WASDE - 656 - 8 January 2025 World and U.S. Supply and Use for Grains 1/ Million Metric Tons ================================================================================ Total Total Ending Commodity Output Supply Trade 2/ Use 3/ Stocks ================================================================================ World Total Grains 4/ 2022/23 2762.11 3562.20 497.22 2770.74 791.46 2023/24 (Est.) 2820.09 3611.55 514.05 2816.10 795.45 2024/25 (Proj.) Dec 2825.76 3619.39 503.55 2855.76 763.64 Jan 2820.40 3615.84 500.01 2854.91 760.93 Wheat 2022/23 789.89 1063.85 221.75 789.58 274.27 2023/24 (Est.) 791.02 1065.29 221.22 797.83 267.47 2024/25 (Proj.) Dec 792.95 1060.35 213.65 802.47 257.88 Jan 793.24 1060.71 212.00 801.89 258.82 Coarse Grains 5/ 2022/23 1455.49 1797.43 220.33 1460.90 336.53 2023/24 (Est.) 1506.45 1842.98 235.86 1494.50 348.48 2024/25 (Proj.) Dec 1499.13 1846.25 231.78 1522.96 323.29 Jan 1494.29 1842.77 230.10 1522.78 319.99 Rice, milled 2022/23 516.73 700.92 55.15 520.26 180.66 2023/24 (Est.) 522.62 703.27 56.96 523.77 179.50 2024/25 (Proj.) Dec 533.68 712.79 58.12 530.32 182.47 Jan 532.87 712.36 57.91 530.24 182.13 United States Total Grains 4/ 2022/23 406.43 471.34 67.85 349.89 53.60 2023/24 (Est.) 458.90 520.32 86.80 365.43 68.09 2024/25 (Proj.) Dec 457.91 533.19 94.91 368.19 70.09 Jan 451.56 527.05 94.34 367.78 64.93 Wheat 2022/23 44.90 66.56 20.73 30.33 15.50 2023/24 (Est.) 49.10 68.36 19.24 30.16 18.95 2024/25 (Proj.) Dec 53.65 76.01 23.13 31.24 21.63 Jan 53.65 76.14 23.13 31.30 21.71 Coarse Grains 5/ 2022/23 356.45 397.17 45.06 314.97 37.14 2023/24 (Est.) 402.88 442.67 64.45 330.35 47.87 2024/25 (Proj.) Dec 397.28 447.48 68.60 331.89 46.98 Jan 390.86 441.11 68.03 331.25 41.84 Rice, milled 2022/23 5.08 7.61 2.05 4.60 0.96 2023/24 (Est.) 6.92 9.30 3.12 4.92 1.27 2024/25 (Proj.) Dec 6.98 9.71 3.18 5.05 1.48 Jan 7.05 9.80 3.18 5.24 1.38 ================================================================================ WASDE - 656 - 9 January 2025 World and U.S. Supply and Use for Grains, Continued 1/ Million Metric Tons ================================================================================ Total Total Ending Commodity Output Supply Trade 2/ Use Stocks ================================================================================ Foreign 3/ Total Grains 4/ 2022/23 2355.68 3090.86 429.38 2420.85 737.86 2023/24 (Est.) 2361.19 3091.22 427.24 2450.67 727.36 2024/25 (Proj.) Dec 2367.85 3086.20 408.64 2487.57 693.54 Jan 2368.84 3088.79 405.68 2487.13 696.00 Wheat 2022/23 744.99 997.29 201.02 759.25 258.77 2023/24 (Est.) 741.93 996.94 201.98 767.67 248.51 2024/25 (Proj.) Dec 739.30 984.35 190.51 771.23 236.25 Jan 739.59 984.56 188.86 770.59 237.10 Coarse Grains 5/ 2022/23 1099.04 1400.26 175.27 1145.93 299.39 2023/24 (Est.) 1103.57 1400.31 171.42 1164.15 300.61 2024/25 (Proj.) Dec 1101.85 1398.77 163.18 1191.07 276.30 Jan 1103.44 1401.66 162.07 1191.54 278.15 Rice, milled 2022/23 511.65 693.31 53.09 515.67 179.69 2023/24 (Est.) 515.70 693.97 53.84 518.86 178.23 2024/25 (Proj.) Dec 526.70 703.08 54.94 525.27 180.99 Jan 525.81 702.57 54.74 525.00 180.74 ================================================================================ World and U.S. Supply and Use for Cotton 1/ Million 480-lb. Bales ================================================================================ Total Total Ending Commodity Output Supply Trade 2/ Use 3/ Stocks ================================================================================ World 2022/23 116.30 187.19 36.65 112.64 75.90 2023/24 (Est.) 112.98 188.88 44.61 114.33 74.16 2024/25 (Proj.) Dec 117.39 191.55 42.26 115.79 76.02 Jan 119.45 193.61 42.48 115.89 77.91 United States 2022/23 14.47 19.07 12.45 2.05 4.65 2023/24 (Est.) 12.07 16.72 11.75 1.85 3.15 2024/25 (Proj.) Dec 14.26 17.41 11.30 1.80 4.40 Jan 14.41 17.57 11.00 1.80 4.80 Foreign 4/ 2022/23 101.83 168.12 24.20 110.59 71.25 2023/24 (Est.) 100.92 172.16 32.86 112.48 71.01 2024/25 (Proj.) Dec 103.13 174.14 30.96 113.99 71.62 Jan 105.03 176.04 31.48 114.09 73.11 ================================================================================ WASDE - 656 - 10 January 2025 World and U.S. Supply and Use for Oilseeds 1/ (Million Metric Tons) ================================================================================ Total Total Ending Commodity Output Supply Trade Use 2/ Stocks ================================================================================ World Oilseeds 2022/23 638.18 752.44 201.37 526.45 121.93 2023/24 (Est.) 657.05 778.98 205.10 545.92 132.57 2024/25 (Proj.) Dec 683.38 814.83 207.34 558.18 147.22 Jan 680.35 812.93 207.30 560.27 144.32 Oilmeals 2022/23 358.09 378.30 97.67 356.31 17.46 2023/24 (Est.) 372.64 390.10 106.33 366.16 18.86 2024/25 (Proj.) Dec 383.42 402.19 107.07 377.17 20.73 Jan 385.04 403.90 107.41 378.56 21.10 Vegetable Oils 2022/23 217.29 247.41 88.93 211.08 31.17 2023/24 (Est.) 221.67 252.84 85.89 217.60 30.81 2024/25 (Proj.) Dec 226.81 256.74 86.12 223.88 27.90 Jan 227.18 257.99 86.36 224.78 28.30 United States Oilseeds 2022/23 125.75 136.42 54.78 64.16 8.85 2023/24 (Est.) 122.16 132.12 47.35 66.32 10.81 2024/25 (Proj.) Dec 131.16 142.96 50.82 69.83 14.23 Jan 128.48 140.44 50.78 69.79 11.74 Oilmeals 2022/23 49.93 54.59 13.39 40.78 0.41 2023/24 (Est.) 51.49 56.18 14.81 40.88 0.49 2024/25 (Proj.) Dec 53.93 58.77 15.99 42.29 0.50 Jan 54.08 58.92 15.98 42.44 0.50 Vegetable Oils 2022/23 13.18 20.74 0.34 19.27 1.14 2023/24 (Est.) 13.63 21.62 0.42 20.19 1.02 2024/25 (Proj.) Dec 14.33 22.57 0.66 20.85 1.06 Jan 14.34 22.61 0.87 20.68 1.06 Foreign 3/ Oilseeds 2022/23 512.43 616.02 146.58 462.29 113.08 2023/24 (Est.) 534.89 646.86 157.75 479.60 121.76 2024/25 (Proj.) Dec 552.22 671.88 156.52 488.34 132.99 Jan 551.87 672.49 156.52 490.48 132.59 Oilmeals 2022/23 308.16 323.71 84.28 315.53 17.05 2023/24 (Est.) 321.16 333.92 91.52 325.28 18.37 2024/25 (Proj.) Dec 329.49 343.42 91.08 334.89 20.24 Jan 330.97 344.99 91.43 336.12 20.61 Vegetable Oils 2022/23 204.11 226.67 88.60 191.81 30.03 2023/24 (Est.) 208.04 231.21 85.47 197.41 29.80 2024/25 (Proj.) Dec 212.48 234.18 85.46 203.03 26.84 Jan 212.84 235.38 85.50 204.11 27.24 ================================================================================ WASDE - 656 - 11 January 2025 U.S. Wheat Supply and Use 1/ ================================================================================ 2022/23 2023/24 Est. 2024/25 Proj. 2024/25 Proj. Item Dec Jan ================================================================================ Million Acres Area Planted 45.8 49.6 46.1 46.1 Area Harvested 35.5 37.1 38.5 38.5 Bushels Yield per Harvested Acre 46.5 48.7 51.2 51.2 Million Bushels Beginning Stocks 674 570 696 696 Production 1650 1804 1971 1971 Imports 122 138 125 130 Supply, Total 2446 2512 2793 2798 Food 972 961 966 966 Seed 68 62 62 64 Feed and Residual 74 85 120 120 Domestic, Total 1114 1108 1148 1150 Exports 762 707 850 850 Use, Total 1876 1815 1998 2000 Ending Stocks 570 696 795 798 Avg.FarmPrice ($/bu) 2/ 8.83 6.96 5.60 5.55 ================================================================================ U.S. Wheat by Class: Supply and Use ================================================================================ Year begining Hard Red Hard Red Soft Red June 1 Winter Spring Winter White Durum Total ================================================================================ Million Bushels 2023/24 (Est.) Beginning Stocks 223 155 90 74 28 570 Production 596 465 449 234 59 1804 Imports 18 63 6 6 45 138 Supply, Total 3/ 837 683 545 314 132 2512 Food 384 253 158 84 83 961 Seed 27 15 11 6 3 62 Feed and Residual 18 -10 91 -12 -2 85 Domestic Use 428 258 261 77 84 1108 Exports 134 235 158 152 27 707 Use, Total 563 