KCBT wheat futures lower; Basis unch to 8 cents lower

Published on: 17:30PM Dec 15, 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.
 
Dec. 15, 2009 KCBT Review Newsletter    (PDF)
 
 
Highlights from Dec. 15:
 
KC CASH HRW WHEAT:
The basis was unchanged to 8 cents lower today, with the ordinary at 5 cents lower; 11.0 and 11.2 proteins at 8 cents lower; 11.4 proteins at 1 cent lower; 11.6 proteins at 2 cents lower; 11.8 proteins at 1 cent lower; 12.0 proteins at 3 cents lower; 12.2 proteins at 4 cents lower; and 12.4 proteins at 7 cents lower
 
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.
 
PNW WHEAT:
The Pacific Northwest wheat markets unchanged today. First half of December soft white wheat values were unchanged at 5.00 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
Kansas City wheat futures were indirectly influenced by weakness in the Euro, which gave strength to the U.S. Dollar and in turn weakened wheat prices. Light, preholiday trading was seen following the expiration of the December 2009 contract yesterday.
 
Fundamental pressure was seen as the United States is not price competitive on the world market and world supply of wheat is sufficient, traders said.
 
There were no delivery intentions to report against the KCBT Dec wheat futures contract today.
 
KC Mar wheat settled 7 1/2 cents lower at $5.26 1/2.
 
Today's trading volume was estimated at 15,060 contracts.
 
 
Read the entire KCBT Review Newsletter    (PDF)
 
 
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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.