Chicago wheat futures turned higher midweek, recouping some of their steep losses from the previous session, as investor concerns that the Omicron coronavirus variant would derail the global economy began to ease, reports Reuters.
Corn and soybeans also regained ground on end-user buying, traders said, following hopes of export buyers looking for deals as soymeal futures led the soy complex higher on the day.
But futures paired gains late in the session, after a government official announced that the first U.S. case of the Omicron variant of COVID-19 has been detected in California.
CBOT soybeans closed the day up 11 cents at $12.28-1/4 a bushel, while most-active January soymeal closed $7.30 higher at $349.10/ton.