493 419 229 111 1815 Ending Stocks, Total 274 190 126 85 21 696 2024/25 (Proj.) Beginning Stocks 274 190 126 85 21 696 Production 770 503 342 276 80 1971 Imports 5 70 5 5 45 130 Supply, Total 3/ 1050 763 473 366 146 2798 Food 384 259 155 85 83 966 Seed 27 16 13 6 3 64 Feed and Residual 45 20 70 -15 0 120 Domestic Use 456 295 238 76 86 1150 Exports 210 270 125 220 25 850 Use, Total 666 565 363 296 111 2000 Ending Stocks, Total Jan 384 198 110 70 36 798 Dec 370 198 111 80 36 795 ================================================================================ WASDE - 656 - 12 January 2025 U.S. Feed Grain and Corn Supply and Use 1/ ================================================================================ 2022/23 2023/24 Est. 2024/25 Proj. 2024/25 Proj. Item Dec Jan ================================================================================ Million Acres FEED GRAINS Area Planted 100.0 107.5 101.6 101.5 Area Harvested 86.6 96.0 90.7 91.3 Metric Tons Yield per Harvested Acre 4.11 4.19 4.37 4.28 Million Metric Tons Beginning Stocks 37.5 37.1 47.7 47.9 Production 356.1 402.6 396.9 390.5 Imports 2.9 2.3 2.2 2.1 Supply, Total 396.5 442.0 446.8 440.4 Feed and Residual 142.2 150.7 151.8 150.7 Food, Seed & Industrial 172.1 179.0 179.4 179.9 Domestic, Total 314.4 329.7 331.2 330.6 Exports 45.1 64.4 68.6 68.0 Use, Total 359.4 394.2 399.8 398.6 Ending Stocks 37.1 47.9 47.0 41.8 Million Acres CORN Area Planted 88.2 94.6 90.7 90.6 Area Harvested 78.7 86.5 82.7 82.9 Bushels Yield per Harvested Acre 173.4 177.3 183.1 179.3 Million Bushels Beginning Stocks 1377 1360 1760 1763 Production 13651 15341 15143 14867 Imports 39 28 25 25 Supply, Total 15066 16729 16928 16655 Feed and Residual 5486 5804 5825 5775 Food,Seed& Industrial 2/ 6558 6869 6890 6890 Ethanol & by-products 3/ 5176 5478 5500 5500 Domestic, Total 12044 12673 12715 12665 Exports 1662 2292 2475 2450 Use, Total 13706 14966 15190 15115 Ending Stocks 1360 1763 1738 1540 Avg.FarmPrice ($/bu) 4/ 6.54 4.55 4.10 4.25 ================================================================================ WASDE - 656 - 13 January 2025 U.S. Sorghum, Barley, and Oats Supply and Use 1/ ================================================================================ 2022/23 2023/24 Est. 2024/25 Proj. 2024/25 Proj. Item Dec Jan ================================================================================ Million Bushels SORGHUM AreaPlanted (mil. acres) 6.3 7.2 6.3 6.3 AreaHarvested(mil.acres) 4.6 6.1 5.3 5.6 Yield (bushels/acre) 41.1 52.0 60.8 61.3 Beginning Stocks 47 24 31 33 Production 188 318 321 344 Imports 0 0 0 0 Supply, Total 235 342 351 377 Feed and Residual 42 46 75 80 Food, Seed & Industrial 59 24 25 45 Total Domestic 102 70 100 125 Exports 109 239 220 220 Use, Total 211 309 320 345 Ending Stocks 24 33 31 32 Avg.FarmPrice ($/bu) 2/ 6.38 4.93 4.10 4.25 BARLEY AreaPlanted (mil. acres) 2.9 3.1 2.4 2.4 AreaHarvested(mil.acres) 2.4 2.6 1.9 1.9 Yield (bushels/acre) 71.7 72.3 76.7 76.7 Beginning Stocks 37 66 78 78 Production 174 186 144 144 Imports 23 13 12 12 Supply, Total 235 265 234 234 Feed and Residual 35 57 40 40 Food, Seed & Industrial 132 125 120 120 Total Domestic 167 182 160 160 Exports 2 5 5 8 Use, Total 169 187 165 168 Ending Stocks 66 78 69 66 Avg.FarmPrice ($/bu) 2/ 7.40 7.39 6.60 6.60 OATS AreaPlanted (mil. acres) 2.6 2.6 2.2 2.2 AreaHarvested(mil.acres) 0.9 0.8 0.9 0.9 Yield (bushels/acre) 65.5 68.6 76.5 76.5 Beginning Stocks 33 35 36 36 Production 58 57 68 68 Imports 84 74 74 70 Supply, Total 174 166 178 174 Feed and Residual 57 48 60 60 Food, Seed & Industrial 81 80 81 81 Total Domestic 137 128 141 141 Exports 2 2 2 2 Use, Total 139 130 143 143 Ending Stocks 35 36 35 31 Avg.FarmPrice ($/bu) 2/ 4.57 3.92 3.40 3.40 ================================================================================ WASDE - 656 - 14 January 2025 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) ================================================================================ 2022/23 2023/24 Est. 2024/25 Proj. 2024/25 Proj. Item Dec Jan ================================================================================ Million Acres TOTAL RICE Area Planted 2.22 2.90 2.94 2.91 Area Harvested 2.17 2.85 2.90 2.87 Pounds Yield per Harvested Acre 7385 7641 7590 7748 Million Hundredweight Beginning Stocks 2/ 39.7 30.3 39.4 39.8 Production 160.0 218.0 219.8 222.1 Imports 39.9 44.6 46.5 46.5 Supply, Total 239.7 292.8 305.7 308.5 Domestic & Residual 3/ 144.8 154.9 159.0 165.0 Exports, Total 4/ 64.6 98.1 100.0 100.0 Rough 18.5 41.7 40.0 40.0 Milled (rough equiv.) 46.2 56.4 60.0 60.0 Use, Total 209.4 253.0 259.0 265.0 Ending Stocks 30.3 39.8 46.7 43.5 Avg.MillingYield (%) 5/ 70.00 70.00 70.00 70.00 Avg.FarmPrice($/cwt) 6/ 19.80 17.20 15.60 15.60 LONG GRAIN RICE Harvested Acres (mil.) 1.78 2.05 2.26 Yield (pounds/acre) 7225 7523 7625 Beginning Stocks 24.6 21.2 19.3 19.3 Imports 31.9 37.3 39.0 39.0 Production 128.5 153.8 166.8 172.0 Supply, Total 7/ 185.0 212.3 225.1 230.3 Domestic & Residual 3/ 113.6 118.3 122.0 128.0 Exports 8/ 50.2 74.7 72.0 72.0 Use, Total 163.8 193.0 194.0 200.0 Ending Stocks 21.2 19.3 31.1 30.3 Avg.FarmPrice($/cwt) 6/ 16.70 15.90 14.50 14.30 MEDIUM & SHORT GRAIN RICE Harvested Acres (mil.) 0.39 0.81 0.61 Yield (pounds/acre) 8118 7938 8200 Beginning Stocks 13.0 6.8 18.4 18.9 Imports 8.0 7.3 7.5 7.5 Production 31.6 64.1 53.0 50.1 Supply, Total 7/ 52.4 78.9 78.9 76.5 Domestic & Residual 3/ 31.1 36.6 37.0 37.0 Exports 8/ 14.4 23.3 28.0 28.0 Use, Total 45.6 60.0 65.0 65.0 Ending Stocks 6.8 18.9 13.9 11.5 Avg. Farm Price ($/cwt) 1/ 6/ 9/ 33.80 21.30 19.60 20.30 California 10/ 40.90 22.00 22.00 22.00 Other States 1/ 18.20 17.20 14.50 14.80 ================================================================================ WASDE - 656 - 15 January 2025 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ ================================================================================ 2022/23 2023/24 Est. 2024/25 Proj. 2024/25 Proj. Item Dec Jan ================================================================================ Million Acres SOYBEANS Area Planted 87.5 83.6 87.1 87.1 Area Harvested 86.2 82.3 86.3 86.1 Bushels Yield per Harvested Acre 49.6 50.6 51.7 50.7 Million Bushels Beginning Stocks 274 264 342 342 Production 4270 4162 4461 4366 Imports 25 21 15 20 Supply, Total 4569 4447 4818 4729 Crushings 2212 2287 2410 2410 Exports 1980 1695 1825 1825 Seed 75 78 78 78 Residual 39 45 35 36 Use, Total 4305 4105 4348 4349 Ending Stocks 264 342 470 380 Avg.FarmPrice ($/bu) 2/ 14.20 12.40 10.20 10.20 Million Pounds SOYBEAN OIL Beginning Stocks 1991 1607 1501 1501 Production 4/ 26227 27130 28605 28680 Imports 376 621 500 550 Supply, Total 28594 29357 30606 30731 Domestic Disappearance 26609 27240 28000 27600 Biofuel 3/ 12510 12989 14000 13600 Food, Feed & other Industrial 14099 14251 14000 14000 Exports 378 617 1100 1600 Use, Total 26987 27856 29100 29200 Ending stocks 1607 1501 1506 1531 Avg. Price (c/lb) 2/ 65.26 47.28 43.00 43.00 Thousand Short Tons SOYBEAN MEAL Beginning Stocks 311 371 453 453 Production 4/ 52493 54145 56747 56947 Imports 634 687 675 675 Supply, Total 53438 55204 57875 58075 Domestic Disappearance 38521 38643 40025 40225 Exports 14547 16107 17400 17400 Use, Total 53067 54750 57425 57625 Ending Stocks 371 453 450 450 Avg. Price ($/s.t.) 2/ 451.91 384.11 300.00 310.00 ================================================================================ WASDE - 656 - 16 January 2025 U.S. Sugar Supply and Use 1/ ================================================================================ 2022/23 2023/24 Est. 2024/25 Proj. 2024/25 Proj. Item Dec Jan ================================================================================ 1000 Short Tons, Raw Value Beginning