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Grains close lowerGrains all closed lower on follow through selling from last week, according to the Jan. 19 National Grain Market Summary. Wheat closed lower on slumping exports and supply and demand situation. Corn came under pressure late in the day after last week's large decline. Soybeans also followed through closing lower on last week's bearish report. Wheat closed 7 to 9 cents lower. Corn traded 2 to 3 cents lower. Soybeans closed mostly 10 cents lower. In the futures close, Kansas City March wheat was $5.05, down 7 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $4.35, down 9 to 7 cents; Minneapolis, $5.43 1/2, down 7 cents; Portland, $4.60 to $4.78, unchanged to up 5 cents; St. Louis, $3.99, down 7 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.45 to $3.49, down 2 to 3 cents; Minneapolis, $3.11 1/4, down 2 1/4 cents; southern Iowa, $3.18 3/4 to $3.32 1/4, down 2 1/2 cents; Omaha, $3.40 to $3.47, down 3 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $9.39, down 10 cents; Minneapolis, no bids; southern Iowa, no bids; central Illinois processors, $9.61 1/2 to $9.73 1/2, down 10 1/2 to 5 1/2 cents. Kansas City wheat prices Jan. 19, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $4.75 to $5.40, down 7 to 3 cents; 12% protein, $5.25 to $5.46, down 4 to 5 cents; 13% protein, $5.31 to $5.85, down 7 cents; 14% protein, $5.70 to $5.85, down 7 cents. U.S. No. 2 soft red winter wheat was $4.50 to $5.40, down 7 cents. U.S. No. 2 white corn was $3.78 to $3.85, unchanged to down 8 cents.
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