The Hightower Report said, “Wheat was the star performer on Friday and extended the gains overnight to their highest level since July 11 of last year. Geopolitical risk in the Mideast is the major bullish driver along with strong technical action. CFTC data showed the managed money net short was decreased to a 3 year low of just over 17,000 contracts in Chicago and funds flipped to the long side in Kansas City. A second consecutive strong monthly close in Chicago wheat is a clear sign the technical outlook significantly improved in February.” Amanda Brill at Total Farm Marketing said, “Over the weekend, both the US and Israel conducted military strikes on Iran which prompted Iran to retaliate by striking US bases and other areas like the UAE. This has caused oil prices to spike higher, and wheat tends to follow moves in crude oil.”