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Spring Wheat Jul '24 (MWN24)

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Spring Wheat Futures Market News and Commentary

Wheat Posts Losses Tuesday

The wheat complex saw double digit losses across the three exchanges. Chicago SRW futures were 12 to 13 cents lower on Tuesday. KC HRW futures posted 11 cent losses across the nearbys. MPLS spring wheat closed with 11 to 12 cent losses on Tuesday. Crude oil was down $8.38 on the day as the US began escorting vessels through the Strait of Hormuz, though they did bounce $8 off the low on reports that Iran was placing mines in the waterway.

USDA WASDE data from this morning showed no changes to the US balance sheet, as US stocks were left at 931 mbu. The US cash average price was raise by a nickel to $4.95. World ending stocks saw a 0.55 MMT cut to 276.96 MMT, as Argentina stocks were down 1 MMT on a higher export number. Russian exports were trimmed by 0.5 MMT, as well as a 1 MMT cut to EU exports (shifted to 1 MMT increase in feed). 

The state Crop Progress report from Kanas showed winter wheat conditions slipping another 2 percentage points to 56% gd/ex, with a Brugler50... Read more

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
$1,650/1,500
First Notice Date
06/28/24
Expiration Date
07/12/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Mar 3, 2026

View Chart Details
Commercials - Long / Short
31,379 (-4,582)
38,543 (+6,803)
Non-Commercials - Long / Short
23,704 (+4,256)
16,734 (-7,059)
Producers - Long / Short
29,205 (-4,325)
36,525 (+7,788)
Swap Dealers - Long / Short
1,774 (-181)
1,618 (-909)
Managed Money - Long / Short
19,328 (+6,422)
15,365 (-7,413)
Other Reportables - Long / Short
4,376 (-2,166)
1,369 (+354)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
594-0 +4.55%
on 06/26/24
675-6 -8.10%
on 06/13/24
-47-2 (-7.07%)
since 06/12/24
3-Month
594-0 +4.55%
on 06/26/24
767-6 -19.11%
on 05/28/24
-29-0 (-4.46%)
since 04/12/24
52-Week
594-0 +4.55%
on 06/26/24
919-0 -32.43%
on 07/25/23
-218-0 (-25.98%)
since 07/12/23

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Wheat Posts Losses Tuesday

The wheat complex saw double digit losses across the three exchanges. Chicago SRW futures were 12 to 13 cents lower on Tuesday. KC HRW futures posted 11 cent losses across the nearbys. MPLS spring wheat...

KEK26 : 608-6s (-1.77%)
KEH26 : 596-6s (-1.81%)
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WASDE

WASDE - 2026-03-10

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Wheat Falling Back on Tuesday

The wheat complex is trading with losses across the three exchanges. Chicago SRW futures are down 11 to 15 cents in the nearbys. KC HRW futures are 13 to 15 cents in the red so far. MPLS spring wheat is...

KEK26 : 608-6s (-1.77%)
KEH26 : 596-6s (-1.81%)
MWH26 : 6.2225s (-1.93%)
ZWH26 : 584-6s (-2.22%)
ZWK26 : 591-0s (-2.03%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 621-0
2nd Resistance Point 621-0
1st Resistance Point 621-0
Last Price 621-0s
1st Support Level 621-0
2nd Support Level 621-0
3rd Support Level 621-0

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52-Week High 919-0
Fibonacci 61.8% 794-7
Fibonacci 50% 756-4
Fibonacci 38.2% 718-1
Last Price 621-0s
52-Week Low 594-0

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