DTN Closing Grain Comments 11/15 14:59

DTN Closing Grain Comments 11/15 14:59 Grains Find Strength Friday to Avoid 5 Consecutive Days of Losses The grain markets benefitted from technical strength to close the week Friday, led by wheat and soybean markets which had become very oversold in the short term. A slight correction in the U.S. Dollar Index, which itself has become overbought after four consecutive strong moves higher, also lent strength to ag commodities Friday. The weather situation in the U.S. and abroad remains nonthreatening for the moment, but Friday's strong move back toward chart support for U.S. grains may serve as an indication traders feel they have adequately priced in the grain surplus concerns -- at least for now. Otherwise, lower volume in trade Friday could indicate bearish traders were just taking a breather in their selling streak and, without fundamental support, technical corrections can only take a market so far. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: December corn closed up 5 cents and March corn was up 4 1/2 cents. January soybeans closed up 11 cents and March soybeans were up 9 1/2 cents. December KC wheat closed up 7 cents, December Chicago wheat was up 6 1/4 cents and December Minneapolis wheat was up 5 3/4 cents.