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Spring Wheat Dec '20 (MWZ20)

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Spring Wheat Futures Market News and Commentary

Wheat Closes Weaker on Thursday

At the closing bell on Thursday, front month domestic wheat futures were in in the red. SRW futures gave back 4 1/4 to 5 1/4 cents. HRW closed down by 3/4 to 1 1/4 cents. Spring wheat ended the day fractionally mixed to 4 1/4 cents weaker. USDA reported 743,176 MT of wheat bookings for the week ending 10/22. That was above estimates, 102% above LW and up 50% yr/yr. South Korea, Mexico, and Japan were the top destinations in the report. Exports from the same report were 230% higher wk/wk with 442,535 MT (16.26 mbu) shipped. Accumulated exports from weekly data is running 2.6% above last season’s pace with 10.632 MMT shipped since June 1. IGC’s October forecast calls for 764 MMT of wheat production. That was 1 MMT higher than the September number. Stocks were 3 MMT tighter at 291.

Dec 20 CBOT Wheat closed at $6.03 3/4, down 5 cents,

Dec 20 KCBT Wheat closed at $5.42, down 1 1/4 cents,

Dec 20 MGEX Wheat closed at $5.52 1/4, up 1/4 cent,

... 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
$1,560/1,200
First Notice Date
11/30/20 (32 days)
Expiration Date
12/14/20 (46 days)

Seasonal Chart

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

Commitment of Traders Positions as of Oct 20, 2020

View Chart Details
Commercials - Long / Short
33,599 (+2,932)
44,110 (+11,706)
Non-Commercials - Long / Short
21,078 (+2,085)
13,066 (-4,661)
Producers - Long / Short
30,864 (+2,868)
43,558 (+11,697)
Swap Dealers - Long / Short
2,580 (+159)
397 (+104)
Managed Money - Long / Short
14,379 (+1,208)
9,887 (-5,058)
Other Reportables - Long / Short
6,699 (+877)
3,179 (+397)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
530-2 +4.71%
on 10/02/20
587-6 -5.53%
on 10/21/20
+15-0 (+2.78%)
since 09/30/20
3-Month
506-4 +9.62%
on 08/12/20
587-6 -5.53%
on 10/21/20
+29-0 (+5.51%)
since 07/30/20
52-Week
506-4 +9.62%
on 08/12/20
600-0 -7.46%
on 01/22/20
-20-4 (-3.56%)
since 10/30/19

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Barchart Trading Guide

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

Key Turning Points

2nd Resistance Point 562-6
1st Resistance Point 557-4
Last Price 555-2
1st Support Level 547-0
2nd Support Level 541-6

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52-Week High 600-0
Fibonacci 61.8% 564-2
Last Price 555-2
Fibonacci 50% 553-2
Fibonacci 38.2% 542-2
52-Week Low 506-4

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