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Wheat May '21 (ZWK21)

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Wheat Futures Market News and Commentary

Wheat Gains Double Digits on Friday

At the closing bell on Friday, wheat futures were still up by double digits. CBT futures closed 8 3/4 to 10 cents higher, which for May completed a 31 3/4 cent move for the week. KC HRW futures go into the weekend with 10 to 10 1/2 cent gains, increasing the week’s move to 23 1/4 cents for May. MGE futures ended Friday 11 1/4 to 13 3/4 cents higher.  

After the close, the weekly CoT report showed managed money funds were net short 7,583 contracts SRW wheat on 4/6. The report showed spec trader short covering through the week. In KC wheat, managed money reduced their net long 7,212 contracts, via new selling, to 14,510 contracts. CFTC data showed long liquidation from spring wheat spec traders, leaving the group 5,483 contracts net long.

USDA raised domestic wheat carryout by 16 mbu to 852 mbu. The average trade guess was to see a 10 mbu increase. Exports were left UNCH, but USDA shifted 5 mbu of HRW to white wheat. The carryout increase came by a 25 mbu re... Read more

Contract Specifications

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Contract
Chicago Soft Red Winter 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. - 1:20p.m. (Settles 1:15p.m.) (Sun-Fri) CST
Exchange
CBOT
Point Value
$50
Margin/Maintenance
$2,090/1,900
First Notice Date
04/30/21 (19 days)
Expiration Date
05/14/21 (33 days)

Seasonal Chart

Wheat May '21
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Apr 6, 2021

View Chart Details
Commercials - Long / Short
151,697 (-6,571)
150,869 (+1,024)
Non-Commercials - Long / Short
120,515 (+3,150)
109,311 (-4,970)
Producers - Long / Short
33,762 (-504)
123,085 (+170)
Swap Dealers - Long / Short
112,035 (-5,854)
21,884 (+1,067)
Managed Money - Long / Short
80,255 (+2,840)
92,263 (-4,257)
Other Reportables - Long / Short
40,260 (+310)
17,048 (-713)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
593-2 +7.67%
on 03/31/21
656-6 -2.74%
on 03/10/21
-17-6 (-2.70%)
since 03/09/21
3-Month
593-2 +7.67%
on 03/31/21
693-0 -7.83%
on 01/15/21
-2-0 (-0.31%)
since 01/08/21
52-Week
494-2 +29.24%
on 06/26/20
693-0 -7.83%
on 01/15/21
+66-0 (+11.52%)
since 04/09/20

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Most Recent Stories

More News
Sidwell Strategies Week-in-Review: USDA further tightens corn balance sheet

USDA further tightens corn balance sheet

Corn Closes Firm after New Highs

Following the report, old crop corn futures posted new highs, which for May was $5.95/bu, but prices were just fractionally higher to 2 1/2 cents in the red at the close. New crop prices stayed higher,...

ZCPAUS.CM : 5.6602 (-0.35%)
ZCZ21 : 496-4s (+0.35%)
ZCPZ21US.CM : 4.6904 (+0.43%)
Soy Close Lower for Weekend

At the close for Friday, soybean futures were 8 1/4 to 12 1/4 cents in the red. For May, that finished the week as a 7 cent pull back. The fresh cash average price for old crop beans was a dime higher...

ZSPAUS.CM : 13.7949 (-0.81%)
ZSX21 : 1263-2s (-0.79%)
ZSPX21US.CM : 12.1316 (-0.80%)
Wheat Gains Double Digits on Friday

At the closing bell on Friday, wheat futures were still up by double digits. CBT futures closed 8 3/4 to 10 cents higher, which for May completed a 31 3/4 cent move for the week. KC HRW futures go into...

ZWPAES.CM : 6.1093 (+1.64%)
ZWN21 : 640-4s (+1.59%)
KEPAWS.CM : 5.5493 (+1.82%)
KEN21 : 594-2s (+1.80%)
"Shootin' the Bull"

I believe the stage is nearly set for the next 5 months.

Corn Prices Back Off, Still Higher

Initial report response shot corn prices to new contract highs, but trade has backed off by midday. At midday prices are still 4 1/4 cents in the black for old crop and up 2 3/4 to 4 cents for new crop. ...

ZCPAUS.CM : 5.6602 (-0.35%)
ZCZ21 : 496-4s (+0.35%)
ZCPZ21US.CM : 4.6904 (+0.43%)
Beans Back in Red for Midday

Soybeans were in the red going into the report, but bounced back to positive territory after the release. For midday, beans are back in the red with 5 to 7 cent losses. The average cash price for soybeans...

ZSPAUS.CM : 13.7949 (-0.81%)
ZSX21 : 1263-2s (-0.79%)
ZSPX21US.CM : 12.1316 (-0.80%)
Wheat Market Gaining after Report

Wheat futures react with midday gains of as much as a dime. CBT SRW futures are up the most, trading 8 1/2 to 10 3/4 cents higher. KC HRW futures are 6 1/4 cents to 8 cents in the black at midday. Spring...

ZWPAES.CM : 6.1093 (+1.64%)
ZWN21 : 640-4s (+1.59%)
KEPAWS.CM : 5.5493 (+1.82%)
KEN21 : 594-2s (+1.80%)
WASDE REPORT FOR 4/9/21

WASDE REPORT FOR 4/9/21

Minneapolis Wheat: Spring has Sprung

Minneapolis spring wheat is often an overlooked market, though this week it has stolen the spotlight in the wheat complex. The old-crop market has seen solid buying from both noncommercial and commercial...

MWK21 : 654-0s (+2.15%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 667-0
2nd Resistance Point 656-6
1st Resistance Point 647-6
Last Price 638-6s
1st Support Level 628-4
2nd Support Level 618-2
3rd Support Level 609-2

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52-Week High 693-0
Last Price 638-6s
Fibonacci 61.8% 617-1
Fibonacci 50% 593-5
Fibonacci 38.2% 570-1
52-Week Low 494-2

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