December Wheat finished down 2 3/4 at 559 3/4, 12 1/2 off the high and 6 1/2 up from the low. July Wheat closed down 3 at 602 3/4. This was 5 1/4 up from the low and 13 off the high.

The wheat market sold off late in the overnight session and then spent most of the day session trading near the overnight lows. Traders said that a higher dollar index throughout the day kept the pressure on along with some spec liquidation ahead of the weekend. One trader indicated that, under the circumstances, today's sell off seemed relatively minor. Export demand for US wheat remains soft with total sales remaining well below the average pace on this week's Export Sales report. Traders said that this is because US wheat has become even less competitive with supplies from the EU and the Black Sea region in recent days and weeks. The western Australian wheat belt has experienced extreme heat recently and some analysts indicate that this could result in reduced production of about 500,000 tonnes to as high as 1.0 million tonnes.

March Oats closed down 1 1/2 at 271 1/2. This was 1 1/2 up from the low and 4 3/4 off the high.