Related Keywords: Agriculture Email Print | September Wheat finished down 27 at 647 3/4, 35 off the high and 1 1/4 up from the low. December Wheat closed down 27 1/4 at 680 1/2. This was 1 1/4 up from the low and 35 3/4 off the high. December wheat broke sharply today, finishing near the lows of the day. This pushed the December contract to its lowest level since August 18th. Wheat lost ground sharply to corn which posted fractional losses. Traders said that a number of factors contributed to the sell off including disappointment that US wheat was again not included in the latest wheat purchase by Egypt. A higher dollar and rains in Russia were also considered negative price influences. Egypt bought 240,000 tonnes of wheat today with origins reported to be Canada and France. This is for delivery in early October. The UN Foreign Agriculture Organization estimates that floods in Pakistan have affected 3.2 million acres of cropland, or about 14% of the total area. The greatest loss may have been in rice which the FAO cut by 3 million tonnes. Officials in Kazakhstan said today that they plan to buy between 2.0 and 2.5 million tonnes of wheat from domestic farmers as a hedge against domestic food inflation. December Oats closed unchanged at 274 1/2. This was 4 1/2 up from the low and 1 1/2 off the high.