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Spring Wheat May '23 (MWK23)
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Spring Wheat Futures Market News and Commentary

Wheat Futures Gain to Start the Week

At the close on Friday, wheat futures were up 9 1/2 to 16 cents. MPLS HRS futures led the way with gains of as much as 1.9%. KC wheat futures were up 1.4% to 1.6% on the day. CBT SRW ended with 1.4% gains across the front months. 

State winter wheat conditions scored a 243 on the Brugler500 index for KS on 3/26. That was down from 246 last week. Texas conditions dropped 15 points to a 250 on the index. In Oklahoma, conditions improved 20 points on the week to a Brugler500 score of 287. 

The weekly Export Inspections report had 392,484 MT of wheat shipments for the week that ended 3/23. That was up 17k from last week and 49k MT from the same week last year. The report showed 36% was HRW and 31% was white wheat. Mexico and China were the week’s top destinations. Accumulated wheat exports were marked at 16.679 MMT as of 3/23, trailing last year’s pace by 220k MT. 

Survey results going into NASS’s quarterly Grain Stocks report have wheat marked at 928 mbu on average. T... 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
$3,300/3,000
First Notice Date
04/28/23 (31 days)
Expiration Date
05/12/23 (45 days)

Seasonal Chart

Spring Wheat May '23
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Mar 21, 2023

View Chart Details
Commercials - Long / Short
33,855 (+1,196)
33,162 (+3,266)
Non-Commercials - Long / Short
10,823 (+897)
10,936 (-239)
Producers - Long / Short
32,379 (+1,199)
33,031 (+3,236)
Swap Dealers - Long / Short
1,364 (-14)
19 (+19)
Managed Money - Long / Short
7,726 (+1,123)
10,350 (-700)
Other Reportables - Long / Short
3,097 (-226)
586 (+461)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
814-0 +7.00%
on 03/10/23
880-6 -1.11%
on 03/27/23
+4-2 (+0.49%)
since 02/28/23
3-Month
814-0 +7.00%
on 03/10/23
928-4 -6.19%
on 02/21/23
-50-2 (-5.45%)
since 12/28/22
52-Week
814-0 +7.00%
on 03/10/23
1358-6 -35.90%
on 05/17/22
-168-4 (-16.21%)
since 03/28/22

More Spring Wheat Quotes

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Most Recent Stories

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Discover how HTS Commodities can assist with your risk management or investment requirements. Contact Scott Strand Direct 612-486-4624 | scott.strand@hilltopsecurities.com

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Wheat Futures Gain to Start the Week

At the close on Friday, wheat futures were up 9 1/2 to 16 cents. MPLS HRS futures led the way with gains of as much as 1.9%. KC wheat futures were up 1.4% to 1.6% on the day. CBT SRW ended with 1.4% gains...

ZWK23 : 696-2 (-0.25%)
ZWN23 : 707-4 (-0.28%)
ZWPAES.CM : 6.4248 (+1.48%)
KEK23 : 860-2 (unch)
KEPAWS.CM : 8.2389 (+1.50%)
MWK23 : 870-4 (-0.34%)
Soybeans Rally to Start the Week

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ZSK23 : 1445-6 (+0.24%)
ZSPAUS.CM : 14.1260 (+1.14%)
ZSN23 : 1424-2 (+0.25%)
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The corn market continued its rally, with 5 1/4 to 9 1/2 cent gains on Monday. December futures led the way with a 1.7% gain and a close just 1/4 cent off the high for the day. USDA reported a private...

ZCK23 : 646-6 (-0.23%)
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ZCN23 : 627-6 (-0.32%)
ZCU23 : 577-0 (-0.26%)
Livestock Report

Cattle markets surge

Here are the key levels Soybeans, Corn and Wheat are rallying from.

Educational and Actionable Information using Fibonacci and W.D. Gann Analysis

Grain Markets Firm as Traders Position for Friday’s USDA Report

Grain markets were able to rally in today’s trade as market participants jockey for position ahead of Friday’s USDA report.

Livestock Markets Surge

Livestock futures were sharply higher in today's trade. We discussed how fund positioning may impact price as well as an upcoming seasonal.

Title: 2023 corn acreage estimate and HRW/CHI wheat spread at record highs

Discover how HTS Commodities can assist with your risk management or investment requirements. Contact Scott Strand Direct 612-486-4624 | scott.strand@hilltopsecurities.com

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 911-2
2nd Resistance Point 896-0
1st Resistance Point 884-6
Last Price 870-4
1st Support Level 858-2
2nd Support Level 843-0
3rd Support Level 831-6

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52-Week High 1358-6
Fibonacci 61.8% 1150-5
Fibonacci 50% 1086-3
Fibonacci 38.2% 1022-1
Last Price 870-4
52-Week Low 814-0

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