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Spring Wheat Jul '14 (MWN14)

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Spring Wheat Futures Market News and Commentary

Wheat Posting Wednesday Gains

The wheat complex is showing higher trade across most contracts on Wednesday. Chicago SRW is trading with 4 to 5 cent gains at midday. KC HRW futures are up 1/2 to 1 ½ cents in the front months. MPLS spring wheat are fractionally to 1 ½ cents higher.

Harvest may be limited in much of the Southern Plains over the next week, as NOAA shows 1 to 3 inches expected in TX through, OK and KS.

Wheat production will be updated on Thursday via the monthly Crop Production report, with a Bloomberg estimate of analysts looking for 1.555 bbu of US wheat production. Winter heat is seen at an average guess of 1.04 bbu, an 8 mbu cut if realized. HRW is expected to be down 7 mbu to 508 mbu, the SRW up 1 mbu to 302.

Coceral estimates the EU and UK wheat crops at 143.7 MMT for this year, up 1.1 MMT from the previous projection. 

Jul 26 CBOT Wheat  is at $5.89 1/2, up 4 1/4 cents,

Sep 26 CBOT Wheat  is at $6.01 1/2, up 4 3/4 cents,

Jul 26 KCBT Wheat  is at $6.31 1/4, u... Read more

Contract Specifications

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Contract
Hard Red Spring Wheat
Contract Size
5,000 bushels
Tick Size
0.0025 dollars per bushel ($12.50 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Sun-Fri) CST
Exchange
MIAX Ag
Point Value
$5,000
Margin/Maintenance
$2,310/2,100
First Notice Date
06/30/14
Expiration Date
07/14/14 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jun 2, 2026

View Chart Details
Commercials - Long / Short
42,229 (+4,033)
64,628 (-2,554)
Non-Commercials - Long / Short
32,244 (-3,736)
10,079 (+2,903)
Producers - Long / Short
38,221 (+3,275)
63,875 (-3,097)
Swap Dealers - Long / Short
3,717 (+677)
462 (+462)
Managed Money - Long / Short
26,735 (-2,948)
8,446 (+2,365)
Other Reportables - Long / Short
5,509 (-788)
1,633 (+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
611-4 +4.66%
on 07/11/14
738-0 -13.28%
on 07/11/14
-44-2 (-6.47%)
since 06/13/14
3-Month
611-4 +4.66%
on 07/11/14
813-4 -21.33%
on 05/06/14
-85-6 (-11.82%)
since 04/14/14
52-Week
603-4 +6.05%
on 01/31/14
813-4 -21.33%
on 05/06/14
-166-2 (-20.62%)
since 07/12/13

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The wheat complex is showing higher trade across most contracts on Wednesday. Chicago SRW is trading with 4 to 5 cent gains at midday. KC HRW futures are up 1/2 to 1 ½ cents in the front months. MPLS...

KEU26 : 640-2s (unch)
KEN26 : 630-4s (-0.04%)
MWN26 : 6.1800s (+0.08%)
ZWN26 : 587-4s (+0.38%)
ZWU26 : 599-4s (+0.46%)
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Wheat Showing Early Wednesday Gains

Wheat is higher across most contracts so far on Tuesday Wednesday. The wheat complex posted mixed action on Tuesday. Chicago SRW were up ½ to 2 cents in the front months on Tuesday, with other contracts...

KEU26 : 640-2s (unch)
KEN26 : 630-4s (-0.04%)
MWN26 : 6.1800s (+0.08%)
ZWN26 : 587-4s (+0.38%)
ZWU26 : 599-4s (+0.46%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 682-3
1st Resistance Point 661-1
Last Price 640-0s
1st Support Level 617-5
2nd Support Level 595-3
3rd Support Level N/A

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52-Week High 813-4
Fibonacci 61.8% 733-2
Fibonacci 50% 708-4
Fibonacci 38.2% 683-6
Last Price 640-0s
52-Week Low 603-4

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