December Wheat finished down 17 1/4 at 555 3/4, 24 off the high and 1 3/4 up from the low. March Wheat closed down 17 3/4 at 576. This was 1 1/2 up from the low and 22 1/2 off the high.

The lower open in wheat met with early selling by funds followed by ongoing selling by locals and commission houses. This drove prices lower into early afternoon. However, wheat gained on corn on the day and Chicago wheat gained on KC. Japan is looking to buy 71,000 tonnes of wheat from the US and Canada, their second weekly tender since returning to the market last week after a one-month hiatus. The wheat market opened lower this morning following a sell-off in crude oil and stocks. Traders reported that volume was good on today's breaks with traders closely watching and reacting to declines in stocks during mid day. Demand is still said to be fair on export markets with Black Sea and UK origin being cited as major factors by cash market sources. The Baltic Dry Sea Freight Index fell again today. This is contributing to export sales, but shippers are also citing fears of potential declines in grain shipping business as well as fears of defaults by customers who bought wheat at higher levels.

December Oats closed down 8 at 284. This was 3/4 up from the low and 10 3/4 off the high.