COM - Wheat futures jump 3% as India weighs export restrictions

Chicago wheat futures scored their biggest gain a nearly a month on Wednesday following reports that India, a major world producer, is considering restricting exports due to a drought that threatens its output. CBOT wheat for July delivery (W_1:COM) jumped as much as 4.2% before settling +3% at $10.76 1/2 per bushel, its biggest daily gain since April 8, while July soybeans (S_1:COM) ended +0.6% to $16.40 1/2 and July corn (C_1:COM) closed +0.2% to $7.94 1/4. ETFs: (NYSEARCA:WEAT), (SOYB), (CORN) Wheat gained on reports that India may curb wheat exports, which were later refuted by top food ministry officials, according to Reuters, although recent heat waves have substantially damaged the country's production, damping its export ambitions. India cut its wheat production forecast to 105M metric tons from 111.3M tons estimated in February, potentially marking the country's first drop after five straight years of record harvests. "A wheat crop less

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Wheat futures jump 3% as India weighs export restrictions