Feb projection of 2017/18 US wheat area at..>

US DATA: Feb 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 up to 1.117b bsls in Feb est from 1.112b in Jan est,

while exports rev down to 950m from 975m in Jan, for a rev down total 

use of 2.067b bsls down from 2.087b bls in Jan and down from 2.222b in 

2016/17. 

- The est for 2017/18 ending stocks is now 1.009b, rev up from 989m 

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

- Avg farm bsl price rev to $4.55-$4.65, up from $3.89/bsl in 2016/17.