Wheat futures on the Chicago Board of Trade closed modestly higher on Friday on strong weekly export sales and a softer dollar, but the market ended the year down 13 percent as a record-large global harvest boosted supplies, traders said. CBOT front-month wheat settled on Friday up 3-1/4 cents at $4.08 per bushel. That was down from the closing 2015 spot price of $4.70.
K.C. spot hard red winter wheat closed up 3-1/4 cents at $4.18-1/2 a bushel, down about 11 percent for the year.
MGEX spot spring wheat finished up 2-1/2 cents at $5.38 and ended the year up about 9 percent, reflecting tight global supplies of top-quality milling wheat.
The US Department of Agriculture reported export sales of US old-crop wheat in the latest week at 568,000 tonnes, above a range of trade expectations for 200,000 to 500,000 tonnes.
Light support from forecasts for cold temperatures in the US winter wheat belt in January that could threaten dormant crops, along with dry conditions in Kansas and Oklahoma.