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Spring Wheat May '25 (MWK25)

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Spring Wheat Futures Market News and Commentary

Wheat Showing Steady Trade Early on Thursday

Wheat is trading with most contracts within a penny of unchanged. The wheat complex found some strength on Wednesday. Chicago SRW futures closed out the session with strength as front months were up 5 to 9 cents. Open interest suggested short covering, dropping 24,052 contracts. KC HRW futures were up 5 to 8 cents on Wednesday. MPLS spring wheat was 2 to 4 ¼ cents higher on the session. 

Export Sales data from USDA will be out on Thursday morning, with traders looking for between 200,000 and 500,000 MT in old crop wheat bookings in the week of February 5. Sales for new crop are estimated to range 0-75,000 MT.

French soft wheat exports outside the EU are estimated at 7.2 MMT for 2025/26 according to FrancAgriMer data released this morning, down 0.3 MMT from the January number. They estimate the French wheat ending stocks at 3.05 MMT, up 0.25 MMT last month. 

Expana estimates the EU wheat crop at 128.3 MMT for 2026/27, a 0.5 MMT reduction from last month. Exports for... Read more

Contract Specifications

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Contract
Hard Red Spring Wheat
Contract Size
5,000 bushels
Tick Size
0.0025 dollars per bushel ($12.50 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Sun-Fri) CST
Exchange
MIAX
Point Value
$5,000
Margin/Maintenance
$1,650/1,500
First Notice Date
04/30/25
Expiration Date
05/14/25 (expired)

Seasonal Chart

Spring Wheat May '25
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Feb 3, 2026

View Chart Details
Commercials - Long / Short
40,105 (+188)
25,523 (+1,933)
Non-Commercials - Long / Short
14,610 (+258)
29,589 (-1,385)
Producers - Long / Short
36,661 (+545)
23,918 (+2,280)
Swap Dealers - Long / Short
2,797 (-277)
958 (-267)
Managed Money - Long / Short
7,955 (-129)
28,803 (-1,278)
Other Reportables - Long / Short
6,655 (+387)
786 (-107)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
578-6 +6.52%
on 04/28/25
633-4 -2.68%
on 04/30/25
+11-6 (+1.94%)
since 04/14/25
3-Month
573-0 +7.59%
on 03/28/25
659-4 -6.52%
on 02/19/25
-32-6 (-5.04%)
since 02/14/25
52-Week
573-0 +7.59%
on 03/28/25
802-4 -23.18%
on 05/28/24
-152-2 (-19.80%)
since 05/14/24

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 616-4
2nd Resistance Point 616-4
1st Resistance Point 616-4
Last Price 616-4s
1st Support Level 616-4
2nd Support Level 616-4
3rd Support Level 616-4

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52-Week High 802-4
Fibonacci 61.8% 714-7
Fibonacci 50% 687-6
Fibonacci 38.2% 660-5
Last Price 616-4s
52-Week Low 573-0

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