Wheat Futures Bounce Off Four-Week Low Amid Global Supply Concerns

Wheat futures rose to around $6.40 per bushel, remaining above a four-week low of $5.93 reached on August 6.

The global supply concerns outweighed improved crop prospects in Australia, where timely rainfall across key growing regions boosted yield expectations.

Grain exports from the Black Sea region have been disrupted by intensified attacks on port infrastructure linked to the Russia, Ukraine war.

Severe heatwaves across the US, Canada, and Europe have heightened concerns over crop yields and quality.