On the Chicago Mercantile Exchange, wheat for March delivery traded at USD7.1300 a bushel, down 0.35% on the day.
The March contract slumped by as much as 0.9% earlier to hit a session low of USD7.0850 a bushel, the weakest level since June 25.
Wheat prices continued their downward march after heavy snow fell in major wheat-growing states in the Great Plains-region, such as Kansas and Oklahoma, last week.
Wheat traders have been closely monitoring weather and crop conditions in the area, where prolonged dryness threatens now-dormant winter wheat crops.
Meanwhile, soybeans futures for March delivery traded at USD14.6700 a bushel, up 0.35% on the day.
The March contract fell by as much as 0.6% earlier in the session to hit a daily low of USD14.5300 a bushel, the cheapest level since February 19.
Soy prices turned higher amid speculation a disruption to supplies from major South American growers Argentina and Brazil will lead to improved demand for U.S. soybeans.
Elsewhere, corn futures for March delivery traded at USD6.9325 a bushel, up 0.1% on the day. The March contract fell by as much as 0.35% earlier in the day to hit a session low of USD6.8725 a bushel, the lowest level since February 13.
Corn’s gains were limited amid a weak technical picture after prices broke below the key psychological USD7.00-a-bushel level last week.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.