Wheat prices rebounded, breaking a 4-day losing streak, amid signs of increased global demand for cereals.
Egypt, Tunisia, and Algeria are seeking grain on the global market, with Egypt receiving multiple offers. As demand grew, wheat supplies became in doubt as fighting between Russia and Ukraine escalated at the vital agricultural hub on the Black Sea.
Meanwhile, in Canada, a major farmer, drought has hurt crops, and production is expected to be about 14 percent lower than last year's crop.
Source (Al-Arabiya.net Website, Edited)
