Wheat futures recovered from Tuesday's 3.5% plunge amid buying by financial investors who were reevaluating the market amid U.S. weather concerns and changes in the world supply outlook. Prices for the grain sharply rose by investors short-covering whom refocusing on dryness in the U.S. Great Plains. Speculation over reduced availability of wheat supplies from Russia also supported the market, with reports that Russian government may raise the prices to farmers who sell crops domestically rather than to export markets spurring hope that the U.S. could see an uptick in export demand as a result.