After plunging precipitously, the Wheat price rebounded from the three-and-a-half-month highs. Reports that bad weather could harm Russia’s wheat crop and increased anxiety over supply interruptions after a drone attack at a Ukrainian stream port caused wheat to spike.

Although there were indications that wheat was at least forming a bottom, the three U.S. wheat futures exchanges were trading close to some of their lowest points in recent memory.

Front-month wheat futures increased by double digits at the start of the week. Prices for front-month spring wheat also saw notable gains, finishing the day up between 7 and 9 ½ cents.

Deciphering the complex dynamics of Wheat markets: unveiling global trends, supply glut, and price volatility impacting Futures and CFDs in the face of increased supplies, shifting production, and reduced demand forecasts.