ZW Chicago SRW Wheat Futures Daily Chart Analysis: 2026-May-04 07:10 CT

Price Action

Last: 636.00,
Bars: Large,
Mom: Fast.

WSFG Weekly

Short-Term
WSFG Current: -3%
F0%/NTZ' Bias: Price Below,
WSFG Trend: Down.

MSFG Month May

Intermediate-Term
MSFG Current: -9%
F0%/NTZ' Bias: Price Below,
MSFG Trend: Down.

YSFG Year 2026

Long-Term
YSFG Current: 44%
F0%/NTZ' Bias: Price Above,
YSFG Trend: Up.

Swing Pivots

(Short-Term) 1. Pvt. Trend: DTrend,
(Intermediate-Term) 2. HiLo Trend: UTrend,
3. Pvt. Evolve: Pvt Low 631.75,
4. Pvt. Next: Pvt High 664.75,
5. Levels R: 1211.25, 1165.50, 1042.50, 1041.00, 988.50,
6. Levels S: 631.75, 575.75, 572.75, 530.25, 515.00.

Daily Benchmarks

(Short-Term) 5 Day: 643.00 Down Trend,
(Short-Term) 10 Day: 627.75 Up Trend,
(Intermediate-Term) 20 Day: 611.75 Up Trend,
(Intermediate-Term) 55 Day: 599.50 Up Trend,
(Long-Term) 100 Day: 568.75 Up Trend,
(Long-Term) 200 Day: 559.25 Up Trend.

Additional Metrics

ATR: 63,
VOLMA: 90630.36.

Recent Trade Signals

04 May 2026: Short ZW 07-26 @ 632.5 Signals.USAR-WSFG
04 May 2026: Short ZW 07-26 @ 632.5 Signals.USAR-MSFG
30 Apr 2026: Short ZW 07-26 @ 646.25 Signals.USAR.TR120

Overall Rating

Short-Term: Bearish,
Intermediate-Term: Bearish,
Long-Term: Bullish.

Key Insights Summary

Wheat is in a sharp daily selloff from the recent high near 671.50, with the last trade back below the 636 area and a fast momentum profile. The weekly and monthly session fib grids both sit in negative territory and price remains below the NTZ/F0% reference zones, matching the short-term and intermediate-term down bias. Swing structure shows a short-term DTrend while the higher-level HiLo structure is still UTrend, reflecting a mixed but weakening trend sequence after the rejection from the 664.75 pivot high. Daily benchmarks are stacked constructively over the longer horizon, with price still above the 10, 20, 55, 100, and 200-day averages, so the broader trend remains upward even as the recent swing has turned lower and more volatile.