U.S. wheat prices have surged to three-year highs as China, attracted by competitive prices, entered the market to make rare purchases. The most-active CBOT wheat settled higher for an eighth consecutive session, marking the longest winning streak since April 1986. The surge, driven by China's increased import intentions and a competitive pricing advantage, has seen wheat prices rise almost 19% from late September lows. Despite speculators maintaining an extremely bearish stance on CBOT wheat, China's import momentum and concerns about wheat quality have contributed to the unusual market dynamics.

SOURCE:GOOGLE