Since mid-July, the wheat market has mostly drifted sideways as the trade tries to balance smaller US and global supplies against cheaper world export prices. During this period, a potential seasonal low was also marked on July 29th as managed funds maintained a sizable net short position in Chicago wheat. While slow global import demand and low Russian export prices continue to be a limiting factor in the market, any increase in US demand due to smaller crops in Europe and the Black Sea region could trigger an extended short-covering rally by managed funds.

• No new action is recommended for 2024 Chicago wheat. Considering the recent rally in wheat, we recommended taking advantage of the elevated prices to make additional sales and buy upside July ’25 860 and 1020 calls (for their extended time frame) in case of a protracted rally. Our current strategy is to target 740 – 760 versus Sept ’24 to recommend further sales and to target a selling price of about 73 cents in the 860 calls to achieve a net neutral cost on the remaining 1020 calls. The remaining 1020 calls would then continue to protect existing sales and give you confidence to make additional sales at higher prices.
• Grain Market Insider sees a continued opportunity to sell another portion of your 2025 SRW wheat crop. Since posting the recent low, July ’25 Chicago wheat prices have rallied about 50 cents and have entered the congestion and resistance area from early July. Considering there may be significant resistance overhead in this area, we recommend taking advantage of this rally to make an additional sale on a portion of your anticipated 2025 soft red winter wheat crop, using either July ’25 Chicago wheat futures, or a July ’25 HTA contract, so basis can be set at a more advantageous time later on.
• No action is currently recommended for 2026 Chicago Wheat. We currently aren’t considering any recommendations at this time for the 2026 crop that will be planted next year, and it may be some time before conditions are conducive to consider making any recommendations. Be patient as we monitor the markets for signs of improvement.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

Above: The market’s close above the 50-day moving average set it up for a potential challenge of the 560 – 570 resistance area, and a rally towards 590 – 595. Should prices reverse and close back below the 50-day moving average, they could again find support near 514, with further support around 500 and 488.

Since mid-July, the wheat market has mostly drifted sideways as the trade tries to balance smaller US and global supplies against cheaper world export prices. During this period, a potential seasonal low was also marked on July 29th as managed funds maintained a sizable net short position in Chicago wheat. While slow global import demand and low Russian export prices continue to be a limiting factor in the market, any increase in US demand due to smaller crops in Europe and the Black Sea region could trigger an extended short-covering rally by managed funds.

• No new action is recommended for 2024 Chicago wheat. Considering the recent rally in wheat, we recommended taking advantage of the elevated prices to make additional sales and buy upside July ’25 860 and 1020 calls (for their extended time frame) in case of a protracted rally. Our current strategy is to target 740 – 760 versus Sept ’24 to recommend further sales and to target a selling price of about 73 cents in the 860 calls to achieve a net neutral cost on the remaining 1020 calls. The remaining 1020 calls would then continue to protect existing sales and give you confidence to make additional sales at higher prices.
• Grain Market Insider sees a continued opportunity to sell another portion of your 2025 SRW wheat crop. Since posting the recent low, July ’25 Chicago wheat prices have rallied about 50 cents and have entered the congestion and resistance area from early July. Considering there may be significant resistance overhead in this area, we recommend taking advantage of this rally to make an additional sale on a portion of your anticipated 2025 soft red winter wheat crop, using either July ’25 Chicago wheat futures, or a July ’25 HTA contract, so basis can be set at a more advantageous time later on.
• No action is currently recommended for 2026 Chicago Wheat. We currently aren’t considering any recommendations at this time for the 2026 crop that will be planted next year, and it may be some time before conditions are conducive to consider making any recommendations. Be patient as we monitor the markets for signs of improvement.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

Above: The market’s close above the 50-day moving average set it up for a potential challenge of the 560 – 570 resistance area, and a rally towards 590 – 595. Should prices reverse and close back below the 50-day moving average, they could again find support near 514, with further support around 500 and 488.

