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Wheat Rallies from Two-Month Low

Corn and soybean futures also advanced

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US wheat futures rose on Wednesday, rebounding from a near two-month low with support from a broad rally in commodities and Wall Street equities tied to optimism that the coronavirus epidemic will be contained, traders said.

Corn and soybean futures also advanced, Reuters reports.

The U.S. Department of Agriculture (USDA) in a monthly report on Tuesday trimmed its forecast for 2019-20 world wheat ending stocks to 288.03 million tonnes, nearly unchanged from 288.08 million previously. Analysts surveyed by Reuters on average had expected a bigger reduction to 287.44 million tonnes.

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