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Spring Wheat May '23 (MWK23)

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Spring Wheat Futures Market News and Commentary

Wheat Holding Higher on Wednesday

The wheat complex is posting slightly higher trade so far on Wednesday. Chicago SRW futures are trading with 2 cent midday gains in the front months. . KC HRW futures are 1 to 2 cents in the green on Wednesday. MPLS spring wheat is showing 1 to 2 cent gains at midday.

The 7-day forecast from NOAA shows very little precip in the Southern Plains over the next week, with light totals in the SRW area.

Export Sales data will be out on Thursday morning as traders are looking for between 100,000-450,000 MT in 2025/26 wheat bookings in the week of 1/8. Sales for 2026/27 are estimated at 0-50,000 MT. 

The FranceAgriMer estimates the French soft wheat ending stocks at 2.8 MMT, up slightly from last month.

Mar 26 CBOT Wheat  is at $5.12 1/2, up 2 cents,

May 26 CBOT Wheat  is at $5.23 3/4, up 2 cents,

Mar 26 KCBT Wheat  is at $5.21 1/4, up 1 3/4 cents,

May 26 KCBT Wheat  is at $5.32 1/4, up 1 cent,

Mar 26 MIAX Wheat  is at $5.68, up 1 1/2 cents, Read more

Contract Specifications

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Contract
Hard Red Spring Wheat
Contract Size
5,000 bushels
Tick Size
0.0025 dollars per bushel ($12.50 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Sun-Fri) CST
Exchange
MIAX
Point Value
$5,000
Margin/Maintenance
$1,650/1,500
First Notice Date
04/28/23
Expiration Date
05/12/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jan 6, 2026

View Chart Details
Commercials - Long / Short
38,664 (-59)
22,653 (-591)
Non-Commercials - Long / Short
12,847 (-717)
29,122 (-39)
Producers - Long / Short
33,786 (-389)
20,654 (-734)
Swap Dealers - Long / Short
4,411 (+389)
1,532 (+202)
Managed Money - Long / Short
8,861 (-857)
28,665 (-38)
Other Reportables - Long / Short
3,986 (+140)
457 (-1)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
758-2 +9.73%
on 05/02/23
895-4 -7.09%
on 04/18/23
-28-0 (-3.26%)
since 04/12/23
3-Month
758-2 +9.73%
on 05/02/23
928-4 -10.39%
on 02/21/23
-91-0 (-9.86%)
since 02/10/23
52-Week
758-2 +9.73%
on 05/02/23
1358-6 -38.77%
on 05/17/22
-447-4 (-34.97%)
since 05/12/22

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Wheat Holding Higher on Wednesday

The wheat complex is posting slightly higher trade so far on Wednesday. Chicago SRW futures are trading with 2 cent midday gains in the front months. . KC HRW futures are 1 to 2 cents in the green on Wednesday....

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KEK26 : 533-4s (+0.42%)
KEH26 : 522-2s (+0.53%)
MWH26 : 5.6700s (+0.09%)
ZWH26 : 512-4s (+0.39%)
ZWK26 : 523-6s (+0.38%)
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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 832-0
2nd Resistance Point 832-0
1st Resistance Point 832-0
Last Price 832-0s
1st Support Level 832-0
2nd Support Level 832-0
3rd Support Level 832-0

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52-Week High 1358-6
Fibonacci 61.8% 1129-3
Fibonacci 50% 1058-4
Fibonacci 38.2% 987-5
Last Price 832-0s
52-Week Low 758-2

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