CHICAGO, July 21 (Xinhua) -- Chicago Board of Trade (CBOT) grains futures closed lower on Friday with corn prices losing more-than-two-percent as unexpected rains partially eased the drought in the U.S. Midwest.

The most active corn contract for December delivery dropped 11.25 cents, or 2.78 percent, to 3.935 dollars per bushel. September wheat delivery went down 6.5 cent, or 1.29 percent to 4.9925 dollars per bushel. November soybeans declined 4.75 cents, or 0.46 percent, to 10.2225 dollars per bushel.

CBOT brokers reported that funds sold 7,500 contracts of corn, 5,300 contracts of soybeans while being generally flat in wheat.

Overnight rains moistened the soils in the Midwestern State of Iowa, easing the drought that had persisted for several weeks.

Recent hot and dry weather model had resulted in the dropping of crop ratings by the U.S. Department of Agriculture.

The overall decline of grains futures were also due to profit-taking sales following Thursday's sharp rise, said analysts. Enditem

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