Kansas City Wheat (HRW) Futures (CBOT KW)

Chicago Board of Trade · December 2026 contract · Priced in U.S. cents per bushel

Contract Overview

711.25 ¢/bu -0.52% (-3.75) Today
Oct 14, 8:08 PM UTC-5
Price performance
Open 715.00
Day's range 711.00 – 716.00
Volume 1.40K
Prev. settlement 715.00
30-day range 703.25 – 807.50
Open interest 147.22K
Bid 711.00
Ask 711.50
Expires Dec 14, 2026

CBOT · Delayed 10 min · Updated 19 min ago · Market open · closes 07:45 CT

Price Performance

December 2026 · KWZ26

Returns

1 week −3.7% −3.7% 1 week −27.25 from 738.50 on Oct 7
1 month −10.7% −10.7% 1 month −85.00 from 796.25 on Sep 15
3 months −2.7% −2.7% 3 months −20.00 from 731.25 on Jul 16
6 months +6.2% +6.2% 6 months +41.75 from 669.50 on Apr 15
Year to date +23.3% +23.3% year to date +134.50 from 576.75 on Dec 31, 2025
1 year +25.9% +25.9% 1 year +146.25 from 565.00 on Oct 13, 2025
  • High since Jun 27, 2025 845.25 Sep 1 · price 15.9% below
  • Low since Jun 27, 2025 565.00 Oct 13, 2025 · price 25.9% above
  • 20-session high 794.50 Sep 21 · price 10.5% below
  • 20-session low 712.25 Oct 13 · price 0.1% below
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Balance Sheet

WASDE · Oct 9, 2026 · 2026/27 forecast
  • Ending stocks 740M bu From 717M bu in Sep
  • Stocks-to-use 39.8% The tightest since 2023/24

Farmbucks members get what moved in this month's WASDE, the crop and the price. Get Started for Free

USDA World Agricultural Supply and Demand Estimates for October 2026, released Oct 9: the U.S. all wheat balance sheet. Changes are against the September report.

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Exports

Week ending Oct 1 · 2026/27
  • Sold this season 10.1M t 32% behind last year's pace
  • Shipped so far 6.82M t 67% of sales · 33% of USDA's forecast

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USDA Export Sales Report for the week ending Oct 1, released Oct 8; the next one is out Oct 16 at 8:30 am ET. Season forecast: WASDE, Oct 2026.

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Commitments of Traders

Tuesday, Oct 6

Net positions

FundsManaged money +24.0K +24.0K net long Managed money · Sold 6.7K on the week · net long for 15 weeks
CommercialsProducers and merchants −92.4K −92.4K net short Producers and merchants · Long 29.3K · short 122K · net +4.2K on the week
  • Funds on the week Sold 6.7K Net long for 15 weeks
  • Open interest 343K Up 8.5K on the week · 287 traders

Funds are hedge funds and other money managers (managed money). Commercials are the hedgers: farmers, elevators, processors and exporters (producers and merchants). Net is longs less shorts, in contracts of 5,000 bushels, as of Tuesday’s close.

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Futures chain

KWZ26 Dec 2026 711.25 ¢/bu -3.75 -0.52%
KWH27 Mar 2027 723.00 ¢/bu -3.75 -0.52%
KWK27 May 2027 728.00 ¢/bu -3.00 -0.41%
KWN27 Jul 2027 728.50 ¢/bu -2.75 -0.38%
KWU27 Sep 2027 734.50 ¢/bu -2.50 -0.34%
KWZ27 Dec 2027 744.75 ¢/bu -2.25 -0.30%
KWH28 Mar 2028 751.50 ¢/bu -1.00 -0.13%
KWK28 May 2028 746.50 ¢/bu -0.75 -0.10%
KWN28 Jul 2028 718.50 ¢/bu +1.00 +0.14%
KWU28 Sep 2028 708.50 ¢/bu +1.00 +0.14%
KWZ28 Dec 2028 721.50 ¢/bu +3.00 +0.42%
KWH29 Mar 2029 730.00 ¢/bu +3.00 +0.41%
KWK29 May 2029 725.75 ¢/bu +3.00 +0.42%
KWN29 Jul 2029 678.25 ¢/bu +3.00 +0.44%

News Stories

Farms.comFarms.com•Oct 13 Alberta Harvest Catches Up to Longer-Term Average
BarchartBarchart•Oct 14 Global wheat supply under pressure
BarchartBarchart•Oct 13 Cattle Hit a Decision Point: Full Grain and Livestock Recap
BarchartBarchart•Oct 14 Wheat Faces Modest Tuesday Weakness, with Export Drag Continuing
Successful FarmingSuccessful Farming•Oct 13 Grains End the Day in the Red | Tuesday, Oct. 13, 2026
BarchartBarchart•Oct 13 MAR KANSAS CITY-CHICAGO WHEAT SPREAD (KEH27-ZWH27) – UPDATE
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Contract Specifications

Contract December 2026 · KWZ26
Exchange Chicago Board of Trade · KW
Contract size 5,000 bushels
Tick size ¼¢ per bushel · $12.50 per contract
Value of a 1¢ move $50 per contract
Contract months Mar, May, Sep, Dec (H, K, U, Z)
Trading hours 7:00 pm – 7:45 am and 8:30 am – 1:20 pm CT, Sun–Fri
Settlement Physical delivery

Cash Basis

USDA · Oct 14
No report

Strongest Colorado −54¢ · weakest Montana −129¢

USDA country-elevator bids against December futures, in cents per bushel; the legend runs from the weakest basis to the strongest.

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Stocks & Acreage

Farmbucks members get USDA's grain stocks and planted area for every state on the map, with each state's change from a year ago. Get Started for Free

Crop Progress

Farmbucks members get this week's crop progress and condition for every state on the map, with each state's own report. Get Started for Free

Drought Monitor

Farmbucks members get this week's Drought Monitor for every state on the map, with each state's share in drought. Get Started for Free

DISCLAIMER: The grain price information provided on Farmbucks.com is for informational purposes only and is subject to change at any time. Prices are sourced from participating grain companies, verified farmer reports and our trusted partners such as Barchart and DTN. While we work to ensure accuracy, discrepancies may occur between the prices listed on this website and those provided by grain buyers. Users are responsible for contacting the purchaser directly to confirm current prices and selling instructions. Farmbucks does not guarantee the accuracy, completeness, or timeliness of the prices displayed and assumes no liability for decisions made based on this information.

Futures Market Data: Futures price data on Farmbucks is provided by DTN, CME Group, and ICE. This data is for informational purposes only and may be subject to delays or inaccuracies. Please consult official exchange sources or your broker for trading decisions.

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