March Wheat finished down 15 at 774, 20 off the high and 2 up from the low. July Wheat closed down 7 1/4 at 821. This was 4 up from the low and 11 1/2 off the high. March wheat closed 15 cents lower on the session and down 20 1/4 cents for the week. The market was at the highest level since August 6th early on Monday and closed at the lowest level since December 21st. The strong US dollar and continued weakness in other commodity markets along with concerns that index funds will be active sellers in the next week helped to push the market sharply lower on the day into the mid-session. Traders see snow ahead of the cold weather in the plains as a slightly negative force. Ideas that the US might benefit with increased export sales ahead due to a tight supply of higher quality wheat on the world market helped to provide underlying support. Dry weather in China was offset by talk of a better than expected wheat harvest from Argentina and speculative long liquidation selling. After the close, Egypt announced tenders for soft white wheat, soft wheat, milling wheat and hard wheat from various locations. March Oats closed down 7 at 370 3/4. This was 3/4 up from the low and 6 1/4 off the high.

Bron: CME