Chicago Board of Trade (CBOT) grains futures closed higher Friday with wheat futures trading above 5 U.S. dollars a bushel on Friday for the first time in a year, buoyed by diminishing outlooks for spring wheat crops in both the United States and Canada.

The most active corn contract for September delivery rose 11.5 cents, or 3.11 percent, to 3.81 dollars per bushel. September wheat delivery surged by 30 cents, or 6.05 percent, to close at 5.26 dollars per bushel. November soybeans added 30 cents, or 3.24 percent, to 9.5475 dollars per bushel.

In the outside markets, the Brent crude oil market is 0.59 dollar per barrel higher, the U.S. dollar is higher, and the Dow Jones Industrials are 77 points higher.

In its June Acreage and Quarterly Grain Stocks Reports, the United States Department of Agriculture (USDA) pegged the U.S. corn plantings above what the trade expected, while lowering soybean acres to levels expected by the trade.

Jack Scoville, The PRICE Futures Group's senior market analyst, said the reports are bullish for soybeans on the acres, bearish corn.

For soybeans, the USDA estimated U.S. 2017 planting acreage at 88.7 million against USDA's estimate of 89.5 million in March and last year's acreage of 83.4 million.

For corn, the USDA sees U.S. plantings at 90.0 million vs. its March estimate of 89.9 million and 94.0 million a year ago.

USDA pegged the U.S. all-wheat plantings at 45.7 million, a new record-low, comparing its March estimate of 46.1 million and 50.1 million last year.