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Hard Red Wheat Jul '21 (KEN21)

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Hard Red Wheat Futures Market News and Commentary

Afternoon Tumble in Wheat Futures

After trading modestly higher through midday on Friday, the wheat markets turned south and ended the day down by double digits. SRW futures closed 13 to 18 cents weaker in the front months, which completed the week as a 31 3/4 cent loss for December. KC futures ended the trade with 7 3/4 to 8 1/2 cent losses. Dec KC dropped 16 1/2 cents from the session’s high. MPLS spring wheat prices went into the weekend fractionally to 10 1/2 cents in the red. 

The weekly Export Sales report from FAS had 511,796 MT of wheat bookings during the week that ended 11/17. That was a 4-wk high and 3rd most for a week this season. Trade ideas for this were for between 250,000-600,000 MT. Iraq was the top buyer for the week, with 150k MT previously announced. Wheat commitments sit at 13.3 MMT, compared to 14.24 MMT last year and the 21.1 MMT WASDE forecast. 

Social media reports indicate Egypt booked 115k MT of wheat directly from Russia and Ukraine on Thursday.  

Dec 22 CBOT Wheat  clo... 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
$3,740/3,400
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 Nov 15, 2022

View Chart Details
Commercials - Long / Short
70,876 (+4,113)
88,207 (+1,957)
Non-Commercials - Long / Short
38,881 (-2,125)
20,893 (+478)
Producers - Long / Short
28,156 (+1,932)
78,685 (+1,314)
Swap Dealers - Long / Short
34,773 (+414)
1,575 (-1,124)
Managed Money - Long / Short
30,697 (-3,215)
9,659 (-49)
Other Reportables - Long / Short
8,184 (+1,090)
11,234 (+527)
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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After trading modestly higher through midday on Friday, the wheat markets turned south and ended the day down by double digits. SRW futures closed 13 to 18 cents weaker in the front months, which completed...

ZWZ22 : 767-0 (-1.10%)
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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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