The Kansas City Board of Trade on Friday set a new all-time daily volume record for electronic trading in its Hard Red Winter Wheat futures contract.
Hard red winter wheat futures volume traded electronically tallied 27,454 contracts, breaking the previous daily record of 22,407 contracts set on February 11, 2008 by 22.5 percent.
“Ample world wheat supplies continue to limit rallies that have been technically fueled,” said KCBT Chairman Jim Neville. “Heavy volume is attributed to intra-market wheat spreads.”
Robust volume was seen in the intra-market spreads, most notably the Dec 2009/March 2010, Dec 2009/Dec 2010, Dec 2009/July 2010 and July 2010/Dec 2010 contracts.
The KCBT Dec wheat futures contract traded in a range of $4.68 to $4.88 ½, closing near its lows at $4.69 ¼, which was down 14 ½ cents from Thursday’s closing price.
The KCBT, founded in 1856, is Kansas City’s oldest business and 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.