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Spring Wheat Mar '22 (MWH22)

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Spring Wheat Futures Market News and Commentary

Wheats Down Double Digits

Front month wheat futures are down with double digit weakness into the week’s end. Chicago futures are 17 1/2 to 20 cents weaker. KC wheat futures are trading with 29 3/4 to 31 cent losses. Spring wheat futures are the weakest with +3% drops of as much as 43 3/4 cents. May ’23 spring wheat is firm at a 2 3/4 cent loss, now a 22 1/2 cent carry from the March ’23 contract. Midday Oats Futures Prices  are also down by 8 1/2 to 18 1/4 cents. 

The Hard Winter Wheat Quality Tour pegged the Kansas crop yield at 39.7 bpa, vs. 58.1 bpa in 2021. That was below the previous 5-year average of 47.4 bpa, but is just the 5th lowest since 2010. Planalytics estimates the US winter wheat yield at 48.7 bpa, from their initial 48.8 bpa estimate. 

The International Grains Council forecasted 22/23 wheat output as 769 MMT, compared to their earlier 780 MMT estimate. Indian production was trimmed to 105 MMT. 

Canadian wheat planting in Saskatchewan was 33% complete as of 5/16, trailing th... Read more

Contract Specifications

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Contract
Hard Red Spring 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. - 1:30p.m. (Sun-Fri) (Settles 1:30p.m.) CST
Exchange
MGEX
Point Value
$50
Margin/Maintenance
$3,960/3,600
First Notice Date
02/28/22
Expiration Date
03/14/22 (expired)

Seasonal Chart

Spring Wheat Mar '22
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of May 17, 2022

View Chart Details
Commercials - Long / Short
32,333 (+1,809)
62,048 (+1,509)
Non-Commercials - Long / Short
25,917 (-667)
1,637 (+146)
Producers - Long / Short
30,108 (+1,762)
60,584 (+1,516)
Swap Dealers - Long / Short
1,855 (-16)
1,094 (-70)
Managed Money - Long / Short
18,965 (-309)
955 (-62)
Other Reportables - Long / Short
6,952 (-358)
682 (+208)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
943-0 +16.57%
on 02/25/22
1183-6 -7.14%
on 03/07/22
+146-2 (+15.35%)
since 02/15/22
3-Month
872-2 +26.02%
on 01/18/22
1183-6 -7.14%
on 03/07/22
+90-0 (+8.92%)
since 12/15/21
52-Week
635-2 +73.04%
on 04/01/21
1183-6 -7.14%
on 03/07/22
+436-0 (+65.74%)
since 03/15/21

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Most Recent Stories

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Front month corn futures are working near their day’s lows with 5 1/2 to 6 1/2 cent losses so far. USDA reported the weekly average corn oil cash price as between 80.88 cents and 82.14 cents regionally,...

ZCN22 : 778-6s (-0.57%)
ZCPAUS.CM : 7.6954 (-0.56%)
ZCU22 : 747-0s (-0.47%)
ZCZ21 : 588-6s (+0.77%)
ZCPZ21US.CM : 5.7930 (-0.49%)
Wheats Down Double Digits

Front month wheat futures are down with double digit weakness into the week’s end. Chicago futures are 17 1/2 to 20 cents weaker. KC wheat futures are trading with 29 3/4 to 31 cent losses. Spring wheat...

ZON22 : 612-6s (-2.39%)
ZWN22 : 1168-6s (-2.64%)
ZWPAES.CM : 11.0916 (-2.78%)
KEN22 : 1252-6s (-3.28%)
KEPAWS.CM : 11.9914 (-3.41%)
MWN22 : 1279-0s (-3.87%)
Beans Extending Gains into Weekend

So far for Friday, soybean futures are 4 1/4 to 11 1/4 cents higher. Soybean meal futures are firming another $1 to $2.90/ton higher. BO is back up by 66 to 147 points after the declines Wednesday and...

ZSN22 : 1705-2s (+0.87%)
ZSPAUS.CM : 16.7345 (+0.82%)
ZSQ22 : 1641-6s (+0.69%)
ZSX21 : 1234-0s (+1.79%)
ZSPX21US.CM : 12.3270 (+1.90%)
Top Farmer Midday Update 05-20-2022

TFM Cash+ Take the Stress Out of Your Marketing Strategy. No hedge account. No margin calls. Just comprehensive, common-sense guidance at a great value. Learn more: https://www.totalfarmmarketing.com/tfm-cash-plus/...

Beans Mixed to Start Friday

Soybean futures are posting mixed trade this AM, with the front months up another 2 to 3 ¼ cents and new crop fractionally lower. They rallied from overnight weakness on Thursday, ending the day with...

ZSN22 : 1705-2s (+0.87%)
ZSPAUS.CM : 16.7345 (+0.82%)
ZSQ22 : 1641-6s (+0.69%)
ZSX21 : 1234-0s (+1.79%)
ZSPX21US.CM : 12.3270 (+1.90%)
Wheat Weaker Following Overnight Trade

Wheat futures are trading 9 to 14 cents lower across the three markets following the overnight trade session. They collapsed again on Thursday with all three markets sharply lower. The winter wheats led...

ZWN22 : 1168-6s (-2.64%)
ZWPAES.CM : 11.0916 (-2.78%)
ZWN22 : 1168-6s (-2.64%)
KEN22 : 1252-6s (-3.28%)
KEPAWS.CM : 11.9914 (-3.41%)
KEN22 : 1252-6s (-3.28%)
MWN22 : 1279-0s (-3.87%)
MWU22 : 1278-6s (-3.78%)
Corn Weaker on Friday Morning

Corn futures are trading 7 to 7 ¾ cents lower as we look ahead to the weekend. They settled mixed on Thursday, with July up 1 ¾ and other contracts out to July ’23 down 2 ¾ to 4 ¾ cents. Deferred...

ZCN22 : 778-6s (-0.57%)
ZCPAUS.CM : 7.6954 (-0.56%)
ZCU22 : 747-0s (-0.47%)
ZCZ21 : 588-6s (+0.77%)
ZCPZ21US.CM : 5.7930 (-0.49%)
Morning Comments; Friday, May 20th, 2022

Markets Lack Buying Interest

TFM Sunrise Update May20, 2022

CORN Corn futures are down a nickel this morning to 7.78-1/4 (July) and 7.31 (Dec). Long liquidation and profit taking continues weigh on the corn market into the weekend after July futures rejectedkey...

Soybeans Post Rally on Thursday

Beans rallied from overnight weakness on Thursday with gains of 13 to 27 ¾ cents at the close. Meal was a large supporting factor, up $11.30/ton in the July contract. Soybean oil was a drag on the market,...

ZSN22 : 1705-2s (+0.87%)
ZSPAUS.CM : 16.7345 (+0.82%)
ZSQ22 : 1641-6s (+0.69%)
ZSX21 : 1234-0s (+1.79%)
ZSPX21US.CM : 12.3270 (+1.90%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 1099-2
2nd Resistance Point 1099-2
1st Resistance Point 1099-2
Last Price 1099-2s
1st Support Level 1099-2
2nd Support Level 1099-2
3rd Support Level 1099-2

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52-Week High 1183-6
Last Price 1099-2s
Fibonacci 61.8% 974-2
Fibonacci 50% 909-4
Fibonacci 38.2% 844-6
52-Week Low 635-2

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