July Wheat finished up 4 at 775 1/2, 8 1/2 off the high and 9 3/4 up from the low. December Wheat closed up 3 3/4 at 809 3/4. This was 9 3/4 up from the low and 7 3/4 off the high.

Wheat opened higher this morning and gradually sold off during the morning before moving lower late in the morning. Prices firmed from late morning to close higher on the day. KC also finished higher but the July Minneapolis contract and July rice finished lower. Pakistan announced two tenders for total of 250,000 tonnes of wheat today. A senior agricultural official in Ukraine pegged their 2008 wheat exports at 8.7 million tonnes. The President of Ukraine is said to be considering lifting that country's restrictions on sunflower seed and grain exports. Traders said today that the first new crop grain shipments have just started leaving that country's Black Sea ports. The rise to record levels by the Baltic Exchange's ocean freight index is expected to benefit Black Sea exporters such as Ukraine in that shipping distances are shorter from there to major markets in North Africa than is the case for wheat shipped from the US. The US will provide 500,000 tonnes of food aid to North Korea over a 12-month period starting next month. Cash markets were featureless today.

July Oats closed unchanged at 394. This was equal to the low and 15 1/4 off the high.