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Wheat May '23 (ZWK23)

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Wheat Futures Market News and Commentary

Wheat Back to Falling Lower on Thursday

The wheat complex is lower across the three markets so far on Thursday. Chicago SRW contracts are down 13 to 14 cents in the front months KC HRW futures are leading the charge lower, with contracts down 17 to 18 cents. MPLS spring wheat is trading with contracts 15 to 16 cents in the red at midday. 

Fresh Export Sales data was out this morning, with a total of 296,427 MT reported in the week of July 30, which was on the lower side of 250,000 to 450,000 MT estimates. That was a 4-week high for sales, but still 59.82% below the same week last year.  

Concerns remain about the flow of exports out of the Black Sea as the Russia/Ukraine conflicts has ramped up attacks on vessels and port in recent weeks. Russia struck a Ukrainian vessel loaded with wheat late on Wednesday.

Expana estimates the EU wheat crop at 126.8 MMT, which was down 1.5 MMT from their previous number. A South Korean mill importer purchased 36,800 MT of wheat from the US on Thursday. 

Sep 26 CBO... 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 Jul 28, 2026

View Chart Details
Commercials - Long / Short
173,966 (-1,735)
169,507 (+5,993)
Non-Commercials - Long / Short
119,046 (+9,471)
121,038 (+4,454)
Producers - Long / Short
65,697 (-5,089)
128,258 (+2,646)
Swap Dealers - Long / Short
82,515 (+37)
15,495 (+30)
Managed Money - Long / Short
85,168 (+10,962)
93,331 (+726)
Other Reportables - Long / Short
33,878 (-1,491)
27,707 (+3,728)
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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Wheat Back to Falling Lower on Thursday

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Wheat Starting Thursday with Slightly Mixed Trade

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ZWZ26 : 650-6 (-1.59%)
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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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