Commodities
Exchange current wheat price rises amid active demand
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Chicago’s current wheat prices are rising on Wednesday, recovering from a one-week low reached earlier in the session. More active demand in the export market is offsetting concerns about increased supply caused by the resumption of Ukrainian grain exports.
Corn is trading higher, while traders continue to assess the chances of continued supplies from Ukraine and watch inconsistent weather conditions in the United States. Soybeans are also trading higher.
By 11:29am GMT, the wheat price chart for CBOT futures was up 1.9% to $7.89 1/2 a bushel.
Corn and soybean prices declined sharply during the previous two sessions as the departure of a ship carrying Ukrainian grain from the port of Odessa eased fears about the prospects of global supply. Meanwhile, U.S. crop estimates have exceeded expectations.
CBOT corn futures added 0.3% to $5.96 1/4 per bushel. Soybeans traded up 0.2 percent at $13.89.
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