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Hard Red Wheat Jul '21 (KEN21)
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Hard Red Wheat Futures Market News and Commentary

2-4% Losses for Wheat

After last week’s runnup the wheat market is dropping back so far into the new week. CBT SRW futures are more than 3% in the red with double digit losses of as much as 20 cents. HRW futures are over 4% in the red with March down by 27 ½ cents so far. Spring wheat futures in Minneapolis are the firmest of the complex, but prices are still 2% weaker for midday. 

Wheat exports were shown at 281,697 MT for the week that ended 12/07, according to the USDA’s Export Inspections report. That was a 50% increase for the week, and was up 60k MT from the same week last year. The report had white wheat at 103k MT of the total and HRS as 96k MT of the total. The accumulated wheat export reached 8.6 MMT, compared to 11.1 MMT at the same point last year. 

In Friday’s WASDE report, USDA increased wheat exports by 25 mbu to 725 mbu. Projected carryout was trimmed to 659 mbu. The global wheat carryout was 500k MT tighter to 258.2.

Mar 24 CBOT Wheat  is at $6.11 3/4, down 20 cents, 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
$2,860/2,600
First Notice Date
06/30/21
Expiration Date
07/14/21 (expired)

Seasonal Chart

Hard Red Wheat Jul '21
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Dec 5, 2023

View Chart Details
Commercials - Long / Short
80,755 (-7,214)
55,786 (+4,446)
Non-Commercials - Long / Short
59,129 (-673)
82,654 (-11,583)
Producers - Long / Short
29,127 (-9,097)
40,948 (+2,476)
Swap Dealers - Long / Short
39,604 (-924)
2,814 (-837)
Managed Money - Long / Short
39,372 (+200)
77,751 (-11,087)
Other Reportables - Long / Short
19,757 (-873)
4,903 (-496)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
573-0 +7.77%
on 07/06/21
661-4 -6.65%
on 07/01/21
-10-4 (-1.67%)
since 06/14/21
3-Month
573-0 +7.77%
on 07/06/21
741-4 -16.72%
on 05/07/21
+6-0 (+0.98%)
since 04/14/21
52-Week
449-6 +37.30%
on 08/07/20
741-4 -16.72%
on 05/07/21
+138-2 (+28.85%)
since 07/14/20

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Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Weak Signal Strength.

Key Turning Points

3rd Resistance Point 617-4
2nd Resistance Point 617-4
1st Resistance Point 617-4
Last Price 617-4s
1st Support Level 617-4
2nd Support Level 617-4
3rd Support Level 617-4

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52-Week High 741-4
Fibonacci 61.8% 630-0
Last Price 617-4s
Fibonacci 50% 595-5
Fibonacci 38.2% 561-2
52-Week Low 449-6

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