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Hard Red Wheat May '23 (KEK23)

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Hard Red Wheat Futures Market News and Commentary

Wheat Held Higher on Thursday

The wheat complex saw the bulls holding up on Thursday. Chicago contracts were up ¾ to 3 ¾ cents on the day. Kansas City futures closed with gains of 3 to 3 ¾ cents across most contracts. MPLS spring wheat futures were steady to 8 ½ cents higher across the board.

Export Sales data showed old crop wheat sales at 41,073 MT as the we enter the last week of the MY. Bookings for new crop were slightly below the previous week at 405,959 MT in the week of May 2. The top buyer was Mexico of 123,200 MT, with 121,900 MT sold to Panama.

Ahead of the USDA reports on Friday, the 23/24 US wheat ending stocks total is expected to be left pretty much unch, with the average trade guess down 3 mbu to 695 mbu. New crop production is pegged at 1.894 bbu on average, as the carryout for 24/25 is seen at 782 mbu. On the world side, the stocks projection is expected to be cut 1.1 MMT to 257.2 MMT, with the 24/25 total estimated to be at the same 257.2 MMT.

Japan purchased 114,077 MT of wh... 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 Apr 30, 2024

View Chart Details
Commercials - Long / Short
108,604 (-10,623)
78,919 (-641)
Non-Commercials - Long / Short
52,296 (-7,290)
75,653 (-22,463)
Producers - Long / Short
37,896 (-3,807)
68,776 (+1,639)
Swap Dealers - Long / Short
62,443 (-4,090)
1,878 (+446)
Managed Money - Long / Short
36,504 (-4,396)
65,856 (-22,858)
Other Reportables - Long / Short
15,792 (-2,894)
9,797 (+395)
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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Most Recent Stories

More News
Corn Squares Up Ahead of USDA Report

Corn futures closed out the Pre-WASDE trade session with contracts down 1 to 2 ¾ cents across most contracts. A few deferreds were steady to 1 ¼ cents higher. USDA issued a flash sale of 132,080 MT of...

ZCK24 : 443-4 (+0.17%)
ZCPAUS.CM : 4.3347 (-0.47%)
ZCN24 : 458-0 (+0.33%)
ZCZ24 : 481-2 (+0.26%)
ZCPZ24US.CM : 4.5071 (-0.23%)
Wheat Held Higher on Thursday

The wheat complex saw the bulls holding up on Thursday. Chicago contracts were up ¾ to 3 ¾ cents on the day. Kansas City futures closed with gains of 3 to 3 ¾ cents across most contracts. MPLS spring...

ZWK24 : 619-6s (+0.61%)
ZWN24 : 642-4 (+0.78%)
KEK24 : 675-6s (+2.66%)
KEN24 : 655-6 (+0.61%)
MWK24 : 708-2s (unch)
Soybeans Drops into Thursday Close

Soybeans headed lower on Thursday, with contracts down 7 ¼ to 20 cents across the board, as the 2024 contracts held up at or above $12. Soymeal futures were down on the day, as contracts fell $1.70 to...

ZMN24 : 372.5 (-0.11%)
ZLN24 : 42.83 (+0.45%)
ZSK24 : 1192-6s (-1.65%)
ZSPAUS.CM : 11.4627 (-1.69%)
ZSN24 : 1208-6 (+0.02%)
ZSX24 : 1199-2 (-0.10%)
ZSPX24US.CM : 11.3882 (-1.11%)
Shootin' the Bull about definitive moves in feeders

A definitive move in the feeder cattle futures today is believed to have set the stage for further declines.  On the mid day cattle commentary, I noted a close above $255.22, or under $251.75 August,...

Wheat Pulling Away From Highs, Still Holding Midday Gains

The wheat complex has pulled back from the double digit strength we was earlier in the session but is still higher at midday. Chicago contracts are up 2 to 6 cents so far on the day. Kansas City futures...

ZWK24 : 619-6s (+0.61%)
ZWN24 : 642-4 (+0.78%)
KEK24 : 675-6s (+2.66%)
KEN24 : 655-6 (+0.61%)
MWK24 : 708-2s (unch)
Soybeans Threating to Pull Back Below $12

Soybeans are struggling on Thursday, as contracts are down 10 to 17 cents at midday, and November threating the slip below $12. Soymeal futures are down $3.90 to $4.10/ton. Soy Oil is also falling at midday,...

ZMN24 : 372.5 (-0.11%)
ZLN24 : 42.83 (+0.45%)
ZSK24 : 1192-6s (-1.65%)
ZSPAUS.CM : 11.4627 (-1.69%)
ZSN24 : 1208-6 (+0.02%)
ZSX24 : 1199-2 (-0.10%)
ZSPX24US.CM : 11.3882 (-1.11%)
Corn Continues Weakness at Midday

Corn is continuing the corrective action on Thursday, as contracts are down fractionally to 3 ents across the front months at midday. There were 364 contracts issued vs. May corn delivery overnight, with...

ZCK24 : 443-4 (+0.17%)
ZCPAUS.CM : 4.3347 (-0.47%)
ZCN24 : 458-0 (+0.33%)
ZCZ24 : 481-2 (+0.26%)
ZCPZ24US.CM : 4.5071 (-0.23%)
Wheat Back to Heading Higher on Russia Frost Fears

The wheat complex is posting double digit gains across most contracts this morning. Wheat saw selling across all three markets on Wednesday. Chicago wheat contracts were down 8 ¼ to 9 ½ cents on the...

ZWK24 : 619-6s (+0.61%)
ZWN24 : 642-4 (+0.78%)
KEK24 : 675-6s (+2.66%)
KEN24 : 655-6 (+0.61%)
MWK24 : 708-2s (unch)
Soybeans Down To Start Thursday

Soybeans are posting lower trade on Thursday morning with contracts down 3 to 5 cents. Bulls took a breather on Wednesday, as contracts were down 9 ¼ to 19 ½ cents across the board. Soymeal also pulled...

ZMN24 : 372.5 (-0.11%)
ZLN24 : 42.83 (+0.45%)
ZSK24 : 1192-6s (-1.65%)
ZSPAUS.CM : 11.4627 (-1.69%)
ZSN24 : 1208-6 (+0.02%)
ZSX24 : 1199-2 (-0.10%)
ZSPX24US.CM : 11.3882 (-1.11%)
Corn Slipping Lower Ahead of Export Sales Data

Corn is trading fractionally to a penny lower ahead of this morning’s Export Sales report. Futures pulled back on Wednesday after a couple weeks of rallying and with a USDA report on the horizon tomorrow....

ZCK24 : 443-4 (+0.17%)
ZCPAUS.CM : 4.3347 (-0.47%)
ZCN24 : 458-0 (+0.33%)
ZCZ24 : 481-2 (+0.26%)
ZCPZ24US.CM : 4.5071 (-0.23%)

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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