Wheat Pops Higher on Lower Acreage
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The wheat complex is trading posted gains across the three exchanges on Monday.Chicago SRW futures were firm to 8 3/4 cents higher to close out the day. Kansas City HRW contracts were ¾ to 5 ¼ in the green to settle the Monday session. MPLS spring wheat was up 7 to 11 cents in the nearby contracts. Precip is expected to cover a good portion of the Southern Plains and SRW country in the next week.Individual state Crop Progress reports showed KS winter wheat steady at 49% gd/ex, with a Brugler500 index unchanged at 334. Ratings in TX were up down 5% at 26% gd/ex and 3 points lower on the Brugler500 at 285. Weekly NASS national Crop Progress reports will begin next Monday. Commodity Bulletin: From crude oil to coffee, this FREE newsletter is for industry pros and rookies alikeNASS tallied March 1 wheat stocks at 1.236 billion bushels in this morning’s quarterly Grain Stocks report, 15 mbu above the average trade estimate but still within the full range of expectations. That is also a hike...