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Barchart
Barchart
Andrew Hecht

BIZARRE: Cbot wheat futures hover around the 7 pivot point - You Need To See This

CBOT KCBT WEAT United States USDA Europe WASDE

In a March 13 Barchart article on the March World Agricultural Supply and Demand Report, nearby CBOT May wheat futures were at the $6.91 per bushel level. On April 5, 2023, the price was virtually unchanged. 

Wheat is the primary ingredient in bread, which feeds the world. The CBOT soft red winter wheat futures contract is the most liquid benchmark for the grain. Over the past weeks, the nearby May contract has been hovering around the $7 per bushel level, with the new crop September contract at a premium. 

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