July Wheat finished up 14 1/2 at 822, 22 off the high and 18 up from the low. December Wheat closed up 13 3/4 at 856 1/4. This was 16 3/4 up from the low and 19 3/4 off the high.

July wheat opened higher this morning and consolidated briefly before moving sharply higher into mid session. Traders said that the extended rally in wheat came in response to new all-time highs in old crop and new crop corn as well as the limit up move in rice. There was also talk of a possible freeze in the Plains by one forecaster, although traders noted that Chicago wheat rallied much farther than KC wheat. KC trades the type of wheat that is grown on the Great Plains. Wheat sold off sharply after noon and closed near the middle of the day's trading range. Weekly export sales came in at a strong 178,800 tonnes for old crop and 312,900 for new crop. Sales of 167,700 tonnes are needed each week to reach the USDA's current export projection. Total sales to date stand at 98.0% of projected exports compared to a 5-year average of 95.3%. The EU issued export licenses for 236,000 tonnes of soft wheat this week which brings the total for the year to over 7.6 million tonnes. Some forecasters in Australia are calling for dry weather in eastern and southeastern wheat growing areas over the next 7 days with a chance of rain after that. Western areas are wetter and farther advanced than in the east. Tunisia bought 109,000 tonnes of wheat to complete a tender announced earlier this week.

July Oats closed down 1 at 414 1/2. This was 11 1/2 up from the low and 4 1/2 off the high.