Oct 20 (Reuters) - Daily price limits for Chicago Board of Trade corn, wheat and soybean futures will see a decline from November following a semi-annual review, the CME Group Inc , parent of the exchange, said on Tuesday.
Under exchange rules, the CBOT resets daily limits for grains and oilseeds in May and November of each year, based on a percentage of the average settlement price of benchmark contracts during a roughly nine-week observation period.
The new limits will go into effect on Nov. 1, for all trade dated Nov. 2.
For corn, daily limit will fall to 25 cents per bushel from the current 30 cents.
The limits for CBOT wheat and K.C. hard red winter wheat will fall to 35 cents from 40 cents each.
The daily limit for soybeans will drop to 60 cents per bushel from 70 cents.
For soymeal, the limit will be reduced to $20 per short ton, from $25, while the limit for soyoil stays at 2 cents per lb.
The daily limits for mini-sized corn, soybean and wheat futures match those for full-size contracts.
The limit on rough rice futures will rise to 90 cents per hundredweight from 75 cents. The limit for oats will remain unchanged at 20 cents per bushel.
Limits for all grain futures can be expanded in the session following a limit-up or limit-down settlement.
Daily limits are lifted for the current month contract on or after the second business day preceding the first day of the delivery month.
The CBOT eliminated price limits for all grain and oilseed options contracts in 2014. (Reporting by Vijaykumar Vedala in Bengaluru and Julie Ingwersen in Chicago; Editing by Lisa Shumaker)