Outside Markets Pressure KC Wheat Futures
Oct 18, 2011
Kansas City wheat futures traded both sides of unchanged today, feeling some pressure early from outside markets, according to traders.
Concerns about the debt crisis in Greece prompted some weakness in the market today, traders said, along with some disappointing economic news out of China.
Dry weather remains in the forecast for hard red winter wheat areas, traders said, lending to a short-term rally.
Prices were swinging back and forth as a mixed tone was the main feature of the morning session.
USDA crop progress reports yesterday are estimating 73% of the U.S. winter wheat crop as planted and 44% emerged, according to traders.
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.
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