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Spring Wheat Jul '22 (MWN22)

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Spring Wheat Futures Market News and Commentary

Wheat Closes Lower After Hitting 10-Month Highs

The wheat complex posted early strength on Wednesday, but quickly faded off for losses at the close. Chicago contracts hit a 10-month high in the front month continuation chart overnight, but posted losses of 4 ½ to 7 ¾ cents. Kansas City futures were down 2 to 4 ½ cents on the day. MPLS spring wheat saw contracts close with 2 to 4 ¼ cent lower trade.  

All wheat export sales for the 23/24 MY are expected to be between net reductions of 100,000 MT to net sales of 100,000 MT in the week of 5/16 as we get set to round out the MY. Sales for the 24/25 crop are seen ranging from 200,000-650,000 MT.

The 7-day outlook from NOAA shows much of the Southern Plains expected to remain dry for the next week, with a good part of the SRW country receiving 1-3 inches. 

Jul 24 CBOT Wheat  closed at $6.93, down 4 1/2 cents,

Sep 24 CBOT Wheat  closed at $7.12 3/4, down 4 3/4 cents,

Jul 24 KCBT Wheat  closed at $6.99 1/2, down 2 cents,

Sep 24 KCBT Wheat  closed at $7... Read more

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) (Settles 1:30p.m.) CST
Exchange
MGEX
Point Value
$50
Margin/Maintenance
$2,420/2,200
First Notice Date
06/30/22
Expiration Date
07/14/22 (expired)

Seasonal Chart

Spring Wheat Jul '22
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
24,819 (+374)
26,696 (+4,591)
Non-Commercials - Long / Short
12,309 (+590)
7,248 (-4,628)
Producers - Long / Short
20,917 (+399)
26,318 (+4,795)
Swap Dealers - Long / Short
3,583 (+109)
59 (-70)
Managed Money - Long / Short
9,544 (+945)
6,771 (-4,838)
Other Reportables - Long / Short
2,765 (-355)
477 (+210)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
853-4 +3.93%
on 07/06/22
1218-2 -27.19%
on 06/16/22
-321-4 (-26.60%)
since 06/14/22
3-Month
853-4 +3.93%
on 07/06/22
1412-6 -37.21%
on 05/17/22
-259-6 (-22.65%)
since 04/14/22
52-Week
824-0 +7.65%
on 07/15/21
1412-6 -37.21%
on 05/17/22
+68-4 (+8.37%)
since 07/14/21

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KCN24 : 220.45s (+1.50%)
KCU24 : 219.25s (+1.50%)
KCZ24 : 217.90s (+1.49%)
RMN24 : 3,917s (+4.90%)
RMU24 : 3,844s (+4.66%)
RMX24 : 3,738s (+4.12%)
Wheat Closes Lower After Hitting 10-Month Highs

The wheat complex posted early strength on Wednesday, but quickly faded off for losses at the close. Chicago contracts hit a 10-month high in the front month continuation chart overnight, but posted losses...

ZWN24 : 694-4 (+0.22%)
ZWU24 : 714-0 (+0.18%)
KEN24 : 701-4 (+0.29%)
KEU24 : 715-4 (+0.25%)
MWN24 : 739-4 (+0.41%)
Soybeans Rally for Midweek Gains, Helped by Meal

Soybeans turned back higher on Wednesday, with contracts up 4 to 10 cents across most months led by the nearbys. Soymeal futures were up $2 to $5.90/ton across most contracts on the midweek session. Soy...

ZMN24 : 378.5 (+0.08%)
ZLN24 : 45.69 (-0.41%)
ZSN24 : 1244-4 (-0.14%)
ZSPAUS.CM : 11.8570 (+0.88%)
ZSQ24 : 1241-4 (-0.14%)
ZSX24 : 1218-0 (-0.02%)
ZSPX24US.CM : 11.5675 (+0.46%)
Corn Closes Higher, EIA Reports Increased Ethanol Output

Corn futures ended the Wednesday session with contracts showing fractional to 3 ¼ cent gains. June serial options expire against the July contract on Friday. The weekly EIA petroleum report showed 1.019...

ZCN24 : 461-4 (+0.05%)
ZCPAUS.CM : 4.3787 (+0.78%)
ZCU24 : 470-4 (+0.05%)
ZCZ24 : 484-2 (+0.05%)
ZCPZ24US.CM : 4.5394 (+0.35%)
Cattle Market Rallies on Strong Cash

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Grain Spreads: Moving Average Cross Coming in Beans?

Old Crop Surges, Will the Bull Continue to be Fed?

Shootin' the Bull about breaking triangles and further rationing

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Soybeans Pushing Back Higher on Midweek Trade

Soybeans are trading with midday gains of 6 to 10 ¼ cents on Wednesday. Soymeal are up $3.10/ton in the front months. Soy Oil is also trading higher, with 71 point gains in July at midday. Weekly Export...

ZMN24 : 378.5 (+0.08%)
ZLN24 : 45.69 (-0.41%)
ZSN24 : 1244-4 (-0.14%)
ZSPAUS.CM : 11.8570 (+0.88%)
ZSQ24 : 1241-4 (-0.14%)
ZSX24 : 1218-0 (-0.02%)
ZSPX24US.CM : 11.5675 (+0.46%)
Wheat Pulls Back After Hitting 10-Month High

The wheat complex is pulling back at midday despite early strength. Chicago contracts hit a 10-month high in the front month continuation chart overnight, but are now down 1 to 2 cents. Kansas City futures...

ZWN24 : 694-4 (+0.22%)
ZWU24 : 714-0 (+0.18%)
KEN24 : 701-4 (+0.29%)
KEU24 : 715-4 (+0.25%)
MWN24 : 739-4 (+0.41%)
Corn Posting Gains, As EIA Reports Increases Ethanol Output

Corn futures are trading with 2 to 4 cent gains on Wednesday, following positive EIA data. The weekly EIA petroleum report showed 1.019 million barrels per day in ethanol production during the week that...

ZCN24 : 461-4 (+0.05%)
ZCPAUS.CM : 4.3787 (+0.78%)
ZCU24 : 470-4 (+0.05%)
ZCZ24 : 484-2 (+0.05%)
ZCPZ24US.CM : 4.5394 (+0.35%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 887-0
2nd Resistance Point 887-0
1st Resistance Point 887-0
Last Price 887-0s
1st Support Level 887-0
2nd Support Level 887-0
3rd Support Level 887-0

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52-Week High 1412-6
Fibonacci 61.8% 1187-7
Fibonacci 50% 1118-3
Fibonacci 38.2% 1048-7
Last Price 887-0s
52-Week Low 824-0

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