DTN Closing Grain Comments 11/13 13:38

DTN Closing Grain Comments 11/13 13:38 Row-Crop Markets Continue To Sell Off Midway Through Week Ag markets continue to remove risk premium, albeit to a lesser extent now that we are 2 1/2 trading sessions removed from the November USDA report. Wednesday's pressure could be attributed to overall market weakness in vegetable oils, which had been soaring but now have suffered three consecutive sessions of heavy selling both on technical pressure as well as fears regarding what degree the new U.S. administration will push a renewable fuel agenda. Overall, the market trades the news available and, unfortunately for bulls, the readily available numbers are those printed by the USDA Friday. Even with underlying optimism regarding shrinking U.S. supplies, the majority of traders will need to "see it to believe it" and as the fact of the matter stands currently, U.S. grain stocks are not a bullish story. So begins a two-month period of speculation ahead of the USDA's final production estimates in January. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: December corn closed down 2 cents and March corn was down 2 3/4 cents. January soybeans closed down 2 3/4 cents and March soybeans were down 4 cents. December KC wheat closed down 5 3/4 cents, December Chicago wheat was down 11 1/4 cents and December Minneapolis wheat was down 6 1/2 cents.