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Wheat Jul '23 (ZWN23)

641-4s +14-0 (+2.23%) 07/14/23 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Fri, Jul 14th, 2023
Day Low
641-4
Day High
641-4
Open 0-0
Previous Close 627-4 627-4
Volume 52 52
Open Interest 21 21
Stochastic %K 14.99% 14.99%
Weighted Alpha -23.67 -23.67
5-Day Change +2-0 (+0.31%) +2-0 (+0.31%)
52-Week Range 573-2 - 949-4 573-2 - 949-4
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Wheat Futures Market News and Commentary

Wheat Posts Mixed Trade on Wednesday

The wheat complex ended Wednesday on a mixed note, as the hard red contracts were busy posting slight strength. Chicago SRW wheat was fractionally lower to close out the session. KC HRW contracts posted slight 1 to 2 cent gains at the close. MPLS spring wheat was up 1 to 2 cents on Wednesday. Rains across parts of the TX panhandle to NE may slow some harvest progress in the next week, with MT/ND remaining dry.

President Trump issued more letters to countries this morning notifying them of the August 1 increase in tariffs, namely a 20% tariff on the Philippines. 

USDA will release their weekly Export Sales report on Thursday with traders surveyed by Reuters looking for 200,000 to 600,000 MT in wheat sales.

Crop Production data will be updated on Friday, with a Bloomberg survey of analysts showing all wheat production tightening by 14 mbu to 1.907 bbu, mainly on the lower harvested acres found at the end of June. Winter wheat is seen at 1.362 bbu, down 19 mbu from la... 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
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 Jul 1, 2025

View Chart Details
Commercials - Long / Short
151,626 (+223)
76,650 (+1,077)
Non-Commercials - Long / Short
104,520 (+7,638)
174,156 (+6,082)
Producers - Long / Short
66,605 (-5,072)
57,515 (+887)
Swap Dealers - Long / Short
73,197 (+5,350)
7,311 (+245)
Managed Money - Long / Short
78,424 (+7,676)
141,838 (+7,222)
Other Reportables - Long / Short
26,096 (-38)
32,318 (-1,140)
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
Period Open: 630-2
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
Period Open: 692-4
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
Period Open: 825-4
949-4 -32.44%
on 10/10/22
-184-0 (-22.29%)
since 07/14/22

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Most Recent Stories

More News
Corn Holds Higher into the Wednesday Close

Corn bulls showed up on Wednesday to defend the $4 level on September, but fell short by the close. Contracts were still 1 to 2 cents in the green at the close. The front month CmdtyView national average...

ZCZ25 : 413-6 (-0.42%)
ZCU25 : 397-4 (-0.44%)
ZCN25 : 414-0 (+0.36%)
ZCPZ25US.CM : 3.8241 (+0.30%)
ZCPAUS.CM : 3.8547 (+0.39%)
Soybeans Pressured to Close with Double Digit Losses on Wednesday

Soybeans slipped even further into the Wednesday close, as most contracts were down 10 to 12 cents at the final bell. The cmdtyView national average Cash Bean price was down 12 1/2 cents at $9.68 ½. Soymeal...

ZSPAUS.CM : 9.6845 (-1.28%)
ZLZ25 : 53.67 (+0.75%)
ZMZ25 : 282.3 (-0.21%)
ZSX25 : 1009-0 (+0.17%)
ZSN25 : 1012-2s (-1.17%)
ZSQ25 : 1005-4 (-0.35%)
ZSPX25US.CM : 9.4857 (-1.10%)
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Wheat Posts Mixed Trade on Wednesday

The wheat complex ended Wednesday on a mixed note, as the hard red contracts were busy posting slight strength. Chicago SRW wheat was fractionally lower to close out the session. KC HRW contracts posted...

KEU25 : 520-2 (-0.72%)
KEN25 : 505-4s (+0.40%)
MWN25 : 6.1400s (+0.16%)
ZWN25 : 542-6s (-0.05%)
ZWU25 : 542-6 (-0.78%)
WALSH PURE SPREADER

(Feb’26 Live Cattle x 2) - Aug’25 Feeder Cattle - SEP’25 Corn    (LEG26 x 2) - GFQ25 – ZCU25

Shootin' the Bull about, Can everyone compete?

In my opinion alone, and not to be confused with fact, enough vertical integration is believed to have solidified that those outside of are having a difficult time competing at current price levels.

Walsh Corn Supply & Demand - Pure Hedge

A look at corn supply and demand before the July WASDE report + a special trading opportunity.

The Golden Rule of Grains: Why "Imaginary Fundamentals" Are Crushing Corn & Soybeans

In a "Markets Now" interview, Darin Newsom asserted that "fundamentals win in the end," explaining that grain markets face continued pressure from ample supply and declining export demand, while cattle...

