December wheat opened 12 3/4 cents lower on the day at 872 and established an early range of 869 to 897 3/4. The weaker start attracted buying from various sectors of the market this morning including commission houses and funds. This took the market marginally higher into early mid session. Volume was said to be only moderate on the rally according to floor traders. Wheat lagged soybeans and corn in the early going. Pakistan has announced that it is postponing its latest 250,000 tonne wheat tender indefinitely. Traders said that this was a disappointment to the market to start the session this morning, but this may not be a signal of softening demand according to one analyst. He noted that Pakistan bought more than 400,000 tonnes on a similar-sized tender earlier this month, and the cancellation may be in response to political uncertainty after the resignation of President Musharraf yesterday. The Argentine wheat belt remains in serious need of rain with none expected there until the middle of next week. Australia is in somewhat better shape in its western growing areas, but starting to dry out again in the east and little or no rain is forecast in either region over the next 7 days. The soft red basis broke sharply at the Gulf and at some eastern belt and Ohio River locations yesterday due to the sharp run up in futures.