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Spring Wheat Sep '08 (MWU08)

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Spring Wheat Futures Market News and Commentary

Wheat Closes with Mixed Trade on Friday

The wheat complex saw continued weakness on Friday, though a few contracts did end higher. Chicago SRW futures were 1 ¾ to 6 cents in the red on the day, as July fell 30 ½ cents on the week. KC HRW futures saw a ½ cent gain in July on Friday, as the rest of the board was ½ to 6 cents lower, with July down 29 cents this week. MPLS spring wheat was down 1 ½ to 3 cents higher in most contracts, as July fell 44 ¼ cents since last Friday. Crude oil losses of $2.79 added some modest pressure.

Weekly Commitment of Traders data from CFTC showed managed money in Chicago wheat futures and options with the largest Tuesday/Tuesday bear move on record (back to 2006), adding 39,165 contracts to their net short at 57,871 contracts by June 2. In Kansas City wheat futures and options, specs trimmed their net long position by 13,393 contracts to 13,477 contracts as of Tuesday.

USDA Export Sales data has the new crop wheat sales commitments at 3.925 MMT, which is now down 26.44% from the s... 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 Ag
Point Value
$5,000
Expiration Date
09/12/08 (expired)

Seasonal Chart

Spring Wheat Sep '08
Average Price Chart for 5 Prior Sep Contracts

Commitment of Traders Positions as of Jun 2, 2026

View Chart Details
Commercials - Long / Short
42,229 (+4,033)
64,628 (-2,554)
Non-Commercials - Long / Short
32,244 (-3,736)
10,079 (+2,903)
Producers - Long / Short
38,221 (+3,275)
63,875 (-3,097)
Swap Dealers - Long / Short
3,717 (+677)
462 (+462)
Managed Money - Long / Short
26,735 (-2,948)
8,446 (+2,365)
Other Reportables - Long / Short
5,509 (-788)
1,633 (+538)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
770-6 +0.10%
on 09/10/08
993-6 -22.36%
on 08/21/08
-119-6 (-13.44%)
since 08/12/08
3-Month
770-6 +0.10%
on 09/10/08
1037-0 -25.60%
on 06/27/08
-172-4 (-18.27%)
since 06/12/08
52-Week
590-0 +30.76%
on 09/14/07
1402-2 -44.98%
on 02/27/08
+171-4 (+28.58%)
since 09/12/07

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Wheat Closes with Mixed Trade on Friday

The wheat complex saw continued weakness on Friday, though a few contracts did end higher. Chicago SRW futures were 1 ¾ to 6 cents in the red on the day, as July fell 30 ½ cents on the week. KC HRW futures...

KEU26 : 631-4s (-0.08%)
KEN26 : 620-6s (+0.08%)
MWN26 : 6.1950s (-0.24%)
ZWN26 : 580-0s (-0.30%)
ZWU26 : 592-6s (-0.42%)
Shootin' the Bull about an easy comment

I have no idea what the next most probable move will be in price for fats or feeders in the futures market.

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Wheat Facing Losses at Midday

The wheat complex is showing modest losses on Friday. Chicago SRW futures are 1 to 2 cents in the red so far on the day. KC HRW futures are 2 to 3 cents in the red at midday. MPLS spring wheat is down...

KEU26 : 631-4s (-0.08%)
KEN26 : 620-6s (+0.08%)
MWN26 : 6.1950s (-0.24%)
ZWN26 : 580-0s (-0.30%)
ZWU26 : 592-6s (-0.42%)
Corn Bears Piling on at Midday

Corn futures are trading with losses of 5 to 7 cents across most contracts on Friday. The CmdtyView national average Cash Corn price is 6 1/2 cents at $3.84 1/2. Crude oil losses of $3.01 continue to add...

ZCZ26 : 446-0s (-1.27%)
ZCU26 : 427-0s (-1.33%)
ZCN26 : 417-4s (-1.65%)
ZCPZ26US.CM : 4.1015 (-1.39%)
ZCPAUS.CM : 3.8328 (-1.73%)
Soybeans Posting Weakness on Friday

Soybeans are showing losses of 7 to 10 cents in most contracts on Friday. The cmdtyView national average Cash Bean price is down 9 1/2 cents at $10.60 1/2. Soymeal futures are down $3.50 to $4.60 in the...

ZSPAUS.CM : 10.6314 (-0.64%)
ZLN26 : 74.12s (-2.84%)
ZMN26 : 308.5s (-1.66%)
ZSPX26US.CM : 10.7052 (-0.39%)
ZSX26 : 1137-4s (-0.35%)
ZSN26 : 1121-4s (-0.71%)
ZSQ26 : 1126-0s (-0.57%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 771-4
1st Resistance Point 771-4
Last Price 771-4s
1st Support Level 771-4
2nd Support Level 771-4
3rd Support Level N/A

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52-Week High 1402-2
Fibonacci 61.8% 1092-0
Fibonacci 50% 996-1
Fibonacci 38.2% 900-2
Last Price 771-4s
52-Week Low 590-0

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