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Wheat Mar '24 (ZWH24)

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Wheat Futures Market News and Commentary

Wheat Rallies on Weather Risks to Start Week

The wheat complex started off the week with a rally. Chicago contracts closed the Monday session with 16 ½ to 37 ½ cent gains. Kansas City futures were in rally mode, as gains of 18 ¾ to 35 ¼ cents were across the board. MPLS spring wheat futures were up 21 ¾ to 28 ¼ cents across the MGE board. Weather as likely playing a factor, as the next 7 days remain dry for the Southern Plains. Russian and EU FOB prices have also recently climbed to a more competitive price with the US on the Black Sea crop concerns.

The USDA Crop Progress report from Monday afternoon listed 69% of the US winter wheat crop as headed, 12% ahead of the average pace as of Sunday. Winter wheat conditions were listed at 49% gd/ex, down 1% from last week and taking the Brugler500 index 1 point lower to 333. Spring wheat planting was at 79%, 14% above the 5-year average. Emergence was at 43%, 10% above the average pace. 

The weekly Export Inspections report from the FGIS showed just 205,612 MT of wheat ex... Read more

Contract Specifications

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Contract
Chicago Soft 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
02/29/24
Expiration Date
03/14/24 (expired)

Seasonal Chart

Wheat Mar '24
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
141,475 (+6,282)
127,316 (+19,128)
Non-Commercials - Long / Short
132,484 (+9,798)
137,899 (-2,572)
Producers - Long / Short
43,955 (+650)
98,425 (+19,271)
Swap Dealers - Long / Short
75,060 (+4,810)
6,431 (-965)
Managed Money - Long / Short
85,692 (+6,391)
115,653 (-8,195)
Other Reportables - Long / Short
46,792 (+3,407)
22,246 (+5,623)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
519-4 unch
on 03/14/24
600-0 -13.42%
on 02/22/24
-66-0 (-11.27%)
since 02/14/24
3-Month
519-4 unch
on 03/14/24
639-6 -18.80%
on 12/26/23
-96-2 (-15.63%)
since 12/14/23
52-Week
519-4 unch
on 03/14/24
809-4 -35.82%
on 07/25/23
-224-4 (-30.17%)
since 03/14/23

More Wheat Quotes

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Most Recent Stories

More News
Wheat Is Holding 23.6%, Hogs Hit 61.8% Target

You only have to look at the chart below to see how well the market adheres to the Fibonacci retracements.

ZWN24 : 688-6s (+5.76%)
HEM24 : 96.925s (+0.44%)
Corn Rallies on Monday, Planting Pace Catches Up

Corn futures were rallying out of the 8:30 am CDT gates this morning, with strength across the wheat helping out. Contracts closed with gains of 2 to 8 ½ cents across the board. The Monday afternoon...

ZCN24 : 460-4s (+1.77%)
ZCPAUS.CM : 4.3673 (+1.93%)
ZCU24 : 471-0s (+1.84%)
ZCZ24 : 484-2s (+1.63%)
ZCPZ24US.CM : 4.5439 (+1.75%)
Soybeans Post Double Digit Gains, Planting Pace Moving Along

Soybeans ended the Monday session with gains of 6 ½ to 20 cents across the board, led by the front months. Soymeal futures saw $1.30 to $5.30/ton gains across most contracts. Soy Oil helped the product...

ZMN24 : 374.1s (+1.44%)
ZLN24 : 46.32s (+2.32%)
ZSN24 : 1248-0s (+1.63%)
ZSPAUS.CM : 11.8645 (+1.73%)
ZSQ24 : 1243-0s (+1.45%)
ZSX24 : 1216-6s (+1.12%)
ZSPX24US.CM : 11.5510 (+1.19%)
Wheat Rallies on Weather Risks to Start Week

The wheat complex started off the week with a rally. Chicago contracts closed the Monday session with 16 ½ to 37 ½ cent gains. Kansas City futures were in rally mode, as gains of 18 ¾ to 35 ¼ cents...

ZWN24 : 688-6s (+5.76%)
ZWU24 : 708-6s (+5.47%)
KEN24 : 696-6s (+5.29%)
KEU24 : 710-6s (+5.22%)
MWN24 : 739-2s (+3.90%)
Hogs Make New Low

Hogs make new low but end day higher

Shootin' the Bull about further rationing

Rationing was stepped up last week as packers cut the slaughter pace again, sending boxes to over $314.00 as of mid-day today.  Rationing will continue until more cattle are made available to produce...

Crop Progress

Crop Progress - 2024-05-20

ZSN24 : 1248-0s (+1.63%)
ZSPAUS.CM : 11.8645 (+1.73%)
ZSBAUS.CM : -0.6154 (+0.37%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 4,138s (+0.32%)
XTN24 : 4,661s (+0.34%)
ZCN24 : 460-4s (+1.77%)
ZCPAUS.CM : 4.3673 (+1.93%)
ZCBAUS.CM : -0.2376 (+1.21%)
XVN24 : 2,455s (-0.37%)
XEU24 : 62.95 (-0.11%)
Why May Is Not The Time To Assume You Know What Will Happen Next In The Grain Markets

Taking a look at why speaking in definitive terms about what the market will do in May can prove costly...

Soybeans Rallying Double Digits With Product Value Strength

Soybeans are starting off the week with some strength, as contracts are up anywhere from 15 to 20 cents across the front months. Soymeal futures are up $4.40. Soy Oil is posting triple digit gains, with...

ZMN24 : 374.1s (+1.44%)
ZLN24 : 46.32s (+2.32%)
ZSN24 : 1248-0s (+1.63%)
ZSPAUS.CM : 11.8645 (+1.73%)
ZSQ24 : 1243-0s (+1.45%)
ZSX24 : 1216-6s (+1.12%)
ZSPX24US.CM : 11.5510 (+1.19%)
Corn Starting Off Monday with Strength at Midday

Corn futures are heading higher to start the new week, with contracts rallying 8 to 8 ½ cents across the front months at midday. USDA’s Export Inspections report pegged 1.21 MMT of corn shipped during...

ZCN24 : 460-4s (+1.77%)
ZCPAUS.CM : 4.3673 (+1.93%)
ZCU24 : 471-0s (+1.84%)
ZCZ24 : 484-2s (+1.63%)
ZCPZ24US.CM : 4.5439 (+1.75%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 519-4
2nd Resistance Point 519-4
1st Resistance Point 519-4
Last Price 519-4s
1st Support Level 519-4
2nd Support Level 519-4
3rd Support Level 519-4

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52-Week High 809-4
Fibonacci 61.8% 698-6
Fibonacci 50% 664-4
Fibonacci 38.2% 630-2
Last Price 519-4s
52-Week Low 519-4

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