April projection of 2017/18 US wheat area...>

US DATA: April projection of 2017/18 US wheat area planted unrev at 

46.0m acres and area harvested unrev at 37.6m acres, both down from 

2016/17. 

- Wheat production unrev at 1.741b bsls, while import forecast unrev at

155m, so total supply unrev at 3.076b, down from the 3.402b seen in 

2016/17. 

- Domestic use rev down to 1.087b bsls from 1.117b bsls, while exports 

unrev at 925m, for a rev down total use of 2.012b bsls from 2.042b bsls 

in March and down from 2.222b in 2016/17. 

- The est for 2017/18 ending stocks is now 1.064b, rev up from 1.034m 

in March, but down from 1.181b in 2016/17. 

- Avg farm bsl price unrev at $4.60-$4.70, up from $3.89/bsl in 2016/17.