CME Group has got approval from the U.S. Commodity Futures Trading Commission to increase daily price limits for corn futures and options. The price limits for CBOT corn futures, corn options and mini-sized corn futures will be increased to $0.40 per bushel. The new price will expandable to $0.60 per bushel when at least two contracts close at limit bid or limit offer on the previous trading day. The existing price limit for corn futures and option contracts is $0.30 per bushel per day, expandable to $0.45 and then to $0.70 when at least two contracts close at limit bid or limit offer on the previous trading day.
Click here for the release from PR Newswire.