Futures

As previously announced in the March 4, 2025 Alert, MIAX Futures will implement changes that will impact the terms and conditions of the Minneapolis Hard Red Spring Wheat (Minneapolis HRSW) contract effective with the September 2026 delivery period (July 24, 2026). These amendments have received formal CFTC approval and include the following material changes:

1. MIAX Futures will convert the delivery instrument for Minneapolis HRSW Contracts from Warehouse Receipts to Shipping Certificates. This conversion will include automatic monthly storage pay/collects. Please see additional details in the previously announced September 29, 2025 Alert.
2. Hard red spring wheat delivered against a Minneapolis HRSW Contract will be required to have a minimum falling number of 200.
3. Hard red spring wheat delivered against a Minneapolis HRSW Contract will be required to list a country of origin designation.
4. MIAX Futures will be adding a North Dakota / Minnesota Territory interior delivery point for hard red spring wheat delivered against a Minneapolis HRSW Contract.
5. MIAX Futures will be increasing the maximum load-out charges for hard red spring wheat delivered against a Minneapolis HRSW Contract from 8 cents to 10 cents per bushel, and the maximum storage charges from 7 cents to 8 cents per bushel per month.

For the complete set of changes, please see the CFTC approved rules on the website pending implementation here.

For additional information on Shipping Certificates and Regular Elevator information, see the FAQ here.

For any additional information, please contact MIAX Futures Market Regulation Department at MIAXFuturesMarketReg@miaxglobal.com.

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