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Hard Red Wheat May '23 (KEK23)

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Hard Red Wheat Futures Market News and Commentary

Wheat Trying to Hold Gains on Thursday

The wheat complex got off to a higher early start, as bulls are now fighting to stay above water. Chicago contracts are showing steady to 1 cent higher trade so far on the day. Kansas City futures are up 3 to 6 cents at midday. MPLS spring wheat is up 4 to 6 cents.

All wheat export sales for the 23/24 MY were just 17,852 MT as there are just 2 weeks left in the MY. Sales for the 24/25 crop were on the low end of the estimates during the week of 5/16 at 224,860 MT. That was a 5-week low. The top buyer was Mexico of 129,300 MT, with 30,000 MT sold to Brazilian buyers.

Jul 24 CBOT Wheat  is at $6.94, up 1 cent,

Sep 24 CBOT Wheat  is at $7.13 3/4, up 1 cent,

Jul 24 KCBT Wheat  is at $7.05 1/4, up 5 3/4 cents,

Sep 24 KCBT Wheat  is at $7.19 1/4, up 5 1/2 cents,

Jul 24 MGEX Wheat  is at $7.41 1/4, up 4 3/4 cents,

Sep 24 MGEX Wheat  is at $7.52, up 5 3/4 cents,

On the date of publication, Alan Brugler did not have (either directly or indirectly... 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
$2,200/2,000
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 May 14, 2024

View Chart Details
Commercials - Long / Short
105,944 (-1,291)
90,099 (+7,166)
Non-Commercials - Long / Short
55,634 (+3,468)
66,433 (-3,389)
Producers - Long / Short
37,834 (+183)
80,599 (+7,054)
Swap Dealers - Long / Short
60,045 (-1,712)
1,435 (-126)
Managed Money - Long / Short
38,824 (+2,482)
55,730 (-4,424)
Other Reportables - Long / Short
16,810 (+986)
10,703 (+1,035)
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

More Hard Red Wheat Quotes

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Most Recent Stories

More News
Wheat Trying to Hold Gains on Thursday

The wheat complex got off to a higher early start, as bulls are now fighting to stay above water. Chicago contracts are showing steady to 1 cent higher trade so far on the day. Kansas City futures are...

ZWN24 : 698-0s (+0.72%)
ZWU24 : 718-0s (+0.74%)
KEN24 : 710-6s (+1.61%)
KEU24 : 724-4s (+1.51%)
MWN24 : 744-0s (+1.02%)
Soybeans Pulling Back on Thursday

Soybeans are fading off the early Thursday gains, as contracts are steady to 4 cents lower across the board. Soymeal futures are mixed on the day with the front months 20 cents on either side of unch....

ZMN24 : 376.7s (-0.40%)
ZLN24 : 45.19s (-1.50%)
ZSN24 : 1239-2s (-0.56%)
ZSPAUS.CM : 11.7889 (-0.57%)
ZSQ24 : 1237-6s (-0.44%)
ZSX24 : 1216-0s (-0.18%)
ZSPX24US.CM : 11.5448 (-0.20%)
Corn Holding Higher at Midday

Corn futures are holding higher across most contracts on Thursday, with gains of 1 ¼ to 3 ¾ cent gains. June serial options expire against the July contract on Friday. USDA’s weekly Export Sales...

ZCN24 : 464-0s (+0.60%)
ZCPAUS.CM : 4.4113 (+0.74%)
ZCU24 : 473-2s (+0.64%)
ZCZ24 : 486-4s (+0.52%)
ZCPZ24US.CM : 4.5653 (+0.57%)
How to Make Sense of the Wheat Markets

The three wheat markets continue to raise a number of questions as we make our way toward the end of May.

ZWN24 : 698-0s (+0.72%)
IWY00 : 634.25s (-0.57%)
Corn Posting Thursday AM Gains

Corn prices are up 2 to 3 ¼ cents this Thursday morning. Futures ended the Wednesday session with contracts showing fractional to 3 ¼ cent gains. June serial options expire against the July contract...

ZCN24 : 464-0s (+0.60%)
ZCPAUS.CM : 4.4113 (+0.74%)
ZCU24 : 473-2s (+0.64%)
ZCZ24 : 486-4s (+0.52%)
ZCPZ24US.CM : 4.5653 (+0.57%)
Soybeans Extending Higher to Start Thursday

Soybeans are posting 5 to 7 cent higher trade ahead of the weekly USDA Export Sales release. They turned back higher on Wednesday, with contracts up 4 to 10 cents across most months led by the nearbys....

ZMN24 : 376.7s (-0.40%)
ZLN24 : 45.19s (-1.50%)
ZSN24 : 1239-2s (-0.56%)
ZSPAUS.CM : 11.7889 (-0.57%)
ZSQ24 : 1237-6s (-0.44%)
ZSX24 : 1216-0s (-0.18%)
ZSPX24US.CM : 11.5448 (-0.20%)
Wheat Climbing Higher Ahead of Export Sales Release

The wheat complex is trading 2 to 7 cents higher as it awaits fresh Export Sales data on Thursday morning. Chicago contracts hit a 10-month high in the front month continuation chart overnight, but posted...

ZWN24 : 698-0s (+0.72%)
ZWU24 : 718-0s (+0.74%)
KEN24 : 710-6s (+1.61%)
KEU24 : 724-4s (+1.51%)
MWN24 : 744-0s (+1.02%)
Why Coffee Prices Exploded. What Next?

Jim's focus on the coffee crop via his grapevine of agents at the source in three countries (He also shares a thought or two about soybeans, sugar and orange juice)

KCN24 : 215.65s (-2.18%)
KCU24 : 214.80s (-2.03%)
KCZ24 : 213.60s (-1.97%)
RMN24 : 3,819s (-2.50%)
RMU24 : 3,739s (-2.73%)
RMX24 : 3,644s (-2.51%)
Wheat Closes Lower After Hitting 10-Month Highs

The wheat complex posted early strength on Wednesday, but quickly faded off for losses at the close. Chicago contracts hit a 10-month high in the front month continuation chart overnight, but posted losses...

ZWN24 : 698-0s (+0.72%)
ZWU24 : 718-0s (+0.74%)
KEN24 : 710-6s (+1.61%)
KEU24 : 724-4s (+1.51%)
MWN24 : 744-0s (+1.02%)
Soybeans Rally for Midweek Gains, Helped by Meal

Soybeans turned back higher on Wednesday, with contracts up 4 to 10 cents across most months led by the nearbys. Soymeal futures were up $2 to $5.90/ton across most contracts on the midweek session. Soy...

ZMN24 : 376.7s (-0.40%)
ZLN24 : 45.19s (-1.50%)
ZSN24 : 1239-2s (-0.56%)
ZSPAUS.CM : 11.7889 (-0.57%)
ZSQ24 : 1237-6s (-0.44%)
ZSX24 : 1216-0s (-0.18%)
ZSPX24US.CM : 11.5448 (-0.20%)

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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