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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 Falling to Begin the Week

Wheat is facing sharp losses to kick off trade, as contracts are down 8 to 10 cents across the three markets. The wheat market settled the Friday session with mixed trade across the three exchanges, with the winter wheats the strongest. Chicago SRW futures were 3 to 5 cents higher to close the day, as March was still down a dime last week. KC HRW futures were up 1 to 2 cents on the session, with March slipping 12 cents from the week prior. MPLS spring wheat was 1 to 2 cents in the red, with March losing just 1 ¾ cents on the week. 

CFTC data from this afternoon indicated managed money continuing to cover shorts in the Chicago wheat during the week that ended on 2/18, reducing the net short by 21,232 contracts to 61,577 contracts. In KC wheat, they timed back 8,158 contracts from their net short to 22,090 contracts by Tuesday. 

The Friday morning Export Sales report totaled all wheat bookings at 532,674 MT during the week ending on 2/13. Export commitments are now 86% of... 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)
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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
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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