KCBT wheat futures lower; Protein premium fully steady.
Dec 07, 2009
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.
Highlights from Dec. 7:
KC CASH HRW WHEAT:
The basis was unchanged in Kansas City today.
GULF HRW WHEAT, 11.0% protein:
Dec shipment was at 35 over KCBT March. Wheat for Jan shipment was n/b over March. Wheat for Feb shipment was n/b over March.
The Pacific Northwest wheat markets were mixed today. First half of December soft white wheat values were 5 cent lower at 5.05 today. First half of December hard red spring wheat values were unquoted over MGE March futures. Hard red winter wheat values for first half of December shipment were unchanged at 30c over KCBT Mar wheat futures.
KCBT Wheat Futures
KCBT wheat futures on Monday continued the lower trend seen late last week, traders said. Wheat was following the lower lead of crude oil and gold today, traders added. The U.S. Dollar traded both sides of unchanged today. Volume was noted as light by traders in typical December fashion.
More-than-adequate world supplies continued to weigh on wheat pricing. Favorable weather conditions are expected for the newly planted crop with a winter storm expected in the plains area this week.
There were no delivery intentions to announce against the KCBT Dec 2009 wheat futures contract today.
Today's trading volume was estimated at 9,249 contracts.
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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