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Spring Wheat Dec '22 (MWZ22)

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Spring Wheat Futures Market News and Commentary

Wheat Market Heads Lower on Wednesday

The wheat complex closed the midweek session with weakness across all three exchanges. Chicago wheat contracts were own 8 ¼ to 9 ½ cents on the day. Kansas City futures were down 11 to 15 ½ cents at the close to lead the charge to the downside for the winter wheat contracts. MPLS spring wheat was down 6 to 16 ¼ cent across the board.

Forecasts for rain are sneaking into much of the Southern Plains over the next week, which have remained dry so far this spring. Additional pressure came from forecasts of rain in drier parts of the Russian growing regions. 

Traders are expecting Thursday morning’s Export sales report to show net cancellations of 100,000 MT to sales of 100,000 MT for old crop wheat as we enter the last month of the marketing year. New crop sales are estimated in a range of 200,000-600,000 MT. 

Egypt purchased 420,000 MT of wheat in their latest tender on Wednesday. Of that total, 360,000 MT was Russian origin, with 60,000 MT Romanian.

Jul 24 CBOT... 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
11/30/22
Expiration Date
12/14/22 (expired)

Seasonal Chart

Spring Wheat Dec '22
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Apr 30, 2024

View Chart Details
Commercials - Long / Short
25,780 (-9,724)
17,532 (+3,662)
Non-Commercials - Long / Short
11,884 (-356)
18,597 (-15,561)
Producers - Long / Short
22,824 (-9,755)
17,174 (+3,519)
Swap Dealers - Long / Short
2,635 (-75)
37
Managed Money - Long / Short
9,125 (+273)
18,419 (-15,023)
Other Reportables - Long / Short
2,759 (-629)
178 (-538)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
904-0 +3.93%
on 12/05/22
982-6 -4.40%
on 11/15/22
-23-4 (-2.44%)
since 11/14/22
3-Month
904-0 +3.93%
on 12/05/22
1024-2 -8.27%
on 10/10/22
+1-4 (+0.16%)
since 09/14/22
52-Week
850-0 +10.53%
on 01/14/22
1400-0 -32.89%
on 05/17/22
+27-2 (+2.99%)
since 12/14/21

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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 939-4
2nd Resistance Point 939-4
1st Resistance Point 939-4
Last Price 939-4s
1st Support Level 939-4
2nd Support Level 939-4
3rd Support Level 939-4

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52-Week High 1400-0
Fibonacci 61.8% 1189-7
Fibonacci 50% 1125-0
Fibonacci 38.2% 1060-1
Last Price 939-4s
52-Week Low 850-0

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