Midday wheat futures are gaining double digits for midday, with prices ~5 cents off their highs. Chicago is up by as much as 2.9% for midday. KC wheat is gaining 8 to 11 cents so far. Spring wheat futures were slow to join the rally with futures near their highs but only 2 to 5 cents in the black. 

The annual Prospective plantings data showed winter wheat area totaled 34.135 million acres, compared to the 34.7 million assumed going in. Total wheat area was 47.498 million acres vs 49.575 million planted last year and 47.3 million expected. Other spring area was surveyed at 11.335 million acres, which was up 135,000 yr/yr. Texas winter wheat was down 500k acres vs last year and Kansas dropped 400k. 

The quarterly wheat supply count came in at 1.087 bbu as of March 1st, which included 272 mbu on farm and 816 mbu off farm. The trade was looking for the wheat count to come in near 1.05 bbu vs 941 million last year. Q3 use was down 38 mbu from last year with 333 million used. 

Weekly wheat bookings were shown at 340k MT for the week ending 3/21. That was above the 4-wk average but substantially below the prior week. 

May 24 CBOT Wheat  is at $5.53, up 5 1/2 cents,

Jul 24 CBOT Wheat  is at $5.68 1/4, up 5 1/2 cents,

May 24 KCBT Wheat  is at $5.82, up 3 3/4 cents,

Jul 24 KCBT Wheat  is at $5.76 1/4, up 2 1/4 cents,

May 24 MGEX Wheat  is at $6.53 1/4, up 2 1/4 cents,