Ags – Midday Recap – Sept 17,2009

LITTLE NEWS FOR WHEAT FUTURES
Kansas City wheat futures traded lower this morning, taking direction from corn and soybean markets as there was little no friendly news for wheat direction, according to traders.  Concerns about frost have been taken out of the corn and soybean markets, traders said, and wheat is following the turn lower.  USDA weekly wheat export sales for wheat were estimated at 449.4 million metric tonnes, and within previous estimates of 350 to 550 million metric tonnes.  This number was still not able to create excitement in the marketplace, traders added.
KC Dec wheat was 8 cents lower at $4.72 at midday.
CASH GRAIN:  The basis was steady with a little pressure on 12.0 proteins due to an influx of cars at midday.
:KCBT wheat volume/open interest for September 14
     In contracts
  Wheat     Volume     Exchs     Open-Int     Change
Sep-09               0              0                0                 -1
Dec-09         9357      1402        61381            -283
Mar-10         1657             0        20115           +667
May-10           241             0          4044           +106
Jul-10             650             0        13838           +175
Sep-10              24            0             898               +2
Dec-10           974             0        12322           +418
Mar-11                0             0                 0               +0
May-11               0              0                 0              +0
Jul-11                  0              0           169               +0
Sep-11                0              0                 0              +0
TOTAL        12903      1402       112767        +1084

Provided by: KCBT