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Explain in paragraphs the understanding of this future contract for wheat CONTRACT UNIT 5,000 bushels (~ 136 metric tons) PRICE QUOTATION U.S. cents per bushel

Explain in paragraphs the understanding of this future contract for wheat

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CONTRACT UNIT 5,000 bushels (~ 136 metric tons) PRICE QUOTATION U.S. cents per bushel CME Globex: Sunday - Friday: 7:00 p.m. 7:45 a.m. CT and Monday - Friday: 8:30 a.m. 1:20 p.m. CT TRADING HOURS TAS: Sunday - Friday 7:00 p.m. - 7:45 a.m. and ? Monday - Friday 8:30 a.m. - 1:15 p.m. CT CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. - 6:00 p.m. CT MINIMUM PRICE FLUCTUATION 1/4 of one cent (0.0025) per bushel = $12.50 PRODUCT CODE CME Globex: ZW CME ClearPort: W Clearing: W TAS: ZWT 15 monthly contracts of Mar, May, Jul, Sep, Dec listed annually following the termination of trading in the July contract of the current year. LISTED CONTRACTS SETTLEMENT METHOD Deliverable TERMINATION OF TRADING Trading terminates on the business day prior to the 15th day of the contract month. Trading at Settlement (TAS) is subject to the requirements of Rule 524.A. TAS trades off a "Base Price" of zero (equal to the daily settlement price) to create a differential versus the daily settlement price in the underlying futures contract month. The TAS clearing price equals the daily settlement price of the underlying futures contract month plus or minus the TAS transaction price. TRADE AT MARKER OR TRADE AT SETTLEMENT RULES TAS Table CONTRACT UNIT 5,000 bushels (~ 136 metric tons) PRICE QUOTATION U.S. cents per bushel CME Globex: Sunday - Friday: 7:00 p.m. 7:45 a.m. CT and Monday - Friday: 8:30 a.m. 1:20 p.m. CT TRADING HOURS TAS: Sunday - Friday 7:00 p.m. - 7:45 a.m. and ? Monday - Friday 8:30 a.m. - 1:15 p.m. CT CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. - 6:00 p.m. CT MINIMUM PRICE FLUCTUATION 1/4 of one cent (0.0025) per bushel = $12.50 PRODUCT CODE CME Globex: ZW CME ClearPort: W Clearing: W TAS: ZWT 15 monthly contracts of Mar, May, Jul, Sep, Dec listed annually following the termination of trading in the July contract of the current year. LISTED CONTRACTS SETTLEMENT METHOD Deliverable TERMINATION OF TRADING Trading terminates on the business day prior to the 15th day of the contract month. Trading at Settlement (TAS) is subject to the requirements of Rule 524.A. TAS trades off a "Base Price" of zero (equal to the daily settlement price) to create a differential versus the daily settlement price in the underlying futures contract month. The TAS clearing price equals the daily settlement price of the underlying futures contract month plus or minus the TAS transaction price. TRADE AT MARKER OR TRADE AT SETTLEMENT RULES TAS Table

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