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Hard Red Wheat Sep '23 (KEU23)
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Hard Red Wheat Futures Market News and Commentary

Sharp Losses, New Lows for Wheat

Many of the front month wheat futures saw new LoC lows on Friday. SRW dropped 20 to 37 cents with a 6.4% loss in the Dec contract. That finished the week down by 38 cents and 60 ½ cents lower for the month. Sep ’24 HRW futures printed a LoC low on Friday, though the front months were their lowest since Sep ’21 on 20c losses. December HRW fell 47 ½ cents for the week and closed the month of September down by 63 ½ cents. Spring wheat futures were down 1.8% to 5% on Friday, leaving the Dec contract at a 53 ½ cent loss for the week, flipping the month’s move to a 51 ½ cent loss.

CFTC reported managed money traders were 96,384 contracts net short in CBT wheat as of 9/26. That was little changed on net through the week with 3.3k new longs and 2.9k new shorts added. Spec traders were shown 4k contracts more net short in KC wheat via net new selling to 16.4k contracts. Managed money traders were 15,657 contracts net short in MGE wheat as of 9/26. 

The quarterly Grain Stocks repo... 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
$3,740/3,400
First Notice Date
08/31/23
Expiration Date
09/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Sep 26, 2023

View Chart Details
Commercials - Long / Short
79,985 (-184)
61,188 (-5,504)
Non-Commercials - Long / Short
53,038 (-1,441)
68,703 (+3,283)
Producers - Long / Short
28,618 (-247)
51,033 (-5,000)
Swap Dealers - Long / Short
45,946 (+707)
4,734 (+140)
Managed Money - Long / Short
40,619 (+68)
57,209 (+4,125)
Other Reportables - Long / Short
12,419 (-1,509)
11,494 (-842)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
704-0 +0.99%
on 09/12/23
762-4 -6.75%
on 08/25/23
-39-4 (-5.26%)
since 08/14/23
3-Month
704-0 +0.99%
on 09/12/23
929-6 -23.53%
on 07/25/23
-71-2 (-9.11%)
since 06/14/23
52-Week
704-0 +0.99%
on 09/12/23
994-2 -28.49%
on 10/10/22
-213-4 (-23.09%)
since 09/14/22

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 711-5
2nd Resistance Point 711-3
1st Resistance Point 711-1
Last Price 711-0s
1st Support Level 710-5
2nd Support Level 710-3
3rd Support Level 710-1

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52-Week High 994-2
Fibonacci 61.8% 883-3
Fibonacci 50% 849-1
Fibonacci 38.2% 814-7
Last Price 711-0s
52-Week Low 704-0

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