Wheat slid again overnight, poised for a fifth consecutive session of losses as a strong winter wheat outlook pressures the market and beneficial rains aid in crop development.
The CBOT's most-active wheat contract dipped below its 50-day moving average overnight.
Wheat futures rising on bargain buying after most-active contract fell 2.3% on Monday, its biggest daily percentage drop since March 30. Strength in corn market underpins wheat.
The US Agriculture Department said that the US winter wheat crop was rated 48% good to excellent as of May 2, down 1 percentage point from a week ago.
Seller was believed to be trading house CJ International with corn arrival in South Korea around Nov. 20, five days later than originally sought in the tender from the KFA's Incheon section.
If sourced from South Africa, the supplier has the freedom to provide only 52,000 tonnes.
The US Agriculture Department reported totaled wheat export sales for the week ended April 22 at 461,300 tonnes. Analysts' forecasts ranged from 200,000 to 750,000 tonnes.
Corn export sales totaled 1.075 million tonnes in the week ended April 22, USDA said. That was in line with analysts' forecasts that ranged from 500,000 tonnes to 1.6 million tonnes.