May Wheat finished down 2 3/4 at 478 3/4, 4 1/2 off the high and 3 1/4 up from the low. July Wheat closed down 3 at 491 1/2. This was 2 3/4 up from the low and 4 1/2 off the high.

    The May wheat contract chopped to fractional losses overnight and then added slightly to those losses in the day session. May wheat pushed to below yesterday´s lows, but traders said that the market was supported by a lack of selling into the new lows for the year. Funds were moderate sellers on the day with some support noted from spreaders versus a sharply lower soybean market. Weekly export sales came in near the high end of trade expectations, and this was also considered supportive. The biggest buyer was Nigeria. Net sales were 407,900 tonnes for the current marketing year and 40,500 for the next marketing year for a total of 448,400. As of March 4th, cumulative wheat sales stand at 89.0% of the USDA forecast for 2009/2010 versus a 5 year average of 88.7%. Sales need to average 194,000 tonnes each week to reach the USDA forecast.

    May Oats closed down 1 1/2 at 216 1/2. This was 4 1/2 up from the low and 4 1/4 off the high.