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Hard Red Wheat Mar '24 (KEH24)
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Hard Red Wheat Futures Market News and Commentary

Wheats Faded into the Weekend

After a week of buying into the data release and seeing a mostly bull-friendly update, wheat futures pulled back into the weekend. Chicago futures went home 9 to 11 cents in the red, but still 29 cents above last Friday’s close. KC HRW futures settled with 3 to 6 ½ cent losses on the day, but held onto a 14 cent gain for the week. Spring wheat futures closed 7 ¾ to 8 ¼ cents in the red. March HRS finished the week with a net ¾ cent loss. The cash average price for wheat from the WASDE report was a dime higher at $7.30. 

Commitment of Traders data showed SRW wheat spec traders closed out 21k shorts, reducing their net short to 96,222 contracts. Managed money traders also covered shorts in KC wheat, leaving the group on a 38,858 contract net short as of 12/5. Managed funds were shown with a 26,891 contract net short for MPLS wheat, 2k contracts weaker also via short covering. 

USDA reported China booked another 110k MT of SRW via private export sale. 

USDA’s December... Read more

Contract Specifications

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Contract
KC Hard 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
KCBT
Point Value
$50
Margin/Maintenance
$2,860/2,600
First Notice Date
02/29/24 (81 days)
Expiration Date
03/14/24 (95 days)

Seasonal Chart

Hard Red Wheat Mar '24
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Dec 5, 2023

View Chart Details
Commercials - Long / Short
80,755 (-7,214)
55,786 (+4,446)
Non-Commercials - Long / Short
59,129 (-673)
82,654 (-11,583)
Producers - Long / Short
29,127 (-9,097)
40,948 (+2,476)
Swap Dealers - Long / Short
39,604 (-924)
2,814 (-837)
Managed Money - Long / Short
39,372 (+200)
77,751 (-11,087)
Other Reportables - Long / Short
19,757 (-873)
4,903 (-496)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
595-0 +11.09%
on 11/28/23
677-4 -2.44%
on 12/06/23
-3-4 (-0.53%)
since 11/08/23
3-Month
595-0 +11.09%
on 11/28/23
752-6 -12.19%
on 09/15/23
-74-4 (-10.13%)
since 09/08/23
52-Week
595-0 +11.09%
on 11/28/23
929-0 -28.85%
on 07/25/23
-176-6 (-21.10%)
since 12/08/22

More Hard Red Wheat Quotes

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ZCPAUS.CM : 4.5496 (-0.52%)
ZCH24 : 485-4s (-0.51%)
ZCK24 : 497-4s (-0.40%)
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Wheats Faded into the Weekend

After a week of buying into the data release and seeing a mostly bull-friendly update, wheat futures pulled back into the weekend. Chicago futures went home 9 to 11 cents in the red, but still 29 cents...

ZWZ23 : 615-0s (-1.76%)
ZWH24 : 631-6s (-1.63%)
KEZ23 : 655-6s (-0.98%)
MWZ23 : 712-6s (unch)
Grain Spreads: Beans Holding in the Teens

Weak Bean Close Examined

Shootin' the Bull about good demand

In my opinion, cattle feeders got busy this week procuring inventory at the best basis spread of the year.  Not only that, I have heard of light weight cattle being gobbled up for wheat pastures and the...

Wheat Selling the Fact on Report Day

After a mostly bull friendly report, the wheat market is trading in the red through Friday’s midday. Chicago futures are down by double digits for midday, with 5 ½ cent losses in the KC wheat market....

ZWZ23 : 615-0s (-1.76%)
ZWH24 : 631-6s (-1.63%)
KEZ23 : 655-6s (-0.98%)
MWZ23 : 712-6s (unch)
Beans Fade Initial Report Rally

Soybeans rallied out of the report initially, but gave it all back and then some for midday quotes 4 ¼ to 5 ¾ cents in the red. Soymeal is trading $1.60 to $1.70 weaker so far after the data. Midday...

ZMF24 : 404.7s (-0.52%)
ZLF24 : 50.20s (-1.82%)
ZSF24 : 1304-0s (-0.59%)
ZSPAUS.CM : 12.4837 (-0.59%)
ZSH24 : 1323-0s (-0.55%)
ZSK24 : 1337-2s (-0.52%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 689-1
2nd Resistance Point 682-3
1st Resistance Point 671-5
Last Price 661-0s
1st Support Level 654-1
2nd Support Level 647-3
3rd Support Level 636-5

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52-Week High 929-0
Fibonacci 61.8% 801-3
Fibonacci 50% 762-0
Fibonacci 38.2% 722-5
Last Price 661-0s
52-Week Low 595-0

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