December Wheat finished down 8 1/4 at 694 1/4, 18 off the high and 1 3/4 up from the low. March Wheat closed down 8 1/2 at 734. This was 1 3/4 up from the low and 18 1/4 off the high. December wheat opened higher and closed near the lows for the second session in a row. Weak news for export demand and an improving weather outlook were seen as factors which sparked increased selling pressure. A weak US dollar and news of declining crop conditions for the winter wheat crop helped support the higher opening but sellers were active early and the market quickly retreated to lower on the day before closing sharply lower and near the lows of a 19 3/4 cent range. The jump in gold and equity markets overnight added to the positive tone early. News that Egypt did not buy US wheat at their weekly tender combined with talk of better rain chances for the winter wheat growing regions in the longer-term weather forecasts were seen as factors which helped spark the selling. Egypt bought 230,000 tonnes of wheat at their tender from Argentina, Australia and France and none from the US. This was seen as a negative development. Traders expected to see an improving winter wheat crop this week but the weekly update showed crops rated in good to excellent condition at just 46% as compared to 47% last week and 64% last year. The lowest rated crop in the past 24 years prior to this year was 48% in 2001. December Oats closed down 1 at 362. This was 2 1/2 up from the low and 4 3/4 off the high.