Rice Futures Contract
Rice futures contract describes ZR contract mechanics, not a forecast or a recommendation.
Educational only, not a recommendation to buy or sell any contract or a solicitation to open an account. Futures and options trading involves substantial risk of loss. You can lose more than your initial deposit.
Contract specifications
| Specification | ZR |
|---|---|
| Exchange | CBOT |
| Symbol | ZR |
| Contract size | 2,000 hundredweight (cwt) |
| Tick size / value | ½ cent/cwt = $10 |
| Trading hours | Confirm current hours on the official exchange contract specifications page; holiday schedules may differ. |
| Listed months | November, January, March, May, July, August, September; confirm current listings. |
| Settlement | Physical delivery. |
Last verified November 10, 2026.
This is the supplied source-note date, not confirmation of every live field. Dated sources and fields requiring exchange confirmation are identified below.
The grain and oilseed fact card is copyright 2019. Size, tick, and month-cycle facts below use that dated source; confirm current 2026 Globex hours, limits, and listings on the official contract specifications page. The 2019 session times are not presented as re-verified today.
Micro, mini, and related smaller contracts
No smaller listing is verified here; check the exchange.
Worked tick and 1% example
Hypothetical arithmetic illustration only — not a current price, projection, trading result, or recommendation.
One outright tick changes one ZR contract by $10. Four ticks change it by 4 × $10 = $40, in either direction, before costs.
Assume a made-up quotation of 15 U.S. dollars per cwt (converted from cents where applicable). A 1% price change is 0.15 in those quote units. Multiplying by 2,000 gives $300 for one contract. The same move against a position produces a loss of that amount before costs.
Commissions, fees, bid-ask spreads, and slippage are excluded. Leverage can lead to losses larger than your deposit; a 1% price move is not a 1% account-equity move.
Margin and leverage
Margin is a performance bond, not the purchase price or a limit on loss. Exchange requirements and carrying-firm requirements can change; the firm may require more and may liquidate positions when requirements are not met. No margin dollar amounts are quoted here.
Official exchange product and margin information · Margin and Leverage in Futures
What moves the market
Crop weather, USDA supply estimates, exports, and milling demand can change prices.
Reading the Economic Calendar explains scheduled-release timing. Unscheduled news can also move prices; stops do not guarantee an exit price.
Rollover and expiration
Last trading day is the business day prior to the 15th calendar day of the delivery month. Confirm current exchange rules, notice dates, and firm deadlines.
A roll closes one contract month and opens another; spreads, costs, and execution risk remain. Firm deadlines may be earlier than exchange deadlines. See Contract Rollover, First Notice Day, and Last Trading Day.
Frequently asked questions
What is the contract size and tick value?
ZR: 2,000 hundredweight (cwt); ½ cent/cwt = $10.
Is there a smaller related contract?
No smaller listing is verified here; check the exchange.
How does settlement and expiration work?
Physical delivery. Last trading day is the business day prior to the 15th calendar day of the delivery month. Confirm current exchange rules, notice dates, and firm deadlines.
Does a smaller contract or a stop remove risk?
No. Futures remain leveraged; you can lose more than your initial deposit. Smaller contracts change dollar exposure, not market direction. Stops do not guarantee a fill at the stop price.
Talk it through, if that would help
Ask about contract mechanics or practicing with simulated funds. There is no obligation to open an account.
Demo accounts use simulated funds. Demo results do not reflect real trading and are not indicative of future results. Features, terms, and availability can change.
Drew Rathgeber, President
949-996-4611 · drathgeber@profuturestrader.com