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Wheat May '23 (ZWK23)

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 66 66
Open Interest 22 22
Stochastic %K 39.83% 39.83%
Weighted Alpha -44.98 -44.98
5-Day Change -22-4 (-3.48%) -22-4 (-3.48%)
52-Week Range 595-4 - 1242-6 595-4 - 1242-6
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Wheat Futures Market News and Commentary

Wheat Closes Mixed on Tuesday as Spring Wheat Bounces

The wheat complex was mixed on Friday, with the winter wheats slipping back and spring wheat seeing strength. KC HRW futures were down 3 to 4 1/2 cents across most contracts on Friday with September down just 1/2 cent this week. CBT futures were 3 to 4 cents in the red on the day, with September down 2 ¼ cents. MPLS spring wheat saw gains of 2 to 3 cents to close Friday, with September spring wheat up 4 ½ cents this week.

Weekly CFTC data showed a total of 15,445 contracts added to the spec fund net short position in CBT wheat as of 8/5, taking it to 80,759 contracts. In KC wheat futures and options, managed money added 9,783 contracts to that net short to 57,063 contracts.

Analysts estimate the US wheat production total to be tallied at 1.922 billion bushels in Tuesday’s Crop Production report, which would be down 7 mbu from last month.

USDA has the 2025/26 wheat export book at 10.309 MMT in shipped and unshipped sales, which is the highest since 2017/18 for this... 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
$1,815/1,650
First Notice Date
04/28/23
Expiration Date
05/12/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Aug 5, 2025

View Chart Details
Commercials - Long / Short
181,531 (+9,192)
100,661 (+382)
Non-Commercials - Long / Short
132,500 (+12,612)
211,065 (+21,492)
Producers - Long / Short
91,957 (+10,818)
78,463 (+2,685)
Swap Dealers - Long / Short
74,023 (+320)
6,647 (-357)
Managed Money - Long / Short
91,921 (+2,661)
174,878 (+18,738)
Other Reportables - Long / Short
40,579 (+9,951)
36,187 (+2,754)
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
707-0 -11.67%
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
807-4 -22.66%
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
1242-6 -49.75%
on 05/17/22
-545-2 (-46.61%)
since 05/12/22

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Most Recent Stories

More News
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USDA WASDE & Crop Production reports Tuesday

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Cattle markets knocked down

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Corn Rounds Out the Week with Losses on Friday

Corn futures gave back into some weakness on Friday, as contracts were down 1 to 2 cents. September was down 6 ¾ cents this week, with December slipping 5 ¼ cents. The CmdtyView national average Cash...

ZCZ25 : 408-0 (+0.62%)
ZCZ25 : 408-0 (+0.62%)
ZCU25 : 385-2 (+0.65%)
ZCPZ25US.CM : 3.7442 (-0.42%)
ZCPAUS.CM : 3.6538 (-0.48%)
Wheat Closes Mixed on Tuesday as Spring Wheat Bounces

The wheat complex was mixed on Friday, with the winter wheats slipping back and spring wheat seeing strength. KC HRW futures were down 3 to 4 1/2 cents across most contracts on Friday with September down...

KEZ25 : 538-0 (+0.14%)
KEU25 : 518-4 (+0.05%)
MWU25 : 5.7500 (-0.30%)
ZWU25 : 519-6 (+1.02%)
ZWZ25 : 539-6 (+0.89%)
Soybeans Ease Back Lower on Friday

Soybeans posted losses of 5 to 7 cents across most contracts on Friday, as September and November ended the week with a 1 ¾ cent loss. The cmdtyView national average Cash Bean price was down 7 cents at...

ZSPAUS.CM : 9.2830 (-0.74%)
ZLZ25 : 53.36 (+1.58%)
ZMZ25 : 290.8 (+1.96%)
ZSX25 : 1014-2 (+2.71%)
ZSQ25 : 966-6s (-0.51%)
ZSU25 : 995-0 (+2.82%)
ZSPX25US.CM : 9.2033 (-0.69%)
WALSH PURE SPREADER -Pure Hedge Division-

ZMU25-ZMF26 (SEP25-JAN26 Soybean-Meal Spread)

Ag Markets See Red on Friday

Oliver Sloup and Marlin Bohling break down the end of the week’s commodities market as they digest: Grain and livestock markets were mostly higher on Thursday but that quickly turned on Friday. Grains...

Grain Spreads: Corn WASDE

Will Weather Repeat

Walsh Cattle Opportunities - Pure Hedge Division

Feeder cattle closed limit down to 340.375, down -9.25 in the September contract. Live cattle were -6.27 1/2 lower to 225.950 in the October contract. Cattle Update and Options Trades for Next Week.

Corn Backing Off Early Gains for Fractional Midday Losses

Corn futures are pulling back from the early gains on Friday, as contracts are fractionally lower in the nearbys. Contracts closed Thursday with 4 to 6 cent gains. Some of that was possibly short covering,...

