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Wheat May '26 (ZWK26)

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Wheat Futures Market News and Commentary

Wheat Fades Lower into the Weekend

The wheat complex is in the red across the three exchanges on Friday. Chicago SRW contracts were fractionally to 1 ¼ cents lower on Friday, with September up 6 ¾ cents on the week. KC HRW futures posted losses of 1 ¾ to 6 cents on the session, with September holding onto a 2 cent gain for the week. MPLS spring wheat was down 2 ½ to 4 cents lower at the close, with September rallying 20 cents on the week. September options expired today.

CFTC’s weekly Commitment of Traders report showed managed money cutting back 4,916 contracts from their CBT wheat net short position in the week of 8/18 to a net short of 26,485 contracts. In KC wheat, they added back 7,173 contracts to their net long to 34,835 contracts.

The weekly USDA Export Sales report has tallied 2026/27 wheat sales at 7.936 MMT, now down 31% from last year. That is 38% of the current USDA export estimate and lags the 49% pace from last year and the 45% average. 

Sovecon estimates the Russian wheat crop at 88.... Read more

Contract Specifications

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Contract
Chicago Soft 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
04/30/26
Expiration Date
05/14/26 (expired)

Seasonal Chart

Wheat May '26
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Aug 18, 2026

View Chart Details
Commercials - Long / Short
162,266 (-9,586)
145,885 (-3,213)
Non-Commercials - Long / Short
114,685 (-294)
133,450 (-6,439)
Producers - Long / Short
50,755 (-14,193)
117,208 (-372)
Swap Dealers - Long / Short
96,879 (+7,074)
14,045 (-374)
Managed Money - Long / Short
78,911 (+902)
104,239 (-7,170)
Other Reportables - Long / Short
35,774 (-1,196)
29,211 (+731)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
582-6 +11.03%
on 04/17/26
670-6 -3.54%
on 05/13/26
+55-0 (+9.29%)
since 04/14/26
3-Month
538-6 +20.09%
on 02/17/26
670-6 -3.54%
on 05/13/26
+98-4 (+17.96%)
since 02/13/26
52-Week
513-2 +26.06%
on 01/02/26
670-6 -3.54%
on 05/13/26
+56-0 (+9.48%)
since 05/14/25

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Wheat Fades Lower into the Weekend

The wheat complex is in the red across the three exchanges on Friday. Chicago SRW contracts were fractionally to 1 ¼ cents lower on Friday, with September up 6 ¾ cents on the week. KC HRW futures posted...

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Shootin' the Bull about a Novel's worth of events this week

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ZSX26 : 1239-4s (+0.24%)
ZSU26 : 1225-0s (+0.35%)
ZSX26 : 1239-4s (+0.24%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 647-0
2nd Resistance Point 647-0
1st Resistance Point 647-0
Last Price 647-0s
1st Support Level 647-0
2nd Support Level 647-0
3rd Support Level 647-0

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52-Week High 670-6
Last Price 647-0s
Fibonacci 61.8% 610-5
Fibonacci 50% 592-0
Fibonacci 38.2% 573-3
52-Week Low 513-2

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