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Wheat Mini May '23 (XWK23)

624-4s +10-2 (+1.67%) 05/12/23 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Fri, May 12th, 2023
Day Low
624-4
Day High
624-4
Open 0-0
Previous Close 614-2 614-2
Volume 0 0
Open Interest 40 40
Stochastic %K 39.49% 39.49%
Weighted Alpha -44.98 -44.98
5-Day Change -22-4 (-3.48%) -22-4 (-3.48%)
52-Week Range 595-4 - 1241-3 595-4 - 1241-3
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Wheat Mini Futures Market News and Commentary

Wheat Closes with Mixed Trade on Tuesday

The wheat complex was mixed across the three markets on Tuesday. Chicago SRW wheat was down 3 to 4 cents at the close. KC HRW futures saw fractionally higher trade into the closing bell. MPLS spring wheat saw 2 to 3 cent losses.

The Monday afternoon Crop Progress report showed the US winter wheat crop at 63% harvested, 1% below the 5-year average pace. The Spring wheat crop was 78% headed, 3% ahead of normal, with conditions up 4% to 54% gd/ex, as the Brugler500 index was up 8 points to 345. The improvement was mainly in MN (+14), with MT (+8), ND (+6), and SD (+5) seeing better ratings. 

Russian wheat production was estimated at 84 MMT by IKAR, a 0.5 MMT reduction from their prior number, with exports expected in 2025/26 at 42 MMT. Algeria purchased a large chunk of wheat this morning, with an estimated 1 MMT purchased. 

Sep 25 CBOT Wheat  closed at $5.38, down 3 1/2 cents,

Dec 25 CBOT Wheat  closed at $5.58 3/4, down 3 1/2 cents,

Sep 25 KCBT Wheat  cl... Read more

Contract Specifications

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Contract
Chicago Soft Red Winter Wheat mini-sized
Contract Size
1,000 bushels
Tick Size
1/8 cent per bushel ($1.25 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Sun-Fri) CST
Exchange
CBOT
Point Value
$10
Margin/Maintenance
$363/330
First Notice Date
04/28/23
Expiration Date
05/12/23 (expired)

Seasonal Chart

Wheat Mini May '23
Average Price Chart for 5 Prior May Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
595-4 +4.87%
on 05/02/23
Period Open: 679-4
706-5 -11.62%
on 04/18/23
-55-0 (-8.09%)
since 04/12/23
3-Month
595-4 +4.87%
on 05/02/23
Period Open: 795-6
807-0 -22.61%
on 02/14/23
-171-2 (-21.52%)
since 02/10/23
52-Week
595-4 +4.87%
on 05/02/23
Period Open: 1169-6
1241-3 -49.69%
on 05/17/22
-545-2 (-46.61%)
since 05/12/22

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Most Recent Stories

More News
Corn Holds onto Turnaround Tuesday Strength

Corn futures held onto gains heading into the Tuesday close, as contracts were up 1 to 2 cents in the nearbys. The front month CmdtyView national average Cash Corn price was up 1 1/4 cents at $3.88 3/4....

ZCZ25 : 421-6 (+0.48%)
ZCZ25 : 421-6 (+0.48%)
ZCU25 : 403-0 (+0.44%)
ZCPZ25US.CM : 3.8674 (+0.40%)
ZCPAUS.CM : 3.8764 (+0.30%)
Wheat Closes with Mixed Trade on Tuesday

The wheat complex was mixed across the three markets on Tuesday. Chicago SRW wheat was down 3 to 4 cents at the close. KC HRW futures saw fractionally higher trade into the closing bell. MPLS spring wheat...

KEZ25 : 547-2 (+0.23%)
KEU25 : 525-0 (+0.24%)
MWU25 : 6.0200 (+0.12%)
ZWU25 : 539-2 (+0.23%)
ZWZ25 : 560-2 (+0.27%)
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Soybeans Fall on Tuesday

Soybeans slipped lower at midday, with contracts closing 5 to 6 cents in the red on Tuesday. The cmdtyView national average Cash Bean price was down 4 3/4 cents at $9.56 1/4. Soymeal futures were down...

ZSPAUS.CM : 9.5623 (-0.48%)
ZLZ25 : 54.71 (+0.57%)
ZMZ25 : 281.2 (+0.61%)
ZSX25 : 1009-4 (+0.77%)
ZSQ25 : 1000-6 (+0.58%)
ZSU25 : 994-2 (+0.71%)
ZSPX25US.CM : 9.4289 (-0.53%)
Pure Hedge - Livestock and Grain

The Grains Need Significant Trade Deals Completed - Easiest Path for the Cattle Markets is Lower

Lean Hogs Hold Key Support

Educational and Actionable information using Fibonacci and W.D. Gann analysis.

HEQ25 : 103.925s (+0.68%)
Walsh Pure Technicals - Pure Hedge Division

Grain Technicals

Shootin' the Bull about coming to an end

Current price action, and today's close, lead me to anticipate a new contract high.

Wheat Slide Lower Continues

The wheat complex is trading with losses on Tuesday. Chicago SRW wheat is down 4 to 5 cents at midday. KC HRW futures are fractionally in the red at midday so far on Tuesday. MPLS spring wheat is trading...

