Kansas City Board Of Trade Wheat Volume Third Largest In July

The Kansas City Board of Trade trading volume for the month of July ended at 300,025 contracts in the hard red winter wheat futures contract, which makes it the third-largest trading volume for the month of July, although far behind 407,032 contracts in 2007 and 377,494 contracts in 2006.

Price volatility continues, as during the month of July, the nearby contract traded in a range of 98 cents, as low as $8.07 and as high as $9.05. During that same period of time in 2007, the price range was 83 1/2 cents, with lows reaching $5.73 and highs $6.56 1/2. On Monday, the USDA projected the hard red winter wheat harvest was 79 percent complete. KCBT floor traders think it's a little further along, estimating HRW wheat harvest at 80 to 85 percent complete.