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Spring Wheat Sep '24 (MWU24)

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Full Chart

Spring Wheat Futures Market News and Commentary

Wheat Starts the Weak with Sharp Losses
Barchart - Mon Jul 8, 5:01PM CDT

The wheat market ended the Monday session with double digit losses across the three exchanges. Chicago futures were down 10 ¼ to 20 cents on the day. Kansas City contracts fell 15 ¼ to 21 ¾ cents across the board on Monday. MPLS spring wheat was 10 to 15 ¾ cents in the red as the final bell rang.

The US winter wheat harvest was tallied at 63% complete by July 7, now 11% above the average pace. The spring wheat crop was listed at 59% headed, 1% lagging the average pace. Condition ratings were up 3% to 75% gd/ex, as the Brugler500 index (factoring in all 5 ratings) was up 2 points to 380.

Wheat shipments were pegged at 341,005 MT (12.5 mbu) during the week that ended on July 4th. That was up 1.7% from the week prior but down 18.7% vs. the same week last year. Of that total, 92,188 MT was split out as headed to Japan, with 67,761 MT headed to South Korea an 55,200 MT to Peru. In the first month+ of the marketing year, exporters have shipped 1.73 MMT (63.6 mbu) so far, which... 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
$2,420/2,200
First Notice Date
08/30/24 (52 days)
Expiration Date
09/13/24 (66 days)

Seasonal Chart

Spring Wheat Sep '24
Average Price Chart for 5 Prior Sep Contracts

Commitment of Traders Positions as of Jul 2, 2024

View Chart Details
Commercials - Long / Short
44,880 (+4,768)
22,702 (-1,643)
Non-Commercials - Long / Short
12,175 (-516)
32,754 (+6,509)
Producers - Long / Short
41,613 (+4,530)
22,647 (-1,650)
Swap Dealers - Long / Short
3,212 (+231)
N/A
Managed Money - Long / Short
9,566 (-1,512)
32,021 (+7,025)
Other Reportables - Long / Short
2,609 (+996)
733 (-516)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
602-0 +2.87%
on 06/25/24
703-4 -11.98%
on 06/10/24
-84-2 (-11.98%)
since 06/07/24
3-Month
602-0 +2.87%
on 06/25/24
776-2 -20.23%
on 05/28/24
-46-6 (-7.02%)
since 04/09/24
52-Week
602-0 +2.87%
on 06/25/24
871-6 -28.96%
on 07/25/23
-179-2 (-22.45%)
since 07/07/23
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Most Recent Stories

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Cattle bulls can't support futures as they break down hard on Monday

Soy milk and pellets by bigfatcat via Pixabay
Soybeans Collapse on Monday Barchart - Mon Jul 8, 5:01PM CDT

Soybean bears came out of the weekend with a vengeance, as contracts fell 16 to 30 ¼ cents across the board. There was no assistance from the products this time, as Soymeal was down $4.50 to $11.10/ton...

ZMZ24 : 320.3 (-0.34%)
ZLZ24 : 47.37 (-1.84%)
ZSN24 : 1174-2s (-1.20%)
ZSPAUS.CM : 11.1250 (+0.06%)
ZSQ24 : 1150-0 (+0.09%)
ZSX24 : 1094-2 (-0.48%)
ZSPX24US.CM : 10.3308 (-0.51%)
landscape of corn field at summer countryside
Wheat Starts the Weak with Sharp Losses Barchart - Mon Jul 8, 5:01PM CDT

The wheat market ended the Monday session with double digit losses across the three exchanges. Chicago futures were down 10 ¼ to 20 cents on the day. Kansas City contracts fell 15 ¼ to 21 ¾ cents across...

ZWN24 : 553-0s (-3.36%)
ZWU24 : 571-0 (+0.09%)
KEN24 : 573-4s (-3.65%)
KEU24 : 578-6 (+0.26%)
MWN24 : 621-0s (unch)
iStock-180198107
Corn Falls to Kick off Week Barchart - Mon Jul 8, 5:01PM CDT

Corn futures fell out of the gates on Monday, with front months down 12 ½ to 17 ¼ cents and deferred contracts losing 4 ½ to 9 ½ cents. Crop Progress data showed 24% of the corn crop as silking 10%...

