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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 Longs Retreat on Thursday

The wheat complex was under pressure with the rest of the grains on Thursday, as the Trump/Xi meeting yielded very few headlines for any potential ag purchases. Chicago SRW futures were down 11 3/4 to 18 cents in the front months. KC HRW futures were leading the charge, with 11 1/4 to 20 cent losses. MPLS spring wheat was 15 3/4 to 17 3/4 cents lower on Thursday. May expired today. 

The Kansas Wheat Quality Tour was completed on Thursday, with an average yield of 38.9 bpa. That was the lowest average yield for the tour since 2023, and the second lowest since 2018. The production total was 218 mbu, which compares to the 214 mbu from USDA on Tuesday.

USDA’s Export Sales report from this morning showed 133,485 MT in old crop wheat sales. That was back up from last week and well above the same week last year. Indonesia was the buyer of 70,000 MT, with the Philippines buying 56,000 MT. Sales for new crop were seen at 221,143 MT. That was the second largest total for the marke... 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
$1,980/1,800
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 May 5, 2026

View Chart Details
Commercials - Long / Short
108,201 (+407)
123,779 (+2,366)
Non-Commercials - Long / Short
80,681 (+3,923)
66,310 (+2,192)
Producers - Long / Short
23,582 (-341)
113,150 (+291)
Swap Dealers - Long / Short
82,179 (+604)
8,189 (+1,931)
Managed Money - Long / Short
76,005 (+4,434)
38,024 (-2,298)
Other Reportables - Long / Short
4,676 (-511)
28,286 (+4,490)
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

More Hard Red Winter Wheat Quotes

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Most Recent Stories

More News
Wheat Longs Retreat on Thursday

The wheat complex was under pressure with the rest of the grains on Thursday, as the Trump/Xi meeting yielded very few headlines for any potential ag purchases. Chicago SRW futures were down 11 3/4 to...

KEU26 : 710-6 (-0.73%)
KEN26 : 700-4 (-0.67%)
MWN26 : 7.0100 (-0.21%)
ZWN26 : 655-6 (-0.34%)
ZWU26 : 669-2 (-0.37%)
Corn Falls Back on Thursday

Corn futures were down 9 to 15 cents in the front months on Thursday, falling with the rest of the grain complex as very few details were announced out of the Trump/Xi meeting. May futures expired today....

ZCZ26 : 490-0 (-0.25%)
ZCU26 : 473-0 (-0.26%)
ZCN26 : 466-0 (-0.32%)
ZCPZ26US.CM : 4.5331 (-2.51%)
ZCPAUS.CM : 4.2691 (-2.97%)
Soybeans Collapse Following Little News Out of Trump/Xi Meeting

Soybeans posted 20 to 40 ¾ cent losses across most contracts on Thursday. The cmdtyView national average Cash Bean price was down 36 cents at $11.28. Soymeal futures were back down $3.90 to $6, with Soy...

ZSPAUS.CM : 11.2805 (-3.08%)
ZLN26 : 73.93 (+0.37%)
ZMN26 : 330.4 (-0.63%)
ZSPX26US.CM : 11.1685 (-2.13%)
ZSX26 : 1178-4 (-0.42%)
ZSN26 : 1188-2 (-0.36%)
ZSQ26 : 1185-4 (-0.36%)
Pure Hedge - Livestock and Grain

Selling in the Grains Could Be the New Theme - Cattle Markets Take a Breath as 265 Traded in the Cash Market Yesterday

DEC-MAR SOYBEAN OIL SPREAD (ZLZ26-ZLH27) - WALSH PURE SPREADER

WALSH PURE SPREADER - Pure Hedge Division

Shootin' the Bull about a Two-Headed top

I anticipate feeder cattle to trade down to the lows made in mid-March per respective contract month.

Corn Facing Thursday Pressure

Corn futures are trading with 13 to 15 cent losses in the front months on Thursday. There were 17 deliveries against May futures overnight, with the contract expiring today. The CmdtyView national average...

ZCZ26 : 490-0 (-0.25%)
ZCU26 : 473-0 (-0.26%)
ZCN26 : 466-0 (-0.32%)
ZCPZ26US.CM : 4.5331 (-2.51%)
ZCPAUS.CM : 4.2691 (-2.97%)
Soybeans Collapsing Following Trump/Xi Meeting

Soybeans are trading with 30 to 44 cent losses in most contracts on Thursday. The cmdtyView national average Cash Bean price is down 44 cents at $11.20. Soymeal futures are back down $7.20, with Soy Oil...

ZSPAUS.CM : 11.2805 (-3.08%)
ZLN26 : 73.93 (+0.37%)
ZMN26 : 330.4 (-0.63%)
ZSPX26US.CM : 11.1685 (-2.13%)
ZSX26 : 1178-4 (-0.42%)
ZSN26 : 1188-2 (-0.36%)
ZSQ26 : 1185-4 (-0.36%)
Wheat Falling at Midday

The wheat complex is facing pressure on Thursday’s midday. Chicago SRW futures are down 18 to 29 cents in the front months. KC HRW futures are leading the charge, with 20 to 22 cent losses. MPLS spring...

KEU26 : 710-6 (-0.73%)
KEN26 : 700-4 (-0.67%)
MWN26 : 7.0100 (-0.21%)
ZWN26 : 655-6 (-0.34%)
ZWU26 : 669-2 (-0.37%)
Soybeans Technicals: Confirming the Double Top

We analyze the rumoured double top in soybean prices. Canadian grain marketers should wait for a confirmed neckline break before acting on the charts.

ZSN26 : 1188-2 (-0.36%)

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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