December Wheat finished down 6 at 704, 19 off the high and 2 1/4 up from the low. March Wheat closed down 6 at 744. This was 2 up from the low and 18 1/2 off the high. December wheat traded at mostly higher levels overnight and at mostly lower levels during the day session. This came as the dollar staged a steady rally throughout the day and most commodity and equity market traded lower. The new crop July contract lost ground to nearby contracts amid forecasts of welcome rains in the Plains and in parts of the western Midwest into the end of the week. The EU cleared 501,000 tonnes of wheat for export in the latest reporting week, bringing the total for the marketing year so far to 8.8 million tonnes from 6.6 million cleared by this time last year. The USDA’s Export Sales report is due out tomorrow morning, one day late due to the Veteran’s Day holiday. Traders are looking for sales to be as high as 500,000 tonnes, in line with to somewhat higher than the average needed each week to reach the USDA’s current export projection. December Oats closed down 2 1/2 at 358 1/2. This was 6 up from the low and 2 1/4 off the high.

Bron: CME