December wheat opened 18 1/2 cents higher on the day at 582 and established an early range of 580 to 595. Traders indicate that the higher open and higher trade overnight came on short covering along with the reversal of recent trends in stocks, the dollar and crude oil. Locals and funds were buyers on the open to take the December contract substantially higher into early mid session. Wheat gained sharply on corn in active trade by spreaders. Egypt was in the market again and has reportedly bought US wheat for the second week in a row after not buying US wheat on prior tenders. They bought 120,000 of US soft red wheat and an additional 145,000 tonnes from Russia for a total of 265,000 tonnes. Jordan also announced a tender for 100,000 tonnes of hard red wheat which is helping to maintain the active pace we have seen on the wheat tender calendar over the past 2 weeks. The Argentine wheat belt received good rains with widespread coverage over the weekend. Amounts were up to 1 1/2 inches. Australia got scattered rain in a number of wheat-producing areas in recent days as expected, but the driest areas in the SE did not see any rain. This week's Export Inspections Report will be out a day late due to the Columbus Day Holiday. Crop Progress Reports will also be delayed until tomorrow. Basis levels for Soft Red Wheat at the Gulf rose again last week to their highest levels since late May.