Stocks 1820 1843 2099 2123 Production 2/ 9250 9305 9226 9404 Beet Sugar 5187 5172 5160 5338 Cane Sugar 4063 4133 4066 4066 Florida 1985 2077 2053 2053 Louisiana 2001 2016 2014 2014 Texas 76 40 0 0 Imports 3614 3811 2926 2966 TRQ 3/ 1862 1788 1628 1629 Other Program 4/ 141 272 200 200 Non-program 1611 1752 1097 1138 Mexico 1156 521 621 621 High-tier tariff/other 455 1231 476 517 Total Supply 14685 14959 14251 14494 Exports 82 249 100 100 Deliveries 12589 12506 12455 12455 Food 12473 12399 12350 12350 Other 5/ 116 106 105 105 Miscellaneous 171 81 0 0 Total Use 12843 12836 12555 12555 Ending Stocks 1843 2123 1696 1939 Stocks to Use Ratio 14.3 16.5 13.5 15.4 ================================================================================ Mexico Sugar Supply and Use and High Fructose Corn Syrup Consumption 1/ ================================================================================ Supply Use Fiscal Beginning Produc- Imports Domestic Exports Ending Year Stocks tion 2/ Stocks ================================================================================ 1000 Metric Tons, Actual Weight Sugar 2023/24 Est. Dec 835 4704 761 4436 446 1418 Jan 835 4704 761 4436 446 1418 2024/25 Proj. Dec 1418 5094 96 4630 1006 972 Jan 1418 5094 105 4630 1015 972 ================================================================================ WASDE - 656 - 17 January 2025 U.S. Cotton Supply and Use 1/ ================================================================================ 2022/23 2023/24 Est. 2024/25 Proj. 2024/25 Proj. Item Dec Jan ================================================================================ Million Acres Planted 13.75 10.23 11.17 11.18 Harvested 7.29 6.44 8.63 8.27 Pounds Yield per Harvested Acre 953 899 792 836 Million 480 Pound Bales Beginning Stocks 4.60 4.65 3.15 3.15 Production 14.47 12.07 14.26 14.41 Imports 0.00 0.00 0.01 0.01 Supply, Total 19.07 16.72 17.41 17.57 Domestic Use 2.05 1.85 1.80 1.80 Exports, Total 12.45 11.75 11.30 11.00 Use, Total 14.50 13.60 13.10 12.80 Unaccounted 2/ -0.08 -0.03 -0.09 -0.03 Ending Stocks 4.65 3.15 4.40 4.80 Avg. Farm Price 3/ 84.8 76.1 66.0 65.0 ================================================================================ WASDE - 656 - 18 January 2025 World Wheat Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2022/23 World 3/ 273.96 789.89 213.31 152.82 789.58 221.75 274.27 World Less China 137.20 652.17 200.02 119.82 641.58 220.80 135.46 United States 18.36 44.90 3.31 2.03 30.33 20.73 15.50 Total Foreign 255.60 744.99 210.00 150.80 759.25 201.02 258.77 Major Exporters 4/ 41.53 335.89 13.36 73.90 180.94 162.31 47.55 Argentina 1.93 12.55 0.00 0.25 6.85 3.66 3.97 Australia 3.45 40.55 0.20 4.50 8.00 31.83 4.37 Canada 4.17 34.81 0.55 3.15 8.29 25.62 5.63 European Union 5/ 13.63 134.49 12.23 45.00 109.00 35.08 16.27 Russia 12.09 92.00 0.30 18.00 41.00 49.00 14.39 Ukraine 6.27 21.50 0.08 3.00 7.80 17.12 2.93 Major Importers 6/ 172.98 206.13 133.96 50.69 320.46 15.13 177.48 Bangladesh 1.31 1.10 5.12 0.20 6.70 0.00 0.83 Brazil 1.10 10.55 4.68 0.45 11.85 2.69 1.80 China 136.76 137.72 13.28 33.00 148.00 0.95 138.82 Japan 1.18 1.06 5.45 0.75 6.25 0.29 1.14 N. Africa 7/ 12.72 17.26 29.68 1.67 46.72 0.77 12.17 Nigeria 0.62 0.11 4.73 0.00 4.70 0.40 0.36 Sel. Mideast 8/ 10.22 17.43 24.71 3.58 39.44 0.65 12.26 Southeast Asia 9/ 4.64 0.00 24.48 7.55 24.70 1.28 3.14 Selected Other India 19.50 104.00 0.04 6.50 108.67 5.38 9.50 Kazakhstan 1.48 16.40 4.00 1.80 6.80 10.87 4.21 United Kingdom 1.85 15.54 2.03 7.20 15.20 1.91 2.31 2023/24 Est. World 3/ 274.27 791.02 221.84 159.16 797.83 221.22 267.47 World Less China 135.46 654.43 208.21 122.16 644.33 220.18 132.96 United States 15.50 49.10 3.76 2.31 30.16 19.24 18.95 Total Foreign 258.77 741.93 218.08 156.85 767.67 201.98 248.51 Major Exporters 4/ 47.55 324.35 13.79 73.03 180.13 165.56 40.00 Argentina 3.97 15.85 0.00 0.25 7.05 8.23 4.54 Australia 4.37 25.96 0.22 4.30 7.80 19.84 2.91 Canada 5.63 32.95 0.56 3.98 9.08 25.44 4.62 European Union 5/ 16.27 135.10 12.65 46.50 110.50 37.97 15.54 Russia 14.39 91.50 0.30 16.00 39.00 55.50 11.69 Ukraine 2.93 23.00 0.06 2.00 6.70 18.58 0.71 Major Importers 6/ 177.48 208.76 139.09 56.26 330.53 19.76 175.03 Bangladesh 0.83 1.10 6.80 0.25 7.65 0.00 1.08 Brazil 1.80 8.10 6.61 0.60 12.00 2.81 1.69 China 138.82 136.59 13.64 37.00 153.50 1.04 134.50 Japan 1.14 1.15 5.35 0.73 6.23 0.31 1.09 N. Africa 7/ 12.17 16.37 31.27 1.63 46.73 2.00 11.09 Nigeria 0.36 0.12 5.11 0.00 4.80 0.35 0.44 Sel. Mideast 8/ 12.26 20.81 20.07 3.13 39.69 0.65 12.79 Southeast Asia 9/ 3.14 0.00 30.60 9.90 27.96 1.30 4.47 Selected Other India 9.50 110.55 0.13 6.75 112.34 0.34 7.50 Kazakhstan 4.21 12.11 2.50 2.50 7.55 7.83 3.45 United Kingdom 2.31 13.98 3.14 7.40 15.59 0.57 3.26 ================================================================================ WASDE - 656 - 19 January 2025 World Wheat Supply and Use 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2024/25 Proj. World 3/ Dec 267.41 792.95 209.55 152.60 802.47 213.65 257.88 Jan 267.47 793.24 208.48 152.70 801.89 212.00 258.82 World Less China Dec 132.90 652.95 198.55 119.60 651.47 212.65 124.38 Jan 132.96 653.14 197.98 119.70 650.89 211.00 125.71 United States Dec 18.95 53.65 3.40 3.27 31.24 23.13 21.63 Jan 18.95 53.65 3.54 3.27 31.30 23.13 21.71 Total Foreign Dec 248.45 739.30 206.15 149.34 771.23 190.51 236.25 Jan 248.51 739.59 204.95 149.44 770.59 188.86 237.10 Major Exporters 4/ Dec 39.88 310.16 12.64 70.45 177.55 155.00 30.13 Jan 40.00 310.16 12.64 70.75 177.85 153.50 31.45 Argentina Dec 4.57 17.50 0.01 0.25 7.05 11.50 3.53 Jan 4.54 17.50 0.01 0.25 7.05 11.50 3.50 Australia Dec 2.88 32.00 0.20 4.00 7.50 25.00 2.58 Jan 2.91 32.00 0.20 4.00 7.50 25.00 2.61 Canada Dec 4.53 34.96 0.55 4.50 9.60 26.00 4.43 Jan 4.62 34.96 0.55 4.50 9.60 26.00 4.52 European Union 5/ Dec 15.51 121.30 11.50 44.50 108.75 29.00 10.56 Jan 15.54 121.30 11.50 44.50 108.75 29.00 10.59 Russia Dec 11.69 81.50 0.30 15.50 38.25 47.00 8.24 Jan 11.69 81.50 0.30 15.50 38.25 46.00 9.24 Ukraine Dec 0.71 22.90 0.08 1.70 6.40 16.50 0.79 Jan 0.71 22.90 0.08 2.00 6.70 16.00 0.99 Major Importers 6/ Dec 175.23 210.47 132.15 51.93 329.60 17.25 171.00 Jan 175.03 210.57 131.15 51.78 329.40 17.25 170.10 Bangladesh Dec 1.08 1.10 6.90 0.25 7.95 0.00 1.13 Jan 1.08 1.10 6.90 0.25 7.95 0.00 1.13 Brazil Dec 1.69 8.10 6.20 0.50 11.90 2.70 1.39 Jan 1.69 8.10 6.40 0.50 11.90 2.70 1.59 China Dec 134.50 140.00 11.00 33.00 151.00 1.00 133.50 Jan 134.50 140.10 10.50 33.00 151.00 1.00 133.10 Japan Dec 1.09 1.08 5.40 0.65 6.15 0.30 1.12 Jan 1.09 1.08 5.40 0.65 6.15 0.30 1.12 N. Africa 7/ Dec 11.09 16.02 32.40 1.45 46.70 2.10 10.71 Jan 11.09 16.01 32.40 1.45 46.70 2.10 10.70 Nigeria Dec 0.44 0.12 5.50 0.00 5.00 0.38 0.68 Jan 0.44 0.12 5.80 0.00 5.10 0.38 0.88 Sel. Mideast 8/ Dec 12.79 22.39 18.00 3.23 40.33 0.81 12.05 Jan 12.79 22.40 18.00 3.23 40.33 0.81 12.06 Southeast Asia 9/ Dec 4.67 0.00 30.05 9.95 28.68 1.28 4.77 Jan 4.47 0.00 30.05 10.00 28.78 1.28 4.47 India Dec 7.50 113.29 0.20 6.00 112.24 0.25 8.50 Jan 7.50 113.29 0.20 6.00 112.24 0.25 8.50 Kazakhstan Dec 3.33 18.00 0.50 3.00 8.10 10.00 3.73 Jan 3.45 18.00 0.50 3.00 8.10 10.00 3.85 United Kingdom Dec 3.24 11.05 3.20 6.50 14.50 0.50 2.49 Jan 3.26 11.05 3.20 6.50 14.50 0.50 2.51 ================================================================================ WASDE - 656 - 20 January 2025 World Coarse Grain Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2022/23 World 3/ 341.94 1455.49 213.12 894.97 1460.90 220.33 336.53 World Less China 131.91 1169.60 180.50 664.52 1139.13 220.32 129.76 United States 37.48 356.45 3.24 142.37 314.97 45.06 37.14 Total Foreign 304.47 1099.04 209.88 752.60 1145.93 175.27 299.39 Major Exporters 4/ 30.45 332.36 4.57 139.01 