ZW Chicago SRW Wheat Futures Weekly Chart Analysis: 2026-May-15 07:09 CT

Price Action

• Last: 650.25,
• Bars: Large,
• Mom: fast.

WSFG Weekly

• Short-Term
• WSFG Current: 74%
• F0%/NTZ' Bias: Price Above,
• WSFG Trend: Up.

MSFG Month May

• Intermediate-Term
• MSFG Current: 11%
• F0%/NTZ' Bias: Price Above,
• MSFG Trend: Up.

YSFG Year 2026

• Long-Term
• YSFG Current: 49%
• 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 688.25,
• 4. Pvt. Next: Pvt Low 611.25,
• 5. Levels R: 1574.75, 1211.25, 986.50, 868.25, 723.25,
• 6. Levels S: 575.75, 509.50.

Weekly Benchmarks

• (Short-Term) 5 Day: 610.5 Up Trend,
• (Short-Term) 10 Day: 612.25 Up Trend,
• (Intermediate-Term) 20 Day: 579 Up Trend,
• (Intermediate-Term) 55 Day: 588.5 Up Trend,
• (Long-Term) 100 Day: 610.5 Up Trend,
• (Long-Term) 200 Day: 740 Down Trend.

Recent Trade Signals

• 14 May 2026: Short ZW 07-26 @ 654.5 Signals.USAR.TR120
• 12 May 2026: Long ZW 07-26 @ 651.75 Signals.USAR.TR720
• 12 May 2026: Long ZW 07-26 @ 651.75 Signals.USAR-MSFG
• 11 May 2026: Long ZW 07-26 @ 628.5 Signals.USAR-WSFG

Overall Rating

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

Key Insights Summary

Wheat is in a broad multi-year downtrend that has been trying to base and stabilize inside the 2026 yearly NTZ zone, with price now holding above the weekly, monthly, and yearly F0% reference lines. The weekly structure remains constructive, with the pivot trend and HiLo trend aligned upward and price pressing back toward the upper end of the recent range after a sharp rebound off the spring lows. Short-term momentum is fast and the candle sequence shows a strong recovery leg, while the recent short signal on TR120 reflects the ongoing back-and-forth volatility rather than a clean trend break. Benchmark averages are mostly stacked in a supportive alignment, though the 200-day remains above price and still points to the larger-scale downtrend. The swing read is that the market is in an active recovery phase with improving trend structure, but still working through a long-term overhead supply zone created by the prior bear market.