US wheat futures surge to multimonth highs amid geopolitical tensions

US wheat futures surged to multimonth highs on Feb. 27 as escalating geopolitical tensions triggered widespread fund short-covering and added volatility to a market that had been sidelined amid ample global supply. Chicago soft red winter wheat futures reached year highs for its front-month contract, which settled at 591.25 cents/bushel, while the front-month Kansas City hard red winter wheatUS wheat futures surged to multimonth highs on Feb. 27 as escalating geopolitical tensions triggered widespread fund short-covering and added volatility to a market that had been sidelined amid ample global supply. Chicago soft red winter wheat futures reached year highs for its front-month contract, which settled at 591.25 cents/bushel, while the front-month Kansas City hard red winter wheatRead More