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Hard Red Wheat Jul '21 (KEN21)

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Hard Red Wheat Futures Market News and Commentary

Wheat Off Highs but Still in Black

Wheat futures closed the Tuesday session in the black after an afternoon pullback. CBT SRW futures ended the session 0.28% to 0.43% higher, led by Dec. KC wheat futures were 5 to 6 cents in the black, with July closing 1.02% higher. MGE spring wheat ended Tuesday up by 4 1/2 to 6 1/4 cents.

The KC wheat to corn spread ended the session with a 4 3/4 cent premium for wheat. However cmdtyView cash data suggest the cash spread favors corn by 12 3/4 cents. For new crop the board spread favors wheat by 94 3/4 cents and 90 cents on the cash side.

Russia’s formula based export tax takes effect on June 2. Russian wheat FOB offers are ~$247/MT but were mostly $280-$285 from Jan-March. For comparative purposes France prices are $256/MT and US is $235/MT (12.5% pro).

Cash SRW Wheat  was $6.02 1/4, up 1 3/4 cents,

May 21 CBOT Wheat  closed at $6.29 3/4, up 1 3/4 cents,

Jul 21 CBOT Wheat  closed at $6.33 1/2, up 2 1/4 cents,

Cash HRW Whe... 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
$2,035/1,850
First Notice Date
06/30/21 (78 days)
Expiration Date
07/14/21 (92 days)

Seasonal Chart

Hard Red Wheat Jul '21
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Apr 6, 2021

View Chart Details
Commercials - Long / Short
97,079 (+4,675)
108,638 (-1,099)
Non-Commercials - Long / Short
64,531 (-609)
51,977 (+6,100)
Producers - Long / Short
40,341 (+5,353)
93,499 (-785)
Swap Dealers - Long / Short
52,277 (-590)
10,678 (-226)
Managed Money - Long / Short
51,209 (-1,445)
37,274 (+5,805)
Other Reportables - Long / Short
13,322 (+836)
14,703 (+295)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
559-4 +6.61%
on 03/31/21
613-4 -2.77%
on 03/17/21
-12-2 (-2.01%)
since 03/12/21
3-Month
559-4 +6.61%
on 03/31/21
667-0 -10.57%
on 02/24/21
-44-2 (-6.91%)
since 01/14/21
52-Week
449-6 +32.63%
on 08/07/20
667-0 -10.57%
on 02/24/21
+74-4 (+14.27%)
since 04/14/20

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Most Recent Stories

More News
Wheat Off Highs but Still in Black

Wheat futures closed the Tuesday session in the black after an afternoon pullback. CBT SRW futures ended the session 0.28% to 0.43% higher, led by Dec. KC wheat futures were 5 to 6 cents in the black,...

ZWPAES.CM : 6.0224 (+0.29%)
ZWN21 : 637-0 (+0.55%)
KEPAWS.CM : 5.5353 (+1.13%)
KEN21 : 595-6 (+0.51%)
Corn Higher on Turnaround Tuesday

Front month corn futures closed the Tuesday session with old crop gains of 10 to 11 cents. Basis continues strengthening as well, as cmdtyView data shows the national average spot basis is about a dime...

ZCPAUS.CM : 5.6936 (+2.01%)
ZCZ21 : 505-4 (+0.25%)
ZCPZ21US.CM : 4.7674 (+1.65%)
Beans Higher on Mixed Soy Trades

Soybean futures closed the Turnaround Tuesday session with gains of a penny to 7 1/2 cents. The national average soybean basis from cmdtyView is 22 1/4 cents under May futures. Since the turn of the calendar...

ZSPAUS.CM : 13.6732 (+0.59%)
ZSX21 : 1252-2 (+0.08%)
ZSPX21US.CM : 12.0136 (+0.09%)
Tech Talk: Corn, Soybeans, and Live Cattle (4.13.21)

Oliver Sloup on the most recent action in the ag markets as market participants start to eye the psychological $6 mark in corn. Have live cattle futures topped out, or is this just a healthy correction?...

Wheat - Just My Opinion

Chgo & KC Wheat Spinning Their Wheels

Corn Back Up Double Digits

Turnaround Tuesday has futures rallying. Old crop futures are 11 3/4 cents to 12 cents higher so far. Basis continues strengthening as well, as cmdtyView data shows the national average spot basis is about...

ZCPAUS.CM : 5.6936 (+2.01%)
ZCZ21 : 505-4 (+0.25%)
ZCPZ21US.CM : 4.7674 (+1.65%)
Beans Recovering at Midday

Soybean futures are clawing back some of Monday’s drops. Futures are 7 3/4 to 11 3/4 cents higher. The national average soybean basis from cmdtyView is 22 1/2 cents under May futures. Since the turn...

ZSPAUS.CM : 13.6732 (+0.59%)
ZSX21 : 1252-2 (+0.08%)
ZSPX21US.CM : 12.0136 (+0.09%)
Wheat Back Up on Tuesday

The Tuesday wheat complex is in the black at midday. CBT wheat futures are 4 1/4 to 5 3/4 cents in the black. KC HRW wheat futures are trading 6 1/4 to 7 1/4 cents higher so far. Spring wheat prices are...

ZWPAES.CM : 6.0224 (+0.29%)
ZWN21 : 637-0 (+0.55%)
KEPAWS.CM : 5.5353 (+1.13%)
KEN21 : 595-6 (+0.51%)
Corn Futures Unwind Some Monday Selling

Corn reversed direction overnight, with futures 1 to 4 higher this morning. On Monday corn sustained old crop losses of 6 3/4 to 8 1/4 cents. New crop prices were firmer as Dec closed UNCH and the others...

ZCPAUS.CM : 5.6936 (+2.01%)
ZCZ21 : 505-4 (+0.25%)
ZCPZ21US.CM : 4.7674 (+1.65%)
Wheat Mixed, As HRW Lags

Wheat futures are mixed to begin the Tuesday session. Domestic wheat futures closed the Monday session off their lows, but still in the red. CBT SRW prices ended the session 8 to 10 3/4 cents lower with...

ZWPAES.CM : 6.0224 (+0.29%)
ZWN21 : 637-0 (+0.55%)
KEPAWS.CM : 5.5353 (+1.13%)
KEN21 : 595-6 (+0.51%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 607-3
2nd Resistance Point 601-1
1st Resistance Point 596-7
Last Price 595-6
1st Support Level 586-3
2nd Support Level 580-1
3rd Support Level 575-7

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52-Week High 667-0
Last Price 595-6
Fibonacci 61.8% 584-0
Fibonacci 50% 558-3
Fibonacci 38.2% 532-6
52-Week Low 449-6

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