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Wheat May '23 (ZWK23)

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Wheat Futures Market News and Commentary

Wheat Extends to 3-year Highs on Thursday

Wheat is extending the rally to Friday, with contracts 6 to 11 cents higher. The wheat complex pushed the recent strength to 3-year highs in the winter wheat exchanges on Thursday. Chicago SRW contracts ended the session with contracts 8 to 12 ½ cents higher. Open interest was up 4,998 contracts on Thursday, with September down 6,943 ahead of FND on Monday. KC HRW futures posted gains of 10 to 13 ¼ cents on Thursday. OI was up just 1,468 contracts. MPLS spring wheat saw 5 to 11 ¼ cent gains to close the day.

The Black Sea conflict continues to remain elevated following Wednesday’s reports that Russia is looking to escalate. The next 4 month period is normally peak shipment season. 

Export Sales data from this morning showed a total of 402,531 MT of 2026/27 wheat sold in the week of 8/20. That was a 9-week high but still 30.57% below the same week last year. Mexico was the top buyer of 78,500 MT, with 71,900 MT sold to Japan and 65,000 MT to Vietnam

EU wheat product... 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
$1,870/1,700
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 18, 2026

View Chart Details
Commercials - Long / Short
162,266 (-9,586)
145,885 (-3,213)
Non-Commercials - Long / Short
114,685 (-294)
133,450 (-6,439)
Producers - Long / Short
50,755 (-14,193)
117,208 (-372)
Swap Dealers - Long / Short
96,879 (+7,074)
14,045 (-374)
Managed Money - Long / Short
78,911 (+902)
104,239 (-7,170)
Other Reportables - Long / Short
35,774 (-1,196)
29,211 (+731)
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
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
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
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
Wheat Futures Surge to Three-Year Highs as Black Sea War Risk Escalates

Wheat futures (ZW) have pushed to fresh three-year highs this week, with the rally accelerating after Russia signaled it intends to intensify attacks on Ukraine following the breakdown of peace talks....

Soybeans Pushing Double Digits Higher on Friday AM Trade

Soybeans are trading with Friday morning gains of 8 to 11 cents. Futures closed Thursday with contracts up 1 to 2 ¼ cents on the day. Open interest was up just 774 contracts on Thursday. The cmdtyView...

ZSPAUS.CM : 12.4553 (+1.09%)
ZLZ26 : 70.06 (+2.26%)
ZMZ26 : 344.9 (+1.17%)
ZSPX26US.CM : 12.2366 (+1.04%)
ZSX26 : 1279-4 (+0.91%)
ZSU26 : 1268-6 (+0.97%)
ZSX26 : 1279-4 (+0.91%)
Wheat Extends to 3-year Highs on Thursday

Wheat is extending the rally to Friday, with contracts 6 to 11 cents higher. The wheat complex pushed the recent strength to 3-year highs in the winter wheat exchanges on Thursday. Chicago SRW contracts...

KEZ26 : 833-2 (+1.37%)
KEU26 : 812-6 (+1.15%)
MWU26 : 7.3675 (+0.55%)
ZWU26 : 753-0 (+1.38%)
ZWZ26 : 771-4 (+1.41%)
Corn Back to Rally Mode Early on Friday

Corn price action is up 5 to 6 cents so far on Friday AM trade. Futures faded back on Thursday, after rallying in the first half of the week with contracts slipping 3 to 4 ¼ cents in the front months....

ZCZ26 : 539-2 (+1.08%)
ZCZ26 : 539-2 (+1.08%)
ZCU26 : 515-6 (+1.08%)
ZCPZ26US.CM : 5.0684 (+1.26%)
ZCPAUS.CM : 4.8800 (+1.24%)
DEC WHEAT-CORN SPREAD (ZWZ26-ZCZ26) - WALSH PURE SPREADER

WALSH PURE SPREADER - Pure Hedge Division

Wheat Extends to 3-year Highs on Thursday

The wheat complex pushed the recent strength to 3-year highs in the winter wheat exchanges on Thursday. Chicago SRW contracts ended the session with contracts 8 to 12 ½ cents higher. KC HRW futures posted...

KEZ26 : 833-2 (+1.37%)
KEU26 : 812-6 (+1.15%)
MWU26 : 7.3675 (+0.55%)
ZWU26 : 753-0 (+1.38%)
ZWZ26 : 771-4 (+1.41%)
Corn Bulls Take a Breather on Thursday’s Pullback

Corn futures faded back on Thursday, after rallying in the first half of the week with contracts slipping 3 to 4 ¼ cents in the front months. Deferreds were down as much at 8 ¼ cents. The CmdtyView national...

ZCZ26 : 539-2 (+1.08%)
ZCZ26 : 539-2 (+1.08%)
ZCU26 : 515-6 (+1.08%)
ZCPZ26US.CM : 5.0684 (+1.26%)
ZCPAUS.CM : 4.8800 (+1.24%)
Soybeans Hold onto Thursday Gains

Soybeans closed Thursday with contracts up 1 to 2 ¼ cents on the day. The cmdtyView national average Cash Bean price is up 2 3/4 cents at $12.32 1/2. Soymeal futures were steady to $1.60 higher on the...

ZSPAUS.CM : 12.4553 (+1.09%)
ZLZ26 : 70.06 (+2.26%)
ZMZ26 : 344.9 (+1.17%)
ZSPX26US.CM : 12.2366 (+1.04%)
ZSX26 : 1279-4 (+0.91%)
ZSU26 : 1268-6 (+0.97%)
ZSX26 : 1279-4 (+0.91%)
Hog Wild

February Hogs appear cheap

Pure Hedge - Livestock and Grain

MARKETS ARE MOVING - THIS IS JUST THE BEGINNING

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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