# Wheat futures rally two percent in shrug to dollar's advance

> Wheat futures rose nearly 2% in US trade to $4.6150 as the dollar index climbed to its highest since August 22. The move followed US durable goods and pending home sales data, and Fed Chair Yellen's remarks on gradual rate hikes that raised December hike odds to 70%. Markets were awaiting the USDA grain report on Friday, which was expected to cut the US wheat estimate by about 21 million bushels.

- Date: 2017-09-27 · published 2017-09-27T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/68996-wheat-futures-rally-two-percent-in-shrug-to-dollar-s-advance
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A stronger dollar normally weighs on dollar-priced grains, but the expected USDA cut to US wheat supply pushed futures higher anyway. Feed buyers should note that the supply downgrade is currently outweighing currency pressure.

## Read by commodity

- DXY: bullish ▲
- WHEAT: bullish ▲

## Sources

- economies.com: https://www.economies.com/commodities/wheat-news/wheat-futures-rally-two-percent-in-shrug-to-dollars-advance-20743

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