In other commodity markets, coffee prices edged higher after truckers in Colombia called for a strike. Oil prices rose on optimism that world oil exporters might seal a deal later this month to trim the world oil supply glut.

Pakistan's wheat purchase, after the US credits were quickly activated late last week ahead of the tender, underscored the abundant supplies of wheat worldwide and the continuing buyer's market for that commodity, the number-one traded grain in international markets.

At the Chicago Board of Trade, wheat for delivery in May closed 4-1/4 cents a bushel lower at $2.65-3/4, retracing gains made a day earlier on hopes for the Pakistan business.

Weather for wheat crops continues to be generally good, and wheat prices have flirted with 20-year lows since the beginning of the year. The realproblem continues to be a weaker export demand for grains due to economic problems in east Asia, Russia, Latin America and other areas.

The US Government has stepped into the breach to buoy that demand somewhat with food aid shipments. The government announced that it would buy another 7,11,400 metric tonne of US wheat on March 15, and would donate it to foreign countries.

Other grain markets fared better than wheat, with corn up on drought problems in South Africa, a competing exporter. May corn closed 1/2 cent a bushel higher at $2.21-1/4.

Soybeans continued to be buoyed by soybean oil, which drew speculative buying on signs of a pickup in world oilseed and vegetable oil demand. A stronger tone to Brazil's currency, the real, also helped ease concern that this African country will flood world markets with cheap commodities to buttress its economy.

May soyoil closed 0.55 cent a pound higher at 18.81 cents while May soybeans rose 1-1/2 cents a bushel to $4.72-1/2.

At the New York Board of Trade,coffee prices edged higher on news that truckers in Colombia planned to launch an indefinite strike. Colombia is the second-ranking coffee exporter, and significant transport strikes can slow the movement of coffee to ports. May coffee closed up 2.05 cents a pound at 106.15 cents.