March Wheat finished up 4 1/4 at 867, 4 1/4 off the high and 11 1/2 up from the low. July Wheat closed up 4 1/2 at 925 1/2. This was 12 3/4 up from the low and 3 1/2 off the high. March wheat closed 4 1/4 cents higher on the session and up 13 1/4 cents for the week. Speculative buying increased once news released that Egypt’s president was stepping down and protesters calmed. After the early bounce, the market moved sharply lower on the day led by continued long liquidation selling after yesterday’s weak close and concerns with potential instability in Egypt. The news that the shift in power is ongoing sparked strong buying in wheat on expectations that demand will be stronger if the country can avoid a violent transition of power. Egypt bought 170,000 tonnes of soft wheat for April shipment with 55,000 tonnes of the total coming from the US, 55,000 from Australia and 60,000 tonnes from Canada. The hard wheat tender was cancelled. Tunisia is tendering to buy 50,000 tonnes of soft milling wheat. March Oats closed down 1 at 418. This was 6 1/2 up from the low and 5 off the high.

Bron: CME