Wheat prices rise nearly one percent ahead of the weekend

Economies.com
2017-03-24 18:25PM UTC

Wheat futures rose nearly one percent in American trade as the dollar index settled lower according to their inverse relation, which follows a spate of data from the U.S., the world's second largest wheat exporter. 

 

As of 07:16 GMT, wheat futures due on May 16 rose 0.95% to $425.00 a bushel from the opening of $421.00, with an intraday high at $426.245, and a low at $420.75, while the dollar index shed 0.12% to 99.64 from the opening of 99.76. 

 

Earlier U.S. data showed durable goods orders up 1.7% in February, slowing down from 2.0% in January, while analysts expected 1.1%, as core orders rose 0.4%, up from no change in January, while missing expectations of 0.5%. 

 

Additionally, the flash services PMI fell to 52.9 in March from 53.8, missing expectations of 54.9, while the manufacturing PMI fell as well to 53.4 from 54.2, missing forecasts of 54.9. 

 

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