Reinier has been linked with a €30million move from Flamengo this month, and it is said the teenager will sign for Madrid after his 18th birthday on January 19.
However, Raul, who works with Madrid's young talents in the reserve team, suggested he was unaware of an imminent announcement.
"I can't tell you anything because I don't know anything," Raul said after Castilla's 2-1 defeat to Melilla.
"You will have to ask the club or other people. Nobody has told me anything about this case."
Reinier scored six goals in 14 appearances in Brazil's Serie A last year.