The SRW premium is fading at midday as the wheat complex is mixed. KC and MGE futures are in the black with fractional to 1 3/4 cent gains and 3 to 3 3/4 cent gains respectively. CBT futures are in the red, trading with midday losses of 3 1/4 to 4 1/2 cents. Some in the trade believe spec funds bought 125 million bushels of wheat on the board yesterday. USDA reported winter wheat planted acreage for 2021/22 at 31.99m acres. Of that, 69.7% was HRW and 19.4% was SRW, compared to 70.2% and 18.3% in 2019/20. USDA put December 1 wheat stocks at 1.673 mbu. The MY ending stocks are forecasted at 836 mbu, down 26 mbu from December as the Grain Stocks number forced a higher feed & residual use estimate.

--- provided by Brugler Marketing & Management