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Hard Red Wheat Jul '21 (KEN21)

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Hard Red Wheat Futures Market News and Commentary

Double Digit Strength for Wednesday Wheat

So far for the midweek session the wheat market is trading nearer the daily highs on double digit gains. CBT SRW futures are up 11 to 12 1/4 cents and less than a nickel from their daily high. KC futures are up as much as 16 1/4 cents so far – with the board back above the $10/bu mark. Spring wheat futures on the MGE are trading up by 11 1/2 to 15 3/4 cents.  

The KC-MPLS wheat spread is favoring HRW by 12 1/2 cents (December) through midday. The spread has been working towards KC since spring wheat held a 70c premium back in July. HRW was briefly a premium to HRS in April ’22 and before the 2020 Covid market, else we need to look back to 2014 to see higher HRW prices for the front month.  

Ahead of the weekly Export Sales report, analysts surveyed expect wheat sales were between 200k and 450k MT. 

Monthly wheat exports were reported at 92.34 mbu for August. That completed the Q1 of 22/23 shipping with 206.55 mbu, a 5-yr low. That marks 25% of the WASDE full year f... 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 Sep 27, 2022

View Chart Details
Commercials - Long / Short
67,757 (-1,079)
86,463 (+2,291)
Non-Commercials - Long / Short
45,624 (-2,203)
24,474 (-6,262)
Producers - Long / Short
30,511 (+727)
73,620 (+634)
Swap Dealers - Long / Short
34,411 (-824)
10,008 (+2,639)
Managed Money - Long / Short
36,937 (-529)
13,233 (-5,483)
Other Reportables - Long / Short
8,687 (-1,674)
11,241 (-779)
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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Double Digit Strength for Wednesday Wheat

So far for the midweek session the wheat market is trading nearer the daily highs on double digit gains. CBT SRW futures are up 11 to 12 1/4 cents and less than a nickel from their daily high. KC futures...

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MWZ22 : 981-4s (+0.54%)
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TFM Cash+ Take the Stress Out of Your Marketing Strategy. No hedge account. No margin calls. Just comprehensive, common-sense guidance at a great value. Learn more: https://www.totalfarmmarketing.com/tfm-cash-plus/...

TFM Morning Update 10-5-2022

TFM Cash+ Take the Stress Out of Your Marketing Strategy. No hedge account. No margin calls. Just comprehensive, common-sense guidance at a great value. Learn more: https://www.totalfarmmarketing.com/tfm-cash-plus/...

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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