Wheat futures hit a six-week high, and many parts of the United States are hit by frost.

Chicago wheat futures rose to a six-week high as concerns about potential frost damage to winter crops in the United States intensified, with a destructive storm sweeping across much of the country. Large areas of the United States, including the plains and major wheat-producing regions in the Midwest, are currently under frost and storm warnings. This winter storm has increased the risk of damage to farmland, although the extent of the overall losses will take some time to become clear. Tobin Gorey, a strategist at Cornucopia Agri Analytics, pointed out in a report that preliminary assessments may be available "early this week" and added that widespread snowfall may help to protect some wheat crops from extensive damage. He said that the current uncertainty may limit the impact on prices in the coming days.