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Hard Red Wheat Jul '21 (KEN21)
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Hard Red Wheat Futures Market News and Commentary

Wheats Faded into the Weekend

After a week of buying into the data release and seeing a mostly bull-friendly update, wheat futures pulled back into the weekend. Chicago futures went home 9 to 11 cents in the red, but still 29 cents above last Friday’s close. KC HRW futures settled with 3 to 6 ½ cent losses on the day, but held onto a 14 cent gain for the week. Spring wheat futures closed 7 ¾ to 8 ¼ cents in the red. March HRS finished the week with a net ¾ cent loss. The cash average price for wheat from the WASDE report was a dime higher at $7.30. 

Commitment of Traders data showed SRW wheat spec traders closed out 21k shorts, reducing their net short to 96,222 contracts. Managed money traders also covered shorts in KC wheat, leaving the group on a 38,858 contract net short as of 12/5. Managed funds were shown with a 26,891 contract net short for MPLS wheat, 2k contracts weaker also via short covering. 

USDA reported China booked another 110k MT of SRW via private export sale. 

USDA’s December... 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
$2,860/2,600
First Notice Date
06/30/21
Expiration Date
07/14/21 (expired)

Seasonal Chart

Hard Red Wheat Jul '21
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Dec 5, 2023

View Chart Details
Commercials - Long / Short
80,755 (-7,214)
55,786 (+4,446)
Non-Commercials - Long / Short
59,129 (-673)
82,654 (-11,583)
Producers - Long / Short
29,127 (-9,097)
40,948 (+2,476)
Swap Dealers - Long / Short
39,604 (-924)
2,814 (-837)
Managed Money - Long / Short
39,372 (+200)
77,751 (-11,087)
Other Reportables - Long / Short
19,757 (-873)
4,903 (-496)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
573-0 +7.77%
on 07/06/21
661-4 -6.65%
on 07/01/21
-10-4 (-1.67%)
since 06/14/21
3-Month
573-0 +7.77%
on 07/06/21
741-4 -16.72%
on 05/07/21
+6-0 (+0.98%)
since 04/14/21
52-Week
449-6 +37.30%
on 08/07/20
741-4 -16.72%
on 05/07/21
+138-2 (+28.85%)
since 07/14/20

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Wheats Faded into the Weekend

After a week of buying into the data release and seeing a mostly bull-friendly update, wheat futures pulled back into the weekend. Chicago futures went home 9 to 11 cents in the red, but still 29 cents...

ZWZ23 : 615-0s (-1.76%)
ZWH24 : 625-4 (-0.99%)
KEZ23 : 655-6s (-0.98%)
MWZ23 : 712-6s (unch)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 617-4
2nd Resistance Point 617-4
1st Resistance Point 617-4
Last Price 617-4s
1st Support Level 617-4
2nd Support Level 617-4
3rd Support Level 617-4

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52-Week High 741-4
Fibonacci 61.8% 630-0
Last Price 617-4s
Fibonacci 50% 595-5
Fibonacci 38.2% 561-2
52-Week Low 449-6

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