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Spring Wheat Sep '23 (MWU23)

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Spring Wheat Futures Market News and Commentary

Wheat Bears Showing Up on Tuesday

The wheat complex is trading with contracts lower at midday. Chicago SRW contracts are 12 to 14 cents in the red. KC HRW futures are 10 to 12 cents lower in the front months at midday. MPLS spring wheat is down 9 to 10 cents across most contracts.

Weekly NASS Crop Progress data showed 86% of the US winter wheat crop harvested by Sunday, now matching the normal pace. The spring wheat crop was 98% headed, 1% ahead the 5-year average pace, with 5% of the crop harvested. Spring wheat conditions were up 2% at 55% gd/ex, with the Brugler500 index up 6 points higher to 348. Ratings in MT and SD were up 27 points, with ND down 7 and MN slipping 1 point,

Quarterly NASS Flower Milling data showed 222.28 mbu of wheat ground for flour from April to June, down just 0.65 mbu from last year and up 0.58 mbu from the previous quarter.

Export data released by Census this morning showed 1.473 MMT of exports in June, a 3 year low and 8.49% below the May total. 

A South Korean mi... 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 Ag
Point Value
$5,000
Margin/Maintenance
$2,310/2,100
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 Jul 28, 2026

View Chart Details
Commercials - Long / Short
48,657 (-1,552)
57,324 (+4,974)
Non-Commercials - Long / Short
21,020 (-1,765)
13,746 (-6,618)
Producers - Long / Short
43,929 (-1,912)
57,261 (+5,746)
Swap Dealers - Long / Short
4,665 (+496)
0 (-636)
Managed Money - Long / Short
19,398 (-2,021)
11,604 (-7,363)
Other Reportables - Long / Short
1,622 (+256)
2,142 (+745)
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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ZCZ26 : 465-4s (-1.48%)
ZCU26 : 442-2s (-1.56%)
ZCPZ26US.CM : 4.2995 (-1.80%)
ZCPAUS.CM : 4.1237 (-1.76%)
Wheat Bears Showing Up on Tuesday

The wheat complex is trading with contracts lower at midday. Chicago SRW contracts are 12 to 14 cents in the red. KC HRW futures are 10 to 12 cents lower in the front months at midday. MPLS spring wheat...

KEZ26 : 724-4s (-1.29%)
KEU26 : 707-0s (-1.43%)
MWU26 : 6.8450s (-1.51%)
ZWU26 : 638-4s (-1.92%)
ZWZ26 : 657-2s (-1.79%)
Soybeans Falling Back Lower on Tuesday

Soybeans are falling 18 to 20 cents across the board on Tuesday, pressured by weaker products, crude and a wetter forecast. The cmdtyView national average Cash Bean price is down 18 1/4 cents at $11.29....

ZSPAUS.CM : 11.3331 (-1.22%)
ZLZ26 : 67.52s (-0.91%)
ZMZ26 : 318.4s (-1.00%)
ZSPX26US.CM : 11.1808 (-1.26%)
ZSX26 : 1177-6s (-1.22%)
ZSQ26 : 1155-0s (-1.18%)
ZSU26 : 1158-6s (-1.28%)
Wheat Prices Are Heading Lower. Sell Here.

December soft red winter wheat futures present a selling opportunity on more price weakness.

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Pure Hedge - Livestock and Grain

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Soybeans Falling on Tuesday Morning

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ZSPAUS.CM : 11.3331 (-1.22%)
ZLZ26 : 67.52s (-0.91%)
ZMZ26 : 318.4s (-1.00%)
ZSPX26US.CM : 11.1808 (-1.26%)
ZSX26 : 1177-6s (-1.22%)
ZSQ26 : 1155-0s (-1.18%)
ZSU26 : 1158-6s (-1.28%)
Corn Slipping on Tuesday Morning Despite Rating Cut

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ZCZ26 : 465-4s (-1.48%)
ZCZ26 : 465-4s (-1.48%)
ZCU26 : 442-2s (-1.56%)
ZCPZ26US.CM : 4.2995 (-1.80%)
ZCPAUS.CM : 4.1237 (-1.76%)
Wheat Fading Back on Tuesday Morning

Wheat is showing 5 to 7 cent losses across the three markets on Tuesday morning. The wheat complex was higher at the final bell on Monday. Chicago SRW contracts were 10 to 12 1/4 cents higher at the close....

KEZ26 : 724-4s (-1.29%)
KEU26 : 707-0s (-1.43%)
MWU26 : 6.8450s (-1.51%)
ZWU26 : 638-4s (-1.92%)
ZWZ26 : 657-2s (-1.79%)

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

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