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Hard Red Wheat May '23 (KEK23)

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Hard Red Wheat Futures Market News and Commentary

Wheat Closes Lower to Round Out 2025 Trade

The wheat complex was weaker on the Wednesday session with all three exchanges closing out 2025 with losses. Chicago SRW futures were 3 to 4 cents lower. KC HRW futures were 7 to 8 cents in the red on Wednesday. MPLS spring wheat was down 4 to 5 cents at the close. 

The market will be closed on Thursday for New Years Day, with a hard open at 8:30 am CST on Friday. 

Commitment of Traders data from this afternoon showed spec traders holding a net short of 91,665 contracts in CBT wheat futures and options as of 12/23, an increase of 24,747 contracts on the week. Managed money in KC wheat were net short 24,749 contracts, a reduction of 964 contracts.

Export Sales data from this morning showed just 147,834 MT in wheat sales during the week of 12/18. That was in the middle of analysts’ estimates of between 50,000 MT in net reductions and sales of 400,000 MT. That was down 35.83% from last week and 75.86% below the same week last year.

Mar 26 CBOT Wheat  closed at $... Read more

Contract Specifications

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Contract
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
CBOT
Point Value
$50
Margin/Maintenance
$1,760/1,600
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 23, 2025

View Chart Details
Commercials - Long / Short
121,535 (+3,532)
108,143 (+4,575)
Non-Commercials - Long / Short
83,434 (-2,076)
92,219 (-4,349)
Producers - Long / Short
42,948 (+509)
93,376 (+1,266)
Swap Dealers - Long / Short
67,047 (-104)
3,227 (+182)
Managed Money - Long / Short
61,441 (-572)
86,797 (-1,825)
Other Reportables - Long / Short
21,993 (-1,504)
5,422 (-2,524)
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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Wheat Closes Lower to Round Out 2025 Trade

The wheat complex was weaker on the Wednesday session with all three exchanges closing out 2025 with losses. Chicago SRW futures were 3 to 4 cents lower. KC HRW futures were 7 to 8 cents in the red on...

KEK26 : 528-0s (-1.31%)
KEH26 : 514-6s (-1.39%)
MWH26 : 5.7400s (-0.78%)
ZWH26 : 507-0s (-0.73%)
ZWK26 : 518-4s (-0.67%)
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BJG26 : 1.4970s (-1.71%)
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MLH26 : 189.75s (unch)
ZCH26 : 440-2s (-0.06%)
Soybeans Facing New Years Eve Pressure

Soybeans are falling 11 to 12 cents in the nearbys on the New Years Eve session. There were 1,062 deliveries issued against January beans on FND. The cmdtyView national average Cash Bean price is 12 cents...

ZSPAUS.CM : 9.6367 (unch)
ZLH26 : 48.56s (-1.78%)
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ZSF26 : 1030-4s (-1.51%)
ZSH26 : 1047-4s (-1.39%)
Wheat Falling on Final Trade Day of 2025

The wheat complex is weaker so far on the Wednesday session. Chicago SRW futures are 2 to 3 cents lower. KC HRW futures are 5 to 6 cents in the red on Wednesday. MPLS spring wheat is 2 to 3 cents in the...

KEK26 : 528-0s (-1.31%)
KEH26 : 514-6s (-1.39%)
MWH26 : 5.7400s (-0.78%)
ZWH26 : 507-0s (-0.73%)
ZWK26 : 518-4s (-0.67%)
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ZCZ25 : 431-4s (-0.86%)
ZCK26 : 448-2s (-0.06%)
ZCH26 : 440-2s (-0.06%)
ZCPAUS.CM : 3.9584 (-0.11%)

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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