Wheat prices surge on prospect of improving demand; metals, energy prices mixed

Wheat prices surge on prospect of improving demand

DENVER — Wheat prices are climbing on the prospect of improving demand.

Wheat prices had fallen nearly 90 cents a bushel over the past three months on reports of abundant supplies and moderate weather.

But prices bounced back Tuesday after Iraq purchased about 18.3 million bushels of wheat globally, including some from the United States. That boosted hopes in the market that demand was growing stronger.

Corn and soybeans also rose, but metals and energy prices ended mixed.