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Kansas City Board of Trade volume traded during the month of May totaled 286,034 contracts, 252,286 contracts of which were wheat futures and 33,748 of which were wheat options contracts.
Trading volume was lighter than normal due to a large number of questions about this year’s hard red winter wheat crop. Not only was the U.S. crop hit with a substantial freeze in April, but since then there has been much talk about tightening world wheat stocks and speculation about the size of the world wheat crop due to dryness in France, the Ukraine, Northern China and Australia.
The first week of May, the Wheat Quality Council’s Hard Red Winter Wheat Crop Tour estimated the Kansas wheat crop at 392.74 million bushels with an average yield of 41 bushels per acre. On May 11, the USDA estimated the Kansas wheat crop at 361 million bushels with an average yield of 38.0 bushels per acre.
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.
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Value Line® is a registered mark of Value Line® Inc., a New York corporation that provides financial services and publications. Since 1982, the Kansas City Board of Trade has been licensed to use the Value Line® mark in connection with its efforts to establish futures markets tied to the Value Line® index. The Kansas City Board of Trade and Value Line, Inc. are not affiliated corporate entities.
