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Hard Red Winter Wheat Dec '25 (KEZ25)

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Hard Red Winter Wheat Futures Market News and Commentary

Wheat Closes Mixed on Wednesday, with Spring Wheat Heading Higher

The wheat complex posted mostly lower trade on Wednesday with the spring wheat contracts holding higher. Chicago SRW contracts were lower on the midweek session with losses of 1 1/2 to 3 1/2 cents. KC HRW futures were down 3/4 to 3 3/4 cents lower on Wednesday. MPLS spring wheat was steady to 4 cents higher at the close.

A Reuters survey of analysts shows expectations of 200,000 to 500,000 MT for 2026/27 MT wheat in the week of 7/23 ahead of the Thursday Export Sales report. 

Black Sea traffic remains limited, as strikes between Ukraine and Russia continue on port and some internal logistics infrastructure.

Sep 26 CBOT Wheat  closed at $6.60 3/4, down 1 3/4 cents,

Dec 26 CBOT Wheat  closed at $6.77 3/4, down 2 cents,

Sep 26 KCBT Wheat  closed at $7.25 1/2, down 3/4 cent,

Dec 26 KCBT Wheat  closed at $7.40 3/4, down 1 1/4 cents,

Sep 26 MIAX Wheat  closed at $7.05, up 2 1/2 cents,

Dec 26 MIAX Wheat  closed at $7.28 1/4, up 3 cents,

... 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
11/28/25
Expiration Date
12/12/25 (expired)

Seasonal Chart

Hard Red Winter Wheat Dec '25
Average Price Chart for 5 Prior Dec 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
498-6 unch
on 12/12/25
534-0 -6.60%
on 11/14/25
-26-6 (-5.09%)
since 11/12/25
3-Month
477-2 +4.50%
on 10/14/25
540-0 -7.64%
on 11/05/25
-16-0 (-3.11%)
since 09/12/25
52-Week
477-2 +4.50%
on 10/14/25
682-6 -26.95%
on 02/19/25
-107-2 (-17.70%)
since 12/12/24

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ZSX26 : 1195-2 (+0.21%)
WEAT : 24.50 (-0.49%)
TAGS : 24.96 (-1.42%)
Wheat Closes Mixed on Wednesday, with Spring Wheat Heading Higher

The wheat complex posted mostly lower trade on Wednesday with the spring wheat contracts holding higher. Chicago SRW contracts were lower on the midweek session with losses of 1 1/2 to 3 1/2 cents. KC...

KEZ26 : 766-0 (+3.41%)
KEU26 : 751-2 (+3.55%)
MWU26 : 7.2300 (+2.55%)
ZWU26 : 682-6 (+3.33%)
ZWZ26 : 699-4 (+3.21%)
Corn Pushes Lower on Wednesday

Corn futures gave back the bounce from Tuesday, with contracts closing the Wednesday session down 2 to 9 ½ cents, led by the nearbys. The CmdtyView national average Cash Corn price was down 9 1/2 cents...

ZCZ26 : 474-2 (+0.53%)
ZCZ26 : 474-2 (+0.53%)
ZCU26 : 451-4 (+0.56%)
ZCPZ26US.CM : 4.3658 (-1.93%)
ZCPAUS.CM : 4.1876 (-2.20%)
Soybeans Collapse on Wednesday, as Forecasts Remain Wet

Soybeans posted losses of 13 ½ to 34 cents on Wednesday, with front months leading the charge. The cmdtyView national average Cash Bean price was 31 3/4 cents lower at $11.46 ¼. Soymeal futures were...

ZSPAUS.CM : 11.4636 (-2.69%)
ZLZ26 : 67.84 (+0.33%)
ZMZ26 : 323.5 (unch)
ZSPX26US.CM : 11.3686 (-2.26%)
ZSX26 : 1195-2 (+0.21%)
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Wheat Posting Mixed Wednesday Trade

The wheat complex is showing mixed trade on Wednesday, with contracts firmer in the hard red months. Chicago SRW contracts are slipping lower on the midweek session with losses of ¾ to 2 cents. KC HRW...

KEZ26 : 766-0 (+3.41%)
KEU26 : 751-2 (+3.55%)
MWU26 : 7.2300 (+2.55%)
ZWU26 : 682-6 (+3.33%)
ZWZ26 : 699-4 (+3.21%)
Soybeans Extending Collapse to Wednesday, as Forecasts Stays Wet

Soybeans are trading with sharp midday losses of 28 to 31 cents across most contracts as a wetter forecast is pressuring things lower. The cmdtyView national average Cash Bean price is 31 cents lower...

ZSPAUS.CM : 11.4636 (-2.69%)
ZLZ26 : 67.84 (+0.33%)
ZMZ26 : 323.5 (unch)
ZSPX26US.CM : 11.3686 (-2.26%)
ZSX26 : 1195-2 (+0.21%)
ZSQ26 : 1179-2 (+0.11%)
ZSU26 : 1178-4 (+0.21%)
Corn Facing Wednesday Weakness

Corn futures are down 8 to 9 cents so far across most contracts on Wednesday, giving back the bounce from Tuesday. The CmdtyView national average Cash Corn price is down 8 1/2 cents at $4.28 1/4. EIA’s...

ZCZ26 : 474-2 (+0.53%)
ZCZ26 : 474-2 (+0.53%)
ZCU26 : 451-4 (+0.56%)
ZCPZ26US.CM : 4.3658 (-1.93%)
ZCPAUS.CM : 4.1876 (-2.20%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 504-1
2nd Resistance Point 503-1
1st Resistance Point 500-7
Last Price 498-6s
1st Support Level 497-5
2nd Support Level 496-5
3rd Support Level 494-3

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52-Week High 682-6
Fibonacci 61.8% 604-2
Fibonacci 50% 580-0
Fibonacci 38.2% 555-6
Last Price 498-6s
52-Week Low 477-2

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