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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 Falls as USDA Raises Stocks Estimate

The wheat complex gave into the bears on Thursday, falling lower across the three exchanges, as the USDA was a little more bearish this morning. Chicago SRW futures were back down 2 to 5 cents in the front months. Kansas City HRW contracts were 7 to 10 cents lower on the session. MPLS spring wheat was 5 to 7 cents in the red at the close.

USDA released Export Sales data this morning, with 107,280 MT of wheat reported. That was back down from the previous week, but was still the second largest out of the last 4 weeks. Unknown was the buyer of 92,800 MT, with 40,000 MT sold to Nigeria. New crop sales were tallied at 107,728 MT, the second largest for the marketing year so far. Japan was the buyer of 64,200 MT, with 22,500 MT sold to Mexico.

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... 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 1, 2025

View Chart Details
Commercials - Long / Short
134,937 (+4,058)
97,929 (+2,590)
Non-Commercials - Long / Short
60,579 (+8,306)
95,461 (+10,324)
Producers - Long / Short
43,689 (+2,338)
80,714 (-1,537)
Swap Dealers - Long / Short
81,014 (-784)
6,981 (+1,623)
Managed Money - Long / Short
40,357 (+10,296)
82,318 (+7,716)
Other Reportables - Long / Short
20,222 (-1,990)
13,143 (+2,608)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

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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Most Recent Stories

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

ZCK25 : 485-2 (+0.47%)
Wheat Falls as USDA Raises Stocks Estimate

The wheat complex gave into the bears on Thursday, falling lower across the three exchanges, as the USDA was a little more bearish this morning. Chicago SRW futures were back down 2 to 5 cents in the front...

KEN25 : 580-2 (+1.27%)
MWK25 : 608-6 (+1.12%)
KEK25 : 565-2 (+1.30%)
ZWK25 : 547-4 (+1.77%)
ZWN25 : 562-2 (+1.58%)
Corn Rallies As USDA Cuts Stock Estimate

Corn futures continued to rally on Thursday post-USDA data released, with front months leading the way with 7 to 9 cent gains. New crop was up 3 to 4 cents. The front month CmdtyView national average Cash...

ZCZ25 : 454-4 (+0.06%)
ZCPAUS.CM : 4.5469 (+2.05%)
ZCPZ25US.CM : 4.2044 (+0.91%)
ZCK25 : 485-2 (+0.47%)
ZCN25 : 490-4 (+0.36%)
Soybeans Extend Rebound on Thursday

The soybean market posted Thursday gains of 7 to 17 cents across most contracts at the close, following the USDA data release. CmdtyView’s national front month Cash Bean price was up 17 cents at $9.76...

ZSPX25US.CM : 9.4209 (+0.84%)
ZLN25 : 47.14 (+0.90%)
ZMN25 : 303.5 (-0.23%)
ZSPAUS.CM : 9.7571 (+1.76%)
ZSK25 : 1030-6 (+0.17%)
ZSX25 : 1009-6 (+0.50%)
ZSN25 : 1038-4 (+0.17%)
Shootin' the Bull about Feed Yards

Finally, feed yards and cattle feeders may be taking matters into their own hands.  Lower bids are surfacing at sale barns.  This will help, but if some rumors of feed yards cutting a percentage of capacity...

Grain Markets Rally Post WASDE, While Cattle Retreat with Outside Markets

Grain markets were mostly higher in Thursday’s trade following a fairly friendly report, for corn in particular. Cattle futures continued to struggle in the midst of a risk off trade in the outside markets...

Soybeans Extending Gains on Thursday

Soybeans are holding onto the Thursday gains, as contracts are up 6 to 12 cents so far at midday. CmdtyView’s national front month Cash Bean price is up 11 cents at $9.70 3/4. Soymeal futures are up...

ZSPX25US.CM : 9.4209 (+0.84%)
ZLN25 : 47.14 (+0.90%)
ZMN25 : 303.5 (-0.23%)
ZSPAUS.CM : 9.7571 (+1.76%)
ZSK25 : 1030-6 (+0.17%)
ZSX25 : 1009-6 (+0.50%)
ZSN25 : 1038-4 (+0.17%)
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...

KEN25 : 580-2 (+1.27%)
MWK25 : 608-6 (+1.12%)
KEK25 : 565-2 (+1.30%)
ZWK25 : 547-4 (+1.77%)
ZWN25 : 562-2 (+1.58%)
Corn Rallying on Large Cut to US Stocks

Corn futures are continuing rally on Thursday, as contracts are getting some support from a reduction to the US carryout number. Futures are up 2 to 6 cents at midday. The front month CmdtyView national...

ZCZ25 : 454-4 (+0.06%)
ZCPAUS.CM : 4.5469 (+2.05%)
ZCPZ25US.CM : 4.2044 (+0.91%)
ZCK25 : 485-2 (+0.47%)
ZCN25 : 490-4 (+0.36%)
Grains Firm Ahead if WASDE Report

Grain markets firmed yesterday afternoon and saw follow-through momentum overnight as traders await new news from the USDA.