191.08 145.86 30.46 Argentina 5.58 43.91 0.02 11.65 17.58 28.75 3.19 Australia 3.61 18.84 0.00 5.72 7.60 10.89 3.97 Brazil 4.57 143.49 1.98 67.35 84.99 54.28 10.77 Canada 3.71 30.54 2.18 17.15 24.76 7.95 3.72 Russia 1.85 44.13 0.10 23.68 33.15 10.62 2.32 Ukraine 8.84 33.93 0.02 6.70 9.08 29.92 3.79 Major Importers 5/ 38.50 229.52 135.96 272.86 353.93 12.99 37.06 European Union 6/ 18.81 133.10 25.49 111.49 149.70 11.10 16.59 Japan 1.56 0.24 16.45 13.11 16.80 0.00 1.45 Mexico 3.94 33.88 20.27 32.88 52.75 0.05 5.30 N. Afr & Mideast 7/ 6.76 31.18 32.87 54.96 62.74 1.05 7.02 Saudi Arabia 1.41 0.25 7.59 7.51 7.85 0.00 1.40 Southeast Asia 8/ 3.30 30.61 17.80 39.65 48.05 0.79 2.86 South Korea 2.07 0.16 11.23 9.04 11.55 0.00 1.91 Selected Other China 210.04 285.89 32.62 230.45 321.77 0.01 206.77 2023/24 Est. World 3/ 336.53 1506.45 242.12 926.01 1494.50 235.86 348.48 World Less China 129.76 1209.07 194.02 680.21 1155.80 235.86 134.93 United States 37.14 402.88 2.65 150.91 330.35 64.45 47.87 Total Foreign 299.39 1103.57 239.47 775.10 1164.15 171.42 300.61 Major Exporters 4/ 30.46 324.38 6.22 136.23 194.19 141.03 25.83 Argentina 3.19 58.37 0.02 11.92 18.03 38.32 5.23 Australia 3.97 14.44 0.00 5.25 7.13 9.69 1.60 Brazil 10.77 127.81 2.23 68.85 91.63 39.60 9.57 Canada 3.72 27.52 2.95 16.22 24.40 6.11 3.68 Russia 2.32 42.54 0.10 20.94 29.99 13.27 1.71 Ukraine 3.79 39.78 0.01 6.17 8.67 32.02 2.89 Major Importers 5/ 37.06 231.03 144.94 278.54 361.38 14.67 36.98 European Union 6/ 16.59 136.88 22.11 110.45 148.94 11.52 15.13 Japan 1.45 0.25 16.67 13.23 16.92 0.00 1.44 Mexico 5.30 28.82 25.48 34.30 54.27 0.03 5.30 N. Afr & Mideast 7/ 7.02 34.01 37.52 59.77 68.16 2.52 7.88 Saudi Arabia 1.40 0.24 7.00 6.92 7.26 0.00 1.38 Southeast Asia 8/ 2.86 30.56 19.82 40.04 49.29 0.60 3.36 South Korea 1.91 0.16 11.67 9.30 11.78 0.00 1.96 Selected Other China 206.77 297.38 48.11 245.80 338.70 0.01 213.55 ================================================================================ WASDE - 656 - 21 January 2025 World Coarse Grain Supply and Use 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2024/25 Proj. World 3/ Dec 347.12 1499.13 222.03 938.80 1522.96 231.78 323.29 Jan 348.48 1494.29 220.93 936.65 1522.78 230.10 319.99 World Less China Dec 133.57 1198.58 189.91 690.22 1182.08 231.76 117.96 Jan 134.93 1190.83 190.31 688.57 1182.40 230.08 112.75 United States Dec 47.74 397.28 2.45 151.99 331.89 68.60 46.98 Jan 47.87 390.86 2.38 150.83 331.25 68.03 41.84 Total Foreign Dec 299.38 1101.85 219.58 786.81 1191.07 163.18 276.30 Jan 300.61 1103.44 218.55 785.82 1191.54 162.07 278.15 Major Exporters 4/ Dec 24.75 322.40 4.88 140.58 197.73 138.28 16.02 Jan 25.83 321.57 4.98 140.20 199.24 137.08 16.07 Argentina Dec 5.20 60.29 0.01 14.23 20.44 41.20 3.85 Jan 5.23 60.29 0.01 14.23 20.44 41.20 3.88 Australia Dec 1.61 15.77 0.00 5.34 7.21 8.61 1.55 Jan 1.60 15.47 0.00 5.34 7.21 8.31 1.54 Brazil Dec 8.55 133.52 2.24 69.93 92.65 48.14 3.53 Jan 9.57 133.52 2.34 69.83 94.65 47.21 3.57 Canada Dec 3.68 27.52 2.35 16.74 24.75 5.73 3.07 Jan 3.68 27.52 2.35 16.74 24.75 5.73 3.07 Russia Dec 1.71 34.50 0.10 20.78 29.25 6.20 0.86 Jan 1.71 33.97 0.10 20.50 28.72 6.23 0.83 Ukraine Dec 2.89 33.24 0.02 6.61 9.10 25.58 1.47 Jan 2.89 33.24 0.02 6.61 9.10 25.58 1.47 Major Importers 5/ Dec 36.96 228.58 142.83 281.06 364.15 10.40 33.83 Jan 36.98 228.28 142.63 280.81 363.83 10.40 33.67 European Union 6/ Dec 15.11 136.41 21.05 110.79 149.47 9.04 14.06 Jan 15.13 136.11 21.05 110.64 149.25 9.04 14.00 Japan Dec 1.44 0.24 16.91 13.45 17.19 0.00 1.40 Jan 1.44 0.24 16.71 13.25 16.99 0.00 1.40 Mexico Dec 5.30 29.06 25.23 34.59 54.61 0.03 4.95 Jan 5.30 29.06 25.23 34.59 54.61 0.03 4.95 N. Afr & Mideast 7/ Dec 7.88 31.45 35.36 59.06 67.28 0.77 6.64 Jan 7.88 31.45 35.66 59.36 67.58 0.77 6.64 Saudi Arabia Dec 1.38 0.25 7.21 7.12 7.46 0.00 1.38 Jan 1.38 0.25 7.21 7.12 7.46 0.00 1.38 Southeast Asia 8/ Dec 3.36 30.91 20.41 41.90 51.25 0.56 2.86 Jan 3.36 30.91 20.41 41.90 51.25 0.56 2.86 South Korea Dec 1.96 0.16 11.90 9.53 12.02 0.00 2.01 Jan 1.96 0.16 11.60 9.33 11.82 0.00 1.91 China Dec 213.55 300.55 32.13 248.58 340.88 0.03 205.32 Jan 213.55 303.47 30.63 248.08 340.38 0.03 207.24 ================================================================================ WASDE - 656 - 22 January 2025 World Corn Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2022/23 World 3/ 314.05 1163.38 173.40 735.47 1172.76 180.34 304.67 World Less China 104.91 886.18 154.69 517.47 873.76 180.33 98.63 United States 34.98 346.74 0.98 139.35 305.93 42.22 34.55 Total Foreign 279.08 816.64 172.42 596.12 866.83 138.12 270.12 Major Exporters 4/ 19.40 233.93 1.45 91.01 120.34 115.97 18.47 Argentina 4.75 37.00 0.02 10.00 14.20 25.24 2.32 Brazil 3.97 137.00 1.33 61.50 78.00 54.26 10.04 Russia 0.93 15.83 0.05 8.90 10.00 5.90 0.91 South Africa 1.95 17.10 0.03 6.61 13.24 3.44 2.41 Ukraine 7.80 27.00 0.02 4.00 4.90 27.12 2.80 Major Importers 5/ 23.60 118.65 95.26 157.51 211.71 5.04 20.78 Egypt 1.56 7.44 6.22 11.20 13.70 0.00 1.51 European Union 6/ 11.51 52.38 23.19 55.60 74.80 4.20 8.08 Japan 1.36 0.01 14.93 11.70 15.00 0.00 1.30 Mexico 3.18 28.08 19.39 27.50 46.00 0.05 4.59 Southeast Asia 7/ 3.30 30.56 16.25 38.31 46.46 0.79 2.85 South Korea 2.06 0.09 11.10 9.00 11.35 0.00 1.90 Selected Other Canada 2.75 14.54 2.13 9.58 14.93 2.86 1.63 China 209.14 277.20 18.71 218.00 299.00 0.01 206.04 2023/24 Est. World 3/ 304.67 1230.01 197.14 771.96 1217.22 192.04 317.46 World Less China 98.63 941.17 173.73 546.96 910.22 192.03 106.18 United States 34.55 389.67 0.72 147.43 321.92 58.23 44.79 Total Foreign 270.12 840.34 196.41 624.53 895.30 133.81 272.67 Major Exporters 4/ 18.47 234.50 1.98 92.70 127.30 111.59 16.06 Argentina 2.32 50.00 0.02 10.00 14.25 34.00 4.09 Brazil 10.04 122.00 1.30 63.50 85.00 39.50 8.84 Russia 0.91 16.60 0.05 9.10 10.20 6.60 0.76 South Africa 2.41 13.40 0.60 6.80 13.60 2.00 0.81 Ukraine 2.80 32.50 0.01 3.30 4.25 29.49 1.57 Major Importers 5/ 20.78 123.29 103.33 166.05 221.80 5.02 20.57 Egypt 1.51 7.20 8.02 12.80 15.30 0.00 1.43 European Union 6/ 8.08 61.87 19.83 58.30 78.10 4.39 7.29 Japan 1.30 0.01 15.29 12.00 15.30 0.00 1.30 Mexico 4.59 23.50 24.76 29.50 48.10 0.03 4.72 Southeast Asia 7/ 2.85 30.51 19.29 39.70 48.70 0.60 3.35 South Korea 1.90 0.09 11.55 9.25 11.60 0.00 1.94 Selected Other Canada 1.63 15.42 2.81 9.76 15.78 2.09 2.00 China 206.04 288.84 23.41 225.00 307.00 0.00 211.29 ================================================================================ WASDE - 656 - 23 January 2025 World Corn Supply and Use 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2024/25 Proj. World 3/ Dec 316.22 1217.89 183.92 779.36 1237.66 193.04 296.44 Jan 317.46 1214.35 183.15 778.33 1238.47 191.41 293.34 World Less China Dec 104.93 925.89 169.92 548.36 924.66 193.02 92.18 Jan 106.18 919.43 170.15 547.33 925.47 191.39 87.16 United States Dec 44.72 384.64 0.64 147.96 322.98 62.87 44.15 Jan 44.79 377.63 0.64 146.69 321.71 62.23 39.12 Total Foreign Dec 271.50 833.25 183.29 631.40 914.69 130.18 252.29 Jan 272.67 836.71 182.52 631.64 916.76 129.18 254.22 Major Exporters 4/ Dec 15.06 234.50 1.58 95.40 130.05 113.10 7.99 Jan 16.06 234.75 1.58 95.60 132.25 112.10 8.04 Argentina Dec 4.09 51.00 0.01 12.00 16.30 36.00 2.79 Jan 4.09 51.00 0.01 12.00 16.30 36.00 2.79 Brazil Dec 7.84 127.00 1.50 64.00 85.50 48.00 2.84 Jan 8.84 127.00 1.50 64.00 87.50 47.00 2.84 Russia Dec 0.76 13.00 0.05 9.10 10.20 3.30 0.31 Jan 0.76 13.25 0.05 9.30 10.40 3.30 0.36 South Africa Dec 0.81 17.00 0.00 6.80 13.60 2.80 1.41 Jan 0.81 17.00 0.00 6.80 13.60 2.80 1.41 Ukraine Dec 1.57 26.50 0.02 3.50 4.45 23.00 0.64 Jan 1.57 26.50 0.02 3.50 4.45 23.00 0.64 Major Importers 5/ Dec 20.53 119.77 103.80 166.20 222.10 3.09 18.91 Jan 20.57 119.77 103.30 