What are wheat futures?

Wheat futures (W) are exchange-traded commodities contracts on the Chicago Board of Trade (CBOT) and one of the most widely planted crops in the U.S. The primary use for wheat is flour, and wheat byproducts are also used in livestock feeds. Wheat has significant industrial applications, too, as an ingredient in starches, adhesives, and coatings. While there are several wheat futures classifications, Chicago Soft Red Winter (SRW) wheat and KC Hard Red Winter (HRW) wheat set the global industry standards for wheat price risk management, with Chicago SRW wheat being the most liquid wheat futures contract in the world.

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How to trade wheat futures

Wheat futures contracts are offered through CBOT on the Globex® trading platform and are available to trade electronically through Schwab. An account approved to trade futures is required in order to trade wheat futures.

Wheat futures contract specifications

Considering trading wheat futures? Here are the wheat futures contract specifications.

Exchange, Product Name, Product Code Chicago Board of Trade, Wheat, W
Contract Size 5,000 bushels
Minimum Tick Size and Value 0.25, worth $12.50 per contract.
Trading Times Wheat futures trade electronically on the Globex® platform from 8:00 p.m. U.S. ET to 2:20 p.m. U.S. ET on the following day. Please note that there is a maintenance period from 8:45 a.m. U.S. ET until 9:30 a.m. U.S. ET during which trading is halted.
Principal Trading Months Principal trading months for wheat futures include March, May, July, September, and December.

At Schwab, you also get access to advanced trading platforms and education, where you can take advantage of market research, real-time wheat futures quotes, and other specialized tools.

Why trade wheat futures?

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