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Hard Red Wheat May '23 (KEK23)

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Hard Red Wheat Futures Market News and Commentary

Wheat Posts Gains Out of Christmas Break

The wheat market pushed higher across the three markets on Thursday. Chicago SRW futures were up 4 ¾ to 7 cents on the session. KC HRW contracts closed with 7 to 8 cent gains across the board. MPLS spring wheat futures were 3 ½ to 4 3/4 cents in the green on the day.

Ahead of the delayed Export Sales report, the trade is looking for 250,000 to 600,000 MT in all wheat sales for the week that ended on December 19.

Algeria purchased 1.17 MMT of wheat in a tender on Tuesday, revised up from the initially reported 630,000 MT. Russia’s IKAR estimates the country’s wheat exports for 2025/26 to fall to 41 MMT, with expectations of the county’s market share to drop from 25% to 20%.

Mar 25 CBOT Wheat  closed at $5.41, up 6 1/4 cents,

May 25 CBOT Wheat  closed at $5.52, up 6 3/4 cents,

Mar 25 KCBT Wheat  closed at $5.51 1/2, up 7 3/4 cents,

May 25 KCBT Wheat  closed at $5.59 1/2, up 7 3/4 cents,

Mar 25 MGEX Wheat  closed at $5.94, up 4 1/2 cents,

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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 Dec 17, 2024

View Chart Details
Commercials - Long / Short
114,339 (+1,698)
97,506 (+5,783)
Non-Commercials - Long / Short
73,560 (+1,386)
89,678 (-1,982)
Producers - Long / Short
36,400 (-1,635)
79,776 (+3,882)
Swap Dealers - Long / Short
69,811 (+1,606)
9,602 (+174)
Managed Money - Long / Short
49,717 (+1,187)
83,088 (-1,933)
Other Reportables - Long / Short
23,843 (+199)
6,590 (-49)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

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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Most Recent Stories

More News
Wheat Posts Gains Out of Christmas Break

The wheat market pushed higher across the three markets on Thursday. Chicago SRW futures were up 4 ¾ to 7 cents on the session. KC HRW contracts closed with 7 to 8 cent gains across the board. MPLS spring...

KEK25 : 557-0 (-0.45%)
MWH25 : 591-2 (-0.46%)
KEH25 : 548-6 (-0.50%)
ZWH25 : 539-0 (-0.37%)
ZWK25 : 550-0 (-0.36%)
Soybeans Rally on Soymeal Short Covering

The soybean market closed out the Thursday session with contracts up 12 ¼ to 17 ½ cents across the board. CmdtyView’s national front month Cash Bean price was 13 cents at $9.37. Soymeal futures led...

ZLH25 : 40.30 (+1.05%)
ZMH25 : 312.2 (-0.86%)
ZSPAUS.CM : 9.3696 (+1.41%)
ZSF25 : 986-0 (-0.20%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 994-4 (-0.28%)
Corn Post Jolly Trade on Thursday

Corn futures came out of the Christmas holiday break with contracts up 2 ¾ to 6 ½ cents and hitting the highest prices since June. The national average Cash Corn price from cmdtyView was up 5 cents at...

ZCPAUS.CM : 4.2412 (+1.19%)
ZCZ24 : 430-0s (-0.41%)
ZCH25 : 452-6 (-0.22%)
ZCK25 : 459-6 (-0.16%)
Do Grains and Oilseed Futures Offer Value for 2025?

After reaching multi-year highs, and in CBOT wheat’s case, an all-time peak in 2022, grain and oilseed futures prices have plunged. Farmers in the Northern Hemisphere are on vacation after the 2024 harvest,...

ZCH25 : 452-6 (-0.22%)
ZWH25 : 539-0 (-0.37%)
SOYB : 21.14 (+1.85%)
CORN : 18.63 (+1.47%)
WEAT : 4.74 (+0.85%)
ZSF25 : 986-0 (-0.20%)
Shootin' the Bull about the stopping the beating when morale improves.

Of one thing that is for sure, with packing and production capacity well over the number of animals to take care of, rationing will continue.

Corn Bulls Feeling Jolly After Christmas Break

Corn price action is trading 3 to 5 cents higher so far on Thursday’s midday, as traders come out of the Christmas Holiday. The national average Cash Corn price from cmdtyView is up 3 1/4 cent at $4.22...

ZCPAUS.CM : 4.2412 (+1.19%)
ZCZ24 : 430-0s (-0.41%)
ZCH25 : 452-6 (-0.22%)
ZCK25 : 459-6 (-0.16%)
Soybeans Rallying with Meal as Specs Covering Shorts on Argentine Dryness

The soybean is trading with double digit 10 to 15 cent gains so far on Thursday as the meal rally is providing product support. CmdtyView’s national front month Cash Bean price is up 11 1/2 cents at...

ZLH25 : 40.30 (+1.05%)
ZMH25 : 312.2 (-0.86%)
ZSPAUS.CM : 9.3696 (+1.41%)
ZSF25 : 986-0 (-0.20%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 994-4 (-0.28%)
Wheat Popping Higher on Thursday

The wheat market is trading with gains on Thursday’s midday across all three markets. Chicago SRW futures are up 8 to 9 cents on the session. KC HRW contracts are 9 to 10 cents lower across the nearby...

KEK25 : 557-0 (-0.45%)
MWH25 : 591-2 (-0.46%)
KEH25 : 548-6 (-0.50%)
ZWH25 : 539-0 (-0.37%)
ZWK25 : 550-0 (-0.36%)
Soybeans Face Potential Resistance

Soybeans have rallied

ZSH25 : 994-4 (-0.28%)
What's Behind the Real Breakdown of the Brazilian Real?

This week has seen the Brazilian Real fall to a new all-time low versus the US dollar.

^BRLUSD : 0.16178 (+0.02%)

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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