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Wheat Jul '21 (ZWN21)

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Wheat Futures Market News and Commentary

Wheat Fades for Mixed Friday

Winter wheat futures faded during the afternoon session to close firm on Friday. CBT prices ended the session mostly lower but within 1 1/2 cents of UNCH. KC HRW wheat also closed mostly lower within 1 1/4 cents of UNCH. Spring wheat futures stayed red and closed down by 6 3/4 to 13 3/4 cents. 

CFTC data as of 7/27 showed SRW wheat specs had flipped back to net long after a week of short covering. The group was 3,067 contracts net long on 136,819 contracts of OI (itself 26% of the total SRW OI). In KC wheat, managed money extended their net long by 4,020 contracts to an 11 week high of 31,765 contracts. Spring wheat spec traders were 534 contracts less net long as of 7/27. The groups short covering left them 8,326 contracts net long. 

The International Grains Council revised their wheat output for the global 21/22 crop by 1 MMT lower to 788 MMT. Total grain production and use were both expected to be records in 21/22 with feed contributing the largest to total grain use.... 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
06/30/21
Expiration Date
07/14/21 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jul 27, 2021

View Chart Details
Commercials - Long / Short
131,440 (+279)
148,399 (+4,938)
Non-Commercials - Long / Short
106,358 (-2,961)
76,170 (-6,380)
Producers - Long / Short
29,347 (-761)
101,205 (+2,551)
Swap Dealers - Long / Short
90,540 (-1,729)
35,641 (-382)
Managed Money - Long / Short
69,252 (+791)
69,073 (-4,947)
Other Reportables - Long / Short
37,106 (-3,752)
7,097 (-1,433)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
604-4 +6.70%
on 07/12/21
683-0 -5.56%
on 07/01/21
-29-4 (-4.37%)
since 06/14/21
3-Month
604-4 +6.70%
on 07/12/21
769-4 -16.18%
on 04/27/21
-5-2 (-0.81%)
since 04/14/21
52-Week
514-0 +25.49%
on 08/12/20
769-4 -16.18%
on 04/27/21
+106-6 (+19.83%)
since 07/14/20

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Most Recent Stories

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Spring wheat yields at historic low

Spring wheat yields at historic low

Wheat Fades for Mixed Friday

Winter wheat futures faded during the afternoon session to close firm on Friday. CBT prices ended the session mostly lower but within 1 1/2 cents of UNCH. KC HRW wheat also closed mostly lower within 1...

ZWU21 : 703-6s (-0.21%)
ZWPAES.CM : 6.6504 (-0.38%)
KEU21 : 673-2s (-0.19%)
KEPAWS.CM : 6.6124 (+0.28%)
MWU21 : 904-6s (-1.50%)
Corn Futures Closed Double Digits Weaker

Going into the weekend, front month corn futures had given back 7 1/2 to 11 1/4 cents. December contracts closed the week with 3 up days vs. 2 lower, a range of 28 1/2 cents, but only a net 2 1/4 cent...

ZCU21 : 547-0s (-1.97%)
ZCPAUS.CM : 6.2158 (-1.67%)
ZCZ21 : 545-2s (-2.02%)
ZCZ21 : 545-2s (-2.02%)
ZCPZ21US.CM : 5.2360 (-2.05%)
Soybeans Weaken ahead of Weekend

Front month soy futures ended the Friday session with losses of 19 1/2 cents to 28 1/2 cents. November soybeans only had one red candle, but traded with a 55 1/2 cent range and a net loss of 2 1/2 cents...

ZSQ21 : 1414-6s (-1.36%)
ZSPAUS.CM : 13.8735 (-1.96%)
ZSU21 : 1355-4s (-2.15%)
ZSX21 : 1349-2s (-2.07%)
ZSPX21US.CM : 13.0441 (-2.16%)
Top Farmer Closing Commentary 07-30-2021

TFM Cash+ Take the Stress Out of Your Marketing Strategy. No hedge account. No margin calls. Just comprehensive, common-sense guidance at a great value. Learn more: https://www.totalfarmmarketing.com/tfm-cash-plus/...

Shootin' the Bull

Finishing off the week at the low from which the week started is perceived as bearish.  The oscillator on the weekly continuation chart closed below last week's reading. 

Livestock Report

End of month weakness for livestock markets

Closing Comments: Friday, July 30th, 2021

Cooler temperatures, light rain, and technical selling pressured the grain markets throughout the day. As global supply issues continue to be of concern, the wheat market spent today’s session bouncing...

Corn Prices Trading Lower through Midday

Front month corn prices are trading red ahead of the weekend. Prices are down 4 3/4 to 7 1/4 cents so far. NOAA’s updated 7-day QPF shows accumulation for Southern IA and MO accumulating to a pocket...

ZCU21 : 547-0s (-1.97%)
ZCPAUS.CM : 6.2158 (-1.67%)
ZCZ21 : 545-2s (-2.02%)
ZCZ21 : 545-2s (-2.02%)
ZCPZ21US.CM : 5.2360 (-2.05%)
Soybeans Down Double Digits

Soybean futures are trading with double digit losses of as much as 27 3/4 cents so far through Friday’s midday. Soymeal futures are also weaker at midday, with futures 0.76% to 0.93% lower. Front month...

ZSQ21 : 1414-6s (-1.36%)
ZSPAUS.CM : 13.8735 (-1.96%)
ZSU21 : 1355-4s (-2.15%)
ZSX21 : 1349-2s (-2.07%)
ZSPX21US.CM : 13.0441 (-2.16%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 645-0
2nd Resistance Point 645-0
1st Resistance Point 645-0
Last Price 645-0s
1st Support Level 645-0
2nd Support Level 645-0
3rd Support Level 645-0

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52-Week High 769-4
Fibonacci 61.8% 671-7
Last Price 645-0s
Fibonacci 50% 641-6
Fibonacci 38.2% 611-5
52-Week Low 514-0

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