May Wheat finished up 1 at 811 1/4, 20 1/2 off the high and 15 up from the low. July Wheat closed down 1 at 839 3/4. This was 14 3/4 up from the low and 18 1/2 off the high. May wheat closed 1 cent higher with a 35 1/2 cent range. The market surged higher shortly after the opening as traders indicated active wheat/corn spreading and supportive export news. The early rally pushed the market to the highest level since February 22nd before selling emerged to drive the market lower on the day into the mid-session. Traders see the weather outlook in the US as supportive to the market but the sharp break in corn after July corn posted new highs for the move overnight was seen as a negative development for the grain markets to help pressure the market. The USDA announced that "unknown" destination bought 220,000 tonnes of US hard red wheat. May Oats closed up 1/2 at 390. This was 5 1/2 up from the low and 4 off the high.

Bron: CME