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Spring Wheat Sep '20 (MWU20)

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Spring Wheat Futures Market News and Commentary

Wheat Fades for Mixed Midweek Close

Wednesday wheat trading ended with the complex mixed and well below the intra day highs. CBT futures faded back to end fractionally lower to 1 1/4 cents higher. KC futures closed the weakest on Wednesday, down by a 1/2 to 2 cents. Spring wheat also pulled back in the afternoon, but still posted 5 3/4 to 12 1/2 cent gains on heat and drought concerns. 

Ahead of USDA’s weekly Export Sales report, traders anticipate between 200k and 500k MT of wheat was sold during the week ending 6/10. 

Japan is tendering for 207,472 MT of wheat – with 109,062 MT to be U.S. specific. 

Jul 21 CBOT Wheat  closed at $6.62 3/4, up 1 1/4 cents,

Cash SRW Wheat  was $6.40 1/4, up 1 3/8 cents,

Jul 21 KCBT Wheat  closed at $6.10 3/4, down 2 cents,

Cash HRW Wheat  was $5.80 1/1, down 2 cents,

Jul 21 MGEX Wheat  closed at $7.60 1/4, up 12 1/2 cents,

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
$3,315/2,550
First Notice Date
08/31/20
Expiration Date
09/14/20 (expired)

Seasonal Chart

Spring Wheat Sep '20
Average Price Chart for 5 Prior Sep Contracts

Commitment of Traders Positions as of Jun 8, 2021

View Chart Details
Commercials - Long / Short
36,474 (+1,714)
61,222 (+2,766)
Non-Commercials - Long / Short
19,513 (+432)
3,077 (+140)
Producers - Long / Short
31,382 (+897)
60,017 (+1,996)
Swap Dealers - Long / Short
4,687 (+847)
800 (+800)
Managed Money - Long / Short
14,273 (-47)
683 (-175)
Other Reportables - Long / Short
5,240 (+479)
2,394 (+315)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
499-2 +2.75%
on 08/17/20
529-6 -3.16%
on 08/27/20
+15-4 (+3.12%)
since 08/14/20
3-Month
490-4 +4.59%
on 08/10/20
538-0 -4.65%
on 06/18/20
-12-2 (-2.33%)
since 06/12/20
52-Week
490-4 +4.59%
on 08/10/20
592-4 -13.42%
on 09/26/19
-41-0 (-7.40%)
since 09/13/19

More Spring Wheat Quotes

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Most Recent Stories

More News
Wheat Fades for Mixed Midweek Close

Wednesday wheat trading ended with the complex mixed and well below the intra day highs. CBT futures faded back to end fractionally lower to 1 1/4 cents higher. KC futures closed the weakest on Wednesday,...

ZWN21 : 662-6s (+0.19%)
ZWPAES.CM : 6.4029 (+0.22%)
KEN21 : 610-6s (-0.33%)
KEPAWS.CM : 5.8100 (-0.33%)
MWN21 : 760-2s (+1.67%)
Corn Closes Mixed

After fading midday gains in the afternoon, corn futures ended the day mixed. Old crop July futures closed 5 1/2 cents in the black. New crop prices gave back their double digit gains to end the midweek...

ZCN21 : 673-0s (+0.82%)
ZCPAUS.CM : 6.7875 (+0.73%)
ZCU21 : 588-4s (-0.55%)
ZCZ21 : 572-4s (-0.22%)
ZCPZ21US.CM : 5.4876 (-0.25%)
Beans Close Mixed Mostly Lower

The soy complex will trade with the expanded limits on Thursday following the 350 point losses in soybean oil. Soybeans closed 17 1/4 to 30 1/4 cents in the red, and are allotted $1.50 per bushel limits...

CSN21 : 68-4s (-8.36%)
ZSN21 : 1448-4s (-1.18%)
ZSPAUS.CM : 14.1589 (-1.41%)
ZSQ21 : 1402-0s (-1.68%)
ZSX21 : 1343-2s (-2.20%)
ZSPX21US.CM : 12.9084 (-2.33%)
Grain Spreads: Soy Correction

Ten Percent Correction for Old and New Crop Soybeans

Shootin' the Bull

The new contract high in the August is not arguable.  All that can be done now is add the fact to the equation and continue deciphering information.

Midday Beans in Red

Wednesday’s soy complex is mixed at midday with meal in the black. Soybean futures are trading 4 3/4 to 10 cents lower. Soymeal prices are 2% to 2.36% higher at midday, with BO down by more than 4%. ...

XSQ21 : 4,117s (-0.94%)
ZSN21 : 1448-4s (-1.18%)
ZSPAUS.CM : 14.1589 (-1.41%)
ZSQ21 : 1402-0s (-1.68%)
ZSX21 : 1343-2s (-2.20%)
ZSPX21US.CM : 12.9084 (-2.33%)
Corn Prices Higher at Midday

Midweek corn futures are trading 5 1/2 to 6 1/2 cents higher in new crop and 15 1/2 cents higher for old crop July.  USDA reported a large new crop corn export sale this morning export sale this morning...

ZCN21 : 673-0s (+0.82%)
ZCPAUS.CM : 6.7875 (+0.73%)
ZCU21 : 588-4s (-0.55%)
ZCZ21 : 572-4s (-0.22%)
ZCPZ21US.CM : 5.4876 (-0.25%)
Wheat Gaining Alongside Corn

Wheat is in the black through midday. CBT futures are up 5 3/4 to 8 1/4 cents. HRW futures are in the black with midday gains of 4 to 7 cents. Spring wheat futures are trading 14 to 21 1/2 cents in the...

ZWN21 : 662-6s (+0.19%)
ZWPAES.CM : 6.4029 (+0.22%)
KEN21 : 610-6s (-0.33%)
KEPAWS.CM : 5.8100 (-0.33%)
MWN21 : 760-2s (+1.67%)
Hard Red Cash Wheat Spread: Protein Powered

The protein market is a key component of the various wheat markets.  Spring wheat historically has higher protein levels, so when production is threatened the market cranks into high gear as millers search...

MWPAUS.CM : 7.0896 (+1.89%)
KEPAUS.CM : 5.8772 (-0.32%)
The Rain In Spain Is Not Falling On the U.S. Plains. The Corn & Ethanol Report 06/16/2021

We kickoff the day with MBA Mortgage Applications (11/JUN) and MBA 30-Year Mortgage Rate (11/JUN) at 6:00 A.M., Housing Starts & Permits, Import and Export Prices YoY and MoM (MAY) at 7:30 A.M., EIA Energy...

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 513-0
1st Resistance Point 513-0
Last Price 513-0s
1st Support Level 513-0
2nd Support Level 513-0
3rd Support Level N/A

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52-Week High 592-4
Fibonacci 61.8% 553-4
Fibonacci 50% 541-4
Fibonacci 38.2% 529-4
Last Price 513-0s
52-Week Low 490-4

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