Chicago wheat inched higher on Wednesday as a fall in the dollar after the U.S. midterm elections added support following concerns about U.S. crop conditions.
According to a report at Successful Farming, price movements in grain markets were limited, with corn and soybeans little changed, as investors looked ahead to Thursday's monthly crop forecasts from the U.S. Department of Agriculture (USDA), while also seeking more indications about a possible thawing in trade relations between Washington and Beijing.
A sharp fall in the dollar index on Wednesday also lent some support to wheat and other U.S. grains, making them cheaper for export.
The U.S. currency was pressured by the results from the midterm election, which yielded a politically divided U.S. Congress, dampening expectations for a further fiscal boost for the economy.
