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Wheat Jul '23 (ZWN23)

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Wheat Futures Market News and Commentary

Wheat Closes with Losses After Slow Export Sales

The wheat complex closed with weakness across the three markets on Thursday. Chicago SRW futures were 4 ¼ to 4 3/4 cents lower across the board. KC HRW contracts were down 4 ¼ to 5 cents on the day. MPLS spring wheat closed with steady to 5 cent losses across the board on the session.

The weekly Export Sales report showed 290,236 MT of wheat sold in the week of 12/5, on the lower end of the estimates running between 275,000 and 600,000 MT. That was an 11-week low for sales and was down 23.27% from last week. Sales were spread out, with the Philippines buying 92,000 MT and Mexico in for 73,700 MT

Japan purchased a total of 112,889 MT of wheat from Australia, Canada, and the US, with 58,986 MT US specific. Saudi Arabia has issued a tender to buy 595,000 MT of wheat, with offered due on Friday. 

Dec 24 CBOT Wheat  closed at $5.38 3/4, down 4 3/4 cents,

Mar 25 CBOT Wheat  closed at $5.58 1/2, down 4 3/4 cents,

Dec 24 KCBT Wheat  closed at $5.46 1/4, down 3... 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
$1,925/1,750
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 Dec 3, 2024

View Chart Details
Commercials - Long / Short
162,383 (+7,575)
96,048 (-327)
Non-Commercials - Long / Short
125,216 (+5,590)
186,753 (+14,935)
Producers - Long / Short
72,495 (+10,671)
71,171 (+523)
Swap Dealers - Long / Short
70,434 (-465)
5,423 (+1,781)
Managed Money - Long / Short
82,223 (+3,051)
153,184 (+13,254)
Other Reportables - Long / Short
42,993 (+2,539)
33,569 (+1,681)
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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Most Recent Stories

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Cattle Makes New High Then Falls Back

Cattle Makes new all-time high for the lead contract then breaks down

Corn Falls on Thursday After Weak Export Sales Data

The corn market closed out the Thursday session with contracts down ½ to 6 ¼ cents, retreating from the early week rally. The national average Cash Corn price from cmdtyView was down 5 cents at $4.15....

ZCPAUS.CM : 4.1488 (-1.20%)
ZCZ24 : 431-6s (-1.43%)
ZCZ24 : 431-6s (-1.43%)
ZCH25 : 443-4s (-1.06%)
Wheat Closes with Losses After Slow Export Sales

The wheat complex closed with weakness across the three markets on Thursday. Chicago SRW futures were 4 ¼ to 4 3/4 cents lower across the board. KC HRW contracts were down 4 ¼ to 5 cents on the day....

KEH25 : 562-6s (-0.79%)
MWZ24 : 582-2s (unch)
KEZ24 : 546-2s (-0.82%)
ZWZ24 : 538-6s (-0.87%)
ZWH25 : 558-4s (-0.84%)
Soybeans Close Near Unchanged on Thursday

The soybean market posted a mixed Thursday close, as contracts were down 1 ¾ to ½ cent higher. CmdtyView’s national front month Cash Bean price was steady at $9.46 1/2. Soymeal futures were down $1.1...

ZLH25 : 43.00s (+0.68%)
ZMH25 : 296.7s (-0.47%)
ZSPAUS.CM : 9.4640 (+0.01%)
ZSF25 : 995-6s (+0.03%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 1003-2s (+0.05%)
Shootin' the Bull about who owns what and where.

Open interest increased significantly at the known top of the market. This means that every new long position in futures owns cattle at near contract highs, and not too far from all time cash high.

Corn Retreats While Soybeans Hold Their Own

Corn has been outperforming soybeans as of late, are the tides about to turn?

Soybeans Pulling Back at Midday

The soybean market is showing 4 to 6 cent losses in the front months on Thursday. CmdtyView’s national front month Cash Bean price is down 5 1/2 cents at $9.41 3/4. Soymeal futures are down $2.70/ton...

ZLH25 : 43.00s (+0.68%)
ZMH25 : 296.7s (-0.47%)
ZSPAUS.CM : 9.4640 (+0.01%)
ZSF25 : 995-6s (+0.03%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 1003-2s (+0.05%)
Corn Heading Lower After Weak Export Sales Data

The corn market is facing 4 to 6 cent losses across the nearbys to Thursday’s midday. There were 172 deliveries issued against December corn futures overnight, all by a Marex customer. The national average...

ZCPAUS.CM : 4.1488 (-1.20%)
ZCZ24 : 431-6s (-1.43%)
ZCZ24 : 431-6s (-1.43%)
ZCH25 : 443-4s (-1.06%)
Wheat Slipping After Slow Export Sales

The wheat complex is trading with weakness across the three markets at midday. Chicago SRW futures are 6 1/2 cents lower in the March contract. There were another 5 deliveries issued against December CBT...

KEH25 : 562-6s (-0.79%)
MWZ24 : 582-2s (unch)
KEZ24 : 546-2s (-0.82%)
ZWZ24 : 538-6s (-0.87%)
ZWH25 : 558-4s (-0.84%)
Soybean Market Analysis with Video

Trent Klarenbach of Klarenbach Research discusses the state of the soybean market as of December 11, 2024 analying the weekly and daily trends with a focus on key moving averages and levels of support...

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

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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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