Wheat (SRW) Futures Contract Specifications
ZW · CBOT · one contract = 5,000 bushels
Wheat (SRW) futures (ZW) trade on CBOT in 0.25-increment ticks worth $12.50 per contract; a full 1.0-point move is $50.00. One contract covers 5,000 bushels.
Specification table
| Name | Wheat (SRW) |
| Exchange | CBOT |
| Ticker symbol | ZW |
| Contract unit | 5,000 bushels |
| Tick size | 0.25 |
| Tick value | $12.50 |
| Point value | $50.00 |
| CFTC contract code | 001602 |
| COT report families | legacy, disagg |
| Quote convention | quoted in cents/bushel; tick is 1/4 cent |
Worked tick math
A 10-tick move on 1 Wheat (SRW) contract (ZW) is $125.00 — tick size 0.25 × tick value $12.50. A 1-point move is 4 ticks = $50.00. Ten contracts moving 5 ticks = $625.00.
Run your own numbers: Wheat (SRW) futures calculator.
Positioning: large speculators are net short 7,009 contracts as of the 2026-07-21 COT report — full Wheat (SRW) COT data.
FAQ
- What is the tick size and value of Wheat (SRW) futures?
- Wheat (SRW) (ZW, CBOT) moves in 0.25 increments worth $12.50 per contract.
- What does one ZW contract cover?
- One contract covers 5,000 bushels.
- How much is a full point on ZW?
- $50.00 — tick value ÷ tick size.
Related
Wheat (SRW) COT report
Wheat (SRW) calculator
Wheat (SRW) COT history (CSV)
All contract specs
All calculators
Specs verified against exchange sources 2026-07-25; the exchange's own contract page is always authoritative. Not investment advice.