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Wheat rallied from earlier declines as traders started to square up positions before the end of the year. Investment funds were exiting a part of their nearly record-large net short in US wheat futures.
The most extreme cold temperatures will reach US Plains wheat areas on Sunday and Monday, putting plants at risk of so-called winterkill, World Weather Inc said in a client note.
The state buying agency for top wheat importer Egypt said it purchased 180,000 tonnes of Russian wheat in a tender.
Benchmark CBOT March soft red winter wheat ended up 5-3/4 cents at $4.28 a bushel. K.C. March hard red winter wheat was up 5-1/2 cents at $4.25-1/2 a bushel and MGEX March spring wheat was 10-1/4 cents higher at $6.21-1/4.