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Hard Red Winter Wheat Dec '26 (KEZ26)

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Hard Red Winter Wheat Futures Market News and Commentary

Wheat Posts Thursday Rally

The wheat complex posted gains across the three markets on Thursday. Chicago SRW futures closed 7 to 9 cents higher in the front months. KC HRW futures were 7 to 9 cents in the green on the day. MPLS spring wheat was up 4 to 6 cents at the close. 

Export Sales data from this morning showed 373,877 MT of wheat sold in the week of January 29. That was down 33.02% from the previous week and 14.81% below the same week last year. The largest buyer was the Philippines, with 89,200 MT sold to Taiwan, and 67,900 MT to Mexico. Another 41,000 MT was sold for 2026/27.

Large world supplies continue to weigh on the market. Russia’s 2025 wheat crop totaled 93 MMT according to the country’s data, including Russian held territories of Ukraine. Area for 2026 is expected to total 83 MMT.

Mar 26 CBOT Wheat  closed at $5.35 1/4, up 8 1/2 cents,

May 26 CBOT Wheat  closed at $5.44, up 7 3/4 cents,

Mar 26 KCBT Wheat  closed at $5.38 1/2, up 8 1/4 cents,

May 26 KCBT Whea... 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
$1,760/1,600
First Notice Date
11/30/26 (298 days)
Expiration Date
12/14/26 (312 days)

Seasonal Chart

Hard Red Winter Wheat Dec '26
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Jan 27, 2026

View Chart Details
Commercials - Long / Short
130,817 (+1,707)
123,022 (+5,273)
Non-Commercials - Long / Short
79,923 (-2,367)
83,089 (-3,931)
Producers - Long / Short
41,896 (+680)
105,491 (+4,495)
Swap Dealers - Long / Short
75,364 (-41)
3,974 (-290)
Managed Money - Long / Short
63,868 (+518)
72,762 (-3,601)
Other Reportables - Long / Short
16,055 (-2,885)
10,327 (-330)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
575-6 +3.78%
on 01/15/26
607-2 -1.61%
on 01/30/26
+17-2 (+2.97%)
since 01/06/26
3-Month
564-0 +5.94%
on 12/17/25
607-2 -1.61%
on 01/30/26
+5-6 (+0.97%)
since 11/06/25
52-Week
562-4 +6.22%
on 10/14/25
682-2 -12.42%
on 03/24/25
-70-0 (-10.49%)
since 02/06/25

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Corn futures closed the Thursday session with contracts 5 to 6 cents lower. The CmdtyView national average Cash Corn price was up 5 1/2 cents at $4.02 3/4. Continued strength in soybeans and meal are spilled...

ZCZ25 : 431-4s (-0.86%)
ZCK26 : 442-0 (-0.23%)
ZCH26 : 434-2 (-0.17%)
ZCPAUS.CM : 4.0170 (+1.37%)
Wheat Posts Thursday Rally

The wheat complex posted gains across the three markets on Thursday. Chicago SRW futures closed 7 to 9 cents higher in the front months. KC HRW futures were 7 to 9 cents in the green on the day. MPLS spring...

KEK26 : 548-4 (-0.36%)
KEH26 : 536-6 (-0.32%)
MWH26 : 5.6875 (-0.48%)
ZWH26 : 533-0 (-0.42%)
ZWK26 : 542-0 (-0.37%)
Soybean Rally Continues on Thursday

Soybeans closed 18 to 21 ¼ cents higher on Thursday, with new crop contracts up 7 to 11 cents. The cmdtyView national average Cash Bean price was 20 cents higher at $10.47. Soymeal futures are $5 to $7.00...

ZSPAUS.CM : 10.4695 (+1.96%)
ZLH26 : 55.49 (-0.29%)
ZMH26 : 301.3 (-0.63%)
ZSX25 : 1112-6s (-1.70%)
ZSH26 : 1107-2 (-0.45%)
ZSK26 : 1121-6 (-0.38%)
Walsh Cattle Opportunities - Pure Hedge Division

Low Cost Options, With Limited Risk

Shootin' the Bull about basis

Basis was destroyed at the opening this morning, pushing all futures contracts into a positive basis and widened the backend out significantly.

Corn Posting Midday Thursday Gains

Corn futures are trading with 5 to 5 ½ cents in the front months on Thursday, with new crop December up 3 cents. The CmdtyView national average Cash Corn price is up 5 cents at $4.01 1/4. Continued strength...

ZCZ25 : 431-4s (-0.86%)
ZCK26 : 442-0 (-0.23%)
ZCH26 : 434-2 (-0.17%)
ZCPAUS.CM : 4.0170 (+1.37%)
Soybean Rally Extending to Thursday’s Midday

Soybeans are trading with 15 to 17 cent gains in the front months on Thursday, with new crop November up 8 ¼ cents. The cmdtyView national average Cash Bean price is 15 3/4 cents higher at $10.43 3/4....

ZSPAUS.CM : 10.4695 (+1.96%)
ZLH26 : 55.49 (-0.29%)
ZMH26 : 301.3 (-0.63%)
ZSX25 : 1112-6s (-1.70%)
ZSH26 : 1107-2 (-0.45%)
ZSK26 : 1121-6 (-0.38%)
Wheat Bulls Catching Up on The Grain Rally

The wheat complex is trading with gains across the three markets on Thursday. Chicago SRW futures are 8 to 9 cents higher in the front months. KC HRW futures are 7 to 8 cents in the green at midday. MPLS...

KEK26 : 548-4 (-0.36%)
KEH26 : 536-6 (-0.32%)
MWH26 : 5.6875 (-0.48%)
ZWH26 : 533-0 (-0.42%)
ZWK26 : 542-0 (-0.37%)
How Much Higher Can Soybean Prices Go After Positive Trump-Xi Talks?

May soybean futures present a buying opportunity on more price strength.

ZSK26 : 1121-6 (-0.38%)
Will Outside Market Flows Trickle into Livestock Markets?

There’s been a broader unwind across multiple asset classes over the last week. Ag markets have mostly shrugged it off. Will the eventually take notice?

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 614-3
2nd Resistance Point 607-1
1st Resistance Point 603-3
Last Price 597-4
1st Support Level 592-3
2nd Support Level 585-1
3rd Support Level 581-3

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52-Week High 682-2
Fibonacci 61.8% 636-4
Fibonacci 50% 622-3
Fibonacci 38.2% 608-2
Last Price 597-4
52-Week Low 562-4

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