Yes, WHEATS is a Scrabble word!

Letter values in Scrabble US: W 4, H 4, E 1, A 1, T 1, S 1.

Is it a valid word?

WHEATS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

annual or biennial grass having erect flower spikes and light brown grains
grains of common wheat; sometimes cooked whole or cracked as cereal; usually ground into flour
a variable yellow tint; dull yellow, often diluted with white

Also: wheat berry, pale yellow.