What is the difference between Kansas City wheat and Chicago wheat?
The Kansas City wheat contract is for hard red winter wheat and the Chicago wheat contract is for soft red winter wheat. The protein content of hard wheat is higher than that of the soft wheat. It is considered to be of a higher quality, so it normally trades at a higher price.
What kind of wheat is Chicago wheat?
Soft Red Winter Wheat
In this business each type is referred to by the city in which it is traded: Chicago Wheat (Soft Red Winter Wheat), Kansas City Wheat (Hard Red Winter Wheat), and Minneapolis Wheat (Hard Red Spring Wheat). The classifications of “spring” and “winter” refer to the time of the year each are planted.
What is KC wheat?
Kansis City (KC) Wheat Contract Hard Red Winter Wheat is the most abundant crop in the US, growing in Nebraska, Kansas, Oklahoma and the Texas panhandle. These regions are ideal for planting due to the cold, subzero winters and general lack of precipitation.
What does CBOT stand for?
The Chicago Board of Trade
The Chicago Board of Trade (CBOT) is a commodity exchange established in 1848. The Chicago Board of Trade originally traded only agricultural commodities such as wheat, corn, and soybeans. Now it offers options and futures contracts on a wide range of products including gold, silver, U.S. Treasury bonds, and energy.
What Futures Exchange trades wheat?
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.
What are the six major classes of hard and soft wheat?
The six classes grown in the U.S. are Hard Red Winter, Hard Red Spring, Soft Red Winter, Soft White, Hard White, and Durum.
Does CME own Nymex?
NYMEX, a Designated Contract Market offering products subject to NYMEX rules and regulations, became a part of CME Group in 2008, bringing NYMEX and COMEX under the umbrella of CME Group.
What is the price of wheat on the Chicago Board of trade?
Wheat Futures are available for trading in The Chicago Board of Trade (CBOT), Euronext, Kansas City Board of Trade (KCBT) and the Minneapolis Grain Exchange (MGEX). The standard contract unit is 5,000 bushels….
How much is a wheat futures contract?
Wheat futures contract specifications 0.25, worth $12.50 per contract. 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.
Which wheat is best to eat?
Organically produced whole wheat is cultivated as naturally as possible without exposure to harmful pesticides and fertilisers. Therefore, stone-ground and organic whole wheat atta, no matter the type of wheat is the best choice.
Which is best wheat?
Also known as the MP wheat, Sharbati atta is sweeter in taste and better in texture. The grains of Sharbati atta are bigger in size and has a golden sheen to it. Interestingly, Punjab in India is known for the best agricultural produce, including wheat.
Is there a discount between Chicago wheat and Kansas City Wheat?
Starting in 2019 and going into 2020, The Kansas City Wheat futures (KE) contract has been trading at an unusual discount relative to Chicago Wheat futures (ZW).
When is the KC wheat futures contract traded?
At the Kansas City Board of Trade, the KC Wheat futures contract is traded. On April 17, 2012, the July KC Wheat contract traded 9,042 times. This contract is known as Hard Red Winter Wheat which also grows during the US winter months.
When is spring wheat planted in Kansas City?
So when talking about Wheat contracts, keep in mind that each contract is referred to by the city in which it is traded. Winter wheat (Chicago and Kansas City) is planted in the winter. Spring wheat (Minneapolis) is planted in the spring.
What’s the name of the Chicago wheat contract?
On April 17, 2012, the July 2012 Chicago Wheat contract traded 38,830 times. This contract is also known as Soft Red Winter Wheat. Its name is derived from the fact that the crop is growing during the US winter months.