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Wheat Jul '23 (ZWN23)
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Wheat Futures Market News and Commentary

Wheat Back to Sliding Lower So Far

The wheat market is currently back in the red after a bounce on Tuesday. CBT SRW futures are 5 to 6 ¼ cents in the red. KC HRW is trading down by as much as 1.6% through midday. MGE HRS futures are down 7 to 10 ½ cents at midday. 

Trader estimates for the weekly Export Sales report range from 250,000 MT and 600,000 MT during the week that ended 9/28. Survey respondents are looking for less than 25k MT for new crop wheat business. 

Ukraine’s Ag Ministry reported 2.99m HA for winter grains. That included 1.7m HA of winter wheat - +58% from last year. 

Interfax reported Russian grain exports at 17.7 MMT for the MY through 9/21, which includes 13.5 MMT of wheat.  Ukraine’s current wheat production estimate is 21.7 MMT, a bit below the 22.5 MMT USDA is using. 

 

Dec 23 CBOT Wheat  closed at $5.60, down 8 1/2 cents,

Mar 24 CBOT Wheat  closed at $5.89, down 8 3/4 cents,

Cash SRW Wheat  was $4.76, down 8 1/2 cents,

Dec 23 KCBT Wheat  closed at... 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
$3,630/3,300
First Notice Date
06/30/23
Expiration Date
07/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Sep 26, 2023

View Chart Details
Commercials - Long / Short
139,031 (+6,391)
84,030 (+1,856)
Non-Commercials - Long / Short
120,641 (-652)
180,655 (+2,425)
Producers - Long / Short
67,040 (+4,614)
68,368 (-46)
Swap Dealers - Long / Short
57,392 (-365)
1,063 (-240)
Managed Money - Long / Short
66,272 (+3,124)
168,689 (+1,589)
Other Reportables - Long / Short
54,369 (-3,776)
11,966 (+836)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
614-2 +4.44%
on 07/13/23
756-6 -15.23%
on 06/26/23
+11-2 (+1.79%)
since 06/14/23
3-Month
573-2 +11.91%
on 05/31/23
756-6 -15.23%
on 06/26/23
-51-0 (-7.36%)
since 04/14/23
52-Week
573-2 +11.91%
on 05/31/23
949-4 -32.44%
on 10/10/22
-184-0 (-22.29%)
since 07/14/22

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Wheat Back to Sliding Lower So Far

The wheat market is currently back in the red after a bounce on Tuesday. CBT SRW futures are 5 to 6 ¼ cents in the red. KC HRW is trading down by as much as 1.6% through midday. MGE HRS futures are down...

ZWZ23 : 565-0 (+0.89%)
ZWH24 : 593-4 (+0.76%)
ZWPAES.CM : 4.7606 (-1.75%)
KEZ23 : 672-0 (+0.83%)
KEPAWS.CM : 6.0402 (-2.63%)
MWZ23 : 718-6 (+0.98%)
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Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Strong Signal Strength.

Key Turning Points

3rd Resistance Point 641-4
2nd Resistance Point 641-4
1st Resistance Point 641-4
Last Price 641-4s
1st Support Level 641-4
2nd Support Level 641-4
3rd Support Level 641-4

See More

52-Week High 949-4
Fibonacci 61.8% 805-6
Fibonacci 50% 761-3
Fibonacci 38.2% 717-0
Last Price 641-4s
52-Week Low 573-2

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