Wheat resumes decline off three-week high as dollar advances

Wheat futures rose over one percent in American trade off October 3 highs as the dollar index scaled October 9 highs, in a day that lacks data releases from the US, the world's second largest wheat producer and exporter. 

As of 07:58 GMT, wheat futures due in December fell 1.31% to $5.080 away from three-week highs, while the dollar index rose 0.31% to 96.01 to two-week highs. 

USDA Reports Wheat Sales 

The US Department of Agriculture recently reported wheat sales due for the marketing year 2018-2019 at 476.0 thousand tonnes for the week ending October 11, up 40% from the previous week. 

Bangladesh came at the top in the buyers list with 180 thousand tonnes, followed by Japan at 78.7 thousand, an unknown client at 76.1 thousand, Italy and Philippines at 35.5 thousand and 31.7 thousand respectively. 

The USdA alsp reported inspections of 451.0 thousand tonnes of wheat product destined for export in the week ending October 11, up from 447.6 thousand in the previous week, with total inspected product now amounting to 7.82 million tonnes in the marketing year starting June, down from 10.7 million in the same period of last year.