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Wheat May '24 (ZWK24)

657-0s -13-2 (-1.98%) 05/14/24 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Tue, May 14th, 2024
Day Low
657-0
Day High
657-0
Open 0-0
Previous Close 670-2 670-2
Volume 19 19
Open Interest 35 35
Stochastic %K 94.21% 94.21%
Weighted Alpha +3.92 +3.92
5-Day Change +32-2 (+5.16%) +32-2 (+5.16%)
52-Week Range 523-4 - 808-6 523-4 - 808-6
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Wheat Futures Market News and Commentary

Wheat Falls as USDA Raises Stocks Estimate

The wheat complex gave into the bears on Thursday, falling lower across the three exchanges, as the USDA was a little more bearish this morning. Chicago SRW futures were back down 2 to 5 cents in the front months. Kansas City HRW contracts were 7 to 10 cents lower on the session. MPLS spring wheat was 5 to 7 cents in the red at the close.

USDA released Export Sales data this morning, with 107,280 MT of wheat reported. That was back down from the previous week, but was still the second largest out of the last 4 weeks. Unknown was the buyer of 92,800 MT, with 40,000 MT sold to Nigeria. New crop sales were tallied at 107,728 MT, the second largest for the marketing year so far. Japan was the buyer of 64,200 MT, with 22,500 MT sold to Mexico.

US wheat ending stocks were increased by 27 mbu this morning to 846 mbu. That was well above estimates and came as imports were up 10 mbu, exports trimmed by 15 mbu and seed trimmed by 2 mbu. World ending stocks were raised by 0.62 MMT... Read more

Contract Specifications

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Contract
Chicago Soft 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
CBOT
Point Value
$50
Margin/Maintenance
$1,925/1,750
First Notice Date
04/30/24
Expiration Date
05/14/24 (expired)

Seasonal Chart

Wheat May '24
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Apr 1, 2025

View Chart Details
Commercials - Long / Short
182,312 (+12,222)
86,676 (-4,044)
Non-Commercials - Long / Short
119,598 (-2,165)
222,398 (+18,087)
Producers - Long / Short
83,201 (+12,870)
59,242 (-6,017)
Swap Dealers - Long / Short
78,989 (-1,228)
7,312 (+1,393)
Managed Money - Long / Short
79,588 (+3,629)
180,172 (+14,076)
Other Reportables - Long / Short
40,010 (-5,794)
42,226 (+4,011)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
534-2 +22.98%
on 04/18/24
Period Open: 556-0
671-0 -2.09%
on 05/13/24
+101-0 (+18.17%)
since 04/12/24
3-Month
523-4 +25.50%
on 03/11/24
Period Open: 583-0
671-0 -2.09%
on 05/13/24
+74-0 (+12.69%)
since 02/14/24
52-Week
523-4 +25.50%
on 03/11/24
Period Open: 682-4
808-6 -18.76%
on 07/25/23
-25-4 (-3.74%)
since 05/12/23

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 657-0
2nd Resistance Point 657-0
1st Resistance Point 657-0
Last Price 657-0s
1st Support Level 657-0
2nd Support Level 657-0
3rd Support Level 657-0

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52-Week High 808-6
Fibonacci 61.8% 699-6
Fibonacci 50% 666-1
Last Price 657-0s
Fibonacci 38.2% 632-4
52-Week Low 523-4

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