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Spring Wheat Sep '23 (MWU23)

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Spring Wheat Futures Market News and Commentary

Wheat Slipping Back on Wednesday’s Midday

The wheat complex is showing a modest correction on Wednesday following the Tuesday limit gains. Chicago SRW is down 1 to 2 cents at midday. KC HRW futures are 2 to 4 cents in the red so far. MPLS spring wheat is slipping back with fractional losses in the front months.

The USDA Crop Production report from Tuesday showed winter wheat production at 1.048 bbu, which was well below estimates of 1.211 bbu, with all wheat production was 1.561 bbu. That tightened the expected new crop carryout total to 762 mbu, compared to estimates of 845 mbu. 

The first day (northern KS) of the Kansas Wheat Quality Tour showed an average of 38.3 bpa yield, the lowest day 1 total for the tour since 2023 and below the 50.5 bpa last year. Day 2 is in the Central and southwest part of the state.   

USDA’s Export Sales report will be out on Thursday morning with analysts looking for 2025/26 sales in a range of 50,000-150,000 MT. Sales for new crop are seen in a range of 100,000 MT to 350,00... 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
$1,925/1,750
First Notice Date
08/31/23
Expiration Date
09/14/23 (expired)

Seasonal Chart

Spring Wheat Sep '23
Average Price Chart for 5 Prior Sep Contracts

Commitment of Traders Positions as of May 5, 2026

View Chart Details
Commercials - Long / Short
32,165 (+1,264)
65,629 (+2,799)
Non-Commercials - Long / Short
37,655 (+1,253)
4,276 (+743)
Producers - Long / Short
27,655 (+1,151)
65,628 (+3,006)
Swap Dealers - Long / Short
4,509 (+320)
0 (unch)
Managed Money - Long / Short
31,532 (+1,484)
2,461 (+79)
Other Reportables - Long / Short
6,123 (-231)
1,815 (+664)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
732-4 +2.76%
on 09/05/23
805-2 -6.52%
on 08/15/23
-52-6 (-6.55%)
since 08/14/23
3-Month
732-4 +2.76%
on 09/05/23
947-6 -20.58%
on 07/25/23
-55-0 (-6.81%)
since 06/14/23
52-Week
732-4 +2.76%
on 09/05/23
981-0 -23.27%
on 10/10/22
-168-2 (-18.27%)
since 09/14/22

More Spring Wheat Quotes

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Wheat Slipping Back on Wednesday’s Midday

The wheat complex is showing a modest correction on Wednesday following the Tuesday limit gains. Chicago SRW is down 1 to 2 cents at midday. KC HRW futures are 2 to 4 cents in the red so far. MPLS spring...

KEN26 : 728-0 (-0.44%)
KEK26 : 720-4s (+6.98%)
MWK26 : 7.1525s (+5.53%)
ZWK26 : 668-6 (+0.56%)
ZWN26 : 679-0 (unch)
Wheat Trading Mixed on Wednesday Morning

Wheat is trading mixed on Wednesday morning, with Chicago on a weaker note, The wheat complex was in rally mode on Tuesday, hitting the limit in a few contracts. Chicago SRW was up as little as 13 ½ cents...

KEN26 : 728-0 (-0.44%)
KEK26 : 720-4s (+6.98%)
MWK26 : 7.1525s (+5.53%)
ZWK26 : 668-6 (+0.56%)
ZWN26 : 679-0 (unch)
Soybeans Pushing Higher Ahead of Trump/Xi Visit

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ZSX26 : 1210-6 (+0.48%)
ZSK26 : 1221-2 (+0.64%)
ZSN26 : 1232-2 (+0.45%)
Corn Slipping Back Early on Wednesday

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U.S. and global wheat production projections down for 2026/2027

I am Stephen Davis, senior market strategist at Walsh Trading, Inc., Chicago, Illinois. You can reach me at 312-878-2391. The forecast for 2026/27 United States winter wheat is down 25 percent from last...

Wheat Rallies the Limit on Tuesday as USDA Releases Production Updates

The wheat complex was in rally mode on Tuesday, hitting the limit in a few contracts. Chicago SRW was up as little as 13 ½ cents in the deferreds to the 45 cent limit in July. KC HRW futures rallied from...

KEN26 : 728-0 (-0.44%)
KEK26 : 720-4s (+6.98%)
MWK26 : 7.1525s (+5.53%)
ZWK26 : 668-6 (+0.56%)
ZWN26 : 679-0 (unch)
Corn Posts Gains on Tuesday

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ZCPAUS.CM : 4.4219 (+0.75%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 753-1
2nd Resistance Point 753-1
1st Resistance Point 752-7
Last Price 752-6s
1st Support Level 752-5
2nd Support Level 752-5
3rd Support Level 752-3

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52-Week High 981-0
Fibonacci 61.8% 886-1
Fibonacci 50% 856-6
Fibonacci 38.2% 827-3
Last Price 752-6s
52-Week Low 732-4

See More

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