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Hard Red Wheat May '24 (KEK24)

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Hard Red Wheat Futures Market News and Commentary

Wheat Mixed on Friday Morning

The wheat complex is trading with mixed action, as soft red contracts are lower and hard red contracts are higher to begin your Friday morning. Chicago contracts were firm to 5 ¼ cents higher in the front months, with back 2025/2026 months down 2 to 6 cents. Kansas City futures posted stead to 11 ¼ cent higher trade, rallying later in the day. MPLS spring wheat was up 2 to 8 cents on the Thursday session.

All wheat export sales for the 23/24 MY were just 17,852 MT as there are just 2 weeks left in the MY. Sales for the 24/25 crop were on the low end of the estimates during the week of 5/16 at 224,860 MT. That was a 5-week low. The top buyer was Mexico of 129,300 MT, with 30,000 MT sold to Brazilian buyers.

International Grains Council data showed world wheat production down 3 MMT to 795 MMT. Consumption was also cut by 2 MMT, with the ending stock projection up 1 MMT from last month at 260 MMT, but still a 6 MMT reduction from last year.

Taiwan is tendering for 96,... 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
$2,200/2,000
First Notice Date
04/30/24
Expiration Date
05/14/24 (expired)

Seasonal Chart

Hard Red Wheat May '24
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
105,944 (-1,291)
90,099 (+7,166)
Non-Commercials - Long / Short
55,634 (+3,468)
66,433 (-3,389)
Producers - Long / Short
37,834 (+183)
80,599 (+7,054)
Swap Dealers - Long / Short
60,045 (-1,712)
1,435 (-126)
Managed Money - Long / Short
38,824 (+2,482)
55,730 (-4,424)
Other Reportables - Long / Short
16,810 (+986)
10,703 (+1,035)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
572-2 +26.52%
on 04/18/24
724-0 unch
on 05/14/24
+134-2 (+22.76%)
since 04/12/24
3-Month
551-4 +31.28%
on 03/06/24
724-0 unch
on 05/14/24
+140-0 (+23.97%)
since 02/14/24
52-Week
551-4 +31.28%
on 03/06/24
918-0 -21.13%
on 07/25/23
-101-4 (-12.30%)
since 05/12/23

More Hard Red Wheat Quotes

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Most Recent Stories

More News
No Bull | The Five Spot

#5 | Beat the clock Seventy percent of the U.S. corn crop was planted (for the first time, anyway) as of May 19, up 21% from the week prior and only 1% behind the five-year average. Last week's progress...

Wheat Mixed on Friday Morning

The wheat complex is trading with mixed action, as soft red contracts are lower and hard red contracts are higher to begin your Friday morning. Chicago contracts were firm to 5 ¼ cents higher in the front...

ZWN24 : 696-2 (-0.25%)
ZWU24 : 716-2 (-0.24%)
KEN24 : 717-6 (+0.98%)
KEU24 : 731-6 (+1.00%)
MWN24 : 749-2 (+0.71%)
Corn Marginally Higher to Start Friday

Corn is posting fractionally higher trade so far on Friday morning. Futures held on tight for gains on Thursday. Contracts were up 1 to 3 cents across the board as the final bell rang. Friday will be the...

ZCN24 : 465-0 (+0.22%)
ZCPAUS.CM : 4.4226 (+0.23%)
ZCU24 : 474-2 (+0.21%)
ZCZ24 : 487-6 (+0.26%)
ZCPZ24US.CM : 4.5779 (+0.27%)
Soybeans Showing Mixed Trade

Soybeans are mixed, with front months up ½ to 1 ¼ and new crop Nov for a penny as we get set to kick off a 3-day weekend. They slipped lower into the Thursday close, as contracts were down 2 to 7 cents...

ZMN24 : 387.1 (+2.76%)
ZLN24 : 44.95 (-0.53%)
ZSN24 : 1250-0 (+0.87%)
ZSPAUS.CM : 11.8989 (+0.91%)
ZSQ24 : 1247-0 (+0.75%)
ZSX24 : 1221-2 (+0.43%)
ZSPX24US.CM : 11.5975 (+0.46%)
Corn Hold Gains, Following Decent Export Sales Data

Corn futures held on tight for gains to close out the Thursday session. Contracts were up 1 to 3 cents across the board as the final bell rang. Friday will be the last trade session before a 3-day weekend,...

ZCN24 : 465-0 (+0.22%)
ZCPAUS.CM : 4.4226 (+0.23%)
ZCU24 : 474-2 (+0.21%)
ZCZ24 : 487-6 (+0.26%)
ZCPZ24US.CM : 4.5779 (+0.27%)
Soybeans Fall as Products Pulled Lower

Soybeans slipped lower into the Thursday close, as contracts were down 2 to 7 cents on the day. Soymeal futures was front months with a dime to $1.50 lower trade and other contracts steady to $1.10. Soy...

ZMN24 : 387.1 (+2.76%)
ZLN24 : 44.95 (-0.53%)
ZSN24 : 1250-0 (+0.87%)
ZSPAUS.CM : 11.8989 (+0.91%)
ZSQ24 : 1247-0 (+0.75%)
ZSX24 : 1221-2 (+0.43%)
ZSPX24US.CM : 11.5975 (+0.46%)
Wheat Closes Higher on Thursday

The wheat complex started off weaker on Thursday, but rounded out the day with strength. Chicago contracts were firm to 5 ¼ cents higher in the front months, with back 2025/2026 months down 2 to 6 cents....

ZWN24 : 696-2 (-0.25%)
ZWU24 : 716-2 (-0.24%)
KEN24 : 717-6 (+0.98%)
KEU24 : 731-6 (+1.00%)
MWN24 : 749-2 (+0.71%)
A Quiet Grain Trade Ahead of a Long Weekend.

Grains were mixed in today’s trade with corn and wheat higher while soybeans were lower. Where does that put us ahead of the long weekend

Shootin' the Bull about opposites

There won't be much to say were prices to move lower in fats, simply due to there not having been any premium to appreciate from.  Not so in the feeder market, where not only premium abounds, but options...

Wheat Trying to Hold Gains on Thursday

The wheat complex got off to a higher early start, as bulls are now fighting to stay above water. Chicago contracts are showing steady to 1 cent higher trade so far on the day. Kansas City futures are...

ZWN24 : 696-2 (-0.25%)
ZWU24 : 716-2 (-0.24%)
KEN24 : 717-6 (+0.98%)
KEU24 : 731-6 (+1.00%)
MWN24 : 749-2 (+0.71%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 724-0
2nd Resistance Point 724-0
1st Resistance Point 724-0
Last Price 724-0s
1st Support Level 724-0
2nd Support Level 724-0
3rd Support Level 724-0

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52-Week High 918-0
Fibonacci 61.8% 778-0
Fibonacci 50% 734-6
Last Price 724-0s
Fibonacci 38.2% 691-4
52-Week Low 551-4

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