Ags – Midday Report – Sept 18,2009

CHOPPY TRADE IN KC WHEAT
Kansas City wheat futures traded both sides of unchanged this morning in a quiet, choppy session, according to traders.  News was quiet going into the weekend for the wheat market, traders added.  Rainfall overnight in Australia and Argentina led to some early weakness, but KC Dec met some recent support at the $4.70 level and ran out of selling interest, traders said.  The market bounced a little higher by midday.
KC Dec wheat was 1 cent higher at $4.75 1/4 at midsession. 

CASH GRAIN:  The basis feels steady with plenty of cars around, and some 12.0 cars trading slightly weaker last night, traders said.
:KCBT wheat volume/open interest for September 17
     In contracts
  Wheat     Volume     Exchs     Open-Int     Change
Sep-09              0             0                  0               +0
Dec-09       7100       1056        61661           +280
Mar-10        1298        445        20321            +206
May-10          673        410         4534             +490
Jul-10          2279        425        14245            +407
Sep-10          449        425             880              -18
Dec-10        1148        425       12476            +154
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        12947      3186    114286          +1519

Provided by KCBT