KC wheat lower as dollar turns firmer


Copyright 10/26/2009 • www.ottawaherald.com
From the Kansas City Board of Trade

Kansas City wheat futures opened higher this morning on follow-through strength from the overnight session but turned lower as the U.S. dollar strengthened throughout the course of the morning, traders said. 

Corn and soybean futures broke hard after the opening, traders said, due to some farmer selling. 

There was not a lot of news for wheat futures, and outside markets were giving wheat some direction.  Crude oil was trading lower at midday.

KC Dec wheat was 12 1/2 cents lower at $5.37 at midday.

CASH GRAIN: There were a few cars around in the marketplace, with mid 11 protein levels trading firmer, according to traders.