KCBT wheat futures decline; Basis 2 cents to 18 cents lower
Dec 17, 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. 17:
KC CASH HRW WHEAT:
The basis was 2 cents lower to 18 cents lower today. Ordinaries were down 2 cents; 11.2 percent were down 8 cents; 11.2 and 11.6 percent were down 15 cents; 11.8 percent was down 18 cents; 12 through 12.2 and 12.6 through 14 percent were down 10 cents; and 12.4 percent was down 12 cents.
GULF HRW WHEAT, 11.0% protein:
Dec shipment was at 35 over KCBT March. Wheat for Jan shipment was 30 over March. Wheat for Feb shipment was 30 over March.
The Pacific Northwest wheat markets were lower to unquoted today. Last half of December soft white wheat values were 10 cents lower at 4.90 today. Last half of December hard red spring wheat values were unquoted over MGE March futures. Hard red winter wheat values for Last half of December shipment were unquoted over KCBT Mar wheat futures.
KCBT Wheat Futures
Kansas City wheat futures were lower on Thursday on influence from outside markets, traders said. The U.S. Dollar was higher, breaking through recent highs, which was breaking the grain markets. Also corn and soybeans traded lower. Export sales were rated as fair, reported by the USDA as 345,000 metric tonnes, with previous estimates at 300,000 to 400,000 metric tonnes. No significant impact to the wheat market was seen, traders said.
Trading volume was light in typical pre-holiday trade.
KC Mar wheat settled 15 1/2 cents lower at $5.15.
Today's trading volume was estimated at 11,807 contracts.
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