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Hard Red Winter Wheat Dec '25 (KEZ25)

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Hard Red Winter Wheat Futures Market News and Commentary

Wheat Rallies on Wednesday following Black Sea Escalation

The wheat complex was in rally mode leading to the grains higher on Wednesday, with export concerns out of the Black Sea. Chicago SRW contracts were mostly 26 to 32 1/2 cents in the green at the close. KC HRW futures were 23 ¾ to 42 cents in the front months, after hitting the 45 cent limit during the session. MPLS spring wheat was 22 to 27 1/4 cents higher on the day.

Russian exports through the Kerch Strait are still limited following last week’s report of restrictions. Overnight, Russia struck several port locations in Odesa, Ukraine in retaliation to recent Ukrainian strikes on Russian tankers in the Sea of Azov. 

The weekly USDA Export Sales report will be out on Thursday morning, as traders surveyed by Reuters are looking for between 250,000 and 600,000 MT of wheat sales during the week of July 9.

Taiwan importers purchased a total of 98,150 MT of wheat from the US overnight. 

Sep 26 CBOT Wheat  closed at $6.79 1/4, up 34 1/4 cents,

Dec 26 CBOT Wh... 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
11/28/25
Expiration Date
12/12/25 (expired)

Seasonal Chart

Hard Red Winter Wheat Dec '25
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Jul 7, 2026

View Chart Details
Commercials - Long / Short
113,072 (+1,261)
103,724 (+6,230)
Non-Commercials - Long / Short
70,054 (+3,656)
76,067 (-670)
Producers - Long / Short
28,793 (+1,003)
97,343 (+7,973)
Swap Dealers - Long / Short
81,998 (+1,735)
4,100 (-266)
Managed Money - Long / Short
63,305 (+3,735)
54,576 (-32)
Other Reportables - Long / Short
6,749 (-79)
21,491 (-638)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
498-6 unch
on 12/12/25
534-0 -6.60%
on 11/14/25
-26-6 (-5.09%)
since 11/12/25
3-Month
477-2 +4.50%
on 10/14/25
540-0 -7.64%
on 11/05/25
-16-0 (-3.11%)
since 09/12/25
52-Week
477-2 +4.50%
on 10/14/25
682-6 -26.95%
on 02/19/25
-107-2 (-17.70%)
since 12/12/24

More Hard Red Winter Wheat Quotes

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Most Recent Stories

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Wheat Rallies on Wednesday following Black Sea Escalation

The wheat complex was in rally mode leading to the grains higher on Wednesday, with export concerns out of the Black Sea. Chicago SRW contracts were mostly 26 to 32 1/2 cents in the green at the close....

KEZ26 : 733-2s (+5.88%)
KEU26 : 720-0s (+6.19%)
MWU26 : 6.8325s (+3.84%)
ZWU26 : 677-4s (+5.04%)
ZWZ26 : 692-0s (+4.89%)
Grain Spreads: Funds Getting Long

Dec 26/Dec 27 Corn Spread Eyed

Wheat futures SKYROCKET, pulling corn and beans higher in Wednesday's trade!

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Shootin' the Bull about turning corners

The price erosion has created an exceptionally wide positive basis, leaving producers with the aspect of "damned if you do and damned if you don't."

Corn Back to Rallying on Wednesday Despite Weaker Ethanol Data

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ZCZ26 : 469-4s (+1.95%)
ZCU26 : 447-4s (+2.05%)
ZCPZ26US.CM : 4.3235 (+2.14%)
ZCPAUS.CM : 4.1652 (+2.15%)
Soybeans Holding onto Midweek Gains as NOPA Reports a Large June Crush

Soybeans are up 5 to 8 cents so far on Wednesday. The cmdtyView national average Cash Bean price is up 6 1/4 cents $11.52. Soymeal futures are down 40 cents to $1 higher, with Soy Oil futures 3 to 14 points...

ZSPAUS.CM : 11.5602 (+0.88%)
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ZSX26 : 1201-6s (+0.90%)
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Wheat Sees Midday Limit Gains on Black Sea Escalation

The wheat complex is in rally mode to the lead the grains higher on Wednesday, with export concerns out of the Black Sea. Chicago SRW contracts are 35 to 36 cents in the green at midday. KC HRW futures...

KEZ26 : 733-2s (+5.88%)
KEU26 : 720-0s (+6.19%)
MWU26 : 6.8325s (+3.84%)
ZWU26 : 677-4s (+5.04%)
ZWZ26 : 692-0s (+4.89%)
Wheat: Is CBOT forming a Head and Shoulder pattern?

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 504-1
2nd Resistance Point 503-1
1st Resistance Point 500-7
Last Price 498-6s
1st Support Level 497-5
2nd Support Level 496-5
3rd Support Level 494-3

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52-Week High 682-6
Fibonacci 61.8% 604-2
Fibonacci 50% 580-0
Fibonacci 38.2% 555-6
Last Price 498-6s
52-Week Low 477-2

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