Access two of the most important global wheat markets in one trade
Discover simpler and more capital-efficient trading of KC Wheat futures vs. Euronext Wheat futures in a single spread trade, in U.S. dollars per metric ton. Take advantage of trading through one exchange and one clearing house with CME Group and CME Clearing.
Get exposure to both the North American HRW wheat and European wheat markets with cash-settled, USD-denominated KC HRW Wheat vs. European Milling Wheat Spread futures.
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Features and benefits
Mitigate currency risk
Get exposure to European and North American wheat on one exchange in U.S. dollars, eliminating currency risk. No need to hold positions in two currencies.
One position, one margin required per spread trade
Cleared in U.S. dollars by CME Clearing – only one position and one margin required per spread trade, resulting in margin efficiencies.
Complement or diversify your wheat exposure
Manage price differentials between KC HRW wheat, and European milling wheat.
No physical delivery risk
Contracts are cash settled, so you can gain exposure without engaging in physical markets and manage price risk on a purely financial basis.
Explore this product in depth
Get to know more about KC Wheat futures
KC Wheat futures contracts are based on Kansas City hard red winter (HRW) wheat, which is considered to be the most important class produced in the United States. This type of wheat is grown primarily throughout the high plains and is used for cereal, pan bread, general purpose flour and other foods.
Vendor codes
| CME Group Name/Venues/Symbols | Bloomberg | LSEG | CMED | CGQ, Fidessa (ION), FIS Global, ION Group, Itiviti, Trading Technologies and Vela Trading Systems | Barchart | DTN, Inc | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Clearport | Globex | |||||||||||||
| Chicago Wheat-European Milling Wheat Spread Futures | XCWA Comdty | ZWD | CWD | CWD | CWD | MV | @CWD | |||||||
| KC HRW Wheat-European Milling Wheat Spread Futures | XKWA Comdty | DWK | KWD | KWD | KWD | ME | @KWD | |||||||
Unlock potential in global wheat markets
As the global wheat harvest season winds down, both U.S. and European Wheat futures have been climbing. With the market honing in on world export demand, Dan Basse from AgResource notes, "This year, managing the price differences between various regions will be more critical than ever."
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Connect with a member of our Agricultural team for more information about our products.
