ISSN:1554-9089 WASDE-455 February 8, 2008 WHEAT: Projected U.S. wheat ending stocks for 2007/08 are lowered 20 million bushels this month as a reduction in feed and residual use is more than offset by higher projected exports. At 272 million bushels, this year's ending stocks are the lowest since 1947/48. Ending stocks as a percentage of use (stocks-to-use) at 12 percent would be the lowest since 1946/47. Feed and residual use is projected 5 million bushels lower as high prices and tight supplies reduce the expected residual. Exports are raised 25 million bushels with hard red spring wheat increased 20 million and soft red winter wheat increased 5 million. The season-average farm price projection is unchanged at $6.45 to $6.85 per bushel, well above the record of $4.55 per bushel in 1995/96. Global 2007/08 wheat production is raised 0.6 million tons this month with increases for Argentina and FSU-12 more than offsetting a reduction for Afghanistan. Production for Argentina is raised 0.5 million tons based on higher harvested area. FSU- 12 output is raised 0.9 million tons with increases for Belarus, Kazakhstan, and Ukraine, all based on post-harvest revisions to yields. Production is lowered 0.6 million tons for Afghanistan. World imports, exports, and consumption are all raised this month. Imports are raised 0.5 million tons for Afghanistan on indications of higher flour imports from neighboring countries. Imports are raised 0.2 million tons for Libya based on strong demand to date. Exports are raised 0.5 million tons each for Kazakhstan and Russia. Higher expected shipments from Kazakhstan reflect higher production and the strong pace of sales to date. Higher exports from Russia reflect increased export opportunities for flour. World wheat feeding is raised 0.9 million tons with higher feeding in Canada and FSU-12 more than offsetting a reduction for EU-27. Wheat feeding for Canada is raised 1.0 million tons as indicated by recent stocks estimates by Statistics Canada. Wheat feeding for EU-27 is lowered 0.2 million tons, but the decline is partly offset by higher expected sorghum imports and feeding. Global ending stocks for 2007/08 are lowered 1.2 million tons. At 109.7 million tons, stocks are projected to reach their lowest level in 30 years. Lower ending stocks in Canada, FSU-12, and the United States are only partly offset by higher stocks in Australia. Ending stocks are raised 0.7 million tons for Australia based on higher production and carryout from 2006/07. Australia production for 2006/07 is raised to 10.6 million tons from 9.9 million based on the latest estimates by the Australian Bureau of Statistics. COARSE GRAINS: U.S. feed grains supply, use, and ending stocks projections for 2007/08 are all unchanged this month. The projected season- average farm price range for corn is narrowed 5 cents on each end to $3.75 to $4.25 per bushel. Projected price ranges for sorghum, barley, and oats are also narrowed. Farm prices for the four feed grains are all projected at record levels. World coarse grain supplies for 2007/08 are projected slightly higher this month as lower corn production is more than offset by higher sorghum, oats, and rye production. Corn production is lowered 1.0 million tons for Argentina as extended dryness during the first weeks of January reduced yield prospects. Corn production for Mexico is lowered 0.7 million tons based on lower harvested area. South Africa corn output is raised 1.0 million tons as nearly ideal planting and early growing season weather have supported crop development. Sorghum production is raised for Mexico on higher area. Sorghum production is increased for Australia on higher expected yields as rains over the past several weeks have dramatically improved growing conditions for summer crops there. Oats and rye production are raised for Russia based on the latest government statistics. A number of small changes to individual country production estimates leave global barley output virtually unchanged this month. Global coarse grains imports and exports for 2007/08 are nearly unchanged with ending stocks rising slightly on higher production. Corn exports are lowered 1.0 million tons for Argentina, but raised 0.7 