The last Friday preceding the first notice day of the corresponding corn futures contract by at least five business days. The last Friday preceding the first notice day of the corresponding rough rice futures contract by at least five business days. The last Friday which precedes first notice day for the underlying future by at least five business day. The Friday which precedes by at least five business days the last business day of the month preceding the option month. Trading closes an hour early on the last trading day of the delivery month.
Trading closes at noon on the last trading day of the delivery month.
Limits are lifted on the last trading day. Each futures contract shall be valued at 40,000 pounds times the CME Lean Hog Index . 2 Yellow corn is the quality represented by the CBOT corn contract. This contract is used not only to manage price risk for corn but also for grain sorghum, or milo. Since corn and grain sorghum are largely substitutable in livestock feeding enterprises, seasonal price movements for the two grain products are fairly similar.