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Spring Wheat Jul '19 (MWN19)

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Spring Wheat Futures Market News and Commentary

Wheat Falling After Weak Export Sales Data

The wheat complex is posting losses across the board on Thursday.Chicago SRW futures are down 8 to 9 cents so far on the day. KC HRW is posting 10 to 12 cent lower trade. MPLS spring wheat is showing 8 to 9 cent losses.

Thursday morning’s Export Sales report showed just 246,327 MT in all wheat sales during the week of September 12. That was below the trade’s expectations of 300,000 and 650,000 MT for 2024/25 wheat sales and the lowest since the first week of July. The largest buyer was Mexico of 59,600 MT, as the Philippines bought 57,600 MT. Sales for 2025/26 were in the expected range of 0 to 50,000 MT in that week at 11,500 MT.

Japan purchased a total of 123,012 MT of wheat from Australia, Canada, and the US on Thursday, with 66,397 MT US specific. 

The monthly International Grains Council pegged their latest wheat production estimated at 798 MMT, down 1 MMT from last month. Trade was up 2 MMT to 198 MMT, as the 2024/25 stocks number was up 1 MMT to 267 MMT.  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
$2,090/1,900
First Notice Date
06/28/19
Expiration Date
07/12/19 (expired)

Seasonal Chart

Spring Wheat Jul '19
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Sep 10, 2024

View Chart Details
Commercials - Long / Short
42,508 (-3,088)
23,953 (+2,557)
Non-Commercials - Long / Short
11,693 (+737)
31,556 (-3,981)
Producers - Long / Short
39,478 (-3,310)
23,299 (+2,405)
Swap Dealers - Long / Short
2,854 (+185)
478 (+115)
Managed Money - Long / Short
8,143 (+446)
29,850 (-2,795)
Other Reportables - Long / Short
3,550 (+291)
1,706 (-1,186)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
522-4 +2.63%
on 07/10/19
573-4 -6.50%
on 06/13/19
-28-4 (-5.05%)
since 06/12/19
3-Month
506-0 +5.98%
on 04/30/19
573-4 -6.50%
on 06/13/19
unch (unch)
since 04/12/19
52-Week
506-0 +5.98%
on 04/30/19
673-0 -20.32%
on 08/02/18
-50-4 (-8.61%)
since 07/12/18

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ZMZ24 : 321.6s (+0.06%)
ZLZ24 : 40.93s (+1.54%)
ZSX24 : 1013-2s (-0.07%)
ZSF25 : 1031-2s (-0.07%)
ZSX24 : 1013-2s (-0.07%)
Wheat Falling After Weak Export Sales Data

The wheat complex is posting losses across the board on Thursday.Chicago SRW futures are down 8 to 9 cents so far on the day. KC HRW is posting 10 to 12 cent lower trade. MPLS spring wheat is showing 8...

ZWZ24 : 565-4s (-1.78%)
ZWH25 : 585-0s (-1.72%)
KEZ24 : 564-4s (-2.42%)
KEH25 : 578-2s (-2.28%)
MWZ24 : 607-6s (-1.42%)
Wheat Sliding into Thursday AM

Futures are starting off the Thursday session with 4 to 6 cent lower trade. The wheat complex saw steady to lower trade on the Wednesday session, backing off from the early morning strength. Chicago SRW...

ZWZ24 : 565-4s (-1.78%)
ZWH25 : 585-0s (-1.72%)
KEZ24 : 564-4s (-2.42%)
KEH25 : 578-2s (-2.28%)
MWZ24 : 607-6s (-1.42%)
Corn Slipping Back Lower to Begin Thursday

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Soybeans Down on Thursday Morning

Soybean futures are trading with Thursday morning weakness of 2 to 3 cents. They fell to just slight midday gains on Wednesday, but bulls found some late session strength to close with 5 to 8 cent gains....

ZSPAUS.CM : 9.5140 (-0.06%)
ZMZ24 : 321.6s (+0.06%)
ZLZ24 : 40.93s (+1.54%)
ZSX24 : 1013-2s (-0.07%)
ZSF25 : 1031-2s (-0.07%)
ZSX24 : 1013-2s (-0.07%)
Grains Pullback Overnight. Is this a Buying Opportunity?

Grain markets were weaker in the overnight and early morning trade. More downside to come or is this a buying opportunity?

Grain Spreads: Wheat Examined

Wheat Retraces but Support Holds for Now

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 538-6
1st Resistance Point 537-4
Last Price 536-2s
1st Support Level 533-6
2nd Support Level 531-2
3rd Support Level N/A

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52-Week High 673-0
Fibonacci 61.8% 609-2
Fibonacci 50% 589-4
Fibonacci 38.2% 569-6
Last Price 536-2s
52-Week Low 506-0

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