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2009-11-21

2009-11-18

2009-11-05

Agriculture

Lifestyles

Friday, June 26, 2009 3:00 PM

KC wheat finds underlying support Friday

From the Kansas City Board of Trade

Kansas City wheat futures traded mixed to slightly lower this morning, continuing to feel weakness from ongoing HRW wheat harvest, but finding underlying support from ideas the market is oversold, according to traders.

This is a key harvest weekend, traders said, as the combines roll through central Kansas and further north.

Hot, dry weather is in the forecast for the weekend, making conditions favorable for cutting.

Technically, the market feels oversold, causing KC wheat prices to bounce off of lows this morning.

The KC July/Sep spread continues to actively trade at 10 ½ cents.

KC July wheat was 1 ½ cents lower at $5.91 at midday.

CASH GRAIN: There are some new crop wheat cars in the marketplace, traders said. 12.0 proteins are bid at the high side, and lower protein levels are bid lower early, traders added.

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KC wheat finds underlying support Friday

From the Kansas City Board of Trade

E-mail this story to a friend | Print this article | Enjoy the convenience of home delivery of The Ottawa Herald.

E-mail this story to a friend | Print this article |
Enjoy the convenience of home delivery of The Ottawa Herald.