Wheat is the most important agricultural commodity, ahead of corn. Different types of wheat are distinguished, which are also named according to their respective main trading place. The two most important are Soft Red Winter Wheat, Chicago wheat, and Hard Red Winter Wheat or Kansas wheat, where “winter” refers to the time of sowing, while “hard” or “soft” indicate the climatic conditions in which the plants are grown. The main growing area of Chicago wheat is in the wetter regions that extend in a line from Central Texas to the Great Lakes and the Atlantic Ocean. The flour from Chicago wheat is mainly used for cakes, cookies, snacks and crackers.
Trade data on Wheat
Product symbol: W
Trade: CME GROUP (CME Globex, Open Outcry / Chicago)
Contract size: 5000 bushels
Trade price: Cents per bushel
Minimum trade movement: ¼ Cent per bushel
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