Cash Corn Market (C-099)
Corn futures contracts are the benchmark for the corn market. Corn, also know as maize, is native to the Americas. Corn grows in warm weather and usually matures in late summer. It is tied with wheat as the second-largest cereal crop in the world. Corn has countless uses. It is used for food, livestock feed, alternative fuel (ethanol), and the production of sweeteners like corn syrup.
If you are interested in trading Corn futures it is helpful to become familiar with the history of the Corn market. The CBOT Corn Contract is the global benchmark for the pricing of corn. The size of the corn contract translates into a relatively small underlying value per contract, making it attractive for hedgers and speculators alike, providing easy market access for global participants small and large.
For centuries corn has been a staple of everyday life. Corn is used as a source of food, energy, and monetary value. From the primitive corn crop of the early Native Americans, to present day genitically modified hybrids that are resistant to pests, chemicals, and drought corn remains firmly rooted at the center of U.S. agriculture.
The United States is not only the world’s top corn producer, but also the top exporter. Therefore when following corn prices it is important to follow the US corn crop