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Wheat May '24 (ZWK24)

657-0s -13-2 (-1.98%) 05/14/24 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Overview for Tue, May 14th, 2024
Day Low
657-0
Day High
657-0
Open 0-0
Previous Close 670-2 670-2
Volume 19 19
Open Interest 35 35
Stochastic %K 94.21% 94.21%
Weighted Alpha +3.92 +3.92
5-Day Change +32-2 (+5.16%) +32-2 (+5.16%)
52-Week Range 523-4 - 808-6 523-4 - 808-6
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Wheat Futures Market News and Commentary

Wheat Eases Lower into the Holiday

The wheat complex posted losses across most contracts on Thursday.  Chicago SRW wheat fell 7 to 9 cents on to round out the week on Thursday, with September rallying 16 cents on the short week.  KC HRW contracts closed Thursday with losses of 4 to 7 cents, as September was up just 2 ¼ cents on the week. MPLS spring wheat slipped back on Thursday, down 1 to 2 cents, with September up 19 ¼ cents this week. The markets will be closed on Friday for Independence Day, with the open set for Sunday night. 

USDA released their weekly Export Sales report this morning, with 2025/26 wheat sales totaling 585,989 MT in the week ending on June 26. That was on the high side of a Reuters survey of traders looking for between 200,000 and 600,000 MT. That was a MY high and more than double the previous week. The Philippines was the largest buyer of 162,000 MT, with 60,000 MT sold to Thailand. 

Census data was released this morning, showing 2.16 MMT (79.4 mbu) of wheat exported in May. That... Read more

Contract Specifications

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Contract
Chicago Soft 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
$1,815/1,650
First Notice Date
04/30/24
Expiration Date
05/14/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jun 24, 2025

View Chart Details
Commercials - Long / Short
151,403 (-9,525)
75,573 (+898)
Non-Commercials - Long / Short
96,882 (-10,489)
168,074 (-23,879)
Producers - Long / Short
71,677 (-6,303)
56,628 (+2,032)
Swap Dealers - Long / Short
67,847 (-2,262)
7,066 (-174)
Managed Money - Long / Short
70,748 (-8,426)
134,616 (-18,814)
Other Reportables - Long / Short
26,134 (-2,063)
33,458 (-5,065)
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Price Performance

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Period Period Low Period High Performance
1-Month
534-2 +22.98%
on 04/18/24
Period Open: 556-0
671-0 -2.09%
on 05/13/24
+101-0 (+18.17%)
since 04/12/24
3-Month
523-4 +25.50%
on 03/11/24
Period Open: 583-0
671-0 -2.09%
on 05/13/24
+74-0 (+12.69%)
since 02/14/24
52-Week
523-4 +25.50%
on 03/11/24
Period Open: 682-4
808-6 -18.76%
on 07/25/23
-25-4 (-3.74%)
since 05/12/23

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 657-0
2nd Resistance Point 657-0
1st Resistance Point 657-0
Last Price 657-0s
1st Support Level 657-0
2nd Support Level 657-0
3rd Support Level 657-0

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52-Week High 808-6
Fibonacci 61.8% 699-6
Fibonacci 50% 666-1
Last Price 657-0s
Fibonacci 38.2% 632-4
52-Week Low 523-4

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