DES MOINES, Iowa (Agriculture.com)--For the third day in a row, the CME Group soybean market staged another strong trading session Wednesday.

The May corn futures settled 3/4 of a cent higher at $6.58. The May soybean contract closed 7 1/2 cents higher at $13.20. The May wheat futures closed 1/4 of a cent lower at $6.68.  The May soymeal futures finished $3.60 per short ton higher at $352.90. The May soyoil futures ended $0.33 lower at $54.47.
In the outside markets, the NYMEX crude oil is $0.48 per barrel higher, the dollar is higher and the Dow Jones Industrials are down 10 points.

Jack Scoville, PRICE Futures Group vice president, says it has been a pretty quiet trading day. "Soybeans are supported by the Chinese buying, after reports of negative crush margins there. So, a bit of a surprise," Scoville says. Soybeans want to run higher even though people are looking for a little top in through here.  Specs are buying but mostly there is just nothing for sale."  

Note that the grains are having trouble coming along for the ride, proving this is mostly a soy rally, so China is the key.  

"Otherwise people listening to what Bernanke has to say and worried about inflation or not," Scoville says.