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KANSAS WHEAT

CBOT Kansas Wheat

CONTRACT SPECIFICATION

Trading Screen Product Name

Kansas HRW Wheat

Commodity Code

KWE

Contract Size

5 000 bushels/lot

Price Quotation

cent / bushel

Trading Hours

Monday-Friday
Session 1: 08:00 A.M - 08:45 P.M

Session 2: 09:30 P.M - 02:20 A.M (the next day)

Minimum Price Fluctuation

0.25 cent / bushel

Contract Series

March, May, July, September, and December

Delivery Registration Day

The fifth business day prior to the First Notice Day

First Notice Day

The last business day of the month prior to the contract month.

Last Trading Day

The business day prior to the 15th calendar day of the contract month.

Margin

As MXV required

Position Limit

As MXV required

Price Limit

Daily Price Limit	Expanded Price Limit
$0.45/bushel	$0.70/bushel

Settlement Method

Deliverable

Quality Standards

No. 1, No. 2 Kansas Wheat

QUALITY STANDARDS

In accordance with the regulations of Kansas HRW Wheat traded on Chicago Board of Trade (CBOT).

Grade	Minimum Weight per Bushel (pound)	Maximum limits of ---
		Defects					Wheat of Other Classes
		Heat Damaged Kernels (%)	Damaged Kernels (Total) (%)	Foreign Material (%)	Shrunken and Broken Kernels (%)	Total Defects (%)	Contrasting Classes (%)	Wheat of Other Classes (Total) (%)
1	60	0.2	2	0.4	3	3	1	3
2	58	0.2	4	0.7	5	5	2	5

Product infomation

Introduce

Wheat or buckwheat is a type of grass, widely regarded as a cereal worldwide for its grain.
Wheat originated in Southwest Asia in an area known as the Fertile Crescent. The cultivation of Wheat began to spread beyond the Fertile Crescent during the Neolithic period. Around 3000 BC, Wheat appeared in Ethiopia, India, Ireland and Spain. About a millennium later it reached China.

Characteristics

Wheat is an important product for humans. Its output is second only to maize and rice in food crops (in 2017).
Wheat grain is used to make flour in breads, noodles, confectionery, drinks; fermented to produce alcohol or biofuel.

Nutritional composition of Wheat Seeds

- Carbohydrates
- Fiber
- The protein
- Vitamins and minerals
- Other plant compounds

Production and consumption

Wheat is grown on more than 216,000,000 hectares (530,000,000 acres), larger than any other crop. World Trade in Wheat is larger than all other crops combined. Along with Rice, Wheat is the most preferred staple food in the world. It is a major dietary ingredient due to agronomic adaptations of wheat that can grow from regions near the Arctic to the Equator, from coastal plains to elevations of about 4,000 m (13,000 ft). above sea level.

Quantity

The leading country in terms of output is China, followed by India, Russia, and the United States

Export

The country with the largest export in 2020 is Russia, accounting for more than 17.7% of total global exports, followed by the United States and Canada with a share of 14.1%.

Import

The largest importing countries are in Europe, respectively Turkey, Greece, Italy

Factors affecting world wheat prices:
- Weather and climate in major wheat growing regions in the world such as Russia, USA, Black Sea countries
- Support and protection policies of producing and exporting countries: Russia, USA, Canada
- Competition with other foods and animal feeds such as rice, corn