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Hard Red Wheat Mar '23 (KEH23)
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Hard Red Wheat Futures Market News and Commentary

Wheat Market Mostly Higher thus far

Midweek wheat futures are mixed but mostly higher at midday. Chicago futures are trading with 5 1/2 to 6 1/2 cents higher. KC wheat has a fractional loss in the March ’24 contract, as the other nearbys are fractionally to 3 3/4 cents higher. Spring wheat futures are trading mostly weaker in the front months within 2 cents of UNCH. 

CME reported a 3.9k contract decrease in CBT wheat futures, but a 3.2k contract increase to SRW options in the Tuesday session. Most of that future’s liquidation was via the May contract, and May calls were the most popular. 

The MGE reported MN and WI warehouse stocks were 15.424m bushels as of 3/26. That was down 23.3% from last year’s supplies and 99k bushels lighter wk/wk. 

Interfax reported that Russia is set to construct 61 grain vessels with the lead ships to be ready for launch in 2-3 years. 

The UK (post Brexit) and Australia’s Free Trade Agreement will remove ag related tariffs, including an 80k MT duty free quota for whe... Read more

Contract Specifications

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Contract
KC Hard 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
KCBT
Point Value
$50
Margin/Maintenance
$3,190/2,900
First Notice Date
02/28/23
Expiration Date
03/14/23 (expired)

Seasonal Chart

Hard Red Wheat Mar '23
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Mar 21, 2023

View Chart Details
Commercials - Long / Short
80,096 (-7)
69,340 (+1,777)
Non-Commercials - Long / Short
41,069 (-2,384)
48,647 (-5,687)
Producers - Long / Short
33,845 (-1,349)
59,213 (+499)
Swap Dealers - Long / Short
37,934 (+175)
1,810 (+111)
Managed Money - Long / Short
33,032 (-425)
42,413 (-4,882)
Other Reportables - Long / Short
8,037 (-1,959)
6,234 (-805)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
786-2 +3.47%
on 03/09/23
915-2 -11.12%
on 02/21/23
-92-4 (-10.21%)
since 02/14/23
3-Month
786-2 +3.47%
on 03/09/23
921-4 -11.72%
on 02/14/23
-36-6 (-4.32%)
since 12/14/22
52-Week
786-2 +3.47%
on 03/09/23
1363-0 -40.32%
on 05/17/22
-207-0 (-20.28%)
since 03/14/22

More Hard Red Wheat Quotes

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Most Recent Stories

More News
AgMaster Report 03/29/2023

MAY CORN China has embarked on a very aggressive buying program – making Flash 8am buys of US Corn 10 of the last 11 trading days – totaling over 3MMT – which has rallied the May Corn 40 cents (610-650)!...

Wheat Market Mostly Higher thus far

Midweek wheat futures are mixed but mostly higher at midday. Chicago futures are trading with 5 1/2 to 6 1/2 cents higher. KC wheat has a fractional loss in the March ’24 contract, as the other nearbys...

ZWK23 : 704-6s (+0.71%)
ZWN23 : 716-2s (+0.67%)
ZWPAES.CM : 6.4906 (+0.75%)
KEK23 : 870-4s (-0.23%)
KEPAWS.CM : 8.3581 (-0.24%)
MWK23 : 881-0 (-0.17%)
Mixed Midday for Soy Futures

The soybean futures market is mixed with 1 to 2 1/2 cent weakness from the new crop contracts and fractional to 8 1/2 cent gains in old crop. May beans are only 2 cents off their high from an 11 3/4 cent...

XSK23 : 4,094s (+1.26%)
RSK23 : 770.00s (+1.00%)
KOM23 : 3,707 (unch)
ZSK23 : 1477-2s (+0.65%)
ZSPAUS.CM : 14.4681 (+0.77%)
ZSN23 : 1450-6s (+0.43%)
ZSQ23 : 1402-4s (+0.32%)
Corn Holding Fractional Gains

Front month corn futures are fractionally to 1 3/4 cents higher at midday. The board was up by nearly a dime earlier in the trade session. With the Goldman Roll and other index moves starting next week,...

ZCK23 : 650-4s (+0.50%)
ZCPAUS.CM : 6.5657 (+0.53%)
ZCN23 : 630-4s (+0.16%)
ZCU23 : 579-2s (-0.22%)
Buckle Up Your Chinstrap. The Corn & Ethanol Report 03/29/2023

We kickoff the day with MBA 30-year Mortgage Rate, MBA Mortgage Market Index, MBA Mortgage Refinance Index, MBA Purchase Index, and MBA Mortgage Applications at 6:00 A.M., Fed Barr Testimony and Pending...

Soybeans have hit our short term target on a rally from 61.8%

Educational and Actionable Information using Fibonacci and W.D. Gann Analysis.

SOYB : 26.84 (-0.19%)
Potential Price Targets Ahead of Friday's USDA Report

Corn, soybeans, and wheat have had impressive rallies so far this week, but are on the verge of testing some significant resistance levels.

Morning Wheat Quotes Up Double Digits

Wheat futures are trading with double digit gains of as much as 18 cents across the three classes. The Tuesday wheat trade left futures in the black, though SRW was left out some. CBT SRW ended with 1...

ZWK23 : 704-6s (+0.71%)
ZWN23 : 716-2s (+0.67%)
ZWPAES.CM : 6.4906 (+0.75%)
KEK23 : 870-4s (-0.23%)
KEPAWS.CM : 8.3581 (-0.24%)
MWK23 : 881-0 (-0.17%)
Soy Markets Mostly Higher

AM soybean prices are 1 3/4 cents to 4 1/4 cents higher so far. Meal is also up in the AM, but BO is down by 11 points so far. The Tuesday session ended with strong gains for soy complex futures led by...

XSK23 : 4,094s (+1.26%)
RSK23 : 770.00s (+1.00%)
ZSK23 : 1477-2s (+0.65%)
ZSPAUS.CM : 14.4681 (+0.77%)
ZSN23 : 1450-6s (+0.43%)
ZSQ23 : 1402-4s (+0.32%)
Corn Extending Rally

The morning corn quotes are another 1 1/2 to 6 cents higher so far and near their overnight highs. The old crop corn contracts ended the Tuesday session fractionally to a penny lower, while new crop prices...

ZCK23 : 650-4s (+0.50%)
ZCPAUS.CM : 6.5657 (+0.53%)
ZCN23 : 630-4s (+0.16%)
ZCU23 : 579-2s (-0.22%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Strong Signal Strength.

Key Turning Points

3rd Resistance Point 813-4
2nd Resistance Point 813-4
1st Resistance Point 813-4
Last Price 813-4s
1st Support Level 813-4
2nd Support Level 813-4
3rd Support Level 813-4

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52-Week High 1363-0
Fibonacci 61.8% 1142-5
Fibonacci 50% 1074-5
Fibonacci 38.2% 1006-5
Last Price 813-4s
52-Week Low 786-2

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