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To adapt to the changing dynamics of the corn spot market, bring the functions of corn futures into full play, and enhance the ability of futures market in serving corn industry, Dalian Commodity Exchange (DCE) made an official announcement on July 21 to bring adjustments to the corn futures delivery quality standards. The adjusted factors include the test weight requirements for standard and substitute products. The new standard will be implemented commencing with Contract C2505.
The amendments to the corn futures delivery quality standards encompass three key aspects. First, there will be an increase in the test weight requirement. The test weight for standard corn will be raised from ≥675g/L to ≥685g/L. For discount substitutes, it will be raised from ≥650g/L to ≥660g/L. In addition, the discount will be set at 40 RMB per ton. Second, the standard will no longer include indicators for moldy kernels. Instead, the severely moldy kernels for standard corn is required to be at or below 2%. Third, DCE will update the referenced national standard from "GB 1353-2009 Corn" to "GB 1353-2018 Corn". Following the adjustment to the delivery quality standards, all existing standard warehouse receipts of corn will be deregistered before or on the last trading day of March 2025. Starting from the first trading day of April 2025, DCE will only register corn standard warehouse receipts based on the adjusted delivery quality standards.
Going forward, DCE will continue to closely monitor developments in the corn market and will make timely optimizations to related contracts and regulatory rules, aiming to enhance the alignment between futures products and industry demands. These measures are designed to facilitate the role of the futures market in promoting the corn industry's growth and stability.
