These Futures Trading Facts are brought to you by:

THE CONSENSUS® DIRECTORY
OF FUTURES TRADING FACTS

WHEAT

COMMODITY
TYPE 		 WHEAT WHEAT WHEAT WHEAT WHEAT WHITE 
WHEAT
EXCHANGE
NAME 		 CBT KCBT MGE WCE MACE MGE
TRADING TIME
(CENTRAL) 		 9:30 - 1:15 9:30 - 1:15 9:30 - 1:15 9:30 - 1:15 9:30 - 1:45 9:35 - 1:20
DELIVERY
MONTHS 		 H,K,N,U,Z H,K,N,U,Z H,K,N,U,Z H,K,N,U,Z H,K,N,U,Z H,K,N,U,Z
CONTRACT
UNIT 		 5,000 bu. 5,000 bu. 5,000 bu. 20 tons 1,000 bu. 5,000 bu.
PRICE
QUOTED IN 		 ¢/bu. ¢/bu. ¢/bu. $/ton ¢/bu. ¢/bu.
MINIMUM
FLUCTUATION 		 $.0025/bu. $.0025/bu. $.0025/bu. $10/ton $.00125/bu. $.0025/bu.
$VALUE OF 
MINIMUM TICK 		 12.50 12.50 12.50 10.00 1.25 12.50
$VALUE OF 
1¢ MOVE 		 50 50 50 1 10 50
MAX DAILY LIMITS
ABOVE OR BELOW
PREV CLS.¢ 		 30¢/bu. 30¢/bu. 30¢/bu. $7.50/ton 30¢/bu. 30¢/bu.
MAX DAILY LIMITS
ABOVE OR BELOW
PREV CLS. $ 		 1500 1500 1500 750 300 1500
DAILY MAX. PERM
RANGE BET. DAY'S
HIGH & LOW ¢ 		 60¢/bu. 60¢/bu. 60¢/bu. $15/ton 60¢/bu. 60¢/bu.
DAILY MAX. PERM
RANGE BET DAY'S
HIGH & LOW $ 		 3000 3000 3000 1500 600 3000
LAST 
TRADE DAY 		 Bus. day 
prior to last
15 calendar days		 Bus. day 
prior to last
7 bus. days		 Bus. day 
prior to last
7 bus. days		 Bus. day 
prior to last
7 bus. days		 Bus. day 
prior to last
7 bus. days		 Bus day 
prior to last
7 bus. days
FIRST 
DELIVERY DAY 		 1st bus day 1st bus day 1st bus day Last bus day 1st bus day 1st bus day
NET MARGIN 
REQ INITIAL 		 540.00 500.00 500.00 68.00 108.00 500.00
NET MARGIN
REQ MANT. 		 400.00 400.00 400.00 21.76 80.00 400.00
SPREAD MARGIN 
REQ INITIAL 		 135.00 100.00 Market 50.00 Market Market
SPREAD MARGIN 
REQ MANT. 		 100.00 100.00 Market 35.00 Market Market

KEY TO CONTRACT MONTHS

1st
Year		 Month 2nd
Year		 1st
Year		 Month 2nd
Year		 1st
Year		 Month 2nd
Year 
F January A K May E U September P 
G February B M June F V October R 
H March C N July L X November S 
J April D Q August O Z December T 
  • Minimum margin requirements have been recommended by the com. exchanges listed. Spread margins are intra-market only.
  • Consult your broker for changes that occur during spot months.
  • Contact your broker for individual brokerage hour margin requirements.
  • Contact your broker or the exchange for information on variable trading limits.
  • Price limitations are imposed by the various exchanges to prevent extreme price changes in any one day. When prices reach the trading limit, trading beyond that limit is stopped for that day. In nearly all markets, the Board of Directors of Governors has the power to change the limits in emergencies. in the current month, the limitations are broadened in certain futures contracts by permitting wider price ranges and in others by removing limitations entirely.
  • The above compilation includes all active commodities and their markets. The information contained herein is from sources believed to be reliable, but we cannot be held responsible for either its accuracy or completeness.
  • All information contained herein is subject to change by action of the respective commodity exchanges. We will make every effort to update any changes. We suggest that you direct any questions to the members of the exchanges. Those acting on this information are responsible for their own actions.

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    Copyright© CONSENSUS, Inc. 2001 

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