Since making a fresh low in early March, Chicago wheat has traded mostly sideways with relatively small gains capped by overhead resistance. Although the lack of any bullish information has been disappointing, the market remains oversold on a macro level, and managed funds continue to hold a significant net short position. Either or both of these factors could fuel a short covering rally at any time as we head into the more active part of the growing season.

• No new action is currently recommended for 2023 Chicago wheat. Any remaining 2023 soft red winter wheat should be getting priced into market strength. Grain Market Insider won’t have any “New Alerts” for 2023 Chicago wheat – either Cash, Calls, or Puts, as we have moved focus onto 2024 and 2025 Crop Year Opportunities.
• No new action is recommended for 2024 Chicago wheat. At the end of August, we recommended purchasing July ‘24 590 puts to prepare for further price erosion, and recently recommended exiting half of those puts to lock in gains and get closer to a net neutral cost on the remaining position. For now, we are targeting a market rebound back towards 675 – 715 versus May ’24 futures before recommending any additional sales. As for the open 590 put position, we are looking for prices between 475 – 500 versus July ’24 futures to before we recommend exiting half of the remaining July ’24 590 puts.
• No new action is currently recommended for 2025 Chicago Wheat. We recently recommended initiating your first sales for the 2025 SRW crop year as prices pressed back toward the mid-600 range to take advantage of historically good prices for next year’s crop. Since plenty of time remains to market this crop, we are looking for further price appreciation and are currently targeting the 690 – 725 area to recommend making additional sales.

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

Above: Significant resistance remains above the market around the 50-day moving average. Should prices rebound and close above 567, they could still potentially challenge the 100-day moving average, as well as the congestion area between 585 and 620. Although, if prices retreat and close below 523 ½, there’s a risk of trading downwards toward the next major support level situated around 488.

Since making a fresh low in early March, Chicago wheat has traded mostly sideways with relatively small gains capped by overhead resistance. Although the lack of any bullish information has been disappointing, the market remains oversold on a macro level, and managed funds continue to hold a significant net short position. Either or both of these factors could fuel a short covering rally at any time as we head into the more active part of the growing season.

• No new action is currently recommended for 2023 Chicago wheat. Any remaining 2023 soft red winter wheat should be getting priced into market strength. Grain Market Insider won’t have any “New Alerts” for 2023 Chicago wheat – either Cash, Calls, or Puts, as we have moved focus onto 2024 and 2025 Crop Year Opportunities.
• No new action is recommended for 2024 Chicago wheat. At the end of August, we recommended purchasing July ‘24 590 puts to prepare for further price erosion, and recently recommended exiting half of those puts to lock in gains and get closer to a net neutral cost on the remaining position. For now, we are targeting a market rebound back towards 675 – 715 versus May ’24 futures before recommending any additional sales. As for the open 590 put position, we are looking for prices between 475 – 500 versus July ’24 futures to before we recommend exiting half of the remaining July ’24 590 puts.
• No new action is currently recommended for 2025 Chicago Wheat. We recently recommended initiating your first sales for the 2025 SRW crop year as prices pressed back toward the mid-600 range to take advantage of historically good prices for next year’s crop. Since plenty of time remains to market this crop, we are looking for further price appreciation and are currently targeting the 690 – 725 area to recommend making additional sales.

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

Above: Significant resistance remains above the market around the 50-day moving average. Should prices rebound and close above 567, they could still potentially challenge the 50 and then the 100-day moving averages, as well as the congestion area between 585 and 620. Although, if prices retreat and close below 523 ½, there’s a risk of trading downwards toward the next major support level situated around 488.

Since making a fresh low in early March, Chicago wheat has traded mostly sideways with relatively small gains capped by overhead resistance. Although the lack of any bullish information has been disappointing, the market remains oversold on a macro level, and managed funds continue to hold a significant net short position. Either or both of these factors could fuel a short covering rally at any time as we head into the more active part of the growing season.

• No new action is currently recommended for 2023 Chicago wheat. Any remaining 2023 soft red winter wheat should be getting priced into market strength. Grain Market Insider won’t have any “New Alerts” for 2023 Chicago wheat – either Cash, Calls, or Puts, as we have moved focus onto 2024 and 2025 Crop Year Opportunities.
• No new action is recommended for 2024 Chicago wheat. At the end of August, we recommended purchasing July ‘24 590 puts to prepare for further price erosion, and recently recommended exiting half of those puts to lock in gains and get closer to a net neutral cost on the remaining position. For now, we are targeting a market rebound back towards 675 – 715 versus May ’24 futures before recommending any additional sales. As for the open 590 put position, we are looking for prices between 475 – 500 versus July ’24 futures to before we recommend exiting half of the remaining July ’24 590 puts.
• No new action is currently recommended for 2025 Chicago Wheat. We recently recommended initiating your first sales for the 2025 SRW crop year as prices pressed back toward the mid-600 range to take advantage of historically good prices for next year’s crop. Since plenty of time remains to market this crop, we are looking for further price appreciation and are currently targeting the 690 – 725 area to recommend making additional sales.

