Global Wheat Futures Attempting Recovery From Around Five Month Low

7 Jul 2022 , 02:29 PM

Global Wheat futures are attempting a recovery from around five month low as risky assets moved up today in tune with a slight drop in the US dollar and bargain buying. The grain currently trades up 3% at $8.29 per bushel. The global recession talks are dominating headlines and there is still considerable concern on consumption demand. The market also eyed reports stating that Ukraine is holding talks with Turkey and the United Nations to secure guarantees for grain exports from Ukrainian ports, which could ease up some supplies and improve availability of the commodity in global markets. Powered by Commodity Insights