Crop Production

Crop Production - 2025-04-10

MWK25 : 608-6 (+1.12%)
ZSK25 : 1030-6 (+0.17%)
XBM25 : 206.50 (-0.72%)
XEU25 : 72.44 (+0.33%)
SWQ25 : 507.20 (+0.44%)
ZSBAUS.CM : -0.5329 (+1.22%)
ZOK25 : 340-6 (+0.37%)
ZRK25 : 13.270 (+0.19%)
MLU25 : 211.75 (-0.59%)
Y2K25 : 2,662s (unch)
ZCN25 : 490-4 (+0.36%)
ZCDAUS-BIW.CM : 15,671,136 (unch)
WASDE

WASDE - 2025-04-10

KGK25 : 0.6647s (-0.24%)
ZSK25 : 1030-6 (+0.17%)
KIK25 : 310.50 (-1.11%)
XBM25 : 206.50 (-0.72%)
KOM25 : 4,192 (-0.19%)
SWQ25 : 507.20 (+0.44%)
ZSBAUS.CM : -0.5329 (+1.22%)
ZOK25 : 340-6 (+0.37%)
BJK25 : 1.7590s (unch)
ZMN25 : 303.5 (-0.23%)
MLU25 : 211.75 (-0.59%)
ZCN25 : 490-4 (+0.36%)
Wheat Pushing Higher on Thursday Morning

Wheat is showing gains across the three markets early on Thursday. The wheat complex popped from mixed midday action to close with Wednesday gains across the three exchanges. Chicago SRW futures turned...

KEN25 : 580-2 (+1.27%)
MWK25 : 608-6 (+1.12%)
KEK25 : 565-2 (+1.30%)
ZWK25 : 547-4 (+1.77%)
ZWN25 : 562-2 (+1.58%)
Corn Pushing Higher Ahead of USDA Data

The corn market is showing 3 to 5 cent gains early on Thursday morning. Futures got a late session pop higher on Wednesday, following an announcement on tariff relief by President Trump. Contracts were...

ZCZ25 : 454-4 (+0.06%)
ZCPAUS.CM : 4.5469 (+2.05%)
ZCPZ25US.CM : 4.2044 (+0.91%)
ZCK25 : 485-2 (+0.47%)
ZCN25 : 490-4 (+0.36%)
Soybeans Rally Extending Ahead of USDA Data Release

Soybeans are trading with Thursday morning gains of 7 to 9 cents so far. The soybean market got a late session rally on Wednesday to close the day with 19 to 21 point gains. Preliminary open interest was...

ZSPX25US.CM : 9.4209 (+0.84%)
ZLN25 : 47.14 (+0.90%)
ZMN25 : 303.5 (-0.23%)
ZSPAUS.CM : 9.7571 (+1.76%)
ZSK25 : 1030-6 (+0.17%)
ZSX25 : 1009-6 (+0.50%)
ZSN25 : 1038-4 (+0.17%)
Pure Hedge - Livestock and Grain

WOW, Everything Exploded Higher After 90 Day Tariff Pause

Soybeans Rally into the Close as Most Tariffs Paused

The soybean market got a late session rally on Wednesday to close the day with 19 to 21 point gains. CmdtyView’s national front month Cash Bean price was up 20 3/4 cents at $9.59 3/4. Soymeal futures...

ZSPX25US.CM : 9.4209 (+0.84%)
ZLN25 : 47.14 (+0.90%)
ZMN25 : 303.5 (-0.23%)
ZSPAUS.CM : 9.7571 (+1.76%)
ZSK25 : 1030-6 (+0.17%)
ZSX25 : 1009-6 (+0.50%)
ZSN25 : 1038-4 (+0.17%)
Wheat Posts Strength on Wednesday

The wheat complex popped from mixed midday action to close with Wednesday gains across the three exchanges. Chicago SRW futures turned green into the close, with gains of 1 to 3 cents. Kansas City HRW...

KEN25 : 580-2 (+1.27%)
MWK25 : 608-6 (+1.12%)
KEK25 : 565-2 (+1.30%)
ZWK25 : 547-4 (+1.77%)
ZWN25 : 562-2 (+1.58%)
Corn Rallies into the Close on Tariff Relief

Corn futures got a late session pop higher on Wednesday, following an announcement on tariff relief by President Trump. Contracts were up 4 to 6 cents across most months. The front month CmdtyView national...

ZCZ25 : 454-4 (+0.06%)
ZCPAUS.CM : 4.5469 (+2.05%)
ZCPZ25US.CM : 4.2044 (+0.91%)
ZCK25 : 485-2 (+0.47%)
ZCN25 : 490-4 (+0.36%)
Shootin' the Bull about a little bit for everyone.

Today's price action had a little bit for everyone.

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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