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Austin Schroeder

Wheat In Rally Mode on Tuesday, as Acres Drop

KC MPLS USDA Chicago KCBT MIAX

The wheat complex is getting a double digit positive reaction to the USDA acreage report this morning. Chicago SRW futures are 11 to 12 1/2 cents higher. KC HRW futures are up 16 to 17 cents at midday. MPLS spring wheat is rallying 10 to 11 cents on the Tuesday session.

The Kansas Crop Progress report showed winter wheat conditions down 6% to 40% good/excellent, with the Brugler500 index down 12 points to 316. The national level Crop Progress report will be out nest Monday.

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