December Wheat finished up 10 1/2 at 642 1/2, 4 1/4 off the high and 12 up from the low. March Wheat closed up 11 3/4 at 677 1/2. This was 13 up from the low and 2 1/2 off the high. December wheat closed 10 1/2 cents higher on the session and just a few cents off of the early highs. More talk that China may be buying Australia wheat helped to support the rally and strength in the other grains helped support as well. The market saw a decent rally early in the session led by outside market forces and strength in the other grains but the rally fell short of Friday’s early highs and the market was trading moderately higher on the day into the mid-session but down from the early peak. Weekly export inspections came in at 17.4 million bushels which was near the low end of trade expectations. Weekly exports need to average 18.4 million bushels each week to reach the USDA projection. Some traders are increasing their export outlook out of Australia to above 20 million tonnes as compared with recent USDA forecast of 19 million. Egypt has removed ban on Ukraine imports so Ukraine will be involved as an origin in the next tender. Syria is in the market for 100,000 tonnes of wheat and Jordan will be in the market for 100,000 tonnes tomorrow. A surge higher in January rice to the highest level since September 22nd added to the positive tone. The US dollar pushed to a new low for the move during the session and down to the lowest level since September 8th which helped to support. December Oats closed up 4 at 341. This was 3 1/4 up from the low and 4 off the high.

Bron: CME