Wheat prices up? Wheat prices in Chicago are recovering on Friday after falling to a 6-month low on Thursday. However, the rally remains constrained by weak export demand and expectations of higher exports from the Black Sea region, analysts said.

Corn is also rising in price, while soybeans are down in price on forecasts of continued precipitation in the Midwest. Wet weather is easing fears of a potential drought, unfavorable for crop ripening, traders added. A stronger dollar is also holding back the CBOT rally, making grains more expensive for buyers in export markets.

At 3:45 p.m. GMT, CBOT’s most actively traded wheat futures rose 17 3/4 cents to $7.66 3/4 a bushel after falling Thursday to their lowest since Feb. 3. Corn added 7 1/2 cents, to $6.23 1/4. Soybeans were down 5 cents, to $14.00 1/4. Analysts are predicting a further rise in wheat prices now.

Earlier we reported that Bloomberg reported a 30% increase in global cotton prices today.