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Wheat Jul '25 (ZWN25)

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Wheat Futures Market News and Commentary

Wheat Rallies the Limit on Tuesday as USDA Releases Production Updates

The wheat complex was in rally mode on Tuesday, hitting the limit in a few contracts. Chicago SRW was up as little as 13 ½ cents in the deferreds to the 45 cent limit in July. KC HRW futures rallied from 27 ¼ cents higher to the limit in the front months on Tuesday. MPLS spring wheat joined in on the rally, with contracts up 17 ½ to 37 ½ cents. The CBT and KC markets will have expanded limits of 70 cents on Wednesday. 

The USDA Crop Production report from this morning showed winter wheat production at 1.048 bbu, which was well below estimates of 1.211 bbu. HRW production was seen at 514.8 mbu, with SRW at 300.9 mbu and white winter at 231.8 mbu. All wheat production was 1.561 bbu, 186 mbu below the average estimate.

The May WASDE showed old crop stocks at 935 mbu, which was down 3 mbu from the April total, on a 7 mbu cut to food and 10 mbu increase to exports. New crop US stocks were seen at 762 mbu, compared to estimates of 845 mbu, mainly on the lower production. World... 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
$2,035/1,850
First Notice Date
06/30/25
Expiration Date
07/14/25 (expired)

Seasonal Chart

Wheat Jul '25
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of May 5, 2026

View Chart Details
Commercials - Long / Short
137,098 (+10,355)
128,673 (-1,103)
Non-Commercials - Long / Short
128,830 (-3,506)
145,498 (+14,028)
Producers - Long / Short
34,192 (+6,290)
102,379 (+1,102)
Swap Dealers - Long / Short
96,942 (+3,962)
20,330 (-2,308)
Managed Money - Long / Short
98,031 (-6,955)
107,064 (+13,803)
Other Reportables - Long / Short
30,799 (+3,449)
38,434 (+225)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
520-4 +2.59%
on 06/27/25
578-2 -7.65%
on 06/20/25
-9-6 (-1.79%)
since 06/13/25
3-Month
506-2 +5.48%
on 05/13/25
578-2 -7.65%
on 06/20/25
-27-6 (-4.94%)
since 04/14/25
52-Week
506-2 +5.48%
on 05/13/25
656-2 -18.63%
on 10/03/24
-82-2 (-13.35%)
since 07/12/24

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Wheat Trading Mixed on Wednesday Morning

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KEN26 : 736-4 (+0.72%)
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MWK26 : 7.1525s (+5.53%)
ZWK26 : 664-2 (-0.11%)
ZWN26 : 679-4 (+0.07%)
U.S. and global wheat production projections down for 2026/2027

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ZLN26 : 75.24 (-0.16%)
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Wheat Rallies the Limit on Tuesday as USDA Releases Production Updates

The wheat complex was in rally mode on Tuesday, hitting the limit in a few contracts. Chicago SRW was up as little as 13 ½ cents in the deferreds to the 45 cent limit in July. KC HRW futures rallied from...

KEN26 : 736-4 (+0.72%)
KEK26 : 720-4s (+6.98%)
MWK26 : 7.1525s (+5.53%)
ZWK26 : 664-2 (-0.11%)
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Pure Hedge - Livestock and Grain

WASDE Report Sends the Grains Higher - Nervous Livestock Markets Dive Lower

Grain Spreads: Wheat Rips Higher

Bull Report Fuels KC Wheat Trade

Shootin' the Bull about inflicting casualties

Today's market venue is not for the faint of heart.  Massive volatility and price expanse are expected to inflict heavy casualties in the cattle industry.

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 534-0
2nd Resistance Point 534-0
1st Resistance Point 534-0
Last Price 534-0s
1st Support Level 534-0
2nd Support Level 534-0
3rd Support Level 534-0

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52-Week High 656-2
Fibonacci 61.8% 599-0
Fibonacci 50% 581-2
Fibonacci 38.2% 563-4
Last Price 534-0s
52-Week Low 506-2

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