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Spring Wheat Mar '24 (MWH24)

658-4s -28-0 (-4.08%) 03/14/24 [MIAX]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Thu, Mar 14th, 2024
Day Low
658-4
Day High
658-4
Open 0-0
Previous Close 686-4 686-4
Volume 0 0
Open Interest 0 0
Stochastic %K 70.47% 70.47%
Weighted Alpha -24.83 -24.83
5-Day Change +1-0 (+0.15%) +1-0 (+0.15%)
52-Week Range 636-2 - 958-0 636-2 - 958-0
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Spring Wheat Futures Market News and Commentary

Wheat Closes the Week with Mixed Action

The wheat market closed Friday mixed across the three exchanges, as the winter wheats were the strongest. Chicago SRW futures were up 3 to 5 cents to close the day, as March was still down a dime on the week. KC HRW futures were 1 to 2 cents higher as well on the session, with March slipping 12 cents since last Friday. MPLS spring wheat was 1 to 2 cents in the red, with March losing just 1 ¾ cents on the week. March options expired today.

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. That was down 6.48% from the week prior, but still 128.11% larger than the same week in 2024. Mexico was the buyer of 147,300 MT,... Read more

Contract Specifications

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Contract
Hard Red Spring 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. - 1:30p.m. (Sun-Fri) (Settles 1:30p.m.) CST
Exchange
MIAX
Point Value
$50
Margin/Maintenance
$1,870/1,700
First Notice Date
02/29/24
Expiration Date
03/14/24 (expired)

Seasonal Chart

Spring Wheat Mar '24
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Feb 18, 2025

View Chart Details
Commercials - Long / Short
44,470 (-1,270)
39,313 (+1,862)
Non-Commercials - Long / Short
18,196 (-295)
23,349 (-4,235)
Producers - Long / Short
40,240 (-1,526)
38,597 (+2,076)
Swap Dealers - Long / Short
3,980 (+75)
466 (-395)
Managed Money - Long / Short
11,922 (-854)
19,765 (-3,923)
Other Reportables - Long / Short
6,274 (+559)
3,584 (-312)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
636-2 +3.50%
on 02/26/24
Period Open: 662-4
686-4 -4.08%
on 03/13/24
-4-0 (-0.60%)
since 02/14/24
3-Month
636-2 +3.50%
on 02/26/24
Period Open: 717-2
731-6 -10.01%
on 12/26/23
-58-6 (-8.19%)
since 12/14/23
52-Week
636-2 +3.50%
on 02/26/24
Period Open: 848-4
958-0 -31.26%
on 07/25/23
-190-0 (-22.39%)
since 03/14/23

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Pure Hedge - Livestock and Grain

Will Everything Break Next Week?

Wheat Closes the Week with Mixed Action

The wheat market closed Friday mixed across the three exchanges, as the winter wheats were the strongest. Chicago SRW futures were up 3 to 5 cents to close the day, as March was still down a dime on the...

KEK25 : 621-6s (+0.28%)
MWH25 : 631-6s (-0.16%)
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ZWH25 : 590-0s (+0.77%)
ZWK25 : 604-0s (+0.62%)
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ZSX25 : 1059-6s (-0.14%)
ZSK25 : 1057-2s (-0.54%)
Corn Corrects Lower into the Weekend

The corn market was faced with pressure on Friday, as contracts wee down 4 to 8 cents across most months. March ended the week with a 5 cent loss. March options expired today, with traders going for a...

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ZCPAUS.CM : 4.5858 (-1.44%)
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ZCK25 : 505-0s (-1.51%)
Grain Spreads: Tail of the Dog

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Slaughter cuts not helping

Packers made their move to improve profit margins by cutting the slaughter pace in hopes of sustaining current box beef prices.  So far, it hasn't helped.

Wheat Popping Higher at Midday

The wheat market is trading firmer on Friday, with contracts in the green across the three exchanges. Chicago SRW futures are up 3 to 4 cents so far on the day. KC HRW futures are back up 3 to 4 cents...

KEK25 : 621-6s (+0.28%)
MWH25 : 631-6s (-0.16%)
KEH25 : 609-2s (+0.29%)
ZWH25 : 590-0s (+0.77%)
ZWK25 : 604-0s (+0.62%)
Corn Falling on Friday

Corn futures are posting midday losses on Friday, down 3 to 7 cents across most contracts as traders take some money off the table ahead of the weekend. March options expire today. The CmdtyView national...