165.80 221.70 3.09 18.85 Egypt Dec 1.43 7.00 8.20 12.80 15.30 0.00 1.33 Jan 1.43 7.00 8.20 12.80 15.30 0.00 1.33 European Union 6/ Dec 7.25 58.00 19.50 56.00 75.70 2.50 6.55 Jan 7.29 58.00 19.50 56.00 75.70 2.50 6.59 Japan Dec 1.30 0.02 15.50 12.20 15.55 0.00 1.27 Jan 1.30 0.02 15.30 12.00 15.35 0.00 1.27 Mexico Dec 4.72 23.70 24.50 29.80 48.50 0.03 4.39 Jan 4.72 23.70 24.50 29.80 48.50 0.03 4.39 Southeast Asia 7/ Dec 3.35 30.86 19.60 41.30 50.40 0.56 2.85 Jan 3.35 30.86 19.60 41.30 50.40 0.56 2.85 South Korea Dec 1.94 0.10 11.80 9.50 11.85 0.00 1.99 Jan 1.94 0.10 11.50 9.30 11.65 0.00 1.89 Canada Dec 2.00 15.35 2.20 10.00 15.60 2.10 1.84 Jan 2.00 15.35 2.20 10.00 15.60 2.10 1.84 China Dec 211.29 292.00 14.00 231.00 313.00 0.02 204.27 Jan 211.29 294.92 13.00 231.00 313.00 0.02 206.18 ================================================================================ WASDE - 656 - 24 January 2025 World Rice Supply and Use (Milled Basis) 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Total 2/ Ending Stocks tion Imports Domestic Exports Stocks ================================================================================ 2022/23 World 3/ 184.19 516.73 57.33 520.26 55.15 180.66 World Less China 71.19 370.78 52.94 365.27 53.41 74.06 United States 1.26 5.08 1.27 4.60 2.05 0.96 Total Foreign 182.93 511.65 56.06 515.67 53.09 179.69 Major Exporters 4/ 45.49 202.93 3.31 163.34 42.54 45.85 Burma 1.08 11.80 0.01 10.20 1.58 1.11 India 34.00 135.76 0.00 114.51 20.25 35.00 Pakistan 2.38 7.32 0.01 3.93 3.76 2.02 Thailand 4.43 20.91 0.05 12.30 8.74 4.35 Vietnam 3.61 27.14 3.25 22.40 8.23 3.37 Major Importers 5/ 125.49 238.82 23.42 263.79 2.16 121.77 China 113.00 145.95 4.38 154.99 1.74 106.60 European Union 6/ 0.91 1.29 2.32 3.30 0.39 0.83 Indonesia 2.90 33.90 3.50 35.60 0.00 4.70 Nigeria 2.05 5.41 2.28 7.50 0.00 2.23 Philippines 3.10 12.63 3.75 16.10 0.00 3.38 Sel. Mideast 7/ 1.16 2.01 4.46 6.35 0.00 1.27 Selected Other Brazil 0.90 6.82 1.04 7.00 1.15 0.62 C. Amer & Carib 8/ 0.51 1.53 1.98 3.35 0.05 0.62 Egypt 0.61 3.60 0.39 4.00 0.01 0.60 Japan 1.90 7.48 0.66 8.15 0.08 1.81 Mexico 0.14 0.14 0.78 0.98 0.00 0.09 South Korea 1.33 3.76 0.26 3.88 0.06 1.43 2023/24 Est. World 3/ 180.66 522.62 52.96 523.77 56.96 179.50 World Less China 74.06 378.00 51.43 375.66 55.33 76.50 United States 0.96 6.92 1.42 4.92 3.12 1.27 Total Foreign 179.69 515.70 51.55 518.86 53.84 178.23 Major Exporters 4/ 45.85 205.89 3.91 164.90 42.67 48.08 Burma 1.11 11.90 0.00 9.80 2.70 0.51 India 35.00 137.83 0.00 116.40 14.43 42.00 Pakistan 2.02 9.87 0.01 4.00 6.54 1.35 Thailand 4.35 20.00 0.10 12.30 10.00 2.15 Vietnam 3.37 26.30 3.80 22.40 9.00 2.07 Major Importers 5/ 121.77 237.33 20.36 258.54 2.02 118.90 China 106.60 144.62 1.53 148.12 1.63 103.00 European Union 6/ 0.83 1.44 2.11 3.25 0.36 0.76 Indonesia 4.70 33.02 4.25 36.10 0.00 5.87 Nigeria 2.23 5.61 1.89 7.55 0.00 2.17 Philippines 3.38 12.33 4.50 16.60 0.00 3.60 Sel. Mideast 7/ 1.27 2.02 4.61 6.58 0.00 1.32 Selected Other Brazil 0.62 7.20 1.00 7.15 1.00 0.67 C. Amer & Carib 8/ 0.62 1.51 1.87 3.26 0.05 0.68 Egypt 0.60 3.78 0.18 4.05 0.01 0.51 Japan 1.81 7.30 0.73 8.15 0.09 1.60 Mexico 0.09 0.15 0.85 0.99 0.01 0.10 South Korea 1.43 3.70 0.40 4.15 0.13 1.25 ================================================================================ WASDE - 656 - 25 January 2025 World Rice Supply and Use (Milled Basis) 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Total 2/ Ending Stocks tion Imports Domestic Exports Stocks ================================================================================ 2024/25 Proj. World 3/ Dec 179.11 533.68 54.71 530.32 58.12 182.47 Jan 179.50 532.87 54.06 530.24 57.91 182.13 World Less China Dec 76.11 387.68 53.01 384.62 57.12 78.47 Jan 76.50 387.59 52.36 384.77 56.91 78.63 United States Dec 1.25 6.98 1.48 5.05 3.18 1.48 Jan 1.27 7.05 1.48 5.24 3.18 1.38 Total Foreign Dec 177.86 526.70 53.24 525.27 54.94 180.99 Jan 178.23 525.81 52.59 525.00 54.74 180.74 Major Exporters 4/ Dec 47.68 213.45 3.51 169.73 44.00 50.91 Jan 48.08 213.45 3.51 169.80 43.70 51.54 Burma Dec 0.51 11.85 0.01 10.00 1.50 0.87 Jan 0.51 11.85 0.01 10.00 1.50 0.87 India Dec 42.00 145.00 0.00 121.00 21.50 44.50 Jan 42.00 145.00 0.00 121.00 21.50 44.50 Pakistan Dec 1.35 10.00 0.00 4.10 5.50 1.75 Jan 1.35 10.00 0.00 4.10 5.70 1.55 Thailand Dec 2.15 20.10 0.10 12.30 7.70 2.35 Jan 2.15 20.10 0.10 12.30 7.50 2.55 Vietnam Dec 1.67 26.50 3.40 22.33 7.80 1.45 Jan 2.07 26.50 3.40 22.40 7.50 2.07 Major Importers 5/ Dec 118.74 239.28 20.10 258.13 1.45 118.55 Jan 118.90 238.35 19.50 257.60 1.45 117.70 China Dec 103.00 146.00 1.70 145.70 1.00 104.00 Jan 103.00 145.28 1.70 145.48 1.00 103.50 European Union 6/ Dec 0.76 1.67 2.20 3.35 0.40 0.88 Jan 0.76 1.67 2.20 3.35 0.40 0.88 Indonesia Dec 5.72 34.00 1.50 36.60 0.00 4.62 Jan 5.87 34.00 1.00 36.60 0.00 4.27 Nigeria Dec 2.17 5.23 2.20 7.60 0.00 2.00 Jan 2.17 5.23 2.40 7.60 0.00 2.20 Philippines Dec 3.60 12.00 5.30 17.20 0.00 3.70 Jan 3.60 12.00 5.30 17.20 0.00 3.70 Sel. Mideast 7/ Dec 1.32 2.28 4.70 6.93 0.00 1.37 Jan 1.32 2.28 4.70 6.93 0.00 1.37 Brazil Dec 0.72 8.00 0.90 7.30 1.30 1.02 Jan 0.67 8.00 0.90 7.25 1.30 1.02 C. Amer & Carib 8/ Dec 0.68 1.51 2.01 3.40 0.06 0.75 Jan 0.68 1.51 2.04 3.43 0.06 0.75 Egypt Dec 0.51 3.90 0.25 4.10 0.01 0.55 Jan 0.51 3.90 0.20 4.10 0.01 0.50 Japan Dec 1.60 7.35 0.69 8.00 0.09 1.55 Jan 1.60 7.35 0.69 8.00 0.09 1.55 Mexico Dec 0.10 0.16 0.86 1.01 0.01 0.11 Jan 0.10 0.16 0.86 1.01 0.01 0.11 South Korea Dec 1.24 3.59 0.44 3.95 0.13 1.19 Jan 1.25 3.59 0.44 3.95 0.13 1.20 ================================================================================ WASDE - 656 - 26 January 2025 World Cotton Supply and Use 1/ (Million 480-Pound Bales) ================================================================================ Supply Use Region Beginning Produc- Loss Ending Stocks tion Imports Domestic Exports 2/ Stocks ================================================================================ 2022/23 World 70.88 116.30 37.74 112.64 36.65 -0.27 75.90 World Less China 36.72 85.55 31.51 74.94 36.55 -0.27 42.55 United States 4.60 14.47 3/ 2.05 12.45 -0.08 4.65 Total Foreign 66.28 101.83 37.74 110.59 24.20 -0.19 71.25 Major Exporters 4/ 21.76 55.72 2.47 32.81 20.05 -0.20 27.28 Central Asia 5/ 2.73 5.50 0.10 3.53 1.12 0.00 3.69 Afr. Fr. Zone 6/ 1.01 4.02 3/ 0.10 3.98 0.00 0.96 S. Hemis. 7/ 9.19 19.32 0.14 4.12 13.39 -0.20 11.34 Australia 4.98 5.80 3/ 0.01 6.19 -0.20 4.78 Brazil 2.05 11.72 0.01 3.11 6.66 0.00 4.01 India 8.40 26.30 1.73 24.50 1.10 0.00 10.82 Major Importers 8/ 42.77 42.93 32.86 73.77 3.01 0.02 41.77 Mexico 0.32 1.58 0.69 1.80 0.41 0.00 0.38 China 34.17 30.75 6.23 37.70 0.09 0.00 33.36 European Union 9/ 0.30 1.64 0.52 0.56 1.52 0.00 0.39 Turkey 1.92 4.90 4.19 7.50 0.86 0.02 2.63 Pakistan 1.93 3.90 4.50 8.70 0.10 0.00 1.53 Indonesia 0.46 3/ 1.66 1.75 0.02 0.00 0.36 Thailand 0.15 3/ 0.66 0.68 0.00 0.00 0.14 Bangladesh 2.28 0.15 7.00 7.70 0.00 0.00 1.73 Vietnam 1.02 3/ 6.47 6.45 0.00 0.00 1.05 2023/24 Est. World 75.90 112.98 44.01 114.33 44.61 -0.21 74.16 World Less China 42.55 85.63 29.03 75.83 44.54 -0.21 37.05 United States 4.65 12.07 3/ 1.85 11.75 -0.03 3.15 Total Foreign 71.25 100.92 44.00 112.48 32.86 -0.18 71.01 Major Exporters 4/ 27.28 57.96 1.58 34.30 28.29 -0.18 24.40 Central Asia 5/ 3.69 5.03 0.05 3.84 1.67 0.00 3.25 Afr. Fr. Zone 6/ 0.96 5.02 3/ 0.10 4.59 0.00 1.29 S. Hemis. 