March wheat traded 8 3/4 cents higher late in the overnight session. Outside market forces look supportive this morning with a sharp break in the US dollar and strength in energy and metal markets. Ideas that the euro debt crisis concerns could ease in the weeks just ahead has helped to spark a more positive tilt to the global economy this morning. In addition, news that the US received at least some of the Egypt tender business over the weekend helped to support. Egypt announced a tender after the close Friday and on Saturday bought 55,000 tonnes of US soft red winter, 300,000 tonnes from France and 240,000 tonnes of wheat from Argentina. March wheat closed 16 cents lower on the session Friday and fell 30 3/4 cents for the week. Bearish outside market forces with a surge up in the US dollar and weakness in the other commodity markets helped to pressure the market early. The set-back pushed the market down to the lowest level since January 24th. Follow-through technical selling after the bearish USDA news Thursday added to the selling pressure. Record high world ending stocks and hefty soft red wheat stocks helped to pressure. The Commitments of Traders reports as of February 7th showed Non-Commercial traders were net short 37,737 contracts, an increase of 885 contracts for the week. Non-Commercial and Nonreportable combined traders held a net short position of 58,484 contracts, a decrease of 2,518 contracts for the week and the short-covering trend is somewhat positive. Commodity Index traders held a net long position of 210,595 contracts.