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Spring Wheat Sep '17 (MWU17)

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Spring Wheat Futures Market News and Commentary

Wheat Sitting at 2-Month Highs

The wheat complex is continuing to rally at midday, nearing the highest prices since February.  Kansas City continues to lead the charge, with gains of 13 to 17 cents. Chicago contracts are up 10 to 13 cents on the session. MPLS spring wheat is 5 to 10 ¼ cents higher.

Portions of the HRW wheat country from Western Kansas down to the are expected to miss out on the widespread rain event over the next week, with minimal amounts expected. The 6-10 day forecast also calls for above normal temperatures as we get into May.

Thursday morning’s weekly Export Sales report is expected to show anywhere from net reductions of 100,000 MT to net sales of 100,000 MT for old crop. New crop sales in the week of 4/18 are seen at 100,000 to 400,000 MT.

May 24 CBOT Wheat  is at $5.96 3/4, up 11 3/4 cents,

Jul 24 CBOT Wheat  is at $6.14 1/2, up 11 3/4 cents,

May 24 KCBT Wheat  is at $6.25 1/2, up 16 3/4 cents,

Jul 24 KCBT Wheat  is at $6.29 1/4, up 15 cents,

Jul... 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
08/31/17
Expiration Date
09/14/17 (expired)

Seasonal Chart

Spring Wheat Sep '17
Average Price Chart for 5 Prior Sep Contracts

Commitment of Traders Positions as of Apr 16, 2024

View Chart Details
Commercials - Long / Short
39,518 (-2,443)
15,716 (-1,535)
Non-Commercials - Long / Short
11,300 (+107)
34,692 (-1,186)
Producers - Long / Short
36,609 (-2,307)
15,173 (-1,454)
Swap Dealers - Long / Short
2,679 (+135)
313 (+190)
Managed Money - Long / Short
8,534 (+610)
34,145 (-929)
Other Reportables - Long / Short
2,766 (-503)
547 (-257)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
609-6 +1.35%
on 09/05/17
681-0 -9.25%
on 08/16/17
-52-0 (-7.76%)
since 08/14/17
3-Month
609-6 +1.35%
on 09/05/17
868-4 -28.84%
on 07/05/17
-16-4 (-2.60%)
since 06/14/17
52-Week
527-0 +17.27%
on 09/27/16
868-4 -28.84%
on 07/05/17
+86-2 (+16.22%)
since 09/14/16

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Most Recent Stories

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Soybeans Retreating from Highs at Midday

Soybeans prices are showing 3 to 5 cent gains in the nearbys on Wednesday. Soymeal is posting strength to lead the complex higher, up $4.80 to $5.20/ton, with Soy Oil back down 59 to 63 points. USDA did...

ZMN24 : 350.9 (+1.39%)
ZLN24 : 45.33 (-1.20%)
ZSK24 : 1170-4 (+0.26%)
ZSPAUS.CM : 11.1834 (+0.28%)
ZSN24 : 1185-6 (+0.32%)
ZSX24 : 1177-6 (+0.32%)
ZSPX24US.CM : 11.1738 (+0.34%)
Wheat Sitting at 2-Month Highs

The wheat complex is continuing to rally at midday, nearing the highest prices since February. Kansas City continues to lead the charge, with gains of 13 to 17 cents. Chicago contracts are up 10 to 13...

ZWK24 : 598-0 (+2.22%)
ZWN24 : 616-4 (+2.28%)
KEK24 : 628-4 (+3.24%)
KEN24 : 632-6 (+3.01%)
MWK24 : 680-6 (+2.14%)
3 Reasons Why SRW Wheat Isn't Fundamentally Bullish

Yes, the Chicago SRW Wheat market has rallied of late, but that doesn't mean it is fundamentally bullish.

IWY00 : 533.19s (+2.86%)
Egypt's Wheat Imports Expected to Rise as Economy Stabilizes: USDA

Egypt's wheat imports are forecast to climb in the 2024/25 marketing year as the country's economy stabilizes and access to foreign currency improves, according to a report by the Foreign Agricultural...

Corn Prices Green to Start Wednesday

Corn is trading ½ cent to a penny higher early on Wednesday. The Tuesday action in the corn market saw futures close mixed with 2023 and 2024 crop up 1 ¼ to 3 ¼ cents Contracts for the ’25 crop and...

ZCK24 : 440-2 (-0.62%)
ZCPAUS.CM : 4.2473 (-0.63%)
ZCN24 : 451-0 (-0.33%)
ZCZ24 : 474-6 (unch)
ZCPZ24US.CM : 4.4357 (unch)
Soybeans Higher Following Overnight Trade

Soybeans are up 1 ½ to 3 cents after a round of overnight back and forth trade. Futures posted gains of as little as a fraction to as much as 6 ¼ cents on Tuesday. Soymeal turned around on midday weakness...

ZMN24 : 350.9 (+1.39%)
ZLN24 : 45.33 (-1.20%)
ZSK24 : 1170-4 (+0.26%)
ZSPAUS.CM : 11.1834 (+0.28%)
ZSN24 : 1185-6 (+0.32%)
ZSX24 : 1177-6 (+0.32%)
ZSPX24US.CM : 11.1738 (+0.34%)
Wheat Mixed on Wednesday Morning

The wheat futures complex is mixed this morning, with KC leading higher, CBT heading lower, and MPLS unch. They continued this week’s rally on Tuesday. Chicago contracts were up 8 to 15 ¼ cents on the...

ZWK24 : 598-0 (+2.22%)
ZWN24 : 616-4 (+2.28%)
KEK24 : 628-4 (+3.24%)
KEN24 : 632-6 (+3.01%)
MWK24 : 680-6 (+2.14%)
Shootin' the Bull about getting full

Futures traders were quick to relinquish their buying today.  I think that when you delve inside the business, you'll find that importers are no longer chasing the bid for imported inventory.

Wheat Bottom Came Right At A 78.6% Fibonacci Retracement, 50 Cent Rally Follows

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

ZWK24 : 598-0 (+2.22%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 629-0
1st Resistance Point 623-4
Last Price 618-0s
1st Support Level 615-2
2nd Support Level 612-4
3rd Support Level N/A

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52-Week High 868-4
Fibonacci 61.8% 738-0
Fibonacci 50% 697-6
Fibonacci 38.2% 657-4
Last Price 618-0s
52-Week Low 527-0

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