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Spring Wheat May '23 (MWK23)

832-0s +8-4 (+1.03%) 05/12/23 [MIAX]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Fri, May 12th, 2023
Day Low
832-0
Day High
832-0
Open 0-0
Previous Close 823-4 823-4
Volume 0 0
Open Interest 0 0
Stochastic %K 74.34% 74.34%
Weighted Alpha -31.81 -31.81
5-Day Change +10-4 (+1.28%) +10-4 (+1.28%)
52-Week Range 758-2 - 1358-6 758-2 - 1358-6
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Spring Wheat Futures Market News and Commentary

Wheat Rally Resuming on Monday AM Trade

The wheat market is trading with double digit winter wheat gains on Monday morning, supported by some increased geopolitical tensions. Wheat closed Friday’s trade with mixed action in the winter wheats, as the spring wheat held higher. Chicago SRW futures were steady to 2 cents lower, as July slipped back 8 ½ cents from last Friday. Kansas City HRW contracts closed with 1 to 2 cents gains, as nearby July was down 5 ½ cents last week. Minneapolis spring wheat futures posted another round of 9 to 10 cent gains, as July was up 9 cents last week. 

Over the weekend, Ukraine attacked a Russian airbase, striking 40 Russian planes, mostly strategic bombers. While the market has been avoiding much out of the Black Sea region conflict, there may be some premium put back in the market via some headline news short covering.

Friday’s Export Sales report showed 128,797 MT in net reductions for 2024/25 wheat. New crop was tallied at 711,368 MT, which was a 3-week low. Unknown destinati... 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 1:15p.m.) CST
Exchange
MIAX
Point Value
$50
Margin/Maintenance
$1,870/1,700
First Notice Date
04/28/23
Expiration Date
05/12/23 (expired)

Seasonal Chart

Spring Wheat May '23
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of May 27, 2025

View Chart Details
Commercials - Long / Short
46,765 (-1,568)
22,496 (+3,563)
Non-Commercials - Long / Short
15,279 (+3,502)
42,799 (-2,309)
Producers - Long / Short
42,368 (-1,103)
20,809 (+3,193)
Swap Dealers - Long / Short
3,880 (-332)
1,170 (+503)
Managed Money - Long / Short
11,440 (+2,437)
41,993 (-1,150)
Other Reportables - Long / Short
3,839 (+1,065)
806 (-1,159)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
758-2 +9.73%
on 05/02/23
Period Open: 860-0
895-4 -7.09%
on 04/18/23
-28-0 (-3.26%)
since 04/12/23
3-Month
758-2 +9.73%
on 05/02/23
Period Open: 923-0
928-4 -10.39%
on 02/21/23
-91-0 (-9.86%)
since 02/10/23
52-Week
758-2 +9.73%
on 05/02/23
Period Open: 1279-4
1358-6 -38.77%
on 05/17/22
-447-4 (-34.97%)
since 05/12/22

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 832-0
2nd Resistance Point 832-0
1st Resistance Point 832-0
Last Price 832-0s
1st Support Level 832-0
2nd Support Level 832-0
3rd Support Level 832-0

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52-Week High 1358-6
Fibonacci 61.8% 1129-3
Fibonacci 50% 1058-4
Fibonacci 38.2% 987-5
Last Price 832-0s
52-Week Low 758-2

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