Difference between revisions of "MGEX Hard Red Spring Wheat"

From MarketsWiki
Jump to: navigation, search
 
(38 intermediate revisions by 7 users not shown)
Line 1: Line 1:
<!--
+
{{Random_adbox}}
Parameter list:
+
  
cash    = Any value if cash-settled; leave blank for delivery settled contracts
+
== Notes ==
cname    = MGEX Hard Red Spring Wheat
+
The flagship contract of MGEX, hard red spring wheat, has traded continuously since its inception. Hard red spring wheat futures and options are traded exclusively electronically on the CME Globex® Platform.
commod  = MGEX Wheat
+
ctype    = Agricultural
+
elect    = eCBOT
+
elHours  = 9:30-13:15, 18:32-6:00
+
elLimit  = 30 cents
+
elTickPt = 1/4 cent per bushel
+
elTickVal= $12.50
+
exch    = MGEX
+
months  = Mar, May, Jly, Sep, Dec
+
ooHours  = 9:30-13:15
+
ooLimit  = 30 cents
+
ooTickPt = 1/4 cent per bushel
+
ooTickVal= $12.50
+
outcry  = Yes
+
ptdesc  = 1/4 cent per bushel
+
ptval    = $50 per cent
+
unit    = 5,000 bushels-->
+
  
{| border=1 width=75% cellspacing=2 cellpadding=5
+
Hard red spring wheat is one of the highest-protein wheats grown. It is found in bagels, high quality breads and cereals.<ref>{{cite web|url=http://www.mgex.com/spring_wheat.html|name=MGEX Website|org=Minneapolis Grain Exchange|date=July 17, 2008}}</ref>
|- style="font-size:160%;"
+
! colspan=3 align=center style="background:#E1E1E6;"|{{#if:{{{cname|}}}|{{{cname}}}|Contract name needed!}}
+
|-
+
! style="background:#EEEEEE;"| Exchange
+
| colspan=2 |{{#if:{{{exch|}}}|[[{{{exch}}}]]|Exchange name needed!}}
+
|-
+
! style="background:#EEEEEE;"| Settlement
+
| colspan=2 |{{#if:{{{cash|}}}Cash settled|Physically delivered}}
+
|-
+
{{#if:{{{unit|}}}|{{!!}}style="background:#EEEEEE;"{{!}} Trade Unit
+
{{!}}colspan=2{{!}} {{{unit}}} |}}
+
|-
+
! style="background:#EEEEEE;"| Point Value
+
| colspan=2 | {{{ptval|Need point value!}}} ({{{ptdesc|Need point description!}}})
+
|-
+
! style="background:#EEEEEE;"| Contract Months
+
| colspan=2 | {{{months|Need contract months!}}}
+
|-
+
{{#if:{{{outcry|}}}||{{!}}colspan=3{{!}}Note:  This contract is electronic ONLY -- no open outcry}}
+
|-
+
|style="background:#EEEEEE;"| &nbsp;
+
!style="background:#EEEEEE;"| {{#if:{{{outcry|}}}|Open Outcry|No Open Outcry}}
+
!style="background:#EEEEEE;"| {{#if:{{{elect|}}}|{{{elect}}}|No Electronic Market}}
+
|-
+
! style="background:#EEEEEE;"| Trading Hours
+
|{{{ooHours|N/A}}}
+
|{{{elHours|N/A}}}
+
|-
+
! style="background:#EEEEEE;"| Tick Value
+
|{{#if:{{{ooTickPt|}}}|{{{ooTickPt}}} points ({{{ooTickVal}}})|N/A}}
+
|{{#if:{{{elTickPt|}}}|{{{elTickPt}}} points ({{{elTickVal}}})|N/A}}
+
|-
+
! style="background:#EEEEEE;"| Price Limits
+
|{{{ooLimit|N/A}}}
+
|{{{elLimit|N/A}}}
+
|}
+
  
<!-- Category section -->
+
*On July 11, 2008, MGEX announced it planned to change the official closing period for the MGEX Hard Red Spring Wheat futures contract to match the options contracts from the last 30 seconds of trading to the last 60 seconds of trading. The change to the [[settlement]] price process would become more inclusive by taking into consideration [[bid]]s, [[offer]]s and [[trades]] from the final trading minute from both platforms. The changes would be made as of July 14, 2008.<ref>{{cite web|url=http://www.mgex.com/documents/MGEXAnnouncesChangestotheSettlementProcess.pdf|name=Press Release|org=Minneapolis Grain Exchange|date=July 17, 2008}}</ref>
  
