Chicago wheat futures rose more than 1 percent on Monday, before paring gains on technical elements, with the market underpinned as extremely cold weather threatened to curb yields of the U.S. hard red winter crop.
Corn slid to one-week lows, while soybeans lost ground as plentiful global supply anchored the markets.
The most-active wheat contract on the Chicago Board of Trade climbed as much as 1.4 percent to $4.69-1/2 a bushel, having closed up 0.1 percent on Friday. It fell in later trade to fill a chart gap marked at the open. By 1135 GMT it was trading up 0.9 percent at $4.67-1/4.
Corn fell 0.1 percent to $3.66-3/4 a bushel after hitting $3.65-3/4, the lowest since March 14. Soybeans lost 0.1 percent to $8.96-3/4 a bushel.
Wheat is drawing support as cold weather hit Kansas and Oklahoma, two major U.S. producing regions, over the weekend.
"The colder weekend weather than had been forecast in Kansas and Oklahoma is lending buoyancy to the price again," Commerzbank said in a note. "It is still unclear whether wheat plants suffered any significant damage, however."
An Australia-based agricultural commodities analyst noted that temperatures in parts of western Kansas had been well below the critical level for 10 hours.
"Given the stage of the crop, our fear is that it may have done some damage," it said.
India canceled a tender to import 240,000 tonnes of corn, hoping for a bigger-than-expected local summer harvest and following uncertainty over the availability of non-genetically modified corn, trade and government sources said.
But the country may import wheat for the first time in a decade as persistent rain and hailstorms could cut India's wheat crop by at least 14 percent, an industry body said on Friday.
Private analytics firm Informa Economics raised its forecast for U.S. 2016 corn plantings to 89.5 million acres and lowered its forecast for soybeans to 84.0 million acres, trade sources said on Friday.
Large speculators trimmed their net short position in CBOT corn futures in the week to March 15, regulatory data released on Friday showed.
The Commodity Futures Trading Commission's weekly commitments of traders report also showed that noncommercial traders, a category that includes hedge funds, trimmed their net short position in CBOT wheat and curbed their net short position in soybeans.