May Wheat finished down 6 3/4 at 752 3/4, 16 3/4 off the high and 11 1/2 up from the low. July Wheat closed down 4 1/4 at 788. This was 12 1/4 up from the low and 15 off the high. Mid-day weather forecasts turned wetter for the plains and the Midwest and especially for the northern 1/3rd of Kansas for the weekend system and extra rain chances for the system for late next week. This news helped pressure the wheat market led by Kansas City futures which helped pull down Chicago. The news helped push the market down to a new low for the month and the lowest close since March 30th. Some talk of the possibility of increased chances of rain for the southern plains helped limit the upside advance early today but the market saw some early strength from higher trade in the other grains and increased concerns for dryness in Europe and continued dry weather in China wheat areas. While the plains should see some rains, traders see most of the coverage for the northern and eastern parts of the plains so many areas are expected to remain with stressful conditions. Tunisia is tendering for 50,000 tonnes of wheat and Jordan is tendering for 100,000 tonnes. Traders will monitor weekly sales for release in the morning for signs of short-term demand. May corn closed at a premium of 2 3/4 cents above May wheat and briefly traded at a premium for a short time yesterday for the first time since 1996 and this is helping to support ideas of increased feed demand ahead. May Oats closed down 4 1/4 at 386 3/4. This was 8 1/2 up from the low and 12 off the high.

Bron: CME