Wheat rises for first session in three, dollar climbs from 3-month trough

Wheat futures rose in American trade off January 3 lows, while the dollar index inched higher from October 16 lows for the fourth session out of five, following earlier data from the US, the world's second largest wheat exporter, and as the government shutdown in America is in its fourth week. 

As of 06:58 GMT, wheat futures due in March rose 0.34% to $5.1275, while the dollar index added 0.13% to 96.06 off three-month lows. 

Earlier US data showed import prices fell 1.0%, compared to a 1.9% drop in November, while beating estimates of a 1.3% drop, as an index tracking the housing sector widened to 58 from 56.  

Markets now await the Beige Book, which is released two weeks before the Federal Reserve's meeting and upon which, policymakers base their decisions and forecasts. 

The US Department of Agriculture reported inspections of 545.8 thousand tonnes of wheat product destined for export in the week ending January 10, compared to 263.9 thousand in the previous week, with total inspected product for the marketing year so far amounting to 13.5 million tonnes, down from 15.2 million in the same period of last year.