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Wheat May '12 (ZWK12)

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Wheat Futures Market News and Commentary

Wheat Trading Double Digits Higher Following Data Dump

The wheat complex is posting strong double digit gains on Friday. Chicago contracts are up 16 to 17 cents across the nearbys. Kansas City futures are trading 16 cents to the upside at midday. MPLS spring wheat futures are 13 to 15 cents in the green.

USDA added 10 mbu back on to the old crop export projection in this morning’s WASDE, which cut the 23/24 carryout number to 688 mbu. Still, 24/25 stocks are seen as building, with the carryout projected at 766 mbu, 16 mbu below the average trade guess. All wheat production was pegged at 1.858 bbu, with winter wheat coming in 46 mbu below the trade at 1.278 bbu. That was due to SRW down 68 mbu vs. the estimate at 343.6 mbu. HRW was above estimates at 705.4 mbu, with white winter at 218.7 mbu.

World stocks for the 23/24 balance sheet were tallied at 257.8 MMT by the USDA this morning, a 0.5 MMT reduction. New crop was projected to drop yr/yr by 4.2 MMT to 253.61 MMT.

SovEcon has trimmed their 24/25 Russian wheat producti... 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
$2,200/2,000
First Notice Date
04/30/12
Expiration Date
05/14/12 (expired)

Seasonal Chart

Wheat May '12
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Apr 30, 2024

View Chart Details
Commercials - Long / Short
132,764 (-2,675)
100,202 (+10,002)
Non-Commercials - Long / Short
120,889 (-2,808)
145,345 (-21,743)
Producers - Long / Short
43,691 (+1,192)
73,392 (+10,539)
Swap Dealers - Long / Short
69,704 (-3,389)
7,441 (-59)
Managed Money - Long / Short
78,496 (-588)
128,125 (-26,501)
Other Reportables - Long / Short
42,393 (-2,220)
17,220 (+4,758)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
589-6 +1.36%
on 05/09/12
649-6 -8.00%
on 04/30/12
-25-6 (-4.13%)
since 04/13/12
3-Month
589-6 +1.36%
on 05/09/12
677-6 -11.80%
on 03/05/12
-41-2 (-6.46%)
since 02/14/12
52-Week
589-6 +1.36%
on 05/09/12
960-4 -37.77%
on 05/26/11
-286-2 (-32.38%)
since 05/13/11

More Wheat Quotes

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Most Recent Stories

More News
Wheat Trading Double Digits Higher Following Data Dump

The wheat complex is posting strong double digit gains on Friday. Chicago contracts are up 16 to 17 cents across the nearbys. Kansas City futures are trading 16 cents to the upside at midday. MPLS spring...

ZWK24 : 619-6s (+0.61%)
ZWN24 : 656-0 (+2.90%)
KEK24 : 675-6s (+2.66%)
KEN24 : 667-6 (+2.45%)
MWK24 : 708-2s (unch)
Corn Rallying with Help from USDA Numbers

Corn futures are rallying post-USDA release on Friday, as contracts are up anywhere from 8 to 10 cents across most nearby months. This morning’s USDA WASDE report showed the old crop US stocks dropping...

ZCK24 : 451-4 (+1.98%)
ZCPAUS.CM : 4.4247 (+2.08%)
ZCN24 : 465-4 (+1.97%)
ZCZ24 : 488-0 (+1.67%)
ZCPZ24US.CM : 4.5855 (+1.74%)
European Commodities: Wheat Continues Its Uptrend, But Could Be Ripe for a Pullback

Wheat is starting to look a little overbought, while aluminium pulled back this week - but a breakout from here could be explosive.

