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Wheat May '26 (ZWK26)

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Wheat Futures Market News and Commentary

Wheat Rallies on Wednesday with Black Sea Strikes

The wheat complex is trading with sharp midday gains across the three exchanges. Chicago SRW contracts were 13 ¾ to 22 ½ cents higher across the board on the day. KC HRW futures posted 14 ½ to 21 ¾ cent gains at the close. MPLS spring wheat was 13 to 15 1/4 cents higher.

Overnight, there were Ukrainian drone strikes on Russia’s Novorossiysk port, halting operations at the country’s largest port. Russia responded this morning by striking a vessel in Ukraine’s Odesa port. 

NASS Crop Production data from this morning showed 1.531 bbu of wheat output for 2026, down 5 mbu from July. Winter wheat was steady with last month at 990 mbu, with HRW at 463, mbu, down 8 mbu, with SRW unchanged at 287 mbu. Spring wheat was tallied at 474 mbu, down just 1 mbu from last month, with durum at 66 mbu and dropping 5 mbu. 

WASDE data tallied ending stocks for 2026/27 at 717 mbu, down 5 mbu due to the production reduction. World ending stocks were raised by 0.41 MMT to 273.25 MMT. That... 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
$1,870/1,700
First Notice Date
04/30/26
Expiration Date
05/14/26 (expired)

Seasonal Chart

Wheat May '26
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Aug 4, 2026

View Chart Details
Commercials - Long / Short
166,948 (-7,018)
150,561 (-18,946)
Non-Commercials - Long / Short
117,112 (-1,934)
131,871 (+10,833)
Producers - Long / Short
67,896 (+2,199)
120,834 (-7,424)
Swap Dealers - Long / Short
84,051 (+1,536)
14,726 (-769)
Managed Money - Long / Short
80,037 (-5,131)
104,907 (+11,576)
Other Reportables - Long / Short
37,075 (+3,197)
26,964 (-743)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
582-6 +11.03%
on 04/17/26
670-6 -3.54%
on 05/13/26
+55-0 (+9.29%)
since 04/14/26
3-Month
538-6 +20.09%
on 02/17/26
670-6 -3.54%
on 05/13/26
+98-4 (+17.96%)
since 02/13/26
52-Week
513-2 +26.06%
on 01/02/26
670-6 -3.54%
on 05/13/26
+56-0 (+9.48%)
since 05/14/25

More Wheat Quotes

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Most Recent Stories

More News
Soybeans Close Wednesday with Strength Despite Increased US Output

Soybeans posted 6 to 17 ¼ cent gains on Wednesday despite a neutral to slightly bearish USDA report. The cmdtyView national average Cash Bean price was up 14 3/4 cents at $11.41. Soymeal futures were...

ZSPAUS.CM : 11.4091 (+1.30%)
ZLZ26 : 68.73 (-0.04%)
ZMZ26 : 316.0 (+0.29%)
ZSPX26US.CM : 11.2471 (+1.32%)
ZSX26 : 1184-2 (+0.08%)
ZSQ26 : 1165-4 (+0.06%)
ZSU26 : 1166-6 (+0.13%)
Wheat Rallies on Wednesday with Black Sea Strikes

The wheat complex is trading with sharp midday gains across the three exchanges. Chicago SRW contracts were 13 ¾ to 22 ½ cents higher across the board on the day. KC HRW futures posted 14 ½ to 21 ¾...

KEZ26 : 740-6 (+0.41%)
KEU26 : 723-2 (+0.35%)
MWU26 : 6.7550 (+0.37%)
ZWU26 : 655-2 (+0.38%)
ZWZ26 : 672-0 (+0.34%)
Corn Rallies on Smaller Yield and Cut to Stocks

Corn futures closed the Wednesday session with contracts down 18 to 20 ½ cents in through next July, with deferreds up 4 to 11 ½ cents. Spillover gains from wheat and increasing Black Sea strikes was...

