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Wheat May '23 (ZWK23)
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Wheat Futures Market News and Commentary

Wheat Futures Gain to Start the Week

At the close on Friday, wheat futures were up 9 1/2 to 16 cents. MPLS HRS futures led the way with gains of as much as 1.9%. KC wheat futures were up 1.4% to 1.6% on the day. CBT SRW ended with 1.4% gains across the front months. 

State winter wheat conditions scored a 243 on the Brugler500 index for KS on 3/26. That was down from 246 last week. Texas conditions dropped 15 points to a 250 on the index. In Oklahoma, conditions improved 20 points on the week to a Brugler500 score of 287. 

The weekly Export Inspections report had 392,484 MT of wheat shipments for the week that ended 3/23. That was up 17k from last week and 49k MT from the same week last year. The report showed 36% was HRW and 31% was white wheat. Mexico and China were the week’s top destinations. Accumulated wheat exports were marked at 16.679 MMT as of 3/23, trailing last year’s pace by 220k MT. 

Survey results going into NASS’s quarterly Grain Stocks report have wheat marked at 928 mbu on average. T... 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
$3,080/2,800
First Notice Date
04/28/23 (31 days)
Expiration Date
05/12/23 (45 days)

Seasonal Chart

Wheat May '23
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Mar 21, 2023

View Chart Details
Commercials - Long / Short
133,069 (-6,273)
73,744 (-544)
Non-Commercials - Long / Short
105,293 (-4,424)
164,496 (-10,535)
Producers - Long / Short
52,430 (-3,049)
55,668 (+1,736)
Swap Dealers - Long / Short
67,058 (-695)
4,495 (+249)
Managed Money - Long / Short
60,505 (+705)
149,518 (-8,334)
Other Reportables - Long / Short
44,788 (-5,129)
14,978 (-2,201)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
654-0 +6.69%
on 03/22/23
721-6 -3.33%
on 03/02/23
-7-6 (-1.10%)
since 02/28/23
3-Month
654-0 +6.69%
on 03/22/23
807-4 -13.59%
on 02/14/23
-95-0 (-11.98%)
since 12/28/22
52-Week
654-0 +6.69%
on 03/22/23
1242-6 -43.85%
on 05/17/22
-268-2 (-27.77%)
since 03/28/22

More Wheat Quotes

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Most Recent Stories

More News
Falling board crush combined with a record-setting Brazilian export program

Discover how HTS Commodities can assist with your risk management or investment requirements. Contact Scott Strand Direct 612-486-4624 | scott.strand@hilltopsecurities.com

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KO : 61.35 (+0.74%)
Wheat Futures Gain to Start the Week

At the close on Friday, wheat futures were up 9 1/2 to 16 cents. MPLS HRS futures led the way with gains of as much as 1.9%. KC wheat futures were up 1.4% to 1.6% on the day. CBT SRW ended with 1.4% gains...

ZWK23 : 698-2 (unch)
ZWN23 : 709-4 (unch)
ZWPAES.CM : 6.4248 (+1.48%)
KEK23 : 861-6 (+0.17%)
KEPAWS.CM : 8.2389 (+1.50%)
MWK23 : 870-4 (-0.34%)
Soybeans Rally to Start the Week

After printing gains going into the weekend, the soybean market extended the bounce with double digit Monday follow through. At the close the front months were 14 to 15 3/4 cents higher. Beans are still...

ZSK23 : 1449-6 (+0.52%)
ZSPAUS.CM : 14.1260 (+1.14%)
ZSN23 : 1427-4 (+0.48%)
ZSQ23 : 1383-2 (+0.47%)
Monday Gains in Corn Market

The corn market continued its rally, with 5 1/4 to 9 1/2 cent gains on Monday. December futures led the way with a 1.7% gain and a close just 1/4 cent off the high for the day. USDA reported a private...

ZCK23 : 647-2 (-0.15%)
ZCPAUS.CM : 6.5306 (+0.95%)
ZCN23 : 628-2 (-0.24%)
ZCU23 : 577-4 (-0.17%)
Livestock Report

Cattle markets surge

Here are the key levels Soybeans, Corn and Wheat are rallying from.

Educational and Actionable Information using Fibonacci and W.D. Gann Analysis

Grain Markets Firm as Traders Position for Friday’s USDA Report

Grain markets were able to rally in today’s trade as market participants jockey for position ahead of Friday’s USDA report.

Livestock Markets Surge

Livestock futures were sharply higher in today's trade. We discussed how fund positioning may impact price as well as an upcoming seasonal.

Title: 2023 corn acreage estimate and HRW/CHI wheat spread at record highs

Discover how HTS Commodities can assist with your risk management or investment requirements. Contact Scott Strand Direct 612-486-4624 | scott.strand@hilltopsecurities.com

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 735-7
2nd Resistance Point 721-1
1st Resistance Point 709-5
Last Price 698-4
1st Support Level 683-3
2nd Support Level 668-5
3rd Support Level 657-1

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52-Week High 1242-6
Fibonacci 61.8% 1017-7
Fibonacci 50% 948-3
Fibonacci 38.2% 878-7
Last Price 698-4
52-Week Low 654-0

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