Related Keywords: Agriculture Email Print | September Wheat finished up 23 at 675 1/2, 2 3/4 off the high and 22 1/2 up from the low. December Wheat closed up 23 at 708 3/4. This was 23 up from the low and 3 1/4 off the high. December wheat rallied sharply today, wiping out yesterday’s big loss in the process and closing at the highest level since August 23rd. Traders said that strong export demand and outside markets were behind today’s gains. The dollar was sharply lower and this improves the competitive position of US wheat on world markets. Egypt bought 225,000 tonnes of US wheat on its latest tender with delivery scheduled for mid October. This followed news earlier this morning that a German milling company had bought 20,000 tonnes of US hard red spring wheat, the first such purchase from Germany in three years. Germany is suffering from a late, wet harvest that is expected to sharply reduce the quality of this year’s wheat crop, and bring further imports of higher quality milling wheat from France and the US during the remainder of the 2010/11 crop marketing year. Tunisia is also tendering for 50,000 tonnes of soft wheat along with 50,000 tonnes of durum for delivery in October and November. The Rosario Grains Exchange in Argentina forecast this year’s wheat crop at between 9.0 and 10.5 million tonnes today. Last year’s drought-stressed crop was estimated at about 7.5 million tonnes. Planting has just been completed for wheat in Argentina. Iraq also announced this morning that it intended to start issuing tenders for wheat and rice in October. December Oats closed up 3 at 279 3/4. This was 1 1/2 up from the low and 3 3/4 off the high.Bron CME