million tons for South Africa with both changes driven by updated production prospects. Barley exports are raised 0.2 million tons for Kazakhstan in line with higher production. Oats exports for Canada are raised 0.2 million tons based on the strong pace of shipments to date. Sorghum imports are lowered for Mexico, but raised for EU-27. Global coarse grain feeding is projected 0.6 million tons lower. Corn feeding is lowered for Mexico. Sorghum feeding is lowered for Mexico, but raised for EU-27 and Australia. Global ending stocks for 2007/08 are projected 0.4 million tons higher. RICE: No changes are made on the supply side of the U.S. 2007/08 rice supply and use balance. However, all rice exports for 2007/08 are raised 2 million cwt to 111 million cwt. Rough and combined milled-and-brown exports (on a rough- equivalent basis) are each raised 1 million cwt from a month ago. Long-grain and combined medium- and short-grain exports are each raised 1 million cwt to 86 million and 25 million cwt, respectively. No change is made to 2007/08 domestic and residual use. All rice ending stocks are projected at 22.6 million cwt, 2 million cwt below last month. The season-average farm price is projected at $11.30 to $11.60 per cwt, up 40 cents per cwt on the low end of the range and increased 20 cents per cwt on the high end from a month ago. Tight domestic supplies, higher global prices, and upward revisions in the monthly farm prices for 2007/08, released by the National Agricultural Statistics Service (NASS) in the January 2008 Agricultural Prices report, contributed to the increase. Global 2007/08 rice production, consumption, and trade are increased slightly from last month while ending stocks are lowered. The slight increase in global production is due to a number of small upward adjustments including EU-27 and Panama, which are partially offset by slight reductions for Cuba and Egypt. World exports are increased slightly for the United States, Burma, and India; and reduced for Egypt. Global ending stocks are lowered slightly owing to a number of small decreases for the United States, Australia, Burma, China, India, and Ghana. World rice ending stocks for 2007/08 are projected at 72.1 million tons, down about 0.5 million tons from last month, down 3.1 million tons from 2006/07, and the lowest stocks since 1983/84. OILSEEDS: Projected U.S. soybean ending stocks for 2007/08 are reduced 15 million bushels to 160 million this month, down 72 percent from last year's record, and the lowest since 2003/04. Soybean exports are raised 10 million bushels to 1,005 million reflecting stronger-than-expected shipments and sales through January. Soybean crush is raised 5 million bushels to 1,835 million reflecting relatively good crush margins and an increase in projected soybean meal exports. Soybean oil production is increased due to an increase in the oil extraction rate and higher crush. Domestic soybean oil use is reduced mainly due to lower projected use for biodiesel. High soybean oil prices have reduced biodiesel production prospects despite relatively strong foreign demand. The soybean oil export projection is raised reflecting strong sales, especially to China and North Africa. Soybean oil stocks are also projected higher. The U.S. season-average soybean price range is projected at $10.00 to $10.80 per bushel and is narrowed 10 cents on each end. The soybean meal price is projected at $305 to $335 per short ton, unchanged from last month. Soybean oil prices continue to strengthen. The soybean oil price is projected at 47.5 to 51.5 cents per pound, up 2 cents on both ends of the range. Global oilseed production for 2007/08 is projected at 390.3 million tons, up 0.6 million tons from last month. Higher rapeseed, sunflowerseed, and cottonseed production more than offset reduced soybean production. Global soybean production is reduced 0.3 million tons to 220.1 million tons. Bolivia's soybean crop is reduced 0.3 million tons reflecting excessive rains and flooding that have reduced projected harvested area and yields. Global rapeseed production is raised 0.2 million tons to 48.5 million due to larger projected crops for EU-27 and India. While harvested area is projected higher for