A simpler, more capital-efficient way to trade global wheat benchmarks
Discover simpler and more capital-efficient trading of Chicago Wheat futures vs. Euronext Wheat futures in a single spread trade, in U.S. dollars per metric ton. Chicago Wheat contracts are the global industry standard and the most actively traded Wheat benchmarks in the world. Take advantage of trading through one exchange and one clearing house with CME Group and CME Clearing.
Get exposure to both the North American wheat and European wheat markets with cash-settled, USD-denominated Chicago 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 relating to specific wheat qualities of Chicago 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
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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