Corn and soybean futures have dipped into the red in early trading Friday, as traders work to limit risk exposure ahead of the 3-day Christmas holiday weekend ahead.

In early trading, March corn is 3/4 cent lower at $6.16 3/4 per bushel, January soybeans are 1 1/4 cents lower at $11.61, and March wheat is 1 cent higher at $6.22 3/4, according to Barchart.com.

• See more of the latest grain futures prices
• Discuss Friday's trade in Marketing Talk

Friday's trade looks to be a 2-sided affair; though most of the momentum is toward the upside, traders are looking to nail down positions in the week's ending session before the long weekend. That likely means the upward momentum is far from gone -- in fact, more traders say Friday there's an added risk premium in corn and soybeans Friday with growing concerns about yield losses mounting in Brazil and Argentina.

• Read more: Corn seen rising on S.A. weather concerns