CBOT July soft red winter wheat was last 5-1/4 cents lower at $6.51-1/4 per bushel. K.C. July hard red winter wheat was last down 3-1/4 cents at $6.01-1/4 per bushel. MGEX July spring wheat was last 1-1/4 cents lower at $6.81-1/2 per bushel.
The corn can be sourced optionally from the United States, South America or South Africa.
Some 68,000 tonnes was purchased at an estimated $305.31 a tonne c&f for arrival in South Korea around Aug. 25, traders said. Seller was believed to be trading house Cofco.
Corn stocks are likely to rise 51% to 2.4 million tonnes, with high reserves putting pressure on domestic grain prices in the medium term, APK-Inform said in a report.
The grain stocks will also include 1.5 million tonnes of wheat and 1 million tonnes of barley.
This year, heavy rains delayed the harvesting of Brazil's soy and affected the second corn season in big producing states, raising fears of domestic supply shortages, especially among meatpackers.
In a separate report on Monday, consultancy AgRural said drier weather helped farmers reap more of their 2020/2021 soybeans over the past few days.