KCBT Wheat Futures Break All Previous Single-Day Volume Records

The Kansas City Board of Trade wheat futures volume on Tuesday, February 21 amounted to 36,088 contracts, exceeding all previous single-day volume records. The previous record of 34,874 contracts was set almost exactly a year ago, on February 22, 2005. Each wheat futures contract represents 5,000 bushels, with trading volume yesterday amounting to 180.44 million bushels.

"Yesterday, the KCBT wheat futures market saw some fund buying following Friday’s rally to new contract highs, resulting in another day of new contract highs and the achievement of a new single-day volume record," said KCBT President and CEO Jeff Borchardt. "Talk on the trading floor centered on extremely low temperatures over the weekend in the hard red winter wheat belt with no precipitation in the near-term forecast, bringing fundamental support to the market."

The KCBT wheat futures market saw moderate gains on Tuesday. The KCBT March contract closed up 4 3/4 cents, the May contract closed up 6 1/2 cents and the July contract closed 6 cents higher.

The Kansas City Board of Trade, chartered in 1876, is the world's largest futures market for hard red winter wheat.