Benchmark CBOT May soft red winter wheat rose above its 100-day moving average for the first time since March 24 during the overnight trading session. Technical resistance was noted at the contract's 30-day moving average.
CBOT May soft red winter wheat was last up 5-1/2 cents at $6.34-1/4 per bushel. K.C. May hard red winter wheat was last up 5-3/4 cents at $5.82-1/4.
The contract observes closely a set of projection levels on the uptrend from $13.36-3/4. After breaking below $14.20-1/2, it is falling towards $14.04-1/2.
The US Department of Agriculture reported export inspections of US corn in the latest week at 1,544,460 tonnes, in line with trade expectations for 1.2 million to 1.8 million tonnes.
Brazilian farmers harvested an estimated 35% of the country's soybean acreage through last Thursday, down from 49% a year ago and the slowest pace in a decade, agribusiness consultancy AgRural said.
Wheat futures head lower on profit taking at month's end and carry-over selling after Thursday's disappointing weekly US export sales report.
The CBOT reported no deliveries against CBOT March wheat on first notice day, as expected by traders, and 89 K.C. wheat deliveries, versus trade expectations for zero to 50 lots.