Grain Futures Sharply Higher

U.S. Grain Futures surged higher on Tuesday after the release of the USDA Acreage and Stocks Report. Market chatter about weather was making the rounds late in the session. August Soybeans settled at 1048, up 53 1/2 cents and November Soybeans settled at 1035 1/4, up 55 1/4 cents. August Soymeal settled at 351.9, up 17.9 and August Soybean Oil settled at 33.65, up 0.54. September Corn settled at 422, up 30 cents and December Corn settled at 431 1/2 , up 29 3/4 cents. September Chicago Wheat settled at 615 3/4, up 32 1/4 cents and December Chicago Wheat settled at 622 , up 31 1/4 cents. September Kansas City Wheat settled at 610 1/4 , up 28 3/4 cents and December Kansas City Wheat settled at 628, up 27 3/4 cents.