Wheat prices settle lower in American trade

Wheat futures tilted lower in American trade, shrugging off the dollar's dip, which follows a spate of data from the U.S., the world's second largest wheat producer.
 
As of 08:03 GMT, wheat futures due on March 16 fell 0.53% to $424.50 a bushel from the opening price of $426.75, with an intraday low at $423.00, and a high at $428.75, while the dollar index shed 0.21% to 100.14 from the opening of 100.26.
 
Earlier data from the world's largest economy showed the house price index up 0.5% in November, passing expectations of 0.4%, and compared to October's 0.3% rise, while investors await the U.S. GDP data for the fourth quarter on Thursday, expected to show a 2.1% growth, down from 3.5% in the third quarter, while durable goods orders are forecast to have risen 2.7% in December, compared to a 4.5% drop in November.

The final reading for the University of Michigan consumer confidence survey is expected to show gains, ahead of personal spending and income data for last month.