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Hard Red Winter Wheat Dec '25 (KEZ25)

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Hard Red Winter Wheat Futures Market News and Commentary

Wheat Closes with Tuesday Weakness

The wheat complex was under pressure on Tuesday, with the three markets falling lower. Chicago SRW contracts were 11 to 14 cents in the red. KC HRW futures were 9 1/2 to 11 1/4 cents lower across the board. MPLS spring wheat was down 5 1/2 to 10 3/4 cents across most contracts.

Weekly NASS Crop Progress data showed spring wheat conditions up 2% at 55% gd/ex, with the Brugler500 index up 6 points higher to 348. Ratings in MT and SD were up 27 points, with ND down 7 and MN slipping 1 point,

Export data released by Census this morning showed 1.473 MMT of exports in June, a 3 year low and 8.49% below the May total. 

A South Korean mill purchased 50,000 MT of US wheat in a tender overnight.

Sep 26 CBOT Wheat  closed at $6.38 1/2, down 12 1/2 cents,

Dec 26 CBOT Wheat  closed at $6.57 1/4, down 12 cents,

Sep 26 KCBT Wheat  closed at $7.07, down 10 1/4 cents,

Dec 26 KCBT Wheat  closed at $7.24 1/2, down 9 1/2 cents,

Sep 26 MIAX Wheat  closed a... Read more

Contract Specifications

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Contract
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
CBOT
Point Value
$50
Margin/Maintenance
$1,870/1,700
First Notice Date
11/28/25
Expiration Date
12/12/25 (expired)

Seasonal Chart

Hard Red Winter Wheat Dec '25
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Jul 28, 2026

View Chart Details
Commercials - Long / Short
113,133 (-930)
129,869 (+3,084)
Non-Commercials - Long / Short
72,422 (-1,011)
56,464 (-2,669)
Producers - Long / Short
26,461 (-2,263)
121,770 (+2,667)
Swap Dealers - Long / Short
82,654 (+75)
4,081 (-841)
Managed Money - Long / Short
65,075 (-350)
33,664 (-5,051)
Other Reportables - Long / Short
7,347 (-661)
22,800 (+2,382)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
498-6 unch
on 12/12/25
534-0 -6.60%
on 11/14/25
-26-6 (-5.09%)
since 11/12/25
3-Month
477-2 +4.50%
on 10/14/25
540-0 -7.64%
on 11/05/25
-16-0 (-3.11%)
since 09/12/25
52-Week
477-2 +4.50%
on 10/14/25
682-6 -26.95%
on 02/19/25
-107-2 (-17.70%)
since 12/12/24

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Wheat Closes with Tuesday Weakness

The wheat complex was under pressure on Tuesday, with the three markets falling lower. Chicago SRW contracts were 11 to 14 cents in the red. KC HRW futures were 9 1/2 to 11 1/4 cents lower across the board....

KEZ26 : 723-6 (-0.10%)
KEU26 : 706-0 (-0.14%)
MWU26 : 6.8375 (-0.11%)
ZWU26 : 637-2 (-0.20%)
ZWZ26 : 656-2 (-0.15%)
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Wheat Bears Showing Up on Tuesday

The wheat complex is trading with contracts lower at midday. Chicago SRW contracts are 12 to 14 cents in the red. KC HRW futures are 10 to 12 cents lower in the front months at midday. MPLS spring wheat...

KEZ26 : 723-6 (-0.10%)
KEU26 : 706-0 (-0.14%)
MWU26 : 6.8375 (-0.11%)
ZWU26 : 637-2 (-0.20%)
ZWZ26 : 656-2 (-0.15%)
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Soybeans are falling 18 to 20 cents across the board on Tuesday, pressured by weaker products, crude and a wetter forecast. The cmdtyView national average Cash Bean price is down 18 1/4 cents at $11.29....

ZSPAUS.CM : 11.3355 (-1.20%)
ZLZ26 : 67.51 (-0.01%)
ZMZ26 : 317.7 (-0.22%)
ZSPX26US.CM : 11.1810 (-1.26%)
ZSX26 : 1179-0 (+0.11%)
ZSQ26 : 1148-6 (-0.54%)
ZSU26 : 1160-2 (+0.13%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 504-1
2nd Resistance Point 503-1
1st Resistance Point 500-7
Last Price 498-6s
1st Support Level 497-5
2nd Support Level 496-5
3rd Support Level 494-3

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52-Week High 682-6
Fibonacci 61.8% 604-2
Fibonacci 50% 580-0
Fibonacci 38.2% 555-6
Last Price 498-6s
52-Week Low 477-2

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