Chicago Board of Trade (CBOT) grains futures closed lower on Monday with soybeans falling below the 10-dollar-per-bushel threshold due to profit-taking.

The most active corn contract for December delivery fell 2.25 cents, or 0.64 percent, to 3.505 dollars per bushel. December wheat delivery went down three cents, or 0.68 percent, to 4.365 dollars per bushel.

November soybeans slid 9.25 cents, or 0.92 percent, to 9.91 dollars per bushel.

CBOT floor brokers reported that funds sold 3,200 contracts of soybeans, 4,000 contracts of corn, and 2,500 contracts of wheat.

The U.S. Department of Agriculture last week released its monthly supply and demand report, indicating less-than-expected ending stocks of U.S. soybeans. This prompted massive funds buying which pushed up soybean futures by almost three percent week-on-week.

However, profit-taking on Monday sent soybean prices back to less than 10 dollar per bushel again.

Corn and soybean futures got additional pressures from the ongoing U.S. harvest and improved South American weather.

Australian wheat prices have reportedly fallen sharply following recent rainfalls, which traders believe can ease the dry conditions there and improve yield prospects.