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Hard Red Wheat Jul '23 (KEN23)
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Hard Red Wheat Futures Market News and Commentary

Mixed Close in Wheat Futures

Chicago wheat ended the midweek session with 3 1/2 to 5 cent gains for the day. May SRW traded in a 27 1/2 cent range for the day. The hard red contracts were lower at the close. HRW futures ended down by 2 to 4 1/2 cents, and HRS closed 3 1/4 to 4 1/2 cents lower across the front months. 

The MGE reported MN and WI warehouse stocks were 15.424m bushels as of 3/26. That was down 23.3% from last year’s supplies and 99k bushels lighter wk/wk. 

Ahead of the weekly Export Sales report analysts surveyed expect to see between 125k MT and 300k MT of old crop wheat sales. New crop sales are expected to be less than 150k MT for the week that ended 3/25. 

Interfax reported that Russia is set to construct 61 grain vessels with the lead ships to be ready for launch in 2-3 years. 

 

May 23 CBOT Wheat  closed at $7.04 3/4, up 5 cents,

Jul 23 CBOT Wheat  closed at $7.16 1/4, up 4 3/4 cents,

Cash SRW Wheat  was $6.49, up 4 7/8 cents,

May 23 KCBT Wheat... 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
$3,190/2,900
First Notice Date
06/30/23 (92 days)
Expiration Date
07/14/23 (106 days)

Seasonal Chart

Hard Red Wheat Jul '23
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Mar 21, 2023

View Chart Details
Commercials - Long / Short
80,096 (-7)
69,340 (+1,777)
Non-Commercials - Long / Short
41,069 (-2,384)
48,647 (-5,687)
Producers - Long / Short
33,845 (-1,349)
59,213 (+499)
Swap Dealers - Long / Short
37,934 (+175)
1,810 (+111)
Managed Money - Long / Short
33,032 (-425)
42,413 (-4,882)
Other Reportables - Long / Short
8,037 (-1,959)
6,234 (-805)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
763-6 +12.14%
on 03/10/23
880-6 -2.75%
on 03/29/23
+50-0 (+6.20%)
since 02/28/23
3-Month
763-6 +12.14%
on 03/10/23
894-2 -4.22%
on 02/14/23
-13-4 (-1.55%)
since 12/28/22
52-Week
763-6 +12.14%
on 03/10/23
1210-0 -29.21%
on 05/19/22
-30-2 (-3.41%)
since 03/28/22

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ZWK23 : 704-6 (unch)
ZWN23 : 715-6 (unch)
KEN23 : 856-4 (unch)
ZCK23 : 651-4 (+0.15%)
ZCN23 : 629-6 (unch)
ZSK23 : 1477-0 (unch)
ZSN23 : 1450-0 (unch)
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WEAT : 7.16 (+0.56%)
CORN : 25.29 (unch)
SOYB : 26.84 (-0.18%)
TAGS : 30.70 (+0.11%)
Mixed Close in Wheat Futures

Chicago wheat ended the midweek session with 3 1/2 to 5 cent gains for the day. May SRW traded in a 27 1/2 cent range for the day. The hard red contracts were lower at the close. HRW futures ended down...

ZWK23 : 704-6 (unch)
ZWN23 : 715-6 (unch)
ZWPAES.CM : 6.4906 (+0.75%)
KEK23 : 870-2 (unch)
KEPAWS.CM : 8.3581 (-0.24%)
MWK23 : 875-2 (-0.31%)
New Crop Beans Left Out

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RSK23 : 766.50 (-0.45%)
KOM23 : 3,732 (+0.67%)
ZSK23 : 1477-0 (unch)
ZSPAUS.CM : 14.4745 (+0.81%)
ZSN23 : 1450-0 (unch)
ZSQ23 : 1401-4 (-0.07%)
Corn Finished Mixed on Wednesday

New crop corn futures were 1 1/4 to 2 cents weaker at the midweek close. December printed a 7c range from -3 to +4 cents. The old crop May and July contracts stayed in the black for the settle with 1 and...

ZCK23 : 651-4 (+0.15%)
ZCPAUS.CM : 6.5666 (+0.54%)
ZCN23 : 629-6 (unch)
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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 901-2
2nd Resistance Point 891-0
1st Resistance Point 874-0
Last Price 856-4
1st Support Level 846-6
2nd Support Level 836-4
3rd Support Level 819-4

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52-Week High 1210-0
Fibonacci 61.8% 1039-4
Fibonacci 50% 986-7
Fibonacci 38.2% 934-2
Last Price 856-4
52-Week Low 763-6

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