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Spring Wheat Sep '17 (MWU17)

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Spring Wheat Futures Market News and Commentary

Wheat Lower on the Midweek Session

The wheat market is trading lower on Wednesday. Kansas City is leading the way with losses of 6 to 8 cents cents and in delivery May down 1 ¾.  Chicago contracts are down 4 to 6 cents across the nearbys. MPLS spring wheat is steady to 2 ½ cents lower across the board.

Delivery notices vs. May CBT wheat slowed down, to 678 contracts, of which Dorman Trading customers stopped 617.  There were again zero deliveries against KC May. 

The 7-day QPF from NOAA shows some precip making its way further into some western portions of the Plains that have thus far remained dry. 

The weekly Export Sales report will be release on Thursday morning, with traders expecting a range of net reductions of 100,000 MT to net sales fo 100,000 MT for old crop. In the week that ended on 4/25, new crop sales are estimated in a range of 200,000 to 600,000 MT. 

May 24 CBOT Wheat  is at $5.79, down 6 cents,

Jul 24 CBOT Wheat  is at $5.99, down 4 1/4 cents,

May 24 KCBT Wheat  is... 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
$2,750/2,500
First Notice Date
08/31/17
Expiration Date
09/14/17 (expired)

Seasonal Chart

Spring Wheat Sep '17
Average Price Chart for 5 Prior Sep Contracts

Commitment of Traders Positions as of Apr 23, 2024

View Chart Details
Commercials - Long / Short
35,504 (-4,014)
13,870 (-1,846)
Non-Commercials - Long / Short
12,240 (+940)
34,158 (-534)
Producers - Long / Short
32,579 (-4,030)
13,655 (-1,518)
Swap Dealers - Long / Short
2,710 (+31)
N/A (-313)
Managed Money - Long / Short
8,852 (+318)
33,442 (-703)
Other Reportables - Long / Short
3,388 (+622)
716 (+169)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
609-6 +1.35%
on 09/05/17
681-0 -9.25%
on 08/16/17
-52-0 (-7.76%)
since 08/14/17
3-Month
609-6 +1.35%
on 09/05/17
868-4 -28.84%
on 07/05/17
-16-4 (-2.60%)
since 06/14/17
52-Week
527-0 +17.27%
on 09/27/16
868-4 -28.84%
on 07/05/17
+86-2 (+16.22%)
since 09/14/16

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Wheat Lower on the Midweek Session

The wheat market is trading lower on Wednesday. Kansas City is leading the way with losses of 6 to 8 cents cents and in delivery May down 1 ¾. Chicago contracts are down 4 to 6 cents across the nearbys....

ZWK24 : 581-4s (-0.60%)
ZWN24 : 599-2s (-0.66%)
KEK24 : 625-4s (+0.44%)
KEN24 : 625-0s (-1.61%)
MWK24 : 702-4s (-1.09%)
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Wheat Mixed on Wednesday Morning

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ZWN24 : 599-2s (-0.66%)
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MWK24 : 702-4s (-1.09%)
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ZMN24 : 349.0s (-0.82%)
ZLN24 : 43.26s (+0.58%)
ZSK24 : 1155-6s (+0.89%)
ZSPAUS.CM : 11.0878 (+0.73%)
ZSN24 : 1170-2s (+0.62%)
ZSX24 : 1165-0s (+0.47%)
ZSPX24US.CM : 11.0326 (+0.39%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 629-0
1st Resistance Point 623-4
Last Price 618-0s
1st Support Level 615-2
2nd Support Level 612-4
3rd Support Level N/A

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52-Week High 868-4
Fibonacci 61.8% 738-0
Fibonacci 50% 697-6
Fibonacci 38.2% 657-4
Last Price 618-0s
52-Week Low 527-0

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