Moore Research Center, Inc.

The old Kansas City Board of Trade (KCBT) wheat contract called for Hard Red Winter (HRW) wheat.  Since the CME Group purchased the KCBT contract, it now trades at the old Chicago Board of Trade (CBOT) where Soft Red Winter (SRW) had been the primary wheat contract.  The symbol for the old Kansas City Hard Red Winter Wheat contract remains KW.  (The symbol for the old CBOT Soft Red Winter Wheat remains W; that for Minneapolis Hard Red Spring wheat remains MW.)