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Hard Red Wheat May '24 (KEK24)

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Hard Red Wheat Futures Market News and Commentary

Wheat Greening Up On Friday

The wheat markets are trading higher this morning with Chicago and MPLS putting in a joint effort to lead the way, up 5 to 7 cents. KC is steady to 2 cents higher. They put together some buyers on Thursday, as contracts were mostly higher. Chicago was the weakest, with nearby May closing down ¼, but other contracts up ¾ to 2 ¼ cents. Kansas City was up 1 ½ to 6 ¼ cents at the close. Minneapolis spring wheat futures were steady to 5 ½ cents higher. 

USDA’s weekly Export Sales report showed wheat with the second net reduction for the MY, with net cancellations of 93,556 MT. Much of that was due to a net cancellation of 123,700 MT for China and 48,000 MT for unknown destinations. New crop was a 3-week low at 222,016 MT.

Japan purchased 94,612 T of wheat from the US and Canada in their weekly MOA tender, with 34,272 MT US specific.

An update by the International Grains Council showed a slightly lower world production total for 24/25 at 798 MMT. The carryout for new cro... Read more

Contract Specifications

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Contract
KC 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
KCBT
Point Value
$50
Margin/Maintenance
$2,420/2,200
First Notice Date
04/30/24 (11 days)
Expiration Date
05/14/24 (25 days)

Seasonal Chart

Hard Red Wheat May '24
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Apr 9, 2024

View Chart Details
Commercials - Long / Short
113,931 (-571)
72,090 (-4,880)
Non-Commercials - Long / Short
63,243 (-6,794)
102,699 (-2,807)
Producers - Long / Short
41,847 (+3,139)
60,130 (-1,379)
Swap Dealers - Long / Short
61,616 (-601)
1,492 (-392)
Managed Money - Long / Short
46,206 (-6,459)
90,746 (-2,729)
Other Reportables - Long / Short
17,037 (-335)
11,953 (-78)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
560-4 +3.21%
on 04/03/24
601-6 -3.86%
on 03/25/24
-4-2 (-0.73%)
since 03/19/24
3-Month
551-4 +4.90%
on 03/06/24
638-4 -9.40%
on 01/26/24
-33-0 (-5.40%)
since 01/19/24
52-Week
551-4 +4.90%
on 03/06/24
918-0 -36.98%
on 07/25/23
-260-0 (-31.01%)
since 04/19/23

More Hard Red Wheat Quotes

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Most Recent Stories

More News
Grains Attempt to Rally

Grain markets are firm in the early morning trade, will it last?

Soybeans Higher Following Overnight Trade

Soybeans are trading 3 to 4 cents higher following overnight trade. They pushed lower into Thursday’s close, as contracts settled with losses of 6 ¾ to 15 ¼ cents on the day, led by the nearbys. Soymeal...

ZMN24 : 340.4 (+0.89%)
ZLN24 : 44.77 (+0.25%)
ZSK24 : 1143-0 (+0.77%)
ZSPAUS.CM : 10.8924 (+0.81%)
ZSN24 : 1158-0 (+0.78%)
ZSX24 : 1157-4 (+0.72%)
ZSPX24US.CM : 10.9711 (+0.76%)
Corn Starting Friday With A Bounce

Overnight action in the corn market has prices up 3 to 4 cents this morning. Corn was lower on Thursday, with losses of 3 1/2 to 4 ¾ cents at the close. May was 3 ½ cents in the red and back below $4.30,...

ZCK24 : 431-4 (+1.11%)
ZCPAUS.CM : 4.1517 (+1.23%)
ZCN24 : 440-6 (+1.03%)
ZCZ24 : 463-6 (+0.82%)
ZCPZ24US.CM : 4.3228 (+0.79%)
Wheat Greening Up On Friday

The wheat markets are trading higher this morning with Chicago and MPLS putting in a joint effort to lead the way, up 5 to 7 cents. KC is steady to 2 cents higher. They put together some buyers on Thursday,...

ZWK24 : 545-6 (+1.68%)
ZWN24 : 562-2 (+1.67%)
KEK24 : 578-4 (+0.22%)
KEN24 : 577-0 (+0.30%)
MWK24 : 642-4 (+0.59%)
Grains Overview 4/18/24

Educational and Actionable information using Fibonacci and W.D. Gann analysis.

ZSK24 : 1143-0 (+0.77%)
ZSN24 : 1158-0 (+0.78%)
ZCN24 : 440-6 (+1.03%)
ZCK24 : 431-4 (+1.11%)
ZWK24 : 545-6 (+1.68%)
ZWN24 : 562-2 (+1.67%)
Wheat Rounds Out Thursday with Gains

The wheat markets put together some strength on Thursday, as contracts were mostly higher. Chicago was the weakest, with nearby May closing down ¼, but other contracts up ¾ to 2 ¼ cents. Kansas City...

ZWK24 : 545-6 (+1.68%)
ZWN24 : 562-2 (+1.67%)
KEK24 : 578-4 (+0.22%)
KEN24 : 577-0 (+0.30%)
MWK24 : 642-4 (+0.59%)
Corn Pressured Lower on Thursday

Thursday trading in the corn market saw weakness creep in, with losses of 3 1/2 to 4 ¾ cents at the close. May was 3 ½ cents in the red and back below $4.30, with December settling at $4.60, down 4 ¾....

ZCK24 : 431-4 (+1.11%)
ZCPAUS.CM : 4.1517 (+1.23%)
ZCN24 : 440-6 (+1.03%)
ZCZ24 : 463-6 (+0.82%)
ZCPZ24US.CM : 4.3228 (+0.79%)
Soybeans Close Near Thursday’s Lows

Soybeans pushed lower into Thursday’s close, as contracts settled with losses of 6 ¾ to 15 ¼ cents on the day, led by the nearbys. Soymeal was down 70 cents to $3.0 at the closing bell. Soy Oil was...

ZMN24 : 340.4 (+0.89%)
ZLN24 : 44.77 (+0.25%)
ZSK24 : 1143-0 (+0.77%)
ZSPAUS.CM : 10.8924 (+0.81%)
ZSN24 : 1158-0 (+0.78%)
ZSX24 : 1157-4 (+0.72%)
ZSPX24US.CM : 10.9711 (+0.76%)
Shootin' the Bull about changes taking place

Changes are taking place and you have to take note of them.  The most important to me is the building of carry in the diesel fuel market.  Diesel is the energy source of commerce.  Manufacturing and...

Soybeans Pushing Lower at Midday

Soybeans are trading in the red on Thursday, posting new daily lows at midday, with losses of 9 to as much as 13 cents. Soymeal is slipping lower, with May down 50 cents and July $2.0/ton lower. Soy Oil...

ZMN24 : 340.4 (+0.89%)
ZLN24 : 44.77 (+0.25%)
ZSK24 : 1143-0 (+0.77%)
ZSPAUS.CM : 10.8924 (+0.81%)
ZSN24 : 1158-0 (+0.78%)
ZSX24 : 1157-4 (+0.72%)
ZSPX24US.CM : 10.9711 (+0.76%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 593-7
2nd Resistance Point 588-5
1st Resistance Point 582-7
Last Price 577-6
1st Support Level 571-7
2nd Support Level 566-5
3rd Support Level 560-7

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52-Week High 918-0
Fibonacci 61.8% 778-0
Fibonacci 50% 734-6
Fibonacci 38.2% 691-4
Last Price 577-6
52-Week Low 551-4

See More

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