Wheat Futures Quotes
The CBOT wheat futures contract is a contract for future physical delivery of 5,000 bushels of soft red winter
wheat; however, the vast majority of the futures positions are offset well before delivery. The CBOT wheat futures contract
is priced in dollars and cents per bushel. It trades in 1/4s, but is quoted in 1/8s.
Example:
617-4 means $6.17 4/8 or $6.17 1/2
Wheat Options
Quotes
The CBOT wheat options contract controls 5,000 bushels of wheat
based on the underlying futures contract. The strike prices trade in 5-cent intervals for the first two months, and 10-cent
intervals for all other months. The premium is priced in cents per bushel. It options trades in 1/8s, and the price is quoted
in 1/8s.
Example:
14-5
means 14 and 5/8th of a cent, and
$.14625 X 5,000 bushels = $731.25
