DTN Closing Grain Comments 12/13 13:43

DTN Closing Grain Comments 12/13 13:43 Grain Futures Lose Momentum Throughout Week as Oversupply Concerns Linger The trade is now three days removed from the December WASDE report which saw overall bullish adjustments to the U.S. balance sheet; yet it appears when looking at price action over the past three sessions it may be a classic example of "buying the rumor and selling the fact" amongst traders as ag futures have now erased gains made Tuesday post USDA release. Some premium from last week's strong finish still remains in the market as it seems the trade will shift focus back to the still burdensome supply side of the balance sheet ahead of the key January WASDE from USDA as well as pivotal weeks of South American weather on the horizon. Outside markets leaned negative as well to close the week as the U.S. Dollar Index continues to attempt to climb back toward late November highs, while equity markets continued a sideways week with pressure on Friday. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed down 1 1/2 cents and May corn was down 1 3/4 cents. January soybeans closed down 7 1/2 cents and March soybeans were down 8 1/4 cents. March KC wheat closed down 5 3/4 cents, March Chicago wheat was down 6 1/4 cents and March Minneapolis wheat was down 4 cents.