December Wheat finished up 5 at 819 3/4, 5 1/2 off the high and 9 1/2 up from the low. September Wheat closed up 5 3/4 at 796 3/4. This was 9 3/4 up from the low and 5 3/4 off the high.

Wheat saw good volume today as it gained sharply on corn to continue a recent trend. Traders are noting that the winter wheat harvest is more than 70% complete and this may be allowing the standard post-harvest rally to commence. The December contract took out yesterday's low, which was the low for the move, during the first minutes of trade. It then moved to higher levels from mid-session through early afternoon before closing higher on the day. One trader said that wheat's gains were limited late in the day due to the sharp ongoing rally in the dollar. Wheat harvesting has been delayed for Germany's big crop due to widespread rains there. The western Australian wheat belt is expected to see scattered rain this week which will be beneficial. Wet weather in Hungary over the past 30 days has slowed harvest there and is raising minor concerns over quality. Japan bought 66,000 tonnes of wheat on its regular weekly tender. Iran is expected to resume imports of wheat soon and may book totals as high as 1 million tonnes a month according to reports from Iran that cite the Deputy Minister of Commerce. The CRB Index dropped to a new 7-week low this morning on the sell off in energy, grains and other markets.

September Oats closed up 1 at 387. This was 2 1/2 up from the low and 2 off the high.