January 2010 Archive for KCBT Review

 

The KCBT Review, the daily newsletter that the traders at the Kansas City Board of Trade use on a daily basis to keep on top of the market, is the most comprehensive source for cash wheat, grain and futures information. The Kansas City Board of Trade Review is produced by the KCBT staff every day the market is in session for KCBT traders and features a daily wrap up of the grain market for both cash and futures.

 

Jan. 27, 2010 KCBT Review Newsletter  (PDF)

 

 

Highlights from Jan. 27:

 

The basis was 1 cent lower to 1 cent higher today, with the ordinary and 11.4 proteins 1 cent lower and the 11.6 proteins 1 cent lower.

 

Jan shipment was at 35 over KCBT March. Wheat for Feb shipment was 35 over March. Wheat for Mar shipment was u/q over March.

 

The Pacific Northwest wheat markets were mixed today. Last half of January soft white wheat values were 15 cents higher at 5.00 today. Last half of January hard red spring wheat values were 2 cents lower at 144 over MGE March futures. Hard red winter wheat values for last half of January shipment were 2 cents lower at 44c over KCBT Mar wheat futures.

 

A significant winter storm is in the forecast for the Southern Plains of the United States, weighing on Kansas City wheat futures today. Much-needed moisture will fall in key HRW wheat areas of Oklahoma and Texas going into the weekend, traders added. Kansas City wheat futures traded lower early on the speculation, and stronger trade in the U.S. Dollar. Disappointment regarding conditions in the world export market continues to weigh on wheat futures, traders said, with Egypt opting to purchase 180,000 metric tonnes of wheat out of the Black Sea area. Intra-market spreading was also present with funds exiting long positions, traders added.

 

KC Mar wheat settled 9 cents lower at $4.90 1/2. Today's trading volume was estimated at 16,849 contracts.

 

 

Read the entire KCBT Review Newsletter  (PDF)

 

 

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Previous editions can also be found on the website. Simply click on the date you would like to view or download on this page: KCBT Review Newsletter Archive. 

 

 

The KCBT, founded in 1856, is Kansas City's oldest business and the world's largest futures market for hard red winter wheat. Daily quotes, market commentary, historical data and charting services are available on our website at www.kcbt.com.  

 

The KCBT Review, the daily newsletter that the traders at the Kansas City Board of Trade use on a daily basis to keep on top of the market, is the most comprehensive source for cash wheat, grain and futures information. The Kansas City Board of Trade Review is produced by the KCBT staff every day the market is in session for KCBT traders and features a daily wrap up of the grain market for both cash and futures.

 

Jan. 22, 2010 KCBT Review Newsletter   (PDF)

 

Highlights from Jan. 22:

 

The basis was unchanged to 6 cents higher today, with the ordinary and 11.6 proteins 2 cents higher; 11.8 and 12.4 through 13.0 proteins 4 cents higher; 12.0 and 12.2 proteins 6 cents higher; and the 13.2 proteins 1 cent higher.

 

Jan shipment was at 31 over KCBT March. Wheat for Feb shipment was 31 over March. Wheat for Mar shipment was u/q over March.

 

 

Strong USDA weekly wheat export sales brought underlying support to Kansas City wheat futures that have suffered losses throughout the week due to liquidation, according to traders. The recent break in the market prompted new export business, traders said, and sales were estimated at 825,000 metric tonnes. Kansas City was able to pull of of opening lows but didn't manage to settle higher, traders said. The Bolsa De Cereales, the grain exchange of Argentina, released a total Argentine wheat crop estimate of 7.4 million tonnes, traders said. The KC Mar/May spread was trading today with some funds rolling out of March positions, traders added.

 

KC Mar wheat settled 1 1/2 cents lower at $5.02. Today's trading volume was estimated at 11,522 contracts.

 

 

Read the entire KCBT Review Newsletter   (PDF)

 

 

………………………

 

Previous editions can also be found on the website. Simply click on the date you would like to view or download on this page: KCBT Review Newsletter Archive. 

 

 

The KCBT, founded in 1856, is Kansas City's oldest business and the world's largest futures market for hard red winter wheat. Daily quotes, market commentary, historical data and charting services are available on our website at www.kcbt.com.  

 

The KCBT Review, the daily newsletter that the traders at the Kansas City Board of Trade use on a daily basis to keep on top of the market, is the most comprehensive source for cash wheat, grain and futures information. The Kansas City Board of Trade Review is produced by the KCBT staff every day the market is in session for KCBT traders and features a daily wrap up of the grain market for both cash and futures.

 

Jan. 13, 2010 KCBT Review Newsletter   (PDF)

 

 

Highlights from Jan. 13:

 

The basis was unchanged to 2 cents higher today, with the ordinary proteins 1 cent higher, and the 11.4 through 11.8 proteins 2 cents higher.

 

Jan shipment was at 30 over KCBT March. Wheat for Feb shipment was 30 over March. Wheat for Mar shipment was 30 over March.

 

The Pacific Northwest wheat markets were mixed today. First half of January soft white wheat values were 20 cents lower at 4.85 today. First half of January hard red spring wheat values were 4 cents higher at 142 over MGE March futures. Hard red winter wheat values for first half of January shipment were unquoted over KCBT Mar wheat futures.

