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Hard Red Wheat May '23 (KEK23)

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Hard Red Wheat Futures Market News and Commentary

Wheat Gives into Week-End Pressure

The wheat complex closed with losses across the board on Friday. Chicago SRW futures were down 3 1/4 to 4 3/4 cents across the board on the day, with December still up 7 ¾ cents on the week. KC HRW contracts posted 1 ¼ to 2 ½ cent losses across most contracts on Friday, with December 14 ¼ cents higher on the week. MPLS spring wheat was down fractionally to 2 1/4 cents on the Friday session, with Dec up 13 ¾ cents for the week. December wheat options expired today, with first notice day next Friday. The US dollar index is extended its strength to 2-year highs to add some pressure.

CFTC’s Commitment of Traders report tallied managed money in Chicago wheat at a net short 51,546 contracts, an increase of 6,239 contracts on the week. In KC, the were net shoer 29,375 contracts, a 4,277 jump since the previous Tuesday. For MGE spring wheat, they were near a record net short, at 30,002 contracts, an additional 7,578 contracts from the week prior. 

Export Sales data released on T... 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
$2,090/1,900
First Notice Date
04/28/23
Expiration Date
05/12/23 (expired)

Seasonal Chart

Hard Red Wheat May '23
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Nov 19, 2024

View Chart Details
Commercials - Long / Short
110,881 (-6,021)
93,464 (-3,030)
Non-Commercials - Long / Short
68,406 (+4,820)
84,820 (+4,260)
Producers - Long / Short
37,930 (+2,601)
81,733 (+1,611)
Swap Dealers - Long / Short
65,969 (-3,191)
4,749 (+790)
Managed Money - Long / Short
45,485 (+4,334)
75,867 (+8,535)
Other Reportables - Long / Short
22,921 (+486)
8,953 (-4,275)
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Price Performance

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Period Period Low Period High Performance
1-Month
769-4 +15.89%
on 04/27/23
932-4 -4.37%
on 05/10/23
+28-2 (+3.27%)
since 04/12/23
3-Month
769-4 +15.89%
on 04/27/23
932-4 -4.37%
on 05/10/23
-5-0 (-0.56%)
since 02/10/23
52-Week
769-4 +15.89%
on 04/27/23
1326-2 -32.76%
on 05/17/22
-344-4 (-27.87%)
since 05/12/22

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Wheat Gives into Week-End Pressure

The wheat complex closed with losses across the board on Friday. Chicago SRW futures were down 3 1/4 to 4 3/4 cents across the board on the day, with December still up 7 ¾ cents on the week. KC HRW contracts...

KEH25 : 565-4s (-0.31%)
MWZ24 : 586-0s (-0.34%)
KEZ24 : 554-2s (-0.23%)
ZWZ24 : 544-2s (-0.82%)
ZWH25 : 564-6s (-0.83%)
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March 25 Corn Examined

Wheat Facing Sell Pressure on Friday

The wheat complex is heading back lower on Friday. Chicago SRW futures are down 4 to 5 cents across the nearbys. KC HRW contracts are showing fractional to 3 cent losses. MPLS spring wheat is down fractionally...

KEH25 : 565-4s (-0.31%)
MWZ24 : 586-0s (-0.34%)
KEZ24 : 554-2s (-0.23%)
ZWZ24 : 544-2s (-0.82%)
ZWH25 : 564-6s (-0.83%)
Corn Sticking Near Unchanged at Midday

The corn market showing fractionally mixed trade so far on Friday. December options expire today. The national average Cash Corn price from cmdtyView is down 1/2 cent at $4.03 1/4 per bu. Spillover pressure...

ZCPAUS.CM : 4.0258 (-0.27%)
ZCZ24 : 425-4s (-0.29%)
ZCZ24 : 425-4s (-0.29%)
ZCH25 : 435-2s (-0.23%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 891-6
2nd Resistance Point 891-6
1st Resistance Point 891-6
Last Price 891-6s
1st Support Level 891-6
2nd Support Level 891-6
3rd Support Level 891-6

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52-Week High 1326-2
Fibonacci 61.8% 1113-5
Fibonacci 50% 1047-7
Fibonacci 38.2% 982-1
Last Price 891-6s
52-Week Low 769-4

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