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Grain and Oilseed
Product Overview
View Current Daily Price Limits
Wheat futures provide a way to:
- Participate in global price discovery for wheat
- Effectively manage the price risk that wheat merchandisers, producers, food processors, livestock operations, importers and others have related to the purchase or sale of wheat
- Take advantage of arbitrage and spread opportunities with other commodities including related grains, oilseeds and livestock
- Evaluate or reflect on both the current and future supply and demand situation for wheat
- Identify short and long-term cyclical price and volatility patterns for wheat
- Trade to hedge or speculate based on expectations of directional price, spread movement or volatility in wheat
- Trade in deep liquid markets
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General News & Announcements for Wheat
CME Product Market Data
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| Trade Unit | 5,000 bushels | ||
| Settle Method | Delivery | ||
| Point Size | 1 tick = 1/4 cent per bushel = $12.50 per contract | ||
| Strike Price Interval | 10 cents per bushel for the first two months, 20 cents per bushel for all other months. At the commencement of trading, list 5 strikes above and 5 below the at-the-money strike. | ||
| Strike | |||
| Limits/Price Banding | Price limits scalable to next level above or below when price settles at limit. ($0.60/$0.90/$1.35) per bushel ($3,000/$4,500/$6,750 contract) above or below the previous day's settlement price. No limit in the spot month (limits are lifted beginning on First Position Day). | ||
| Tick Size (Minimum Fluctuation) |
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| Trading Hours | Electronic: 6:00 p.m. - 6:00 a.m. and 9:30 a.m. - 1:15 p.m. Central Time, Sun.-Fri. Trading in expiring contracts closes at noon on the last trading day. | ||
| Listed | All listed series | ||
| Product Codes | Open Auction: W Electronic: ZW | ||
| Minimum Block Size | |||
| Product Calendar | Jul, Sep, Dec, Mar, May View current product listings |
| Trade Unit | 5,000 bushels | ||
| Settle Method | Delivery | ||
| Point (Tick) Size | 1 tick = 1/4 cent per bushel = $12.50 per contract | ||
| Strike Price Interval | 10 cents per bushel for the first two months, 20 cents per bushel for all other months. At the commencement of trading, list 5 strikes above and 5 below the at-the-money strike. | ||
| Strike | |||
| Limits/Price Banding | Price limits scalable to next level above or below when price settles at limit. ($0.60/$0.90/$1.35) per bushel ($3,000/$4,500/$6,750 contract) above or below the previous day's settlement price. No limit in the spot month (limits are lifted beginning on First Position Day). | ||
| Minimum Fluctuation |
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| Trading Hours | Open Auction: 9:30 a.m. - 1:15 p.m. Central Time, Mon-Fri. Trading in expiring contracts closes at noon on the last trading day. | ||
| Listed | All listed series | ||
| Product Codes | Open Auction: W Electronic: ZW | ||
| Minimum Block Size | |||
| Product Calendar | Jul, Sep, Dec, Mar, May View current product listings |
General News & Announcements for Wheat
Contracts Currently Eligible
to Trade and Recently Expired Contracts
| Contract Month | Product Code | First Trade Date | Last Trade Date | Settlement Date | |
| JUL08 | WN08 | 07/15/2005 |  |
07/14/2008 | 07/14/2008 |
| SEP08 | WU08 | 05/15/2007 | |
09/12/2008 | 09/12/2008 |
| DEC08 | WZ08 | 04/19/2006 | |
12/12/2008 | 12/12/2008 |
| MAR09 | WH09 | 09/17/2007 | |
03/13/2009 | 03/13/2009 |
| MAY09 | WK09 | 12/17/2007 | |
05/14/2009 | 05/14/2009 |
| JUL09 | WN09 | 07/17/2006 | |
07/14/2009 | 07/14/2009 |
| SEP09 | WU09 | 02/01/2008 | |
09/14/2009 | 09/14/2009 |
| DEC09 | WZ09 | 05/18/2007 | |
12/14/2009 | 12/14/2009 |
| MAR10 | WH10 | 03/28/2008 | |
03/12/2010 | 03/12/2010 |
| JUL10 | WN10 | 07/16/2007 | |
07/14/2010 | 07/14/2010 |
| DEC10 | WZ10 | 04/02/2008 | |
12/14/2010 | 12/14/2010 |
General News & Announcements for Wheat
Product Overview
Product Education
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