Wheat prices hit a new high since March, traders are concerned about the tense situation between Israel and Iran.

Wheat prices rose to their highest level since March, with traders closely monitoring the ongoing tense situation in the Middle East. US President Donald Trump on Wednesday refused to disclose whether the United States plans to join Israel in military action against Iran. Trump met with his national security team on Tuesday to discuss the conflict, further fueling speculation that Washington may be preparing to join Israel's attack. Chicago wheat prices rose by 3.4% on Wednesday, reaching their highest level since March.