 

Kansas City wheat futures traded mixed today, lower early on follow-through selling from yesterday, and a bounce higher on the close of the day, according to traders. Some end-user pricing allowed KC wheat to come off of early lows, traders said, along with corn finding a bottom price after yesterday's limit-lower trade. Carryout for SRW wheat was raised more aggressively by the USDA in yesterday's reports, traders said, allowing Kansas City to continue to gain on Chicago wheat prices. Bear spreads in the nearby in March in Chicago also kept gains in check for SRW wheat futures, traders added. In export news, Egypt bought 180,000 metric tonnes of wheat from Russia and Kazakhstan.

 

KC Mar wheat settled 2 1/2 cents higher at $5.36 1/2.

 

Today's trading volume was estimated at 13,773 contracts.

 

Read the entire KCBT Review Newsletter    (PDF)

 

 

………………………

 

Previous editions can also be found on the website. Simply click on the date you would like to view or download on this page: KCBT Review Newsletter Archive. 

 

 

The KCBT, founded in 1856, is Kansas City's oldest business and the world's largest futures market for hard red winter wheat. Daily quotes, market commentary, historical data and charting services are available on our website at www.kcbt.com.  

 

 

The KCBT Review, the daily newsletter that the traders at the Kansas City Board of Trade use on a daily basis to keep on top of the market, is the most comprehensive source for cash wheat, grain and futures information. The Kansas City Board of Trade Review is produced by the KCBT staff every day the market is in session for KCBT traders and features a daily wrap up of the grain market for both cash and futures.

 

Jan. 6, 2010 KCBT Review Newsletter  (PDF)

 

 

Highlights from Jan. 6:

 

The basis was unchanged to 7 cents higher today, with the ordinary and 11.0 proteins 2 cents higher; 11.4 proteins 7 cents higher; 11.6 and 11.8 proteins 1 cent higher; and the 12.0 through 12.4 proteins 3 cents higher.

 

Jan shipment was at 30 over KCBT March. Wheat for Feb shipment was 30 over March. Wheat for Mar shipment was 30 over March.

 

The Pacific Northwest wheat markets were unchanged today. First half of January soft white wheat values were unchanged at 5.15 today. First half of January hard red spring wheat values were unchanged at 139 over MGE March futures. Hard red winter wheat values for first half of January shipment were unquoted over KCBT Mar wheat futures.

 

Kansas City wheat futures rallied today, feeling influence from outside markets, and late buying interest from index funds, according to traders. New money buying interest was present early in the day, but surged going into the end of the session, traders added. The U.S. Dollar traded lower today, and crude oil and gold traded higher.

 

Another major winter storm system moved through HRW wheat areas today, bringing snowfall that will be followed by extreme colder weather.
 

KC Mar wheat settled 13 3/4 cents higher at $5.60 1/2.

 

Today's trading volume was estimated at 10,463 contracts.

 
 

Read the entire KCBT Review Newsletter  (PDF)

 

 

………………………

 

Previous editions can also be found on the website. Simply click on the date you would like to view or download on this page: KCBT Review Newsletter Archive. 

 

 

The KCBT, founded in 1856, is Kansas City's oldest business and the world's largest futures market for hard red winter wheat. Daily quotes, market commentary, historical data and charting services are available on our website at www.kcbt.com.  

 

 

The KCBT Review, the daily newsletter that the traders at the Kansas City Board of Trade use on a daily basis to keep on top of the market, is the most comprehensive source for cash wheat, grain and futures information. The Kansas City Board of Trade Review is produced by the KCBT staff every day the market is in session for KCBT traders and features a daily wrap up of the grain market for both cash and futures.

 

Jan. 5, 2010 KCBT Review Newsletter  (PDF)

 

 

Highlights from Jan. 5:

 

The basis was unchanged in Kansas City today.

 

Jan shipment was at 30 over KCBT March. Wheat for Feb shipment was 30 over March. Wheat for Mar shipment was 30 over March.

 

The Pacific Northwest wheat markets were unchanged today. First half of January soft white wheat values were unchanged at 5.07 today. First half of January hard red spring wheat values were unchanged at 139   over MGE March futures. Hard red winter wheat values for first half of January shipment were unquoted over KCBT Mar wheat futures.

 

Kansas City wheat futures traded lower today, feeling pressure from consolidation in the market after yesterday's rally, according to traders.

 

Anticipation of repositioning of funds later in the week sparked yesterday's gains that felt overdone today, traders added. Outside markets traded mixed today and failed to give wheat futures a sense of direction. Liquidation and some profit taking from long positions were featured in the market by the end of the session, traders said.

 

KC Mar wheat settled 4 cents lower at $5.46 3/4.

 

Today's trading volume was estimated at 12,623 contracts.

 

Read the entire KCBT Review Newsletter   (PDF)

 

 

………………………

 

Previous editions can also be found on the website. Simply click on the date you would like to view or download on this page: KCBT Review Newsletter Archive. 

 

 

The KCBT, founded in 1856, is Kansas City's oldest business and the world's largest futures market for hard red winter wheat. Daily quotes, market commentary, historical data and charting services are available on our website at www.kcbt.com.