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Hard Red Wheat Jul '23 (KEN23)

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Hard Red Wheat Futures Market News and Commentary

Wheat Hold Higher on Friday

The wheat complex is trading with contract rallying on Friday across the three markets. Chicago SRW contracts were up 7 to 9 cents, as September was down 1 3//4 cents this week. KC HRW futures were 13 to 15 cents higher, with September up ½ cent on the week. MPLS spring wheat was up 8 to 9 cents at the close, with September up 6 ½ cents this week.

Weekly Commitment of Traders data indicated managed money in CBT wheat futures and options adding to their net short by 16m906 contracts in the week ending on August 4, taking it to just 23,786 contracts. In KC wheat, they trimmed 139 contracts from their net long, now at 33,094 contracts.

NASS will release updated production data for wheat on Wednesday via the monthly Crop Production report, with analysts surveyed by Reuters looking for 1.525 bbu of wheat, an `11 mbu cut from July if realized. Winter wheat is seen down 9 mbu to 981 mbu, with spring wheat expected to slip 7 mbu to 468 mbu.

Export Sales data from Thursday... 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
$1,870/1,700
First Notice Date
06/30/23
Expiration Date
07/14/23 (expired)

Seasonal Chart

Hard Red Wheat Jul '23
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Aug 4, 2026

View Chart Details
Commercials - Long / Short
112,206 (-927)
130,345 (+476)
Non-Commercials - Long / Short
73,792 (+1,370)
56,135 (-329)
Producers - Long / Short
24,872 (-1,589)
121,906 (+136)
Swap Dealers - Long / Short
80,592 (-2,062)
1,697 (-2,384)
Managed Money - Long / Short
66,956 (+1,881)
35,460 (+1,796)
Other Reportables - Long / Short
6,836 (-511)
20,675 (-2,125)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
784-0 +3.22%
on 06/15/23
891-2 -9.20%
on 06/22/23
+23-4 (+2.99%)
since 06/14/23
3-Month
736-2 +9.92%
on 05/02/23
918-6 -11.92%
on 05/17/23
-54-0 (-6.26%)
since 04/14/23
52-Week
736-2 +9.92%
on 05/02/23
1007-0 -19.64%
on 10/10/22
-36-4 (-4.32%)
since 07/14/22

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

Key Turning Points

3rd Resistance Point 809-2
2nd Resistance Point 809-2
1st Resistance Point 809-2
Last Price 809-2s
1st Support Level 809-2
2nd Support Level 809-2
3rd Support Level 809-2

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52-Week High 1007-0
Fibonacci 61.8% 903-5
Fibonacci 50% 871-5
Fibonacci 38.2% 839-5
Last Price 809-2s
52-Week Low 736-2

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