Wheat, corn close higher

Wheat and corn closed with solid gains with soybeans closing lower, according to the National Grain Market Summary, Jan. 18.

Soybeans closed lower on rain in Argentina and selling. Wheat was the leader with announcement of bullish export sales. Corn closed higher with support from wheat and a lower dollar.

Wheat closed mostly 15 to 17 cents higher. Corn traded 7 to 11 cents higher. Soybeans closed 8 to 14 cents lower.

In the futures close, Kansas City was $8.76 1/2, up 16 1/2 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $8.02, up 17 cents; Minneapolis, $9.36, up 15 3/4 cents; Portland, $7.70 to $7.80, up 10 cents; St. Louis, $7.83, up 27 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $6.37 to $6.40, up 9 cents; Minneapolis, no bid; southern Iowa, $6.35 1/2 to $6.37 1/2, up 10 3/4 cents; Omaha, $6.28 to $6.34, up 11 to 7 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $13.68 to $13.73, down 13 cents; Minneapolis, no bid; southern Iowa, $13.78 1/4 to $13.83 1/4, down 8 3/4 to 11 1/4 cents; central Illinois processors, $13.86 1/4 to $13.98 1/4, down 9 1/4 to 14 1/4 cents.

Kansas City wheat prices Jan. 18, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $824 to $8.76, up 16 1/2 to up 14 1/2 cents; 12% protein, $8.68 to $8.96, up 16 1/2 cents; 13% protein, $9.41 to $9.66, up 16 1/2 cents; 14% protein, $9.56 to $9.71, up 16 1/2 cents. U.S. No. 2 soft red winter wheat was, $8.31 to $9.21, up 16 1/2 cents. U.S. No. 2 white corn was, $6.26 to $6.43, down 11 to down 17 cents.

(Source: http://www.hpj.com/archives/2011/jan11/jan24/0118grainmktsummaryMRblrsr.cfm)