Wheat Market Sees Gains Amid Ongoing Conflict Concerns

The wheat market is experiencing gains on Wednesday's midday trading session. Chicago Soft Red Winter (SRW) contracts have risen by 8 cents, while Kansas City Hard Red Winter (HRW) futures are up 12 cents in the front months.

The Minneapolis spring wheat has also seen an increase of 4 to 5 cents at midday.

One concern for the market is the ongoing conflict between Russia and Ukraine, which has led to attacks on vessels and ports. This has raised concerns about the flow of exports out of the Black Sea.

In a separate development, Algeria has purchased an estimated 300,000 to 720,000 metric tons of wheat in a tender held on Wednesday.