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Wheat Mar '21 (ZWH21)

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Wheat Futures Market News and Commentary

Wheat Closes Higher ahead of Three Day Weekend

After midday losses, front month Chicago wheat closed the last trade day of the week 2 3/4 to 5 1/2 cents stronger. KC futures maintained the high ground closing up by at least 4 1/4 cents. MGE wheat closed the session 2 3/4 to 4 cents in the black. The weekly Commitment of Traders report showed an 8,223 contract reduction to managed money’s SRW net long. Spec trader OI increased by 343 contracts on the week, leaving the group 16,987 contracts long on net as of 1/12. In KC wheat, spec traders were just 605 contracts more net long to 55,062. CoT report data had managed money funds net long 11,797 contracts in HRS wheat. That was 4,049 contracts more net long for the largest net shift wk/wk in 12 weeks (when the group flipped from net short to net long). IGC sees 1 MMT less of world wheat production, forecasting 768 MMT. Wheat stocks were reduced 1 million as well, to 294 MMT. Russia announced discussions to extend the export tax through the next crop cycle, that follows a recent deci... 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
$1,980/1,800
First Notice Date
02/26/21 (40 days)
Expiration Date
03/12/21 (54 days)

Seasonal Chart

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

Commitment of Traders Positions as of Jan 12, 2021

View Chart Details
Commercials - Long / Short
154,431 (+4,103)
173,507 (+913)
Non-Commercials - Long / Short
137,150 (+2,490)
106,326 (+7,013)
Producers - Long / Short
41,592 (+4,660)
144,477 (+3,735)
Swap Dealers - Long / Short
104,645 (+1,510)
20,836 (-755)
Managed Money - Long / Short
89,761 (-3,132)
78,382 (+7,215)
Other Reportables - Long / Short
47,389 (+5,622)
27,944 (-202)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
589-6 +14.54%
on 12/16/20
693-0 -2.53%
on 01/15/21
+75-6 (+12.63%)
since 12/15/20
3-Month
565-4 +19.45%
on 12/07/20
693-0 -2.53%
on 01/15/21
+56-0 (+9.04%)
since 10/15/20
52-Week
488-2 +38.35%
on 06/26/20
693-0 -2.53%
on 01/15/21
+82-2 (+13.86%)
since 01/15/20

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Wheat Closes Higher ahead of Three Day Weekend

After midday losses, front month Chicago wheat closed the last trade day of the week 2 3/4 to 5 1/2 cents stronger. KC futures maintained the high ground closing up by at least 4 1/4 cents. MGE wheat closed...

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 719-3
2nd Resistance Point 706-1
1st Resistance Point 690-7
Last Price 675-4s
1st Support Level 662-3
2nd Support Level 649-1
3rd Support Level 633-7

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52-Week High 693-0
Last Price 675-4s
Fibonacci 61.8% 614-6
Fibonacci 50% 590-5
Fibonacci 38.2% 566-4
52-Week Low 488-2

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