Ags – Midday Report – Oct 5,2009

THREAT OF FREEZE IN MIDWEST SUPPORTS GRAINS
Talk of potential freezing weather in the nation's corn belt brought support to Kansas City wheat futures this morning and grain commodities, according to traders.  Talk of the colder weather is in the forecast for next weekend in the northern half of the Midwest, traders added.  Rain delays in the corn harvest are also supporting grain markets, traders added.
Kansas City wheat futures bounced higher today off of new contract lows met on Friday.
KC Dec wheat was 4 cents higher at $4.63 1/2 at midday.
CASH GRAIN:  There are a lot of cars in the market, and the basis feels steady to a little weaker in mid 11.0 and 12.0 protein levels. 
:KCBT wheat volume/open interest for October 2
     In contracts
  Wheat     Volume     Exchs    Open-Int     Change
Dec-09         6947       1107        58973         +507
Mar-10          1471            0         21474          -239
May-10           117             0           4732           +37
Jul-10             854           50         18168           +53
Sep-10              52             0            1131            +9
Dec-10            428             0        16954          -125
Mar-11                4              0                 4             +4
May-11                0             0                 0             +0
Jul-11                  3             0            244              +3
Sep-11                0             0                 0              +0
Dec-11               0             0                  0             +0
TOTAL         9876       1157       121680       +249

Provided by KCBT