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Hard Red Wheat Mar '23 (KEH23)

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Hard Red Wheat Futures Market News and Commentary

Wheat Sees Spread Trading on Friday

SRW futures closed the last trade day of the week with 1 3/4 to 2 3/4 cent losses. The hard red wheats extended their premiums as KC rallied 1 3/4 to 5 cents on the day and MPLS gained 1 1/2 to 3 1/2 cents. HRW is now a $1.19 1/4 premium to SRW in the March contract and a 93 1/4 cent premium for new crop. MPLS spring wheat went home at a 52 1/4 cent premium to the March HRW price. 

CFTC’s weekly Commitment of Traders report showed Chicago wheat specs were selling 8.4k contracts short through the week that ended 11/24. That expanded the group’s net short to 73,933 contracts – the most since 2018 when the group peaked at 83,502 contracts net short. In KC wheat, the weekly update showed the funds were 459 contracts less net short as of Tuesday, given slightly more new buyers than new spec sellers. The managed money funds were adding to both sides in MPLS wheat too, but were 135 contracts more net short from Tuesday to Tuesday. 

USDA’s Ag Attaché expects Australia’s wheat cr... 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
$3,740/3,400
First Notice Date
02/28/23 (31 days)
Expiration Date
03/14/23 (45 days)

Seasonal Chart

Hard Red Wheat Mar '23
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Jan 24, 2023

View Chart Details
Commercials - Long / Short
83,539 (+4,819)
72,369 (+4,967)
Non-Commercials - Long / Short
39,575 (+2,903)
47,863 (+2,460)
Producers - Long / Short
40,881 (+3,586)
64,037 (+3,351)
Swap Dealers - Long / Short
36,381 (-275)
2,055 (+108)
Managed Money - Long / Short
31,843 (+2,800)
39,669 (+2,753)
Other Reportables - Long / Short
7,732 (+103)
8,194 (-293)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
803-2 +8.22%
on 01/10/23
894-0 -2.77%
on 12/30/22
-10-0 (-1.14%)
since 12/27/22
3-Month
803-2 +8.22%
on 01/10/23
987-4 -11.97%
on 11/01/22
-62-4 (-6.71%)
since 10/27/22
52-Week
780-0 +11.44%
on 02/03/22
1363-0 -36.23%
on 05/17/22
+59-2 (+7.31%)
since 01/27/22

More Hard Red Wheat Quotes

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Most Recent Stories

More News
Wheat Sees Spread Trading on Friday

SRW futures closed the last trade day of the week with 1 3/4 to 2 3/4 cent losses. The hard red wheats extended their premiums as KC rallied 1 3/4 to 5 cents on the day and MPLS gained 1 1/2 to 3 1/2 cents....

ZWH23 : 750-0s (-0.33%)
ZWK23 : 758-6s (-0.23%)
ZWPAES.CM : 6.9588 (-0.35%)
KEH23 : 869-2s (+0.52%)
KEPAWS.CM : 8.3412 (+0.54%)
MWH23 : 921-4s (+0.38%)
Soy Futures Fade on Friday

At the close beans were 14 cents weaker in the March contract and a dime in the red in the May. The other nearby beans closed fractionally to 8 1/2 cents lower. March is still at a nickel premium to May...

ZSH23 : 1509-4s (-0.92%)
ZSPAUS.CM : 14.7192 (-0.96%)
ZSK23 : 1504-4s (-0.68%)
ZSN23 : 1496-0s (-0.56%)
Corn Closes Mostly Red on Friday

The March corn contract ended the last trade day of the week with a fractional gain, while the other nearby contracts went home 2 1/4 to 3 1/2 cents in the red. That added to the board’s inverse, which...

ZCH23 : 683-0s (unch)
ZCPAUS.CM : 6.8572 (+0.12%)
ZCK23 : 680-0s (unch)
ZCN23 : 665-6s (-0.34%)
Is Corn Ready for a Seasonal February Rally?

After correcting a portion of the recent rally off the seasonal lows, corn appears to be ready to resume its post-harvest rally, as February has historically seen the uptrend continue into the first week...

ZCH23 : 683-0s (unch)
XNH23 : 683-0s (unch)
CORN : 26.54 (-0.15%)
Livestock Report

Hogs test resistance and fails

Shootin' the Bull about cattle

In my opinion, there is a divide between reality and optimism that is believed presenting an opportunity to market inventory at prices today, that may or may not be available in the future. 

SRW Red to Hard Red Gains

Friday wheat spreading has the CBT market down by 2 1/2 to 3 1/4 cents through midday, while the hard red classes remain in the black. KC HRW is trading 3 3/4 to 5 3/4 cents higher so far and MPLS HRS...

ZWH23 : 750-0s (-0.33%)
ZWK23 : 758-6s (-0.23%)
ZWPAES.CM : 6.9588 (-0.35%)
KEH23 : 869-2s (+0.52%)
KEPAWS.CM : 8.3412 (+0.54%)
MWH23 : 921-4s (+0.38%)
Weaker Bean Prices Through Friday

Midday soy quotes are red so far for Friday. Beans are fractionally lower in new crop to a dime in the red for March. Meal quotes are down by $2 to $2.70/ton in the front months. Soybean oil futures are...

ZSH23 : 1509-4s (-0.92%)
ZSPAUS.CM : 14.7192 (-0.96%)
ZSK23 : 1504-4s (-0.68%)
ZSN23 : 1496-0s (-0.56%)
Mixed Corn Board at Midday

The Friday trades have corn prices mixed with a penny stronger old crop and a penny weaker new crop. The spot (March) premium to December is now 95 cents on the board. USDA saw the week’s average ethanol...

ZCH23 : 683-0s (unch)
ZCPAUS.CM : 6.8572 (+0.12%)
ZCK23 : 680-0s (unch)
ZCN23 : 665-6s (-0.34%)
Friday's Last Call: 2023 HRW Wheat, The Crop That's Not

The Kansas City (HRW) looks to be in position to change direction as spring comes into view, partly due to the 2023 HRW crop being not due to draught.

KEPAUS.CM : 8.3286 (+0.55%)
KEN23 : 853-2s (+0.53%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 896-4
2nd Resistance Point 884-6
1st Resistance Point 877-0
Last Price 869-2s
1st Support Level 857-4
2nd Support Level 845-6
3rd Support Level 838-0

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52-Week High 1363-0
Fibonacci 61.8% 1140-2
Fibonacci 50% 1071-4
Fibonacci 38.2% 1002-6
Last Price 869-2s
52-Week Low 780-0

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