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Wheat Sep '23 (ZWU23)
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Wheat Futures Market News and Commentary

Mixed Close for Wheat Market

Chicago wheat futures ended the day in the black, while the hard red futures faded. The front month SRW prices were 2 3/4 to 3 3/4 cents higher at the close. KC HRW futures ended the day down by 2 to 3 3/4 cents. July HRW printed a wide 41 3/4 cent range. Minneapolis wheat futures closed 2 3/4 to 3 3/4 cents lower across the front month contracts. 

Analysts are looking for 5.5 mbu looser wheat carryout ahead of the monthly USDA report. The full range of estimates is from 592 mbu to 643 mbu from 598 in the May report. New crop wheat stocks average 566 mbu going in, which would be 10.2 mbu looser if realized. Traders are looking to see a 6.5 mbu increase for wheat output on average – with HRW expected at 518 mbu and SRW at 414.5.

Jul 23 CBOT Wheat  closed at $6.27 3/4, up 3 3/4 cents,

Sep 23 CBOT Wheat  closed at $6.40, up 3 3/4 cents,

Cash SRW Wheat  was $5.78 3/4, up 4 1/2 cents,

Jul 23 KCBT Wheat  closed at $8.20 1/4, down 2 cents,

Cash HRW Wheat... 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
$2,530/2,300
First Notice Date
08/31/23 (86 days)
Expiration Date
09/14/23 (100 days)

Seasonal Chart

Wheat Sep '23
Average Price Chart for 5 Prior Sep Contracts

Commitment of Traders Positions as of May 30, 2023

View Chart Details
Commercials - Long / Short
154,656 (+13,374)
65,809 (+5,113)
Non-Commercials - Long / Short
107,338 (-5,052)
201,334 (+2,625)
Producers - Long / Short
75,489 (+12,939)
51,351 (+4,832)
Swap Dealers - Long / Short
70,216 (-180)
5,507 (-334)
Managed Money - Long / Short
57,391 (-3,503)
184,425 (+2,478)
Other Reportables - Long / Short
49,947 (-1,549)
16,909 (+147)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
587-6 +8.89%
on 05/31/23
680-0 -5.88%
on 05/08/23
-31-4 (-4.69%)
since 05/05/23
3-Month
587-6 +8.89%
on 05/31/23
746-0 -14.21%
on 03/29/23
-74-4 (-10.43%)
since 03/06/23
52-Week
587-6 +8.89%
on 05/31/23
1096-4 -41.63%
on 06/13/22
-449-6 (-41.27%)
since 06/06/22

More Wheat Quotes

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Most Recent Stories

More News
Mixed Close for Wheat Market

Chicago wheat futures ended the day in the black, while the hard red futures faded. The front month SRW prices were 2 3/4 to 3 3/4 cents higher at the close. KC HRW futures ended the day down by 2 to 3...

ZWN23 : 627-6s (+0.60%)
ZWU23 : 640-0s (+0.59%)
ZWPAES.CM : 5.7779 (+0.79%)
KEN23 : 820-2s (-0.24%)
KEPAWS.CM : 7.7921 (-0.47%)
MWN23 : 816-4s (-0.46%)
Soybeans Close Higher on Tuesday

After a back and forth session the soybean futures market ended Tuesday with gains. Beans were up 3 1/4 to 5 1/4 cents at the close. July futures printed a 23 3/4 cent range from -9 3/4 to +14. Soymeal...

ZSYAUS-BIW.CM : 50.64 (unch)
ZSN23 : 1353-2s (+0.24%)
ZSPAUS.CM : 13.2503 (+0.28%)
ZSQ23 : 1265-6s (+0.38%)
ZSU23 : 1193-2s (+0.38%)
Tuesday Gains for Corn Market

After a back and forth session, the corn futures market was in the black at the close. July futures were near the high for the day and ended with a 10 1/2 cent gain. The Dec contract traded within a 13...

ZCYAUS-BIW.CM : 177.92 (unch)
ZCN23 : 608-0s (+1.76%)
ZCPAUS.CM : 6.3751 (+1.56%)
ZCU23 : 534-4s (+0.80%)
ZCZ23 : 541-0s (+0.74%)
Grain Futures Prices Rally on Declining Crop Conditions

Grain futures prices rally on declining crop conditions. Hot and dry weather conditions throughout the Midwest continue to raise concerns over drought.

Shootin' the Bull about higher and higher cattle

Seemingly, the breaking of the consumers spending habit has been slow.  Gasoline prices remain elevated over diesel fuel, suggesting more consumer spending than business spending

Barchart’s Initial 2023 Crop Production and Yield Estimates Indicates Decreased Corn and Soybean Levels in Contrast to USDA

Today, Barchart released its initial 2023 Yield and Production forecasts for US corn and soybeans. The initial forecasts see end-of-season U.S. corn production at 15B bu with a yield of 177.9 bu/ac. This...

Wheat Market Giving Back AM Gains

The wheat market has slid into the red after digesting the Black Sea event through Tuesday. CBT SRW futures were up by as much as +20 cents in the front months, but are currently fractionally to 2 cents...

ZWN23 : 627-6s (+0.60%)
ZWU23 : 640-0s (+0.59%)
ZWPAES.CM : 5.7779 (+0.79%)
KEN23 : 820-2s (-0.24%)
KEPAWS.CM : 7.7921 (-0.47%)
MWN23 : 816-4s (-0.46%)
Soybeans Trading Fractionally Mixed through Midday

Front month soybean futures attempted a turnaround Tuesday bounce, but have backed off into midday. The current board is fractionally mixed with Nov 10 cents off the high and July off by 15 cents. Soymeal...

ZSYAUS-BIW.CM : 50.64 (unch)
ZSN23 : 1353-2s (+0.24%)
ZSPAUS.CM : 13.2503 (+0.28%)
ZSQ23 : 1265-6s (+0.38%)
ZSU23 : 1193-2s (+0.38%)
Corn Backs Off Into Midday

Corn futures were pushing higher for a turnaround Tuesday, but the market has slipped off its highs into midday. July is still up by 5 1/2 cents, 7 off the high, while the new crop prices are 2 to 3 1/4...

ZCYAUS-BIW.CM : 177.92 (unch)
ZCN23 : 608-0s (+1.76%)
ZCPAUS.CM : 6.3751 (+1.56%)
ZCU23 : 534-4s (+0.80%)
ZCZ23 : 541-0s (+0.74%)
3 Dividend Kings to Buy if Times Get Tough

The United States has yet to enter a recession, but even if we continue in this downturn or come out of it, these three Dividend Kings are top performers to consider.

MMM : 98.29 (+0.32%)
JNJ : 158.18 (-0.09%)
PG : 144.49 (-0.99%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 680-7
2nd Resistance Point 670-3
1st Resistance Point 655-1
Last Price 640-0s
1st Support Level 629-3
2nd Support Level 618-7
3rd Support Level 603-5

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52-Week High 1096-4
Fibonacci 61.8% 902-1
Fibonacci 50% 842-1
Fibonacci 38.2% 782-1
Last Price 640-0s
52-Week Low 587-6

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by Barchart
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