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Spring Wheat Mar '18 (MWH18)

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Spring Wheat Futures Market News and Commentary

Wheat Market News and Commentary

Wheat futures settled Wednesday with most contracts 3 to 5 1/4 cents higher. Most nearby winter wheat contracts closed within a penny of the high. Informa left their winter wheat planted acreage estimate at 31.513 million acres, with other spring wheat projected at 13.78 million acres. Japan is tendering for 102,057 MT of wheat from the US, Canada, and Australia, with the tender to close on Thursday and 53,195 MT sought from the US. Turkey is also seeking 300,000 MT of wheat, with the tender closing on Jan 30. Mar 19 CBOT Wheat closed at $5.26, up 4 3/4 cents,Mar 19 KCBT Wheat closed at $5.15, up 5 1/4 cents,Mar 19 MGEX Wheat closed at $5.75 1/2, up 3 1/2 cents--provided by Brugler Marketing & Management

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) CST
Exchange
MGEX
Point Value
$50
Margin/Maintenance
$1,560/1,200
First Notice Date
02/28/18
Expiration Date
03/14/18 (expired)

Seasonal Chart

Spring Wheat Mar '18
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Dec 18, 2018

View Chart Details
Commercials - Long / Short
31,857 (+617)
27,387 (+2,105)
Non-Commercials - Long / Short
13,604 (-470)
18,823 (-2,013)
Producers - Long / Short
29,975 (+515)
27,387 (+2,112)
Swap Dealers - Long / Short
1,882 (+109)
0 (unch)
Managed Money - Long / Short
8,215 (-463)
11,255 (-3,571)
Other Reportables - Long / Short
5,389 (-7)
7,568 (+1,558)
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Price Performance

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Period Period Low Period High Performance
1-Month
592-4 +5.19%
on 02/26/18
636-0 -2.00%
on 03/14/18
+23-0 (+3.83%)
since 02/14/18
3-Month
592-4 +5.19%
on 02/26/18
636-0 -2.00%
on 03/14/18
+6-2 (+1.01%)
since 12/14/17
52-Week
555-0 +12.30%
on 04/11/17
816-0 -23.62%
on 07/05/17
+55-2 (+9.73%)
since 03/14/17

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Most Recent Stories

More News
Wheat Market News and Commentary

Wheat futures settled Wednesday with most contracts 3 to 5 1/4 cents higher. Most nearby winter wheat contracts closed within a penny of the high. Informa left their winter wheat planted acreage estimate...

Soybeans Market News and Commentary

Soybean futures were up 5 to 6 cents in the front months on Wednesday. Dry and Hot conditions in Brazil are supportive to the market. Meal futures were down 10 cents/ton, with soy oil 32 point higher....

Corn Market News and Commentary

Corn futures ended the Wednesday session with most contracts steady to 1 1/2 cents higher as March was down 1/4 cent. The weekly EIA report showing ethanol production and stocks is delayed until Thursday...

Turner’s Take Podcast: January 23, 2019 | Total Factor Productivity

Informa came out with estimated acres and pegged soybeans at 86.2mm and corn at 91.5mm.  Based on the conversations I've had with farmers since the new year I tend to agree with these numbers.  91.5mm...

Soybeans Market News and Commentary

Soybean futures are showing gains of 3 to 4 1/2 cents in most contracts on Wednesday, after rumors of cancelled prep talks with China were denied. Meal futures are up 40 cents/ton, with soy oil 22 point...

Corn Market News and Commentary

Corn futures are steady to fractionally higher in most contracts at midday. The weekly EIA report showing ethanol production and stocks is delayed until Thursday due to Monday’s holiday. Informa...

Wheat Market News and Commentary

Wheat futures are mostly steady to 3 cents higher on Wednesday. Informa left their winter wheat planted acreage estimate at 31.513 million acres, with other spring wheat projected at 13.78 million acres....

Soybeans Market News and Commentary

Soybean futures are showing gains of 3 to 4 1/2 cents in most contracts on Wednesday, after rumors of cancelled prep talks with China were denied. Meal futures are up 40 cents/ton, with soy oil 22 point...

Corn Market News and Commentary

Corn futures are steady to fractionally higher in most contracts at midday. The weekly EIA report showing ethanol production and stocks is delayed until Thursday due to Monday’s holiday. Informa...

Wheat Market News and Commentary

Wheat futures are mostly steady to 3 cents higher on Wednesday. Informa left their winter wheat planted acreage estimate at 31.513 million acres, with other spring wheat projected at 13.78 million acres....

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 40% Buy with a Weakening short term outlook on maintaining the current direction.

Longer term, the trend strength is Average. Long term indicators mostly agree with the trend.

The market is approaching overbought territory. Be watchful of a trend reversal.

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Key Turning Points

2nd Resistance Point 640-2
1st Resistance Point 631-6
Last Price 623-2s
1st Support Level 619-0
2nd Support Level 614-6

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52-Week High 816-0
Fibonacci 61.8% 716-2
Fibonacci 50% 685-4
Fibonacci 38.2% 654-6
Last Price 623-2s
52-Week Low 555-0

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