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The first estimate of 2018/19 US wheat area.>

US DATA
US DATA: The first estimate of 2018/19 US wheat area planted 47.3m 
acres vs 46.0m acres in 2017/18, while area harvested 38.9m vs 37.6m 
2017/18. 
- Wheat production 1.821b bushels in 2018/19 vs 1.741b in 2017/18, while 
import forecast expected 135m vs 155m, so total supply 3.027b vs 3.076b. 
- Domestic use seen 1.147b in 2018/19 vs 1.096b in 2017/18, while 
exports seen 925m vs 910mb, for total use of 2.072b bushels, up from 
2.006b in 2017/18. 
- The estimate for 2018/19 ending stocks is 955m vs 1.070b in 2017/18. 
Average farm bushel price expected $4.50-$5.50 for 2018/19 vs $4.70 for 
2017/18. 
- The first estimate for 2018/19 US corn area harvested 80.7m acres vs 
82.7m acres in 2017/18.
- The first estimate for 2018/19 US soybean area harvested 88.2m acres 
vs 89.5m acres in 2017/18.

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