International derivatives marketplace CME Group today announced that it has completed its first physical delivery cycle of Hard Red Spring Wheat futures, with 182 contracts delivered on July 1, 2025, the first delivery date since the product’s April 14 launch.
“Completion of the first delivery cycle is another important milestone for our new Hard Red Spring Wheat futures contract,” said John Ricci, Managing Director and Global Head of Agricultural Products at CME Group. “The contract is already providing value, with over 460,000 contracts traded since the April launch as more industry participants turn to CME Group to manage all aspects of wheat market risk.”
Hard Red Spring Wheat futures are physically delivered using shipping certificates, with delivery locations including the Minneapolis/St. Paul/Red Wing and Duluth/Superior switching districts, and an origin point in the Red River Valley encompassing eastern North Dakota and northwestern Minnesota. All of CME Group’s wheat products are cleared within a single clearing house, offering additional capital efficiencies and increased spread capabilities to market participants.
Hard Red Spring Wheat futures and options are listed by and subject to the rules of CBOT.
