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Spring Wheat May '25 (MWK25)

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Spring Wheat Futures Market News and Commentary

Wheat Slide Continuing on Wednesday

Wheat is trading with mostly weaker action so far on Wednesday morning. The wheat complex was weaker across the three market on Tuesday. Chicago SRW futures posted 2 to 3 cent losses on the day. Kansas City HRW contracts slipped 4 to 6 cents into the close.  MPLS spring wheat was 3 to 5cents in the red on the session.

Overnight, South Korean mills purchased 50,000 MT of wheat from the US. 

Monday’s Crop Progress report showed a total of 17% of the spring wheat crop planted, ahead of the 12% 5-year average pace. Just MN and WA were reported below average. Emergence was tallied at 2%, matching normal. The US winter wheat crop was listed at 15% headed as of April 20, 2 percentage points ahead of normal. Winter wheat ratings were down 2% to 45% good/excellent, as the Brugler500 index was down 4 points to 325.  By state, IL was down 21 points, with CO falling 13, SD dropping 11, KS down 9 and OK 7 points lower. Improvement was seen in TX (+14), with MO and MT up 12. 

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Contract Specifications

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Contract
Hard Red Spring 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. - 1:30p.m. (Sun-Fri) (Settles 1:15p.m.) CST
Exchange
MIAX
Point Value
$50
Margin/Maintenance
$1,870/1,700
First Notice Date
04/30/25 (7 days)
Expiration Date
05/14/25 (21 days)

Seasonal Chart

Spring Wheat May '25
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Apr 15, 2025

View Chart Details
Commercials - Long / Short
45,785 (-3,982)
30,051 (+1,559)
Non-Commercials - Long / Short
14,686 (-1,821)
32,376 (-9,246)
Producers - Long / Short
40,920 (-4,202)
27,845 (+2,003)
Swap Dealers - Long / Short
4,435 (+98)
1,776 (-566)
Managed Money - Long / Short
10,585 (-1,445)
31,740 (-9,134)
Other Reportables - Long / Short
4,101 (-376)
636 (-112)
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Price Performance

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Period Period Low Period High Performance
1-Month
573-0 +3.49%
on 03/28/25
618-0 -4.05%
on 04/11/25
-12-0 (-1.98%)
since 03/21/25
3-Month
573-0 +3.49%
on 03/28/25
659-4 -10.08%
on 02/19/25
-22-0 (-3.58%)
since 01/23/25
52-Week
573-0 +3.49%
on 03/28/25
802-4 -26.11%
on 05/28/24
-121-6 (-17.03%)
since 04/23/24

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Wheat (ZWN25): The market broke through a critical support level set on August 27, 2024, at 560. This breakdown led to a short entry at 560 on April 21, with downside targets now seen at 545, 533, and...

Wheat Slide Continuing on Wednesday

Wheat is trading with mostly weaker action so far on Wednesday morning. The wheat complex was weaker across the three market on Tuesday. Chicago SRW futures posted 2 to 3 cent losses on the day. Kansas...

KEN25 : 556-2 (-0.36%)
MWK25 : 594-4 (-0.17%)
KEK25 : 543-4 (-0.46%)
ZWK25 : 533-0 (-0.47%)
ZWN25 : 548-0 (-0.41%)
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ZSPX25US.CM : 9.6958 (+0.62%)
ZLN25 : 48.30 (+0.56%)
ZMN25 : 300.5 (+0.33%)
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ZSK25 : 1044-6 (+0.94%)
ZSX25 : 1032-4 (+0.58%)
ZSN25 : 1055-2 (+0.88%)
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ZCK25 : 474-6 (-0.21%)
ZCN25 : 482-0 (-0.26%)
Did Watson Overshoot in the Soybean Market?

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Corn Falls Lower on Tuesday

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ZCPZ25US.CM : 4.2378 (-0.30%)
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ZCN25 : 482-0 (-0.26%)
Wheat Posts Weakness on Tuesday

The wheat complex was weaker across the three market on Tuesday. Chicago SRW futures posted 2 to 3 cent losses on the day. Kansas City HRW contracts slipped 4 to 6 cents into the close. MPLS spring wheat...

KEN25 : 556-2 (-0.36%)
MWK25 : 594-4 (-0.17%)
KEK25 : 543-4 (-0.46%)
ZWK25 : 533-0 (-0.47%)
ZWN25 : 548-0 (-0.41%)
Soybeans Hold Gains on Tuesday

Soybean futures popped higher on Tuesday, with contracts fractionally to 6 cents higher, led by the nearbys. CmdtyView’s national front month Cash Bean price was up 6 3/4 cents at $9.85 1/4. Soymeal...

ZSPX25US.CM : 9.6958 (+0.62%)
ZLN25 : 48.30 (+0.56%)
ZMN25 : 300.5 (+0.33%)
ZSPAUS.CM : 9.9520 (+1.01%)
ZSK25 : 1044-6 (+0.94%)
ZSX25 : 1032-4 (+0.58%)
ZSN25 : 1055-2 (+0.88%)
Pure Hedge - Livestock and Grain

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Cattleman are weeding out the weak with prices tempting some to exit the business while on top. Margins are tight in every sector with suspect that today's fat cattle profits are merely being invested...

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 609-3
2nd Resistance Point 606-3
1st Resistance Point 600-7
Last Price 594-4
1st Support Level 592-3
2nd Support Level 589-3
3rd Support Level 583-7

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52-Week High 802-4
Fibonacci 61.8% 714-7
Fibonacci 50% 687-6
Fibonacci 38.2% 660-5
Last Price 594-4
52-Week Low 573-0

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