Wheat prices add over one percent in American trade

Wheat futures rose over one percent in American trade, shrugging off the dollar's surge to a nine-month high, which follows a basket of data from the U.S., the world's largest wheat exporter. 

As of 09:01 GMT, wheat futures due on December 16 gained 1.27% to $399.00 a bushel from the opening price of $394.00, with an intraday high at $402.00, and a low at $392.75, while the dollar index rose 0.5% from the opening of 99.74. 

Earlier data from the world's largest economy showed retail sales, which represent half the consumer spending, in turn constituting three quarters of the GDP, rose 0.8%, down from 1.0% in September, and matching expectations, while core sales rose 0.8%, up from 0.7% previously, and besting expectations of 0.5%. 

Additional data showed the Empire State Manufacturing index up to plus 1.5% in November from minus 6.8 in October, beating expectations of minus 1.5, while import prices rose 0.5%, up from 0.2% in September, and above expectations of 0.4%. Finally, business inventories rose 0.1%, down from 0.2% in August.