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Spring Wheat May '18 (MWK18)

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cmdty Insider - Spring Wheat Market Commentary

Tue Oct 16, 7:26AM CDT
Wheat futures are trading 1 to 2 cents lower this morning. They ended Monday with most contracts 4 1/2 to 7 3/4 cents higher. The USDA weekly Export Inspections report showed 450,980 MT shipped in the week ending Oct 11. That was slightly higher than the previous week and 38.48% better than this time last year. NASS reported that 65% of the winter wheat crop was planted as of the 14th, lagging the average pace by 2% as rains in the Plains slows progress. Emergence was 3% faster than normal at 44%. Russia’s IKAR added 0.7 MMT to their country’s wheat production estimate, now at 70.5 MMT. That is less than a week after USDA trimmed their projection to 70 MMT.--provided by Brugler Marketing & Management, Call (402) 289-2330

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) CST
Exchange
MGEX
Point Value
$50
Margin/Maintenance
$1,950/1,500
First Notice Date
04/30/18
Expiration Date
05/14/18 (expired)

Seasonal Chart

Daily price change for Spring Wheat May '18
Average price change for the 5 prior May contracts

Commitment of Traders Positions as of Oct 9, 2018

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Commercials - Long / Short
34,617 (-891)
29,174 (-173)
Non-Commercials - Long / Short
13,920 (+111)
16,938 (-1,168)
Producers - Long / Short
30,726 (-620)
29,114 (-78)
Swap Dealers - Long / Short
3,831 (-176)
0 (unch)
Managed Money - Long / Short
7,902 (+4)
11,197 (-618)
Other Reportables - Long / Short
6,018 (+107)
5,741 (-550)
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Price Performance

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Period Period Low Period High Performance
1-Month
585-0 +4.87%
on 04/24/18
631-2 -2.81%
on 05/03/18
-3-4 (-0.57%)
since 04/13/18
3-Month
571-0 +7.44%
on 04/04/18
636-0 -3.54%
on 03/01/18
+1-0 (+0.16%)
since 02/14/18
52-Week
569-0 +7.82%
on 05/16/17
792-6 -22.61%
on 07/05/17
+38-2 (+6.65%)
since 05/12/17

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Barchart Technical Opinion

The Barchart Opinion rating is a Hold. Short term, the outlook is Falling.

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Key Turning Points

2nd Resistance Point 613-4
1st Resistance Point 613-4
Last Price 613-4s
1st Support Level 613-4
2nd Support Level 613-4

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52-Week High 792-6
Fibonacci 61.8% 707-2
Fibonacci 50% 680-7
Fibonacci 38.2% 654-4
Last Price 613-4s
52-Week Low 569-0

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