Related Keywords: Agriculture Email Print | December Wheat finished up 27 at 738, 5 off the high and 32 up from the low. December wheat pushed below yesterday’s low during the overnight session, but the then surged into the start of the day session. The December contract made a series of further gains into early afternoon, trading and closing above yesterday’s high in the process. This came despite a report from the Buenos Aires Grains Exchange that pegged this year’s wheat plantings at 4.27 million hectares, up slightly from their previous estimate of 4.2 million. Sources there also noted that recent rains in Argentina have also improved the crop outlook now that the planting season has come to an end. Traders said that support came from a strong pace of export sales and tenders with an added boost from fund buying today. The USDA announced today that exporters had sold 200,000 tonnes of US hard red winter wheat to an unknown destination for delivery during 2010/11. France reported today that its soft wheat exports in July totaled a very strong 1.3 million tonnes, up 40% from July, 2009. The pace of exports continues to be very strong in Europe with the EU granting 943,000 tonnes of export licenses in the latest week. This takes the total for crop year so far to 4.3 million tonnes. Hard red winter wheat planting is underway on the Great Plains in the US and some areas there are in need of added soil moisture to promote seed germination and initial plant development. Farmers had hoped for more rain from this week’s tropical storm that pushed heavy rains into parts of Texas. December Oats closed up 10 3/4 at 314 3/4. This was 14 1/4 up from the low and equal to the high.Bron:CME