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Wheat May '24 (ZWK24)

657-0s -13-2 (-1.98%) 05/14/24 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Tue, May 14th, 2024
Day Low
657-0
Day High
657-0
Open 0-0
Previous Close 670-2 670-2
Volume 19 19
Open Interest 35 35
Stochastic %K 94.21% 94.21%
Weighted Alpha +3.92 +3.92
5-Day Change +32-2 (+5.16%) +32-2 (+5.16%)
52-Week Range 523-4 - 808-6 523-4 - 808-6
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Wheat Futures Market News and Commentary

Wheat Rallies into the Close

The wheat complex posted gains on Friday, with contracts closing near their highs. Chicago SRW futures were 9 to 10 cents in the green at Friday’s close, as July rallied 20 ¾ cents on the week. Kansas City HRW contracts were 6 to 7 cents higher, with front month July popping 16 cents since last Friday. Minneapolis spring wheat futures saw 8 to 10 cent gains, as July was up 9 ¾ cents this week.

Rains in much of southern KS, OK, and TX in the next week may put a slowdown in much early harvest activity.

Money managers in Chicago wheat futures and options trimmed back their net short position by 654 contracts to 100,572 contracts as of June 3rd. In Kansas City wheat, spec funds covered some of their large net short position, reducing it by 1,333 contracts to 78,028 contracts.

USDA’s Export Sales report shows the US forward book of 2025/26 wheat sales at 5.366 MMT, the highest for this week since 2021. That is already 24.5% of the USDA forecast for new crop exports.

... 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
04/30/24
Expiration Date
05/14/24 (expired)

Seasonal Chart

Wheat May '24
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Jun 3, 2025

View Chart Details
Commercials - Long / Short
182,990 (-3,985)
87,212 (-3,702)
Non-Commercials - Long / Short
112,261 (-2,940)
209,335 (-4,621)
Producers - Long / Short
89,498 (+651)
54,933 (-2,121)
Swap Dealers - Long / Short
68,450 (-1,403)
7,237 (+1,652)
Managed Money - Long / Short
80,948 (-2,146)
175,491 (-1,458)
Other Reportables - Long / Short
31,313 (-794)
33,844 (-3,163)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
534-2 +22.98%
on 04/18/24
Period Open: 556-0
671-0 -2.09%
on 05/13/24
+101-0 (+18.17%)
since 04/12/24
3-Month
523-4 +25.50%
on 03/11/24
Period Open: 583-0
671-0 -2.09%
on 05/13/24
+74-0 (+12.69%)
since 02/14/24
52-Week
523-4 +25.50%
on 03/11/24
Period Open: 682-4
808-6 -18.76%
on 07/25/23
-25-4 (-3.74%)
since 05/12/23

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Wheat Rallies into the Close

The wheat complex posted gains on Friday, with contracts closing near their highs. Chicago SRW futures were 9 to 10 cents in the green at Friday’s close, as July rallied 20 ¾ cents on the week. Kansas...

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Wheat Slipping Back Lower on Friday AM Trade

The wheat complex is trading with slight losses so far on Friday morning. Wheat is mixed at midday, as most contracts are sticking close to unchanged on Thursday. Chicago SRW futures posted gains of 2...

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Corn Easing Back Lower to Start Friday

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Wheat Turns to Close Mostly Higher on Thursday

Wheat is mixed at midday, as most contracts are sticking close to unchanged on Thursday. Chicago SRW futures posted gains of 2 to 3 cents across most contracts. Kansas City HRW contracts were up 1 to 2...

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Corn Rides Out Early Back and Forth Trade to Close with Gains

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 657-0
2nd Resistance Point 657-0
1st Resistance Point 657-0
Last Price 657-0s
1st Support Level 657-0
2nd Support Level 657-0
3rd Support Level 657-0

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52-Week High 808-6
Fibonacci 61.8% 699-6
Fibonacci 50% 666-1
Last Price 657-0s
Fibonacci 38.2% 632-4
52-Week Low 523-4

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