ZSQ25 : 1005-4 (-0.35%)
LEQ25 : 219.775s (-0.09%)
NGQ25 : 3.209 (-0.16%)
ZCU25 : 397-4 (-0.44%)
Corn Trying to Put Together a Midweek Bounce

Corn is trading with gains of 1 to 3 cents across the front months at Wednesday’s midday in an attempt by September to claw its way back above $4. The front month CmdtyView national average Cash Corn...

ZCZ25 : 413-6 (-0.42%)
ZCU25 : 397-4 (-0.44%)
ZCN25 : 414-0 (+0.36%)
ZCPZ25US.CM : 3.8241 (+0.30%)
ZCPAUS.CM : 3.8547 (+0.39%)
Soybeans Still Feeling Pressure on Wednesday

Soybeans are posting 5 to 8 cent losses across the nearby contracts on Wednesday. The cmdtyView national average Cash Bean price is down 8 cents at $9.73. Soymeal futures were down $1.20/ton, as Soy Oil...

ZSPAUS.CM : 9.6845 (-1.28%)
ZLZ25 : 53.67 (+0.75%)
ZMZ25 : 282.3 (-0.21%)
ZSX25 : 1009-0 (+0.17%)
ZSN25 : 1012-2s (-1.17%)
ZSQ25 : 1005-4 (-0.35%)
ZSPX25US.CM : 9.4857 (-1.10%)
Soybeans Weaker to Start Midweek Trade

Soybeans are trading with losses of 3 to 4 cents early on Wednesday. Futures posted 3 to 10 ¼ cent losses across most contracts on Tuesday. Preliminary open interest dropped 2,226 contracts on Tuesday....

ZSPAUS.CM : 9.6845 (-1.28%)
ZLZ25 : 53.67 (+0.75%)
ZMZ25 : 282.3 (-0.21%)
ZSX25 : 1009-0 (+0.17%)
ZSN25 : 1012-2s (-1.17%)
ZSQ25 : 1005-4 (-0.35%)
ZSPX25US.CM : 9.4857 (-1.10%)
Corn Slide Continuing on Wednesday Morning

Corn prices are down fractionally to 2 cents early on Wednesday. Futures closed the Tuesday session with contracts down 5 to 7 cents, as September fell below the $4 mark. Preliminary open interest was...

ZCZ25 : 413-6 (-0.42%)
ZCU25 : 397-4 (-0.44%)
ZCN25 : 414-0 (+0.36%)
ZCPZ25US.CM : 3.8241 (+0.30%)
ZCPAUS.CM : 3.8547 (+0.39%)
Wheat Sneaking Lower on Wednesday AM Trade

Wheat is slipping back across the three exchanges this morning, with slight losses. The wheat complex weakness leaked into the Tuesday trade, closing mostly lower across the three markets. Chicago SRW...

KEU25 : 520-2 (-0.72%)
KEN25 : 505-4s (+0.40%)
MWN25 : 6.1400s (+0.16%)
ZWN25 : 542-6s (-0.05%)
ZWU25 : 542-6 (-0.78%)
Will it Be a Watson Wednesday?

Since most markets didn't see the need to Turnaround yesterday, maybe today - the first day of the new positioning week for noncommercial interests - will prove to be a Watson Wednesday.

ZWU25 : 542-6 (-0.78%)
ZSX25 : 1009-0 (+0.17%)
ZCU25 : 397-4 (-0.44%)
KEU25 : 520-2 (-0.72%)
Stars may align for soybean oil market this summer

Soybean oil was the only grain market that was higher today, July 8. When one grain market goes up while the others go down, that catches my attention. Soybean oil is an agricultural market with strong...

Soybeans Losses Extend to Tuesday

Soybeans posted 3 to 10 ¼ cent losses across most contracts on Tuesday. The cmdtyView national average Cash Bean price was down 8 3/4 cents at $9.81. Soymeal futures were down $1.30 to $1.90/ton, as Soy...

ZSPAUS.CM : 9.6845 (-1.28%)
ZLZ25 : 53.67 (+0.75%)
ZMZ25 : 282.3 (-0.21%)
ZSX25 : 1009-0 (+0.17%)
ZSN25 : 1012-2s (-1.17%)
ZSQ25 : 1005-4 (-0.35%)
ZSPX25US.CM : 9.4857 (-1.10%)
Corn Falls to New Contract Lows with September Below $4

Corn futures closed the Tuesday session with contracts down 5 to 7 cents, as September fell below the $4 mark. The front month CmdtyView national average Cash Corn price was down a nickel at $3.84. USDA...

ZCZ25 : 413-6 (-0.42%)
ZCU25 : 397-4 (-0.44%)
ZCN25 : 414-0 (+0.36%)
ZCPZ25US.CM : 3.8241 (+0.30%)
ZCPAUS.CM : 3.8547 (+0.39%)
Wheat Losses Extend to Tuesday

The wheat complex weakness leaked into the Tuesday trade, closing mostly lower across the three markets. Chicago SRW wheat was fractionally lower in most contracts. KC HRW contracts were 5 to 6 cents in...

