Buying and Selling Wheat
Wheat is bought and sold on a vigorous and complex world market. U.S. wheat can be purchased by anyone around the world through private companies. Here’s some basic information about the wheat trade.
There are three key U.S. wheat markets, the Chicago Board of Trade, the Kansas City Board of Trade and the Minneapolis Grain Exchange.
The Chicago Board of Trade, part of the CME Group, offers futures and options contracts for soft red winter (SRW) wheat. Visit the CBOT wheat information page for more details and current market pricing.
The Kansas City Board of Trade offers wheat futures and options for hard red winter wheat (HRW). KCBT offers current market information and more information about its products off of its home page.
The Minneapolis Grain Exchange, known as MGEX, is the principal market for hard red spring wheat (HRS). MGEX also offers index and options contracts on hard red spring wheat (HRS), hard red winter wheat (HRW) and soft red winter wheat (SRW). More information and current prices quotes are available on the MGEX home page.
Buying U.S. Wheat
U.S. Wheat Associates is the industry’s market development organization working in 90 countries on behalf of America’s wheat producers. U.S. Wheat doesn’t buy or sell wheat directly, but helps everyone else learn how to do so. For much more about the U.S. wheat purchasing process, visit U.S. Wheat’s online buyer’s guide or read this briefer about the reliability of U.S. wheat purchases.
Also visit wheatflourbook.org, which provides an introduction to the marketing and quality evaluation of wheat and flour.