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

Above: Significant resistance remains above the market around the 50-day moving average. Should prices rebound and close above 567, they could still potentially challenge the 50 and then the 100-day moving averages, as well as the congestion area between 585 and 620. Although, if prices retreat and close below 523 ½, there’s a risk of trading downwards toward the next major support level situated around 488.

Since making a fresh low in early March, Chicago wheat has traded mostly sideways with relatively small gains capped by overhead resistance. Although the lack of any bullish information has been disappointing, the market remains oversold on a macro level, and managed funds continue to hold a significant net short position. Either or both of these factors could fuel a short covering rally at any time as we head into the more active part of the growing season.

• No new action is currently recommended for 2023 Chicago wheat. Any remaining 2023 soft red winter wheat should be getting priced into market strength. Grain Market Insider won’t have any “New Alerts” for 2023 Chicago wheat – either Cash, Calls, or Puts, as we have moved focus onto 2024 and 2025 Crop Year Opportunities.
• No new action is recommended for 2024 Chicago wheat. At the end of August, we recommended purchasing July ‘24 590 puts to prepare for further price erosion, and recently recommended exiting half of those puts to lock in gains and get closer to a net neutral cost on the remaining position. For now, we are targeting a market rebound back towards 675 – 715 versus May ’24 futures before recommending any additional sales. As for the open 590 put position, we are looking for prices between 475 – 500 versus July ’24 futures to before we recommend exiting half of the remaining July ’24 590 puts.
• No new action is currently recommended for 2025 Chicago Wheat. We recently recommended initiating your first sales for the 2025 SRW crop year as prices pressed back toward the mid-600 range to take advantage of historically good prices for next year’s crop. Since plenty of time remains to market this crop, we are looking for further price appreciation and are currently targeting the 690 – 725 area to recommend making additional sales.

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

Above: Significant resistance remains above the market around the 50-day moving average. Should prices rebound and close above 567, they could still potentially challenge the 50 and then the 100-day moving averages, as well as the congestion area between 585 and 620. Although, if prices retreat and close below 523 ½, there’s a risk of trading downwards toward the next major support level situated around 488.

Since making a fresh low in early March, Chicago wheat has traded mostly sideways with relatively small gains capped by overhead resistance. Although the lack of any bullish information has been disappointing, the market remains oversold on a macro level, and managed funds continue to hold a significant net short position. Either or both of these factors could fuel a short covering rally at any time as we head into the more active part of the growing season.

• No new action is currently recommended for 2023 Chicago wheat. Any remaining 2023 soft red winter wheat should be getting priced into market strength. Grain Market Insider won’t have any “New Alerts” for 2023 Chicago wheat – either Cash, Calls, or Puts, as we have moved focus onto 2024 and 2025 Crop Year Opportunities.
• No new action is recommended for 2024 Chicago wheat. At the end of August, we recommended purchasing July ‘24 590 puts to prepare for further price erosion, and recently recommended exiting half of those puts to lock in gains and get closer to a net neutral cost on the remaining position. For now, we are targeting a market rebound back towards 675 – 715 versus May ’24 futures before recommending any additional sales. As for the open 590 put position, we are looking for prices between 475 – 500 versus July ’24 futures to before we recommend exiting half of the remaining July ’24 590 puts.
• No new action is currently recommended for 2025 Chicago Wheat. We recently recommended initiating your first sales for the 2025 SRW crop year as prices pressed back toward the mid-600 range to take advantage of historically good prices for next year’s crop. Since plenty of time remains to market this crop, we are looking for further price appreciation and are currently targeting the 690 – 725 area to recommend making additional sales.

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

Above: Chicago wheat posted a bearish reversal on March 25, indicating there is significant resistance above the market near the 50-day moving average. Prices could still challenge the 50 and 100-day moving averages, and the 585 – 620 congestion area if they rebound and close above 567. Otherwise, if they retreat and close below 523 ½, they run the risk of trading down toward the next major support level near 488.

Since making a fresh low in early March, Chicago wheat has traded mostly sideways with relatively small gains capped by overhead resistance. Although the lack of any bullish information has been disappointing, the market remains oversold on a macro level, and managed funds continue to hold a significant net short position. Either or both of these factors could fuel a short covering rally at any time as we head into the more active part of the growing season.

