Ags – Midday Report – Oct 6,2009

KC DEC PUSHES THROUGH $4.78 LEVEL
A weaker U.S. Dollar, and talk of rain delays in the U.S. corn harvest brought support to Kansas City wheat futures today, according to traders.  Talk of a freeze remains in the forecast for the corn belt this weekend and Monday, traders added, sending grain markets into rally mode.
KC Dec wheat broke through a technical double top of $4.78, bringing additional buying activity, traders said. Dec futures rallied up to $4.88 before backing off going into midday.

KC Dec wheat was 14 1/2 cents higher at $4.76 1/4 at midday.

CASH GRAIN:  The basis feels steady, with some cars on the West Coast trading actively, traders said. 
:KCBT wheat volume/open interest for October 5
     In contracts
  Wheat     Volume     Exchs    Open-Int     Change
Dec-09       9414          837        60380        +1407
Mar-10        2030            82        21931          +457
May-10          348             0           4857          +125
Jul-10            688              0        18270          +102
Sep-10             38             0           1138              +7
Dec-10           518             0         16745           -209
Mar-11                0             0                 4               +0
May-11               0             0                  0              +0
Jul-11               14             0              253             +9
Sep-11               0             0                  0              +0
Dec-11                0             0                 0              +0
TOTAL        13050        919       123578        +1898

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