Since mid-July, the wheat market has mostly drifted sideways as the trade tries to balance smaller US and global supplies against cheaper world export prices. During this period, a potential seasonal low was also marked on July 29th as managed funds maintained a sizable net short position in Chicago wheat. While slow global import demand and low Russian export prices continue to exert pressure on the market, any increase in US demand due to smaller crops in Europe and the Black Sea region could trigger a short-covering rally by managed funds.

• No new action is recommended for 2024 Chicago wheat. Considering the recent rally in wheat, we recommended taking advantage of the elevated prices to make additional sales and buy upside July ’25 860 and 1020 calls (for their extended time frame) in case of a protracted rally. Our current strategy is to target 740 – 760 versus Sept ’24 to recommend further sales and to target a selling price of about 73 cents in the 860 calls to achieve a net neutral cost on the remaining 1020 calls. The remaining 1020 calls would then continue to protect existing sales and give you confidence to make additional sales at higher prices.
• Grain Market Insider sees a continued opportunity to sell another portion of your 2025 SRW wheat crop. Since posting the recent low, July ’25 Chicago wheat prices have rallied about 50 cents and have entered the congestion and resistance area from early July. Considering there may be significant resistance overhead in this area, we recommend taking advantage of this rally to make an additional sale on a portion of your anticipated 2025 soft red winter wheat crop, using either July ’25 Chicago wheat futures, or a July ’25 HTA contract, so basis can be set at a more advantageous time later on.
• No action is currently recommended for 2026 Chicago Wheat. We currently aren’t considering any recommendations at this time for the 2026 crop that will be planted next year, and it may be some time before conditions are conducive to consider making any recommendations. Be patient as we monitor the markets for signs of improvement.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

Above: The market’s close above the 50-day moving average set it up for a potential challenge of the 560 – 570 resistance area, and a rally towards 590 – 595. Should prices reverse and close back below the 50-day moving average, they could again find support near 514, with further support around 500 and 488.

Since mid-July, the wheat market has mostly drifted sideways as the trade tries to balance smaller US and global supplies against cheaper world export prices. During this period, a potential seasonal low was also marked on July 29th as managed funds maintained a sizable net short position in Chicago wheat. While slow global import demand and low Russian export prices continue to exert pressure on the market, any increase in US demand due to smaller crops in Europe and the Black Sea region could trigger a short-covering rally by managed funds.

• No new action is recommended for 2024 Chicago wheat. Considering the recent rally in wheat, we recommended taking advantage of the elevated prices to make additional sales and buy upside July ’25 860 and 1020 calls (for their extended time frame) in case of a protracted rally. Our current strategy is to target 740 – 760 versus Sept ’24 to recommend further sales and to target a selling price of about 73 cents in the 860 calls to achieve a net neutral cost on the remaining 1020 calls. The remaining 1020 calls would then continue to protect existing sales and give you confidence to make additional sales at higher prices.
• Grain Market Insider recommends selling another portion of your 2025 SRW wheat crop. Since posting the recent low, July ’25 Chicago wheat prices have rallied about 40 cents and have entered the congestion and resistance area from early July. Considering there may be significant resistance overhead in this area, we recommend taking advantage of this rally to make an additional sale on a portion of your anticipated 2025 soft red winter wheat crop, using either July ’25 Chicago wheat futures, or a July ’25 HTA contract, so basis can be set at a more advantageous time later on.
• No action is currently recommended for 2026 Chicago Wheat. We currently aren’t considering any recommendations at this time for the 2026 crop that will be planted next year, and it may be some time before conditions are conducive to consider making any recommendations. Be patient as we monitor the markets for signs of improvement.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

Above: The market’s close above the 50-day moving average set it up for a potential challenge of the 560 – 570 resistance area, and a rally towards 590 – 595. Should prices reverse and close back below the 50-day moving average, they could again find support near 514, with further support around 500 and 488.

