Chicago Board of Trade corn, soybeans futures closed lower on Friday, while wheat bounced back on concerns that wheat condition ratings in the US western plains might slip.

The most active corn contract for May delivery lost 1 cents, or 0.26 percent, to close at $3.77 per bushel. Wheat for May delivery gained 7.75 cents, or 1.49 percent, to close at 5.265 dollars per bushel. May soybeans dropped 2 cents, or 0.21 percent, to close at $9.515 per bushel.

The trade on Friday has been mixed with wheat catching a bid on forecasts for drier weather in the western plains and the expectation that wheat condition ratings in Kansas will fall again on Monday, while corn and soybeans futures are pushed lower on news that South Korea is buying Brazilian corn and additional fund selling in soybeans as technical support levels were breached.

May corn extended its losses for a fifth straight session as Brazil government reported Friday that 2015 corn crop would be 78. 8 million metric tons, the 2nd largest on record, prompting Brazil to be more aggressive in offering corn for export into October and November.

The midday weather model is slightly drier for the plains next week, while the brunt of the heavy rain looks to drop across the Delta and southeastern US.

"The US weather pattern is complex, but over time the Kansas drought will be shrinking and the focus of the market will shift to large EU/Black Sea wheat production against stable world demand. July Chi wheat will struggle above 5.40 dollars," said AgResource company, a Chicago-based agricultural research institute, adding " Corn and soy have additional downside price risk on large supplies and slowing Chinese demand."

For the week, the most active corn contract for May delivery fell by 2.46 percent, May soybeans lost 3.5 percent, whereas wheat for May delivery shed 1.82 percent.