ZW Chicago SRW Wheat Futures Weekly Chart Analysis: 2026-May-08 07:10 CT

Price Action

• Last: 613.25,
• Bars: Medium,
• Mom: Average.

WSFG Weekly

• Short-Term
• WSFG Current: -70%
• F0%/NTZ' Bias: Price Below,
• WSFG Trend: Down.

MSFG Month May

• Intermediate-Term
• MSFG Current: -41%
• F0%/NTZ' Bias: Price Below,
• MSFG Trend: Down.

YSFG Year 2026

• Long-Term
• YSFG Current: 34%
• 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

• 06 May 2026: Short ZW 07-26 @ 613.75 Signals.USAR.TR720
• 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: Bullish.

Key Insights Summary

Wheat remains in a broad secular downtrend versus the 200-day benchmark, but the weekly structure is showing a constructive rebound phase from the 2026 low area with price back above the 20-, 55-, and 100-day benchmarks. The short-term and monthly session fib grids are still below their F0% centers, keeping the swing tone bearish on the weekly and monthly cycles, while the yearly grid remains positive and above center, signaling a longer-horizon recovery backdrop. Pivot structure is currently in UTrend, with the next opposite pivot set off a move through 599.00, and the clustered resistance history remains layered well overhead at 723.25, 866.25, 986.50, 1211.25, and 1574.75. The recent sequence of short signals across TR120, WSFG, MSFG, and TR720 aligns with a countertrend pressure phase even as the longer yearly cycle and the rising medium benchmarks reflect a larger base-building and retracement environment.