KEU25 : 520-2 (-0.72%)
KEN25 : 505-4s (+0.40%)
MWN25 : 6.1400s (+0.16%)
ZWN25 : 542-6s (-0.05%)
ZWU25 : 542-6 (-0.78%)
Pure Hedge - Livestock and Grain

New Contract Highs in the Fats and Feeders - New Contract Lows in the Corn

Grain Spreads: KC/Chicago Wheat

Wheat Depressed as Chicago Advances Premium over KC

Walsh Pure Technicals

Grain Technicals

Wheat Continuing Lower on Tuesday

The wheat complex is continuing the pullback into Tuesday trade. Chicago SRW wheat is 1 to 2 cents lower in the nearbys on Tuesday, with the nearby July an exception. KC HRW contracts are showing 3 to...

KEU25 : 520-2 (-0.72%)
KEN25 : 505-4s (+0.40%)
MWN25 : 6.1400s (+0.16%)
ZWN25 : 542-6s (-0.05%)
ZWU25 : 542-6 (-0.78%)
Corn Pushing to New Lows as Conditions Improve

Corn futures are extending the losses on Tuesday with September flirting with $4 and contracts down 2 to 4 cents. There were 77 deliveries issued against July corn futures overnight. The front month CmdtyView...

ZCZ25 : 413-6 (-0.42%)
ZCU25 : 397-4 (-0.44%)
ZCN25 : 414-0 (+0.36%)
ZCPZ25US.CM : 3.8241 (+0.30%)
ZCPAUS.CM : 3.8547 (+0.39%)
Soybeans Holding Lower on Tuesday

Soybeans are showing losses of 2 to 6 cents on Tuesday’s midday. There were 86 deliveries issued against July soybean overnight, all by the ADM house account. The cmdtyView national average Cash Bean...

ZSPAUS.CM : 9.6845 (-1.28%)
ZLZ25 : 53.67 (+0.75%)
ZMZ25 : 282.3 (-0.21%)
ZSX25 : 1009-0 (+0.17%)
ZSN25 : 1012-2s (-1.17%)
ZSQ25 : 1005-4 (-0.35%)
ZSPX25US.CM : 9.4857 (-1.10%)
Selling pressure continues in grain markets

The lack of a bullish catalyst keeps buyers at bay and sellers busy selling

Wheat Losses Pushing to Tuesday

Wheat is trading with losses across the three markets on Tuesday morning. The wheat complex fell on Monday, coming out of the long weekend on a sour note. Chicago SRW wheat was down 8 to 9 cents. Preliminary...

KEU25 : 520-2 (-0.72%)
KEN25 : 505-4s (+0.40%)
MWN25 : 6.1400s (+0.16%)
ZWN25 : 542-6s (-0.05%)
ZWU25 : 542-6 (-0.78%)
Corn Weakens Further as Conditions Improve

Corn prices are continuing the weakness into Tuesday AM trade, with losses of 1 to 3 1/2 cents. Futures posted Monday losses of 13 to 17 cents across the front months following a gap lower at the open....

ZCZ25 : 413-6 (-0.42%)
ZCU25 : 397-4 (-0.44%)
ZCN25 : 414-0 (+0.36%)
ZCPZ25US.CM : 3.8241 (+0.30%)
ZCPAUS.CM : 3.8547 (+0.39%)
Soybeans Weakness Extends to Tuesday Morning

Soybeans are extending the losses to 4 to 8 cents early on Tuesday. Futures collapsed on Monday, closing with losses of 24 to 29 cents on Monday. Preliminary open interest rose 4,268 contracts on Monday....

ZSPAUS.CM : 9.6845 (-1.28%)
ZLZ25 : 53.67 (+0.75%)
ZMZ25 : 282.3 (-0.21%)
ZSX25 : 1009-0 (+0.17%)
ZSN25 : 1012-2s (-1.17%)
ZSQ25 : 1005-4 (-0.35%)
ZSPX25US.CM : 9.4857 (-1.10%)
Dec. Corn Rejected at 38.2% (440.00)

Educational and Actionable information using Fibonacci and W.D. Gann analysis.

ZCZ25 : 413-6 (-0.42%)
Corn Falls on Monday as Some Tariffs Get an Increase

Corn futures posted Monday losses of 13 to 17 cents across the front months following a gap lower at the open. The front month CmdtyView national average Cash Corn price was down 16 1/2 cents at $3.89....

ZCZ25 : 413-6 (-0.42%)
ZCU25 : 397-4 (-0.44%)
ZCN25 : 414-0 (+0.36%)
ZCPZ25US.CM : 3.8241 (+0.30%)
ZCPAUS.CM : 3.8547 (+0.39%)

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

See More

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