Chicago Board of Trade (CBOT) grains futures closed lower on Friday with soybean futures falling by more than 1 percent, as Brazil's currency fell, making Brazilian soybean more competitive on the global market.

The most active corn contract for December delivery fell 2.25 cents, or 0.64 percent, to 3.4825 dollars per bushel. December wheat delivery went down 0.25 cent, or 0.06 percent, to 4.2575 dollars per bushel. January soybeans dropped 12.5 cents, or 1.25 percent, to 9.8675 dollars per bushel.

CBOT wheat traded higher in early moves, rebounding from contract lows set earlier this week. News that private exporters sold 300,000 tonnes of U.S. hard red winter wheat to Iraq lent support. But wheat futures turned down as soybeans sagged.

In the outside markets, the Brent crude oil market is 0.96 dollar higher, the U.S. dollar is higher, and the Dow Jones Industrials are 28 points higher.

CBOT brokers report that funds are sellers of 11,000 soybeans, 5,000 corn, and 3,100 contracts of wheat. They have also sold 7,000 soyoil and 3,200 contracts of soymeal.