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Wheat May '24 (ZWK24)

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Wheat Futures Market News and Commentary

Wheat Back to Mixed Trade on Monday

Wheat is showing mixed action with soft wheat weaker and hard red contracts higher. The wheat complex saw continued weakness on Friday, though a few contracts did end higher. Chicago SRW futures were 1 ¾ to 6 cents in the red on the day, as July fell 30 ½ cents on the week. Preliminary open interest was down 10,507 contracts, mainly in July. KC HRW futures saw a ½ cent gain in July on Friday, as the rest of the board was ½ to 6 cents lower, with July down 29 cents this week. Open interest was down 11,168 contracts. MPLS spring wheat was down 1 ½ to 3 cents higher in most contracts, as July fell 44 ¼ cents since last Friday. Crude oil losses of $2.79 added some modest pressure.

Weekly Commitment of Traders data from CFTC showed managed money in Chicago wheat futures and options with the largest Tuesday/Tuesday bear move on record (back to 2006), adding 39,165 contracts to their net short at 57,871 contracts by June 2. In Kansas City wheat futures and options, specs trimmed thei... 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
$2,145/1,950
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 2, 2026

View Chart Details
Commercials - Long / Short
174,825 (+12,468)
136,386 (-18,441)
Non-Commercials - Long / Short
124,550 (-19,636)
165,312 (+11,668)
Producers - Long / Short
63,447 (+13,907)
107,380 (-17,842)
Swap Dealers - Long / Short
102,025 (-1,782)
19,653 (-942)
Managed Money - Long / Short
80,071 (-25,555)
134,711 (+12,931)
Other Reportables - Long / Short
44,479 (+5,919)
30,601 (-1,263)
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
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
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
808-6 -18.76%
on 07/25/23
-25-4 (-3.74%)
since 05/12/23

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Wheat Back to Mixed Trade on Monday

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Wheat Closes with Mixed Trade on Friday

The wheat complex saw continued weakness on Friday, though a few contracts did end higher. Chicago SRW futures were 1 ¾ to 6 cents in the red on the day, as July fell 30 ½ cents on the week. KC HRW futures...

KEU26 : 634-6 (+0.51%)
KEN26 : 625-2 (+0.72%)
MWN26 : 6.1900 (-0.08%)
ZWN26 : 579-4 (-0.09%)
ZWU26 : 591-4 (-0.21%)

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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