both, the area increase for India is partly offset by lower yields. Global sunflowerseed production is projected higher due to increases for Argentina and Ukraine. Other changes include higher cottonseed production for China and Pakistan, and lower cottonseed production for India. Malaysia palm oil production is projected at a record 17 million tons, up 0.4 million tons from last month. SUGAR: Projected 2007/08 U.S. sugar supply is decreased 27,000 short tons, raw value, from last month, due to lower production. Production is based on processors' projections compiled by the Farm Service Agency. Demand is lowered 50,000 tons, mainly due to weaker-than-expected first quarter deliveries for domestic food use. LIVESTOCK, POULTRY, AND DAIRY: The forecast for total 2008 U.S. meat production is raised reflecting higher production forecasts for all major specie meats. Beef production is raised for 2008 due to stronger-than-expected cow slaughter. However, steer and heifer slaughter is forecast lower as the December 1 Cattle inventory report points to fractionally tighter supplies of cattle outside feedlots. Weights are reduced slightly due to higher cow slaughter and expectations that feedlot operators will move cattle through as quickly as possible. Hog slaughter is forecast higher reflecting the current levels of slaughter and expectations of larger imports of live hogs from Canada. Poultry production forecasts are raised. Both broiler and turkey meat production in December were higher than expected. Current hatchery data point to continued expansion in 2008. Red meat and poultry production for 2007 is adjusted to reflect USDA estimates of December production. Egg production is reduced slightly for early 2008 as the industry has not responded as rapidly as expected to egg price increases. Historical beef and pork trade estimates are adjusted to reflect revisions by USDA's Economic Research Service. See http://www.ers.usda.gov/data/meattrade/ for further details. Beef and pork import estimates for the last quarter of 2007 and forecasts for 2008 are lowered reflecting the slow pace of imports in November as a weak U.S. currency partly reduces incentives to ship products to the United States. In addition, imports are also lowered as relatively high domestic cow slaughter and increased imports of slaughter hogs from Canada weigh on imports. Beef export estimates for the last quarter of 2007 and the forecast for 2008 are lowered due to slower-than-expected exports. Pork export forecasts for 2008 are unchanged. Broiler export forecasts are raised as sales are expected to remain strong. Forecasts for 2008 cattle prices are reduced slightly in the first half of 2008 to reflect recent weaker prices. Hog price forecasts for 2008 are reduced on expanded supplies of hogs. The broiler price forecast for 2008 is higher as prices are expected to strengthen through much of 2008. Forecast egg prices are increased through the first half of the year on strong demand and slow production response to record high prices. Forecasts for 2008 milk production are raised as continued growth in cow numbers is expected to more than offset slower growth in output per cow. Producers continue to respond to the strong returns of 2007. USDA's Cattle report indicated that on January 1 dairy cow numbers were 1 percent higher, and producers expect to retain 3 percent more heifers. Heifers expected to calve in 2008 were reported up 3 percent. Higher production and softer demand is expected to pressure prices and in the face of higher feed prices, herd growth is expected to slow in the latter part of 2008. Stocks on both a fats and skim solids basis are forecast higher as production gains outpace increases in demand. Both Class III and Class IV price forecasts for 2008 are reduced from last month as a result of lower price forecasts for major dairy products. Weakening international prices, larger milk production, and higher stocks are expected to pressure dairy product prices, particularly nonfat dry milk and whey. Butter prices are also reduced from last month as stocks have increased. Cheese prices are reduced slightly reflecting recent price declines. The all milk price forecast for 2008 is reduced to $16.85 to $17.55 per cwt. The 2007 all milk price estimate is revised to $19.13 per cwt. COTTON: This month's 2007/08 U.S. cotton estimates include lower exports and higher ending stocks. Production and domestic mill use are unchanged. Exports are reduced 300,000 bales, due mainly to the slow pace of export shipments and a reduced import forecast for China. Accordingly, ending stocks are raised to 8.2 million bales. The world cotton 2007/08 estimates include higher production, lower consumption and an increase in ending stocks of nearly 5 percent relative to last month. World production is raised about 1.0 million bales, as increases for China, Pakistan, and Brazil are partially offset by decreases for India and others. World consumption is reduced 1.3 percent from last month, as slowing world economic growth is reflected in lower mill use for China, India, Thailand, and Turkey. China's consumption is reduced 1.0 million bales, as anecdotal reports of credit problems and rising yarn inventories were corroborated by slower growth seen in China's December textile exports; however, China's consumption is still forecast to rise 8 percent from 2006/07. Lower forecast world consumption results in lower world imports, including a 500,000-bale reduction in the import forecast for China. With lower demand, exports are reduced in several countries, including Australia, Brazil, India, and the United States. China accounts for over half of the 2.6-million-bale increase in world stocks. Approved by the Acting Secretary of Agriculture and the World Agricultural Outlook Board, Gerald A. Bange, Chairperson, (202) 720-6030. This report was prepared by the Interagency Commodity Estimates Committees. APPROVED BY: CHARLES F. CONNER ACTING SECRETARY OF AGRICULTURE INTERAGENCY COMMODITY ESTIMATES COMMITTEES Note: The World Agricultural Outlook Board reviews and approves the World Agricultural Supply and Demand Estimates (WASDE) report. The Board's analysts chair the Interagency Commodity Estimates Committees (ICECs) that prepare the monthly report. Wheat: Jerry Norton, ICEC Chair, WAOB, E- mail: jnorton@oce.usda.gov Gary Vocke, ERS; Joshua Lagos, FAS; Dennis Shields, FSA. Rice: Andrew C. Aaronson, ICEC Chair, WAOB, E-mail: aaaronson@oce.usda.gov Nathan Childs, ERS; Robert Miller, FAS; William Chambers, FSA. Feed Grains: Jerry Norton, ICEC Chair, WAOB, E-mail: jnorton@oce.usda.gov Allen Baker, ERS; Richard O'Meara, FAS; Pete Riley, FSA. Oilseeds: Keith Menzie, ICEC Chair, WAOB, E- mail: kmenzie@oce.usda.gov Mark Ash, ERS; Bill George, FAS; Max Fisher, FSA. Cotton: Carol Skelly, ICEC Chair, WAOB, E- mail: cskelly@oce.usda.gov Darryl Earnest, AMS; Leslie Meyer, ERS; James Johnson, FAS; Steven Neff, FSA. Sugar: John Love, ICEC Chair, WAOB, E-mail: jlove@oce.usda.gov Stephen Haley, ERS; Ron Lord, FAS; Barbara Fecso, FSA. Meat Animals: Shayle Shagam, ICEC Chair, WAOB, E-mail: sshagam@oce.usda.gov Warren Preston, AMS; Mildred M. Haley, ERS; Claire Mezoughem, FAS; Dale Leuck, FSA. Poultry: Shayle Shagam, ICEC Chair, WAOB, E-mail: sshagam@oce.usda.gov Marc Warman, AMS; David Harvey, ERS; Michelle DeGraaf, FAS; Milton Madison, FSA. Dairy: Shayle Shagam, ICEC Chair, WAOB, E- mail: sshagam@oce.usda.gov Jerry Cessna, AMS; Roger Hoskin, ERS; Paul Kiendl, FAS; Milton Madison, FSA. In 2008, the WASDE report will be released on Mar. 11, Apr. 9, May 9, June 10, July 11, Aug. 12, Sep. 12, Oct. 10, Nov. 10, Dec. 11 T A B L E OF C O N T E N T S Page Highlights . . . . . . . . . . . . . . . . . . . . . . . . . .1 Interagency Commodity Estimates Committees . . . . . . . . . .6 World & U.S. Supply & Use for Grains . . . . . . . . . . . . .8 World & U.S. Supply & Use for Cotton . . . . . . . . . . . . .9 World & U.S. Supply & Use for Oilseeds . . . . . . . . . . . 10 U.S. Wheat Supply & Use. . . . . . . . . . . . . . . . . . . 11 U.S. Wheat Supply & Use by Class . . . . . . . . . . . . . . 11 U.S. Feed Grain & Corn Supply & Use. . . . . . . . . . . . . 12 U.S. Sorghum, Barley, & Oats Supply & Use. . . . . . . . . . 13 U.S. Rice Supply & Use . . . . . . . . . . . . . . . . . . . 14 U.S. Soybeans & Products Supply & Use. . . . . . . . . . . . 15 U.S. Sugar Supply & Use. . . . . . . . . . . . . . . . . . . 