Wheat futures at the Chicago Board of Trade were mostly lower early on Friday, led by profit-taking in the nearby contracts, traders said.
Wheat opened firm, yet traders said the market was vulnerable to continued volatility and occasional profit taking pressure as the trade attempts to find fair value for the dwindling volume of global wheat stocks. At 10:07 am CDT (1507 GMT), CBOT wheat was down 2-1/4 cents to up 4 cents, with December down 1 at $5.12 per bushel.