December Wheat finished down 15 at 497 1/4, 18 off the high and 3/4 up from the low. July Wheat closed down 14 1/2 at 541 3/4. This was 3/4 up from the low and 15 1/2 off the high.

Favorable planting and growing weather combined with moderate fund selling today to send the wheat market substantially lower. Traders said that weaker energy markets contributed to selling today along with ideas that the flow of investor funds into commodities may be slowing. Warm weather in Canada is also expected to advance harvest progress there. The government of Saskatchewan reports mixed harvest progress over the past week with some areas seeing favorable dry weather and others being delayed by snow. Spring wheat in Saskatchewan is now 80% harvested with durum wheat at 92% harvested. Traders said that the primary negative factor in terms of crop development may be a downgrade of the wheat crop in New South Wales, Australia. Traders said that a sell off in corn and soybeans also added to the negative tone in wheat. Funds were light sellers in the early going today in wheat, corn and soybeans.

December Oats closed down 1 3/4 at 254. This was 1 up from the low and 2 1/2 off the high.