Are you wondering why your /ZC (corn), /XC (mini-corn), /ZS (soybeans), /XS (mini-soybeans), /ZW (wheat), or /XW (mini-wheat) order is rejecting each time you send an agricultural ("Ag") future order? Well, chances are, it could be one of two things: Time or Price.
Check the time you placed the Ag future order
The Corn, Wheat, or Soybean market may be closed
The first thing you want to check is the time. Unlike other futures products, agricultural futures have different hours and may be closed. Standard (non-mini) agricultural futures trade from 8:30 am to 1:20 pm Central (Chicago time). However, mini agricultural futures contracts trade until 1:45 pm. Both re-open from 7:00 pm and close at 7:45 am the next trading day. To view a table of trading hours for all futures products, then please click here.
Check the price entered for your Ag future order
Corn, Wheat, and Soybeans trade in specific increments
If the agricultural market is open, then the next thing you want to look at is the price you're entering. Agricultural outright futures trade in a quarter (0.25) increments. Agricultural options on futures trade in eighths (0.125).