The Kansas City Board of Trade trading volume for the month of June topped 500,000 contracts as a total of 501,737 contracts were traded, 478,350 of which were wheat futures contracts and 23,387 of which were wheat options contracts.
Wheat futures trading volume more than doubled last month’s volume of 238,646 contracts. This was the third-largest volume on record for the calendar month of June, behind 2006 at 514,595 contracts and 2007 at 513,894 contracts. As wheat harvest progresses in Kansas, usually the top-producing Hard Red Winter wheat state, extremely active price volatility continued. During the month of June, the nearby July contract traded in a range of $1.66 3/4, as low as $7.88 and as high as $9.54 3/4. During that same timeframe in 2006, the price range was 38 3/4 cents, with a low of $4.61 and a high of $4.99 3/4.
This was the third-largest June on record for the exchange as a whole as well. It falls behind June 2006 at 566,272 contracts and 2007 at 546,855 contracts.
The Kansas City Board of Trade, founded in 1856, is the world's largest futures market for hard red winter wheat. Daily quotes, market commentary, historical data and charting services are available on our website at www.kcbt.com.
(in contracts)