ZCZ25 : 407-6 (+0.55%)
ZCZ25 : 407-6 (+0.55%)
ZCU25 : 385-2 (+0.65%)
ZCPZ25US.CM : 3.7442 (-0.42%)
ZCPAUS.CM : 3.6538 (-0.48%)
Soybeans Mostly Weaker on Friday

Soybeans are back to mixed action on Friday, with mostly weaker trade showing up. August is up 1 ¼ cents, with the rest down 3 to 4 cents. Open interest was up 20,965 contracts on Thursday, suggesting...

ZSPAUS.CM : 9.2830 (-0.74%)
ZLZ25 : 53.34 (+1.54%)
ZMZ25 : 290.8 (+1.96%)
ZSX25 : 1014-0 (+2.68%)
ZSQ25 : 966-6s (-0.51%)
ZSU25 : 994-2 (+2.74%)
ZSPX25US.CM : 9.2033 (-0.69%)
Wheat Posting Mixed Action

The wheat complex is mixed at midday, with the winter wheats slipping bck and soring wheat posting gains. KC HRW futures are slipping back by2 to 3 ¼ cents at midday. CBT futures are trading with contracts...

KEZ25 : 538-0 (+0.14%)
KEU25 : 518-4 (+0.05%)
MWU25 : 5.7500 (-0.30%)
ZWU25 : 519-6 (+1.02%)
ZWZ25 : 539-6 (+0.89%)
How Are US Grain Exports Doing?

As July came to an end, cumulative export sales and shipments of US grains (corn, soybeans, and wheat) created an interesting picture.

$CRSI : 541.60 (+0.71%)
$CSWI : 457.40 (-0.88%)
$CRWI : 468.46 (-0.62%)
$CNCI : 365.37 (-0.59%)
$CNSI : 929.32 (-0.75%)
Corn Easing Back on Friday

Corn price action is showing fractional to penny losses early on Friday. Futures held onto the Thursday gains into the close, after December held the $4 mark on Wednesday. Contracts closed with 4 to 6...

ZCZ25 : 407-6 (+0.55%)
ZCZ25 : 407-6 (+0.55%)
ZCU25 : 385-2 (+0.65%)
ZCPZ25US.CM : 3.7442 (-0.42%)
ZCPAUS.CM : 3.6538 (-0.48%)
Wheat Sticking Near Unchanged on Friday Morning

Wheat is steady to kick off the last trade day of the week, as contracts are mostly within 2 cents of unchanged. The wheat complex saw some double digit gains on Thursday, as a majority of the three exchanges...

KEZ25 : 538-0 (+0.14%)
KEU25 : 518-4 (+0.05%)
MWU25 : 5.7500 (-0.30%)
ZWU25 : 519-6 (+1.02%)
ZWZ25 : 539-6 (+0.89%)
Soybeans Slip Back to Start Friday

Soybeans are trading with 1 to 2 cent losses so far on Friday morning. Futures rallied back on Thursday, with contracts up 9 to 10 ¼ cents at the close. Open interest was up 20,965 contracts on Thursday,...

ZSPAUS.CM : 9.2830 (-0.74%)
ZLZ25 : 53.34 (+1.54%)
ZMZ25 : 290.8 (+1.96%)
ZSX25 : 1014-0 (+2.68%)
ZSQ25 : 966-6s (-0.51%)
ZSU25 : 994-2 (+2.74%)
ZSPX25US.CM : 9.2033 (-0.69%)
Wheat Posts Thursday Strength

The wheat complex saw some double digit gains on Thursday, as a majority of the three exchanges were higher. KC HRW posted a 9 to 10 cent gain across most nearby contracts at the final bell. CBT futures...

KEZ25 : 538-0 (+0.14%)
KEU25 : 518-4 (+0.05%)
MWU25 : 5.7500 (-0.30%)
ZWU25 : 519-6 (+1.02%)
ZWZ25 : 539-6 (+0.89%)
Corn Closes Thursday with Gains as Export Business Gives Bulls a Boost

Corn futures held onto the Thursday gains into the close, after December held the $4 mark on Wednesday. Contracts closed with 4 to 6 cent gains. The CmdtyView national average Cash Corn price was up 4...

ZCZ25 : 407-6 (+0.55%)
ZCZ25 : 407-6 (+0.55%)
ZCU25 : 385-2 (+0.65%)
ZCPZ25US.CM : 3.7442 (-0.42%)
ZCPAUS.CM : 3.6538 (-0.48%)
Soybeans Post Gains on Thursday

Soybeans rallied back on Thursday, with contracts up 9 to 10 ¼ cents at the close. The cmdtyView national average Cash Bean price was back up 8 1/2 cents at $9.35 1/4. Soymeal futures bounced back, with...

ZSPAUS.CM : 9.2830 (-0.74%)
ZLZ25 : 53.34 (+1.54%)
ZMZ25 : 290.8 (+1.96%)
ZSX25 : 1014-0 (+2.68%)
ZSQ25 : 966-6s (-0.51%)
ZSU25 : 994-2 (+2.74%)
ZSPX25US.CM : 9.2033 (-0.69%)

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 1242-6
Fibonacci 61.8% 995-4
Fibonacci 50% 919-1
Fibonacci 38.2% 842-6
Last Price 624-4s
52-Week Low 595-4

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