Wheat exports remain surprisingly strong as we approach the end of the crop year. USDA raised the forecast for exports by 25 million bushels in the March report to 1.05 billion. Last September the forecast for wheat exports in 2004-05 totaled 950 million bushels. The increase in exports was partially offset by a 20 million bushel cut in wheat food use, but ending stocks are now put at 553 million bushels, 5 million less than in February. The mid-point of the expected price range for wheat now stands at $3.40, which would match the average price for the 2003-04 crop year.