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Hard Red Wheat May '23 (KEK23)

891-6s unch (unch) 05/12/23 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Fri, May 12th, 2023
Day Low
891-6
Day High
891-6
Open 0-0
Previous Close 891-6 891-6
Volume 0 0
Open Interest 0 0
Stochastic %K 77.81% 77.81%
Weighted Alpha -20.85 -20.85
5-Day Change +12-0 (+1.36%) +12-0 (+1.36%)
52-Week Range 769-4 - 1326-2 769-4 - 1326-2
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Hard Red Wheat Futures Market News and Commentary

Wheat Falls Double Digits to Start the Week

The three wheat markets closed with weakness on Monday, as contracts were pushed lower to start the week. Chicago SRW futures posted 10 to 11 cent losses. KC HRW futures were 12 to 13 cents lower to kick off the week. MPLS spring wheat saw weakness of 10 to 11 cents.

The next week is expected to be drier for the most part, with the Plains seeing little precip. Areas in the SRW country see better odds for precipitation.

Individual state crop reports are being released, with the national Crop Progress report starting in a weekly basis in April. Kansas will be out starting next week, with Texas ratings at 37% gd/ex, up 4% from last week, with the Brugler500 rating up 4 to 304. Oklahoma ratings were down 6% from the end of January at 34%, as the Brugler500 index was down 10 to 307.

The weekly Export Inspections report showed a total of 375,546 MT (13.8 mbu) of wheat exported in the week that concluded on February 20. That was 50.14% above than the previous week but sti... 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
CBOT
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 Feb 18, 2025

View Chart Details
Commercials - Long / Short
124,722 (+1,081)
120,894 (+9,602)
Non-Commercials - Long / Short
58,070 (-5,242)
60,119 (-13,223)
Producers - Long / Short
37,491 (-836)
106,476 (+4,995)
Swap Dealers - Long / Short
78,272 (-1,789)
5,459 (+901)
Managed Money - Long / Short
32,947 (-6,640)
56,287 (-13,018)
Other Reportables - Long / Short
25,123 (+1,398)
3,832 (-205)
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
Period Open: 863-4
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
Period Open: 896-6
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
Period Open: 1236-2
1326-2 -32.76%
on 05/17/22
-344-4 (-27.87%)
since 05/12/22

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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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