ZCZ25 : 475-0s (-0.94%)
ZCPAUS.CM : 4.5858 (-1.44%)
ZCPZ25US.CM : 4.3967 (-1.01%)
ZCH25 : 491-2s (-1.36%)
ZCK25 : 505-0s (-1.51%)
Soybeans Pulling Back on Friday

Soybeans are fading into the weekend, with contracts down 3 to 8 cents so far at midday, led by the nearbys. The cmdtyView national front month Cash Bean price is 7 ½ cents lower at $9.78 3/4. Soymeal...

ZSPX25US.CM : 9.9657 (-0.12%)
ZLK25 : 47.34s (-0.94%)
ZMK25 : 303.9s (-0.23%)
ZSPAUS.CM : 9.8068 (-0.46%)
ZSH25 : 1039-4s (-0.57%)
ZSX25 : 1059-6s (-0.14%)
ZSK25 : 1057-2s (-0.54%)
Where are Wheat Prices Heading in the 2025 Crop Year?

Wheat prices are heading into the 2025 crop year at much lower levels than in 2022 and 2023. Wheat prices reached lows in August 2024, and while they are consolidating near the low, the recent trend has...

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Traders Gear Up for Another Cattle on Feed Report

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A Traders Paradise

Grain markets have seen a choppy trade which has presented some great opportunities for shorter term traders. These are the levels we are watching into the weekend.

Soybeans Lower to Begin Friday Trade

The soybean market is trading with early Friday losses of 1 to 2 cents. Futures were stronger on Thursday, with gains of 10 to 15 cents at the close. The cmdtyView national front month Cash Bean price...

ZSPX25US.CM : 9.9657 (-0.12%)
ZLK25 : 47.34s (-0.94%)
ZMK25 : 303.9s (-0.23%)
ZSPAUS.CM : 9.8068 (-0.46%)
ZSH25 : 1039-4s (-0.57%)
ZSX25 : 1059-6s (-0.14%)
ZSK25 : 1057-2s (-0.54%)
Corn Slipping Lower Ahead of Export Sales Release

Corn is trading with fractional to 1 ½ cent losses so far on Friday morning. The corn market posted fractional gains in the front months on Thursday, as new crop December was 3 cents higher at the close....

ZCZ25 : 475-0s (-0.94%)
ZCPAUS.CM : 4.5858 (-1.44%)
ZCPZ25US.CM : 4.3967 (-1.01%)
ZCH25 : 491-2s (-1.36%)
ZCK25 : 505-0s (-1.51%)
Wheat Bulls Pushing Back Early on Friday

The wheat complex is trading higher ahead of Friday’s Export Sales report, with contracts trading in the green across the three exchanges. Wheat had another round of weaker trade on Thursday. Chicago...

KEK25 : 621-6s (+0.28%)
MWH25 : 631-6s (-0.16%)
KEH25 : 609-2s (+0.29%)
ZWH25 : 590-0s (+0.77%)
ZWK25 : 604-0s (+0.62%)
Wheat Extends Pullback on Thursday

Wheat had another round of weaker trade on Thursday. Chicago SRW futures were down 6 to 7 cents on the session. KC HRW futures fell another 6 to 7 cents into the close. MPLS spring wheat saw fractional...

KEK25 : 621-6s (+0.28%)
MWH25 : 631-6s (-0.16%)
KEH25 : 609-2s (+0.29%)
ZWH25 : 590-0s (+0.77%)
ZWK25 : 604-0s (+0.62%)
Corn Holds Gains on Thursday

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ZCZ25 : 475-0s (-0.94%)
ZCPAUS.CM : 4.5858 (-1.44%)
ZCPZ25US.CM : 4.3967 (-1.01%)
ZCH25 : 491-2s (-1.36%)
ZCK25 : 505-0s (-1.51%)
Soybeans Rallies Back on Thursday

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ZSPX25US.CM : 9.9657 (-0.12%)
ZLK25 : 47.34s (-0.94%)
ZMK25 : 303.9s (-0.23%)
ZSPAUS.CM : 9.8068 (-0.46%)
ZSH25 : 1039-4s (-0.57%)
ZSX25 : 1059-6s (-0.14%)
ZSK25 : 1057-2s (-0.54%)
Poor results from cutting slaughter pace

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 658-4
2nd Resistance Point 658-4
1st Resistance Point 658-4
Last Price 658-4s
1st Support Level 658-4
2nd Support Level 658-4
3rd Support Level 658-4

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52-Week High 958-0
Fibonacci 61.8% 835-1
Fibonacci 50% 797-1
Fibonacci 38.2% 759-1
Last Price 658-4s
52-Week Low 636-2

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