Wheat prices rose after the report showed lower-than-expected U.S. and global stockpiles, overcoming pressure from a soaring U.S. dollar thanks to short-covering by investors. USDA projected U.S. wheat inventories as of May 31, at 691 mil bu lower than Feb estimate of 692 mil. World-wide, wheat supplies this year will reach 197.7 mil mt, modestly lower than February's estimate of 197.9 mil. May Wheat rose 4 cents, or 0.8%, to $4.94 a bushel.