Wheat prices slide one percent to below $400 a bushel

Wheat futures fell over one percent in American trade as the dollar index rose according to their inverse relation, which follows a spate of economic data and developments from the U.S., the world's largest wheat producer and exporter. 

As of 07:58 GMT, wheat futures due on December 16 slid 1.05% to $399.00 a bushel from the opening price of $403.25, with an intraday low at $397.75, and a high at $406.75. 

On the other hand, the dollar index, gauging the greenback's performance against an array of six major counterparts, rose to 95.55 from the opening of 95.38, with an intraday high at 95.68, and a low at 95.33. 

Earlier data from the U.S. showed the final GDP growth reading at 1.4% in the second quarter, up from 1.1% in the second reading, and beating expectations of 1.3%, while the final reading for GDP prices settled at 2.3%, matching expectations and the second reading, while unemployment claims for the week ending September 24 came at 254 thousand, up from 251k in the previous reading, while beating expectations of 260K. Continuing claims on the other hand for the week ending September 17 fell to 2.062 million from 2.108M, besting forecasts of 2.129M.