7/ 11.34 22.03 0.15 4.22 19.25 -0.18 10.22 Australia 4.78 5.00 3/ 0.01 5.74 -0.18 4.20 Brazil 4.01 14.57 0.01 3.16 12.31 0.00 3.11 India 10.82 25.40 0.89 25.50 2.31 0.00 9.30 Major Importers 8/ 41.77 39.62 39.96 74.10 2.99 0.00 44.27 Mexico 0.38 0.87 0.70 1.50 0.20 0.00 0.24 China 33.36 27.35 14.98 38.50 0.06 0.00 37.12 European Union 9/ 0.39 1.04 0.48 0.51 1.14 0.00 0.26 Turkey 2.63 3.20 3.57 6.60 1.39 0.00 1.41 Pakistan 1.53 7.00 3.20 9.70 0.18 0.00 1.85 Indonesia 0.36 3/ 1.85 1.80 0.01 0.00 0.40 Thailand 0.14 3/ 0.40 0.45 0.00 0.00 0.09 Bangladesh 1.73 0.16 7.58 7.75 0.00 0.00 1.71 Vietnam 1.05 3/ 6.59 6.60 0.00 0.00 1.03 ================================================================================ WASDE - 656 - 27 January 2025 World Cotton Supply and Use 1/ (Million 480-Pound Bales) ================================================================================ Supply Use Region Beginning Produc- Loss Ending Stocks tion Imports Domestic Exports 2/ Stocks ================================================================================ 2024/25 Proj. World Dec 74.16 117.39 42.25 115.79 42.26 -0.27 76.02 Jan 74.16 119.45 42.45 115.89 42.48 -0.22 77.91 World Less China Dec 37.05 89.19 33.75 78.29 42.18 -0.27 39.77 Jan 37.05 89.45 34.45 78.39 42.38 -0.22 40.39 United States Dec 3.15 14.26 0.01 1.80 11.30 -0.09 4.40 Jan 3.15 14.41 0.01 1.80 11.00 -0.03 4.80 Total Foreign Dec 71.01 103.13 42.25 113.99 30.96 -0.18 71.62 Jan 71.01 105.03 42.45 114.09 31.48 -0.19 73.11 Major Exporters 4/ Dec 24.40 59.82 3.07 35.17 26.92 -0.18 25.38 Jan 24.40 60.22 3.37 35.17 27.42 -0.19 25.60 Central Asia 5/ Dec 3.25 5.17 0.10 4.07 1.39 0.00 3.07 Jan 3.25 5.17 0.10 4.07 1.39 0.00 3.07 Afr. Fr. Zone 6/ Dec 1.29 4.71 3/ 0.10 4.58 0.00 1.33 Jan 1.29 4.71 3/ 0.10 4.58 0.00 1.33 S. Hemis. 7/ Dec 10.22 24.36 0.15 4.36 19.16 -0.18 11.38 Jan 10.22 24.76 0.15 4.36 19.56 -0.19 11.40 Australia Dec 4.20 5.00 3/ 0.01 5.40 -0.18 3.97 Jan 4.20 5.40 3/ 0.01 5.50 -0.19 4.28 Brazil Dec 3.11 16.90 0.01 3.30 12.50 0.00 4.22 Jan 3.11 16.90 0.01 3.30 12.80 0.00 3.92 India Dec 9.30 25.00 2.30 26.00 1.30 0.00 9.30 Jan 9.30 25.00 2.60 26.00 1.40 0.00 9.50 Major Importers 8/ Dec 44.27 39.94 36.43 74.46 2.30 0.00 43.88 Jan 44.27 41.44 36.33 74.56 2.32 0.00 45.16 Mexico Dec 0.24 0.83 0.83 1.50 0.15 0.00 0.24 Jan 0.24 0.83 0.83 1.50 0.15 0.00 0.24 China Dec 37.12 28.20 8.50 37.50 0.08 0.00 36.24 Jan 37.12 30.00 8.00 37.50 0.10 0.00 37.52 European Union 9/ Dec 0.26 1.26 0.54 0.56 1.20 0.00 0.29 Jan 0.26 1.26 0.54 0.56 1.20 0.00 0.29 Turkey Dec 1.41 4.00 4.30 7.10 0.80 0.00 1.81 Jan 1.41 4.00 4.20 7.00 0.80 0.00 1.81 Pakistan Dec 1.85 5.50 4.50 9.90 0.05 0.00 1.90 Jan 1.85 5.20 4.80 9.90 0.05 0.00 1.90 Indonesia Dec 0.40 3/ 2.00 2.00 0.01 0.00 0.39 Jan 0.40 3/ 2.00 2.00 0.01 0.00 0.39 Thailand Dec 0.09 3/ 0.43 0.44 0.00 0.00 0.08 Jan 0.09 3/ 0.43 0.44 0.00 0.00 0.08 Bangladesh Dec 1.71 0.15 7.70 7.80 0.00 0.00 1.76 Jan 1.71 0.15 7.80 7.90 0.00 0.00 1.76 Vietnam Dec 1.03 3/ 7.00 7.00 0.00 0.00 1.04 Jan 1.03 3/ 7.10 7.10 0.00 0.00 1.04 ================================================================================ WASDE - 656 - 28 January 2025 World Soybean Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic Ending Stocks tion Imports Crush Total Exports Stocks ================================================================================ 2022/23 World 2/ 92.90 378.16 168.60 315.62 366.67 171.75 101.24 World Less China 67.76 357.88 64.10 219.62 249.17 171.66 68.90 United States 7.47 116.22 0.67 60.20 63.29 53.87 7.19 Total Foreign 85.43 261.94 167.94 255.42 303.38 117.88 94.05 Major Exporters 3/ 51.49 197.95 9.25 87.23 97.45 106.96 54.28 Argentina 23.69 25.00 9.06 30.32 36.57 4.19 17.00 Brazil 27.38 162.00 0.15 53.41 57.21 95.50 36.82 Paraguay 0.18 10.25 0.01 3.45 3.58 6.50 0.37 Major Importers 4/ 27.78 23.80 135.63 123.45 152.37 0.33 34.51 China 25.15 20.28 104.50 96.00 117.50 0.09 32.34 European Union 1.45 2.61 13.13 14.30 15.87 0.23 1.08 Southeast Asia 5/ 0.64 0.49 8.23 3.90 8.66 0.01 0.68 Mexico 0.30 0.18 6.44 6.65 6.70 0.00 0.22 2023/24 Est. World 2/ 101.24 394.97 178.08 331.24 384.29 177.62 112.38 World Less China 68.90 374.13 66.08 232.24 262.49 177.55 69.07 United States 7.19 113.27 0.57 62.24 65.58 46.13 9.32 Total Foreign 94.05 281.69 177.52 269.00 318.70 131.50 103.06 Major Exporters 3/ 54.28 215.50 8.69 94.38 105.73 120.33 52.41 Argentina 17.00 48.21 7.79 36.58 43.83 5.11 24.05 Brazil 36.82 153.00 0.87 54.70 58.55 104.17 27.97 Paraguay 0.37 11.00 0.02 3.00 3.10 8.10 0.19 Major Importers 4/ 34.51 24.69 144.05 126.75 157.24 0.35 45.67 China 32.34 20.84 112.00 99.00 121.80 0.07 43.31 European Union 1.08 2.95 13.46 14.50 16.12 0.25 1.12 Southeast Asia 5/ 0.68 0.47 9.04 4.37 9.38 0.02 0.80 Mexico 0.22 0.19 6.46 6.53 6.59 0.01 0.27 2024/25 Proj. World 2/ Dec 112.16 427.14 178.18 347.42 403.64 181.97 131.87 Jan 112.38 424.26 179.24 349.29 405.53 181.97 128.37 World Less China Dec 68.85 406.44 69.18 244.42 276.74 181.87 85.86 Jan 69.07 403.61 70.24 246.29 278.63 181.87 82.41 United States Dec 9.31 121.42 0.41 65.59 68.67 49.67 12.80 Jan 9.32 118.84 0.54 65.59 68.70 49.67 10.34 Total Foreign Dec 102.85 305.72 177.77 281.83 334.97 132.31 119.07 Jan 103.06 305.42 178.69 283.70 336.84 132.31 118.03 Major Exporters 3/ Dec 52.50 235.30 6.18 98.60 110.63 120.10 63.25 Jan 52.41 235.30 6.18 99.60 111.63 120.10 62.17 Argentina Dec 24.08 52.00 6.00 41.00 48.60 4.50 28.98 Jan 24.05 52.00 6.00 41.00 48.60 4.50 28.95 Brazil Dec 27.97 169.00 0.15 54.00 58.10 105.50 33.52 Jan 27.97 169.00 0.15 55.00 59.10 105.50 32.52 Paraguay Dec 0.19 11.20 0.02 3.50 3.68 7.30 0.43 Jan 0.19 11.20 0.02 3.50 3.68 7.30 0.43 Major Importers 4/ Dec 45.57 24.47 143.54 132.14 163.99 0.42 49.18 Jan 45.67 24.42 143.52 132.22 164.07 0.42 49.12 China Dec 43.31 20.70 109.00 103.00 126.90 0.10 46.01 Jan 43.31 20.65 109.00 103.00 126.90 0.10 45.96 European Union Dec 1.13 2.85 14.60 15.20 16.97 0.30 1.31 Jan 1.12 2.85 14.60 15.20 16.97 0.30 1.30 Southeast Asia 5/ Dec 0.70 0.46 9.89 4.75 9.83 0.01 1.20 Jan 0.80 0.46 9.87 4.83 9.91 0.01 1.20 Mexico Dec 0.27 0.21 6.70 6.65 6.71 0.00 0.47 Jan 0.27 0.21 6.70 6.65 6.71 0.00 0.47 ================================================================================ WASDE - 656 - 29 January 2025 World Soybean Meal Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Stocks tion Imports Domestic Exports Stocks Region Beginning Produc- Total Exports Ending ================================================================================ 2022/23 World 2/ 16.46 247.91 63.36 247.30 67.08 13.35 World Less China 15.75 171.88 63.32 172.25 66.29 12.41 United States 0.28 47.62 0.58 34.95 13.20 0.34 Total Foreign 16.18 200.29 62.79 212.36 53.89 13.01 Major Exporters 3/ 6.88 73.01 0.10 30.38 43.97 5.65 Argentina 2.80 23.65 0.07 3.45 20.76 2.30 Brazil 3.66 41.13 0.01 20.30 21.33 3.15 India 0.42 8.24 0.03 6.63 1.87 0.20 Major Importers 4/ 2.25 21.55 36.75 57.95 0.98 1.63 European Union 0.60 11.30 16.00 26.74 0.74 0.41 Mexico 0.15 5.26 1.67 6.93 0.00 0.15 Southeast Asia 5/ 1.41 3.04 17.55 20.73 0.24 1.03 China 0.71 76.03 0.04 75.05 0.80 0.94 2023/24 Est. World 2/ 13.35 260.10 69.64 254.26 74.51 14.32 World Less China 12.41 181.69 69.61 177.11 73.08 13.52 United States 0.34 49.12 0.62 35.06 14.61 0.41 Total Foreign 13.01 210.98 69.01 219.21 59.90 13.90 Major Exporters 3/ 5.65 79.69 0.05 30.53 49.58 5.28 Argentina 2.30 28.54 0.00 3.45 24.89 2.49 Brazil 3.15 42.12 0.02 20.00 22.72 2.57 India 0.20 9.04 0.03 7.08 1.97 0.22 Major Importers 4/ 1.63 21.79 38.37 58.64 0.93 2.23 European Union 0.41 11.46 16.54 26.94 0.65 0.81 Mexico 0.15 5.16 1.94 7.08 0.00 0.16 Southeast Asia 5/ 1.03 3.41 18.08 21.04 0.27 1.21 China 0.94 78.41 0.03 77.15 1.43 0.79 2024/25 Proj. World 2/ Dec 14.33 272.48 71.91 266.60 75.37 16.74 Jan 14.32 274.11 72.21 267.98 75.67 16.99 World Less China Dec 13.53 190.91 71.86 186.05 74.37 15.87 Jan 13.52 192.54 72.16 187.43 74.67 16.12 United States Dec 0.41 51.48 0.61 36.31 15.79 0.41 Jan 0.41 51.66 0.61 36.49 15.79 0.41 Total Foreign Dec 13.91 221.00 71.29 230.29 59.59 16.34 Jan 13.90 222.45 71.59 231.48 59.89 