# Wheat futures advance one percent in American trade

> Wheat futures rose nearly 1% in US trade as the dollar index climbed to its highest since August 17. Markets were reacting to a lack of US data and a USDA report that cut the US winter wheat harvest estimate by 24% from 2016. Traders also reacted to Fed officials' remarks, which raised odds of a December rate hike to 78%.

- Date: 2017-10-03 · published 2017-10-03T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/10970-wheat-futures-advance-one-percent-in-american-trade
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A sharply lower US winter wheat crop tightens supply and supports wheat prices, while a stronger dollar and higher rate-hike odds partly offset that support.

## Read by commodity

- DXY: bullish ▲
- WHEAT: bullish ▲

## Sources

- economies.com: https://www.economies.com/forex/news/wheat-futures-advance-one-percent-in-american-trade-20780

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.