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Spring Wheat Dec '21 (MWZ21)

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Spring Wheat Futures Market News and Commentary

Wheat Rally Continues into Weekend, KC Up 64 ¾ Cents For Week

Wheat bulls continued their assault on the heights (or at least foot hills given the size of the decline in recent months) on Friday.  Kansas City HRW continues to lead the way, with gains of 13 ½ to 14 ¼ on Friday and 64 ¾ for the week. Chicago futures settled only 1 to 5 higher, expected to get the rain that the Southern Plains isn’t. MPLS spring wheat was up 5 ¼ to 6 ¼ cents higher on Friday.

Thursday’s Drought Monitor showed 17.01% of Kansas is now in D2 (severe) drought, up 10.03% from the previous week. Of the whole state, 97.87% is covered in some sort of abnormal dryness. D1-D4 (moderate to severe) drought has also expanded to 35.54% in OK, up 8.84% on the week. IN Texas, D2 (severe) drought was up 3.07% to 11.32%, with 2.05% listed at D3. 

Crop conditions in France were also getting worse, with FranceAgriMer pegging the durum wheat crop at 67% gd/ex, down 3%, and the soft wheat crop at 63% a 1% drop on the week. Eastern Ukraine and Russian wheat areas are also s... 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
$2,750/2,500
First Notice Date
11/30/21
Expiration Date
12/14/21 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Apr 23, 2024

View Chart Details
Commercials - Long / Short
35,504 (-4,014)
13,870 (-1,846)
Non-Commercials - Long / Short
12,240 (+940)
34,158 (-534)
Producers - Long / Short
32,579 (-4,030)
13,655 (-1,518)
Swap Dealers - Long / Short
2,710 (+31)
N/A (-313)
Managed Money - Long / Short
8,852 (+318)
33,442 (-703)
Other Reportables - Long / Short
3,388 (+622)
716 (+169)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
999-0 +2.13%
on 11/16/21
1061-0 -3.84%
on 12/02/21
-29-6 (-2.83%)
since 11/12/21
3-Month
881-6 +15.71%
on 09/21/21
1086-4 -6.10%
on 11/02/21
+133-0 (+14.99%)
since 09/14/21
52-Week
590-0 +72.92%
on 12/16/20
1086-4 -6.10%
on 11/02/21
+426-6 (+71.90%)
since 12/14/20

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Most Recent Stories

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Soybeans Hesitant to Head Higher on Planting Delays

Soybeans settled 3 ¼ lower to 3 cents higher on Friday, with delivery months out through January 2025 in negative territory and the rest of the 2025 contracts ending the session higher. Nearby May was...

ZMN24 : 344.7s (-0.83%)
ZLN24 : 45.54s (+0.24%)
ZSK24 : 1159-4s (-0.28%)
ZSPAUS.CM : 11.0865 (-0.21%)
ZSN24 : 1177-2s (-0.21%)
ZSX24 : 1174-6s (-0.06%)
ZSPX24US.CM : 11.1419 (-0.09%)
Wheat Rally Continues into Weekend, KC Up 64 ¾ Cents For Week

Wheat bulls continued their assault on the heights (or at least foot hills given the size of the decline in recent months) on Friday. Kansas City HRW continues to lead the way, with gains of 13 ½ to...

Corn Settles 1 to 3 Lower on Friday, Still Up 6+ Cents for Week

Corn settled 1 to 3 cents lower on Friday, with nearby May the firmest and May 2025 seeing the biggest day to day net loss. The solid export sales report on Thursday lifted the market for the week, but...

ZCK24 : 440-0s (-0.23%)
ZCPAUS.CM : 4.2540 (-0.15%)
ZCN24 : 450-0s (-0.44%)
ZCZ24 : 473-4s (-0.58%)
ZCPZ24US.CM : 4.4242 (-0.60%)
Hogs Weaken While Cattle Markets Rally

Strong end to week for cattle cash market drives futures higher

Pure Hedge - Livestock and Grain

$11.00-Beans? $5.00-Corn? $7.00-Wheat? $230-Feeders?

Grain Spreads: Risk Reversal in Soybeans

A Return to February Lows Imminent?

Shootin' the Bull about getting ready for summer sales

In my opinion, the discovery process continues.  Of the most importance coming up will be the amount of inventory available in the large summer video sales, and how quick buyers will be to procure inventory...

Wheat Rallying to Round out Strong Week

Wheat bulls are continuing to push the shorts out on Friday, as contracts are up across much of the board. Kansas City continues to lead the way, with gains of 10 to 13 cents at midday. Chicago futures...

ZWK24 : 603-2s (+0.17%)
ZWN24 : 622-2s (+0.28%)
KEK24 : 646-2s (+2.25%)
KEN24 : 654-2s (+2.15%)
MWK24 : 697-2s (+0.90%)
Soybeans Hesitant to Head Higher on Planting Delays

Soybeans are trading with fractional to 3 ¼ cent losses across the nearby contracts on Friday. Soymeal is down $2.30 in the nearby May contract. Soy Oil is showing some strength, up 15 points for May....

ZMN24 : 344.7s (-0.83%)
ZLN24 : 45.54s (+0.24%)
ZSK24 : 1159-4s (-0.28%)
ZSPAUS.CM : 11.0865 (-0.21%)
ZSN24 : 1177-2s (-0.21%)
ZSX24 : 1174-6s (-0.06%)
ZSPX24US.CM : 11.1419 (-0.09%)
Corn Sneaking Higher into the Weekend

Midday action in the corn market has futures showed fractional to 1 cent gains across the front months. Some spillover support form wheat could be attributed to the gains. Rains over the next few days...

ZCK24 : 440-0s (-0.23%)
ZCPAUS.CM : 4.2540 (-0.15%)
ZCN24 : 450-0s (-0.44%)
ZCZ24 : 473-4s (-0.58%)
ZCPZ24US.CM : 4.4242 (-0.60%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 1046-1
2nd Resistance Point 1040-7
1st Resistance Point 1030-5
Last Price 1020-2s
1st Support Level 1015-1
2nd Support Level 1009-7
3rd Support Level 999-5

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52-Week High 1086-4
Last Price 1020-2s
Fibonacci 61.8% 896-7
Fibonacci 50% 838-2
Fibonacci 38.2% 779-5
52-Week Low 590-0

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