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Spring Wheat Sep '14 (MWU14)

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Spring Wheat Futures Market News and Commentary

Wheat Heading Higher on Thursday Morning

The wheat market is posting Thursday morning strength following overnight trade. They closed mixed on Wednesday. Kansas City led the way lower, with contracts down 3 to 10 ¼ cents and May up ¾.  Chicago contracts were down 1 ½ to 4 cents across the nearbys and up fractionally to 2 ½ cents in the deferreds. MPLS spring wheat was mixed, with front months down 2 to 3 and back months up 1 to 4 ¾ cents. 

There were 211 deliveries against May CBT wheat overnight, with Dorman listed as the stopper for 138.  There were again zero deliveries vs. KC HRW, with the oldest long subject to delivery now dated 12/6/23. 

The 7-day QPF from NOAA shows some precip making its way further into some western portions of the Plains that have thus far remained dry. 

Tuesday afternoon’s Flour Milling report showed first quarter wheat grind at 226.55 mbu during Jan-March. That was 1 mbu above the same period last year. 

The weekly Export Sales report will be released this morning, with... 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
MGEX
Point Value
$50
Margin/Maintenance
$2,750/2,500
First Notice Date
08/29/14
Expiration Date
09/12/14 (expired)

Seasonal Chart

Spring Wheat Sep '14
Average Price Chart for 5 Prior Sep Contracts

Commitment of Traders Positions as of Apr 23, 2024

View Chart Details
Commercials - Long / Short
35,504 (-4,014)
13,870 (-1,846)
Non-Commercials - Long / Short
12,240 (+940)
34,158 (-534)
Producers - Long / Short
32,579 (-4,030)
13,655 (-1,518)
Swap Dealers - Long / Short
2,710 (+31)
N/A (-313)
Managed Money - Long / Short
8,852 (+318)
33,442 (-703)
Other Reportables - Long / Short
3,388 (+622)
716 (+169)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
568-2 unch
on 09/12/14
632-0 -10.09%
on 08/22/14
-40-6 (-6.69%)
since 08/12/14
3-Month
568-2 unch
on 09/12/14
715-2 -20.55%
on 06/18/14
-121-6 (-17.64%)
since 06/12/14
52-Week
568-2 unch
on 09/12/14
819-6 -30.68%
on 05/06/14
-176-2 (-23.67%)
since 09/12/13

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Wheat Mixed on Wednesday

The wheat market closed Wednesday with mixed action across the three exchanges. Kansas City led the way lower, with contracts down 3 to 10 ¼ cents and May up ¾. Chicago contracts were down 1 ½ to 4...

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ZWN24 : 599-4 (+0.04%)
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MWK24 : 716-4 (+1.99%)
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Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 568-2
1st Resistance Point 568-2
Last Price 568-2s
1st Support Level 568-2
2nd Support Level 568-2
3rd Support Level N/A

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52-Week High 819-6
Fibonacci 61.8% 723-5
Fibonacci 50% 694-0
Fibonacci 38.2% 664-3
Last Price 568-2s
52-Week Low 568-2

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