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Hard Red Winter Wheat Jul '25 (KEN25)

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Hard Red Winter Wheat Futures Market News and Commentary

Wheat Fades Off Thursday Strength into the Close

The wheat complex posted gains across the three exchanges on Thursday, following increased Black Sea tensions. Chicago SRW contracts were 2 ¾ to 7 ½ cents higher at the close. KC HRW futures were 5 1/4 to 8 1/2 cents in the green on the day. MPLS spring wheat was up 6 ½ to 7 1/2 cents.

Overnight, there was a Ukrainian drone strike on a Russian grains export terminal in Taman on the Kerch Strait, causing significant damage.

Export Sales data showed 285,165 MT of 2026/27 MT wheat sold in the week of 7/23. That was a marketing year low and was less than half of the same week last year. Indonesia was the buyer of 70,000 MT, with 60,000 MT to the Philippines.

European Commission data showed expected EU production at 124.4 MMT, a drop of 1.9 MMT from their previous estimate. Exports are seen at 29 MMT, down 1 MMT, with ending stocks estimated at 12.9 MMT, a 0.9 MMT drop from last month. 

Sep 26 CBOT Wheat  closed at $6.63 1/2, up 2 3/4 cents,

Dec 26 CBOT Whea... Read more

Contract Specifications

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Contract
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
CBOT
Point Value
$50
Margin/Maintenance
$1,870/1,700
First Notice Date
06/30/25
Expiration Date
07/14/25 (expired)

Seasonal Chart

Hard Red Winter Wheat Jul '25
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Jul 21, 2026

View Chart Details
Commercials - Long / Short
114,063 (+1,211)
126,785 (+13,906)
Non-Commercials - Long / Short
73,433 (+4,584)
59,133 (-7,947)
Producers - Long / Short
28,724 (-312)
119,103 (+15,690)
Swap Dealers - Long / Short
82,579 (+1,725)
4,922 (-1,582)
Managed Money - Long / Short
65,425 (+3,745)
38,715 (-9,176)
Other Reportables - Long / Short
8,008 (+839)
20,418 (+1,229)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
500-6 +1.00%
on 07/14/25
575-2 -12.08%
on 06/20/25
-35-0 (-6.47%)
since 06/13/25
3-Month
500-2 +1.10%
on 05/13/25
582-4 -13.18%
on 04/17/25
-64-4 (-11.31%)
since 04/14/25
52-Week
500-2 +1.10%
on 05/13/25
653-6 -22.64%
on 10/03/24
-106-0 (-17.33%)
since 07/12/24

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Wheat Fades Off Thursday Strength into the Close

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Pure Hedge - Livestock and Grain

Last Trading Day of The Month Tomorrow

DEC ’26 KANSAS CITY-CHICAGO WHEAT SPREAD (KEZ26-ZWZ26) - WALSH PURE SPREADER

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Wheat Rally Holding at Midday Amid More Black Sea Strikes

The wheat complex is trading with gains across the three exchanges so far on Thursday. Chicago SRW contracts are trading with gains of 8 to 9 cents on Thursday. KC HRW futures are 12 to 13 cents higher...

KEZ26 : 746-6s (+0.81%)
KEU26 : 730-6s (+0.72%)
MWU26 : 7.1150s (+0.92%)
ZWU26 : 663-4s (+0.42%)
ZWZ26 : 681-4s (+0.55%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 514-1
2nd Resistance Point 510-3
1st Resistance Point 508-1
Last Price 505-6s
1st Support Level 502-1
2nd Support Level 498-3
3rd Support Level 496-1

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52-Week High 653-6
Fibonacci 61.8% 595-1
Fibonacci 50% 577-0
Fibonacci 38.2% 558-7
Last Price 505-6s
52-Week Low 500-2

See More

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