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Hard Red Winter Wheat Dec '25 (KEZ25)

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Hard Red Winter Wheat Futures Market News and Commentary

Wheat Sees Mixed Thursday Action

The wheat complex posted gains in the winter wheat contracts on Thursday, with spring wheat lower. Chicago SRW futures posted 2 to 3 cent gains at the close.  KC HRW futures were up 4 to 5 cents, with in delivery December leading the way. MPLS spring wheat was down 3 to 4 cents in the front months.

USDA released Export Sales data for the week ending on October 31 this morning, showing 505,415 MT of wheat sold int that week. That was in the middle of traders looking for between 250,000 and 650,000 MT and was a 3-week high for bookings.

Canadian wheat production was updated to 39.96 MMT in this morning’s Statistics Canada report, That was a 3.3 MMT increase from the September total and above estimates at 38.49 MMT. Spring wheat was pegged at 29.26 MMT, up 10.3% from last year. 

Dec 25 CBOT Wheat  closed at $5.41, up 3 1/4 cents,

Mar 26 CBOT Wheat  closed at $5.40 1/4, up 2 cents,

Dec 25 KCBT Wheat  closed at $5.29 1/2, up 8 1/2 cents,

Mar 26 KCBT Wh... Read more

Contract Specifications

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Contract
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
CBOT
Point Value
$50
Margin/Maintenance
$1,760/1,600
First Notice Date
11/28/25
Expiration Date
12/12/25 (7 days)

Seasonal Chart

Hard Red Winter Wheat Dec '25
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Oct 21, 2025

View Chart Details
Commercials - Long / Short
137,573 (-1,992)
96,006 (+548)
Non-Commercials - Long / Short
91,300 (-753)
133,873 (-2,543)
Producers - Long / Short
61,504 (-3,699)
81,938 (-805)
Swap Dealers - Long / Short
65,174 (+621)
3,173 (+267)
Managed Money - Long / Short
58,825 (-1,706)
126,006 (-2,317)
Other Reportables - Long / Short
32,475 (+953)
7,867 (-226)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
503-4 +5.16%
on 11/21/25
540-0 -1.94%
on 11/05/25
-7-0 (-1.30%)
since 11/04/25
3-Month
477-2 +10.95%
on 10/14/25
540-0 -1.94%
on 11/05/25
+23-2 (+4.59%)
since 09/04/25
52-Week
477-2 +10.95%
on 10/14/25
682-6 -22.45%
on 02/19/25
-57-4 (-9.80%)
since 12/04/24

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Most Recent Stories

More News
Corn Pops Higher on Thursday with Continued Export Business

Corn futures posted gains on Thursday, with contracts up 3 to 4 cents in most front months, as December was up 6 ¼. The CmdtyView national average Cash Corn price was up 4 cents on the day at $4.02 3/4....

ZCZ25 : 437-6s (+1.45%)
ZCH26 : 446-4 (-0.17%)
ZCZ25 : 437-6s (+1.45%)
ZCPAUS.CM : 4.0168 (+1.00%)
Soybeans Rebound on Thursday

Soybeans saw higher trade on Thursday, with contracts up 2 to 3 ½ cents at the close. The cmdtyView national average Cash Bean price was 3 3/4 cents higher at $10.49 3/4. Soymeal were mixed, with contracts...

ZSPAUS.CM : 10.4873 (+0.37%)
ZLF26 : 51.88 (+0.17%)
ZMF26 : 310.7 (-0.16%)
ZSX25 : 1112-6s (-1.70%)
ZSF26 : 1117-2 (-0.20%)
ZSH26 : 1126-6 (-0.18%)
Wheat Sees Mixed Thursday Action

The wheat complex posted gains in the winter wheat contracts on Thursday, with spring wheat lower. Chicago SRW futures posted 2 to 3 cent gains at the close. KC HRW futures were up 4 to 5 cents, with...

KEH26 : 533-6 (-0.05%)
KEZ25 : 529-4s (+1.63%)
MWZ25 : 5.8150s (unch)
ZWZ25 : 541-0s (+0.60%)
ZWH26 : 539-2 (-0.19%)
Shootin' the Bull about preparing for the next move down

Cattle feeders continue to inhale negative margins.  Futures traders are gracious in now providing a negative basis, but not gracious enough to reduce the negative margins.

Wheat Mixed, with Spring Wheat Pressured by Canadian Data

The wheat complex is higher in the winter wheat contracts on Thursday, with sprung wheat lower. Chicago SRW futures are trading with 2 to 3 cent midday gains. KC HRW futures are up 4 to 5 cents at midday....

KEH26 : 533-6 (-0.05%)
KEZ25 : 529-4s (+1.63%)
MWZ25 : 5.8150s (unch)
ZWZ25 : 541-0s (+0.60%)
ZWH26 : 539-2 (-0.19%)
Corn Bulls Pushing Back Higher on Thursday as Export Business Picks Up

Corn futures are trading with Thursday gains of 3 to 6 ¼ cents at midday. The CmdtyView national average Cash Corn price is up 4 cents at $4.02 3/4. USDA reported a private export sale of 100,800 MT...

ZCZ25 : 437-6s (+1.45%)
ZCH26 : 446-4 (-0.17%)
ZCZ25 : 437-6s (+1.45%)
ZCPAUS.CM : 4.0168 (+1.00%)
Soybeans Rebounding on Thursday

Soybeans are showing 3 to 5 ¾ cent gains across most contracts on Thursday. The cmdtyView national average Cash Bean price is 5 3/4 cents higher at $10.51 3/4. Soymeal futures are up 50 to 70 cents, with...

ZSPAUS.CM : 10.4873 (+0.37%)
ZLF26 : 51.88 (+0.17%)
ZMF26 : 310.7 (-0.16%)
ZSX25 : 1112-6s (-1.70%)
ZSF26 : 1117-2 (-0.20%)
ZSH26 : 1126-6 (-0.18%)
Wheat Prices Are Falling on Supply Concerns Amid Russia-Ukraine Peace Talks. Make This 1 Trade Now.

March soft red winter wheat futures present a selling opportunity on more price weakness.

ZWH26 : 539-2 (-0.19%)
Soybeans Back to Higher Trade on Thursday

Soybeans are trading with 3 to 5 ½ cent higher trade so far on Thursday morning. Futures fell back by 9 to 10 cents in the front months on Wednesday. Open interest was up 7,026 contracts on Wednesday,...

ZSPAUS.CM : 10.4873 (+0.37%)
ZLF26 : 51.88 (+0.17%)
ZMF26 : 310.7 (-0.16%)
ZSX25 : 1112-6s (-1.70%)
ZSF26 : 1117-2 (-0.20%)
ZSH26 : 1126-6 (-0.18%)
Wheat Firm Early on Thursday

Wheat is trading with contracts near unchanged. The wheat complex saw weakness across most contracts on Wednesday. Chicago SRW futures were steady to 3 cents in the red on the day. Open interest rose 2,020...

KEH26 : 533-6 (-0.05%)
KEZ25 : 529-4s (+1.63%)
MWZ25 : 5.8150s (unch)
ZWZ25 : 541-0s (+0.60%)
ZWH26 : 539-2 (-0.19%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 545-2
2nd Resistance Point 537-4
1st Resistance Point 533-4
Last Price 529-4s
1st Support Level 521-6
2nd Support Level 514-0
3rd Support Level 510-0

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52-Week High 682-6
Fibonacci 61.8% 604-2
Fibonacci 50% 580-0
Fibonacci 38.2% 555-6
Last Price 529-4s
52-Week Low 477-2

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