Currently the last trading day for wheat futures contracts is the business day preceding the last seven (7) business days of the contract month.
The last trading day is changing to the business day preceding the fifteenth (15th) calendar day of that month.
The new last trading day will be effective with the September 2004 contract month. The last trading day for that contract will be Tuesday, Sept. 14. Therefore, anyone entering into a wheat futures position after the July 2004 contract month will be subject to the amended last trading day.
The amendment pertaining to the last trading day does not affect the last delivery day, which shall remain the last business day of the delivery month.
The Kansas City Board of Trade, chartered in 1876, is the world's largest futures market for hard red winter wheat.
