December Wheat finished up 23 1/4 at 834 1/2, 11 1/2 off the high and 29 1/2 up from the low. September Wheat closed up 23 1/4 at 811. This was 29 1/4 up from the low and 11 3/4 off the high.

The market opened slightly lower in line with corn and soybeans. The December contract rallied to higher on the day and then chopped sideways into early afternoon before surging to new highs during the final hour of trade. Chicago wheat gained on both KC and Minneapolis wheat today in the December contracts. Floor traders reported that funds were buyers of 2000 contracts into mid session. Volume was said to be light to moderate today with good activity reported again in the wheat/corn spread and increased volume on the late rally. Australia is expected to see more good rains in their western wheat belt over the next week which is considered beneficial to crops there. In contrast, Argentine wheat areas remain dry, with no rain of significance expected there over the next several days. In the US, the western spring wheat areas remain dry and hot with some scattered rain forecast next week. Basis levels for wheat are mostly steady to weak with buyers reporting ample supplies on hand due to harvest progress.

September Oats closed down 6 at 384. This was equal to the low and 9 off the high.