DESCRIPTION

The Coffee C contract is the world benchmark for Arabica coffee. The contract prices physical delivery of exchange-grade green beans, from one of 20 countries of origin in a licensed warehouse to one of several ports in the U. S. and Europe, with stated premiums/discounts for ports and growths.

CONTRACT SYMBOL

KC

CONTRACT SIZE

37,500 pounds

PRICE QUOTATION

Cents and hundredths of a cent up to two decimal places

CONTRACT SERIES

March, May, July, September, December

MINIMUM PRICE FLUCTUATION

5/100 cent/lb., equivalent to $18.75 per contract.

SETTLEMENT

Physical delivery

GRADE/STANDARDS/QUALITY

A Notice of Certification is issued based on testing the grade of the beans and by cup testing for flavor. The Exchange uses certain coffees to establish the "basis". Coffees judged better are at a premium; those judged inferior are at a discount.

DAILY PRICE LIMIT

None

DELIVERABLE ORIGINS

Mexico, Salvador, Guatemala, Costa Rica, Nicaragua, Kenya, Papua New Guinea, Panama, Tanzania, Uganda, Honduras, and Peru all at par, Colombia at 400 point premium, Burundi, Rwanda, Venezuela and India at 100 point discount, Dominican Republic and Ecuador at 400 point discount, and Brazil at 600 point discount.
 

Commencing with the March 2026 expiry, Guatemala will be deliverable at a 500 point premium, and Colombia, Costa Rica and Kenya will be deliverable at a 1000 point premium.

DELIVERY LOCATIONS

Exchange licensed warehouse in the Ports of New York District, Virginia, New Orleans, Houston, Miami, Bremen/Hamburg, Antwerp and Barcelona.
 

The New York and Virginia delivery points are par; the New Orleans, Miami and Houston delivery points are at a discount of 0.50 cents per pound; and the Bremen/Hamburg, Antwerp and Barcelona delivery points are at a discount of 1.25 cents per pound.

FIRST NOTICE DAY

Seven business days prior to first business day of delivery month.

LAST TRADING DAY

One business day prior to last notice day

LAST NOTICE DAY

Seven business days prior to the last business day of the delivery month

POSITION LIMIT

Position Limit and Position Accountability information for all IFUS products
can be found here .

MARKERS

►TAS (Trade at Settlement)

DESCRIPTION

ICE Futures U.S. Coffee "C"® is the benchmark contract forArabica coffee. As it is the world's leading coffee contract, the coffee industry looks to the Coffee "C" contract each day to price Arabica. The Coffee "C" futures and options contract trades the equivalent of 7 times the world's coffee production annually.

Weekly Coffee options launch February 6. View weekly options contract specifications here.View Weekly Options FAQ here.

CONTRACT SYMBOL

KC

CONTRACT SIZE

One Coffee C futures contract (37,500 pounds)

PRICE QUOTATION

Cents and hundredths of a cent up to two decimal places

CONTRACT SERIES

Regular Options: March, May, July, September and December
 

Serial Options: January,Febuary, April, June, August, October and November. For a serial option, the underlying future is the next Regular futures contract month

MINIMUM PRICE FLUCTUATION

1/100 cent/lb, equivalent to $3.75 per contract

EXERCISE PROCEDURE

American style

DAILY PRICE LIMIT

None

STRIKE PRICE INTERVALS

Strike increment is $0.025 cents per pound

FIRST TRADING DAY
(REGULAR OPTIONS)

Business day following the day on which the underlying futures trade is listed.

FIRST TRADING DAY
(SERIAL OPTIONS)

First business day of the third calendar month preceding the serial option month.

LAST TRADING DAY

Second Friday of the calendar month preceding such regular or serial option month; provided, however, that for each option, there will be a minimum of four trading days between the last trading day of the expiring option and the first notice day of the expiring future.

EXPIRATION DATE

17:00 Eastern time on the last trading day. Automatic exercise at one tick or more in-the-money at expiration on last trading day.

POSITION LIMIT

Position Limit and Position Accountability information for all IFUS products can be found here.