On this page
Contract specifications
- Product
- Wheat (ZW)
- Exchange
- CBOT
- Year
- 2027
- Deliveries listed
- 5
- First of the year
- ZWH7 (Mar 12, 2027)
- Last of the year
- ZWZ7 (Dec 14, 2027)
- Tick size
- 0.25
- Tick value
- $12.50
- Point value
- $50.00
Every ZW delivery listed in 2027
ZW trades 5 delivery months in 2027 (H, K, N, U, Z). Dates are computed from the exchange rule rather than stored. The engine counts Monday to Friday and holds no CME holiday table, so a date next to a public holiday can be one day off the exchange calendar.
The letter in a contract symbol is its delivery month: H = March, K = May, N = July, U = September, Z = December. The digit that follows is the year.
| Contract | Delivery | Last trading day | Default rolls on |
|---|---|---|---|
| ZWH7 | Mar 2027 | Mar 12, 2027 | Mar 8, 2027 |
| ZWK7 | May 2027 | May 14, 2027 | May 10, 2027 |
| ZWN7 | Jul 2027 | Jul 14, 2027 | Jul 10, 2027 |
| ZWU7 | Sep 2027 | Sep 14, 2027 | Sep 10, 2027 |
| ZWZ7 | Dec 2027 | Dec 14, 2027 | Dec 10, 2027 |
The rule that sets these dates
Trading terminates on the business day preceding the 15th calendar day of the contract month.
When the volume moves between these months
Grain contracts follow the crop calendar rather than the quarter, so the listed months are uneven and the roll dates do not fall at regular intervals. The active month is the one carrying the volume, not the nearest by date.
What one tick of ZW is worth
The minimum price fluctuation is 0.25, which is $12.50 per contract on a multiplier of 50. A full point is $50.00. These are the values the app itself trades on, so the rows of a ZW footprint and the P&L on a ZW position come from the same numbers.
Related pages
- ZW — Wheat
- ZWH7
- ZWK7
- ZWN7
- Contract roll
- Futures month codes
- Front month contract
- Tick value
- Roll yield
- Back month contract
In the same section
This page in other languages
Frequently asked questions
- When do ZW futures expire in 2027?
- ZW has 5 listed deliveries in 2027. The first last trading day is March 12, 2027 and the last is December 14, 2027. The table above gives every month in between.
- How many ZW contracts are listed in 2027?
- 5, on the delivery month codes H, K, N, U, Z.
- Which ZW contract should I be trading?
- The one carrying the volume, which is usually the nearest delivery that has not reached its roll date. Compare the traded volume and open interest of the two nearest months rather than going by the last trading day alone.