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Hard Red Wheat May '23 (KEK23)

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Hard Red Wheat Futures Market News and Commentary

Wheat Falls Lower on Monday

Wheat futures fell lower across the three exchanges on Monday, pressured by less than bullish USDA data.  Chicago SRW futures were 6 to 7 cents in the red on the Monday session.  Kansas City HRW futures were facing pressure with contracts closing with 9 to 10 cent losses. Minneapolis spring wheat futures closed the Monday session with losses of 9 to 10 cents.

The weekly Crop Progress update showed the spring wheat at 66% planted by Sunday, which is ahead of the 59% average pace. Emergence was tallied at 27%, 8 percentage points ahead of normal. Winter wheat was listed at 53% headed, faster than the 45% average pace. Conditions were tallied at 54% good/excellent, which was up 3% from the previous week. The Brugler500 index improved 4 points to 338.

Wheat production via the Crop Production report showed winter wheat at 1.382 billion bushel, with HRW at 784 mbu, SRW tallied at 345 mbu and white winter at 253 mbu. All wheat production shown in the WASDE was 1.921 billion bus... Read more

Contract Specifications

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Contract
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
CBOT
Point Value
$50
Margin/Maintenance
$2,090/1,900
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 6, 2025

View Chart Details
Commercials - Long / Short
129,565 (+2,768)
73,351 (-402)
Non-Commercials - Long / Short
62,450 (+213)
120,588 (+4,006)
Producers - Long / Short
45,383 (+838)
60,557 (-1,640)
Swap Dealers - Long / Short
77,040 (+590)
5,652 (-102)
Managed Money - Long / Short
41,229 (-1,008)
110,102 (+3,901)
Other Reportables - Long / Short
21,221 (+1,221)
10,486 (+105)
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

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Wheat Falls Lower on Monday

Wheat futures fell lower across the three exchanges on Monday, pressured by less than bullish USDA data. Chicago SRW futures were 6 to 7 cents in the red on the Monday session. Kansas City HRW futures...

KEN25 : 507-4 (-0.10%)
KEK25 : 498-2s (-1.63%)
MWK25 : 616-4s (unch)
ZWK25 : 499-0s (-1.29%)
ZWN25 : 512-6 (-0.49%)
Soybeans Rally on Tuesday Following Weekend Trade Talks and Friendly USDA Data

Soybeans closed out the Monday session with contracts rallying 20 to 27 cents. The cmdtyView Cash Bean price was up 19 3/4 cents to $10.60. Soymeal futures were up $3.90 to 4.90 so far on the day, with...

ZSPAUS.CM : 10.2004 (+1.97%)
ZLN25 : 49.87 (-0.10%)
ZMN25 : 299.0 (+0.30%)
ZSX25 : 1055-6 (-0.17%)
ZSK25 : 1066-0s (+2.11%)
ZSN25 : 1069-6 (-0.14%)
ZSPX25US.CM : 9.9390 (+2.79%)
Corn Pulls Back to Close Mixed Despite Bill Friendly USDA Data

Corn futures fell back from the higher post-USDA report trade on Monday, with nearbys slipping 1 to 2 cents. New crop contracts were 3 to 4 cents in the green at the close. The nearby CmdtyView national...

ZCZ25 : 445-6 (+0.06%)
ZCN25 : 447-0 (-0.22%)
ZCK25 : 440-2s (-0.28%)
ZCPZ25US.CM : 4.1198 (+0.85%)
ZCPAUS.CM : 4.1852 (-0.38%)
Grain Spreads: USDA Numbers Friendly Soy

Ending Stocks Reduced, Funds Noticed

Shootin' the Bull about profits and losses

Cattle feeders continue to see the best profit margin ever today, while having to replace with higher feeder cattle and input costs that project significant losses in the future, without further stupendous...

Crop Progress

Crop Progress - 2025-05-12

MWN25 : 583-4 (-0.09%)
ZSN25 : 1069-6 (-0.14%)
XBM25 : 192.50s (unch)
XEU25 : 64.50 (-0.12%)
SWQ25 : 495.00s (-0.98%)
ZSBAUS.CM : -0.5120 (+0.41%)
ZON25 : 340-6 (-1.52%)
ZRN25 : 12.590 (-0.16%)
MLU25 : 204.50s (+0.86%)
Y2K25 : 2,662s (unch)
ZCN25 : 447-0 (-0.22%)
ZCDAUS-BIW.CM : 15,671,136 (unch)
Wheat Extending Weakness Following Larger USDA Numbers

Wheat futures are extending the weakness into the new week, with contracts down across the three exchanges. Chicago SRW futures are posting Monday losses of 2 to 3 cents so far on the day. There were 5...

KEN25 : 507-4 (-0.10%)
KEK25 : 498-2s (-1.63%)
MWK25 : 616-4s (unch)
ZWK25 : 499-0s (-1.29%)
ZWN25 : 512-6 (-0.49%)
Corn Higher Following USDA Release

Corn futures are holding onto midday gains so far on Monday, with a friendlier than expected USDA report. Contracts are 2 to 5 cents higher. There were 12 deliveries issued against May on Friday night....

ZCZ25 : 445-6 (+0.06%)
ZCN25 : 447-0 (-0.22%)
ZCK25 : 440-2s (-0.28%)
ZCPZ25US.CM : 4.1198 (+0.85%)
ZCPAUS.CM : 4.1852 (-0.38%)
Soybeans Rallying on Easing Trade Tensions and Friendly USDA Data

Soybeans are rallying on Monday’s midday, with gains of 20 to 27 cents. There was just 1 delivery issued against May futures on Friday night. The cmdtyView Cash Bean price is up 50 1/2 cents to $10.21...

ZSPAUS.CM : 10.2004 (+1.97%)
ZLN25 : 49.87 (-0.10%)
ZMN25 : 299.0 (+0.30%)
ZSX25 : 1055-6 (-0.17%)
ZSK25 : 1066-0s (+2.11%)
ZSN25 : 1069-6 (-0.14%)
ZSPX25US.CM : 9.9390 (+2.79%)

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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