Wheat prices fall over one percent in American trade

Wheat futures shed over one percent in American trade as the dollar index rose to a 14-year peak according to their inverse relation, which follows a basket of data from the U.S., the world's second largest wheat exporter.
 
As of 08:13 GMT, wheat futures due on March 16 fell 1.50% to $411.75 a bushel from the opening of $418.00, with an intraday low at $408.00, and a high at $4178.25, while the dollar index rose 1.24% to 103.03 from the opening of 102.51.
 
Earlier data from the world's largest economy showed consumer prices up 0.2% in November, matching expectations but down from 0.4% in October, while core prices rose 0.2%, up from October's 0.1%, and matching expectations. On a yearly basis, consumer prices rose to 1.7% from 1.6%, matching expectations, while core prices rose 2.1%, same as before, and below expectations of 2.2%. Additionally, the Philly manufacturing index surged to 21.5 in December from 7.6, while analysts expected 9.1.
 
On the same note, unemployment claims fell to 254 thousand in the week ending December 10, compared to 258K in the previous reading, while analysts expected 255K, while continuing claims rose to 2.018 million from 2.007M, above expectations of 2.003M. The  current account  registered a deficit of $113 billion, down from $120B, while analysts expected a deficit of $111B, while the Empire Estate manufacturing index rose to 9.0 in December from 1.5, besting expectations of 3.2.  Also, the manufacturing PMI rose to 54.2 in December from October's 54.1, revised higher from 53.9, and matching expectations, while the S&P House Price Index rose to 70 from 63.