Hard Red Wheat Spring Futures and Options

There are three major wheat futures contracts in the United States, but MGEX hard red spring wheat futures are unique for two primary reasons:

1. HRS wheat is the only major wheat variety seeded in the spring. This Growing season means the crop is harvested in the fall, and its new-crop month is September.
2. Protein is synonymous with quality when it comes to Contract quality requirements wheat.  The MGEX HRS wheat futures contract is the only major wheat futures contract with a required minimum protein for its deliverable stocks. It is viewed as representing high-quality wheat and is a favorite of bread flour millers when they look to price their future wheat needs and manage price risk