The wheat market is traded at three different exchanges: the Chicago Board of Trade (for soft-red winter wheat), the Kansas City Board of Trade (for hard-red winter wheat) and the Minneapolis Grain Exchange (for hard-red spring wheat). Regular session trading hours for the wheat market are from 9:30 AM Central Time to 1:15 PM Central Time. A nighttime Eurex session is also traded. The market is traded in 5,000 bushel contracts, with a minimum price fluctuation of 1/4 cent per bushel indicating a change in value of $12.50 per contract. The United States is one of the world's five largest wheat producing countries, and Kansas and North Dakota are normally the leading wheat producing states.
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