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Hard Red Wheat Jul '23 (KEN23)

809-2s +2-0 (+0.25%) 07/14/23 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Fri, Jul 14th, 2023
Day Low
809-2
Day High
809-2
Open 0-0
Previous Close 807-2 807-2
Volume 16 16
Open Interest 0 0
Stochastic %K 16.26% 16.26%
Weighted Alpha -6.67 -6.67
5-Day Change -8-2 (-1.01%) -8-2 (-1.01%)
52-Week Range 736-2 - 1007-0 736-2 - 1007-0
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Hard Red Wheat Futures Market News and Commentary

Wheat Rallies on Friday

The wheat complex was rallying on Friday, with the three exchanges higher on the session. Chicago SRW futures were back up 16 to 18 cents in the front months, with the front month May rallying 26 ¾ cents. Kansas City HRW contracts were 10 to 11 cents higher on the session, as May climbed 10 ½ cents from last Friday. MPLS spring wheat was up 12 to 13 cents across the front months at the close, with nearby May up 30 ½ cents. The US dollar index collapsed again on Friday, closing below $100.

The weekly CFTC Commitment of Traders report showed managed money cutting 9,908 contracts from their net short to 102,132 contracts by April 8. In KC wheat, they added 4,159 contracts to their net short at 49,834 contracts.

USDA Export Sales data from Thursday showed all wheat export business at 21.55 MMT. That is now 96.55% of the new USDA export projection, with the 5-year average sales pace at 102%. Export shipments are 17.3 MMT, which is 77.5% of USDA’s new number lagging the 5-year... Read more

Contract Specifications

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Contract
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
CBOT
Point Value
$50
Margin/Maintenance
$2,090/1,900
First Notice Date
06/30/23
Expiration Date
07/14/23 (expired)

Seasonal Chart

Hard Red Wheat Jul '23
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Apr 8, 2025

View Chart Details
Commercials - Long / Short
127,782 (-7,155)
85,533 (-12,396)
Non-Commercials - Long / Short
60,702 (+123)
100,886 (+5,425)
Producers - Long / Short
40,781 (-2,908)
72,592 (-8,122)
Swap Dealers - Long / Short
80,788 (-226)
6,728 (-253)
Managed Money - Long / Short
40,038 (-319)
86,404 (+4,086)
Other Reportables - Long / Short
20,664 (+442)
14,482 (+1,339)
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Price Performance

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Period Period Low Period High Performance
1-Month
784-0 +3.22%
on 06/15/23
Period Open: 785-6
891-2 -9.20%
on 06/22/23
+23-4 (+2.99%)
since 06/14/23
3-Month
736-2 +9.92%
on 05/02/23
Period Open: 863-2
918-6 -11.92%
on 05/17/23
-54-0 (-6.26%)
since 04/14/23
52-Week
736-2 +9.92%
on 05/02/23
Period Open: 845-6
1007-0 -19.64%
on 10/10/22
-36-4 (-4.32%)
since 07/14/22

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 809-2
2nd Resistance Point 809-2
1st Resistance Point 809-2
Last Price 809-2s
1st Support Level 809-2
2nd Support Level 809-2
3rd Support Level 809-2

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52-Week High 1007-0
Fibonacci 61.8% 903-5
Fibonacci 50% 871-5
Fibonacci 38.2% 839-5
Last Price 809-2s
52-Week Low 736-2

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