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CBOT Wheat Futures Specifications

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Futures Contract Specifications

The wheat contract specifications tell you how the wheat futures trade, not how to trade to wheat futures. Before you consider opening a commodity futures account you should consult with a licensed commodities broker.

Contract Size

5,000 bushels

Deliverable Grades

No. 2 Soft Red Winter, No. 2 Hard Red Winter, No. 2 Dark Northern Spring, and No. 2 Northern Spring at par; No. 1 Soft Red Winter, No. 1 Hard Red Winter, No. 1 Dark Northern Spring and No. 1 Northern Spring at 3 cents per bushel over contract price.

Tick Size

1/4 cent/bushel ($12.50/contract)

Price Quote


Contract Months

Jul, Sep, Dec, Mar, May

Last Trading Day

The business day prior to the 15th calendar day of the contract month.

Last Delivery Day

Seventh business day following the last trading day of the delivery month.

Trading Hours

Electronic: 6:00 p.m. - 6:00 a.m. and 9:30 a.m. - 1:15 p.m. Central Time, Sun.-Fri.

Open Auction: 9:30 a.m. - 1:15 p.m. Central Time, Mon-Fri.

Trading in expiring contracts closes at noon on the last trading day.

Ticker Symbols

Open Auction: W

Electronic: ZW

Daily Price Limit

Sixty cents ($0.60) per bushel ($1,500/contract) above or below the previous day's settlement price. No limit in the spot month (limits are lifted beginning on First Position Day).

Margin Information

Find information on margins requirements for the Wheat Futures.

An Introduction to Trading CBOT Agricultural Futures and Options

Click on the link above to download a printable .pdf booklet entitled “An Introduction to Trading CBOT Agricultural Futures and Options”. It is published by the Chicago Board of Trade. It is a must read guide for any novice or advanced trader considering an investment in the wheat futures.

Click here to contact a licensed commodities broker with experience in the wheat market.

Commodity trading is not suitable for everyone. The risk of loss in trading can be substantial. This material has been prepared by a sales or trading employee or agent of Van Commodities, Inc. and is, or is in the nature of, a solicitation. This material is not a research report prepared by Van Commodities, Inc. Research Department. Please view our Risk Disclosure.

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