• No new action is currently recommended for 2023 Chicago wheat. Any remaining 2023 soft red winter wheat should be getting priced into market strength. Grain Market Insider won’t have any “New Alerts” for 2023 Chicago wheat – either Cash, Calls, or Puts, as we have moved focus onto 2024 and 2025 Crop Year Opportunities.
• No new action is recommended for 2024 Chicago wheat. At the end of August, we recommended purchasing July ‘24 590 puts to prepare for further price erosion, and recently recommended exiting half of those puts to lock in gains and get closer to a net neutral cost on the remaining position. For now, we are targeting a market rebound back towards 675 – 715 versus May ’24 futures before recommending any additional sales. As for the open 590 put position, we are looking for prices between 475 – 500 versus July ’24 futures to before we recommend exiting half of the remaining July ’24 590 puts.
• Grain Market Insider sees a continued opportunity to sell a portion of your 2025 SRW wheat crop. In mid-February, the July ’25 Chicago wheat contract broke through the bottom of the long standing 640 – 685 trading range and traded down to the 597 ½low. Prices have rallied 50% back toward the high of that range. While a lot of time remains in which many unforeseen circumstances can unfold to move prices even higher, Grain Market Insider recommends taking advantage of this rally, and these historically good prices, to make an early sale and begin marketing your 2025 SRW crop.

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

Above: Chicago wheat posted a bearish reversal on March 25, indicating there is significant resistance above the market near the 50-day moving average. Prices could still challenge the 50 and 100-day moving averages, and the 585 – 620 congestion area if they rebound and close above 567. Otherwise, if they retreat and close below 523 ½, they run the risk of trading down toward the next major support level near 488.

Since the early December runup, Chicago wheat has suffered in a lower trend while going on to make new contract lows. Although the lack of any bullish information has been disappointing, the market is in a significantly oversold condition, and managed funds continue to hold a significant net short position. Either or both could fuel a short covering rally at any time as we head into the more active part of the growing season.

• No new action is currently recommended for 2023 Chicago wheat. Any remaining 2023 soft red winter wheat should be getting priced into market strength. Grain Market Insider won’t have any “New Alerts” for 2023 Chicago wheat – either Cash, Calls, or Puts, as we have moved focus onto 2024 and 2025 Crop Year Opportunities.
• No new action is recommended for 2024 Chicago wheat. At the end of August, we recommended purchasing July ‘24 590 puts to prepare for further price erosion, and recently recommended exiting half of those puts to lock in gains and get closer to a net neutral cost on the remaining position. For now, we are targeting a market rebound back towards 675 – 715 versus May ’24 futures before recommending any additional sales. As for the open 590 put position, we are looking for prices between 475 – 500 versus July ’24 futures to before we recommend exiting half of the remaining July ’24 590 puts.
• Grain Market Insider sees a continued opportunity to sell a portion of your 2025 SRW wheat crop. In mid-February, the July ’25 Chicago wheat contract broke through the bottom of the long standing 640 – 685 trading range and traded down to the 597 ½low. Prices have rallied 50% back toward the high of that range. While a lot of time remains in which many unforeseen circumstances can unfold to move prices even higher, Grain Market Insider recommends taking advantage of this rally, and these historically good prices, to make an early sale and begin marketing your 2025 SRW crop.

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

Above: Chicago wheat posted a bearish reversal on March 25, indicating there is significant resistance above the market near the 50-day moving average. Prices could still challenge the 50 and 100-day moving averages, and the 585 – 620 congestion area if they rebound and close above 567. Otherwise, if they retreat and close below 523 ½, they run the risk of trading down toward the next major support level near 488.

Since the early December runup, Chicago wheat has suffered in a lower trend while going on to make new contract lows. Although the lack of any bullish information has been disappointing, the market is in a significantly oversold condition, and managed funds continue to hold a significant net short position. Either or both could fuel a short covering rally at any time as we head into the more active part of the growing season.

• No new action is currently recommended for 2023 Chicago wheat. Any remaining 2023 soft red winter wheat should be getting priced into market strength. Grain Market Insider won’t have any “New Alerts” for 2023 Chicago wheat – either Cash, Calls, or Puts, as we have moved focus onto 2024 and 2025 Crop Year Opportunities.
• No new action is recommended for 2024 Chicago wheat. At the end of August, we recommended purchasing July ‘24 590 puts to prepare for further price erosion, and recently recommended exiting half of those puts to lock in gains and get closer to a net neutral cost on the remaining position. For now, the current recommendation is to hold off on making any additional sales unless the market moves back toward last summer’s highs. At which point, we are prepared to recommend adding to current sales levels and possibly even purchasing call options to protect those sales. Otherwise, the remaining July ‘24 590 put position will add a layer of protection if prices erode further.
• Grain Market Insider sees a continued opportunity to sell a portion of your 2025 SRW wheat crop. In mid-February, the July ’25 Chicago wheat contract broke through the bottom of the long standing 640 – 685 trading range and traded down to the 597 ½low. Prices have rallied 50% back toward the high of that range. While a lot of time remains in which many unforeseen circumstances can unfold to move prices even higher, Grain Market Insider recommends taking advantage of this rally, and these historically good prices, to make an early sale and begin marketing your 2025 SRW crop.

