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Wheat May '26 (ZWK26)

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Wheat Futures Market News and Commentary

Wheat Bulls Put Premium in Heading into the Weekend

The wheat complex led the grain rally on Friday, following more Black Sea news. Chicago SRW contracts were up 11 3/4 to 22 cents on Friday, with a weekly gain of 35 cents. KC HRW futures led the wheat rally, with contracts up 15 to 33 cents on Friday, as September was 40 ¼ cents higher on the week. MPLS spring wheat closed the session with contracts 9 to 10 ¾ cents higher, as September was 1 ¼ cents lower this week. 

Russia rejected the Ukrainian proposal for a ceasefire in the Black Sea region on civilian vessels and port infrastructure. Recent increases in strikes on export infrastructure has led to limited shipments out of key ports in the Black Sea in a period where wheat shipments typically ramp up after harvest for one of the world’s key wheat exporting regions. 

CFTC’s weekly Commitment of Traders report showed managed money adding back another 7,615 contracts to their CBT wheat net short position in the week of 8/11 to a net short of 31,401 contracts. In KC wheat... 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
$1,870/1,700
First Notice Date
04/30/26
Expiration Date
05/14/26 (expired)

Seasonal Chart

Wheat May '26
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Aug 11, 2026

View Chart Details
Commercials - Long / Short
171,852 (+4,904)
149,098 (-1,463)
Non-Commercials - Long / Short
114,979 (-2,133)
139,889 (+8,018)
Producers - Long / Short
64,948 (-2,948)
117,580 (-3,254)
Swap Dealers - Long / Short
89,805 (+5,754)
14,419 (-307)
Managed Money - Long / Short
78,009 (-2,028)
111,409 (+6,502)
Other Reportables - Long / Short
36,970 (-105)
28,480 (+1,516)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
582-6 +11.03%
on 04/17/26
670-6 -3.54%
on 05/13/26
+55-0 (+9.29%)
since 04/14/26
3-Month
538-6 +20.09%
on 02/17/26
670-6 -3.54%
on 05/13/26
+98-4 (+17.96%)
since 02/13/26
52-Week
513-2 +26.06%
on 01/02/26
670-6 -3.54%
on 05/13/26
+56-0 (+9.48%)
since 05/14/25

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CCZ26 : 5,773s (+0.94%)
ZCZ26 : 483-2s (+2.38%)
ZWU26 : 674-6s (+3.37%)
KEZ26 : 767-6s (+4.49%)
KCZ26 : 314.30s (+0.48%)
RMX26 : 3,594s (-1.37%)
ZSX26 : 1192-4s (+0.87%)
CTZ26 : 84.80s (+1.56%)
SBV26 : 16.60s (-1.31%)
Wheat Bulls Put Premium in Heading into the Weekend

The wheat complex led the grain rally on Friday, following more Black Sea news. Chicago SRW contracts were up 11 3/4 to 22 cents on Friday, with a weekly gain of 35 cents. KC HRW futures led the wheat...

KEZ26 : 767-6s (+4.49%)
KEU26 : 754-2s (+4.68%)
MWU26 : 6.7825s (+1.34%)
ZWU26 : 674-6s (+3.37%)
ZWZ26 : 689-4s (+3.18%)
Corn Following Wheat Higher on Friday

Corn futures rounded out the week in rally mode, as contracts were up 5 to 11 ¼ cents across the board on Friday September rallied 20 cents on the week with December up 21 ¼ cents. The CmdtyView national...

ZCZ26 : 483-2s (+2.38%)
ZCZ26 : 483-2s (+2.38%)
ZCU26 : 459-0s (+2.46%)
ZCPZ26US.CM : 4.4897 (+2.58%)
ZCPAUS.CM : 4.3005 (+2.82%)
Soybeans Find Strength to Close the Week

Soybeans posted gains of 5 ½ to 11 ¾ cents across most contracts on Friday, with September up 18 ¾ cents on the week. November was up 16 ¼ cents. The cmdtyView national average Cash Bean price was...

ZSPAUS.CM : 11.5116 (+0.95%)
ZLZ26 : 68.97s (+0.86%)
ZMZ26 : 316.3s (+0.73%)
ZSPX26US.CM : 11.3441 (+0.92%)
ZSX26 : 1192-4s (+0.87%)
ZSU26 : 1177-6s (+1.01%)
ZSX26 : 1192-4s (+0.87%)
Grain Spreads: Escalations Continue

Wheat Surges Amid Fund Buying

Shootin' the Bull about getting what you asked for

In my opinion, traders started digging the Tiger trap early this week, believed in expectation of Friday's news.

Soybeans Lag Wheat as Technical Rally Fails

Analysis of nearby soybean futures sliding under the declining 200-week moving average and key lessons for Prairie farmers navigating grain rallies.

ZCZ26 : 483-2s (+2.38%)
ZSX26 : 1192-4s (+0.87%)
ZWZ26 : 689-4s (+3.18%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 647-0
2nd Resistance Point 647-0
1st Resistance Point 647-0
Last Price 647-0s
1st Support Level 647-0
2nd Support Level 647-0
3rd Support Level 647-0

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52-Week High 670-6
Last Price 647-0s
Fibonacci 61.8% 610-5
Fibonacci 50% 592-0
Fibonacci 38.2% 573-3
52-Week Low 513-2

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