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Hard Red Winter Wheat May '25 (KEK25)

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Hard Red Winter Wheat Futures Market News and Commentary

Wheat Falling Back with Outside Pressure to Start Wednesday

Wheat is showing early Wednesday losses of double digits across the three exchanges.  The wheat complex posted losses across three markets on Tuesday. Chicago SRW futures were 8 to 13 ¼ cents in the red at the close. There were another 41 deliveries issued against May futures overnight. KC HRW futures were down 3 to 5 3/4 cents on Tuesday.  MPLS spring wheat was 3 to 4 1/2 cents lower at the final bell.

Crude oil is down $7.67 this morning following the US and Iran closing in on reaching a memorandum of understanding that would, among other things, allow for the safe passage through the Strait of Hormuz as well as a path to ending to conflict.

Crop Progress data showed the US spring wheat crop at 32% planted, now 3 percentage points behind the pace from the last 5 years (35%). Planting progress in MN was 12% back of average, with ND 5% behind normal. Emergence was pegged at 10%. 

The winter wheat crop was at 49% headed by Sunday, which was 17 percentage points head... 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
04/30/25
Expiration Date
05/14/25 (expired)

Seasonal Chart

Hard Red Winter Wheat May '25
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Apr 28, 2026

View Chart Details
Commercials - Long / Short
107,794 (-12,553)
121,413 (-13,938)
Non-Commercials - Long / Short
76,758 (-832)
64,118 (+866)
Producers - Long / Short
23,923 (-8,258)
112,859 (-9,163)
Swap Dealers - Long / Short
81,575 (+1,107)
6,258 (+627)
Managed Money - Long / Short
71,571 (-476)
40,322 (-320)
Other Reportables - Long / Short
5,187 (-356)
23,796 (+1,186)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
498-2 +2.21%
on 05/12/25
569-2 -10.54%
on 04/17/25
-46-0 (-8.28%)
since 04/14/25
3-Month
498-2 +2.21%
on 05/12/25
642-4 -20.74%
on 02/19/25
-123-4 (-19.52%)
since 02/14/25
52-Week
498-2 +2.21%
on 05/12/25
784-0 -35.04%
on 05/28/24
-229-4 (-31.07%)
since 05/14/24

More Hard Red Winter Wheat Quotes

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Most Recent Stories

More News
Wheat Falling Back with Outside Pressure to Start Wednesday

Wheat is showing early Wednesday losses of double digits across the three exchanges. The wheat complex posted losses across three markets on Tuesday. Chicago SRW futures were 8 to 13 ¼ cents in the red...

KEN26 : 679-0 (-1.59%)
KEK26 : 681-6 (+0.66%)
MWK26 : 6.8375s (-0.65%)
ZWK26 : 598-2 (-2.96%)
ZWN26 : 613-2 (-2.31%)
Corn Tumbling Early on Wednesday with Crude Oil Pressure

Corn prices are down 8 to 9 ½ cents on Wednesday AM trade. Futures closed the Tuesday session with deferred contracts fractionally lower to down 5 2/4 cents in the nearbys. In delivery May was down 8...

ZCZ26 : 493-4 (-1.40%)
ZCN26 : 473-2 (-1.41%)
ZCK26 : 459-6 (-1.24%)
ZCPZ26US.CM : 4.5519 (-1.51%)
ZCPAUS.CM : 4.3118 (-1.53%)
Soybeans Facing Oil Pressure Issues on Wednesday Morning

Soybeans are trading with 4 to 7 cent losses early on Wednesday. Futures were 2 ¾ to 11 ¾ cents in the red on Tuesday, with the nearbys leading the charge. Open interest was up 9,873 contracts on Tuesday....

ZSPAUS.CM : 11.3785 (-0.47%)
ZLN26 : 75.50 (-1.83%)
ZMN26 : 321.7 (+0.41%)
ZSPX26US.CM : 11.1573 (-0.60%)
ZSX26 : 1182-6 (-0.57%)
ZSK26 : 1190-0 (-0.48%)
ZSN26 : 1206-0 (-0.45%)
soybeans on the move

I am Stephen Davis, senior market strategist at Walsh Trading, Inc., Chicago, Illinois. You can reach me at 312-878-2391. Yesterday, July 2026 soybean futures rallied. Today, they went down. In my opinion,...

Corn Faces Tuesday Pressure

Corn futures closed the Tuesday session with deferred contracts fractionally lower to down 5 2/4 cents in the nearbys. In delivery May was down 8 ¼ cents. The CmdtyView national average Cash Corn price...

ZCZ26 : 493-4 (-1.40%)
ZCN26 : 473-2 (-1.41%)
ZCK26 : 459-6 (-1.24%)
ZCPZ26US.CM : 4.5519 (-1.51%)
ZCPAUS.CM : 4.3118 (-1.53%)
Soybeans Fall Back on Tuesday

Soybeans were 2 ¾ to 11 ¾ cents in the red on Tuesday, with the nearbys leading the charge. The cmdtyView national average Cash Bean price was down 11 1/4 cents at $11.43. Soymeal futures were down 50...

ZSPAUS.CM : 11.3785 (-0.47%)
ZLN26 : 75.50 (-1.83%)
ZMN26 : 321.7 (+0.41%)
ZSPX26US.CM : 11.1573 (-0.60%)
ZSX26 : 1182-6 (-0.57%)
ZSK26 : 1190-0 (-0.48%)
ZSN26 : 1206-0 (-0.45%)
Wheat Falls on Tuesday

The wheat complex posted losses across three markets on Tuesday. Chicago SRW futures were 8 to 13 ¼ cents in the red at the close. KC HRW futures were down 3 to 5 3/4 cents on Tuesday. MPLS spring wheat...

KEN26 : 679-0 (-1.59%)
KEK26 : 681-6 (+0.66%)
MWK26 : 6.8375s (-0.65%)
ZWK26 : 598-2 (-2.96%)
ZWN26 : 613-2 (-2.31%)
AUG-NOV SOYBEAN SPREAD (ZSQ26-ZSX26) - WALSH PURE SPREADER

WALSH PURE SPREADER - Pure Hedge Division

Pure Hedge - Livestock and Grain

Has the Grain Bubble Popped?

Shootin' the Bull about congesting fundamentals

There is seemingly a lot of congestion at this top.  Both packers and cattle feeders are losing money.  Projected margins reflect significant losses for both.

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 509-2
2nd Resistance Point 509-2
1st Resistance Point 509-2
Last Price 509-2s
1st Support Level 509-2
2nd Support Level 509-2
3rd Support Level 509-2

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52-Week High 784-0
Fibonacci 61.8% 674-7
Fibonacci 50% 641-1
Fibonacci 38.2% 607-3
Last Price 509-2s
52-Week Low 498-2

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