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Spring Wheat Jul '24 (MWN24)

621-0s unch (unch) 07/12/24 [MIAX]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Fri, Jul 12th, 2024
Day Low
621-0
Day High
621-0
Open 0-0
Previous Close 621-0 621-0
Volume 0 0
Open Interest 0 0
Stochastic %K 70.78% 70.78%
Weighted Alpha -27.41 -27.41
5-Day Change unch (unch) unch (unch)
52-Week Range 594-0 - 919-0 594-0 - 919-0
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Spring Wheat Futures Market News and Commentary

Wheat Holds Losses into Friday’s Close

The wheat complex closed Friday with contracts down across the three markets. Chicago SRW futures were down 7 to 8 cents on the day, as May closed the week up ¾ cent. Kansas City HRW contracts were 10 to 12 cents lower on the session, with May showing a 5 ¾ cent gain this week. MPLS spring wheat was 6 to 8 cents in the red, as May ended the week with a 3 ½ cent jump.  

The Friday afternoon Commitment of Traders data from CFTC showed speculators in Chicago wheat adding 19,453 contracts to their net short as of Tuesday to 112,040 contracts. In KC, they were adding 225 contracts to that net short to 45,675 contracts by April 1.

Thursday’s USDA Export Sales report shows the wheat export commitments for the 2024/25 marketing year at 21.433 MMT, which is 14% above last year. That is 94% of the USDA forecast, behind the 101% average sales pace.

May 25 CBOT Wheat  closed at $5.29, down 7 cents,

Jul 25 CBOT Wheat  closed at $5.42 3/4, down 7 1/4 cents,

May 25 KC... 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
06/28/24
Expiration Date
07/12/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Apr 1, 2025

View Chart Details
Commercials - Long / Short
49,984 (+1,983)
26,741 (-1,594)
Non-Commercials - Long / Short
18,550 (+771)
42,914 (+5,748)
Producers - Long / Short
44,810 (+1,290)
24,436 (-3,279)
Swap Dealers - Long / Short
4,790 (+321)
1,921 (+1,313)
Managed Money - Long / Short
13,182 (+1,105)
41,862 (+6,066)
Other Reportables - Long / Short
5,368 (-334)
1,052 (-318)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
594-0 +4.55%
on 06/26/24
Period Open: 668-2
675-6 -8.10%
on 06/13/24
-47-2 (-7.07%)
since 06/12/24
3-Month
594-0 +4.55%
on 06/26/24
Period Open: 650-0
767-6 -19.11%
on 05/28/24
-29-0 (-4.46%)
since 04/12/24
52-Week
594-0 +4.55%
on 06/26/24
Period Open: 839-0
919-0 -32.43%
on 07/25/23
-218-0 (-25.98%)
since 07/12/23

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Wheat Holds Losses into Friday’s Close

The wheat complex closed Friday with contracts down across the three markets. Chicago SRW futures were down 7 to 8 cents on the day, as May closed the week up ¾ cent. Kansas City HRW contracts were 10...

KEN25 : 570-0s (-1.85%)
MWK25 : 584-4s (-1.14%)
KEK25 : 557-4s (-2.02%)
ZWK25 : 529-0s (-1.31%)
ZWN25 : 542-6s (-1.32%)
Soybeans Continue Losses on Tariff Escalation

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ZSK25 : 977-0s (-3.41%)
ZSX25 : 984-2s (-3.22%)
ZSN25 : 993-0s (-3.24%)
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The corn market closed out the Friday session with contracts up 1 to 3 cents across the front months. May was up 7 cents this week despite all the tariff talk. New crop December was weighed down by bean...

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ZSPX25US.CM : 9.2165 (-3.38%)
ZLK25 : 45.84s (-2.59%)
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ZSK25 : 977-0s (-3.41%)
ZSX25 : 984-2s (-3.22%)
ZSN25 : 993-0s (-3.24%)
Corn Bulls Fighting Back on Friday

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Wheat Weaker to Start Friday

The wheat complex is showing early losses across the front months on Friday. Futures closed mixed across the three exchanges on Thursday. Chicago SRW futures were down 2 to 4 cents to close out the day....

KEN25 : 570-0s (-1.85%)
MWK25 : 584-4s (-1.14%)
KEK25 : 557-4s (-2.02%)
ZWK25 : 529-0s (-1.31%)
ZWN25 : 542-6s (-1.32%)
Corn Leaking Lower on Risk Off Ahead of Weekend

Corn futures are trading with early 5 to 7 cent losses on Friday morning in sympathy with the bean market and a risk off approach heading into the weekend. Bulls pushed back on Thursday, coming off overnight...

ZCZ25 : 446-6s (-0.17%)
ZCPAUS.CM : 4.3086 (+0.85%)
ZCPZ25US.CM : 4.1232 (-0.10%)
ZCK25 : 460-2s (+0.60%)
ZCN25 : 467-2s (+0.38%)
Soybeans Collapsing on Tariff Response

Soybeans are posting another round of sharp losses on Friday morning, with contracts down 22 to 25 cents following an overnight Chinese response. They closed the Thursday session with losses of 18 to 20...

ZSPX25US.CM : 9.2165 (-3.38%)
ZLK25 : 45.84s (-2.59%)
ZMK25 : 283.1s (-1.70%)
ZSPAUS.CM : 9.2102 (-3.58%)
ZSK25 : 977-0s (-3.41%)
ZSX25 : 984-2s (-3.22%)
ZSN25 : 993-0s (-3.24%)
Wheat Closes Mixed on Thursday

Wheat futures took back most of the overnight weakness, with contracts closing mixed across the three exchanges. Chicago SRW futures were down 2 to 4 cents to close out the day. Kansas City HRW contracts...

KEN25 : 570-0s (-1.85%)
MWK25 : 584-4s (-1.14%)
KEK25 : 557-4s (-2.02%)
ZWK25 : 529-0s (-1.31%)
ZWN25 : 542-6s (-1.32%)
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ZCZ25 : 446-6s (-0.17%)
ZCPAUS.CM : 4.3086 (+0.85%)
ZCPZ25US.CM : 4.1232 (-0.10%)
ZCK25 : 460-2s (+0.60%)
ZCN25 : 467-2s (+0.38%)
Soybeans Close with Losses on Tariff Risks

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ZSPX25US.CM : 9.2165 (-3.38%)
ZLK25 : 45.84s (-2.59%)
ZMK25 : 283.1s (-1.70%)
ZSPAUS.CM : 9.2102 (-3.58%)
ZSK25 : 977-0s (-3.41%)
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ZSN25 : 993-0s (-3.24%)
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Grain markets opened lower but found their footing to finish the session off the lows, with corn and wheat spending some time in positive territory.

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 621-0
2nd Resistance Point 621-0
1st Resistance Point 621-0
Last Price 621-0s
1st Support Level 621-0
2nd Support Level 621-0
3rd Support Level 621-0

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52-Week High 919-0
Fibonacci 61.8% 794-7
Fibonacci 50% 756-4
Fibonacci 38.2% 718-1
Last Price 621-0s
52-Week Low 594-0

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