KEZ25 : 547-2 (+0.23%)
KEU25 : 525-0 (+0.24%)
MWU25 : 6.0200 (+0.12%)
ZWU25 : 539-2 (+0.23%)
ZWZ25 : 560-2 (+0.27%)
Soybeans Leaking with Ratings Strength

Soybeans are showing midday losses of 3 to 5 cents on Tuesday as contracts revert from early morning gains. The cmdtyView national average Cash Bean price is down 4 cents at $9.57 3/4. Soymeal futures...

ZSPAUS.CM : 9.5623 (-0.48%)
ZLZ25 : 54.71 (+0.57%)
ZMZ25 : 281.2 (+0.61%)
ZSX25 : 1009-4 (+0.77%)
ZSQ25 : 1000-6 (+0.58%)
ZSU25 : 994-2 (+0.71%)
ZSPX25US.CM : 9.4289 (-0.53%)
Monday's Strength in the Grain Markets Falls Flat Overnight

Grain markets stage an impressive recovery on Monday, but follow through has been non existent after Monday’s crop progress report showed better than expect conditions for soybeans.

Soybeans Losses Continue as Ratings Improve

Soybeans are 3 to 5 cents lower as Tuesday morning trade kicks off. Futures slipped lower on the Monday session, with contracts fractionally to 4 cents in the red. July expired on Monday, with 204 deliveries...

ZSPAUS.CM : 9.5623 (-0.48%)
ZLZ25 : 54.71 (+0.57%)
ZMZ25 : 281.2 (+0.61%)
ZSX25 : 1009-4 (+0.77%)
ZSQ25 : 1000-6 (+0.58%)
ZSU25 : 994-2 (+0.71%)
ZSPX25US.CM : 9.4289 (-0.53%)
Wheat Weakness Continuing on Tuesday

The wheat complex is down across the three markets early on Tuesday. Wheat is trading with losses across the three markets on Monday. Chicago SRW wheat posted 3 to 4 cent losses on Monday. July futures...

KEZ25 : 547-2 (+0.23%)
KEU25 : 525-0 (+0.24%)
MWU25 : 6.0200 (+0.12%)
ZWU25 : 539-2 (+0.23%)
ZWZ25 : 560-2 (+0.27%)
Corn Giving Back Monday Gains Early on Tuesday

Corn prices are down 4 to 5 cents early on Tuesday. Futures posted gains of 4 to 6 cents across most contracts on Monday following the overnight gap lower. July futures expired as there were another 29...

ZCZ25 : 421-6 (+0.48%)
ZCZ25 : 421-6 (+0.48%)
ZCU25 : 403-0 (+0.44%)
ZCPZ25US.CM : 3.8674 (+0.40%)
ZCPAUS.CM : 3.8764 (+0.30%)
How About those Crop Condition Numbers for Corn and Soybeans?

Yes, I'm addressing NASS' latest weekly crop condition numbers, the Kardashians of government reports, to point out...well, you'll see.

ZCZ25 : 421-6 (+0.48%)
ZSX25 : 1009-4 (+0.77%)
ZCU25 : 403-0 (+0.44%)
$CRWI : 470.61 (-0.04%)
Corn Extends Monday Bounce into the Close

Corn futures posted gains of 4 to 6 cents across most contract son Monday following the overnight gap lower. July futures expired today. The front month CmdtyView national average Cash Corn price was up...

ZCZ25 : 421-6 (+0.48%)
ZCZ25 : 421-6 (+0.48%)
ZCU25 : 403-0 (+0.44%)
ZCPZ25US.CM : 3.8674 (+0.40%)
ZCPAUS.CM : 3.8764 (+0.30%)
Soybeans Weakness Continues on Monday

Soybeans slipped lower on the Monday session, with contracts fractionally to 4 cents in the red. The cmdtyView national average Cash Bean price was down 3 ¼ cents at $9.61 1/2. Soymeal futures were down...

ZSPAUS.CM : 9.5623 (-0.48%)
ZLZ25 : 54.71 (+0.57%)
ZMZ25 : 281.2 (+0.61%)
ZSX25 : 1009-4 (+0.77%)
ZSQ25 : 1000-6 (+0.58%)
ZSU25 : 994-2 (+0.71%)
ZSPX25US.CM : 9.4289 (-0.53%)
Spring Wheat Leads the Market Lower

Wheat is trading with losses across the three markets on Monday. Chicago SRW wheat posted 3 to 4 cent losses on Monday. July futures expired today. KC HRW contracts are were down 1 to 2 cents on the day....

KEZ25 : 547-2 (+0.23%)
KEU25 : 525-0 (+0.24%)
MWU25 : 6.0200 (+0.12%)
ZWU25 : 539-2 (+0.23%)
ZWZ25 : 560-2 (+0.27%)
Hogs Continue Lower

Hogs breakdown below Support

Grain Spreads: Corn Cover

Short Covering Highlighted

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 624-4
2nd Resistance Point 624-4
1st Resistance Point 624-4
Last Price 624-4s
1st Support Level 624-4
2nd Support Level 624-4
3rd Support Level 624-4

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52-Week High 1241-3
Fibonacci 61.8% 994-5
Fibonacci 50% 918-4
Fibonacci 38.2% 842-2
Last Price 624-4s
52-Week Low 595-4

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