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Spring Wheat Dec '22 (MWZ22)
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Spring Wheat Futures Market News and Commentary

Wheats Firm Up for the Weekend

The front month wheat futures ended the day firmer following Thursday’s drop. Chicago prices were up 3 ¾ to 5 cents into the weekend, as Dec ended a net 24 ¾ cents lower wk/wk. KC wheats settled fractionally to 2 ½ cents in the black, ending the week 35 ¼ cents lower to a new low for the move in Dec HRW. Spring wheat futures firmed up 3 to 5 ¾ cents on the last trade day of the week. That left Dec HRS contracts 18 ½ cents lower for the week’s move. 

CoT data had managed money traders 96,805 contracts net short in Chicago wheat as of 9/19. That was a 12k contract stronger net short fueled by net new selling for the week. KC spec traders were 818 contracts less net short after light net new buying. The group was shown 12,330 contracts net short as of 9/19. CFTC reported managed money with a 15,177 contract net short in Minneapolis futures. That was a 1,816 contract stronger net short for the week via net new selling. 

The International Grains Council estimates wheat produc... 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
$3,300/3,000
First Notice Date
11/30/22
Expiration Date
12/14/22 (expired)

Seasonal Chart

Spring Wheat Dec '22
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Sep 12, 2023

View Chart Details
Commercials - Long / Short
38,538 (+764)
28,163 (+262)
Non-Commercials - Long / Short
8,241 (+231)
18,689 (+2,248)
Producers - Long / Short
37,334 (+291)
27,697 (+256)
Swap Dealers - Long / Short
1,200 (+473)
462 (+6)
Managed Money - Long / Short
4,445 (+391)
17,806 (+2,339)
Other Reportables - Long / Short
3,796 (-160)
883 (-91)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
904-0 +3.93%
on 12/05/22
982-6 -4.40%
on 11/15/22
-23-4 (-2.44%)
since 11/14/22
3-Month
904-0 +3.93%
on 12/05/22
1024-2 -8.27%
on 10/10/22
+1-4 (+0.16%)
since 09/14/22
52-Week
850-0 +10.53%
on 01/14/22
1400-0 -32.89%
on 05/17/22
+27-2 (+2.99%)
since 12/14/21

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 939-4
2nd Resistance Point 939-4
1st Resistance Point 939-4
Last Price 939-4s
1st Support Level 939-4
2nd Support Level 939-4
3rd Support Level 939-4

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52-Week High 1400-0
Fibonacci 61.8% 1189-7
Fibonacci 50% 1125-0
Fibonacci 38.2% 1060-1
Last Price 939-4s
52-Week Low 850-0

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