How the Wheat Market Performed on 3-24-2008

For May Wheat, it climbed by 32 1/2 to finish at 1020, finishing off its high of 42 1/4, but up by 32 1/2 from its low. July Wheat finished a little lower, ending at 1018 1/2, which was 36 down from its high, and up 45 from its low.

Traders on the floor said weather was one of the major factors today, as weather in the west and southwest continues to be dry in the hard red wheat areas, while wet weather persists in the south central and eastern soft red wheat areas.

With wheat having supply problems over the last year, Egypt announced via their agriculture minister that they were planing 3.2 million acres of wheat this year, the most they've planted in a decade.