Chicago wheat futures rose to nearly two-month highs due to the weakness of the US dollar.

Chicago wheat futures climbed to a near two-month high as the weakening dollar pushed up grain and oilseed futures, with traders also waiting for US export data to be released. The Bloomberg Dollar Spot Index approached a four-year low as so-called devaluation trades weighed on the dollar - investors are pulling out of the dollar and US Treasury bonds. The weakening dollar makes US agricultural exports more attractive. Wheat futures rose by 1.3% at one point, poised to achieve a third consecutive trading day of gains, potentially setting a record for the longest consecutive increase in a month. Corn and soybean futures also rose in tandem.