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Wheat Jul '23 (ZWN23)

641-4s +14-0 (+2.23%) 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
641-4
Day High
641-4
Open 0-0
Previous Close 627-4 627-4
Volume 52 52
Open Interest 21 21
Stochastic %K 14.99% 14.99%
Weighted Alpha -23.67 -23.67
5-Day Change +2-0 (+0.31%) +2-0 (+0.31%)
52-Week Range 573-2 - 949-4 573-2 - 949-4
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Wheat Futures Market News and Commentary

Wheat Leaking Lower as USDA Boosts US Carryout

The wheat complex is falling lower across the three exchanges on Thursday, as the USDA was a little more bearish on the wheat side of their data this morning. Chicago SRW futures are back down 3 to 5 cents in the front months at midday. Kansas City HRW contracts are 5 to 8 cents lower so far on the session. MPLS spring wheat is 6 to 8 cents in the red.

USDA released Export Sales data this morning, with 107,280 MT of wheat reported, in the middle of the trade estimates of between net reductions of 100,000 MT to net sales of 400,000 MT for old crop. New crop sales were tallied at 107,728 MT, vs. the estimates of between 0-200,000 MT. 

US wheat ending stocks were increased by 27 mbu this morning to 846 mbu. That was well above estimates and came as imports were up 10 mbu, exports trimmed by 15 mbu and seed trimmed by 2 mbu. World ending stocks were raised by 0.62 MMT to 260.70 MMT.

The EU commission raised their EU wheat production estimate by 0.6 MMT to 128.1 MMT. Read more

Contract Specifications

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Contract
Chicago Soft 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
$1,925/1,750
First Notice Date
06/30/23
Expiration Date
07/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Apr 1, 2025

View Chart Details
Commercials - Long / Short
182,312 (+12,222)
86,676 (-4,044)
Non-Commercials - Long / Short
119,598 (-2,165)
222,398 (+18,087)
Producers - Long / Short
83,201 (+12,870)
59,242 (-6,017)
Swap Dealers - Long / Short
78,989 (-1,228)
7,312 (+1,393)
Managed Money - Long / Short
79,588 (+3,629)
180,172 (+14,076)
Other Reportables - Long / Short
40,010 (-5,794)
42,226 (+4,011)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
614-2 +4.44%
on 07/13/23
Period Open: 630-2
756-6 -15.23%
on 06/26/23
+11-2 (+1.79%)
since 06/14/23
3-Month
573-2 +11.91%
on 05/31/23
Period Open: 692-4
756-6 -15.23%
on 06/26/23
-51-0 (-7.36%)
since 04/14/23
52-Week
573-2 +11.91%
on 05/31/23
Period Open: 825-4
949-4 -32.44%
on 10/10/22
-184-0 (-22.29%)
since 07/14/22

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Crop Production

Crop Production - 2025-04-10

MWK25 : 602-0s (-1.11%)
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Y2K25 : 2,662s (unch)
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WASDE - 2025-04-10

KGK25 : 0.6647 (-0.24%)
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MLK25 : 216.50s (-1.48%)
ZCN25 : 488-6s (+1.72%)
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ZWK25 : 538-0s (-0.78%)
ZWN25 : 552-6 (-0.54%)
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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 641-4
2nd Resistance Point 641-4
1st Resistance Point 641-4
Last Price 641-4s
1st Support Level 641-4
2nd Support Level 641-4
3rd Support Level 641-4

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52-Week High 949-4
Fibonacci 61.8% 805-6
Fibonacci 50% 761-3
Fibonacci 38.2% 717-0
Last Price 641-4s
52-Week Low 573-2

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