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Wednesday, June 17, 2009 4:37 PM

KC wheat mostly neutral at midday Wednesday

From the Kansas City Board of Trade

Kansas City wheat futures traded mixed to mostly neutral at midday, felling pressure from the HRW wheat harvest, but failing attempts to pull higher, according to traders.  Technical weakness in the marketplace combined with harvest that should be kicking in today in south central Kansas kept prices in check, traders said. Hot, dry conditions are favorable for the progressing harvest. It should stay dry for the remainder of the week, traders added. Weakness in crude oil today also weighed on Kansas City wheat prices early.

KC July wheat was 1 cent higher at $6.24 at midday.

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