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Spring Wheat May '24 (MWK24)

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Spring Wheat Futures Market News and Commentary

Wheat Holding onto Tuesday Gains as Crop Conditions Drop

The wheat market is trading with contracts mostly higher at midday on Tuesday. Chicago SRW futures are 5 to 6 cents higher at midday. KC HRW futures are up 4 to 5 cents so far on the day. MPLS spring wheat is showing fractionally mixed action at midday.

Crop Progress data showed the US spring wheat crop at 73% planted, now 7 percentage points ahead of the 5-year average pace of 66%. Montana and Washington were the only state to be reported below normal planting pace. Emergence was pegged at 39%.

The winter wheat crop was at 71% headed, which was 13 percentage points head of normal. Condition ratings were down 1% to 27% gd/ex. The Brugler500 index was down 6 points to 271. Conditions in KS and CO were down 12 points, with MS dropping 8 points and TX down 11 points, as an average of the major HRW states were down another 7 points to 220. The average of major SRW states was up 1 point to 359 on the Brugerl500 index, as white wheat states saw a 1 point increase to 383.

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Contract Specifications

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Contract
Hard Red Spring Wheat
Contract Size
5,000 bushels
Tick Size
0.0025 dollars per bushel ($12.50 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Sun-Fri) CST
Exchange
MIAX
Point Value
$5,000
Margin/Maintenance
$2,310/2,100
First Notice Date
04/30/24
Expiration Date
05/14/24 (expired)

Seasonal Chart

Spring Wheat May '24
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of May 12, 2026

View Chart Details
Commercials - Long / Short
35,658 (+3,493)
68,504 (+2,875)
Non-Commercials - Long / Short
38,137 (+482)
5,831 (+1,555)
Producers - Long / Short
30,518 (+2,863)
68,504 (+2,876)
Swap Dealers - Long / Short
5,140 (+631)
0 (unch)
Managed Money - Long / Short
31,756 (+224)
4,447 (+1,986)
Other Reportables - Long / Short
6,381 (+258)
1,384 (-431)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
632-6 +15.25%
on 04/17/24
745-0 -2.11%
on 05/13/24
+86-4 (+13.46%)
since 04/12/24
3-Month
625-2 +16.63%
on 04/03/24
745-0 -2.11%
on 05/13/24
+65-4 (+9.87%)
since 02/14/24
52-Week
625-2 +16.63%
on 04/03/24
941-4 -22.54%
on 07/25/23
-119-4 (-14.08%)
since 05/12/23

More Spring Wheat Quotes

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Wheat Holding onto Tuesday Gains as Crop Conditions Drop

The wheat market is trading with contracts mostly higher at midday on Tuesday. Chicago SRW futures are 5 to 6 cents higher at midday. KC HRW futures are up 4 to 5 cents so far on the day. MPLS spring wheat...

KEU26 : 714-0s (+0.04%)
KEN26 : 703-6s (unch)
MWN26 : 6.9650s (-0.96%)
ZWN26 : 667-2s (+0.41%)
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Wheat is showing 4 to 7 cent gains early on Tuesday. The wheat market was sharply higher across all three exchanges on Monday, following a White House fact sheet release over the weekend. Chicago SRW futures...

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ZSN26 : 1209-4s (-0.29%)
DBA : 28.28 (+0.28%)
SOYB : 25.27 (+0.40%)
CORN : 18.74 (unch)
ZWN26 : 667-2s (+0.41%)
WEAT : 25.20 (+0.80%)
ZCN26 : 475-2s (-0.37%)
TAGS : 25.77 (+0.52%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 729-2
2nd Resistance Point 729-2
1st Resistance Point 729-2
Last Price 729-2s
1st Support Level 729-2
2nd Support Level 729-2
3rd Support Level 729-2

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52-Week High 941-4
Fibonacci 61.8% 820-6
Fibonacci 50% 783-3
Fibonacci 38.2% 746-0
Last Price 729-2s
52-Week Low 625-2

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