Nearby wheat futures on the Chicago Board of Trade and the Kansas City Board of Trade turned lower at midmorning on Friday as firms took profits after values soared to fresh all-time highs, traders said.
As of 10:31 am CDT (1531 GMT), CBOT December wheat was down 3-3/4 cents at $7.80-3/4 per bushel. KCBT December was down 6-1/2 cents at $7.27. Strong export demand and tight world supplies have been driving wheat prices to historic levels.