ZCN24 : 395-6s (-3.77%)
ZCPAUS.CM : 3.7969 (-0.18%)
ZCU24 : 392-4 (-0.19%)
ZCZ24 : 407-2 (-0.12%)
ZCPZ24US.CM : 3.7732 (-0.13%)
Soybeans - Rows of soybeans in a field by Jana Milin via iStock
Grain Spreads: No Weather Premium So Far Walsh Trading - Mon Jul 8, 3:53PM CDT

Cooler and Wetter Pressures Grains

Crop Progress USDA - Mon Jul 8, 3:00PM CDT

Crop Progress - 2024-07-08

ZSX24 : 1094-2 (-0.48%)
ZSPAUS.CM : 11.1250 (+0.06%)
ZSBAUS.CM : -0.3722 (+0.29%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 3,907s (-0.18%)
XTU24 : 4,700s (-0.34%)
ZCZ24 : 407-2 (-0.12%)
ZCPAUS.CM : 3.7969 (-0.18%)
ZCBAUS.CM : -0.1287 (+2.79%)
XVU24 : 2,465s (-0.28%)
XEU24 : 57.68 (+0.02%)
Cattle & Beef - Close up shot of brown and white cow
Shootin' the Bull about feeder basis going positive? Swift Trading Company - Mon Jul 8, 2:15PM CDT

Hence, long way around the barn, but don't be surprised to see a greater than $8.00 positive basis form and potentially remain that way into the end of August.

Fields of wheat under a cloudy blue sky
Wheat Pressured Lower to Start Week Barchart - Mon Jul 8, 12:02PM CDT

The wheat market is trading with double digit losses across the three exchanges on Monday, giving back the gains from the Friday session. Chicago futures are down 19 to 24 cents so far on the day. Kansas...

ZWN24 : 553-0s (-3.36%)
ZWU24 : 571-0 (+0.09%)
KEN24 : 573-4s (-3.65%)
KEU24 : 578-6 (+0.26%)
MWN24 : 621-0s (unch)
Soybeans emerging in the spring
Soybeans in Freefall on Monday Barchart - Mon Jul 8, 12:02PM CDT

Soybeans are posting 20 to 33 cent lower action as we trade through Monday’s midday. Bears took the Friday session off but are coming back with a vengeance today. Soymeal is down $8.00/ton in the August...

ZMZ24 : 320.3 (-0.34%)
ZLZ24 : 47.37 (-1.84%)
ZSN24 : 1174-2s (-1.20%)
ZSPAUS.CM : 11.1250 (+0.06%)
ZSQ24 : 1150-0 (+0.09%)
ZSX24 : 1094-2 (-0.48%)
ZSPX24US.CM : 10.3308 (-0.51%)
Large cornfield with rows of crop
Corn Collapsing at Midday Barchart - Mon Jul 8, 12:02PM CDT

Corn futures are falling 14 to 18 cents so far on the Monday session, as traders come back to a wetter ECB forecast. Preliminary open interest showed some net new buying, up 2,588 contracts. There were...

ZCN24 : 395-6s (-3.77%)
ZCPAUS.CM : 3.7969 (-0.18%)
ZCU24 : 392-4 (-0.19%)
ZCZ24 : 407-2 (-0.12%)
ZCPZ24US.CM : 3.7732 (-0.13%)
More news for this symbol

Barchart Trading Guide

Sell Signal

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

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Spring Wheat Futures Quotes API

Related instruments

Symbol Last Change
MWU24 618-2 +0-6
Spring Wheat
ZCZ24 407-2 -0-4
Corn
ZSX24 1094-2 -5-2
Soybean
ZMZ24 320.3 -1.1
Soybean Meal
ZLZ24 47.37 -0.89
Soybean Oil
ZWU24 571-0 +0-4
Wheat
KEU24 578-6 +1-4
Hard Red Wheat
ZOZ24 310-0 -7-6
Oats
ZRU24 14.735 -0.055
Rough Rice
RSX24 645.30 -3.10
Canola

Key Turning Points

3rd Resistance Point 649-0
2nd Resistance Point 641-0
1st Resistance Point 629-2
Last Price 618-2
1st Support Level 609-4
2nd Support Level 601-4
3rd Support Level 589-6

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52-Week High 871-6
Fibonacci 61.8% 768-6
Fibonacci 50% 736-7
Fibonacci 38.2% 705-0
Last Price 618-2
52-Week Low 602-0

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