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Hard Red Wheat May '23 (KEK23)

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Hard Red Wheat Futures Market News and Commentary

Wheat Adds Weather Premium Ahead of the Weekend

The wheat complex was in rally mode across all three exchanges on Friday. Chicago SRW futures were up 20 to 23 cents in the front months, with March up 17 ¼ cents this week. KC HRW futures rallied 20 to 23 cents on the session, as March rose 17 cents since last Friday. MPLS spring wheat was 15 to 18 cents in the green on the day, with March ticking just 5 ¾ cents higher in the week. The markets will be closed on Monday for President’s Day, with a normal open for the Tuesday session.

Cold temps in parts of the US with little snow cover, as well as the Black Sea growing regions and the potential for some winter kill in the coming week is giving the market some support. 

Commitment of Traders data from CFTC showed a total of 7,633 contracts slashed from the spec net short as of Tuesday, to a net short of 82,809 contracts. In KC wheat, they were trimming back that net short by 5,733 contracts to 53,248 contracts

The French soft wheat crop was estimated at 73% good/exce... 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
CBOT
Point Value
$50
Margin/Maintenance
$2,090/1,900
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 Feb 11, 2025

View Chart Details
Commercials - Long / Short
123,641 (-3,208)
111,292 (+334)
Non-Commercials - Long / Short
63,312 (-6,459)
73,342 (-10,393)
Producers - Long / Short
38,327 (-1,581)
101,481 (+3,160)
Swap Dealers - Long / Short
80,061 (+1,057)
4,558 (-142)
Managed Money - Long / Short
39,587 (-6,015)
69,305 (-11,547)
Other Reportables - Long / Short
23,725 (-444)
4,037 (+1,154)
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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Complimentary issue of Jim Roemer's BestWeather recent newsletter available here for Barchart.com readers

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WEAT : 5.30 (+3.92%)
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Pure Hedge - Livestock and Grain

Game On - Selling Pressure Returns

Wheat Adds Weather Premium Ahead of the Weekend

The wheat complex was in rally mode across all three exchanges on Friday. Chicago SRW futures were up 20 to 23 cents in the front months, with March up 17 ¼ cents this week. KC HRW futures rallied 20...

KEK25 : 632-6s (+3.81%)
MWH25 : 633-4s (+2.72%)
KEH25 : 621-2s (+3.84%)
ZWH25 : 600-0s (+3.85%)
ZWK25 : 613-4s (+3.63%)
Soybeans Holds Higher Ahead of 3-day Weekend

Soybeans found some support heading into the long weekend, as cotnracts were up 5 to 7 cents in the nearby contracts on Friday. March was down 13 ½ cents on the week. The national front month The national...

ZSPX25US.CM : 9.8835 (+0.75%)
ZLK25 : 46.52s (-0.34%)
ZMK25 : 304.0s (+1.06%)
ZSPAUS.CM : 9.7461 (+0.62%)
ZSH25 : 1036-0s (+0.58%)
ZSX25 : 1052-0s (+0.65%)
ZSK25 : 1052-6s (+0.55%)
Corn Closes Higher on Spillover Support from Wheat

Corn was on the receiving end of spillover support from the wheat market on Friday, as futures were up fractionally to 3 cents higher. March was up 8 ¾ cents on the week. CmdtyView’s national average...

ZCZ25 : 473-0s (+0.05%)
ZCPAUS.CM : 4.6261 (+0.62%)
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ZCH25 : 496-2s (+0.56%)
ZCK25 : 508-6s (+0.54%)
Grains Weekly Recap

Your guide to breaking down what happened in the Grains market this week!

Cattle and Hogs Fall as We Head into a Long Weekend

Livestock markets end week on a weak note

Packers are "making" margin for themselves

Slashing slaughter rates in an attempt to back cattle up and keep beef prices elevated is age old manipulation of the market to achieve margins.

Soybeans Holding onto Gains at Midday

Soybeans are pushing higher so far on the Friday session, as contracts are 7 to 10 cents. The national front month Cash Bean price from cmdtyView is 9 ¼ cents higher at $9.78 3/4. Soymeal futures are...

ZSPX25US.CM : 9.8835 (+0.75%)
ZLK25 : 46.52s (-0.34%)
ZMK25 : 304.0s (+1.06%)
ZSPAUS.CM : 9.7461 (+0.62%)
ZSH25 : 1036-0s (+0.58%)
ZSX25 : 1052-0s (+0.65%)
ZSK25 : 1052-6s (+0.55%)
Wheat Rallying Ahead of 3-day Weekend

The wheat market is gathering some steam at Friday’s midday, rallying across the three exchanges. Cold temps in parts of the US with little now cover, as well as the Black Sea growing regions and the...

KEK25 : 632-6s (+3.81%)
MWH25 : 633-4s (+2.72%)
KEH25 : 621-2s (+3.84%)
ZWH25 : 600-0s (+3.85%)
ZWK25 : 613-4s (+3.63%)

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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