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Grains close higher, soybeans lead wayGrains closed higher Jan. 17 with soybeans leading the way with sharp gains, according to the National Grain Market Summary. Corn was moderately higher with support from soybeans and a lower dollar. Soybeans were sharply higher on buying interest with the thought that South America's soybean crop is much smaller than anticipated. Wheat had slight gains as it continues to follow corn and the dollar index. Wheat closed mostly 3 cents higher. Corn traded 4 to 11 cents higher. Soybeans closed 25 to 28 cents lower. In the futures close, Kansas City July wheat was $6.73, up 3 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $6.48, up 3 cents; Minneapolis, $8.58 1/2, up 7 1/4 cents; Portland, $6.20 to $6.30, up 10 cents to unchanged; St. Louis, $6.15, up 3 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $6.16 to $6.19, up 4 cents; Minneapolis, no bids; southern Iowa, $5.89 to $5.94, up 7 1/2 to 6 1/2 cents; Omaha, $6.04 to $6.07, up 10 to 11 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $11.74, up 26 cents; Minneapolis, no bids; southern Iowa, $11.57 1/2 to $11.65 1/2, up 26 1/4 to 28 1/4 cents; central Illinois processors, $11.73 1/2 to $11.84 1/2, up 25 1/4 cents. Kansas City wheat prices Jan. 17, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $7.38 to $7.63, up 3 cents; 12% protein, $7.58 to $7.88, up 3 cents; 13% protein, $7.78 to $8.08, up 3 cents; 14% protein, $8.21 to $8.36, up 3 cents. U.S. No. 2 soft red winter wheat was $6.33 to $7.13, up 13 cents. U.S. No. 2 white corn was $7.41 to $7.52, unchanged to down 3 cents.
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