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Spring Wheat Dec '23 (MWZ23)

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Spring 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
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
11/30/23
Expiration Date
12/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Dec 17, 2024

View Chart Details
Commercials - Long / Short
45,502 (+1,012)
22,252 (+2,687)
Non-Commercials - Long / Short
17,522 (+1,925)
40,669 (-789)
Producers - Long / Short
42,255 (+1,151)
22,037 (+2,681)
Swap Dealers - Long / Short
3,032 (-145)
0 (unch)
Managed Money - Long / Short
11,762 (+2,138)
38,779 (-1,907)
Other Reportables - Long / Short
5,760 (-213)
1,890 (+1,118)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
682-4 +2.60%
on 11/27/23
738-6 -5.21%
on 11/15/23
-34-2 (-4.66%)
since 11/14/23
3-Month
682-4 +2.60%
on 11/27/23
791-0 -11.47%
on 09/15/23
-83-2 (-10.63%)
since 09/14/23
52-Week
682-4 +2.60%
on 11/27/23
956-0 -26.75%
on 07/25/23
-198-2 (-22.06%)
since 12/14/22

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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 700-2
2nd Resistance Point 700-2
1st Resistance Point 700-2
Last Price 700-2s
1st Support Level 700-2
2nd Support Level 700-2
3rd Support Level 700-2

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52-Week High 956-0
Fibonacci 61.8% 851-4
Fibonacci 50% 819-2
Fibonacci 38.2% 787-0
Last Price 700-2s
52-Week Low 682-4

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