U.S. Wheat rose sharply on Monday, reaching trading limits, driven by higher demand and export sales.
Egypt's General Authority for Supply Commodities bought 490,000 metric tons of wheat, including 180,000 tons of U.S. soft red winter wheat.
In addition, the U.S. Department of Agriculture said export sales of wheat for the week ending on January 10 were 404,800 tons.
Wheat futures for March gained 14 cents, or 1.5 percent to reach $9.405 per bushel on the Chicago Board of Trade.
Wheat reached the 30 cent trading limit at $9.565 per bushel before dropping later.
Spring wheat on the Minneapolis Grain Exchange closed at $11.3775, the trading limit for the day.
Wheat for March at the Kansas City Board of Trade also reached the limit before dropping to $9.815 per bushel.