KCBT Hard Red Winter Wheat futures
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| Hard Red Winter Wheat futures | ||
|---|---|---|
| Exchange | Kansas City Board of Trade | |
| Settlement | Physically delivered | |
| Trade Unit | 5,000 bushels | |
| Point Value | Not Applicable | |
| Tick Value | 1/4 cent per bushel ($12.50 per contract) | |
| Contract Months | March, May, July, September, December | |
| First Notice Date | The business day preceding the first business day of the liquidating month | |
| Last Trading Day | There is no trading after the business day preceeding the fifteenth (15th) calendar day of the liquidating month | |
| Open Outcry | Electronic | |
| Trading Hours | 9:30 a.m. to 1:15 p.m. Monday through Friday | 6:00 p.m. to 6:00 a.m. Sunday through Friday; 9:30 a.m. to 1:15 p.m. Monday through Friday |
| Ticker Symbol | KW | KE |
| Price Limits | Price limits will be set at 60 cents per bushel above or below the previous day’s settlement price and will increase by 50 percent the following trading session when the price of two or more futures contract months within the first five listed non-spot contract months, or the final contract month of a crop year, closes at limit bid or limit offer. Price limits can expand two consecutive times: to a 90 cent per bushel limit and then to a maximum $1.35 per bushel limit. Daily price limits will step back to their prior levels when no futures contract month closes at limit bid or limit offer that day. If price limits are $1.35 per bushel and no wheat futures contract month closes limit bid or limit offer, daily price limits for all contract months revert back to 90 cents per bushel the next business day. If price limits are 90 cents per bushel and no wheat futures contract month closes limit bid or limit offer, daily price limits for all contract months revert back to 60 cents per bushel the next business day. 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. | Price limits will be set at 60 cents per bushel above or below the previous day’s settlement price and will increase by 50 percent the following trading session when the price of two or more futures contract months within the first five listed non-spot contract months, or the final contract month of a crop year, closes at limit bid or limit offer. Price limits can expand two consecutive times: to a 90 cent per bushel limit and then to a maximum $1.35 per bushel limit. Daily price limits will step back to their prior levels when no futures contract month closes at limit bid or limit offer that day. If price limits are $1.35 per bushel and no wheat futures contract month closes limit bid or limit offer, daily price limits for all contract months revert back to 90 cents per bushel the next business day. If price limits are 90 cents per bushel and no wheat futures contract month closes limit bid or limit offer, daily price limits for all contract months revert back to 60 cents per bushel the next business day. 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. |
| Hard Red Winter Wheat options | ||
| Trade Unit | One futures contract | |
| Point Value | 1 cent ($50 per contract) | |
| Tick Value | 1/8 cent ($6.25 per contract) | |
| Option Months | Serial | |
| Strike Prices | Integral multiples of 10 cents per bushel | |
| Exercise Style | American | |
| Option Expiration Day | Saturday at least one (1) business day before first notice day for wheat futures | |
| Open Outcry | Electronic | |
| Trading Hours | 9:30 a.m. to 1:25 p.m. Monday through Friday | 6:00 p.m. to 6:00 a.m. Sunday through Friday; 9:30 a.m. to 1:15 p.m. Monday through Friday |
| Ticker Symbol | OKE (P or C) | EC or EP |
| Price Limits | Price limits will be set at 60 cents per bushel above or below the previous day’s settlement price and will increase by 50 percent the following trading session when the price of two or more futures contract months within the first five listed non-spot contract months, or the final contract month of a crop year, closes at limit bid or limit offer. Price limits can expand two consecutive times: to a 90 cent per bushel limit and then to a maximum $1.35 per bushel limit. Daily price limits will step back to their prior levels when no futures contract month closes at limit bid or limit offer that day. If price limits are $1.35 per bushel and no wheat futures contract month closes limit bid or limit offer, daily price limits for all contract months revert back to 90 cents per bushel the next business day. If price limits are 90 cents per bushel and no wheat futures contract month closes limit bid or limit offer, daily price limits for all contract months revert back to 60 cents per bushel the next business day. 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. | Price limits will be set at 60 cents per bushel above or below the previous day’s settlement price and will increase by 50 percent the following trading session when the price of two or more futures contract months within the first five listed non-spot contract months, or the final contract month of a crop year, closes at limit bid or limit offer. Price limits can expand two consecutive times: to a 90 cent per bushel limit and then to a maximum $1.35 per bushel limit. Daily price limits will step back to their prior levels when no futures contract month closes at limit bid or limit offer that day. If price limits are $1.35 per bushel and no wheat futures contract month closes limit bid or limit offer, daily price limits for all contract months revert back to 90 cents per bushel the next business day. If price limits are 90 cents per bushel and no wheat futures contract month closes limit bid or limit offer, daily price limits for all contract months revert back to 60 cents per bushel the next business day. 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. |
