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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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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...

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MWH25 : 591-6 (-0.38%)
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Shootin' the Bull about the stopping the beating when morale improves.

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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 : 557-4 (-0.36%)
MWH25 : 591-6 (-0.38%)
KEH25 : 549-4 (-0.36%)
ZWH25 : 539-6 (-0.23%)
ZWK25 : 550-4 (-0.27%)
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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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