LWX24 : 218.60s (+1.11%)
NFM24 : 72.960s (-3.47%)
MLU24 : 249.25 (+1.84%)
CAU24 : 7,095s (+1.18%)
Q2Y00 : 32,584.00s (+1.83%)
RMN24 : 3,440s (+0.03%)
P4Y00 : 2,561.50s (+0.49%)
CME : 209.39 (-1.98%)
P8Y00 : 19,033.00s (+0.78%)
Crop Production

Crop Production - 2024-05-10

ZSN24 : 1213-6 (+0.43%)
ZSPAUS.CM : 11.5132 (+0.44%)
ZSBAUS.CM : -0.6243 (-0.34%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 4,129s (-0.55%)
XTN24 : 4,670s (-0.70%)
ZCN24 : 465-4 (+1.97%)
ZCPAUS.CM : 4.4247 (+2.08%)
ZCBAUS.CM : -0.2303 (-0.04%)
XVN24 : 2,452s (+0.41%)
XEU24 : 62.74 (+0.85%)
WASDE

WASDE - 2024-05-10

ZSN24 : 1213-6 (+0.43%)
ZSPAUS.CM : 11.5132 (+0.44%)
ZSBAUS.CM : -0.6243 (-0.34%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 4,129s (-0.55%)
XTN24 : 4,670s (-0.70%)
ZCN24 : 465-4 (+1.97%)
ZCPAUS.CM : 4.4247 (+2.08%)
ZCBAUS.CM : -0.2303 (-0.04%)
XVN24 : 2,452s (+0.41%)
XEU24 : 62.74 (+0.85%)
RSI Oversold: The Contrarian Indicator Identified an Opportunity in Grocery Outlet (GO)

For those who prefer to march to their own beat, GO stock provides plenty of upside potential for those willing to risk extreme volatility.

GO : 20.97 (+0.24%)
Wheat Rallying to Start Friday

The wheat complex is posting double digit higher trade on Friday morning. The bulls were defending well on on Thursday. Chicago contracts were up ¾ to 3 ¾ cents on the day. Kansas City futures closed...

ZWK24 : 619-6s (+0.61%)
ZWN24 : 656-0 (+2.90%)
KEK24 : 675-6s (+2.66%)
KEN24 : 667-6 (+2.45%)
MWK24 : 708-2s (unch)
Corn Ticking Higher to Start Report Day

Corn prices are up 2 to 2 ½ cents this morning as the trade preps for today’s USDA reports. Futures closed out the Pre-WASDE trade session on Thursday with prices down 1 to 2 ¾ cents across most contracts....

ZCK24 : 451-4 (+1.98%)
ZCPAUS.CM : 4.4247 (+2.08%)
ZCN24 : 465-4 (+1.97%)
ZCZ24 : 488-0 (+1.67%)
ZCPZ24US.CM : 4.5855 (+1.74%)
Soybeans Steady Ahead of Data Release

Friday morning action is showing soybeans fractionally mixed across the front months. Futures headed lower on Thursday, with contracts down 7 ¼ to 20 cents across the board, as the 2024 contracts found...

ZMN24 : 369.3 (-0.97%)
ZLN24 : 44.43 (+4.20%)
ZSK24 : 1196-6 (+0.34%)
ZSPAUS.CM : 11.5132 (+0.44%)
ZSN24 : 1213-6 (+0.43%)
ZSX24 : 1200-4 (unch)
ZSPX24US.CM : 11.3870 (-0.01%)
Grains: What Am I Looking for in USDA's Guesses Friday?

In my Morning Commentary, I took a look at what real fundamentals were for the Grains sector given its another USDA report day.

ICY00 : 433.11s (-0.41%)
ZSN24 : 1213-6 (+0.43%)
IWY00 : 578.14s (+0.58%)
WEAT : 6.11 (+2.00%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 606-1
1st Resistance Point 601-7
Last Price 597-6s
1st Support Level 595-5
2nd Support Level 593-5
3rd Support Level N/A

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52-Week High 960-4
Fibonacci 61.8% 818-7
Fibonacci 50% 775-1
Fibonacci 38.2% 731-3
Last Price 597-6s
52-Week Low 589-6

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