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Wheat Jul '24 (ZWN24)

538-0s -16-2 (-2.93%) 07/12/24 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Fri, Jul 12th, 2024
Day Low
538-0
Day High
538-0
Open 0-0
Previous Close 554-2 554-2
Volume 90 90
Open Interest 28 28
Stochastic %K 26.69% 26.69%
Weighted Alpha -25.33 -25.33
5-Day Change -34-2 (-5.99%) -34-2 (-5.99%)
52-Week Range 537-6 - 799-0 537-6 - 799-0
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Wheat Futures Market News and Commentary

Wheat Rallies on Tuesday

The wheat market saw higher trade across all three markets to close out Tuesday. Chicago SRW futures were 12 to 14 cents higher on Tuesday. Kansas City HRW contracts posted 11 to 12 cent gains on the session. Minneapolis spring wheat futures were 8 to 9 cents in the green at the close.

The weekly crop progress update from USDA showed the winter wheat harvest at 10% complete as of Sunday, behind the 16% average. Condition ratings were at 52% good/excellent, down 2% from last week. That equates to a 7 point drop on the Brugler500 index, to 334 points. Much of the drop came from NE (-24), MT (-18), NC (-20), ID (-15), TX (-12), and KS (-5). Just MI, OH, and OK were reported as improving. The spring wheat crop ratings were up 4 percent to 57% good to excellent. That was a 5 point improvement on the Brugler500 index to 353. Ratings in ND were up 12 points, with SD up 7. The rest of the reported states were lower, with ID down 13 and MN 12 lower. 

The French soft wheat harvest... 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
06/28/24
Expiration Date
07/12/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jun 10, 2025

View Chart Details
Commercials - Long / Short
168,704 (-14,286)
75,131 (-12,081)
Non-Commercials - Long / Short
108,768 (-3,493)
202,631 (-6,704)
Producers - Long / Short
85,777 (-3,721)
52,436 (-2,497)
Swap Dealers - Long / Short
67,989 (-461)
7,757 (+520)
Managed Money - Long / Short
78,641 (-2,307)
166,310 (-9,181)
Other Reportables - Long / Short
30,127 (-1,186)
36,321 (+2,477)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
538-0 unch
on 07/12/24
Period Open: 617-0
627-2 -14.23%
on 06/13/24
-79-0 (-12.80%)
since 06/12/24
3-Month
538-0 unch
on 07/12/24
Period Open: 570-6
720-0 -25.28%
on 05/28/24
-32-6 (-5.74%)
since 04/12/24
52-Week
537-6 +0.05%
on 03/11/24
Period Open: 681-6
799-0 -32.67%
on 07/25/23
-143-6 (-21.09%)
since 07/12/23

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 538-0
2nd Resistance Point 538-0
1st Resistance Point 538-0
Last Price 538-0s
1st Support Level 538-0
2nd Support Level 538-0
3rd Support Level 538-0

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52-Week High 799-0
Fibonacci 61.8% 699-2
Fibonacci 50% 668-3
Fibonacci 38.2% 637-4
Last Price 538-0s
52-Week Low 537-6

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