1. Introduction to Commodities
  2. Commodities: Cocoa
  3. Commodities: Coffee
  4. Commodities: Copper
  5. Commodities: Corn
  6. Commodities: Cotton
  7. Commodities: Crude Oil
  8. Commodities: Feeder Cattle
  9. Commodities: Gold
  10. Commodities: Heating Oil
  11. Commodities: Live Cattle
  12. Commodities: Lumber
  13. Commodities: Natural Gas
  14. Commodities: Oats
  15. Commodities: Orange Juice
  16. Commodities: Platinum
  17. Commodities: Rough Rice
  18. Commodities: Silver
  19. Commodities: Soybeans and Soybean Oil
  20. Commodities: Sugar
  21. Commodities: Wheat
  22. Understanding Commodities Trading

Rice was domesticated from a wild grass more than 10,000 years ago. Today, rice is a staple food for billions of people throughout Asia, the Middle East and Latin America; it has fed more people over a longer period of time than any other crop. It’s the third-most produced grain in the world behind only wheat and corn (number one).

"Rough rice" simply means rice that has been harvested, but not milled.

Contract Specifications

Ticker Symbol

ZR (CME Globex)

Contract Size

2,000 hundredweights (CWT) (~91 metric tons)

Contract Months

F, H, K, N, U, X

Trading Hours

CME Globex: Sunday – Friday, 8:00 p.m. – 8:45 a.m. and Monday – Friday, 9:30 a.m. – 2:20 p.m.

Last Trading Day

The business day prior to the 15th calendar day of the contract month

Price Quote

U.S. dollars and cents per pound

Tick Size

$0.005 per hundredweight ($10 per contract)

Production

Worldwide, two main types of rice are produced: Japonica and Indica. Japonica rice is typically grown in temperate climates, and the grains are round and strong. When cooked, Japonica is sticky and moist. Indica is grown in hot climates. The grains are long and break easily, and the cooked rice is fluffy and does not stick together. China is the world’s largest rice producer, followed by India, Indonesia, Bangladesh, Vietnam and Thailand.

Price Drivers

Rice is one of the world’s most important crops. Several factors can influence prices, including:

  • the growth rate of rice yield (for example, when rice yields increase at a slower pace than population)
  • stock levels (inventories)
  • demand growth (from rising populations)
  • changes in public investment in agricultural research, development and infrastructure
  • crude oil prices, which affect production costs
  • exchange rate movements
  • export restrictions

Commodities: Silver
Related Articles
  1. Financial Advisor

    Why Goals-Based Investing Deserves Your Attention

    Advisors need to be willing to make changes in their management styles and other business practices to stay current and relevant for their clients.
  2. Investing

    Who Produces The World’s Food?

    While the planet’s food basket contains no single commodity that the entire world consumes, its ingredients are very similar.
  3. Insights

    Top Agricultural Producing Countries

    Discover which countries produce the most agricultural products, which export the most and what is being done to increase production.
  4. Insurance

    SoulCycle Founders Resign

    Founders Elizabeth Cutler and Julie Rice issued a statement to Fortune magazine.
  5. Investing

    What are Commodities?

    A commodity is a basic good used in commerce that is interchangeable with other commodities of the same type. Commonly traded commodities include gold, beef, oil, lumber and natural gas. Additional ...
  6. Insights

    Tesla Adds Two Independent Board Members After Criticism

    Tesla responds to criticism that its board is too insular by bringing in two media CEOs.
  7. Insights

    The Financial Effects of a Natural Disaster

    We're all subject to Mother Nature's whims – and the damage can have far-reaching effects.
Frequently Asked Questions
  1. How did the ABX index behave during the 2008 subprime mortgage crisis?

    Read about the disastrous performance of the various ABX indexes in the subprime mortgage crisis of 2008 during the middle ...
  2. How did moral hazard contribute to the 2008 financial crisis?

    Learn about moral hazard, how it can affect outcomes and how it contributed to the conditions that led to the 2008 financial ...
  3. Which mutual funds made money in 2008?

    Read about the only mutual fund that turned a profit in 2008. Learn about risk-averse investment strategies and the financial ...
  4. Were Collateralized Debt Obligations (CDO) Responsible for the 2008 Financial Crisis?

    Collateralized debt obligations are exotic financial instruments that can be difficult to understand, Learn the role they ...
Trading Center