ZW Chicago SRW Wheat Futures Daily Chart Analysis: 2026-Jun-23 07:09 CT

Price Action

• Last: 607.25,
• Bars: Medium,
• Mom: Average.

WSFG Weekly

• Short-Term
• WSFG Current: -17%
• F0%/NTZ' Bias: Price Below,
• WSFG Trend: Down.

MSFG Month Jun

• Intermediate-Term
• MSFG Current: -18%
• F0%/NTZ' Bias: Price Below,
• MSFG Trend: Down.

YSFG Year 2026

• Long-Term
• YSFG Current: 31%
• F0%/NTZ' Bias: Price Above,
• YSFG Trend: Up.

Swing Pivots

• (Short-Term) 1. Pvt. Trend: UTrend,
• (Intermediate-Term) 2. HiLo Trend: DTrend,
• 3. Pvt. Evolve: Pvt High 626.50,
• 4. Pvt. Next: Pvt Low 597.00,
• 5. Levels R: 1050.50, 1049.00, 994.50, 874.25, 731.25,
• 6. Levels S: 579.00, 538.25, 523.00, 517.50.

Daily Benchmarks

• (Short-Term) 5 Day: 608.75 Down Trend,
• (Short-Term) 10 Day: 601.25 Up Trend,
• (Intermediate-Term) 20 Day: 609.50 Down Trend,
• (Intermediate-Term) 55 Day: 616.75 Down Trend,
• (Long-Term) 100 Day: 609.00 Down Trend,
• (Long-Term) 200 Day: 577.00 Up Trend.

Additional Metrics

• ATR: 51,
• VOLMA: 77996.

Recent Trade Signals

• 23 Jun 2026: Short ZW 09-26 @ 604.75 Signals.USAR-MSFG
• 22 Jun 2026: Short ZW 09-26 @ 607.5 Signals.USAR.TR120
• 22 Jun 2026: Short ZW 09-26 @ 612 Signals.USAR-WSFG
• 17 Jun 2026: Long ZW 07-26 @ 611 Signals.USAR.TR720

Overall Rating

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

Key Insights Summary

Wheat remains in a corrective bearish phase on the weekly and June monthly session grids, with price holding below both F0%/NTZ references and recent short signals confirming downside pressure. The daily structure shows a sharp swing reversal sequence from the early-June highs, followed by a retracement into the lower part of the current month’s range and a test back toward the 597-579 support zone. Swing pivots still show an active short-term UTrend, but the intermediate HiLo pivot structure is DTrend, which fits the broader pullback and lower-high behavior. Benchmark alignment is mixed-to-bearish: price sits below the 5, 20, 55, and 100 day references while the 10 day and 200 day remain constructive, leaving the chart in a choppy transition state rather than a clean trend continuation. The yearly framework remains positive, but on the daily swing horizon the dominant theme is a selloff, bounce, and rejection pattern inside a larger consolidation band.