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Hard Red Wheat Jul '21 (KEN21)

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Hard Red Wheat Futures Market News and Commentary

Wheat Futures Higher as Spring Wheat Still Looks Tough

Early Wednesday buying has futures 3 to 9 cents higher. At the close for the Tuesday session, wheat futures were mixed as winter wheat prices were down by double digits. Spring wheat futures on the MGE rallied enough to close the session fractionally lower to 1 1/4 cents higher. CBT SRW futures ended the session 1.8% to 2% weaker. HRW prices closed 2.1% to 2.4% lower on Tuesday.

cmdtyView data had the spot cash HRW/corn spread favoring corn by 54 3/4 cents, as wheat remains a viable feed substitute. Cash prices in September show the spread had widened from a 70 cent/bu HRW premium to an 89 1/2 cent premium at the close. 

South Korea’s MFG purchased 65,000 MT of optional origin feed wheat from their 140,000 MT tender. Japan is tendering for 207,472 MT of wheat – with 109,062 MT to be U.S. specific. Egypt cancelled their buying tender as high freight costs pushed landed prices above their comfort level. 

Jul 21 CBOT Wheat  closed at $6.61 1/2, down 13 cents; and up 3... Read more

Contract Specifications

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Contract
KC Hard 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
KCBT
Point Value
$50
Margin/Maintenance
$2,585/2,350
First Notice Date
06/30/21 (14 days)
Expiration Date
07/14/21 (28 days)

Seasonal Chart

Hard Red Wheat Jul '21
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Jun 8, 2021

View Chart Details
Commercials - Long / Short
92,201 (-6,078)
110,653 (-3,820)
Non-Commercials - Long / Short
57,171 (-2,475)
37,400 (-2,968)
Producers - Long / Short
35,354 (-4,786)
95,319 (-4,015)
Swap Dealers - Long / Short
52,477 (+22)
10,964 (+1,509)
Managed Money - Long / Short
48,979 (-1,977)
30,002 (-2,569)
Other Reportables - Long / Short
8,192 (-498)
7,398 (-399)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
588-0 +4.93%
on 05/26/21
670-4 -7.98%
on 05/18/21
-40-6 (-6.20%)
since 05/14/21
3-Month
559-4 +10.28%
on 03/31/21
741-4 -16.79%
on 05/07/21
+4-4 (+0.73%)
since 03/16/21
52-Week
449-6 +37.19%
on 08/07/20
741-4 -16.79%
on 05/07/21
+130-0 (+26.69%)
since 06/16/20

More Hard Red Wheat Quotes

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Most Recent Stories

More News
Hard Red Cash Wheat Spread: Protein Powered

The protein market is a key component of the various wheat markets.  Spring wheat historically has higher protein levels, so when production is threatened the market cranks into high gear as millers search...

MWPAUS.CM : 7.1180 (+2.30%)
KEPAUS.CM : 5.9288 (+0.56%)
The Rain In Spain Is Not Falling On the U.S. Plains. The Corn & Ethanol Report 06/16/2021

We kickoff the day with MBA Mortgage Applications (11/JUN) and MBA 30-Year Mortgage Rate (11/JUN) at 6:00 A.M., Housing Starts & Permits, Import and Export Prices YoY and MoM (MAY) at 7:30 A.M., EIA Energy...

Grains - Cattle - Oil & Gas - Futures Charts for Wednesday

"Waiting for the other shoe to drop"

Soybeans Double Digits Lower on Sliding Veg Oil Prices

Soybean prices are 10 to 14 cents lower in early Wednesday trading. Malaysian palm oil was down another 4.6% on Wednesday. Soy oil is following, down 117 points (13 cents per bushel in product value)....

ZSN21 : 1454-2 (-0.78%)
ZSPAUS.CM : 14.2383 (-0.86%)
ZSQ21 : 1411-2 (-1.03%)
ZSX21 : 1358-2 (-1.11%)
ZSPX21US.CM : 13.0592 (-1.19%)
Wheat Futures Higher as Spring Wheat Still Looks Tough

Early Wednesday buying has futures 3 to 9 cents higher. At the close for the Tuesday session, wheat futures were mixed as winter wheat prices were down by double digits. Spring wheat futures on the MGE...

ZWN21 : 667-2 (+0.87%)
ZWPAES.CM : 6.4464 (+0.90%)
KEN21 : 616-2 (+0.57%)
KEPAWS.CM : 5.8639 (+0.59%)
MWN21 : 763-2 (+2.07%)
Corn Futures Cautiously Higher, Chinese Prices Lower

The midweek trading session begins with corn futures steady to 2 ¾ higher. On Tuesday, an afternoon buy back in nearby July left the board mixed. July corn futures rallied 20 3/4 cents off the low to...

XVU21 : 2,691s (-1.82%)
ZCN21 : 679-2 (+1.76%)
ZCPAUS.CM : 6.8471 (+1.62%)
ZCU21 : 593-6 (+0.34%)
ZCZ21 : 576-2 (+0.44%)
ZCPZ21US.CM : 5.5224 (+0.38%)
Shootin the Bull

Middle of the month and middle of the year, packers finally paid a higher price.

Beans End Tuesday Lower

Soybean futures closed with double digit new crop losses on Tuesday. July beans were 6 1/2 cents lower at the close, widening the inverse to Nov to 92 1/4 cents. Soymeal prices closed $1.50 to $3.70/ton...

KOQ21 : 3,457 (-3.44%)
ZSN21 : 1454-2 (-0.78%)
ZSPAUS.CM : 14.2383 (-0.86%)
ZSQ21 : 1411-2 (-1.03%)
ZSX21 : 1358-2 (-1.11%)
ZSPX21US.CM : 13.0592 (-1.19%)
Corn Recovers into Close

An afternoon buy back in nearby July left the board mixed on Tuesday. July corn futures rallied 20 3/4 cents off the low to close in the black. New crop futures ended the +10 cents off the lows as well,...

XVU21 : 2,691s (-1.82%)
ZCN21 : 679-2 (+1.76%)
ZCPAUS.CM : 6.8471 (+1.62%)
ZCU21 : 593-6 (+0.34%)
ZCZ21 : 576-2 (+0.44%)
ZCPZ21US.CM : 5.5224 (+0.38%)
Wheat Futures Weaken by Double Digits

At the close for the Tuesday session, wheat futures were mixed. Winter wheat prices were down by double digits, led by 2.1% to 2.4% drops in KC HRW. CBT SRW futures ended the session 1.8% to 2% weaker....

ZWN21 : 667-2 (+0.87%)
ZWPAES.CM : 6.4464 (+0.90%)
KEN21 : 616-2 (+0.57%)
KEPAWS.CM : 5.8639 (+0.59%)
MWN21 : 763-2 (+2.07%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 652-5
2nd Resistance Point 640-3
1st Resistance Point 626-5
Last Price 616-2
1st Support Level 600-5
2nd Support Level 588-3
3rd Support Level 574-5

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52-Week High 741-4
Fibonacci 61.8% 630-0
Last Price 616-2
Fibonacci 50% 595-5
Fibonacci 38.2% 561-2
52-Week Low 449-6

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