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Spring Wheat Jul '23 (MWN23)

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Spring Wheat Futures Market News and Commentary

Wheat Falls Lower on Tuesday

The wheat complex continued losses into the Tuesday close. Chicago SRW futures were 9 to 11 1/4 cents lower across most contracts. KC HRW futures were 6 to 7 cents in the red at the close. MPLS spring wheat was down 2 to 3 3/4 cents across the front months. Large world supplies among major exporters is looming over the market. 

The forecast for the next week calls for a dry pattern in much of the Southern Plains. The 7-day QPF from NOAA shows SRW country with as much as an inch.

The French farm ministry estimates the country 2026 soft wheat acreage at 4.56 million hectares (11.25 million acres), up 0.1 million ha from last year (0.24 million acres).  EU soft wheat exports totaled 10.5 MMT since July 1 to December 14, now lagging last year by 0.3 MMT.

Mar 26 CBOT Wheat  closed at $5.09 1/2, down 11 1/4 cents,

May 26 CBOT Wheat  closed at $5.19 1/2, down 9 1/2 cents,

Mar 26 KCBT Wheat  closed at $5.05, down 7 cents,

May 26 KCBT Wheat  closed at $5.1... 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
$1,760/1,600
First Notice Date
06/30/23
Expiration Date
07/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Nov 25, 2025

View Chart Details
Commercials - Long / Short
43,098 (-9,438)
21,930 (-6,274)
Non-Commercials - Long / Short
13,859 (+1,550)
33,771 (-3,611)
Producers - Long / Short
40,178 (-8,401)
21,017 (-6,056)
Swap Dealers - Long / Short
2,813 (-764)
806 (+55)
Managed Money - Long / Short
11,414 (+931)
33,189 (-3,572)
Other Reportables - Long / Short
2,445 (+619)
582 (-39)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
802-0 +4.61%
on 06/30/23
891-0 -5.84%
on 06/22/23
+29-6 (+3.68%)
since 06/14/23
3-Month
769-0 +9.10%
on 05/03/23
895-2 -6.28%
on 04/18/23
-34-2 (-3.92%)
since 04/14/23
52-Week
769-0 +9.10%
on 05/03/23
1025-6 -18.21%
on 10/10/22
-104-0 (-11.03%)
since 07/14/22

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Most Recent Stories

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Wheat Falls Lower on Tuesday

The wheat complex continued losses into the Tuesday close. Chicago SRW futures were 9 to 11 1/4 cents lower across most contracts. KC HRW futures were 6 to 7 cents in the red at the close. MPLS spring...

KEK26 : 517-4 (unch)
KEH26 : 504-6 (-0.05%)
MWH26 : 5.6600 (+0.13%)
ZWH26 : 510-4 (+0.20%)
ZWK26 : 521-0 (+0.29%)
Grain Spreads: Fund Liquidations

Beans Continue to Fall

Shootin' the Bull about negative margins

Exposing the procurement of inventory to place on feed, in a projected negative margin, is not believed a foretelling event for a higher or lower price.

Corn Falling at Midday

Corn futures are showing losses of 3 to 3 ¼ cents in the front months on Tuesday. The CmdtyView national average Cash Corn price is down 3 1/4 cents to $3.92 1/2. Pressure is coming from losses in wheat...

ZCZ25 : 431-4s (-0.86%)
ZCK26 : 445-4 (+0.22%)
ZCH26 : 438-0 (+0.34%)
ZCPAUS.CM : 3.9164 (-0.81%)
Wheat Collapsing on Tuesday

The wheat complex is continuing the losses at midday on Tuesday. Chicago SRW futures are 9 to 11 3/4 cents lower across most contracts. KC HRW futures are 6 to 7 cents in the red at midday. MPLS spring...

KEK26 : 517-4 (unch)
KEH26 : 504-6 (-0.05%)
MWH26 : 5.6600 (+0.13%)
ZWH26 : 510-4 (+0.20%)
ZWK26 : 521-0 (+0.29%)
Soybeans Posting Tuesday Losses, as October Gaps Get Filled

Soybeans are trading with double digit losses at midday, with contracts down 10 to 11 cents. The market has now given back all of the China soybean rally, as futures filled the October chart gaps this...

ZSPAUS.CM : 9.9206 (-0.87%)
ZLH26 : 48.67 (-0.49%)
ZMH26 : 307.2 (+0.36%)
ZSX25 : 1112-6s (-1.70%)
ZSF26 : 1063-0 (+0.02%)
ZSH26 : 1072-4 (+0.07%)
The Daily Grind

Grain futures are grinding lower yet again, with wheat leading the way. How much more downside is left into the end of the yeaer?

Wheat Trading Lower on Tuesday Morning

Wheat is showing losses across the three markets early on Tuesday. The wheat complex was under pressure on Monday. Chicago SRW futures were 8 to 9 cents lower across most contracts to start the week. New...

KEK26 : 517-4 (unch)
KEH26 : 504-6 (-0.05%)
MWH26 : 5.6600 (+0.13%)
ZWH26 : 510-4 (+0.20%)
ZWK26 : 521-0 (+0.29%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 839-0
2nd Resistance Point 839-0
1st Resistance Point 839-0
Last Price 839-0s
1st Support Level 839-0
2nd Support Level 839-0
3rd Support Level 839-0

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52-Week High 1025-6
Fibonacci 61.8% 927-5
Fibonacci 50% 897-3
Fibonacci 38.2% 867-1
Last Price 839-0s
52-Week Low 769-0

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