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Wheat Futures |
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WIKI ANALYSIS
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This article describes a futures contract with a discrete termination or delivery date. View articles referencing this futures contract. |
This article is about a specific futures contract traded on the CBOT. For wheat prices in general, see the article on Wheat Prices. For wheat traded on the KCBT, see the article on Kansas City Wheat Futures. For wheat traded on the MGEX, see the article on Spring Wheat Futures.
Wheat Futures are traded on the Chicago Board of Trade (CBOT) under ticker symbol W in cents per bushel.[1] For electronic trading sessions, the symbol ZW is used.[1]
The Chart at left displays the front-month Wheat prices on the Chicago Board of Trade (CBOT) in cents per bushel.
Delivery Dates
Wheat futures contracts are delivered every year in March, May, July, September, and December.[1]
The following is a table with wheat futures delivery dates and resultant tickers for 2009. For an explanation on commodity tickers see commodity ticker construction.
| Delivery Month | Full Ticker Symbol | Thomson-Reuters Symbol |
| March, 2009 | WH9 | W/H9-CB |
| May, 2009 | WK9 | W/K9-CB |
| July, 2009 | WN9 | W/N9-CB |
| September, 2009 | WU9 | W/U9-CB |
| December, 2009 | WZ9 | W/Z9-CB |
Contract Specifications
Contract Size
One wheat futures contract on the Chicago Board of Trade (CBOT) is 5,000 bushels.[1]
Daily Price Limit
The daily price limit for wheat futures contracts on the Chicago Board of Trade (CBOT) is $.60 per bushel ($3000 per contract) above or below the previous day's settlement price.[1] During the spot month, the limit restriction is lifted.
Last Trading Day
Trading of wheat futures contracts on the Chicago Board of Trade (CBOT) ends on the business day prior to the fifteenth calendar day of the contract month.[1]
Deliverable Grades
Deliverable wheat grades for futures contracts on the Chicago Board of Trade (CBOT) at the contract price (at "par") are: No. 2 Soft Red Winter Wheat, No. 2 Hard Red Winter Wheat, and No. 2 Dark Northern Spring Wheat.[1]
Also deliverable for 3 cents per bushel over contract price are: No.1 Soft Red Winter Wheat, No. 1 Hard Red Winter Wheat, No. 1 Dark Northern Spring Wheat and No. 1 Northern Spring Wheat.[1]
CBOT Wheat vs. KCBT Wheat
Both wheat futures traded on Chicago Board of Trade (CBOT) and the Kansas City Board of Trade (KCBT) are used as benchmarks for wheat prices in general. However, generally speaking, the term "wheat futures" refers to wheat futures traded on the CBOT while wheat futures traded on the KCBT are specified to be "KCBT Wheat," "KC Wheat," or "Kansas City Wheat".
See Also
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 The Chicago Board of Trade's contract specifications for wheat futures
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