Softs – Midday Recap – July 15,2009
KC WHEAT SWINGS BACK TO UPSIDE
Kansas City wheat futures traded back to the upside today, following outside markets and an overall lack of selling interest, according to traders.  The U.S. dollar is trading lower this morning and crude oil is weaker, traders said.  Technically, wheat futures are oversold and some short covering came back in today, traders added.
There was little news in the marketplace today and KC wheat was trading and KC Sep wheat was 7 cents higher at $5.65 at midday.
CASH GRAIN: The basis feels steady today, according to traders.
:KCBT wheat volume/open interest for July 14
     In contracts
  Wheat     Volume     Exchs     Open-Int     Change
Jul-09                 9             0                 0            -536
Sep-09         7286      1698        42502            -574
Dec-09         2991           24        34629           +209
Mar-10            321           24         5722             +50
May-10             97              0         1252             +49
Jul-10             433              0         9950          +140
Sep-10             16              0          224                +1
Dec-10           173              0         1169          +108
Mar-11                0              0               0               +0
May-11               0              0               0                +0
Jul-11                 0              0           130               +0
Sep-11               0              0                0               +0
TOTAL       11326      1746        95578            -553

Provided by: KCBT