March Wheat finished up 4 at 797 1/4, 10 3/4 off the high and 4 3/4 up from the low. July Wheat closed up 3 at 849 1/4. This was 3 up from the low and 10 1/4 off the high. March wheat closed higher on the session but more than 10 cents off of the early highs. More flooding concerns in Australia and continued dryness in the central plains helped to provide support. A more aggressive import pace from key importers on the world market with talk of more urgency for the new tenders helped to support higher trade early in the session with new crop July wheat moving to the highest level since September of 2008. Iraq issued a tender to buy at least 100,000 tonnes of wheat from any origin for shipment in February. Aggressive buying from Algeria, Turkey and others in the past week plus talk that Australia wheat could suffer further quality issues because of recent flooding rains also helped support strong buying and higher prices. A turn lower in corn and the stock market helped ease the buying support after the early surge but the market held on to part of the early gains into the close. Argentina farmers are continuing their 5-day protest over taxes which has brought wheat and other grain shipments to a standstill this week. March Oats closed down 11 1/2 at 386 1/2. This was 1 1/2 up from the low and 17 off the high.

Bron: CME