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Hard Red Wheat Sep '24 (KEU24)

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Hard Red Wheat Futures Market News and Commentary

Wheat Manages to Close Mixed on Friday

The wheat market went into the weekend on a mixed note, as the soft red contracts failed to push higher. Chicago SRW futures were steady to down 1 ½ cents across the board on the day, as March was down 19 ¼ cents this week. KC HRW contracts were fractionally to 2 cents higher to close the day, with March slipping 12 ¼ cents this week. MPLS spring wheat futures settled the Friday trade steady to 3 ¾ cents in the green, led by the front months, as March’s losses were limited to just 8 ¼ cents this week.

The next week looks for precip in the eastern portions of the Southern Plains, extending into some SRW regions. The 8-14 looks wetter for much of the country, with above normal temps and no threats of any winter kill potential. 

Commitment of Traders data showed spec funds in Chicago wheat adding onto their bearish position as of 12/17, by 20,622 contracts to a net short of 87,401 contracts. In KC wheat, they trimmed 3,369 contracts from their net short to 33,067 contracts... 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
KCBT
Point Value
$50
Margin/Maintenance
$2,090/1,900
First Notice Date
08/30/24
Expiration Date
09/13/24 (expired)

Seasonal Chart

Hard Red Wheat Sep '24
Average Price Chart for 5 Prior Sep 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
512-0 +12.99%
on 08/26/24
589-6 -1.91%
on 09/06/24
+30-6 (+5.61%)
since 08/13/24
3-Month
512-0 +12.99%
on 08/26/24
649-4 -10.93%
on 06/14/24
-69-0 (-10.66%)
since 06/13/24
52-Week
512-0 +12.99%
on 08/26/24
760-0 -23.88%
on 05/28/24
-158-0 (-21.45%)
since 09/13/23

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Wheat Manages to Close Mixed on Friday

The wheat market went into the weekend on a mixed note, as the soft red contracts failed to push higher. Chicago SRW futures were steady to down 1 ½ cents across the board on the day, as March was down...

KEK25 : 552-4s (+0.27%)
MWH25 : 590-2s (+0.60%)
KEH25 : 544-6s (+0.28%)
ZWH25 : 533-0s (unch)
ZWK25 : 542-6s (-0.14%)
Shootin' the Bull about lines in the sand

In my opinion, the line in the sand is definitive.  Bulls are more bullish and bears are more bearish.

Wheat Getting Pulled Higher at Midday

Wheat futures are trading with slight gains at Friday’s midday. Chicago SRW futures are up 11 to 2 cents in most contracts so far on the day. KC HRW contracts are 2 to 3 cents back higher at midday....

KEK25 : 552-4s (+0.27%)
MWH25 : 590-2s (+0.60%)
KEH25 : 544-6s (+0.28%)
ZWH25 : 533-0s (unch)
ZWK25 : 542-6s (-0.14%)
Soybeans Rallying Back Ahead of the Weekend

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ZMH25 : 302.2s (+3.85%)
ZSPAUS.CM : 9.2316 (+1.15%)
ZSF25 : 974-4s (+1.19%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 979-2s (+1.32%)
Corn Closing Back in on Fall Highs

Corn futures are getting a rally into the Pre-Christmas weekend, wth contracts up 5 to 6 cents in the front months. March is just over a nickel off the October high of $4.52 ¼. The national average Cash...

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ZCZ24 : 430-0s (-0.41%)
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Wheat Mixed on Friday Morning

Wheat futures are showing mixed trade on Friday morning, with contracts on either side of unch. The wheat complex failed to join in on the rest of the grain bounce on Thursday, heading to some fresh lows....

KEK25 : 552-4s (+0.27%)
MWH25 : 590-2s (+0.60%)
KEH25 : 544-6s (+0.28%)
ZWH25 : 533-0s (unch)
ZWK25 : 542-6s (-0.14%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Average Signal Strength.

Key Turning Points

3rd Resistance Point 578-4
2nd Resistance Point 578-4
1st Resistance Point 578-4
Last Price 578-4s
1st Support Level 578-4
2nd Support Level 578-4
3rd Support Level 578-4

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52-Week High 760-0
Fibonacci 61.8% 665-2
Fibonacci 50% 636-0
Fibonacci 38.2% 606-6
Last Price 578-4s
52-Week Low 512-0

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