Futures

As first announced in March 2025 and subsequently approved by the CFTC, MIAX Futures has implemented changes that impact the terms and conditions of the Minneapolis Hard Red Spring Wheat futures contract (Minneapolis HRSW). Effective July 24, 2026, the following material changes have been implemented:

1. The delivery instrument for physical settlement of Minneapolis HRSW futures has changed from warehouse receipts to shipping certificates. Warehouse receipts delivered prior to July 24, 2026 are no longer deliverable. Please see additional details in the previously published June 18, 2026 Alert.
2. Hard red spring wheat delivered against Minneapolis HRSW is required to have a minimum falling number of 200 seconds.
3. Hard red spring wheat delivered against Minneapolis HRSW is required to list a country-of-origin designation of either U.S. or Canadian.
4. Approved eligible facilities in the new North Dakota / Minnesota Territory may deliver hard red spring wheat against Minneapolis HRSW at a twenty cents per bushel discount.
5. The maximum load-out charge for hard red spring wheat delivered against Minneapolis HRSW after July 23, 2026 is 10 cents per bushel and the maximum storage charge is 8 cents per bushel per month. Load-out by shuttle train will be permitted at an additional 14 cents per bushel premium.

The complete set of changes has been incorporated into the Exchange rulebook, which is available here.

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

For any additional information, please contact MIAX at MIAXFutures@miaxglobal.com.

To revise a current MIAX Alert subscription or to register to receive alerts for MIAX Futures, please visit MIAX Email Subscriptions.