16.58 Major Exporters 3/ Dec 5.27 82.36 0.07 32.06 49.80 5.84 Jan 5.28 83.13 0.07 32.25 50.10 6.13 Argentina Dec 2.48 31.98 0.01 3.53 28.00 2.95 Jan 2.49 31.98 0.01 3.53 28.00 2.96 Brazil Dec 2.57 41.58 0.01 21.00 20.50 2.66 Jan 2.57 42.35 0.01 21.00 21.00 2.93 India Dec 0.22 8.80 0.05 7.54 1.30 0.24 Jan 0.22 8.80 0.05 7.73 1.10 0.25 Major Importers 4/ Dec 2.08 22.87 39.93 60.98 1.19 2.71 Jan 2.23 22.93 40.33 61.61 1.19 2.68 European Union Dec 0.87 12.01 16.50 27.59 0.90 0.89 Jan 0.81 12.01 16.60 27.69 0.90 0.82 Mexico Dec 0.16 5.26 2.20 7.33 0.00 0.28 Jan 0.16 5.26 2.20 7.33 0.00 0.28 Southeast Asia 5/ Dec 1.00 3.70 19.43 22.37 0.29 1.47 Jan 1.21 3.77 19.73 22.90 0.29 1.51 China Dec 0.79 81.58 0.05 80.55 1.00 0.87 Jan 0.79 81.58 0.05 80.55 1.00 0.87 ================================================================================ WASDE - 656 - 30 January 2025 World Soybean Oil Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Stocks tion Imports Domestic Exports Stocks Region Beginning Produc- Total Exports Ending ================================================================================ 2022/23 World 2/ 5.14 59.67 10.89 58.90 11.75 5.05 World Less China 4.76 42.47 10.50 41.90 11.64 4.18 United States 0.90 11.90 0.17 12.07 0.17 0.73 Total Foreign 4.24 47.77 10.72 46.83 11.58 4.33 Major Exporters 3/ 2.05 19.94 0.67 12.91 8.26 1.49 Argentina 0.53 5.99 0.00 2.06 4.14 0.32 Brazil 0.95 10.58 0.03 8.38 2.69 0.49 European Union 0.56 2.72 0.64 2.41 0.92 0.60 Major Importers 4/ 0.83 20.09 6.28 25.34 0.19 1.69 China 0.39 17.20 0.40 17.00 0.11 0.87 India 0.19 1.85 3.97 5.40 0.01 0.60 North Africa 5/ 0.24 0.74 1.24 1.95 0.07 0.20 2023/24 Est. World 2/ 5.05 62.80 10.58 61.21 11.87 5.35 World Less China 4.18 45.06 10.20 43.06 11.76 4.61 United States 0.73 12.31 0.28 12.36 0.28 0.68 Total Foreign 4.33 50.49 10.30 48.86 11.59 4.67 Major Exporters 3/ 1.49 21.52 0.68 13.87 8.09 1.73 Argentina 0.32 7.25 0.00 1.71 5.53 0.33 Brazil 0.49 10.94 0.08 9.45 1.35 0.71 European Union 0.60 2.76 0.59 2.63 0.66 0.66 Major Importers 4/ 1.69 21.07 5.33 26.12 0.26 1.71 China 0.87 17.74 0.38 18.15 0.10 0.74 India 0.60 2.03 3.31 5.18 0.02 0.75 North Africa 5/ 0.20 0.93 1.07 1.86 0.14 0.19 2024/25 Proj. World 2/ Dec 5.30 65.86 11.79 65.27 12.65 5.03 Jan 5.35 66.25 12.13 65.74 12.88 5.11 World Less China Dec 4.56 47.40 11.29 46.37 12.55 4.33 Jan 4.61 47.79 11.63 46.84 12.78 4.41 United States Dec 0.68 12.98 0.23 12.70 0.50 0.68 Jan 0.68 13.01 0.25 12.52 0.73 0.69 Total Foreign Dec 4.62 52.88 11.56 52.57 12.15 4.34 Jan 4.67 53.24 11.88 53.22 12.15 4.42 Major Exporters 3/ Dec 1.74 22.48 0.69 14.62 8.88 1.41 Jan 1.73 22.68 0.70 14.82 8.88 1.41 Argentina Dec 0.32 8.13 0.00 2.36 5.80 0.29 Jan 0.33 8.13 0.01 2.36 5.80 0.30 Brazil Dec 0.71 10.80 0.04 9.53 1.55 0.48 Jan 0.71 11.00 0.04 9.73 1.55 0.48 European Union Dec 0.67 2.89 0.65 2.66 0.95 0.60 Jan 0.66 2.89 0.65 2.66 0.95 0.59 Major Importers 4/ Dec 1.71 21.93 6.20 28.12 0.21 1.52 Jan 1.71 21.93 6.20 28.12 0.21 1.52 China Dec 0.74 18.46 0.50 18.90 0.10 0.70 Jan 0.74 18.46 0.50 18.90 0.10 0.70 India Dec 0.75 1.98 3.80 6.00 0.02 0.51 Jan 0.75 1.98 3.80 6.00 0.02 0.51 North Africa 5/ Dec 0.19 1.10 1.25 2.20 0.08 0.27 Jan 0.19 1.10 1.25 2.20 0.08 0.27 ================================================================================ WASDE - 656 - 31 January 2025 U.S. Quarterly Animal Product Production 1/ ================================================================================ Year Red Total Red and meat poultry meat & quarter Beef Pork 2/ Broiler Turkey 3/ poultry Egg Milk ================================================================================ Million Pounds Mil doz Bil lbs 2023 Annual 26967 27302 54448 46387 5457 52431 106880 9142 226.4 2024 I 6560 7094 13699 11430 1269 12834 26533 2266 57.0 II 6766 6714 13523 11654 1306 13105 26628 2240 57.4 III 6780 6775 13597 12003 1282 13435 27032 2249 56.1 IV 6880 7205 14129 11900 1260 13295 27424 2250 55.4 DecProj. 27035 27823 55032 47187 5147 52904 107936 9031 226.3 Jan Est. 26985 27788 54947 46987 5117 52669 107616 9006 225.8 2025 I* 6600 7125 13769 11700 1230 13075 26844 2195 56.7 II* 6695 6875 13613 11825 1260 13230 26843 2240 57.8 III* 6430 6990 13462 12100 1300 13550 27012 2330 56.6 IV* 6065 7520 13629 12000 1310 13455 27084 2375 56.1 DecProj. 25665 28370 54208 47925 5145 53655 107863 9310 228.0 JanProj. 25790 28510 54473 47625 5100 53310 107783 9140 227.2 ================================================================================ U.S. Quarterly Prices for Animal Products ================================================================================ Year Barrows and Streers and gilts Broilers Turkeys Eggs Milk quarter 2/ 3/ 4/ 5/ 6/ 7/ ================================================================================ Dol./cwt Dol./cwt Cents/lb. Cents/lb. Cents/doz. Dol./cwt 2023 Annual 175.54 58.59 124.4 140.1 192.4 20.34 2024 I 181.03 54.97 128.0 92.1 258.5 20.47 II 188.42 65.53 132.1 95.7 227.1 21.77 III 189.26 63.71 127.4 93.3 317.2 23.97 IV 189.75 62.03 130.0 93.5 409.5 24.20 DecProj. 186.68 61.55 129.4 94.5 299.5 22.65 Jan Est. 187.12 61.56 129.4 93.6 303.1 22.60 2025 I* 194.00 61.00 132.0 94.0 480.0 23.40 II* 194.00 66.00 134.0 97.0 250.0 22.90 III* 196.00 70.00 130.0 100.0 210.0 22.70 IV* 198.00 56.00 130.0 103.0 235.0 23.20 DecProj. 191 62 130 101 230 22.55 JanProj. 196.0 63.0 132.0 99.0 294.0 23.05 ================================================================================ WASDE - 656 - 32 January 2025 U.S. Meats Supply and Use ================================================================================ Disappearance Beg- Produc- Per Item inning tion Total Ending capita stocks 1/ Imports Supply Exports stocks Total 2/ 3/ ================================================================================ Million Pounds 4/ Beef 2023 723 27034 3725 31482 3038 638 27807 58.1 2024 Est. Dec 638 27102 4588 32327 2960 620 28747 59.7 Jan 638 27052 4618 32307 2995 620 28692 59.6 2025 Proj. Dec 620 25732 4710 31062 2595 580 27887 57.6 Jan 620 25857 4770 31247 2595 580 28072 58.0 Pork 2023 504 27318 1142 28965 6824 471 21670 50.2 2024 Est. Dec 471 27838 1152 29462 7118 435 21909 50.5 Jan 471 27803 1147 29422 7108 435 21879 50.4 2025 Proj. Dec 435 28385 1140 29960 7325 430 22205 50.9 Jan 435 28525 1140 30100 7325 430 22345 51.2 TotalRed Meat5/ 2023 1256 54540 5152 60948 9867 1130 49950 109.5 2024 Est. Dec 1130 55124 6097 62351 10083 1080 51188 111.6 Jan 1130 55039 6127 62295 10108 1079 51109 111.4 2025 Proj. Dec 1080 54299 6205 61584 9925 1031 50628 109.9 Jan 1079 54564 6275 61918 9925 1031 50962 110.6 Broiler 2023 892 45890 131 46914 7260 835 38819 99.5 2024 Est. Dec 835 46682 147 47664 6742 790 40133 102.3 Jan 835 46484 147 47466 6737 785 39945 101.8 2025 Proj. Dec 790 47412 140 48342 6795 790 40757 103.3 Jan 785 47115 140 48040 6735 790 40515 102.7 Turkey 2023 190 5457 35 5682 490 243 4949 14.8 2024 Est. Dec 243 5147 37 5428 502 200 4726 14.0 Jan 243 5117 37 5398 487 210 4701 14.0 2025 Proj. Dec 200 5145 32 5377 530 210 4637 13.7 Jan 210 5100 40 5350 495 210 4645 13.7 Total Poultry6/ 2023 1087 51934 170 53192 7770 1085 44337 115.9 2024 Est. Dec 1085 52398 189 53672 7265 995 45413 118.0 Jan 1085 52165 189 53439 7244 1000 45196 117.4 2025 Proj. Dec 995 53142 178 54314 7345 1006 45963 118.7 Jan 1000 52800 186 53985 7246 1006 45733 118.1 RedMeat& Poultry 2023 2343 106474 5323 114140 17637 2215 94287 225.4 2024 Est. Dec 2215 107522 6286 116023 17348 2074 96601 229.5 Jan 2215 107204 6316 115735 17352 2078 96305 228.8 2025 Proj. Dec 2074 107441 6383 115898 17270 2037 96591 228.6 Jan 2078 107364 6461 115903 17171 2037 96695 228.7 ================================================================================ WASDE - 656 - 