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Spring Wheat Sep '23 (MWU23)

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Spring Wheat Futures Market News and Commentary

Wheat Gives into Week-End Pressure

The wheat complex closed with losses across the board on Friday. Chicago SRW futures were down 3 1/4 to 4 3/4 cents across the board on the day, with December still up 7 ¾ cents on the week. KC HRW contracts posted 1 ¼ to 2 ½ cent losses across most contracts on Friday, with December 14 ¼ cents higher on the week. MPLS spring wheat was down fractionally to 2 1/4 cents on the Friday session, with Dec up 13 ¾ cents for the week. December wheat options expired today, with first notice day next Friday. The US dollar index is extended its strength to 2-year highs to add some pressure.

CFTC’s Commitment of Traders report tallied managed money in Chicago wheat at a net short 51,546 contracts, an increase of 6,239 contracts on the week. In KC, the were net shoer 29,375 contracts, a 4,277 jump since the previous Tuesday. For MGE spring wheat, they were near a record net short, at 30,002 contracts, an additional 7,578 contracts from the week prior. 

Export Sales data released on T... 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
$2,090/1,900
First Notice Date
08/31/23
Expiration Date
09/14/23 (expired)

Seasonal Chart

Spring Wheat Sep '23
Average Price Chart for 5 Prior Sep Contracts

Commitment of Traders Positions as of Nov 19, 2024

View Chart Details
Commercials - Long / Short
44,905 (+6,364)
18,500 (+472)
Non-Commercials - Long / Short
14,087 (+235)
40,369 (+6,435)
Producers - Long / Short
40,276 (+5,875)
17,491 (+459)
Swap Dealers - Long / Short
4,082 (+371)
462 (-105)
Managed Money - Long / Short
8,511 (-732)
38,513 (+6,846)
Other Reportables - Long / Short
5,576 (+967)
1,856 (-411)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
732-4 +2.76%
on 09/05/23
805-2 -6.52%
on 08/15/23
-52-6 (-6.55%)
since 08/14/23
3-Month
732-4 +2.76%
on 09/05/23
947-6 -20.58%
on 07/25/23
-55-0 (-6.81%)
since 06/14/23
52-Week
732-4 +2.76%
on 09/05/23
981-0 -23.27%
on 10/10/22
-168-2 (-18.27%)
since 09/14/22

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Wheat Gives into Week-End Pressure

The wheat complex closed with losses across the board on Friday. Chicago SRW futures were down 3 1/4 to 4 3/4 cents across the board on the day, with December still up 7 ¾ cents on the week. KC HRW contracts...

KEH25 : 565-4s (-0.31%)
MWZ24 : 586-0s (-0.34%)
KEZ24 : 554-2s (-0.23%)
ZWZ24 : 544-2s (-0.82%)
ZWH25 : 564-6s (-0.83%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Soft Signal Strength.

Key Turning Points

3rd Resistance Point 753-1
2nd Resistance Point 753-1
1st Resistance Point 752-7
Last Price 752-6s
1st Support Level 752-5
2nd Support Level 752-5
3rd Support Level 752-3

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52-Week High 981-0
Fibonacci 61.8% 886-1
Fibonacci 50% 856-6
Fibonacci 38.2% 827-3
Last Price 752-6s
52-Week Low 732-4

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