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Soybeans have a strong rally

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Soybeans had a strong rally, while corn closed with slight gains and wheat closing lower Jan. 22, according to the National Grain Market Summary.

Corn had spill over pressure from wheat but managed slight gains with soybeans impressive rally. Wheat was lower at all three exchanges, demand remains slow and selling interest prevailed.

Wheat closed 10 to 13 cents lower. Corn traded 1 to 3 cents higher. Soybeans closed 22 to 27 cents higher.

In the futures close, Kansas City March was $8.30 3/4, down 13 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $7.91 to $7.94, down 13 cents; Minneapolis, $8.79 1/4, down 9 3/4 cents; Portland, $8.50 to $8.74 1/4, unchanged to down 7 cents; St. Louis, $7.96, down 10 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $7.67, up 1 cents;

Minneapolis, $7.12 1/2, up 1 cents; southern Iowa, $7.21 1/2 to $7.31 1/2, up 3 to up 1 cents; Omaha, $7.50 to $7.52, up 1 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $15, up 23 cents; Minneapolis, no bids; southern Iowa, $14.48 3/4 to $14.53 3/4, up 22 1/2 cents; central Illinois processors, $14.81 3/4 to $14.91 3/4, up 22 1/2 to up 27 1/2 cents.

Kansas City wheat prices Jan. 22, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.95 to $9.32, down 13 cents; 12% protein, $9.17 to $9.50, down 13 cents; 13% protein, $9.42 to $9.57, down 13 cents; 14% protein, $0.42 to $9.57 down 13 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was, $8.11 to $8.20, up 13 cents to up 8 cents.

Date: 1/28/2013



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