Since mid-July, the wheat market has mostly drifted sideways as the trade tries to balance smaller US and global supplies against cheaper world export prices. During this period, a potential seasonal low was also marked on July 29th as managed funds maintained a sizable net short position in Chicago wheat. While slow global import demand and low Russian export prices continue to exert pressure on the market, any increase in US demand due to smaller crops in Europe and the Black Sea region could trigger a short-covering rally by managed funds.

• No new action is recommended for 2024 Chicago wheat. Considering the recent rally in wheat, we recommended taking advantage of the elevated prices to make additional sales and buy upside July ’25 860 and 1020 calls (for their extended time frame) in case of a protracted rally. Our current strategy is to target 740 – 760 versus Sept ’24 to recommend further sales and to target a selling price of about 73 cents in the 860 calls to achieve a net neutral cost on the remaining 1020 calls. The remaining 1020 calls would then continue to protect existing sales and give you confidence to make additional sales at higher prices.
• No new action is currently recommended for 2025 Chicago Wheat. Our most recent recommendation was to exit half of the previously recommended July ’25 Chicago 620 puts once they reached 67 cents (approximately double their original cost), to lock in gains in case the market rallies back. Moving forward, our strategy is to hold the remaining July ’25 620 puts at, or near, a net neutral cost to maintain downside coverage for any unsold bushels, while also targeting the 590 – 610 range to recommend making additional sales.
• No action is currently recommended for 2026 Chicago Wheat. We currently aren’t considering any recommendations at this time for the 2026 crop that will be planted next year, and it may be some time before conditions are conducive to consider making any recommendations. Be patient as we monitor the markets for signs of improvement.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

Above: The market’s close above the 50-day moving average set it up for a potential challenge of the 560 – 570 resistance area, and a rally towards 590 – 595. Should prices reverse and close back below the 50-day moving average, they could again find support near 514, with further support around 500 and 488.

Since mid-July, the wheat market has mostly drifted sideways as the trade tries to balance smaller US and global supplies against cheaper world export prices. During this period, a potential seasonal low was also marked on July 29th as managed funds maintained a sizable net short position in Chicago wheat. While slow global import demand and low Russian export prices continue to exert pressure on the market, any increase in US demand due to smaller crops in Europe and the Black Sea region could trigger a short-covering rally by managed funds.

• No new action is recommended for 2024 Chicago wheat. Considering the recent rally in wheat, we recommended taking advantage of the elevated prices to make additional sales and buy upside July ’25 860 and 1020 calls (for their extended time frame) in case of a protracted rally. Our current strategy is to target 740 – 760 versus Sept ’24 to recommend further sales and to target a selling price of about 73 cents in the 860 calls to achieve a net neutral cost on the remaining 1020 calls. The remaining 1020 calls would then continue to protect existing sales and give you confidence to make additional sales at higher prices.
• No new action is currently recommended for 2025 Chicago Wheat. Our most recent recommendation was to exit half of the previously recommended July ’25 Chicago 620 puts once they reached 67 cents (approximately double their original cost), to lock in gains in case the market rallies back. Moving forward, our strategy is to hold the remaining July ’25 620 puts at, or near, a net neutral cost to maintain downside coverage for any unsold bushels, while also targeting the 590 – 610 range to recommend making additional sales.
• No action is currently recommended for 2026 Chicago Wheat. We currently aren’t considering any recommendations at this time for the 2026 crop that will be planted next year, and it may be some time before conditions are conducive to consider making any recommendations. Be patient as we monitor the markets for signs of improvement.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

Above: The support area below the market between 524 and 514 ¼ held with Dec ’24 posting a bullish key reversal on August 27. Should prices continue higher toward the 560 – 570 area, they could encounter resistance near the 50-day moving average before then. A break below 514 ¼ could set the market up for a further decline towards 500 and 488.

