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Hard Red Wheat Jul '24 (KEN24)

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Hard Red Wheat Futures Market News and Commentary

Wheat Continue Fall Ahead of Day Off

The wheat complex pushed lower into the close across all three exchanges at on Tuesday. Chicago saw losses of 3 ½ to 9 ½ cents across the board. Kansas City contracts were down 3 ¼ to 6 ½ cents. MPLS spring wheat was down 4 to 7 ½ cents. The markets will be closed on Wednesday in observance of Juneteenth, and the bulls need a day break!

The NASS Crop Progress report showed Kansas harvest pace at 28% complete, 20% ahead of normal. Conditions ratings in KS were up a massive 19 points (likely as the worst of the wheat was taken off first), with OK up 10 and CO seeing a 34 point decline. Spring wheat condition ratings saw 5 of the 6 major states improving, with MN up 18 points and ND 6 higher. 

Japan is looking for 84,667 MT of wheat in their weekly tender from Australia, Canada, and the US, with 29,617 MT US specific origin.

Jul 24 CBOT Wheat  closed at $5.82, down 9 1/2 cents,

Sep 24 CBOT Wheat  closed at $5.99, down 9 cents,

Jul 24 KCBT Wheat  closed at... 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
$2,310/2,100
First Notice Date
06/28/24 (9 days)
Expiration Date
07/12/24 (23 days)

Seasonal Chart

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

Commitment of Traders Positions as of Jun 11, 2024

View Chart Details
Commercials - Long / Short
104,528 (-7,199)
87,256 (-10,161)
Non-Commercials - Long / Short
60,361 (-2,721)
70,560 (-325)
Producers - Long / Short
35,901 (-1,490)
75,635 (-3,870)
Swap Dealers - Long / Short
58,627 (+716)
1,621 (+134)
Managed Money - Long / Short
43,844 (-3,324)
59,513 (+14)
Other Reportables - Long / Short
16,517 (+603)
11,047 (-339)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
598-6 +0.33%
on 06/18/24
746-2 -19.50%
on 05/28/24
-61-0 (-9.22%)
since 05/17/24
3-Month
553-6 +8.49%
on 04/03/24
746-2 -19.50%
on 05/28/24
+33-2 (+5.86%)
since 03/18/24
52-Week
543-2 +10.58%
on 03/06/24
873-0 -31.19%
on 07/25/23
-205-4 (-25.49%)
since 06/16/23

More Hard Red Wheat Quotes

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Most Recent Stories

More News
Wheat Continue Fall Ahead of Day Off

The wheat complex pushed lower into the close across all three exchanges at on Tuesday. Chicago saw losses of 3 ½ to 9 ½ cents across the board. Kansas City contracts were down 3 ¼ to 6 ½ cents. MPLS...

ZWN24 : 582-0s (-1.61%)
ZWU24 : 599-0s (-1.48%)
KEN24 : 600-6s (-0.78%)
KEU24 : 609-6s (-0.93%)
MWN24 : 632-6s (-0.90%)
Soybeans Post Gains on Tuesday

Soybeans saw some spreading on Tuesday, as old crop contracts were up 10 to 16 ¼ cents and other contracts for new crop up a penny to 4 ¼ cents. Deferred 2025 crop contracts and beyond were down fractionally...

ZMZ24 : 345.2s (+0.09%)
ZLZ24 : 44.44s (+1.25%)
ZSN24 : 1174-0s (+1.40%)
ZSPAUS.CM : 11.1979 (+1.56%)
ZSQ24 : 1156-0s (+0.87%)
ZSX24 : 1132-0s (+0.15%)
ZSPX24US.CM : 10.7037 (+0.18%)
Corn Rallies on Turnaround Tuesday

Corn futures got a bounce ahead of the midweek holiday, as contracts were anywhere from 1 ¼ to 6 ¼ cents higher at the close. There was some corrective action following the drop in condition ratings...

ZCN24 : 450-0s (+1.41%)
ZCPAUS.CM : 4.3447 (+1.64%)
ZCU24 : 455-6s (+1.28%)
ZCZ24 : 467-6s (+1.03%)
ZCPZ24US.CM : 4.3821 (+1.11%)
Shootin' the Bull about how much higher.........

With cattle, boxes, and some of the grind at the tip top of yearly and historical highs, what's next?  Even higher prices?  Rationing has already taken another large step the past two weeks with boxes...

Soybeans Rallying Following Ratings Drop with Help from Products

Soybeans are 3 to 12 ½ cents higher as we make our way through the Tuesday session. Weaker condition ratings and product value support are helping to support midday action. Soymeal futures are back up...

ZMZ24 : 345.2s (+0.09%)
ZLZ24 : 44.44s (+1.25%)
ZSN24 : 1174-0s (+1.40%)
ZSPAUS.CM : 11.1979 (+1.56%)
ZSQ24 : 1156-0s (+0.87%)
ZSX24 : 1132-0s (+0.15%)
ZSPX24US.CM : 10.7037 (+0.18%)
Wheat Heading Lower Ahead of Day Off

The wheat complex is pushing lower across all three exchanges at midday. Kansas City contracts are down 3 to 5 cents. Chicago is leading the way this time, with 6 to 8 cent losses. MPLS spring wheat is...

ZWN24 : 582-0s (-1.61%)
ZWU24 : 599-0s (-1.48%)
KEN24 : 600-6s (-0.78%)
KEU24 : 609-6s (-0.93%)
MWN24 : 632-6s (-0.90%)
Corn Getting Turnaround Tuesday Bounce

Corn futures are posting 4 to 7 cent gains across most contracts on Tuesday’s midday. They are being helped by some corrective action on a drop in condition ratings and very few prospects of rain in...

ZCN24 : 450-0s (+1.41%)
ZCPAUS.CM : 4.3447 (+1.64%)
ZCU24 : 455-6s (+1.28%)
ZCZ24 : 467-6s (+1.03%)
ZCPZ24US.CM : 4.3821 (+1.11%)
Declining Crop Conditions Help Support Corn and Soybean Prices Overnight

Corn and soybean futures prices firm overnight following the weekly crop progress report, which showed a bigger decline in conditions than expected.

Wheat Continuing Retreat on Tuesday

The wheat complex is posting mixed trade as we kick off the Tuesday session, with many of the front months heading lower. They continued its steep descent on Monday, with double digit losses across all...

ZWN24 : 582-0s (-1.61%)
ZWU24 : 599-0s (-1.48%)
KEN24 : 600-6s (-0.78%)
KEU24 : 609-6s (-0.93%)
MWN24 : 632-6s (-0.90%)
Soybeans Bouncing Following Ratings Drop

Soybeans are 2 to 3 cents higher as we start the Tuesday session. They leaked lower for much of Monday, with contracts down 13 ¼ to 22 ¼ cents across the board. Soymeal futures were down $5.90 to $8.50/ton...

ZMZ24 : 345.2s (+0.09%)
ZLZ24 : 44.44s (+1.25%)
ZSN24 : 1174-0s (+1.40%)
ZSPAUS.CM : 11.1979 (+1.56%)
ZSQ24 : 1156-0s (+0.87%)
ZSX24 : 1132-0s (+0.15%)
ZSPX24US.CM : 10.7037 (+0.18%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 615-7
2nd Resistance Point 612-1
1st Resistance Point 606-3
Last Price 600-6s
1st Support Level 596-7
2nd Support Level 593-1
3rd Support Level 587-3

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52-Week High 873-0
Fibonacci 61.8% 747-0
Fibonacci 50% 708-1
Fibonacci 38.2% 669-2
Last Price 600-6s
52-Week Low 543-2

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