March Wheat finished down 5 1/4 at 853 3/4, 11 off the high and 11 1/4 up from the low. July Wheat closed down 3 3/4 at 908 1/4. This was 11 3/4 up from the low and 8 1/4 off the high. March wheat closed 5 1/4 cents lower on the session but up 28 cents on the week and up 11 1/4 cents from the lows of the day. The market saw choppy and two-sided trade early in the session but pushed toward the lows of the day into the mid-session. A strong US dollar, weakness in energy markets and some jitters regarding talk of the overbought condition of the market helped to pressure. Traders see less panic buying on the tender wire and a slightly calmer situation in Egypt as somewhat negative. In addition, traders see the possibility of winterkill damage from this week’s cold blast but evidence of damage will not be available until the spring which may have sparked some selling pressures. July wheat was moderately lower into the mid-session with an inside trading day. Stats Canada pegged wheat stocks at the end of the year at 20.232 million tonnes from 22.524 million last year. This was in line with trade expectations. March Oats closed down 1/4 at 415 1/2. This was 4 1/4 up from the low and 5 off the high.

Bron: CME