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Hard Red Wheat Jul '24 (KEN24)

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Hard Red Wheat Futures Market News and Commentary

Wheat Posting Double Digit Monday Morning Rally

The wheat complex is posting double digit gains of 14 to 19 cents across the three exchanges far on Monday morning. They posted weakness across the board on Friday. Chicago contracts were down 2 to 12 cents, led by the front months. Kansas City futures closed with contracts 4 ¼ to 11 ½ cents. MPLS spring wheat futures were down 7 ½ to 9 ¾ cents across the board.

The Kansas HRW Wheat Quality Tour saw tour average yield of 46.5 bpa. That is well above the 30 from last year and higher than the prior 5-year average of 42.4 bpa. The total production estimate for the KS crop was 290.4 mbu, well above the USDA’s 267.9 from last week.

The large managed money spec funds in Chicago wheat futures and options cut another 14,109 contracts from their net short position as of May 14 to 28,251 contracts. That was the smallest net short they have held since October 2022. In KC wheat, they cut 6,746 contracts from their net short to 17,267 contracts as of Tuesday. 

Russia’s Grain Un... 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
$2,200/2,000
First Notice Date
06/28/24 (39 days)
Expiration Date
07/12/24 (53 days)

Seasonal Chart

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

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
105,944 (-1,291)
90,099 (+7,166)
Non-Commercials - Long / Short
55,634 (+3,468)
66,433 (-3,389)
Producers - Long / Short
37,834 (+183)
80,599 (+7,054)
Swap Dealers - Long / Short
60,045 (-1,712)
1,435 (-126)
Managed Money - Long / Short
38,824 (+2,482)
55,730 (-4,424)
Other Reportables - Long / Short
16,810 (+986)
10,703 (+1,035)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
581-6 +17.23%
on 04/22/24
710-0 -3.94%
on 05/13/24
+99-0 (+16.98%)
since 04/19/24
3-Month
543-2 +25.54%
on 03/06/24
710-0 -3.94%
on 05/13/24
+109-2 (+19.07%)
since 02/20/24
52-Week
543-2 +25.54%
on 03/06/24
873-0 -21.88%
on 07/25/23
-69-2 (-9.22%)
since 05/19/23

More Hard Red Wheat Quotes

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Most Recent Stories

More News
Corn Following Rest of the Grains Higher on Monday Morning

Corn prices are up 3 to 4 cents to begin the new week, with spillover support from double digit strength in wheat. Futures closed out the Friday session with losses across the board, as contracts were...

ZCN24 : 456-2 (+0.83%)
ZCPAUS.CM : 4.3223 (+0.88%)
ZCU24 : 466-2 (+0.81%)
ZCZ24 : 480-6 (+0.89%)
ZCPZ24US.CM : 4.5081 (+0.95%)
Wheat Posting Double Digit Monday Morning Rally

The wheat complex is posting double digit gains of 14 to 19 cents across the three exchanges far on Monday morning. They posted weakness across the board on Friday. Chicago contracts were down 2 to 12...

ZWN24 : 669-4 (+2.80%)
ZWU24 : 689-6 (+2.64%)
KEN24 : 680-6 (+2.87%)
KEU24 : 694-4 (+2.81%)
MWN24 : 725-0 (+1.90%)
Soybeans Edging Higher To Start Week

Soybeans are trading 1 to 4 cents in the green this morning. They held on for steady to 11 ¾ cent higher trade across the front months at the close, with back month 2025 contracts lower. Preliminary open...

ZMN24 : 367.6 (-0.33%)
ZLN24 : 45.38 (+0.24%)
ZSN24 : 1231-0 (+0.24%)
ZSPAUS.CM : 11.6924 (+0.26%)
ZSQ24 : 1228-0 (+0.22%)
ZSX24 : 1204-6 (+0.12%)
ZSPX24US.CM : 11.4307 (+0.13%)
Grain Futures Prices Rally to Start the Week. Will it Last?

Grain futures have been firm in the overnight and early morning trade, but we saw that overnight strength fizzle into regular trading hours last week.  Will the early morning rally be able to hold?

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ZSN24 : 1231-0 (+0.24%)
SOYB : 25.52 (+0.28%)
ZCN24 : 456-2 (+0.83%)
CORN : 20.31 (-0.93%)
ZWN24 : 669-4 (+2.80%)
KEN24 : 680-6 (+2.87%)
WEAT : 6.23 (+2.30%)
CCN24 : 6,904 (-6.04%)
KCN24 : 204.00 (-1.26%)
TAGS : 28.15 (-0.60%)
DBA : 23.50 (+0.04%)
Cattle Markets Strong, Hogs Weaken

Strong cash Drives cattle higher

Soybeans Hold in For Gains

Soybeans held on for steady to 11 ¾ cent higher trade across the front months at the close, with back month 2025 contracts lower. July soybeans were up 9 cents this week, with November down 2 ¼. Soymeal...

ZMN24 : 367.6 (-0.33%)
ZLN24 : 45.38 (+0.24%)
ZSN24 : 1231-0 (+0.24%)
ZSPAUS.CM : 11.6924 (+0.26%)
ZSQ24 : 1228-0 (+0.22%)
ZSX24 : 1204-6 (+0.12%)
ZSPX24US.CM : 11.4307 (+0.13%)
Wheat Ends Friday with Double Digit Weakness

The wheat complex posted weakness across the board on Friday. Chicago contracts were down 2 to 12 cents, led by the front months. Kansas City futures closed with contracts 4 ¼ to 11 ½ cents. MPLS spring...

ZWN24 : 669-4 (+2.80%)
ZWU24 : 689-6 (+2.64%)
KEN24 : 680-6 (+2.87%)
KEU24 : 694-4 (+2.81%)
MWN24 : 725-0 (+1.90%)
Corn Ends the Week with Losses

Corn futures closed out the Friday session with losses across the board, as contracts were down 2 to 5 ¼ cents. On the week, July was down 17 ¼ cents, with December losing 15 ½ cents. Weekend weather...

ZCN24 : 456-2 (+0.83%)
ZCPAUS.CM : 4.3223 (+0.88%)
ZCU24 : 466-2 (+0.81%)
ZCZ24 : 480-6 (+0.89%)
ZCPZ24US.CM : 4.5081 (+0.95%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 703-3
2nd Resistance Point 694-3
1st Resistance Point 678-1
Last Price 681-2
1st Support Level 652-7
2nd Support Level 643-7
3rd Support Level 627-5

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52-Week High 873-0
Fibonacci 61.8% 747-0
Fibonacci 50% 708-1
Last Price 681-2
Fibonacci 38.2% 669-2
52-Week Low 543-2

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