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Wheat Mini Jul '23 (XWN23)

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Wheat Mini Futures Market News and Commentary

Wheat Rallying on Wednesday

The wheat complex is trading with double digit gains across the three markets at midday. Chicago SRW contracts are 15 cents higher in the front months. KC HRW futures are 14 to 15 ½ cents higher. MPLS spring wheat is up 12 to 13 cents at midday. The market will round out the week on Thursday, with Friday off in observance of Juneteenth.

Export Sales data will be updated on Thursday, with traders looking for between 250,000 and 450,000 MT in 2026/27sales.

The EU wheat exports from July 1 to June 14 have totaled 22.38 MMT according to European Commission data, up 1.44 MMT from the same period a year ago. The FranceAgriMer estimates the French wheat ending stocks at 3.5 MMT, a 0.22 MMT increase from the May estimate. 

Algeria has purchased an estimated 600,000 to 780,000 MT of wheat in their tender on Wednesday.

Jul 26 CBOT Wheat  is at $6.11, up 15 cents,

Sep 26 CBOT Wheat  is at $6.19 1/4, up 15 cents,

Jul 26 KCBT Wheat  is at $6.48 1/2, up 14 3/4... Read more

Contract Specifications

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Contract
Chicago Soft Red Winter Wheat mini-sized
Contract Size
1,000 bushels
Tick Size
1/8 cent per bushel ($1.25 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Sun-Fri) CST
Exchange
CBOT
Point Value
$10
Margin/Maintenance
$429/390
First Notice Date
06/30/23
Expiration Date
07/14/23 (expired)

Seasonal Chart

Wheat Mini Jul '23
Average Price Chart for 5 Prior Jul Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
621-2 +3.26%
on 07/12/23
756-7 -15.24%
on 06/26/23
+11-2 (+1.79%)
since 06/14/23
3-Month
573-0 +11.95%
on 05/31/23
756-7 -15.24%
on 06/26/23
-51-0 (-7.36%)
since 04/14/23
52-Week
573-0 +11.95%
on 05/31/23
949-0 -32.40%
on 10/10/22
-184-0 (-22.29%)
since 07/14/22

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Wheat Rallying on Wednesday

The wheat complex is trading with double digit gains across the three markets at midday. Chicago SRW contracts are 15 cents higher in the front months. KC HRW futures are 14 to 15 ½ cents higher. MPLS...

KEU26 : 659-6s (+2.93%)
KEN26 : 652-4s (+2.96%)
MWN26 : 6.2550s (+2.16%)
ZWN26 : 612-6s (+2.81%)
ZWU26 : 621-2s (+2.81%)
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ZCPAUS.CM : 3.8966 (+1.72%)
Why Soybean Meal Is a Value Buy Here as Prices Rebound

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Wheat Posting Strength Early on Wednesday

Wheat is showing double digit gains in the winter wheat contracts so far on Wednesday morning. The wheat complex posted mixed trade on Tuesday, as the soft red and hard red spreads were unwinding. Chicago...

KEU26 : 659-6s (+2.93%)
KEN26 : 652-4s (+2.96%)
MWN26 : 6.2550s (+2.16%)
ZWN26 : 612-6s (+2.81%)
ZWU26 : 621-2s (+2.81%)
Corn Bulls are Active to Start Wednesday Trade

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ZCN26 : 421-0s (+1.75%)
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ZCPAUS.CM : 3.8966 (+1.72%)
Soybean Gains Pushing to Wednesday Morning

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Pure Hedge - Livestock and Grain

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ZSN26 : 1132-0s (+0.18%)
DBA : 26.85 (+0.71%)
SOYB : 24.44 (+0.41%)
CORN : 17.16 (+1.36%)
WEAT : 23.20 (+1.98%)
ZWN26 : 612-6s (+2.81%)
ZCN26 : 421-0s (+1.75%)
TAGS : 24.14 (+1.23%)
Wheat Closes Mixed, with Chicago Unwinding Some Spreads

The wheat complex posted mixed trade on Tuesday, as the soft red and hard red spreads were unwinding. Chicago SRW contracts were 3 ½ to 6 ¼ cents in the green at the close. KC HRW futures were steady...

KEU26 : 659-6s (+2.93%)
KEN26 : 652-4s (+2.96%)
MWN26 : 6.2550s (+2.16%)
ZWN26 : 612-6s (+2.81%)
ZWU26 : 621-2s (+2.81%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 641-4
2nd Resistance Point 641-4
1st Resistance Point 641-4
Last Price 641-4s
1st Support Level 641-4
2nd Support Level 641-4
3rd Support Level 641-4

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52-Week High 949-0
Fibonacci 61.8% 805-3
Fibonacci 50% 761-0
Fibonacci 38.2% 716-5
Last Price 641-4s
52-Week Low 573-0

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