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FUTURES
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OPTIONS
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Trading Hours
7:00 a.m. - 1:10 p.m. Monday - Friday (Central Time)
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Trading Hours
7:00 a.m. - 1:10 p.m. Monday - Friday (Central Time)
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Contract Unit
1,800 gallons
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Underlying Asset
One AJC futures contract
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Contract Listings
Jan, Mar, May, Jul, Sep, Nov
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Contract Listings
Regular Months: Jan, Mar, May, Jul, Sep, Nov
Serial Months: Feb, Apr, Jun, Aug, Oct, Dec
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Daily Price Limit
$.50 per gallon or $900 per contract
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Daily Price Limit
$.50 per gallon or $900 per contract
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Minimum Price Fluctuation
$.0025 per gallon or $4.50 per contract
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Minimum Price Fluctuation
$.0025 per gallon or $4.50 per contract
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Speculative Position Limits
Spot month: 100 contracts
Single month: 1,000 contracts
All months: 1,000 contracts
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Speculative Position Limits
Single month: 1,000 futures equivalent contracts
All months: 1,000 futures equivalent contracts
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Last Trading Day
The business day preceding the fifteenth calendar day of that contract month
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Last Trading Day
The Friday which precedes by at least two (2) business days, the last business day of the month preceding the option month. If such Friday is not a business day, the last trading day shall be the business day prior to such Friday.
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First Notice Day
The last business day of the month preceding the delivery month
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First Delivery Day
The first business day of the delivery month
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Last Notice Day
The Last business day preceding the last delivery day
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Last Delivery Day
The seventh business day following the last trading day
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Automatic Exercise
Based upon the settlement price for AJC futures on the last day of trading for AJC options, the Clearing House shall automatically exercise all in-the-money options unless notice to cancel automatic exercise is given to the Clearing House.
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PROPOSED DELIVERY SPECIFICATIONS
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Acid Level
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1.0 - 2.2% wt/wt as Malic Acid
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Brix
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Minimum 70.0
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Color
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> 40.0 % transmittance @ 440nm
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Turbidity
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</= 3 NTU
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TPC (Total Plate Count)
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<1,000 colonies / gm
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Flavor
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Characteristic of ripe, mature apples with no off flavors or aromas.
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TAB
(Thermoduric Acidophilic Bacili)
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Not detected, with MDL<1
utilizing testing methods specified in Compendium of Methods for the Microbiological Examination of Foods (4th Edition)
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Patulin
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Max 50 ppb @ single strength
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Yeast
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</= 500 cfu/ml
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Delivery Options
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Drums or Bins - per contract size
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Certified Warehouses
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MGEX Approved Cold Storage Warehouses on the East Coast of U.S.
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Country of Origin
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AJC shall have accompanying documentation, by drum and / or bin, indicating its country of origin. Only one country of origin and a single production lot is permitted per contract size of 1,800 gallons.
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Storage Temperature
Post USDA Testing
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0˚F
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