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Hard Red Wheat Jul '24 (KEN24)

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Hard Red Wheat Futures Market News and Commentary

Wheat Holding Higher on Tuesday

The wheat complex is mixed, with the winter wheat holding up on Tuesday. Chicago contracts are up 1 to 4 ½ cents on the day. Kansas City futures are fractionally to 2 cents higher. MPLS spring wheat futures are bringing up the rear, down 3 to 4 cents.

The USDA Crop Progress report from Monday afternoon showed 69% of the US winter wheat crop as headed, 12% ahead of the average pace as of Sunday. Winter wheat conditions were listed at 49% gd/ex, down 1% from last week and taking the Brugler500 index 1 point lower to 333. Conditions for the HRW crop saw KS up 8 points, with CO down 14, OK 4 points lower and TX down 3. IL was down a sharp 16 points. The Southern Plains is expected to remain dry for the next week. Spring wheat planting was at 79%, 14% above the 5-year average. Emergence was at 43%, 10% above the average pace. 

IKAR cut their Russian wheat crop estimate by another 2.5 MMT from their projection lats week to 83.5 MMT. Chinese customs data shows calendar year 202... Read more

Contract Specifications

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Contract
KC Hard Red Winter Wheat
Contract Size
5,000 bushels
Tick Size
1/4 cent per bushel ($12.50 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Settles 1:15p.m.) (Sun-Fri) CST
Exchange
KCBT
Point Value
$50
Margin/Maintenance
$2,200/2,000
First Notice Date
06/28/24 (38 days)
Expiration Date
07/12/24 (52 days)

Seasonal Chart

Hard Red Wheat Jul '24
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
105,944 (-1,291)
90,099 (+7,166)
Non-Commercials - Long / Short
55,634 (+3,468)
66,433 (-3,389)
Producers - Long / Short
37,834 (+183)
80,599 (+7,054)
Swap Dealers - Long / Short
60,045 (-1,712)
1,435 (-126)
Managed Money - Long / Short
38,824 (+2,482)
55,730 (-4,424)
Other Reportables - Long / Short
16,810 (+986)
10,703 (+1,035)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
581-6 +20.28%
on 04/22/24
710-0 -1.44%
on 05/13/24
+116-6 (+20.03%)
since 04/19/24
3-Month
543-2 +28.81%
on 03/06/24
710-0 -1.44%
on 05/13/24
+131-6 (+23.20%)
since 02/21/24
52-Week
543-2 +28.81%
on 03/06/24
873-0 -19.85%
on 07/25/23
-51-4 (-6.86%)
since 05/19/23

More Hard Red Wheat Quotes

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Most Recent Stories

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After reaching highs in 2022, corn, soybean, and wheat prices plunged. The leading grain and oilseed markets feed and increasingly power the world. After reaching bottoms over the past months, prices have...

CORN : 20.42 (-0.73%)
SOYB : 25.74 (-0.12%)
WEAT : 6.43 (+0.78%)
ZSN24 : 1234-4 (-1.08%)
ZCN24 : 457-0 (-0.76%)
ZWN24 : 697-4 (+1.27%)
Wheat Holding Higher on Tuesday

The wheat complex is mixed, with the winter wheat holding up on Tuesday. Chicago contracts are up 1 to 4 ½ cents on the day. Kansas City futures are fractionally to 2 cents higher. MPLS spring wheat futures...

ZWN24 : 697-4 (+1.27%)
ZWU24 : 716-6 (+1.13%)
KEN24 : 702-0 (+0.75%)
KEU24 : 716-0 (+0.74%)
MWN24 : 739-0 (-0.03%)
Soybeans Falling on Turnaround Tuesday

Soybeans are trading with losses of 6 to 15 cents, as the nearbys are the weakest on some bear spreading. Soymeal futures are showing losses of $3.90 to $4.10/ton. Soy Oil is posting losses of 47 to 52...

ZMN24 : 372.2 (-0.51%)
ZLN24 : 45.63 (-1.49%)
ZSN24 : 1234-4 (-1.08%)
ZSPAUS.CM : 11.7320 (-1.12%)
ZSQ24 : 1232-0 (-0.88%)
ZSX24 : 1210-6 (-0.49%)
ZSPX24US.CM : 11.4915 (-0.52%)
Corn Back Lower on Tuesday

Corn futures are trading with 3 to 5 cent losses so far on the Tuesday session, with USDA confirming planning pace picking back up. Rains over the next couple days are limited to the WCB, with the ECB...

ZCN24 : 457-0 (-0.76%)
ZCPAUS.CM : 4.3327 (-0.79%)
ZCU24 : 467-6 (-0.69%)
ZCZ24 : 481-6 (-0.52%)
ZCPZ24US.CM : 4.5186 (-0.56%)
My Annual Public Service Announcement regarding NASS' Weekly Reports

I know there are new readers to this site every year. Given that, I feel compelled to post my annual Public Service Announcement regarding NASS' weekly numbers.

ICY00 : 437.32s (+1.86%)
Crop Progress Pressures Prices Overnight. A Buying Opportunity?

Yesterday’s Crop Progress report showed planting in the U.S. ahead of analyst expectations which pressure prices in the overnight trade. Will support hold?

Soybeans Heading Lower on Turnaround Tuesday

Soybeans are posting 7 to 12 cent lower trade on Tuesday morning. They ended the Monday session with gains of 6 ½ to 20 cents across the board, led by the front months. Soymeal futures saw $1.30 to $5.30/ton...

ZMN24 : 372.2 (-0.51%)
ZLN24 : 45.63 (-1.49%)
ZSN24 : 1234-4 (-1.08%)
ZSPAUS.CM : 11.7320 (-1.12%)
ZSQ24 : 1232-0 (-0.88%)
ZSX24 : 1210-6 (-0.49%)
ZSPX24US.CM : 11.4915 (-0.52%)
Corn Pulling Back to Start Tuesday After USDA Confirms Planting Catching Up

Corn prices are trading 2 to 4 cents lower this Tuesday morning. Futures were rallying out of the 8:30 am CDT gate on Monday morning, with strength across the wheat complex helping out. Corn posted gains...

ZCN24 : 457-0 (-0.76%)
ZCPAUS.CM : 4.3327 (-0.79%)
ZCU24 : 467-6 (-0.69%)
ZCZ24 : 481-6 (-0.52%)
ZCPZ24US.CM : 4.5186 (-0.56%)
Wheat Dipping Back Lower

The wheat complex is trading sightly lower this morning after starting off the week with a huge Monday rally. Chicago contracts closed the Monday session with 16 ½ to 37 ½ cent gains. Kansas City futures...

ZWN24 : 697-4 (+1.27%)
ZWU24 : 716-6 (+1.13%)
KEN24 : 702-0 (+0.75%)
KEU24 : 716-0 (+0.74%)
MWN24 : 739-0 (-0.03%)
Wheat Is Holding 23.6%, Hogs Hit 61.8% Target

You only have to look at the chart below to see how well the market adheres to the Fibonacci retracements.

ZWN24 : 697-4 (+1.27%)
HEM24 : 96.600 (-0.34%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Average Signal Strength.

Key Turning Points

3rd Resistance Point 749-6
2nd Resistance Point 725-2
1st Resistance Point 711-0
Last Price 702-6
1st Support Level 672-2
2nd Support Level 647-6
3rd Support Level 633-4

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52-Week High 873-0
Fibonacci 61.8% 747-0
Fibonacci 50% 708-1
Last Price 702-6
Fibonacci 38.2% 669-2
52-Week Low 543-2

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