Since mid-July, the wheat market has mostly drifted sideways as the trade tries to balance smaller US and global supplies against cheaper world export prices. During this period, a potential seasonal low was also marked on July 29th as managed funds maintained a sizable net short position in Chicago wheat. While slow global import demand and low Russian export prices continue to exert pressure on the market, any increase in US demand due to smaller crops in Europe and the Black Sea region could trigger a short-covering rally by managed funds.

• No new action is recommended for 2024 Chicago wheat. Considering the recent rally in wheat, we recommended taking advantage of the elevated prices to make additional sales and buy upside July ’25 860 and 1020 calls (for their extended time frame) in case of a protracted rally. Our current strategy is to target 740 – 760 versus Sept ’24 to recommend further sales and to target a selling price of about 73 cents in the 860 calls to achieve a net neutral cost on the remaining 1020 calls. The remaining 1020 calls would then continue to protect existing sales and give you confidence to make additional sales at higher prices.
• No new action is currently recommended for 2025 Chicago Wheat. Our most recent recommendation was to exit half of the previously recommended July ’25 Chicago 620 puts once they reached 67 cents (approximately double their original cost), to lock in gains in case the market rallies back. Moving forward, our strategy is to hold the remaining July ’25 620 puts at, or near, a net neutral cost to maintain downside coverage for any unsold bushels, while also targeting the 590 – 610 range to recommend making additional sales.
• No action is currently recommended for 2026 Chicago Wheat. We currently aren’t considering any recommendations at this time for the 2026 crop that will be planted next year, and it may be some time before conditions are conducive to consider making any recommendations. Be patient as we monitor the markets for signs of improvement.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

Above: The support area below the market between 524 and 514 ¼ held with Dec ’24 posting a bullish key reversal on August 27. Should prices continue higher toward the 560 – 570 area, they could encounter resistance near the 50-day moving average before then. A break below 514 ¼ could set the market up for a further decline towards 500 and 488.

Since mid-July, the wheat market has mostly drifted sideways as the trade tries to balance smaller US and global supplies against cheaper world export prices. During this period, a potential seasonal low was also marked on July 29th as managed funds maintained a sizable net short position in Chicago wheat. While slow global import demand and low Russian export prices continue to exert pressure on the market, any increase in US demand due to smaller crops in Europe and the Black Sea region could trigger a short-covering rally by managed funds.

• No new action is recommended for 2024 Chicago wheat. Considering the recent rally in wheat, we recommended taking advantage of the elevated prices to make additional sales and buy upside July ’25 860 and 1020 calls (for their extended time frame) in case of a protracted rally. Our current strategy is to target 740 – 760 versus Sept ’24 to recommend further sales and to target a selling price of about 73 cents in the 860 calls to achieve a net neutral cost on the remaining 1020 calls. The remaining 1020 calls would then continue to protect existing sales and give you confidence to make additional sales at higher prices.
• No new action is currently recommended for 2025 Chicago Wheat. Our most recent recommendation was to exit half of the previously recommended July ’25 Chicago 620 puts once they reached 67 cents (approximately double their original cost), to lock in gains in case the market rallies back. Moving forward, our strategy is to hold the remaining July ’25 620 puts at, or near, a net neutral cost to maintain downside coverage for any unsold bushels, while also targeting the 590 – 610 range to recommend making additional sales.
• No action is currently recommended for 2026 Chicago Wheat. We currently aren’t considering any recommendations at this time for the 2026 crop that will be planted next year, and it may be some time before conditions are conducive to consider making any recommendations. Be patient as we monitor the markets for signs of improvement.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

Above: Breaking the initial support at 537 puts December Chicago wheat at risk of dropping toward the July low of 514 ¼. However, the market may find support between 524 and 514 ¼ allowing it to stabilize. On the upside, resistance remains around the 50-day moving average; a rally above this level could push prices toward the 570–590 range.

