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Grain and Oilseed
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Wheat

Product Overview

View Current Daily Price Limits

Options on Wheat futures provide a way to:

  • Effectively manage price risk associated with the purchase and sale of wheat by merchandisers, producers, food processors and other commercial users
  • Utilize some strategies to allow hedgers to reduce price level risk while retaining the opportunity to improve their purchase or selling price
  • Trade in deep liquid markets

 

Things to Know:

  • Wheat options are 5,000 bushel contracts with a Wheat futures contract as the underlying product
  • Wheat option contracts are available for trading over 15 hours per day providing customers access regardless of their time zone
  • Wheat options trade electronically on the CME Globex platform during the Asian and European daytime market hours as well as on the trading floor during the primary U.S. grain market hours
  • Wheat call and put options have numerous strike prices to choose from

 

Get Real-Time Quotes

View free real-time quotes on a variety of electronically traded CME Group products

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General News & Announcements for Wheat
RSS

Market Commentary

View pre-opening commentary on the wheat market.


Market Commentary

View commentary on the mid-session of the wheat market.


Market Commentary

View a recap of the wheat market.


CME Product Market Data
Report Type

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Contract Specification View
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Trade Unit One CBOT Wheat futures contract (of a specified contract month) of 5,000 bushels
Settle Method Delivery
Point Size 1 tick = 1/8 cent per bushel = $6.25 per contract
Strike Price Interval
Strike All listed intervals.
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)
Regular1/8 cent per bushel = $6.25
Trading Hours Electronic: 6:00 p.m. - 6:00 a.m. Central Time, Sun.-Fri.
Listed
Product Codes Open Auction: WY for calls/WZ for puts Electronic: OZW
Minimum Block Size
Product Calendar Jul, Sep, Dec, Mar, May; a monthly (serial) option contract is listed when the front month is not a standard option contract. The monthly option contract exercises into the nearby futures contract. For example, an August option exercises into a September futures position.
View current product listings
Trade Unit One CBOT Wheat futures contract (of a specified contract month) of 5,000 bushels
Settle Method Delivery
Point (Tick) Size 1 tick = 1/8 cent per bushel = $6.25 per contract
Strike Price Interval
Strike All listed intervals
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
Regular1/8 cent per bushel = $6.25
Trading Hours Electronic: 6:00 p.m. - 6:00 a.m. and 9:30 a.m. - 1:15 p.m. Central Time, Sun.-Fri.
Listed All listed series
Product Codes Open Auction: WY for calls/WZ for puts Electronic: OZW
Minimum Block Size
Product Calendar Jul, Sep, Dec, Mar, May; a monthly (serial) option contract is listed when the front month is not a standard option contract. The monthly option contract exercises into the nearby futures contract. For example, an August option exercises into a September futures position.
View current product listings
General News & Announcements for Wheat
RSS

Market Commentary

View pre-opening commentary on the wheat market.


Market Commentary

View commentary on the mid-session of the wheat market.


Market Commentary

View a recap of the wheat market.


Contracts Currently Eligible to Trade and Recently Expired Contracts
Contract Month Product Code First Trade Date Last Trade Date Settlement Date
NOV08 WX08 08/25/2008 Add to Outlook 10/24/2008 10/24/2008
DEC08 WZ08 09/01/2006 Add to Outlook 11/21/2008 11/21/2008
MAR09 WH09 11/21/2007 Add to Outlook 02/20/2009 02/20/2009
MAY09 WK09 02/25/2008 Add to Outlook 04/24/2009 04/24/2009
JUL09 WN09 04/12/2007 Add to Outlook 06/26/2009 06/26/2009
SEP09 WU09 06/23/2008 Add to Outlook 08/21/2009 08/21/2009
DEC09 WZ09 11/20/2007 Add to Outlook 11/20/2009 11/20/2009
JUL10 WN10 08/19/2008 Add to Outlook 06/25/2010 06/25/2010
DEC10 WZ10 08/19/2008 Add to Outlook 11/26/2010 11/26/2010
Contracts Not Yet Eligible to Trade
Contract Month Product Code First Trade Date Last Trade Date> Settlement Date
JAN09 WF09 10/27/2008 12/23/2008 12/23/2008
General News & Announcements for Wheat
RSS

Market Commentary

View pre-opening commentary on the wheat market.


