Spring wheat futures on the Minneapolis Grain Exchange cut their gains and briefly turned lower near midday Friday on profit-taking, after the spot July contract failed to surpass Thursday's high, traders said. As of 11:44 am CDT (1164 GMT) on Friday, July spring wheat was up 2-3/4 cents at $10.48-1/2 a bushel, 24 cents below its session top of $10.72-1/2. The contract hit $10.78 on Friday, the highest spot spring wheat price since July 2008.