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Wheat Pit Sep '17 (WU17)

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Wheat (Pit) Futures Market News and Commentary

Wheat Drops with Wednesday Weakness

The wheat markets closed the Wednesday with contracts heading towards the lows. Chicago futures were down 4 ¾ to 12 ¾ cents. Kansas City posted losses of 8 ¾ to 14 ¾ cents at the close. MPLS was the firmest of the three exchanges, but still lost 2 to 6 cents. 

While there isn’t much in NOAA’s 7-day QPF for Plains moisture, CPC’s 8-14 day outlook shows above normal odds for precip across much of the US for the last week of April. Above normal temps are also expected. 

USDA will release the weekly Export Sales report on Thursday. Most in the trade are expecting another light round of old crop sales as we near the end of the MY, with net reduction of 100,000 to net sales of 200,000 MT. Estimates for new crop are in a range of 150,000-400,00 MT. 

May 24 CBOT Wheat  closed at $5.37, down 12 3/4 cents,

Jul 24 CBOT Wheat  closed at $5.52 1/4, down 12 1/2 cents,

May 24 KCBT Wheat  closed at $5.72 3/4, down 14 3/4 cents,

Jul 24 KCBT Wheat  closed at $5.69,... Read more

Contract Specifications

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Contract
Chicago Soft Red Winter Wheat [Pit]
Contract Size
5,000 bushels
Tick Size
1/4 cent per bushel ($12.50 per contract)
Trading Hours
8:30a.m. - 1:15p.m. CST
Exchange
CBOT
Point Value
$50
Expiration Date
09/14/17 (expired)

Seasonal Chart

Wheat Pit Sep '17
Average Price Chart for 5 Prior Pit Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
400-0 +7.06%
on 08/28/17
430-4 -0.52%
on 09/05/17
-12-6 (-2.89%)
since 08/14/17
3-Month
400-0 +7.06%
on 08/28/17
560-0 -23.53%
on 07/05/17
-29-0 (-6.34%)
since 06/14/17
52-Week
400-0 +7.06%
on 08/28/17
560-0 -23.53%
on 07/05/17
-36-0 (-7.75%)
since 09/14/16

More Wheat (Pit) Quotes

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Most Recent Stories

More News
Pure Hedge - Livestock and Grain

Cattle and Beans about to break again... Bullish Corn Now.

Wheat Drops with Wednesday Weakness

The wheat markets closed the Wednesday with contracts heading towards the lows. Chicago futures were down 4 ¾ to 12 ¾ cents. Kansas City posted losses of 8 ¾ to 14 ¾ cents at the close. MPLS was the...

ZWK24 : 541-2 (+0.79%)
ZWN24 : 556-4 (+0.77%)
KEK24 : 577-0 (+0.74%)
KEN24 : 573-2 (+0.75%)
MWK24 : 638-6 (+0.87%)
Beans Held Up by Product Pop

Soybeans saw 1 ½ to 5 cent higher trade on Wednesday, as there was some recovery in the product values. Soymeal ended the day with contracts up $1.20 to $3.40/ton, with Soy Oil 1 to 9 points higher in...

ZMN24 : 338.9 (-0.26%)
ZLN24 : 45.71 (+0.33%)
ZSK24 : 1148-4 (-0.09%)
ZSPAUS.CM : 10.9566 (+0.43%)
ZSN24 : 1163-4 (-0.06%)
ZSX24 : 1160-0 (-0.11%)
ZSPX24US.CM : 11.0085 (+0.25%)
Corn Creeps Lower into the Close

Corn ended the midweek session with weakness, as contracts were down ¾ to 2 ½ cents on the day. New crop December led the way with the 2 ½ cent drop, with May down the ¾. EIA data from this morning...

ZCK24 : 430-4 (+0.06%)
ZCPAUS.CM : 4.1347 (-0.03%)
ZCN24 : 440-6 (-0.06%)
ZCZ24 : 464-0 (-0.16%)
ZCPZ24US.CM : 4.3310 (-0.53%)
Grain Spreads: Creamed Wheat

Conditions Impressive for Soft Red Winter

Shootin' the Bull about declining volatility

Price action today didn't seem to impress anyone.  There remains some indecision and skepticism as to what the next most probable move is going to be.  My analysis continues to suggest further triangulation...

Corn Back to Lower at Midday

Corn futures are felling some spillover pressure from wheat, as contracts are down ½ to 2 cents at midday. New crop December is 1 ½ cents lower. EIA data from this morning showed a sharp 73,000 barrel...

ZCK24 : 430-4 (+0.06%)
ZCPAUS.CM : 4.1347 (-0.03%)
ZCN24 : 440-6 (-0.06%)
ZCZ24 : 464-0 (-0.16%)
ZCPZ24US.CM : 4.3310 (-0.53%)
Beans Holding Up on Wednesday

Soybeans are trading on the higher side of unchanged so far on the midweek session as futures are up 1 to 2 ½ cents so far. The product values keep a supportive thing for once this week, with Soymeal...

ZMN24 : 338.9 (-0.26%)
ZLN24 : 45.71 (+0.33%)
ZSK24 : 1148-4 (-0.09%)
ZSPAUS.CM : 10.9566 (+0.43%)
ZSN24 : 1163-4 (-0.06%)
ZSX24 : 1160-0 (-0.11%)
ZSPX24US.CM : 11.0085 (+0.25%)
Wheat Pushing Lower at Midday

The wheat markets are heading lower at midday, pressed by the winter wheat. Chicago contracts are down 8 to 9 cents at midday, as well as the Kansas City futures. Minneapolis spring wheat is steady to...

ZWK24 : 541-2 (+0.79%)
ZWN24 : 556-4 (+0.77%)
KEK24 : 577-0 (+0.74%)
KEN24 : 573-2 (+0.75%)
MWK24 : 638-6 (+0.87%)
Grain Markets Continue to Trade Mixed

Corn remains mostly range bound while soybeans have seen a more decisive move lower.  Wheat futures feel like they could be on the brink of a bigger directional move.

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 428-2
1st Resistance Point 428-2
Last Price 428-2s
1st Support Level 428-2
2nd Support Level 428-2
3rd Support Level N/A

See More

52-Week High 560-0
Fibonacci 61.8% 498-7
Fibonacci 50% 480-0
Fibonacci 38.2% 461-1
Last Price 428-2s
52-Week Low 400-0

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