Further indication that China is interested in feed grains from the U.S. led Kansas City wheat futures to rally today, according to traders.  In addition to a purchase of 115,000 metric tonnes of corn yesterday, China purchased 120,000 metric tonnes of soybeans today and is sending signals that the country is increasing in demand for U.S. feed grains, traders said.  Increase in demand for meat in China is supporting the feed grain usage, traders added.  The U.S. Dollar was lower this morning, but still remains higher on the week, traders said.  USDA weekly wheat export sales reports were above expectations of 300 to 400 thousand metric tonnes, estimated at 468.4 thousand metric tonnes.

 

KC May wheat was 13 1/2 cents higher at $5.05 at midday.

 

CASH GRAIN:  The basis continues to feel steady and quiet, traders said. 
   
  
Previous editions of the KCBT Review Newsletter 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.  

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.

 

April 26, 2010 KCBT Review Newsletter   (PDF)

 

 

Highlights from April 15:

 

There were no changes in the protein premium scale in Kansas City today.

 

Apr shipment was at unq over KCBT May. Wheat for May shipment was 5 over May. Wheat for Jun shipment was unq over July.

 

The Pacific Northwest wheat markets were mixed today. Last half of April soft white wheat values were unchanged at 4.85 today. Last half of April hard red spring wheat values were at 10 cents lower at 171 over MGE May futures. Hard red winter wheat values for last half of April shipment were 10 cents lower at 36 over KCBT May wheat futures.

 

Technical weakness and strength in the U.S. Dollar contributed to the losses in Kansas City wheat futures today, according to traders. After trading lower on Friday, KC wheat extended losses into today's session. Sell stops were triggered along the way, and KC May and July traded below $5.00, with the July contract managing to settle just above the $5.00 level, traders said. In export news, Jordan is in the market for 100,000 metric tonnes of hard wheat. Jordan was in the market for same amount last week and purchased 50,000 metric tonnes of Black Sea wheat, traders said.

 

KC May wheat settled 15 1/4 cents lower at $4.90 1/2.

 

Today's trading volume was estimated at 23,903 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.

 

April 15, 2010 KCBT Review Newsletter   (PDF)

 

 

Highlights from April 15:

 

The basis was unchanged to 2 cents higher today, with the 12.0 and 12.2 proteins 2 cents higher.

 

Apr shipment was at 27 over KCBT May. Wheat for May shipment was 27 over May. Wheat for Jun shipment was unq over July.

 

The Pacific Northwest wheat markets were mixed today. First half of April soft white wheat values were 5 cents higher at 4.80 today. First half of April hard red spring wheat values were 15 cents lower at 195 over MGE May futures. Hard red winter wheat values for first half of April shipment were unchanged at 52 over KCBT May wheat futures.

 

Kansas City wheat futures traded higher today due to short-covering activity, with little else to explain strength in the grain markets, according to traders. Ignoring the strength in the U.S. Dollar and a lower overnight session, KC wheat followed the covering of net short positions in Chicago SRW wheat futures, traders said. CBOT corn and soybean futures also traded higher today.

 

USDA weekly wheat export sales for wheat were unremarkable, traders said, with old crop sales estimated at 101,000 metric tonnes and new crop sales estimated at 310,000 metric tonnes. KC July wheat traded within a range above $5.00 today.

 

KC May wheat settled 6 cents higher at $4.96 1/2.

 

Today's trading volume was estimated at 17,279 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.  

 

Kansas City wheat futures traded mixed this morning, with little news to move the market, according to traders. Early weakness was overshadowed by a lack of selling interest, and some short covering came into the market as the day progressed, traders said. There is no real news for the market to rally on today, traders said, although sellers remain reluctant due to the large amount of short positions by the funds in Chicago. Crude oil and gold were both trading lower at midday.

 

KC May wheat was 5 1/2 cents higher at $4.89 3/4 at midday.

 
KCBT Review Newsletter.   

 

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.

 

April 9, 2010 KCBT Review Newsletter    (PDF)

 

Highlights from March 30:

 

 

 

 

Kansas City wheat futures traded lower today, ignoring a 51 million bushel decrease in U.S. wheat ending stocks and focusing on bearish numbers for corn futures, according to traders. The U.S. ending stocks number for wheat is still healthy at 950 million bushels, traders said, and traders are anticipating a large wheat crop this year. The U.S. Dollar traded lower today, also failing to impact the mostly lower trade in wheat futures. 

 

Favorable planting conditions are in the forecast this weekend for Spring wheat and corn, traders said. KC wheat settled off of lows, with May 2 cents lower at $4.83 1/2.

 

Today's trading volume was estimated at 16,479 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.