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Hard Red Wheat Jul '24 (KEN24)

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Hard Red Wheat Futures Market News and Commentary

Wheat Bulls Push Higher After Stocks Cut

The wheat complex posted gains across the three markets on Tuesday following a USDA stocks reduction. Chicago SRW futures were 3 to 5 1/4 cents higher across most contracts with Dec up ¾ cent. KC HRW contracts were up 3 3/4 to 7 cents on the day. MPLS spring wheat was steady to 3 1/2 cents higher at the close.

The monthly WASDE report gave the bulls a somewhat friendly surprise as US wheat exports were up 25 mbu to 850, with imports up 5 mbu. US ending stocks were down 20 mbu to 795 mbu as a result, vs. the trade looking for the number to remain steady. Despite the tighter US number, the world stocks were 0.31 MMT higher at 257.88 MMT. Much of that was due to a 1.16 MMT increase to carryover, as EU production was down 1.3 MMT.

Japan has issued a weekly tender for 112,889 MT of wheat from the US, Canada, and Australia, with 58,986 MT US specific. The EU commission shows the marketing year to date (since July 1) soft wheat exports at 10.24 MMT as of December 8, compared to... 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
$2,090/1,900
First Notice Date
06/28/24
Expiration Date
07/12/24 (expired)

Seasonal Chart

Hard Red Wheat Jul '24
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Dec 3, 2024

View Chart Details
Commercials - Long / Short
108,867 (+3,178)
85,119 (-2,246)
Non-Commercials - Long / Short
68,706 (+1,716)
91,418 (+7,667)
Producers - Long / Short
37,392 (+3,084)
70,734 (-5,520)
Swap Dealers - Long / Short
66,763 (-552)
9,673 (+2,628)
Managed Money - Long / Short
46,119 (+424)
85,634 (+8,202)
Other Reportables - Long / Short
22,587 (+1,292)
5,784 (-535)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
566-4 +6.62%
on 07/10/24
641-4 -5.85%
on 06/13/24
-33-2 (-5.22%)
since 06/12/24
3-Month
566-4 +6.62%
on 07/10/24
746-2 -19.06%
on 05/28/24
+17-0 (+2.90%)
since 04/12/24
52-Week
543-2 +11.18%
on 03/06/24
873-0 -30.81%
on 07/25/23
-163-6 (-21.33%)
since 07/12/23

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Most Recent Stories

More News
Corn Rallies on Tuesday as USDA Cuts Stocks

Corn bulls got a pop on Tuesday following a USDA stocks revision. Futures closed with contracts fractionally to 7 ½ cents higher on the day. The national average Cash Corn price from cmdtyView was up...

ZCPAUS.CM : 4.2101 (+1.68%)
ZCZ24 : 441-4 (+0.23%)
ZCZ24 : 441-4 (+0.23%)
ZCH25 : 449-2 (+0.06%)
Soybeans Hold Gains on Tuesday

Soybean futures held up on the Tuesday session as USDA made minimal changes to the US or world balance sheets. Contracts were up 3 ¾ to 5 ¼ cents at the close. CmdtyView’s national front month Cash...

ZLF25 : 42.38 (-0.80%)
ZMF25 : 291.8 (-0.07%)
ZSPAUS.CM : 9.4591 (+0.48%)
ZSF25 : 991-4 (-0.33%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 997-6 (-0.25%)
Wheat Bulls Push Higher After Stocks Cut

The wheat complex posted gains across the three markets on Tuesday following a USDA stocks reduction. Chicago SRW futures were 3 to 5 1/4 cents higher across most contracts with Dec up ¾ cent. KC HRW...

KEH25 : 566-6 (+0.18%)
MWZ24 : 582-2s (unch)
KEZ24 : 549-2s (+1.29%)
ZWZ24 : 542-0s (+0.14%)
ZWH25 : 563-0 (+0.22%)
Grain Spreads: Corn Surprise

Xmas Presents for Producers

December WASDE - A Win For Corn Bulls

The December WASDE report sent nearby March corn futures rallying to multi-week highs following a surprise cut in ending stocks and bolstered domestic export projections.

Shootin' the Bull about change's

There is little to hash out.  The industry is changing and higher prices are expected to quicken the change.  Higher prices will cure high prices.  What we are testing at the moment is how high that...

Wheat Trading with Midday Gains Following Stocks Cut

The wheat complex is posting gains across the three markets on Tuesday’s midday. Chicago SRW futures are 1 ½ to 4 cents higher. There were 3 deliveries issued against December CBT wheat futures overnight....

KEH25 : 566-6 (+0.18%)
MWZ24 : 582-2s (unch)
KEZ24 : 549-2s (+1.29%)
ZWZ24 : 542-0s (+0.14%)
ZWH25 : 563-0 (+0.22%)
Corn Rallying After USDA Slashes Stocks

Corn bulls are feeling merry as the market trades through midday. Futures are trading with gains of 3 ¼ to 5 cents across the nearbys so far. The national average Cash Corn price from cmdtyView is up...

ZCPAUS.CM : 4.2101 (+1.68%)
ZCZ24 : 441-4 (+0.23%)
ZCZ24 : 441-4 (+0.23%)
ZCH25 : 449-2 (+0.06%)
Soybean Holding Gains at Tuesday’s Midday

Soybean futures are holding onto gains at Tuesday with contracts fractionally to 2 cents higher. CmdtyView’s national front month Cash Bean price is back down 1 1/2 cents at $9.43. Soymeal futures are...

ZLF25 : 42.38 (-0.80%)
ZMF25 : 291.8 (-0.07%)
ZSPAUS.CM : 9.4591 (+0.48%)
ZSF25 : 991-4 (-0.33%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 997-6 (-0.25%)
Crop Production

Crop Production - 2024-12-10

MWH25 : 607-4 (+0.16%)
ZSF25 : 991-4 (-0.33%)
XBH25 : 207.50 (+0.12%)
XEF25 : 75.80 (-0.16%)
SWH25 : 541.90 (+0.59%)
ZSBAUS.CM : -0.4884 (-0.43%)
ZOH25 : 354-2 (+0.21%)
ZRF25 : 15.060 (-0.20%)
MLH25 : 229.25 (+0.11%)
Y2F25 : 2,662s (unch)
ZCH25 : 449-2 (+0.06%)
ZCDAUS-BIW.CM : 15,671,136 (unch)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 612-0
2nd Resistance Point 608-0
1st Resistance Point 606-0
Last Price 604-0s
1st Support Level 600-0
2nd Support Level 596-0
3rd Support Level 594-0

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52-Week High 873-0
Fibonacci 61.8% 747-0
Fibonacci 50% 708-1
Fibonacci 38.2% 669-2
Last Price 604-0s
52-Week Low 543-2

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