The agent of the Stockport centre-back, 22, had said earlier in the week that the Iron had expressed an interest in the player.
Raynes, who is captain of the Hatters, is expected to be available in the January transfer window as the League One strugglers need to raise money. He is out of contract at the end of the season.
Adkins said Raynes has been watched, but dismissed claims he had tested the waters with an approach.
"I have not spoken to anyone from Stockport and I have not submitted a bid for him," he told the Scunthorpe Telegraph.