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Grains close higher, soybeans show modest gainsCorn and wheat had solid double-digit gains with soybeans closing with slight to modest gains Jan. 24, according to the National Grain Market Summary. Corn had solid buying interest and with South America's crop having lower estimates than projected has corn sitting with good demand at this time. Soybeans had support from corn and wheat. U.S. wheat is becoming more competitive on the world market and followed corn higher. Wheat closed 12 to 20 cents higher. Corn traded 10 to 12 cents higher. Soybeans closed 2 to 4 cents higher. In the futures close, Kansas City March wheat was $12.30, up 2 cents. Terminal wheat bids, paid for truck delivery, included: Kansas City, $6.61, up 12 cents; Minneapolis, $6.86 3/4, up 15 1/2 cents; Portland, $6.50 to $6.55, up 20 cents; St. Louis, $6.54, up 20 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $6.45 to $6.48, up 10 cents; Minneapolis, no bid available; southern Iowa, $6.19 to $6.26, up 10 1/4 cents to 12 1/4; Omaha, $6.36 to $6.42, up 10 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $12.30, up 2 cents; Minneapolis, no bid; southern Iowa, $12.00 to $12.03, up 3 1/2 to 2 1/2 cents; central Illinois processors, $12.14 to $12.30, up 2 1/2 to 4 1/2 cents. Kansas City wheat prices Jan. 24, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $7.53 to $7.91, up 14.5 cents to up 12.5 cents; 12% protein, $7.78 to $8.01, down 0.5 cents to up 2.5 cents; 13% protein, $7.91 to $8.21, up 7.5 cents to up 12.5 cents; 14% protein, $8.56 to $8.71, up 24.5 cents. U.S. No. 2 soft red winter wheat was, $6.61 to $7.41, up 12.5 cents. U.S. No. 2 white corn was $7.53 to $7.61, unchanged.
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