Market Commentary

View commentary on the mid-session of the wheat market.


Market Commentary

View a recap of the wheat market.


Product Overview

Things to Know:

  1. Wheat options are 5,000 bushel contracts with a Wheat futures contract as the underlying product
  2. Wheat option contracts are available for trading over 15 hours per day providing customers access regardless of their time zone
  3. Wheat options trade electronically on the CME Globex platform during the Asian and European daytime market hours as well as on the trading floor during the primary U.S. grain market hours
  4. Wheat call and put options have numerous strike prices to choose from
Product Education

Product News
Larger U.S. and World Wheat Crops Limit Prices as Harvest Begins (PDF)
Larger U.S. and World Wheat Crops Appear on the Horizon (PDF)
Corn Planting Slowest Since 1993, but Spring Wheat Seedings Near Normal (PDF)

 

Periodic Reports
USDA Monthly Supply & Demand (PDF)
Weekly Export Sales (PDF)
Commitment of Traders (PDF)
Spring Wheat Crop Condition (PDF)
Winter Wheat Crop Condition (PDF)


Supply Charts
US All Wheat Planted Acreage
US All Wheat Yield: Actual vs. Trend line
US All Wheat Production
US All Wheat Supply
US All Wheat Ending Stocks
US Hard Winter Wheat Production
US Hard Winter Wheat Ending Stocks
US Soft Red Wheat Production
US Soft Red Wheat Ending Stocks
US Winter Wheat Crop Conditions Good/Excellent
US Wheat Crop Conditions: Poor to Very Poor
US Hard Spring Wheat Production
US Hard Spring Wheat Ending Stocks
Spring Wheat Planting Progress
US Spring Wheat Crop Conditions Good/Excellent
US Spring Crop Conditions: Poor to Very Poor
Wheat Export Sales as % of USDA Forecast
World Wheat Production
World Wheat Supply
World Wheat Ending Stocks
Argentina Wheat Production
Australia Wheat Production
China Wheat Production
Canada Wheat Production
EU Wheat Production
Russia Wheat Production
India Wheat Production
Canada Wheat Exports
Argentina Wheat Exports
Australia Wheat Exports
EU-15 Wheat Exports

Fundamental Reference
US All Wheat Planted Acreage
US All Wheat Yield: Actual vs. Trend line
US All Wheat Production
US All Wheat Supply
US All Wheat Ending Stocks
US Hard Winter Wheat Production


Demand Charts
US All Wheat Domestic Consumption
US All Wheat Exports
US All Wheat Total Usage
US All Wheat Stocks/Usage Ratio
US All Wheat Stocks vs. Stocks/Usage
US Hard Winter Wheat Domestic Usage
US Hard Winter Wheat Exports
US Hard Winter Wheat Total Usage
US Hard Winter Wheat Stks vs. Stks/Use Ratio
US Hard Spring Wheat Domestic Usage
US Hard Spring Wheat Exports
US Soft Red Wheat Stks vs. Stocks/Use Ratio
US Hard Spring Wheat Domestic Usage
US Hard Spring Wheat Exports
US Hard Spring Wheat Total Usage
Wheat US vs. World Stocks/Usage Ratio
World Wheat Production vs. Usage
World Wheat Change in Ending Stocks vs. Stocks to Usage
World Wheat Ending Stocks vs. Stocks to Usage
World Wheat Usage
World Wheat Ending Stocks/Usage Ratio
China Wheat Domestic Usage
World Wheat Consumption vs. Trade
Publications

Brochures
Grain and Oilseed Fact Card (PDF)
Grain and Oilseed Hedger’s Guide (PDF)
Grain & Oil Seed Metric Conversion Guide (PDF)
Extended Hours and Lower Exchange Fees for Mini-Ag Contracts (PDF)
Commodity Metric Conversion Guide (PDF)

Subscriptions
Email Subscription Center
Commodity Monthly Newsletter
Commodity Monthly Update
Product Education
Monthly Agricultural Grains Update (PDF)		 Learning Links
Moore Historical Report
White Papers
Speculative Position Limits and Hedge Fund Exemptions (PDF)