Persistent concerns about the wheat supply are helping Chicago futures recover this morning from deep losses from last session caused by fears about a new variant of COVID-19 and its impact on the global economy.
Soybean futures are also rising again after five sessions of falling prices, while corn is rising for the first time in three days.
Wheat markets hit a nine-year high in Chicago in November as the possibility of further Russian export restrictions and the risk of rain damage to Australia's crops fueled fears of scarce wheat supplies.
Asian stocks rebound from an annual low this morning while US stock futures and oil rebound from the previous day's sell-off, but uncertainty about the implications of the Omicron coronavirus variant has kept investors in suspense.
Source
Hansa Terminhandel GmbH