Contract Specifications for Wheat Futures (ZW)
| EXCHANGE | Chicago Mercantile Exchange (CME) |
|---|---|
| PRODUCT SYMBOLS | CME Globex (Electronic Platform) = ZW Open Outcry (Trading Floor) = W |
| CONTRACT SIZE | 5,000 bushels (~ 136 Metric Tons) |
| DELIVERABLE GRADE | #2 Soft Red Winter at contract price, #1 Soft Red Winter at a 3 cent premium, other deliverable grades listed in Rule 14014. |
| PRICING UNIT | U.S cents per bushel |
| TICK SIZE (Minimum Fluctuation) | 1/4 of one cent per bushel ($12.50 per contract) |
| CONTRACT MONTHS | March (H), May (K), July (N), September (U) & December (Z) |
| TRADING HOURS | CME Globex (Electronic Platform) 5:00 pm – 2:00 pm Central Time, Sunday – Friday Open Outcry (Trading Floor) 9:30 am – 1:15 pm Central Time, Monday – Friday |
| DAILY PRICE LIMIT | $0.60 per bushel expandable to $0.90 and then $1.35 when the market closes at limit bid or limit offer. There shall be no price limits on the current month contract on or after the second business day preceding the first delivery day of the delivery month. |
| SETTLEMENT TYPE | Physical Delivery |
| LAST TRADE DATE | The business day prior to the 15th calendar day of the contract month. |
| LAST DELIVERY DATE | Second business day following the last trading day of the delivery month. |
| EXCHANGE RULES | These contracts are listed with, and subject to, the Rules and Regulations of CBOT. |
RECOMMENDATIONS
- Are you a trader? We recommend you to take a look at our Daily Market Commentaries on Futures and Equities.
- Currently looking for a Direct Market Access broker? We provide Online Trading Software for you to do so. Find out more here.
I’m interested to trade but I don’t have an account. Where do I start?
If you are new to futures trading, we highly recommend you read through each of these informative links on how to get started.
- Which trading account is right for you?
- What are the procedures and documents required?
- Some common questions we get asked about trading
- Read to get started? Send us an Open Account Request
- Would like to view products on other exchanges?
