Small Bounce in KC Wheat Futures
Jun 08, 2010
Kansas City wheat futures bounced slightly higher today with some light short-covering activity off of recent lows, according to traders. USDA weekly wheat crop ratings showed a little deterioration in the Kansas wheat crop, but not significant, traders said.
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There are some concerns with disease in the crop, including rust, traders added. Intra-market spread trading was active again today, with the KC Sep/July 2011 trading at 60 cents and the July/Sep spread trading at 11 3/4 cents. Monthly USDA supply and demand reports are due on Thursday, June 10.