ZW Chicago SRW Wheat Futures Weekly Chart Analysis: 2026-May-06 07:10 CT

Price Action

• Last: 609.75,
• Bars: Medium,
• Mom: Average.

WSFG Weekly

• Short-Term
• WSFG Current: -73%
• F0%/NTZ' Bias: Price Below,
• WSFG Trend: Down.

MSFG Month May

• Intermediate-Term
• MSFG Current: -45%
• F0%/NTZ' Bias: Price Below,
• MSFG Trend: Down.

YSFG Year 2026

• Long-Term
• YSFG Current: 33%
• F0%/NTZ' Bias: Price Above,
• YSFG Trend: Up.

Swing Pivots

• (Short-Term) 1. Pvt. Trend: UTrend,
• (Intermediate-Term) 2. HiLo Trend: UTrend,
• 3. Pvt. Evolve: Pvt High 671.50,
• 4. Pvt. Next: Pvt Low 599.00,
• 5. Levels R: 1574.75, 1211.25, 986.50, 866.25, 723.25,
• 6. Levels S: 575.75, 509.50.

Weekly Benchmarks

• (Short-Term) 5 Day: 608.00 Up Trend,
• (Short-Term) 10 Day: 610.25 Up Trend,
• (Intermediate-Term) 20 Day: 574.00 Up Trend,
• (Intermediate-Term) 55 Day: 587.50 Up Trend,
• (Long-Term) 100 Day: 612.25 Up Trend,
• (Long-Term) 200 Day: 752.00 Down Trend.

Recent Trade Signals

• 05 May 2026: Short ZW 07-26 @ 626.5 Signals.USAR-MSFG
• 05 May 2026: Short ZW 07-26 @ 626.5 Signals.USAR.TR120
• 05 May 2026: Short ZW 07-26 @ 632.5 Signals.USAR-WSFG

Overall Rating

• Short-Term: Bearish,
• Intermediate-Term: Bearish,
• Long-Term: Neutral.

Key Insights Summary

Wheat is sitting in a broad secular downtrend, but the current weekly structure is trying to stabilize above the 2026 Yearly Session Fib Grid base while still trading below the weekly and monthly F0%/NTZ centers. The short-term tape remains bearish, reinforced by downside session-fib bias and recent short signals, even though the pivot trend has flipped to UTrend and price is probing a nearby pivot high/low transition zone. Intermediate-term conditions are also bearish, with the monthly session fib still below equilibrium and the market holding under the major swing resistance band. Long-term structure is mixed: the 2026 yearly grid is positive and price is above it, but the 200-day benchmark is still materially above price and slopes lower, keeping the broader trend soft. Overall, the chart shows a market in a lower-range rebound phase within a much larger downtrend, with recent weeks marked by choppy retracement, failed recovery attempts, and repeated tests of support and resistance.