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Spring Wheat Jul '24 (MWN24)

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Spring Wheat Futures Market News and Commentary

Wheat Closes Lower on Friday

The wheat complex posted weaker trade on Friday across the three markets as March Rolled off the board. Chicago SRW was the weaker of the three, down 5 to 6 cents, with May 5 ¾ cents higher on the week. Kansas City HRW contracts were 1 to 2 cents lower in the front months, as May gained 21 ¼ cents vs. last Friday. MPLS spring wheat was steady to 2 cents in the red, as May was 9 cents higher this week.

The 7-day forecast for NOAA remains relatively dry for much of the Southern Plains. The portions of the SRW country expecting upwards of 1-3 inches. 

Friday’s Commitment of Traders report indicated a total of 4,987 contracts trimmed from the spec fund net short in Chicago wheat, to 77,412 contracts as of 3/11. In KC wheat, managed money added back 9,440 contracts to their net short position as of Tuesday at 48,722 contracts.

FranceAgriMer rated the soft wheat crop in France at 74% gd/ex, even with the week prior. 

Mar 25 CBOT Wheat  closed at $5.45 3/4, up 7 cen... 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
MIAX
Point Value
$50
Margin/Maintenance
$1,870/1,700
First Notice Date
06/28/24
Expiration Date
07/12/24 (expired)

Seasonal Chart

Spring Wheat Jul '24
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Mar 11, 2025

View Chart Details
Commercials - Long / Short
46,253 (+1,867)
24,384 (-3,134)
Non-Commercials - Long / Short
16,018 (-437)
39,137 (+6,397)
Producers - Long / Short
41,576 (+878)
24,136 (-2,339)
Swap Dealers - Long / Short
4,594 (+980)
165 (-804)
Managed Money - Long / Short
10,276 (-343)
35,918 (+8,107)
Other Reportables - Long / Short
5,742 (-94)
3,219 (-1,710)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
594-0 +4.55%
on 06/26/24
675-6 -8.10%
on 06/13/24
-47-2 (-7.07%)
since 06/12/24
3-Month
594-0 +4.55%
on 06/26/24
767-6 -19.11%
on 05/28/24
-29-0 (-4.46%)
since 04/12/24
52-Week
594-0 +4.55%
on 06/26/24
919-0 -32.43%
on 07/25/23
-218-0 (-25.98%)
since 07/12/23

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The corn market closed Friday with front months down 6 to 8 cents in the nearbys as March expired and May dropping 10 ¾ cents on the week. New crop December was down 3 ¼ cents on Friday, with a 4 cent...

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ZCPAUS.CM : 4.2037 (-1.48%)
ZCPZ25US.CM : 4.1596 (-0.26%)
ZCK25 : 458-4s (-1.45%)
ZCN25 : 467-4s (-1.01%)
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ZLK25 : 41.59s (+0.75%)
ZMK25 : 305.9s (-0.39%)
ZSPAUS.CM : 9.5310 (+0.59%)
ZSK25 : 1016-0s (+0.52%)
ZSX25 : 1018-0s (+0.62%)
ZSN25 : 1030-0s (+0.49%)
Wheat Closes Lower on Friday

The wheat complex posted weaker trade on Friday across the three markets as March Rolled off the board. Chicago SRW was the weaker of the three, down 5 to 6 cents, with May 5 ¾ cents higher on the week....

KEN25 : 598-6s (-0.33%)
MWK25 : 601-6s (-0.33%)
KEK25 : 586-0s (-0.26%)
ZWK25 : 557-0s (-0.98%)
ZWN25 : 573-0s (-0.91%)
Grain Spreads: King Corn

Funds Pare Positions Amid Uncertainties

Corn Back to Lower Trade on Friday

Corn futures are trading with 7 to 10 cent losses across the front months on Friday, with New crop down 2 ½ cents. There were no deliveries for March futures overnight, with the contract expiring today....

ZCZ25 : 451-0s (-0.28%)
ZCPAUS.CM : 4.2037 (-1.48%)
ZCPZ25US.CM : 4.1596 (-0.26%)
ZCK25 : 458-4s (-1.45%)
ZCN25 : 467-4s (-1.01%)
Wheat Slipping Back Lower on Friday

The wheat market is showing mostly lower trade on Friday as March futures expires. Chicago SRW futures are mostly 6 to 8 cents in the red. KC HRW futures are down 2 to 3 cents on the session. There were...

KEN25 : 598-6s (-0.33%)
MWK25 : 601-6s (-0.33%)
KEK25 : 586-0s (-0.26%)
ZWK25 : 557-0s (-0.98%)
ZWN25 : 573-0s (-0.91%)
Soybeans Posting Strength at Midday

Soybeans are trading with contracts 4 to 10 cents higher at midday. CmdtyView’s national front month Cash Bean price is up 4 cents at $9.51 1/2. Soymeal futures are down $1.20/ton in the nearbys, with...

ZSPX25US.CM : 9.5534 (+0.66%)
ZLK25 : 41.59s (+0.75%)
ZMK25 : 305.9s (-0.39%)
ZSPAUS.CM : 9.5310 (+0.59%)
ZSK25 : 1016-0s (+0.52%)
ZSX25 : 1018-0s (+0.62%)
ZSN25 : 1030-0s (+0.49%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 621-0
2nd Resistance Point 621-0
1st Resistance Point 621-0
Last Price 621-0s
1st Support Level 621-0
2nd Support Level 621-0
3rd Support Level 621-0

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52-Week High 919-0
Fibonacci 61.8% 794-7
Fibonacci 50% 756-4
Fibonacci 38.2% 718-1
Last Price 621-0s
52-Week Low 594-0

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