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Spring Wheat Sep '24 (MWU24)

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Spring Wheat Futures Market News and Commentary

Wheat Bulls Slip Up Amid Dollar Strength

The wheat complex was pressured lower on Thursday, with the US dollar index hitting a 1 year high, up 414 points. Chicago SRW futures were down 1 ½ to 3 3/4 cents across the board at the close. KC HRW contracts closed with losses of 5 to 6 1/4 cents. MPLS spring wheat was down 4 to 6 cents on the Thursday session.

Export Sales data released this morning showed all wheat sales totaling 549,601 MT in the week that ended on November 14. That was on the high end of the 275,000 and 600,000 MT estimates and up 9.42% from the week prior.  The largest buyer on the week was South Korea at 200,100 MT, with Mexico 91,000 MT.

Taiwan purchased 80,000 MT of US wheat in their tender overnight. 

International Grains Council data released this morning showed wheat production for the world estimated down 2 MMT to 796 MMT. Consumption was up 1 MMT, with stocks down 3 MMT for the world at 263 MMT.

Dec 24 CBOT Wheat  closed at $5.48 3/4, down 3 3/4 cents,

Mar 25 CBOT Wheat ... 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
08/30/24
Expiration Date
09/13/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Nov 12, 2024

View Chart Details
Commercials - Long / Short
38,541 (+538)
18,028 (-3,570)
Non-Commercials - Long / Short
13,852 (+953)
33,934 (+5,120)
Producers - Long / Short
34,401 (+135)
17,032 (-4,147)
Swap Dealers - Long / Short
3,711 (+66)
567 (+240)
Managed Money - Long / Short
9,243 (+39)
31,667 (+5,355)
Other Reportables - Long / Short
4,609 (+914)
2,267 (-235)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
537-4 +13.12%
on 08/26/24
608-0 unch
on 09/13/24
+15-0 (+2.53%)
since 08/13/24
3-Month
537-4 +13.12%
on 08/26/24
676-6 -10.16%
on 06/14/24
-68-6 (-10.16%)
since 06/13/24
52-Week
537-4 +13.12%
on 08/26/24
808-2 -24.78%
on 09/15/23
-200-2 (-24.78%)
since 09/13/23

More Spring Wheat Quotes

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Most Recent Stories

More News
Wheat Back to Slightly Higher Friday Morning Trade

Wheat futures are showing gains on Friday morning. The wheat complex was pressured lower on Thursday, with the US dollar index hitting a 1 year high, up 414 points. Chicago SRW futures were down 1 ½ to...

KEH25 : 563-6 (-0.62%)
MWZ24 : 588-0 (unch)
KEZ24 : 553-0 (-0.45%)
ZWZ24 : 544-0 (-0.87%)
ZWH25 : 564-2 (-0.92%)
Corn Bulls Bouncing to Start Friday

The corn market is kicking off the prelude to the weekend with gains of 2 to 3 cents so far. Corn posted Thursday losses at the close, with contracts down 3 ½ to 4 ½ cents across the board. Pressure...

ZCPAUS.CM : 4.0364 (-0.01%)
ZCZ24 : 427-0 (+0.06%)
ZCZ24 : 427-0 (+0.06%)
ZCH25 : 436-4 (+0.06%)
Soybeans Finding Some Gains to Begin Friday Trade

Soybeans are trading with a slight bounce back attitude to kick off Friday, as contracts are up 3 to 4 cents in the nearbys. They failed to get much upside reaction to either the export business or better...

ZLF25 : 41.65 (-1.49%)
ZMF25 : 290.0 (+0.21%)
ZSPAUS.CM : 9.2934 (+0.24%)
ZSF25 : 980-0 (+0.23%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 988-4 (+0.33%)
Did More Missiles Move Morning Markets?

Overnight through early Friday morning saw headlines of Russia firing missiles back at Ukraine. Naturally, some of the Missile Markets responded.

$DXY : 107.65 (+0.58%)
ZCH25 : 436-4 (+0.06%)
ZWH25 : 564-2 (-0.92%)
MWH25 : 601-0 (-0.21%)
GCG25 : 2,732.5 (+1.23%)
ZSF25 : 980-0 (+0.23%)
Corn and Coffee continue to have their highest carry yield for the past 52 weeks. Soybean Meal is now at its lowest level

Despite the high carry yield, front month Corn has yet to break through the declining trendline. Coffee, on the other hand, has broken through the upper channel and is aggressively breaking out.

Corn Analysis, 471.00 Target.

Educational and Actionable information using Fibonacci and W.D. Gann analysis.

ZCH25 : 436-4 (+0.06%)
ZCZ24 : 427-0 (+0.06%)
Soybeans Post Double Digit Losses on Thursday Facing Product Pressure

Soybeans failed to get much upside reaction to either the export business or better than expected Export Sales report from early on Thursday. Futures closed with losses of 7 ½ to 14 cents on the day....

ZLF25 : 41.65 (-1.49%)
ZMF25 : 290.0 (+0.21%)
ZSPAUS.CM : 9.2934 (+0.24%)
ZSF25 : 980-0 (+0.23%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 988-4 (+0.33%)
Wheat Bulls Slip Up Amid Dollar Strength

The wheat complex was pressured lower on Thursday, with the US dollar index hitting a 1 year high, up 414 points. Chicago SRW futures were down 1 ½ to 3 3/4 cents across the board at the close. KC HRW...

KEH25 : 563-6 (-0.62%)
MWZ24 : 588-0 (unch)
KEZ24 : 553-0 (-0.45%)
ZWZ24 : 544-0 (-0.87%)
ZWH25 : 564-2 (-0.92%)
Corn Closes with Weakness on Thursday

Corn posted Thursday losses at the close, with contracts down 3 ½ to 4 ½ cents across the board. Pressure mounted as the rest of the grains were lower and the US dollar index posted fresh 1 year highs....

ZCPAUS.CM : 4.0364 (-0.01%)
ZCZ24 : 427-0 (+0.06%)
ZCZ24 : 427-0 (+0.06%)
ZCH25 : 436-4 (+0.06%)
Recent Corn Rally Artificially Propped Up – What’s Next?

Corn prices appeared to have finally found a bottom from the summer sell-off. Speculators were short the market in record numbers until late August, when they began buying back contracts, convincing some...

ZCH25 : 436-4 (+0.06%)
CORN : 18.06 (-0.09%)
XNH25 : 436-7 (+0.14%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 608-0
2nd Resistance Point 608-0
1st Resistance Point 608-0
Last Price 608-0s
1st Support Level 608-0
2nd Support Level 608-0
3rd Support Level 608-0

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52-Week High 808-2
Fibonacci 61.8% 704-7
Fibonacci 50% 672-7
Fibonacci 38.2% 640-7
Last Price 608-0s
52-Week Low 537-4

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