<\/p>\n<\/a>Grains<\/u> –
\nA few quick thoughts on winter wheat area for Friday\u2019s report.\u00a0 As shown in the breakdown below, there is a tendency for NASS to find a few more winter wheat acres for the March report than they originally estimate in Jan.\u00a0 The usual difference is not that large, however, and note last year saw a modest reduction in area from the Jan estimate.\u00a0 I\u2019m tempted to make the dumb statement \u201cbut how much smaller can it really get\u201d here, but I\u2019ll just simply state that I have no strong bias for what to expect on Friday.\u00a0 Simply put, any adjustment to the winter wheat area is likely to be fairly minor.\u00a0 Looking ahead, you can see there is a slight tendency for the final winter wheat area estimate to decline vs. the March report.<\/p>\n
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