December Wheat finished up 25 at 588 1/2, 6 1/2 off the high and 23 1/4 up from the low. March Wheat closed up 25 1/4 at 609. This was 21 up from the low and 5 3/4 off the high.

Wheat found active support from funds to support higher trade as funds were buyers of at least 2000 contracts through early afternoon. Wheat gained sharply on corn today with Chicago making slight gains versus KC. 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 Buenos Aires Grains Exchange said today that the Argentine wheat crop may be down 28% from last year. This compares to previous expectations of a 25% drop and confirmed further damage to the Argentine wheat crop due to the ongoing drought there. Rains in recent days are not thought to have greatly affected yields in the hard-hit central and northern wheat belt. 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.

December Oats closed up 14 1/2 at 293. This was 11 3/4 up from the low and 5 1/2 off the high.