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| I read this on the KCBT update that they email daily......I am happy we won't engage in dollar devaluation......that is like me saying I won't engage in a hail storm or a drought......perhaps they scrapped the printing presses.
Kansas City Board of Trade
KC WHEAT LOWER AS U.S. DOLLAR RALLIES
Kansas City wheat futures traded lower today with commodities across the board, as the U.S. Dollar rallied, according to traders. Timothy Geithner, United States Secretary of Treasury, announced that America will not engage in Dollar devaluation yesterday, traders added. USDA crop progress reports yesterday estimated winter wheat at 80% planted and 51% emerged, and corn 68% harvested and soybeans 83% harvested, traders said. In export news, Egypt purchased 110,000 metric tonnes of wheat from the U.S., 60,000 metric tonnes of Canadian wheat, and 120,000 metric tonnes of French wheat. A sale of 110,000 metric tonnes of U.S. wheat to an unknown buyer was also reported this morning.
KC Dec wheat was 8 1/2 cents lower at $7.23 1/2 at midday.
CASH GRAIN: The basis continues to feel steady with several cars around, traders said.
KCBT wheat volume/open interest for October 18
In contracts
Wheat Volume Exchs Open-Int Change
Dec-10 11523 1152 87397 -1596
Mar-11 4510 168 79279 +1402
May-11 1463 30 15224 +248
Jul-11 1672 40 32782 +444
Sep-11 301 40 4574 +75
Dec-11 533 120 4784 +265
Mar-12 3 0 125 +2
May-12 0 0 4 +0
Jul-12 9 0 1427 +4
TOTAL 20014 1550 225596 +844
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.
Previous editions of the KCBT Review Newsletter can also be found on the KCBT website. Simply click on the date you would like to view or download here: KCBT Review Newsletter.
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interesting comment on KCBT
