Wheat has taken a long journey from its origins in the Fertile Crescent to its current status as one of the world’s primary sources of dietary protein. From breakfast cereal to livestock forage, wheat is an important crop across the globe and wheat futures contracts have evolved as a means for price discovery as well as a likely tool for producers, food processors, importers, and more. In North America, wheat futures contracts trade on more than one exchange, but the contract specifications below will refer to the Chicago futures market.

Contract Size: 5,000 Bushels

Price Quote & Tick Size: Cents per bushel; minimum fluctuation is 1/4 cent per bushel ($12.50 per contract)

Contract Months: March, May, July, September, December

Trading Specs: Trades open outcry and Globex (electronic) per the following schedule:
Electronic: 6:00 pm - 7:15 am and 9:30 am - 1:15 pm Central Time, Sunday – Friday
Open Auction: 9:30 a.m. - 1:15 p.m. Central Time, Mon-Fri.

Daily Price Limit: $0.60 per bushel expandable to $0.90 and then to $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 day of the delivery month.

Trading Symbols: Open Outcry - W; Electronic - ZW