Description

Cash Settled U.S. Wheat Futures

Market Specifications

Trading Screen Product Name

US Wheat Futures

Trading Screen Hub Name

NYCC

Contract Symbol

IW

Contract Size

5,000 bushels

Quotation

U.S. cents per bushel, calculated to 3 decimal places

Contract Months

March, May, July, September, December

Minimum Price Movement

One quarter of one cent per bushel, expressed as .250 ($12.50 per contract)

Daily Price Limit

60 cents per bushel, expandable to 90 cents per bushel then to $1.35 per bushel when the market closes at limit bid or offer. No limit on the expiring contract on the last trading day.

Last Trading Day

Business day prior to the First Notice Day of the corresponding trading month of the Wheat futures contract at the Chicago Board of Trade.

Final Settlement

ICE Cash-Settled US Wheat Futures Contracts are cash settled at expiration based upon the settlement price of the corresponding trading month of the Wheat futures contract at the Chicago Board of Trade on the Last Trade Date for the ICE contract.

Position Limits

Any one month and all months combined limit: 12,000 Futures Contracts and Futures Equivalent Contracts Spot month limit: 600 Futures Contracts as of the close of trading on Last Trading Day.

MIC Code

IFUS

Clearing Venues

ICUS