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Hard Red Wheat May '23 (KEK23)

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Hard Red Wheat Futures Market News and Commentary

Wheat Rallies on Friday

The wheat complex rallied into the long weekend with gains across the three markets. Chicago SRW futures were 7 to 8 cents higher on Friday, with March up just ¾ cent from last week. KC HRW futures saw Friday gains of 9 to 10 cents in the nearbys, with March down 3 cents on the week. MPLS spring wheat was up 2 to 3 cents across the front months on Friday, with March down 2 ½ cents this week. The markets will be off on Monday for the Martin Luther King Jr. Day holiday. They will open back up on Monday evening. 

The weekly CFTC update via Commitment of Traders data showed managed money trimming just 936 contracts from their net short in CBT wheat futures and options to 106,229 contracts by Tuesday. As of January 13, specs were net short just 12,781 contracts in KC wheat futures and options, a 2,874 contract reduction from the week prior. 

Export Sales data is fully updated through January 8, with total wheat commitments at 20.392 MMT, which is 15% above last year. That is... Read more

Contract Specifications

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Contract
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
CBOT
Point Value
$50
Margin/Maintenance
$1,760/1,600
First Notice Date
04/28/23
Expiration Date
05/12/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jan 13, 2026

View Chart Details
Commercials - Long / Short
120,995 (+3,102)
115,111 (-172)
Non-Commercials - Long / Short
86,843 (-2,775)
87,183 (-805)
Producers - Long / Short
33,019 (-4,782)
98,438 (+410)
Swap Dealers - Long / Short
75,734 (+8,587)
4,431 (+121)
Managed Money - Long / Short
65,090 (-1,553)
78,265 (-4,132)
Other Reportables - Long / Short
21,753 (-1,222)
8,918 (+3,327)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
769-4 +15.89%
on 04/27/23
932-4 -4.37%
on 05/10/23
+28-2 (+3.27%)
since 04/12/23
3-Month
769-4 +15.89%
on 04/27/23
932-4 -4.37%
on 05/10/23
-5-0 (-0.56%)
since 02/10/23
52-Week
769-4 +15.89%
on 04/27/23
1326-2 -32.76%
on 05/17/22
-344-4 (-27.87%)
since 05/12/22

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 891-6
2nd Resistance Point 891-6
1st Resistance Point 891-6
Last Price 891-6s
1st Support Level 891-6
2nd Support Level 891-6
3rd Support Level 891-6

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52-Week High 1326-2
Fibonacci 61.8% 1113-5
Fibonacci 50% 1047-7
Fibonacci 38.2% 982-1
Last Price 891-6s
52-Week Low 769-4

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