COT Reports / Agricultural / ZW

Wheat (ZW): COT Report & Analysis ZW

Track how "Smart Money" institutions are positioning themselves in Wheat (ZW). By analyzing the latest Commitments of Traders (COT) data from the WHEAT-SRW - CHICAGO BOARD OF TRADE, with sector comparisons, we provide a deep dive into the current market dynamics. Understanding these underlying shifts allows you to better anticipate where the market might be heading next.

About Wheat (ZW)

About Wheat

Wheat is a critical staple crop and a primary source of protein and carbohydrates globally. Different contracts track different varieties: Hard Red Winter (KCBT), Hard Red Spring (Minneapolis), and Soft Red Winter (Chicago).

Primary Usage

High-protein hard wheats are used primarily for bread, pizza dough, and bagels. Soft wheats are preferred for cookies, crackers, and pastries. Lower quality wheat is used for livestock feed.

Market Dynamics & Key Drivers

  • Geopolitics: The Black Sea region (Russia, Ukraine) is a massive exporter; conflicts or disrupted trade routes cause extreme volatility.
  • Global Weather: Simultaneous droughts or floods across major producers (US, EU, Australia, India) can threaten global food security.
  • Currency Fluctuations: A strong US Dollar can make American wheat less competitive on the global export market.
Market Sentiment
Increasing Bearish
Outlook
Net Position
Net Position: Difference between long and short contracts of Non-Commercials (large speculators/funds). A positive value means they are predominantly net-long (expecting rising prices).
-40,762
▼ 331.0%
Market Situation
The market situation analyzes the current net positioning compared to the historical average of recent years (Z-Score). This helps to identify extreme market conditions.
Bearish

COT Charts

Positioning History

commercial and non-commercial positions
Date Position Net Position
Difference between Non-Commercial Long and Short
Non-Comm. Long
Speculators & funds betting on rising prices
Non-Comm. Short
Speculators & funds betting on falling prices
Comm. Long
Hedgers/producers hedging against rising prices
Comm. Short
Hedgers/producers hedging against falling prices
Jun 02, 2026 Bearish -40,762 124,550 165,312 174,825 136,386
May 26, 2026 Bearish -9,458 144,186 153,644 162,357 154,827
May 19, 2026 Bullish 263 143,267 143,004 157,233 159,225
May 12, 2026 Bearish -14,421 134,577 148,998 146,177 133,688
May 05, 2026 Bearish -16,668 128,830 145,498 137,098 128,673
Apr 28, 2026 Bullish 866 132,336 131,470 126,743 129,776
Apr 21, 2026 Bearish -25,537 121,024 146,561 154,803 130,818
Apr 14, 2026 Bearish -18,366 128,989 147,355 158,808 142,556
Apr 07, 2026 Bearish -18,707 138,222 156,929 175,867 158,225
Mar 31, 2026 Bearish -9,415 145,000 154,415 161,925 154,401
Mar 24, 2026 Bearish -17,088 137,228 154,316 167,283 150,934
Mar 17, 2026 Bearish -25,668 130,199 155,867 161,833 137,244
Mar 10, 2026 Bearish -29,165 121,329 150,494 161,771 132,353