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Hard Red Winter Wheat Sep '26 (KEU26)

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Hard Red Winter Wheat Futures Market News and Commentary

Wheat Collapses to Close out July

The wheat complex fell into the weekend, with losses across the three exchanges as money was coming out at the end of the month. Chicago SRW contracts were down 18 ¼ to 24 ¼ cents at the close. September was down 38 ¾ cents on the week, but still 50 cents higher on the month.  KC HRW futures were down 13 3/4 to 23 1/4 cents at the close, as September fell 37 ¾ cents this week but was up 82 ¼ cents during July. MPLS spring wheat was down 11 to 21 ¾ cents on Friday, with September down 24 1/2 cents on the week.

Weekly Commitment of Traders data indicated managed money in CBT wheat futures and options slashing their net short by another 12,469 contracts in the week ending on July 28, taking it to just 6,880 contracts. In KC wheat, they added another 3,289 contracts to their net long, now at 33,233 contracts.

Export Sales data has the total wheat sales for 2026/27 at 6.979 MMT, which is 33% of the current export estimate from USDA and lags the 39% average sales pace. 

... 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
08/31/26 (31 days)
Expiration Date
09/14/26 (45 days)

Seasonal Chart

Hard Red Winter Wheat Sep '26
Average Price Chart for 5 Prior Sep Contracts

Commitment of Traders Positions as of Jul 28, 2026

View Chart Details
Commercials - Long / Short
113,133 (-930)
129,869 (+3,084)
Non-Commercials - Long / Short
72,422 (-1,011)
56,464 (-2,669)
Producers - Long / Short
26,461 (-2,263)
121,770 (+2,667)
Swap Dealers - Long / Short
82,654 (+75)
4,081 (-841)
Managed Money - Long / Short
65,075 (-350)
33,664 (-5,051)
Other Reportables - Long / Short
7,347 (-661)
22,800 (+2,382)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
622-4 +13.65%
on 07/01/26
777-4 -9.00%
on 07/24/26
+82-2 (+13.15%)
since 06/30/26
3-Month
610-6 +15.84%
on 06/30/26
777-4 -9.00%
on 07/24/26
+1-6 (+0.25%)
since 04/30/26
52-Week
542-6 +30.35%
on 10/14/25
777-4 -9.00%
on 07/24/26
+109-2 (+18.26%)
since 07/30/25

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ZLZ26 : 66.90s (-0.58%)
ZMZ26 : 321.2s (-0.50%)
ZSPX26US.CM : 11.2850 (-0.29%)
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ZSQ26 : 1172-0s (-0.45%)
ZSU26 : 1170-6s (-0.13%)
Wheat Collapses to Close out July

The wheat complex fell into the weekend, with losses across the three exchanges as money was coming out at the end of the month. Chicago SRW contracts were down 18 ¼ to 24 ¼ cents at the close. September...

KEZ26 : 723-6s (-3.08%)
KEU26 : 707-4s (-3.18%)
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ZWZ26 : 657-4s (-3.52%)
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ZCZ26 : 464-0s (-0.96%)
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Wheat Collapsing to Close out July

The wheat complex is giving back the Thursday gains plus some, with losses across the three exchanges as money comes out at the end of the month. Chicago SRW contracts are falling 27 to 28 cents across...

KEZ26 : 723-6s (-3.08%)
KEU26 : 707-4s (-3.18%)
MWU26 : 6.8975s (-3.06%)
ZWU26 : 639-2s (-3.65%)
ZWZ26 : 657-4s (-3.52%)
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ZSPAUS.CM : 11.4131 (-0.65%)
ZLZ26 : 66.90s (-0.58%)
ZMZ26 : 321.2s (-0.50%)
ZSPX26US.CM : 11.2850 (-0.29%)
ZSX26 : 1187-4s (-0.11%)
ZSQ26 : 1172-0s (-0.45%)
ZSU26 : 1170-6s (-0.13%)
Corn Falling on Friday as Traders Close Out July

Corn futures are falling with the rest of the grains on Friday, with contracts down to 6 to 8 cents at midday. Spillover from wheat, rains, and month end pressure is a factor. The CmdtyView national average...

ZCZ26 : 464-0s (-0.96%)
ZCZ26 : 464-0s (-0.96%)
ZCU26 : 440-6s (-1.12%)
ZCPZ26US.CM : 4.2744 (-1.39%)
ZCPAUS.CM : 4.1006 (-1.46%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 756-3
2nd Resistance Point 744-7
1st Resistance Point 726-1
Last Price 707-4s
1st Support Level 695-7
2nd Support Level 684-3
3rd Support Level 665-5

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52-Week High 777-4
Last Price 707-4s
Fibonacci 61.8% 687-7
Fibonacci 50% 660-1
Fibonacci 38.2% 632-3
52-Week Low 542-6

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