Today's trading volume is estimated at 29,652 contracts or 148.26 million bushels, breaking the single-day record of 26,455 contracts set on Friday. Before Friday, the previous single-day record was 24,424 contracts, established on November 29, 1999.
U.S. hard red winter wheat harvest has generated heavy activity in KCBT wheat futures in recent weeks. Additional market interest has come from a U.S. Department of Agriculture report released Friday morning. The report was viewed as bearish for the corn market, and wheat futures fell along with corn. Heavy selling has been seen from both farmers and funds, traders said.
The downward price trend continued today, with KCBT September wheat futures settling at $2.97 1/2 per bushel, down 12 1/2 cents from Friday's close.
Official volume figures for today will be released Wednesday morning. The exchange is closed tomorrow in observance of Independence Day.
