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Spring Wheat Sep '21 (MWU21)

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Spring Wheat Futures Market News and Commentary

Wheat Futures Close Lower

At the close for the midweek session wheat futures were in the red. Chicago wheat prices ended the session 2 3/4 to 7 1/4 cents weaker after the afternoon bounce stalled out. Kansas City HRW futures stayed double digits lower for the close. Spring wheat prices on the MGE were 13 1/4 to 17 1/4 cents red for the close. 

Looking ahead to the weekly Export Sales data release, survey results show between 250,000 and 700,000 MT of wheat was booked during the week that ended 7/29.

Japan’s MOA issued a regular tender for 119,435 MT of wheat from U.S., Canada, and Australia. Results are expected Thursday. Taiwan issued a tender seeking 48k MT of U.S. sourced milling wheat. 

The Manitoba Provincial Government noted spring wheat good/ex ratings ranged from just 5% in the Interlake region to 50% for the Southwest fields. The French Ag Ministry estimated wheat output at 36.7 MMT, down from 37.1 MMT citing heat and noting humidity related quality concerns. 

Sep 21 CBOT Whe... 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
$3,315/2,550
First Notice Date
08/31/21 (26 days)
Expiration Date
09/14/21 (40 days)

Seasonal Chart

Spring Wheat Sep '21
Average Price Chart for 5 Prior Sep Contracts

Commitment of Traders Positions as of Jul 27, 2021

View Chart Details
Commercials - Long / Short
31,851 (-1,955)
54,951 (-1,781)
Non-Commercials - Long / Short
14,648 (-153)
4,169 (+745)
Producers - Long / Short
27,374 (-1,481)
53,883 (-956)
Swap Dealers - Long / Short
3,939 (-449)
530 (-800)
Managed Money - Long / Short
9,985 (-61)
1,659 (+473)
Other Reportables - Long / Short
4,663 (-92)
2,510 (+272)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
778-6 +16.79%
on 07/06/21
944-4 -3.71%
on 07/19/21
+70-6 (+8.44%)
since 07/02/21
3-Month
675-6 +34.59%
on 05/26/21
944-4 -3.71%
on 07/19/21
+122-4 (+15.57%)
since 05/05/21
52-Week
549-6 +65.44%
on 08/12/20
944-4 -3.71%
on 07/19/21
+351-6 (+63.07%)
since 08/05/20

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 943-6
2nd Resistance Point 934-0
1st Resistance Point 918-4
Last Price 907-6
1st Support Level 893-2
2nd Support Level 883-4
3rd Support Level 868-0

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52-Week High 944-4
Last Price 907-6
Fibonacci 61.8% 793-6
Fibonacci 50% 747-1
Fibonacci 38.2% 700-4
52-Week Low 549-6

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