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Hard Red Wheat May '23 (KEK23)

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Hard Red Wheat Futures Market News and Commentary

Wheat Posting Double Digit Monday Morning Rally

The wheat complex is posting double digit gains of 14 to 19 cents across the three exchanges far on Monday morning. They posted weakness across the board on Friday. Chicago contracts were down 2 to 12 cents, led by the front months. Kansas City futures closed with contracts 4 ¼ to 11 ½ cents. MPLS spring wheat futures were down 7 ½ to 9 ¾ cents across the board.

The Kansas HRW Wheat Quality Tour saw tour average yield of 46.5 bpa. That is well above the 30 from last year and higher than the prior 5-year average of 42.4 bpa. The total production estimate for the KS crop was 290.4 mbu, well above the USDA’s 267.9 from last week.

The large managed money spec funds in Chicago wheat futures and options cut another 14,109 contracts from their net short position as of May 14 to 28,251 contracts. That was the smallest net short they have held since October 2022. In KC wheat, they cut 6,746 contracts from their net short to 17,267 contracts as of Tuesday. 

Russia’s Grain Un... Read more

Contract Specifications

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Contract
KC Hard 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
KCBT
Point Value
$50
Margin/Maintenance
$2,200/2,000
First Notice Date
04/28/23
Expiration Date
05/12/23 (expired)

Seasonal Chart

Hard Red Wheat May '23
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
105,944 (-1,291)
90,099 (+7,166)
Non-Commercials - Long / Short
55,634 (+3,468)
66,433 (-3,389)
Producers - Long / Short
37,834 (+183)
80,599 (+7,054)
Swap Dealers - Long / Short
60,045 (-1,712)
1,435 (-126)
Managed Money - Long / Short
38,824 (+2,482)
55,730 (-4,424)
Other Reportables - Long / Short
16,810 (+986)
10,703 (+1,035)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
769-4 +15.89%
on 04/27/23
932-4 -4.37%
on 05/10/23
+28-2 (+3.27%)
since 04/12/23
3-Month
769-4 +15.89%
on 04/27/23
932-4 -4.37%
on 05/10/23
-5-0 (-0.56%)
since 02/10/23
52-Week
769-4 +15.89%
on 04/27/23
1326-2 -32.76%
on 05/17/22
-344-4 (-27.87%)
since 05/12/22

More Hard Red Wheat Quotes

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Wheat Posting Double Digit Monday Morning Rally

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ZWU24 : 694-0 (+3.27%)
KEN24 : 683-6 (+3.32%)
KEU24 : 697-4 (+3.26%)
MWN24 : 727-6 (+2.28%)
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ZSN24 : 1231-6 (+0.31%)
SOYB : 25.52 (+0.28%)
ZCN24 : 456-2 (+0.83%)
CORN : 20.51 (+0.98%)
ZWN24 : 674-0 (+3.49%)
KEN24 : 683-6 (+3.32%)
WEAT : 6.29 (+3.28%)
CCN24 : 6,879 (-6.38%)
KCN24 : 204.55 (-0.99%)
TAGS : 28.15 (-0.60%)
DBA : 23.43 (-0.26%)
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ZLN24 : 45.62 (+0.77%)
ZSN24 : 1231-6 (+0.31%)
ZSPAUS.CM : 11.6999 (+0.32%)
ZSQ24 : 1228-6 (+0.29%)
ZSX24 : 1205-6 (+0.21%)
ZSPX24US.CM : 11.4407 (+0.22%)
Wheat Ends Friday with Double Digit Weakness

The wheat complex posted weakness across the board on Friday. Chicago contracts were down 2 to 12 cents, led by the front months. Kansas City futures closed with contracts 4 ¼ to 11 ½ cents. MPLS spring...

ZWN24 : 674-0 (+3.49%)
ZWU24 : 694-0 (+3.27%)
KEN24 : 683-6 (+3.32%)
KEU24 : 697-4 (+3.26%)
MWN24 : 727-6 (+2.28%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 891-6
2nd Resistance Point 891-6
1st Resistance Point 891-6
Last Price 891-6s
1st Support Level 891-6
2nd Support Level 891-6
3rd Support Level 891-6

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52-Week High 1326-2
Fibonacci 61.8% 1113-5
Fibonacci 50% 1047-7
Fibonacci 38.2% 982-1
Last Price 891-6s
52-Week Low 769-4

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