Wheat Estimates for Today's USDA Report

The USDA will release its Acreage and Grain Stocks report today at 12:00 PM ET . Estimates of acreage intentions for All Wheat acres to be near 55.9 million versus 55.367 million in March. Winter wheat acres are expected to be near 40.825 million versus 40.751 million in March. Spring wheat is estimated to be near 13.215 million versus 12.969 million in March. Wheat stocks are estimated to be near 719 million bushels versus 1.124 billion in March and 590 million a year ago at this time. September Chicago Wheat is trading at 586 1/2 up 3 cents and December Chicago Wheat is trading at 593 1/4, up 2 1/2 cents. September Kansas City Wheat is trading at 585 ,up 3 1/2 cents and December Kansas City Wheat is trading at 603 1/4 up 3 cents.