December Wheat finished down 28 3/4 at 825 3/4, 39 1/4 off the high and 5 3/4 up from the low. March Wheat closed down 29 at 849 1/4. This was 4 1/4 up from the low and 37 1/2 off the high.

December wheat opened lower and remained lower throughout the day. Funds were sellers of about 3000 contracts into mid session. Wheat lost to corn on the day to continue the recent trend and the Chicago/KC spreads finished roughly even on the day. The USDA issued its Export Sales Report before open today and sales were about in line with trade expectations. Net sales of wheat came in at 366,900 tonnes for the current marketing year and 25,000 for the next marketing year for a total of 391,900. As of August 21, cumulative wheat sales for the current marketing year have reached 53.5% of the USDA forecast versus a 5 year average of 39.5%. Sales of 313,000 tonnes are needed each week to reach the USDA forecast. This week's sales were once again weighted fairly heavily toward hard red wheat as world importers look for high quality and high protein to replace poor quality wheat originating in the Black Sea region. Weather remains cool and wet in the Canadian plains, which is slowing harvest progress there. Argentina received rains in its dry wheat growing areas in recent days, although the driest areas appear to have been skipped. Rains are again forecast in Australia over the next several days, and this should be especially beneficial in the east.

December Oats closed down 4 1/2 at 368 1/2. This was 2 3/4 up from the low and 13 off the high.