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Hard Red Wheat Dec '23 (KEZ23)
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Hard Red Wheat Futures Market News and Commentary

Mixed Wheat Market at Midday

The front month wheat futures are trading on both sides of UNCH at midday. Both the Chicago SRW and MGE HRS futures are fractionally mixed, while KC is trading 3 to 3 ½ cents in the red through Tuesday.  

Analysts are looking for NASS to show 1.77 bbu of Sep wheat stocks in the quarterly report. That would be 7 mbu tighter yr/yr on a 26 mbu tighter supply via WASDE. Also to be reported on Friday, analysts are looking for a 2 mbu reduced production outlook for wheat. The average trade guess is to see 1.732 mbu, though estimates range from 1.689 bbu to 1.757. 

Ukraine’s Ag Ministry reported winter wheat planting reached 1.02m HA as of 9/26. That is 64% ahead of last year, mainly reflecting a larger area dedicated to wheat. 

NASS reported winter wheat planting was 26% finished as of 9/24. That was 11% points further along for the week, but remains 3% points behind the average. KS planting was 18% planted – compared to 37% on average. The weekly update showed 7% was em... 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
11/30/23 (65 days)
Expiration Date
12/14/23 (79 days)

Seasonal Chart

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

Commitment of Traders Positions as of Sep 19, 2023

View Chart Details
Commercials - Long / Short
80,169 (+1,390)
66,692 (+2,802)
Non-Commercials - Long / Short
54,479 (+1,110)
65,420 (+792)
Producers - Long / Short
28,865 (-2,400)
56,033 (+2,393)
Swap Dealers - Long / Short
45,239 (+3,354)
4,594 (-27)
Managed Money - Long / Short
40,551 (+1,553)
53,084 (+750)
Other Reportables - Long / Short
13,928 (-443)
12,336 (+42)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
703-0 +1.07%
on 09/25/23
769-4 -7.67%
on 08/28/23
-54-0 (-7.06%)
since 08/25/23
3-Month
703-0 +1.07%
on 09/25/23
936-0 -24.09%
on 07/25/23
-157-4 (-18.15%)
since 06/26/23
52-Week
703-0 +1.07%
on 09/25/23
990-0 -28.23%
on 10/10/22
-198-0 (-21.79%)
since 09/26/22

More Hard Red Wheat Quotes

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Most Recent Stories

More News
Corn Trading Red at Midday

Front month corn prices are working 2 ½ to 4 cents weaker through Tuesday’s midday. That has Dec back to UNCH for the week following the strength on Monday. Ahead of the Quarterly Grain Stocks report...

ZCZ23 : 479-6s (-0.31%)
ZCPAUS.CM : 4.5098 (-0.46%)
ZCH24 : 494-4s (-0.25%)
ZCK24 : 502-6s (-0.30%)
Soybeans Fading through Midday

Beans are back in the red after some overnight buy action. Prices are currently 15 cents off their highs and 2 ¾ to 5 ½ cents in the red. Soymeal futures are also lower with losses of $2.10 to $2.30/ton...

ZMZ23 : 392.7s (+0.74%)
ZLZ23 : 57.71s (+0.40%)
ZSX23 : 1302-6s (+0.39%)
ZSPAUS.CM : 12.3802 (+0.41%)
ZSF24 : 1321-0s (+0.42%)
ZSH24 : 1332-6s (+0.43%)
Mixed Wheat Market at Midday

The front month wheat futures are trading on both sides of UNCH at midday. Both the Chicago SRW and MGE HRS futures are fractionally mixed, while KC is trading 3 to 3 ½ cents in the red through Tuesday....

ZWZ23 : 589-0s (unch)
ZWH24 : 616-2s (unch)
ZWPAES.CM : 5.0184 (unch)
KEZ23 : 710-4s (-0.56%)
KEPAWS.CM : 6.3888 (-0.61%)
MWZ23 : 766-4s (-0.33%)
What Does McDonald's Tell Us About the Economy?

Can we get a read on the economy based on the Big Mac? Oddly enough, there is more than one theory that tells us that is indeed the case.

KO : 56.53 (-0.82%)
LEV23 : 184.800s (-1.16%)
MCD : 267.72 (-0.76%)
Should You Buy the 10% Correction in This Dow Stock?

McDonald's has a lot of positive catalysts ahead of it, making the latest dip a golden opportunity to buy the shares.

MCD : 267.72 (-0.76%)
Soybean Futures Defend MAJOR Support. Is it Time to Buy?

Soybeans test and defend major 4-star support in yesterday's trade, taking prices back to our pivot pocket from 1300-1304. These are the next upside targets to keep an eye on

Corn Gives Back Overnight Gains

Corn is back to UNCH to 1 ¾ cents lower in early Tuesday futures trading after giving back overnight gains. The back and forth Tuesday session so far has seen a nickel trading range. Front month corn...

ZCZ23 : 479-6s (-0.31%)
ZCPAUS.CM : 4.5098 (-0.46%)
ZCH24 : 494-4s (-0.25%)
ZCK24 : 502-6s (-0.30%)
Beans Get Back to $13 in Overnight Trade

Soybeans are a nickel off their overnight highs this morning, but the 4 cent gain has Nov back to the $13 mark. Soybean futures settled 1 ½ to 3 ¾ cents higher on Monday, but well off of their lows....

ZMZ23 : 392.7s (+0.74%)
ZLZ23 : 57.71s (+0.40%)
ZSX23 : 1302-6s (+0.39%)
ZSPAUS.CM : 12.3802 (+0.41%)
ZSF24 : 1321-0s (+0.42%)
ZSH24 : 1332-6s (+0.43%)
Tuesday Wheat Market Trading Higher

Wheat is currently 2 to 4 cents higher in the CBT market this morning, though Dec is off the overnight high by a nickel. KC wheat is starting Tuesday mixed. Chicago wheat prices ended the session near...

ZWZ23 : 589-0s (unch)
ZWH24 : 616-2s (unch)
ZWPAES.CM : 5.0184 (unch)
KEZ23 : 710-4s (-0.56%)
KEPAWS.CM : 6.3888 (-0.61%)
MWZ23 : 766-4s (-0.33%)
Corn Closed Monday Higher

Front month corn futures ended the session with 2 ½ to 4 cent gains. The Dec contract ended just 1 ¼ cents off the high after nearly a 10 cent range for the day. The weekly NASS Crop Progress report...

ZCZ23 : 479-6s (-0.31%)
ZCPAUS.CM : 4.5098 (-0.46%)
ZCH24 : 494-4s (-0.25%)
ZCK24 : 502-6s (-0.30%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 733-7
2nd Resistance Point 727-7
1st Resistance Point 719-1
Last Price 710-4s
1st Support Level 704-3
2nd Support Level 698-3
3rd Support Level 689-5

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52-Week High 990-0
Fibonacci 61.8% 880-3
Fibonacci 50% 846-4
Fibonacci 38.2% 812-5
Last Price 710-4s
52-Week Low 703-0

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