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Help on CBOT Wheat (W)
Wheat (soft red winter) Futures are traded on the Chicago Board
of Trade. The price of Chicago Wheat is quoted in cents per bushel.
The standard contract size is 5,000 bushels. The minimum trading
increment is a 1/4 cent.
Chicago Wheat prices are read as follows:
A price of 380 1/4 would be read as $3.80 1/4 per bushel
A move from 380 1/4 to 381 1/4 would be a difference of $50.00
excluding commissions and fees. The minimum change is 1/4 cent
or $12.50
Formula: $3.81 1/4 - $3.80 1/4 = $0.01 * 5,000 = $50.00
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