Wheat prices add over two percent as dollar plumbs one-month low

Wheat futures rose over two percent in American trade as the dollar index tumbled to lowest since May 6 according to their inverse relation, which follows some earlier data from the U.S., the world's largest wheat producer and exporter. 

As of 08:13 GMT, wheat futures due on July 16 jumped 2.06% to $519.50 a bushel from the opening price of $509.00, with an intraday high at $524.00, and a low at $506.00. 

On the other hand, the dollar index, measuring the greenback's performance against six major rivals, fell to 93.60 from the opening of 93.87, with a session-high at 93.89, and a low at 93.42. 

Earlier data from the world's largest economy showed a rise on the JOLTS Job Openings to 5.79 million, compared to April's 5.67M, while Fed Chair Janet Yellen gave a speech earlier in the week in Philadelphia asserting the possibility of a rate hike soon because "positive economic forces triumph the negative ones" in the U.S. currently, and the risks threatening the economy sine the start of the year have largely diminished.