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Spring Wheat Sep '23 (MWU23)

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Spring Wheat Futures Market News and Commentary

Wheat Weakness Pushes to Thursday

The wheat complex extended the weakness on Thursday, with losses across the three markets. Chicago SRW futures fell 5 1/2 to 7 1/2 cents on Thursday. KC HRW futures were 3 to 5 cents in the red at the close. MPLS spring wheat was fractionally to 5 ¼ cents lower on Thursday. Crude oil losses of $3.11 added some pressure.

USDA Export Sales data showed 642,239 MT in net cancellation for 2025/26 for the week of 5/28. The marketing year ended on Sunday. The Philippines showed net cancellations of 224,100 MT, with 155,200 MT in reductions for unknown, and -104,900 MT for Japan. Sales for 2026/27 were tallied at 838,507 MT, as some of the old crop cancellation was likely rolled to new crop. The largest new crop buyers were South Korea at 202,100 MT, with 156,000 MT for the Philippines and 154,300 MT sold to unknown destination.

The Argentina wheat crop was estimated at 32.4% planted according to the Buenos Aires Grain Exchange, well above the 5-year average of 20%.

Jul 26... 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
Margin/Maintenance
$2,310/2,100
First Notice Date
08/31/23
Expiration Date
09/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of May 26, 2026

View Chart Details
Commercials - Long / Short
38,196 (-338)
67,182 (-963)
Non-Commercials - Long / Short
35,980 (-75)
7,176 (+811)
Producers - Long / Short
34,946 (-70)
66,972 (-999)
Swap Dealers - Long / Short
3,040 (-304)
0 (unch)
Managed Money - Long / Short
29,683 (-274)
6,081 (+428)
Other Reportables - Long / Short
6,297 (+199)
1,095 (+383)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
732-4 +2.76%
on 09/05/23
805-2 -6.52%
on 08/15/23
-52-6 (-6.55%)
since 08/14/23
3-Month
732-4 +2.76%
on 09/05/23
947-6 -20.58%
on 07/25/23
-55-0 (-6.81%)
since 06/14/23
52-Week
732-4 +2.76%
on 09/05/23
981-0 -23.27%
on 10/10/22
-168-2 (-18.27%)
since 09/14/22

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KEN26 : 617-6 (-0.40%)
MWN26 : 6.2400 (+0.48%)
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ZWU26 : 595-2 (unch)
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The wheat complex is extending the losses on Thursday, with the three exchanges falling at midday. Chicago SRW futures are 6 to 7 cents lower on Thursday. KC HRW futures are down 4 to 5 cents so far on...

KEU26 : 629-4 (-0.40%)
KEN26 : 617-6 (-0.40%)
MWN26 : 6.2400 (+0.48%)
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ZCU26 : 431-0 (-0.40%)
ZCN26 : 422-6 (-0.41%)
ZCPZ26US.CM : 4.1595 (-1.87%)
ZCPAUS.CM : 3.9004 (-1.76%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 753-1
2nd Resistance Point 753-1
1st Resistance Point 752-7
Last Price 752-6s
1st Support Level 752-5
2nd Support Level 752-5
3rd Support Level 752-3

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52-Week High 981-0
Fibonacci 61.8% 886-1
Fibonacci 50% 856-6
Fibonacci 38.2% 827-3
Last Price 752-6s
52-Week Low 732-4

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