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Hard Red Winter Wheat Dec '26 (KEZ26)

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Hard Red Winter Wheat Futures Market News and Commentary

Wheat Falls Back on Wednesday

The wheat complex closed the midweek session with weakness across the three markets. Chicago SRW contracts closed with Wednesday losses of 7 ¾ to 10 ¾ cents. KC HRW futures posted 5 ½ to 7 ¾ cent losses. MPLS spring wheat wad steady to down 3 cents across most contracts. 

Export Sales data from USDA will be released on Thursday morning, as analysts are looking for between 250,000 and 600,000 MT in 2026/27 wheat sales in the week of July 2.

Crop Production data will be updated on Friday, with a Bloomberg poll of analysts looking for all wheat production to total 1.527 bbu, down 17 mbu from last month. All winter wheat production is seen 1.004 bbu, a 26 mbu drop from last month, with spring wheat at 458 mbu.

SovEcon trimmed their wheat production estimate by 0.2 MMT for 2026/27 to 46.5 MMT, which is slightly above the 46.2 MMT projected for last year.

Jul 26 CBOT Wheat  closed at $5.99 1/2, down 9 3/4 cents,

Sep 26 CBOT Wheat  closed at $6.07 3/4, down 10... 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
$1,870/1,700
First Notice Date
11/30/26 (144 days)
Expiration Date
12/14/26 (158 days)

Seasonal Chart

Hard Red Winter Wheat Dec '26
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Jun 30, 2026

View Chart Details
Commercials - Long / Short
111,811 (-6,927)
97,494 (-3,200)
Non-Commercials - Long / Short
66,398 (+1,433)
76,737 (-3,355)
Producers - Long / Short
27,790 (-687)
89,370 (+2,678)
Swap Dealers - Long / Short
80,263 (-622)
4,366 (-260)
Managed Money - Long / Short
59,570 (+2,707)
54,608 (-3,013)
Other Reportables - Long / Short
6,828 (-1,274)
22,129 (-342)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
626-0 +5.03%
on 06/30/26
678-4 -3.10%
on 06/18/26
+3-0 (+0.46%)
since 06/09/26
3-Month
626-0 +5.03%
on 06/30/26
767-6 -14.36%
on 05/13/26
+18-0 (+2.81%)
since 04/09/26
52-Week
562-4 +16.89%
on 10/14/25
767-6 -14.36%
on 05/13/26
+32-4 (+5.20%)
since 07/09/25

More Hard Red Winter Wheat Quotes

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Most Recent Stories

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Sell the Rip, Buy the Dip?

Grain markets have offered some tremendous short term trading opportunities over the last two weeks. Is the chop, the new trend?

Soybeans Close Wednesday on a Weaker Note

Soybeans faded off the early gains on Wednesday, as buyers of the Chinese rumor were selling the fact. Contracts were down fractionally to 5 ½ cents at the close. The cmdtyView national average Cash Bean...

ZSPAUS.CM : 11.4513 (-0.07%)
ZLZ26 : 69.70 (+0.26%)
ZMZ26 : 309.8 (-0.45%)
ZSPX26US.CM : 11.2732 (-0.48%)
ZSX26 : 1188-2 (-0.34%)
ZSN26 : 1197-0 (+0.17%)
ZSQ26 : 1186-6 (-0.54%)
Corn Corrects Lower on Wednesday

Corn futures fell back on Wednesday after rallying nearly 40 cents off the lows last week, with contracts down 3 to 8 ¾ cents at the close. The CmdtyView national average Cash Corn price was 9 cents lower...

ZCZ26 : 451-4 (-1.04%)
ZCU26 : 430-4 (-1.03%)
ZCN26 : 432-4 (-0.52%)
ZCPZ26US.CM : 4.1420 (-1.13%)
ZCPAUS.CM : 3.9949 (-1.10%)
Wheat Falls Back on Wednesday

The wheat complex closed the midweek session with weakness across the three markets. Chicago SRW contracts closed with Wednesday losses of 7 ¾ to 10 ¾ cents. KC HRW futures posted 5 ½ to 7 ¾ cent losses....

KEU26 : 643-6 (-0.23%)
KEN26 : 630-0 (-0.67%)
MWN26 : 6.0300s (unch)
ZWN26 : 599-4s (-1.60%)
ZWU26 : 607-0 (-0.12%)
Shootin' the Bull about increasing input costs

So far this week, corn has rallied sharply, diesel fuel rallied to within $.16 of contract high, and interest rates rose sharply.

Corn Falling Back at Wednesday’s Midday

Corn futures are showing 7 to 8 cent losses so far on Wednesday. There was just 1 delivery notice against July futures overnight. The CmdtyView national average Cash Corn price is 7 ½ cents lower at $4.05...

ZCZ26 : 451-4 (-1.04%)
ZCU26 : 430-4 (-1.03%)
ZCN26 : 432-4 (-0.52%)
ZCPZ26US.CM : 4.1420 (-1.13%)
ZCPAUS.CM : 3.9949 (-1.10%)
Soybeans Posting Mixed Action on Wednesday

Soybeans are mixed at midday with old crop and new crop spreading at midday, as front months are up 1 to 5 ½ cents and new crop contracts down 3 to 5 cents. The cmdtyView national average Cash Bean price...

ZSPAUS.CM : 11.4513 (-0.07%)
ZLZ26 : 69.70 (+0.26%)
ZMZ26 : 309.8 (-0.45%)
ZSPX26US.CM : 11.2732 (-0.48%)
ZSX26 : 1188-2 (-0.34%)
ZSN26 : 1197-0 (+0.17%)
ZSQ26 : 1186-6 (-0.54%)
Wheat Falling Back on Wednesday

The wheat complex is trading with midday losses on Wednesday. Chicago SRW contracts are posting 2 to 8 cent losses on Wednesday. KC HRW futures are showing 3 to 7 cent lower trade at midday. There were...

KEU26 : 643-6 (-0.23%)
KEN26 : 630-0 (-0.67%)
MWN26 : 6.0300s (unch)
ZWN26 : 599-4s (-1.60%)
ZWU26 : 607-0 (-0.12%)
Wheat Posting Early Wednesday Strength

Wheat is showing 3 to 5 cent gains so far on Wednesday morning. The wheat complex found late session strength on Tuesday. Chicago SRW contracts were 3 ¼ to 7 ¼ cents in the green on the day. Open interest...

KEU26 : 643-6 (-0.23%)
KEN26 : 630-0 (-0.67%)
MWN26 : 6.0300s (unch)
ZWN26 : 599-4s (-1.60%)
ZWU26 : 607-0 (-0.12%)
Corn Showing Steady Action on Wednesday

Corn price action is steady so far on Wednesday morning. Futures extended the rally to Tuesday, with contracts closing 3 ½ to 6 ¾ cents higher, as July was just 1 ¾ cents higher. Open interest suggested...

ZCZ26 : 451-4 (-1.04%)
ZCU26 : 430-4 (-1.03%)
ZCN26 : 432-4 (-0.52%)
ZCPZ26US.CM : 4.1420 (-1.13%)
ZCPAUS.CM : 3.9949 (-1.10%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 692-5
2nd Resistance Point 684-7
1st Resistance Point 672-3
Last Price 658-0
1st Support Level 652-1
2nd Support Level 644-3
3rd Support Level 631-7

See More

52-Week High 767-6
Fibonacci 61.8% 689-3
Fibonacci 50% 665-1
Last Price 658-0
Fibonacci 38.2% 640-7
52-Week Low 562-4

See More

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