Wheat prices rose on Wednesday, on forests for dry weather conditions in some areas of the US, which curb supply during the harvest of agricultural crops, and lifts prices.

Weather agencies forecast that the Midwest states should see some dry weather conditions, which will impact the quality and production of wheat, soybean and corn crops.

Otherwise, a French exporters group said that Algeria is changing its wheat import terms to allow imports from countries led by Russia.

The dollar index rose against a basket of currencies by 0.2% to 93.2 points as of 22:15 GMT, after it hit a high of 93.2 and a low of 92.7.

Wheat December futures rose 0.7% to close at $5.42 per bushel, after hitting a day high of $5.43 and a low of $5.33.

Most US stock indices closed lower on Wednesday, after the Federal Reserve's interest decision and forecasts.

The US Federal Reserve held the interest rate between zero and 0.25%, and signaled that it plans to keep near zero at least until the end of 2023.

The central bank raised its estimates for the GDP in 2020, and lowered its forecasts for the unemployment rate to 7.6% due to the rapid recovery of the economy during this summer.

The US retail sales index rose 0.6% in August, its third straight monthly increase, but came lower than forecasts of 1.1%, vs. 0.9% in July.

Federal Reserve Chairman Jerome Powell confirmed the bank’s ability to support the US economy to return to its growth path, adding that Fed remains committed to using full range of tools.

To the oil market, WTI crude October futures (NYMEX) rose 4.9% or $1.88, to close at $40.16 a barrel, after it hit a high of $40.1 and a low of $38.3.

Brent November futures rose 4.2% or $1.69, to $42.22 a barrel, with a high of $42.2 and a low of $40.5.

As for stocks, Dow Jones rose 0.1% or 36 points to close at 28,032, after it hit a day high 28,364 and a low 28,021.

Nasdaq rose 1.2% or 140 points to 11,050, after it hit a high 11,245 and a low 11,046.

S&P 500 rose 0.5% or 15 points to 3,385, after it hit a high 3,429 and a low 3,384.

Silver prices held on Wednesday, as the US dollar rose against most major currencies, after the market digested the Federal Reserve’s decision and strong US data.

The US Federal Reserve held the interest rate between zero and 0.25%, and signaled that it plans to keep near zero at least until the end of 2023.

Federal Reserve Chairman Jerome Powell confirmed the bank’s ability to support the US economy to return to its growth path, adding that Fed remains committed to using full range of tools.

The dollar index rose against a basket of currencies by 0.2% to 93.2 points as of 21:37 GMT, after it hit a high of 93.2 and a low of 92.7.

The US retail sales index rose 0.6% in August, in its third straight monthly increase.

Silver December futures rose by less than 0.1% to settle at $27.476 an ounce, after hitting today's high at $27.705 and the low at $27.055.

The British pound rose against the US dollar on Wednesday, thanks to upbeat consumer price data.

The data showed that the British consumer price index rose 0.2% in August, and the core reading (excluding fuel and food prices) rose by 0.9%, beating forecasts of 0.7%.

The House Price index also rose by 3.4% in August, beating forecasts of 3.2%.

Meanwhile, uncertainty persist over the ongoing Brexit negotiations between the UK and the EU amid the lack of any agreement yet.

Earlier British Prime Minister Boris Johnson said that if no agreement is reached, the UK would have to accept a no-deal Brexit scenario.

GBP/USD rose 0.5% to 1.2957 as of 21:18 GMT, after the pair hit a high of 1.3008 and a low of 1.2875.