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

Above: Chicago wheat posted a bearish reversal on March 25, indicating there is significant resistance above the market near the 50-day moving average. Prices could still challenge the 50 and 100-day moving averages, and the 585 – 620 congestion area if they rebound and close above 567. Otherwise, if they retreat and close below 523 ½, they run the risk of trading down toward the next major support level near 488.

Since the early December runup, Chicago wheat has suffered in a lower trend while going on to make new contract lows. Although the lack of any bullish information has been disappointing, the market is in a significantly oversold condition, and managed funds continue to hold a significant net short position. Either or both could fuel a short covering rally at any time as we head into the more active part of the growing season.

• No new action is currently recommended for 2023 Chicago wheat. Any remaining 2023 soft red winter wheat should be getting priced into market strength. Grain Market Insider won’t have any “New Alerts” for 2023 Chicago wheat – either Cash, Calls, or Puts, as we have moved focus onto 2024 and 2025 Crop Year Opportunities.
• No new action is recommended for 2024 Chicago wheat. At the end of August, we recommended purchasing July ‘24 590 puts to prepare for further price erosion, and recently recommended exiting half of those puts to lock in gains and get closer to a net neutral cost on the remaining position. For now, the current recommendation is to hold off on making any additional sales unless the market moves back toward last summer’s highs. At which point, we are prepared to recommend adding to current sales levels and possibly even purchasing call options to protect those sales. Otherwise, the remaining July ‘24 590 put position will add a layer of protection if prices erode further.
• Grain Market Insider sees a continued opportunity to sell a portion of your 2025 SRW wheat crop. In mid-February, the July ’25 Chicago wheat contract broke through the bottom of the long standing 640 – 685 trading range and traded down to the 597 ½low. Prices have rallied 50% back toward the high of that range. While a lot of time remains in which many unforeseen circumstances can unfold to move prices even higher, Grain Market Insider recommends taking advantage of this rally, and these historically good prices, to make an early sale and begin marketing your 2025 SRW crop.

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

Above: Chicago wheat posted a bearish reversal on March 25, indicating there is significant resistance above the market near the 50-day moving average. Prices could still challenge the 50 and 100-day moving averages and the 585 – 620 congestion area if they rebound and close above 567. Otherwise, if they retreat and close below 523 ½, the next level of major support may come in around 488.

Since the early December runup, Chicago wheat has suffered in a lower trend while going on to make new contract lows. Although the lack of any bullish information has been disappointing, the market is in a significantly oversold condition, and managed funds continue to hold a significant net short position. Either or both could fuel a short covering rally at any time as we head into the more active part of the growing season.

• No new action is currently recommended for 2023 Chicago wheat. Any remaining 2023 soft red winter wheat should be getting priced into market strength. Grain Market Insider won’t have any “New Alerts” for 2023 Chicago wheat – either Cash, Calls, or Puts, as we have moved focus onto 2024 and 2025 Crop Year Opportunities.
• No new action is recommended for 2024 Chicago wheat. At the end of August, we recommended purchasing July ‘24 590 puts to prepare for further price erosion, and recently recommended exiting half of those puts to lock in gains and get closer to a net neutral cost on the remaining position. For now, the current recommendation is to hold off on making any additional sales unless the market moves back toward last summer’s highs. At which point, we are prepared to recommend adding to current sales levels and possibly even purchasing call options to protect those sales. Otherwise, the remaining July ‘24 590 put position will add a layer of protection if prices erode further.
• Grain Market Insider recommends selling a portion of your 2025 SRW wheat crop. In mid-February, the July ’25 Chicago wheat contract broke through the bottom of the long standing 640 – 685 trading range and traded down to the 597 ½low. Prices have now rallied 50% back toward the high of the range. While a lot of time remains in which many unforeseen circumstances can unfold to move prices even higher, Grain Market Insider recommends taking advantage of this rally, and these historically good prices, to make an early sale and begin marketing your 2025 SRW crop.

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

Above: Chicago wheat continues to trade in a congestion pattern bound by 556 on the topside, and 523 ½ on the bottom. If prices regain their bullish footing, and close above 556, they could challenge the 50 and 100-day moving averages that coincide with the 585 – 620 congestion area. Otherwise, if they retreat and close below 523 ½, the next level of major support may come in around 488.