September Wheat finished up 20 1/2 at 615 1/2, 7 3/4 off the high and 23 1/2 up from the low. December Wheat closed up 20 at 647. This was 23 up from the low and 6 3/4 off the high.

    December wheat posted substantial gains overnight before adding to the day´s highs in the first minutes of the day session and again in late morning. This pushed the December contract to its highest level since December 1st, 2009, and it traded within a few cents of the highs for November, 2009. The September wheat contract posted an even stronger gain and advanced to a new 13-month high on the nearby continuation chart. Traders said that concern over a drop in wheat exports by Russia was the catalyst for today´s rally. The USDA´s July estimate of Russian wheat exports for 2010/11 was 15.0 million tonnes. This is down from 17.5 million in 2009/10 and 18.39 million tonnes in 2008/09. A crop tour of spring wheat and durum growing areas is underway this week with results expected on Thursday. Egypt said today that it will allow France to load individual wheat cargos at two ports, if the shippers pay for added freight costs. France had previously been restricted to loading at one port in order to facilitate maintenance of Egypt´s stricter quality standards. Morocco is tendering for 140,000 tonnes of US durum wheat.

    December Oats closed up 11 1/4 at 269 1/4. This was 11 1/4 up from the low and 2 1/4 off the high.