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Wheat Mar '23 (ZWH23)
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Wheat Futures Market News and Commentary

Wheat Futures Rally on Friday

July SRW wheat saw a wide 20 cent range on Friday from -8 to +12 cents. At the close the board was 8 to 9 cents higher with July at a net 3c gain for the week. Front month HRW futures ended the session 9 1/2 to 9 3/4 cents higher which left July at a net 7c loss for the week. Spring wheat also rallied on Friday to limit the week’s net loss. Futures settled up by 12 to 18 3/4 cents on the day, with July down a net 10 1/4 cents for the week. 

CFTC’s weekly CoT update had CBT wheat spec traders at a 126,998 contract net short on 5/30. That was an 8,210 contract stronger net short through the week. The funds were shown closing longs in KC wheat through the week, that left the group at a 9,628 contract net long. MPLS spec traders were 7,703 contracts net short on 5/30. That was a 1,301 contract stronger net short also fueled by long liquidation. 

The weekly wheat export sales report had old crop cancelations of 210k MT. That was a MY low led by 8.2k MT sold to Thailand and 41... Read more

Contract Specifications

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Contract
Chicago Soft 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
$2,530/2,300
First Notice Date
02/28/23
Expiration Date
03/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of May 30, 2023

View Chart Details
Commercials - Long / Short
154,656 (+13,374)
65,809 (+5,113)
Non-Commercials - Long / Short
107,338 (-5,052)
201,334 (+2,625)
Producers - Long / Short
75,489 (+12,939)
51,351 (+4,832)
Swap Dealers - Long / Short
70,216 (-180)
5,507 (-334)
Managed Money - Long / Short
57,391 (-3,503)
184,425 (+2,478)
Other Reportables - Long / Short
49,947 (-1,549)
16,909 (+147)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
653-4 +5.05%
on 03/09/23
787-2 -12.80%
on 02/15/23
-99-4 (-12.66%)
since 02/14/23
3-Month
653-4 +5.05%
on 03/09/23
799-0 -14.08%
on 12/30/22
-62-6 (-8.38%)
since 12/14/22
52-Week
653-4 +5.05%
on 03/09/23
1273-2 -46.08%
on 05/17/22
-261-2 (-27.57%)
since 03/14/22

More Wheat Quotes

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Most Recent Stories

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A Closer Look at the Corn Market

A closer look at the chart, how funds are positioned, seasonal tendencies, and weather outlooks.

Wheat Futures Rally on Friday

July SRW wheat saw a wide 20 cent range on Friday from -8 to +12 cents. At the close the board was 8 to 9 cents higher with July at a net 3c gain for the week. Front month HRW futures ended the session...

ZWN23 : 619-0s (+1.35%)
ZWU23 : 632-2s (+1.28%)
ZWPAES.CM : 5.6821 (+1.57%)
KEN23 : 812-2s (+1.21%)
KEPAWS.CM : 7.7344 (+1.10%)
MWN23 : 807-6s (+2.38%)
Soymeal Missed Out on Friday Rally

Most ag markets saw strength into the weekend, though meal futures were down $1.70 to $3.60 for the settle. July soymeal was down a net $4.40 for the week. Soybean prices ended the session with double...

ZSN23 : 1352-4s (+1.73%)
ZSPAUS.CM : 13.2261 (+1.59%)
ZSQ23 : 1262-4s (+1.49%)
ZSU23 : 1192-4s (+1.30%)
Double Digit Friday Gains in Corn

After a highly contested week the corn market finished in the black. Aided by double digit gains on Friday, July was up a nickel for the week and Dec up by 6 3/4 cents from Friday to Friday. USDA cited...

ZCN23 : 609-0s (+2.78%)
ZCPAUS.CM : 6.3942 (+2.41%)
ZCU23 : 535-4s (+2.15%)
ZCZ23 : 541-2s (+2.12%)
Livestock Report

Cattle and Hogs rock

How the Alberta fires have affected some commodities

Jim Roemer's video explains the causal relationship between these drought-driven fires and their impact on certain crops

SBN23 : 24.73s (-0.60%)
CTZ23 : 81.85s (+0.33%)
ZSX23 : 1183-6s (+1.26%)
ZCZ23 : 541-2s (+2.12%)
ZWN23 : 619-0s (+1.35%)
KEN23 : 812-2s (+1.21%)
NGN23 : 2.172s (+0.65%)
Grain markets had an impressive rally to round out the week, here's how things shook out at the close.

Some of today’s strength may have come on the back of weather premium working its way back into the market ahead of the weekend. Many top producing states have been hot and try and some forecasts show...

Shootin' the Bull about short squeeze

In my opinion, the short squeeze on retail grocers, packers and feed yards is believed to have popped this week as cash traded higher and futures sharply higher.  The anticipated slowing of consumer demand...

Where are Corn, Soybean, and Wheat Prices Headed in June?

I was interviewed this morning by Michelle Rook on AgWeb's Markets Now. We discussed the recent action in the grain markets and the surge in cattle prices.

ZCN23 : 609-0s (+2.78%)
ZSN23 : 1352-4s (+1.73%)
ZWN23 : 619-0s (+1.35%)
LEM23 : 176.425s (+0.87%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 686-4
2nd Resistance Point 686-4
1st Resistance Point 686-4
Last Price 686-4s
1st Support Level 686-4
2nd Support Level 686-4
3rd Support Level 686-4

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52-Week High 1273-2
Fibonacci 61.8% 1036-4
Fibonacci 50% 963-3
Fibonacci 38.2% 890-2
Last Price 686-4s
52-Week Low 653-4

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