May Wheat finished down 12 1/4 at 740 1/2, 20 1/4 off the high and 7 1/4 up from the low. July Wheat closed down 11 3/4 at 776 1/4. This was 7 3/4 up from the low and 19 3/4 off the high. A late rally in new crop corn helped the market bounce off of the early lows but the market still closed moderately lower on the session and to the lowest close since March 30th. The outlook for more rain for the plains and even a chance for some rain for the dry areas of the plains next week helped to drive the market sharply lower on the session early in the day. July Kansas City wheat led the market down and closed 21 1/4 cents lower on the day as the rain is expected to help improve hard red winter wheat conditions. More talk of potential exports ahead from India and the Black Sea region added to the negative tone. Net weekly export sales for wheat came in at 443,600 metric tonnes for the current marketing year and 102,000 for the next marketing year for a total of 545,600. Cumulative old crop wheat sales stand at 98.8% of the USDA forecast for 2010/2011 marketing year versus a 5 year average of 93.8%. Sales of only 53,000 metric tonnes of old crop wheat are needed each week to reach the USDA forecast. The EU granted export licenses for 198,000 tonnes of soft wheat this week which pushed the cumulative export total for the year to 15.9 million tonnes and this compares with 14.1 million tonnes last year at this time. News that the US dollar moved down to the lowest level since November 2009 may have helped support the market late in the day. May Oats closed down 4 3/4 at 382. This was 4 up from the low and 7 1/4 off the high.Bron:CME