May Wheat finished down 21 3/4 at 718 3/4, 21 3/4 off the high and 15 up from the low. July Wheat closed down 21 3/4 at 750 3/4. This was 14 3/4 up from the low and 21 3/4 off the high. The market saw a bounce into the mid-session but sellers become more active late in the day and futures ended up trading back down near the day-session lows but still well up from the overnight lows. May wheat closed 21 3/4 cents lower on the day and lost $1.13 1/2 for the week. Continued long liquidation selling which has been seen all week along with talk that there could be a slowdown in wheat movement near-term as Japan is an active buyer of US wheat helped to spark the long liquidation selling trend. May wheat was down as much as $1.30 from Monday’s peak to the overnight lows before a gradual recover. While still lower on the day, the market was trading near the high end of a range into the mid-session but selling emerges to drive the market down for the fifth session in a row. Talk of a dry weather trend for the southern plains for the next 10 days was seen as a potential positive force. Focus may shift to the weather and growing conditions for the last half of the month on Monday. New news was slow today. May Oats closed down 5 1/2 at 350 1/2. This was 5 up from the low and 9 3/4 off the high.

Bron: CME