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

US DATA: The July estimate of 2018/19 US wheat area planted rev up to 

47.8m acres from 47.3m in June, and up from 46.0m acres in 2017/18, 

while area harvested rev up to 39.6m from 38.9m and 37.6m 2017/18. 

- July projection of 2018/19 US wheat production rev up to 1.881b bsls 

from 1.827b bsls, both up from 1.741b in 2017/18. Import forecast unrev 

at 135m vs 157m in 2017/18. Total supply rev up to 3.117b from 3.043b, 

now above 3.079 in 2017/18.  

- Domestic use rev up to 1.157b in 2018/19 from 1.147m, well ahead of 

1.077m in 2017/18, while exports rev up to 975m from 950m, up from 901m 

in 2017/18, for a total use of 2.132b bsls, rev up from 2.097b bsls, and 

up from 1.978b bsls in 2017/18. 

- The estimate for 2018/19 ending stocks was rev up to 985m from 946m 

in the prev est, and down from 1.100b in 2017/18. 

- Average farm bushel price expctd $4.50-$5.50 for 2018/19 vs $4.60-$5.60 

prev reported. The avg price was $4.73 in 2017/18. 

- 2018/19 US corn area harvested rev up to 81.8m acres vs 80.7m prev, 

still down from 82.7m acres in 2017/18.

- 2018/19 US soybean area harvested rev up to 88.9m acres from 88.2m 

prev, down from 89.5m acres in 2017/18.