33 January 2025 U.S. Egg Supply and Use ================================================================================ 2022 2023 2024Proj. 2024 Est. 2025Proj. 2025Proj. Commodity Dec Jan Dec Jan ================================================================================ Million Dozen Eggs Supply BeginningStocks 19.1 18.8 23.1 23.1 19.0 19.0 Production 9116.6 9142.4 9030.6 9005.6 9310.0 9140.0 Imports 26.0 27.5 30.1 29.1 30.0 30.0 Total Supply 9161.7 9188.6 9083.8 9057.8 9359.0 9189.0 Use Exports 226.6 250.5 238.5 233.5 248.0 243.0 Hatching Use 1117.3 1112.5 1147.3 1142.3 1135.0 1135.0 Ending Stocks 18.8 23.1 19.0 19.0 22.0 22.0 Disappearance Total 7799.1 7802.6 7679.0 7663.0 7954.0 7789.0 Per Capita (number) 280.6 279.3 273.5 272.9 281.7 275.9 ================================================================================ U.S. Milk Supply and Use ================================================================================ 2022 2023 2024Proj. 2024 Est. 2025Proj. 2025Proj. Commodity Dec Jan Dec Jan ================================================================================ Billion Pounds Milk Production 226.4 226.4 226.3 225.8 228.0 227.2 Farm Use 1.0 1.0 1.0 1.0 1.0 1.0 FatBasisSupply BeginningStocks 14.3 14.4 13.8 13.8 13.7 13.2 Marketings 225.4 225.4 225.3 224.8 227.0 226.2 Imports 7.1 7.4 9.2 9.5 9.1 9.3 Total Supply 246.8 247.1 248.2 248.0 249.9 248.8 FatBasisUse Exports 12.8 10.5 11.7 11.8 11.7 11.9 Ending Stocks 14.4 13.8 13.7 13.2 13.0 13.1 Domestic Use 219.6 222.9 222.9 223.0 225.1 223.8 Skim-solidBasisSupply BeginningStocks 11.1 11.7 9.9 9.9 9.8 9.9 Marketings 225.4 225.4 225.3 224.8 227.0 226.2 Imports 6.7 6.3 6.8 6.8 7.4 7.3 Total Supply 243.2 243.3 242.0 241.5 244.2 243.4 Skim-solidBasisUse Exports 52.9 49.9 49.4 49.1 49.5 49.1 Ending Stocks 11.7 9.9 9.8 9.9 9.7 10.3 Domestic Use 178.7 183.6 182.8 182.4 185.1 184.1 ================================================================================ WASDE - 656 - 34 January 2025 U.S. Dairy Prices ================================================================================ Commod- 2022 2023 2024 Proj. 2024 Est. 2025 Proj. 2025 Proj. ity Dec Jan Dec Jan ================================================================================ Dollars Per Pound Product Prices 1/ Cheese 2.1122 1.7593 1.865 1.8634 1.800 1.865 Butter 2.8665 2.6170 2.890 2.8870 2.685 2.695 Nonfat Dry Milk 1.6851 1.1856 1.240 1.2420 1.300 1.340 Dry Whey 0.6057 0.3618 0.490 0.4913 0.595 0.640 Milk Prices 2/ Dollars Per Cwt ClassIII 21.96 17.02 18.90 18.89 18.80 19.70 Class IV 24.47 19.12 20.75 20.75 20.40 20.80 All Milk 3/ 25.34 20.34 22.65 22.60 22.55 23.05 ================================================================================ WASDE - 656 - 35 January 2025 Reliability of January Projections 1/ ================================================================================ Differences between forecast and final estimate 90 percent Years Commodity and Root mean Confidence Below Above Region square error interval Average Smallest Largest Final Final ================================================================================ Million Metric Tons WHEAT Production World 0.7 1.1 3.1 0.0 8.3 33 9 U.S. 0.2 0.3 0.1 0.0 0.3 18 12 Foreign 0.8 1.3 3.1 0.1 8.3 32 10 Exports World 5.1 8.7 5.6 0.1 18.4 33 9 U.S. 4.9 8.3 1.3 0.1 3.9 21 21 Foreign 6.2 10.4 5.4 0.3 18.0 35 7 Domestic Use World 1.2 2.1 5.5 0.1 22.7 26 16 U.S. 4.5 7.6 1.1 0.0 3.0 12 29 Foreign 1.2 2.1 5.5 0.6 23.6 28 14 Ending Stocks World 4.9 8.2 6.5 0.2 25.2 29 13 U.S. 8.6 14.4 1.4 0.0 4.6 27 14 Foreign 5.3 8.9 5.7 0.1 25.5 29 13 COARSE GRAINS 2/ Production World 1.3 2.2 11.0 0.0 37.7 30 12 U.S. 0.4 0.7 0.4 0.0 4.6 17 12 Foreign 1.8 3.1 10.9 0.0 37.6 29 13 Exports World 6.2 10.4 5.9 0.2 31.9 30 12 U.S. 11.6 19.6 4.6 0.2 13.3 22 20 Foreign 10.5 17.8 6.2 0.4 26.8 27 15 Domestic Use World 1.1 1.8 8.2 0.0 36.2 22 20 U.S. 2.9 4.8 3.9 0.1 18.8 20 22 Foreign 1.3 2.2 8.3 0.1 36.2 27 15 Ending Stocks World 10.5 17.7 14.1 0.6 136.0 35 7 U.S. 15.4 25.9 5.7 0.0 24.3 21 20 Foreign 13.5 22.7 12.6 0.1 143.4 35 7 RICE, milled Production World 1.6 2.7 5.0 0.0 13.9 35 6 U.S. 1.6 2.6 0.1 0.0 0.3 13 7 Foreign 1.6 2.8 5.0 0.1 13.9 36 6 Exports World 8.9 15.0 1.9 0.0 6.6 31 11 U.S. 7.5 12.7 0.2 0.0 0.6 20 19 Foreign 9.9 16.6 1.8 0.0 6.3 30 12 Domestic Use World 1.3 2.2 3.5 0.0 13.9 30 12 U.S. 7.5 12.6 0.2 0.0 0.5 18 24 Foreign 1.3 2.3 3.4 0.0 13.6 31 11 Ending Stocks World 9.1 15.3 5.2 0.5 26.6 35 7 U.S. 19.8 33.3 0.2 0.0 0.6 22 17 Foreign 9.3 15.7 5.2 0.2 26.5 35 7 ================================================================================ WASDE - 656 - 36 January 2025 Reliability of January Projections (Continued) 1/ ================================================================================ Differences between forecast and final estimate 90 percent Years Commodity and Root mean Confidence Below Above Region square error interval Average Smallest Largest Final Final ================================================================================ Million Metric Tons SOYBEANS Production World 3.4 5.7 5.5 0.0 22.4 22 20 U.S. 1.3 2.3 0.7 0.0 2.5 18 19 Foreign 5.7 9.5 5.6 0.2 22.6 22 20 Exports World 6.8 11.4 3.7 0.1 16.7 27 15 U.S. 7.7 13.0 1.8 0.1 6.7 25 17 Foreign 16.9 28.4 3.7 0.0 19.7 21 21 Domestic Use World 2.6 4.4 4.1 0.1 15.3 22 20 U.S. 3.2 5.4 1.2 0.0 3.6 25 17 Foreign 3.2 5.4 3.7 0.2 13.8 23 19 Ending Stocks World 14.0 23.6 4.2 0.1 18.7 22 20 U.S. 41.0 69.0 1.9 0.1 6.6 12 30 Foreign 16.0 26.9 4.0 0.1 17.2 27 15 COTTON Production World 2.5 4.3 1.9 0.0 5.4 26 15 U.S. 1.2 1.9 0.1 0.0 0.4 14 27 Foreign 3.1 5.2 1.9 0.0 5.7 29 12 Exports World 6.8 11.4 1.9 0.1 8.8 23 19 U.S. 10.7 18.0 0.8 0.0 2.7 26 16 Foreign 8.8 14.8 1.5 0.0 8.1 24 18 Domestic Use World 3.9 6.5 2.5 0.1 18.2 23 19 U.S. 8.1 13.6 0.2 0.0 0.9 20 19 Foreign 3.9 6.5 2.5 0.2 17.3 24 18 Ending Stocks World 10.3 17.3 4.4 0.1 20.0 25 17 U.S. 24.9 42.0 0.9 0.1 2.4 14 28 Foreign 10.9 18.3 4.2 0.1 18.2 27 15 ================================================================================ WASDE - 656 - 37 January 2025 Reliability of United States January Projections 1/ ================================================================================ Differences between forecast and final estimate 90 percent Years Commodity and Root mean Confidence Below Above Region square error interval Average Smallest Largest Final Final ================================================================================ Million Bushels CORN Production 0.4 0.7 14 0 148 4 7 Exports 12.2 20.6 167 3 513 21 21 Domestic Use 2.8 4.8 140 6 574 21 21 Ending Stocks 17.1 28.8 225 1 986 22 20 SORGHUM Production 1.0 1.6 2 0 53 1 3 Exports 16.6 28.0 28 0 97 27 13 Domestic Use 18.6 31.3 34 1 148 19 23 Ending Stocks 44.2 74.4 22 1 98 15 27 BARLEY Production 0.9 1.6 1 0 11 21 4 Exports 34.5 58.1 7 0 37 15 24 Domestic Use 7.4 12.5 15 0 70 17 22 Ending Stocks 13.5 22.7 11 1 52 25 17 OATS Production 0.4 0.7 0 0 2 5 4 Exports 62.4 105.2 1 0 7 10 10 Domestic Use 5.1 8.6 11 0 39 17 24 Ending Stocks 16.9 28.5 11 1 47 25 17 Thousand Short Tons SOYBEAN MEAL Production 3.2 5.3 906 9 3117 26 16 Exports 9.9 16.7 677 1 2626 30 12 Domestic Use 2.8 4.7 676 34 2066 21 21 Ending Stocks 33.3 56.1 65 0 253 17 23 Million Pounds SOYBEAN OIL Production 3.1 5.2 415 7 1418 29 13 Exports 31.3 52.8 338 0 1325 24 16 Domestic Use 3.4 5.7 430 25 1628 27 15 Ending Stocks 20.0 33.6 288 25 1206 27 15 ANIMAL PROD. 3/ Million Pounds Beef 3.4 5.7 721 9 2111 28 13 Pork 3.0 5.0 406 5 1717 19 22 Broilers 1.7 2.8 392 24 1011 25 16 Turkeys 3.2 5.5 136 2 427 18 23 Million Dozen Eggs 2.1 3.5 122 4 525 23 18 Billion Pounds Milk 1.4 2.4 1.8 0.0 5.7 20 20 ================================================================================