Wheat prices advance nearly two percent in American trade

Wheat futures rose nearly two percent in American trade, shrugging off the dollar's rise against a basket of rivals, which follows some data from the U.S., the world's largest wheat producer and exporter. 

As of 06:33 GMT, wheat futures due on July 16 rose 1.90% to $482.75 a bushel from the opening price of $473.75, with a session-high at $487.00, and a low at $472.75. 

On the other hand, the dollar index, which gauges the greenback's performance against a basket of six major counterparts, rose to 95.48 from the opening of 95.44, with an intraday high at 95.55, and a low at 95.15. 

Earlier data from the U.S. showed a rise of 173,000 new jobs in the private sector, adding to the 166K created in April, but below expectations of 174K. 

Additional data showed unemployment claims for the week ending May 28 falling by one thousand to 267 thousand, compared to 268K in the previous reading, and below expectations of 270K, while continuing claims for the week ending May 21 came at 2.172 million, up from 2.163M in the previous week, and above expectations of 2.152M. 

Traders await the all important payrolls report tomorrow, expected to show the creation of 159,000 jobs in the economy, and for the unemployment rate to drop to 4.9% in May.