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Hard Red Wheat May '24 (KEK24)

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Hard Red Wheat Futures Market News and Commentary

Wheat Pulling on Thursday

The wheat complex is heading lower at midday. They again quickly faded the early session gains today. Chicago contracts are down 5 to 8 cents across the front months.  Kansas City futures are steady to 5 cents lower. MPLS spring wheat is trading with 3 to 6 cent losses.

The second day of the Kansas HRW Wheat Quality Tour showed an average yield of 42.4 bpa. That is well above the 27.6 from last year and higher than the prior 3-year average of 40.4 bpa. That took the 2-day average to 45.8 bpa, a three year high. The tour also estimated the OK crop at 33.68 bpa, with production totaling 89.27 mbu, vs the 96.2 mbu estimate from USDA last week.

Export Sales data from this morning 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... 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
04/30/24
Expiration Date
05/14/24 (expired)

Seasonal Chart

Hard Red Wheat May '24
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of May 7, 2024

View Chart Details
Commercials - Long / Short
107,235 (-1,369)
82,933 (+4,014)
Non-Commercials - Long / Short
52,166 (-130)
69,822 (-5,831)
Producers - Long / Short
37,651 (-245)
73,545 (+4,769)
Swap Dealers - Long / Short
61,757 (-686)
1,561 (-317)
Managed Money - Long / Short
36,342 (-162)
60,154 (-5,702)
Other Reportables - Long / Short
15,824 (+32)
9,668 (-129)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
572-2 +26.52%
on 04/18/24
724-0 unch
on 05/14/24
+134-2 (+22.76%)
since 04/12/24
3-Month
551-4 +31.28%
on 03/06/24
724-0 unch
on 05/14/24
+140-0 (+23.97%)
since 02/14/24
52-Week
551-4 +31.28%
on 03/06/24
918-0 -21.13%
on 07/25/23
-101-4 (-12.30%)
since 05/12/23

More Hard Red Wheat Quotes

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Most Recent Stories

More News
Corn Futures Test Significant Support, Will it Hold?

Corn futures have been under pressure for the last three sessions after failing against resistance to start the week. Will support hold into the weekend or will the selling persist?

Wheat Pulling on Thursday

The wheat complex is heading lower at midday. They again quickly faded the early session gains today. Chicago contracts are down 5 to 8 cents across the front months. Kansas City futures are steady to...

ZWN24 : 663-2s (-0.38%)
ZWU24 : 683-4s (-0.36%)
KEN24 : 673-2s (-0.26%)
KEU24 : 687-0s (-0.25%)
MWN24 : 720-6s (-0.86%)
Corn Slips from Higher Early Trade Again on Thursday

Corn futures are hitting the copy/paste button on the Thursday trade, as future are again fading the early session gains. Midday losses are totaling 4 to 7 cents as a planting window is open of areas across...

ZCN24 : 457-0s (-1.19%)
ZCPAUS.CM : 4.3296 (-1.42%)
ZCU24 : 467-6s (-1.16%)
ZCZ24 : 481-6s (-1.08%)
ZCPZ24US.CM : 4.5210 (-1.27%)
Soybeans Sticking Closer to Even Following Lackluster Export Sales Data

Soybeans are slipping lower on Thursday following dull Export Sales data. Contracts are steady to 4 cents lower in the nearbys, with July slightly higher. Soymeal futures are down $1.70 to $2.30/ton. Soy...

ZMN24 : 367.7s (-1.08%)
ZLN24 : 44.52s (+2.23%)
ZSN24 : 1216-2s (+0.23%)
ZSPAUS.CM : 11.5386 (+0.27%)
ZSQ24 : 1216-6s (+0.04%)
ZSX24 : 1199-0s (-0.17%)
ZSPX24US.CM : 11.3719 (-0.18%)
No Bull | The Five Spot

#5 | Big Bushels U.S. corn yields haven't hit/exceeded so-called trend (USDA’s initial print) since 2018 and although 2023 was a record-high yield at 177.3 - it fell well-below the 181.5 trend. In four...

Did yesterday’s selloff change the technical picture for corn?

Corn futures were under pressure the last few days, but was it enough to cause technical damage or is the trend still intact?

Soybeans Slightly Higher to Begin Thursday

Soybeans are posting fractional to 2 cent higher trade on Thursday morning. They slipped into the close, as contracts settled with losses of a penny to 4 ¾ cents after NOPA reported an ugly April crush...

ZMN24 : 367.7s (-1.08%)
ZLN24 : 44.52s (+2.23%)
ZSN24 : 1216-2s (+0.23%)
ZSPAUS.CM : 11.5386 (+0.27%)
ZSQ24 : 1216-6s (+0.04%)
ZSX24 : 1199-0s (-0.17%)
ZSPX24US.CM : 11.3719 (-0.18%)
Corn Back to Higher Trade on Thursday AM

Corn is trading 1 to 2 cents higher ahead of this morning’s Export Sales report. Futures faded the early gains on Wednesday, with contracts closing anywhere from 2 1/4 to 5 cents lower after July futures...

ZCN24 : 457-0s (-1.19%)
ZCPAUS.CM : 4.3296 (-1.42%)
ZCU24 : 467-6s (-1.16%)
ZCZ24 : 481-6s (-1.08%)
ZCPZ24US.CM : 4.5210 (-1.27%)
Wheat Reverting Higher on Thursday Morning

The wheat complex is heading higher across all three exchanges this morning. They quickly faded from the early double digit gains as losses were reported across the three exchanges on Wednesday. Chicago...

ZWN24 : 663-2s (-0.38%)
ZWU24 : 683-4s (-0.36%)
KEN24 : 673-2s (-0.26%)
KEU24 : 687-0s (-0.25%)
MWN24 : 720-6s (-0.86%)
Grain Markets: Will Global Production Issues Continue to Push Wheat Prices Higher?

In my interview today with Michelle Rook on AgWeb's Markets Now I spoke about the recent move higher in wheat, soybean, and corn prices. I also discussed crude oil, interest rates, and the cattle markets....

ZWK24 : 657-0s (-1.98%)
ZSN24 : 1216-2s (+0.23%)
ZCK24 : 453-6s (-1.04%)
LEM24 : 179.025s (+0.43%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 724-0
2nd Resistance Point 724-0
1st Resistance Point 724-0
Last Price 724-0s
1st Support Level 724-0
2nd Support Level 724-0
3rd Support Level 724-0

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52-Week High 918-0
Fibonacci 61.8% 778-0
Fibonacci 50% 734-6
Last Price 724-0s
Fibonacci 38.2% 691-4
52-Week Low 551-4

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