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Wheat Sep '23 (ZWU23)

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Wheat Futures Market News and Commentary

Wheat Continues Pattern of Fading Overnight Gains for Midday Weakness

The wheat complex is posting midday weakness again on Friday. Chicago contracts are down 7 to 12 cents across most contracts. Kansas City futures are trading with losses of 8 to 13 cents in most months. MPLS spring wheat is down 8 to 9 ¾ cents.

The final day of the Kansas HRW Wheat Quality Tour was Thursday with a 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.

Export Sales data showed all old crop wheat sales totaling 78,459 MT in the week that ended on May 9, on the high side of what was expected. New crop wheat bookings were tallied at 304,321 MT on the low side of estimates and down 25.04% from the week prior. The Philippines was the top buyer of 122,000 MT, with 50,000 MT sold to Yemen and 46,600 MT to Japan.

Jul 24 CBOT Wheat  is at $6.51 3/4, down 11 3/4 cents,

Sep 24 CBO... 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
$2,200/2,000
First Notice Date
08/31/23
Expiration Date
09/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of May 7, 2024

View Chart Details
Commercials - Long / Short
135,193 (+2,429)
108,188 (+7,986)
Non-Commercials - Long / Short
122,686 (+1,797)
140,471 (-4,874)
Producers - Long / Short
43,305 (-386)
79,154 (+5,762)
Swap Dealers - Long / Short
70,250 (+546)
7,396 (-45)
Managed Money - Long / Short
79,301 (+805)
123,848 (-4,277)
Other Reportables - Long / Short
43,385 (+992)
16,623 (-597)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
548-0 +3.56%
on 09/12/23
620-6 -8.58%
on 08/21/23
-48-4 (-7.87%)
since 08/14/23
3-Month
548-0 +3.56%
on 09/12/23
777-2 -26.99%
on 07/25/23
-73-6 (-11.50%)
since 06/14/23
52-Week
548-0 +3.56%
on 09/12/23
942-6 -39.80%
on 10/10/22
-323-6 (-36.33%)
since 09/14/22

More Wheat Quotes

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Most Recent Stories

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ZSPX24US.CM : 11.4157 (+0.38%)
Wheat Continues Pattern of Fading Overnight Gains for Midday Weakness

The wheat complex is posting midday weakness again on Friday. Chicago contracts are down 7 to 12 cents across most contracts. Kansas City futures are trading with losses of 8 to 13 cents in most months....

ZWN24 : 651-2s (-1.81%)
ZWU24 : 672-0s (-1.68%)
KEN24 : 661-6s (-1.71%)
KEU24 : 675-4s (-1.67%)
MWN24 : 711-4s (-1.28%)
Corn Round Out the Week with Midday Friday Weakness

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ZCPAUS.CM : 4.2836 (-1.05%)
ZCU24 : 462-4s (-1.12%)
ZCZ24 : 476-4s (-1.09%)
ZCPZ24US.CM : 4.4656 (-1.23%)
European Commodities: Cocoa Prices Are Crashing, But Not on Fundamentals

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Coca-Cola Stock: Is Wall Street Bullish or Bearish?

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Can Grain Futures Prices Rally ahead of the Weekend?

Grain futures prices are higher in the early morning trade, will we see that rally continue through today’s trade and into the weekend on the back of weather uncertainty?

Wheat Reverting Back to Higher After Overnight Trade

The wheat complex is trading with strength on your Friday morning. They found weakness again on Thursday, quickly fading the early session gains. Chicago contracts were down 2 to 3 cents across most contracts....

ZWN24 : 651-2s (-1.81%)
ZWU24 : 672-0s (-1.68%)
KEN24 : 661-6s (-1.71%)
KEU24 : 675-4s (-1.67%)
MWN24 : 711-4s (-1.28%)
Corn Round Out Friday Morning With Gains

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ZCN24 : 452-4s (-0.98%)
ZCPAUS.CM : 4.2836 (-1.05%)
ZCU24 : 462-4s (-1.12%)
ZCZ24 : 476-4s (-1.09%)
ZCPZ24US.CM : 4.4656 (-1.23%)
Soybeans Rallying on Friday Morning

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ZMN24 : 368.8s (+0.30%)
ZLN24 : 45.27s (+1.68%)
ZSN24 : 1228-0s (+0.97%)
ZSPAUS.CM : 11.6613 (+1.06%)
ZSQ24 : 1225-2s (+0.70%)
ZSX24 : 1203-2s (+0.35%)
ZSPX24US.CM : 11.4157 (+0.38%)
Soybeans, Hanging In There And What Matters

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 567-4
2nd Resistance Point 567-4
1st Resistance Point 567-4
Last Price 567-4s
1st Support Level 567-4
2nd Support Level 567-4
3rd Support Level 567-4

See More

52-Week High 942-6
Fibonacci 61.8% 792-0
Fibonacci 50% 745-3
Fibonacci 38.2% 698-6
Last Price 567-4s
52-Week Low 548-0

See More

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