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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 Falls into the End of the Month

The wheat complex fell double digits across most contracts on Friday. Crude Oil was a pressure factor, down $1.14/bbl, money was flowing out ahead of the weekend, with the President looking over the proposed agreement between the US and Iran. Chicago SRW futures were down 10 to 13 cents in most contracts, with July down 35 ¾ cents this week. KC HRW futures were 12 to 15 1/2 cents in the red, as July fell 32 ¾ cents on the week. MPLS spring wheat is down 12 to 13 1/2 cents on the session, with July falling 25 ¾ cents since last Friday

USDA released Export Sales data this morning, showing a total of 807,348 MT in net cancellations for old crop, a MY low. Some of that was likely rolled to 2026/27, as Japan saw net reductions of 171,600 MT, with 108,500 MT cancelled for Panama and 103,300 MT cancelled for Mexico.  New crop business was tallied at 1.058 MMT, a MY high and 48.66% above the same week last year. Japan was the top buyer of 252,100 MT, with 166,900 MT purchased by the P... 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
$2,200/2,000
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 May 26, 2026

View Chart Details
Commercials - Long / Short
127,747 (+9,561)
126,869 (+3,742)
Non-Commercials - Long / Short
77,314 (-3,337)
79,048 (+3,813)
Producers - Long / Short
35,818 (+8,273)
116,454 (+2,444)
Swap Dealers - Long / Short
87,078 (-853)
5,564 (-843)
Managed Money - Long / Short
70,797 (-4,063)
42,668 (-1,401)
Other Reportables - Long / Short
6,517 (+726)
36,380 (+5,214)
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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Wheat Falls into the End of the Month

The wheat complex fell double digits across most contracts on Friday. Crude Oil was a pressure factor, down $1.14/bbl, money was flowing out ahead of the weekend, with the President looking over the proposed...

KEU26 : 661-4s (-2.25%)
KEN26 : 649-6s (-2.33%)
MWN26 : 6.6375s (-1.99%)
ZWN26 : 610-4s (-2.16%)
ZWU26 : 623-4s (-2.12%)
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Corn Falling on Friday

Corn futures are trading with 7 to 9 cent losses at Friday’s midday. Crude Oil is the pressure factor, down $2.08/bbl, money is flowing out ahead of the weekend, with the President looking over the proposed...

ZCZ26 : 475-0s (-1.50%)
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ZCPZ26US.CM : 4.3673 (-1.78%)
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Wheat Facing Pressure on Friday

The wheat complex is down double digits across most contracts on Friday. Crude Oil is the pressure factor, down $2.08/bbl, money is flowing out ahead of the weekend, with the President looking over the...

KEU26 : 661-4s (-2.25%)
KEN26 : 649-6s (-2.33%)
MWN26 : 6.6375s (-1.99%)
ZWN26 : 610-4s (-2.16%)
ZWU26 : 623-4s (-2.12%)
Soybean Fading Lower on Friday

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ZSPAUS.CM : 11.2489 (-0.81%)
ZLN26 : 77.72s (+1.33%)
ZMN26 : 329.8s (-1.29%)
ZSPX26US.CM : 11.2248 (-0.45%)
ZSX26 : 1190-0s (-0.34%)
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CORN : 17.93 (-1.54%)
ZWN26 : 610-4s (-2.16%)
WEAT : 23.38 (-1.89%)
ZCN26 : 446-6s (-1.97%)
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Can Wheat Continue to Rally?

Wheat prices have been rallying in 2026, as the new crop year is underway. After trading below $5 per bushel in October 2025, the price of CBOT soft red winter wheat futures reached almost $6.90 in May...

ZWN26 : 610-4s (-2.16%)
WEAT : 23.38 (-1.89%)

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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