Since mid-July, the wheat market has mostly drifted sideways as the trade tries to balance smaller US and global supplies against cheaper world export prices. During this period, a potential seasonal low was also marked on July 29th as managed funds maintained a sizable net short position in Chicago wheat. While slow global import demand and low Russian export prices continue to exert pressure on the market, any increase in US demand due to smaller crops in Europe and the Black Sea region could trigger a short-covering rally by managed funds.

• No new action is recommended for 2024 Chicago wheat. Considering the recent rally in wheat, we recommended taking advantage of the elevated prices to make additional sales and buy upside July ’25 860 and 1020 calls (for their extended time frame) in case of a protracted rally. Our current strategy is to target 740 – 760 versus Sept ’24 to recommend further sales and to target a selling price of about 73 cents in the 860 calls to achieve a net neutral cost on the remaining 1020 calls. The remaining 1020 calls would then continue to protect existing sales and give you confidence to make additional sales at higher prices.
• No new action is currently recommended for 2025 Chicago Wheat. Our most recent recommendation was to exit half of the previously recommended July ’25 Chicago 620 puts once they reached 67 cents (approximately double their original cost), to lock in gains in case the market rallies back. Moving forward, our strategy is to hold the remaining July ’25 620 puts at, or near, a net neutral cost to maintain downside coverage for any unsold bushels, while also targeting the 590 – 610 range to recommend making additional sales.
• No action is currently recommended for 2026 Chicago Wheat. We currently aren’t considering any recommendations at this time for the 2026 crop that will be planted next year, and it may be some time before conditions are conducive to consider making any recommendations. Be patient as we monitor the markets for signs of improvement.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

Above: Breaking the initial support at 537 puts December Chicago wheat at risk of dropping toward the July low of 514 ¼. However, the market may find support between 524 and 514 ¼ allowing it to stabilize. On the upside, resistance remains around the 50-day moving average; a rally above this level could push prices toward the 570–590 range.

Chicago Wheat Managed Money Funds net position as of Tuesday, August 20. Net position in Green versus price in Red. Money Managers net bought 20,303 contracts between August 14 – 20, bringing their total position to a net short 52,985 contracts.

Since mid-July, the wheat market has mostly drifted sideways as the trade tries to balance smaller US and global supplies against cheaper world export prices. During this period, a potential seasonal low was also marked on July 29th as managed funds maintained a sizable net short position in Chicago wheat. While slow global import demand and low Russian export prices continue to exert pressure on the market, any increase in US demand due to smaller crops in Europe and the Black Sea region could trigger a short-covering rally by managed funds.

• No new action is recommended for 2024 Chicago wheat. Considering the recent rally in wheat, we recommended taking advantage of the elevated prices to make additional sales and buy upside July ’25 860 and 1020 calls (for their extended time frame) in case of a protracted rally. Our current strategy is to target 740 – 760 versus Sept ’24 to recommend further sales and to target a selling price of about 73 cents in the 860 calls to achieve a net neutral cost on the remaining 1020 calls. The remaining 1020 calls would then continue to protect existing sales and give you confidence to make additional sales at higher prices.
• No new action is currently recommended for 2025 Chicago Wheat. Our most recent recommendation was to exit half of the previously recommended July ’25 Chicago 620 puts once they reached 67 cents (approximately double their original cost), to lock in gains in case the market rallies back. Moving forward, our strategy is to hold the remaining July ’25 620 puts at, or near, a net neutral cost to maintain downside coverage for any unsold bushels, while also targeting the 590 – 610 range to recommend making additional sales.
• No action is currently recommended for 2026 Chicago Wheat. We currently aren’t considering any recommendations at this time for the 2026 crop that will be planted next year, and it may be some time before conditions are conducive to consider making any recommendations. Be patient as we monitor the markets for signs of improvement.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

Above: Breaking the initial support at 537 puts December Chicago wheat at risk of dropping toward the July low of 514 ¼. However, the market may find support between 514 ¼ and 524, allowing it to stabilize. On the upside, resistance remains around the 50-day moving average; a rally above this level could push prices toward the 570–590 range.