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Spring Wheat Dec '18 (MWZ18)

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Spring Wheat Futures Market News and Commentary

Wheat Market News and Commentary

Wheat futures were a penny to 6 cents lower in most contracts on Friday, as Dec futures expired today. Wheat 18/19 export commitments are now just 9.5% behind this time last year. They are now 60% of USDA’s newly updated projection of 1 bbu, with the normal pace at 77%. Spec funds in KC wheat futures and options flipped back to a net long position by a move of 4,874 contracts as of Wednesday to a net long position of 2,429 contracts. They trimmed 6,005 contracts from their net short position in CBT wheat to take it to -22,402 contracts. Russia’s ag ministry estimates that the country’s 18/19 wheat crop totaled 70 MMT. BAGE estimates that Argentina’s wheat crop is now 75.2% mature, with harvest even with the average pace at 57.4%. They put condition @ 35.8% good/ex, compared to 63.9% good/ex last year.Mar 19 CBOT Wheat closed at $5.30, down 6 cents,Mar 19 KCBT Wheat closed at $5.18 1/4, down 1 3/4 cents,Mar 19 MGEX Wheat closed at $5.84, down 4 1/4 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
$1,690/1,300
First Notice Date
11/30/18
Expiration Date
12/14/18 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Dec 11, 2018

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Commercials - Long / Short
31,240 (+645)
25,282 (+1,309)
Non-Commercials - Long / Short
14,074 (-185)
20,836 (-472)
Producers - Long / Short
29,460 (+752)
25,275 (+1,302)
Swap Dealers - Long / Short
1,773 (-114)
0 (unch)
Managed Money - Long / Short
8,678 (-116)
14,826 (-240)
Other Reportables - Long / Short
5,396 (-69)
6,010 (-232)
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Price Performance

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Period Period Low Period High Performance
1-Month
567-0 +2.38%
on 11/29/18
590-6 -1.74%
on 12/03/18
+4-4 (+0.78%)
since 11/14/18
3-Month
565-6 +2.61%
on 10/31/18
602-2 -3.61%
on 10/15/18
+8-2 (+1.44%)
since 09/14/18
52-Week
542-2 +7.05%
on 07/12/18
660-4 -12.11%
on 05/29/18
-53-2 (-8.40%)
since 12/14/17

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Most Recent Stories

More News
Wheat Market News and Commentary

Wheat futures were a penny to 6 cents lower in most contracts on Friday, as Dec futures expired today. Wheat 18/19 export commitments are now just 9.5% behind this time last year. They are now 60% of USDA’s...

Corn Market News and Commentary

Corn futures ended the Friday session with most contracts steady to 1/2 cent higher, as Dec expired at $3.76 3/4. USDA reported a private export sale of 125,000 MT of corn to Japan this morning. Corn export...

Soybeans Market News and Commentary

Soybean futures closed Friday with losses of 6 to 6 3/4 cents, despite another export sale to China. Dec soy meal expired at $309.40/ton, with soy oil at 28.39 cents/lb. Separate soybean export sales of...

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Corn Market News and Commentary

Corn futures are trading 1 to 1 3/4 cents higher at midday, with expiring Dec up 2 3/4. USDA reported a private export sale of 125,000 MT of corn to Japan this morning. Corn export commitments through...

Soybeans Market News and Commentary

Soybean futures are trading 3 to 4 cents lower on Friday. Dec soy meal is down $1.40/ton, with soy oil 16 points lower, as both nearby contracts expire today. Separate soybean export sales of 300,000 MT...

Wheat Market News and Commentary

Wheat futures are showing 3 to 4 1/4 cent losses in most CBT contracts, with KC and MPLS mostly steady to a penny higher. Dec futures expire today. Wheat 18/19 export commitments are now just 9.5% behind...

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Barchart Technical Opinion

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

Longer term, the trend strength is Weak. Long term indicators fully support a continuation of the trend.

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Key Turning Points

2nd Resistance Point 583-4
1st Resistance Point 582-0
Last Price 580-4s
1st Support Level 579-6
2nd Support Level 579-0

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52-Week High 660-4
Fibonacci 61.8% 615-3
Fibonacci 50% 601-3
Fibonacci 38.2% 587-3
Last Price 580-4s
52-Week Low 542-2

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InsideFutures Commentary

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