Wheat futures are traded in 5,000 bu contracts. There are three subcategories of wheat that are traded:
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Total global production of Wheat is estimated at 781.7 MMT. China is the largest producer of Wheat with an estimated production of 138 MMT, followed by the European Union at 134.75 MMT, India at 103 MMT, Russia at 91 MMT, and the U.S. at 44.9 MMT.
80% of China’s Wheat production is in the East Central part of the country, being in the Northern Hemisphere their Spring Wheat crop is planted in March/April, and harvested in August/September. Their Winter Wheat crop is planted in September/October and harvested in May/June.
The total global demand for Wheat is estimated at 790.1 MMT. China is the world’s largest consumer of Wheat with an estimated usage of 144 MMT. The second largest consumer is the European Union at 108.7 MMT, followed by India at 104.5 MMT,
World ending stocks for Wheat are estimated at 267.5 MMT. The largest ending stocks are held in China at an estimated 144 MMT. The second largest ending stocks are held in the U.S. at an estimated 15.6 MMT, Followed by Russia at 15.38 MMT.
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Corn Nears Halfway point, Soybeans keep pace, Spring wheat slows, Winter Wheat sees worst week in a decade. Corn💠49% Planted Soybeans💠35% Planted Spring Wheat 💠24%
Corn💠-315,639 MT Soybeans💠289,730 MTWheat 💠211,053 MT Net sales reductions of 315,600 MT for 2022/2023–a marketing-year low–were down noticeably from the previous week and from the prior
Corn💠14% Planted Soybeans💠9% Planted Spring Wheat 💠5% Planted Wheat Heading 💠18%
Corn💠312,442 MT Soybeans💠100,101 MT Wheat 💠259,039 MT Corn and soybean sales each missed their respective pre-report range for week ended April 13, though weekly wheat
Corn💠1,215,221 MT Soybeans💠526,376 MT Wheat 💠239,907 MT Corn hits its highest level of the MY, Wheat and Soybeans continue below previous years, However, remain in-line
Weekly corn sales landed just above the low-end pre-report estimate, down 58% from the week prior and 68% from the four-week average. Soybean sales were
USDA WASDE Leaves Corn, Soybeans Unchanged. Wheat Ending Stocks Rose as Expected. Corn💠295.4 MMT Soybeans💠100.3 MMT Wheat 💠265.1 MMT CORN-The USDA did not make many
Corn💠1,097,664 MT Soybeans💠499,054 MT Wheat 💠 168,543 MT Weekly wheat inspections fall outside of the pre-report range.168,543 MT of wheat export inspections were reported for
Corn💠1.04 MMT Soybeans💠384 KMT Wheat 💠 151 KMT Corn hit a 4-week low but is still near its weekly average.Export commitments are 33.0% behind a
Exchange: Chicago Board of Trade
Exchange Symbol: ZW
Tick Size: ¼ cent per bushel ($12.50 per contract)
Contract Size: 5000 bushels
Months: Mar, May, Jul, Sept, Dec (H,K,N,U,Z)
Trading Hours: 7:00 p.m. – 7:45 a.m. (night) 8:30 am – 1:20 pm (1:15pm Settle) Sun-Fri CST
Margin/Maintenance: $3,630/3,300
Exchange: Kansas City Board of Trade
Exchange Symbol: KE
Tick Size: ¼ cent per bushel ($12.50 per contract)
Contract Size: 5000 bushels
Months: Mar, May, Jul, Sept, Dec (H,K,N,U,Z)
Trading Hours: 7:00 p.m. – 7:45 a.m. (night) 8:30 am – 1:20 pm (1:15pm Settle) Sun-Fri CST
Margin/Maintenance: $3,740/3,400
Exchange: Minneapolis Grain Exchange
Exchange Symbol: MWE
Tick Size: ¼ cent per bushel ($12.50 per contract)
Contract Size: 5000 bushels
Months: Mar, May, Jul, Sept, Dec (H,K,N,U,Z)
Trading Hours: 7:00 p.m. – 7:45 a.m. (night) 8:30 am – 1:30 pm (1:30pm Settle) Sun-Fri CST
Margin/Maintenance: $3,960/3,600
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