Wheat volatility picks up

The wheat market has been nothing short of a rollercoaster of volatility over the 2018 crop year. The trading range in the CBOT wheat futures market has been widening as it rose to new highs in early August and fell by almost 95 cents per bushel of over 15 percent later in the month, says the Hecht Commodity Report.
Wheat is the primary ingredient in the flour that is necessary to make bread. Most people believe that crude oil is the most political commodity in the world because half of the world's reserves are in the turbulent Middle East.
However, over history, the availability of wheat has an agent for lots of political change. Sudden price rises in the grain or the lack of availability at times sparked revolutions as bread is an essential food product that provides nutrition for people around the world.