March Wheat finished up 1/2 at 528 1/2, 9 1/2 off the high and 6 1/2 up from the low. July Wheat closed up 3/4 at 555 1/2. This was 5 3/4 up from the low and 8 1/2 off the high.

The wheat market opened higher and moved lower into mid session. The March contract then chopped on both sides of yesterday's close, mainly trading on the minus side, into the close. Wheat gained marginally on corn today with little trade noted in the spread. Funds were also a minor factor today, with traders saying they were on both sides of the wheat market. Egypt was a buyer of 240,000 tonnes of wheat, all from France and Russia. This was considered supportive in that the final amount was much larger that the 55,000 to 60,000 tonnes originally tendered for. On the other hand, the US was again missing from a large piece of export business due to the strength in the dollar. This was seen as negative by the market. Iraq bought 100,000 tonnes of Canadian wheat and 100,000 tonnes of Russian wheat. Weather is expected to be dry through the end of the week in major Australian wheat harvesting areas. This is considered beneficial after recent wetness in the eastern wheat belt.

March Oats closed up 4 1/2 at 222. This was 9 up from the low and 8 off the high.