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Wheat Cash (ZWY00)

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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. 

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Price Performance

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Period Period Low Period High Performance
1-Month
493-6 +12.76%
on 10/28/24
588-2 -5.35%
on 11/06/24
+45-6 (+8.95%)
since 10/22/24
3-Month
460-4 +20.90%
on 09/19/24
588-2 -5.35%
on 11/06/24
+83-2 (+17.58%)
since 08/22/24
52-Week
460-4 +20.90%
on 09/19/24
690-2 -19.34%
on 05/28/24
-14-0 (-2.45%)
since 11/22/23

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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 Weak Signal Strength.

Key Turning Points

3rd Resistance Point 556-6
2nd Resistance Point 556-6
1st Resistance Point 556-6
Last Price 556-6s
1st Support Level 556-6
2nd Support Level 556-6
3rd Support Level 556-6

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52-Week High 690-2
Fibonacci 61.8% 602-4
Fibonacci 50% 575-3
Last Price 556-6s
Fibonacci 38.2% 548-2
52-Week Low 460-4

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