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First Notice Day

   Also found in: Acronyms 0.03 sec.
First notice day
The first day, varying by contracts and exchanges, on which notices of intent to deliver actual financial instruments or physical commodities against futures are authorized.

First Notice Day
The first day on which a clearing house may inform an investor that it intends to make delivery of a commodity that the investor previously bought in a futures contract. The date is governed by the rules of different exchanges and clearing houses, but may also be stated in the futures contract itself. It also occurs in the delivery month in which the contract expires.


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I did not realize that lead month May natural gas goes off the board on first notice day unlike the grains.
Now that first notice day is behind us, the pattern is for the lead-month contracts have to firm a little as sellers move to the sidelines.
By mid-week we will see first notice day of the December corn contract.
 
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