ZCZ26 : 478-6 (-0.42%)
ZCZ26 : 478-6 (-0.42%)
ZCU26 : 455-0 (-0.44%)
ZCPZ26US.CM : 4.4637 (+4.81%)
ZCPAUS.CM : 4.2718 (+5.01%)
Grain Spreads: Wheat Idea

Funds Still Short Chicago Wheat?

Soybeans: WASDE Report Volatility & Risk Strategy

Analyze post-WASDE soybean market volatility on the 1-minute chart and see why grain marketers go flat before major USDA news events.

ZSX26 : 1184-2 (+0.08%)
Wheat Leading the Grain Rally on Black Sea Strikes

The wheat complex is trading with sharp midday gains across the three exchanges. Chicago SRW contracts are 16 to 18 ¼ cents so far on the day. KC HRW futures are 22 to 23 cents across the front months....

KEZ26 : 740-6 (+0.41%)
KEU26 : 723-2 (+0.35%)
MWU26 : 6.7550 (+0.37%)
ZWU26 : 655-2 (+0.38%)
ZWZ26 : 672-0 (+0.34%)
Corn Rallying as Yield Comes in Lower than Expected

Corn futures are posting midday gains of 12 to 13 cents across most contracts following USDA’s Crop Production and WASDE reports. Spillover support from wheat and increasing Black Sea strikes is supportive....

ZCZ26 : 478-6 (-0.42%)
ZCZ26 : 478-6 (-0.42%)
ZCU26 : 455-0 (-0.44%)
ZCPZ26US.CM : 4.4637 (+4.81%)
ZCPAUS.CM : 4.2718 (+5.01%)
Soybeans Holding onto Wednesday Gains as USDA Hikes Production

Soybeans are trading with gains of 7 to 8 cents on Wednesday after USDA’s first official crop estimate via Crop Production data. The cmdtyView national average Cash Bean price is up 7 1/4 cents at $11.34...

ZSPAUS.CM : 11.4091 (+1.30%)
ZLZ26 : 68.73 (-0.04%)
ZMZ26 : 316.0 (+0.29%)
ZSPX26US.CM : 11.2471 (+1.32%)
ZSX26 : 1184-2 (+0.08%)
ZSQ26 : 1165-4 (+0.06%)
ZSU26 : 1166-6 (+0.13%)
Crop Production

Crop Production - 2026-08-12

MWZ26 : 7.0100 (+0.43%)
ZSX26 : 1184-2 (+0.08%)
XBX26 : 250.50 (+1.01%)
XEU26 : 70.21 (-0.17%)
SWV26 : 506.00 (-0.18%)
ZSBAUS.CM : -0.2433 (+3.61%)
ZOZ26 : 346-0 (-0.07%)
ZRU26 : 13.910 (-0.04%)
MLZ26 : 234.00 (+0.43%)
Y2U26 : 2,662s (unch)
ZCZ26 : 478-6 (-0.42%)
ZCDAUS-BIW.CM : 15,671,136 (unch)
WASDE

WASDE - 2026-08-12

KGV26 : 0.8321s (+0.14%)
ZSX26 : 1184-2 (+0.08%)
KIF27 : 337.00 (unch)
XBX26 : 250.50 (+1.01%)
KOV26 : 4,718 (+0.45%)
SWV26 : 506.00 (-0.18%)
ZSBAUS.CM : -0.2433 (+3.61%)
ZOZ26 : 346-0 (-0.07%)
BJU26 : 1.6770s (+0.54%)
ZMZ26 : 316.0 (+0.29%)
MLZ26 : 234.00 (+0.43%)
ZCZ26 : 478-6 (-0.42%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 647-0
2nd Resistance Point 647-0
1st Resistance Point 647-0
Last Price 647-0s
1st Support Level 647-0
2nd Support Level 647-0
3rd Support Level 647-0

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52-Week High 670-6
Last Price 647-0s
Fibonacci 61.8% 610-5
Fibonacci 50% 592-0
Fibonacci 38.2% 573-3
52-Week Low 513-2

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