{{#if:{{{commod|}}}|[[Category:{{{commod}}} Futures Contracts]]|}}
+
{{Contract|
{{#if:{{{exch|}}}|[[Category:Futures Contracts Traded on {{{exch}}}]]|}}
+
exch    = MGEX|  
{{#if:{{{elect|}}}|[[Category:Futures Contracts Traded on {{{elect}}}]]|}}
+
cname    = Hard Red Spring Wheat|
{{#if:{{{ctype|}}}|[[Category:{{{ctype}}} Futures Contracts]]|}}
+
commod   = Wheat|
 +
ctype    = Agricultural|
 +
cash    = | <!-- Y if the contract is cash-settled; leave blank if not -->
 +
months  = Mar, May, July, September (New Crop) and December|  
 +
unit    = 5,000 bushels|  
 +
ptval    = Not Applicable|
 +
tickVal  = 1/4 cent per bushel ($12.50 per contract)|  
 +
ltd      = The business day preceding the fifteenth calendar day of that contract month |
 +
elect   = Y|
 +
elHours  = 6:00 p.m.-6:00 a.m. (CT) Sunday-Friday , 9:30 a.m.-1:30 p.m.(CT) Monday-Friday |
 +
elLimit  = $.60  per bushel or $3000 per contract for every other month. No limit for spot month (limits are subject to change. Please refer to MGEX rulebook or homepage for current limit information)|
 +
elSym    = MWE
 +
outcry  = Y|
 +
ooHours  = |
 +
ooLimit  = $.60  per bushel or $3000 per contract for every other month. No limit for spot month (limits are subject to change. Please refer to MGEX rulebook or homepage for current limit information)|
 +
ooSym    = MW|
 +
options  = Y|
 +
opElect  = Y|
 +
opEHours  = 6:00 p.m. - 6:00 a.m. (CT) Sunday - Friday , 9:30 a.m. - 1:30 p.m. (CT) Monday - Friday |  
 +
opELimit  = $.60  per bushel or $3000 per contract for every other month. No limit for spot month (limits are subject to change. Please refer to MGEX rulebook or homepage for current limit information)|
 +
opESym    = OMW |
 +
opMonths  = Mar, May, July, September, December |
 +
opOHours  = 9:30 a.m. - 1:30 p.m. (CT) Monday - Friday |
 +
opOLimit  = $.60  per bushel or $3000 per contract for every other month. No limit for spot month (limits are subject to change. Please refer to MGEX rulebook or homepage for current limit information)|
 +
opOSym    = WP (puts), WC (calls)|
 +
opOutcry  = Y |
 +
opPtdesc  = Cents per bushel|
 +
opPtval  = $50/cent|
 +
opStrike  = Trading may be conducted for Options with striking price increments of 5 cents and 10 cents| <!-- Strike price interval description -->
 +
opTickPt  = 1/8 point|
 +
opTickVal = $6.25
 +
}}
  
 
+
== References ==
[[Category:MGEX Contracts]]
+
<references />
 +
[[Category:MarketsWiki Page of the Day]]

Latest revision as of 05:33, 22 February 2012

FTSE Russell banner 2016.gif

Notes

The flagship contract of MGEX, hard red spring wheat, has traded continuously since its inception. Hard red spring wheat futures and options are traded exclusively electronically on the CME Globex® Platform.

Hard red spring wheat is one of the highest-protein wheats grown. It is found in bagels, high quality breads and cereals.[1]

  • On July 11, 2008, MGEX announced it planned to change the official closing period for the MGEX Hard Red Spring Wheat futures contract to match the options contracts from the last 30 seconds of trading to the last 60 seconds of trading. The change to the settlement price process would become more inclusive by taking into consideration bids, offers and trades from the final trading minute from both platforms. The changes would be made as of July 14, 2008.[2]


Hard Red Spring Wheat futures
Exchange MGEX
Settlement Physically delivered
Contract Size 5,000 bushels
Pricing Unit Not Applicable
Tick Value 1/4 cent per bushel ($12.50 per contract)
Contract Months Mar, May, July, September (New Crop) and December
Last Trading Day The business day preceding the fifteenth calendar day of that contract month
Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A 6:00 p.m.-6:00 a.m. (CT) Sunday-Friday , 9:30 a.m.-1:30 p.m.(CT) Monday-Friday
Ticker Symbol MW MWE

outcry = Y

Price Limits $.60 per bushel or $3000 per contract for every other month. No limit for spot month (limits are subject to change. Please refer to MGEX rulebook or homepage for current limit information) $.60 per bushel or $3000 per contract for every other month. No limit for spot month (limits are subject to change. Please refer to MGEX rulebook or homepage for current limit information)
 
Hard Red Spring Wheat options
Trade Unit One futures contract
Point Value $50/cent (Cents per bushel)
Tick Value $6.25 (1/8 point)
Option Months Mar, May, July, September, December
Strike Prices Trading may be conducted for Options with striking price increments of 5 cents and 10 cents
  Open Outcry Electronic
Trading Hours 9:30 a.m. - 1:30 p.m. (CT) Monday - Friday 6:00 p.m. - 6:00 a.m. (CT) Sunday - Friday , 9:30 a.m. - 1:30 p.m. (CT) Monday - Friday
Ticker Symbol WP (puts), WC (calls) OMW
Price Limits $.60 per bushel or $3000 per contract for every other month. No limit for spot month (limits are subject to change. Please refer to MGEX rulebook or homepage for current limit information) $.60 per bushel or $3000 per contract for every other month. No limit for spot month (limits are subject to change. Please refer to MGEX rulebook or homepage for current limit information)

References

  1. MGEX Website. Minneapolis Grain Exchange.
  2. Press Release. Minneapolis Grain Exchange.