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Spring Wheat Dec '21 (MWZ21)

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Spring Wheat Futures Market News and Commentary

Wheat Traded Double Digits Weaker

Friday’s wheat trading session left the board double digits weaker for the weekend. CBT SRW futures were 7 1/4 to 12 cents lower through the Sep ’22 contract, with March having given back 49 3/4 cents during the week. KC futures closed 11 to 18 cents lower on Friday, with March a net 56 cents lower through the week. MPLS futures went into the weekend with 16 3/4 to 21 3/4 cent losses, which for March added to the 31 1/4 cent net loss for the week. March futures traded with a 64 cent range during the week. 

The Commitment of Traders report showed managed money funds were 6,200 contracts net long in Chicago wheat on 11/30. That was an 11,763 contract reduction, fueled by long liquidation, compared to the week prior. Commercial SRW traders were 15,625 contracts less net short on a 56,569 contract lighter OI. In KC wheat, CFTC reported spec traders were 62,368 contracts net long. That was only down 3,241 contracts wk/wk. Managed money was only 931 contracts less net long in MGE wh... Read more

Contract Specifications

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Contract
Hard Red Spring 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. - 1:30p.m. (Sun-Fri) (Settles 1:30p.m.) CST
Exchange
MGEX
Point Value
$50
Margin/Maintenance
$3,315/2,550
First Notice Date
11/30/21
Expiration Date
12/14/21 (9 days)

Seasonal Chart

Spring Wheat Dec '21
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Nov 30, 2021

View Chart Details
Commercials - Long / Short
28,783 (+2,479)
57,257 (-646)
Non-Commercials - Long / Short
27,866 (-1,613)
3,383 (+690)
Producers - Long / Short
26,648 (+2,762)
56,559 (-248)
Swap Dealers - Long / Short
2,135 (-190)
698 (-305)
Managed Money - Long / Short
15,189 (-659)
1,026 (+273)
Other Reportables - Long / Short
12,677 (-954)
2,357 (+417)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
999-0 +3.73%
on 11/16/21
1066-0 -2.79%
on 11/11/21
-7-6 (-0.74%)
since 11/03/21
3-Month
861-4 +20.28%
on 09/10/21
1086-4 -4.62%
on 11/02/21
+123-6 (+13.56%)
since 09/03/21
52-Week
578-6 +79.05%
on 12/08/20
1086-4 -4.62%
on 11/02/21
+450-0 (+76.76%)
since 12/03/20

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Wheat Traded Double Digits Weaker

Friday’s wheat trading session left the board double digits weaker for the weekend. CBT SRW futures were 7 1/4 to 12 cents lower through the Sep ’22 contract, with March having given back 49 3/4 cents...

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KEPAWS.CM : 8.0170 (-2.30%)
MWZ21 : 1036-2s (-2.33%)
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Corn prices extended their recovery on Friday, with 6 1/2 to 9 cent gains. For the December contract that left prices at a net wash after a 26 3/4 cent range week. March futures still ended the week 7...

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ZCPAUS.CM : 5.7046 (+1.31%)
ZCH22 : 584-0s (+1.26%)
ZCZ21 : 586-0s (+1.56%)
ZCPZ21US.CM : 5.7046 (+1.31%)
20 Cent Bounce for Friday Beans

Soybean futures closed 19 3/4 to 23 cents higher on Friday. For the Jan contract, that left soybeans a net 6 1/2 cents higher than Monday’s open and 14 ½ higher week/week. Jan beans traded with a 55...

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ZSF22 : 1267-2s (+1.85%)
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TFM Cash+ Take the Stress Out of Your Marketing Strategy. No hedge account. No margin calls. Just comprehensive, common-sense guidance at a great value. Learn more: https://www.totalfarmmarketing.com/tfm-cash-plus/...

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Beans Firm to End the Week

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ZCZ21 : 586-0s (+1.56%)
ZCPAUS.CM : 5.7046 (+1.31%)
ZCH22 : 584-0s (+1.26%)
ZCZ21 : 586-0s (+1.56%)
ZCPZ21US.CM : 5.7046 (+1.31%)
Soy Futures Down Double Digits

Nearby soybean futures are up another double digits through midday. Beans are 18 to 20 1/4 cents in the black so far, which for Jan has them at a net gain for the week. Soymeal is leading the way so far,...

RSH22 : 994.60s (+0.96%)
ZSF22 : 1267-2s (+1.85%)
ZSPAUS.CM : 12.3400 (+1.89%)
ZSH22 : 1271-2s (+1.70%)
ZSX21 : 1234-0s (+1.79%)
ZSPX21US.CM : 12.3270 (+1.90%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 1075-0
2nd Resistance Point 1067-2
1st Resistance Point 1051-6
Last Price 1036-2s
1st Support Level 1028-4
2nd Support Level 1020-6
3rd Support Level 1005-2

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52-Week High 1086-4
Last Price 1036-2s
Fibonacci 61.8% 892-4
Fibonacci 50% 832-5
Fibonacci 38.2% 772-6
52-Week Low 578-6

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