July Wheat finished up 26 1/2 at 861 1/4, 3 3/4 off the high and 19 1/4 up from the low. September Wheat closed up 27 3/4 at 902 3/4. This was 20 up from the low and 2 1/4 off the high. July wheat closed sharply higher on the session and to the highest close since February 18th. Continued concerns with deteriorating crops for the winter wheat crop and a lack of planting progress for the spring wheat crop have helped support. The early rally pushed the market to the highest level since March 7th as hot and dry weather is expected to continue to stress the crop in the southern plains wet and cold weather is expected to keep spring wheat planting progress behind normal. July KC wheat led the rally and was up as much as 31 1/4 cents into the mid-session. Weekly export inspections came in at 28.0 million bushels which was about as expected and down from 37.09 million last week. Cumulative shipments have reached 85.6% of the USDA forecast for the season as compared with 87.5% as the 5-year average for this time of the year. Dry weather in Europe and only scattered rains in China wheat areas are other weather factors which might help provide some support. Iraq bought 300,000 tonnes of US and Australia wheat this morning which was also seen as a supportive force. The spring wheat crop was only 5% planted last week as compared with 12% normal but state officials in North Dakota see May 5th as the average fieldwork start date this year as compared with April 18th last year so traders expect slow progress for tonight’s report as well. May Oats closed up 10 1/2 at 407 1/2. This was 6 1/2 up from the low and 2 off the high.

Bron: CME