(April 9): Wheat futures have moved higher in the face of growing signs of fragility in the ceasefire pact between the US and Iran in the Middle East, with any reigniting of tensions likely to threaten further supply chain disruptions and price rises for vital farm inputs. Wheat is a nitrogen-intensive crop, making it especially vulnerable to supply disruptions in the Strait of Hormuz, one of the world’s major trade corridors for fertiliser. “So that is why wheat is outperforming corn and soybeans on the ‘risk on’ move we have seen since the ceasefire lows.”Leading wheat futures rose by as much as 0.7%, clawing back some of the sharp losses sparked by market relief over Wednesday’s ceasefire. The release of the USDA’s latest World Agricultural Supply and Demand Estimates report on Thursday is also expected to show a drop in US wheat stockpiles, according to a survey of analysts. Prices:Wheat was 0.7% higher at US$5.84 (RM23.23) a bushel as of 12.31pm in SingaporeCorn gained 0.3% to US$4.485 a bushelSoybeans was steady

Source: The Edge Markets April 09, 2026 05:52 UTC