16 U.S. Cotton Supply & Use . . . . . . . . . . . . . . . . . . 17 World Wheat Supply & Use . . . . . . . . . . . . . . . . . . 18 World Coarse Grains Supply & Use . . . . . . . . . . . . . . 20 World Corn Supply & Use. . . . . . . . . . . . . . . . . . . 22 World Rice Supply & Use. . . . . . . . . . . . . . . . . . . 24 World Cotton Supply & Use . . . . . . . . . . . . . . . . . 26 World Soybean Supply & Use . . . . . . . . . . . . . . . . . 28 World Soybean Meal Supply & Use. . . . . . . . . . . . . . . 29 World Soybean Oil Supply & Use . . . . . . . . . . . . . . . 30 U.S. Quarterly Animal Product Production . . . . . . . . . . 31 U.S. Quarterly Prices for Animal Products. . . . . . . . . . 31 U.S. Meats Supply and Use. . . . . . . . . . . . . . . . . . 32 U.S. Egg Supply & Use. . . . . . . . . . . . . . . . . . . . 33 U.S. Milk Supply and Use . . . . . . . . . . . . . . . . . . 33 U.S. Dairy Prices. . . . . . . . . . . . . . . . . . . . . . 34 Reliability Tables . . . . . . . . . . . . . . . . . . . . . 35 Related USDA Reports . . . . . . . . . . . . . . . . . . . . 38 Metric Conversion Factors. . . . . . . . . . . . . . . . . . 38 Electronic Access and Subscriptions. . . . . . . . . . . . . 40 WASDE-455-8 World and U.S. Supply and Use for Grains 1/ Million Metric Tons =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : World Total grains 3/ : 2005/06 : 2,016.44 2,420.10 253.43 2,031.40 388.70 2006/07 (Est.) : 1,992.67 2,381.37 255.64 2,044.64 336.73 2007/08 (Proj.) : January : 2,075.21 2,411.63 253.32 2,102.54 309.09 February : 2,076.13 2,412.86 255.26 2,105.12 307.74 Wheat : 2005/06 : 621.46 772.08 116.16 624.43 147.65 2006/07 (Est.) : 593.20 740.85 110.69 615.77 125.08 2007/08 (Proj.) : January : 603.00 727.38 104.68 616.45 110.93 February : 603.59 728.67 106.40 618.97 109.70 Coarse grains 4/ : 2005/06 : 977.34 1,155.90 107.12 991.50 164.40 2006/07 (Est.) : 981.81 1,146.21 115.48 1,009.69 136.52 2007/08 (Proj.) : January : 1,051.58 1,188.07 119.38 1,062.45 125.62 February : 1,051.91 1,188.43 119.50 1,062.46 125.97 Rice, milled : 2005/06 : 417.64 492.12 30.16 415.47 76.65 2006/07 (Est.) : 417.66 494.31 29.47 419.18 75.13 2007/08 (Proj.) : January : 420.62 496.18 29.26 423.65 72.54 February : 420.63 495.77 29.36 423.70 72.07 : : United States Total grains 3/ : 2005/06 : 363.16 442.68 90.72 280.27 71.68 2006/07 (Est.) : 335.67 413.87 86.12 277.90 49.85 2007/08 (Proj.) : January : 413.62 469.45 106.06 315.30 48.09 February : 413.62 469.45 106.80 315.17 47.48 Wheat : 2005/06 : 57.28 74.19 27.29 31.36 15.55 2006/07 (Est.) : 49.32 68.18 24.73 31.04 12.41 2007/08 (Proj.) : January : 56.25 71.11 31.98 31.19 7.94 February : 56.25 71.11 32.66 31.05 7.40 Coarse grains 4/ : 2005/06 : 298.76 359.61 59.77 245.07 54.77 2006/07 (Est.) : 280.11 337.43 58.45 242.81 36.17 2007/08 (Proj.) : January : 351.06 390.07 70.59 280.13 39.36 February : 351.06 390.08 70.59 280.13 39.36 Rice, milled : 2005/06 : 7.11 8.87 3.66 3.84 1.37 2006/07 (Est.) : 6.24 8.26 2.94 4.05 1.27 2007/08 (Proj.) : January : 6.31 8.26 3.49 3.99 0.79 February : 6.31 8.26 3.55 3.99 0.72 =============================================================================== 1/ Aggregate of local marketing years. 2/ Based on export estimate. See individual commodity tables for treatment of export/import imbalances. 3/ Wheat, coarse grains and milled rice. 4/ Corn, sorghum, barley, oats, rye, millet and mixed grains (for U.S. excludes millet and mixed grains). WASDE-455-9 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/ : 2005/06 : 1,653.28 1,977.42 162.71 1,751.13 317.02 2006/07 (Est.) : 1,657.00 1,967.50 169.52 1,766.74 286.87 2007/08 (Proj.) : January : 1,661.58 1,942.19 147.26 1,787.24 261.00 February : 1,662.51 1,943.41 148.46 1,789.96 260.26 Wheat : 2005/06 : 564.18 697.88 88.87 593.07 132.10 2006/07 (Est.) : 543.88 672.67 85.96 584.73 112.66 2007/08 (Proj.) : January : 546.76 656.27 72.71 585.26 102.99 February : 547.35 657.56 73.74 587.91 102.31 Coarse grains 5/ : 2005/06 : 678.57 796.29 47.34 746.43 109.64 2006/07 (Est.) : 701.70 808.78 57.03 766.88 100.35 2007/08 (Proj.) : January : 700.52 797.99 48.79 782.32 86.26 February : 700.84 798.35 48.91 782.33 86.61 Rice, milled : 2005/06 : 410.53 483.25 26.50 411.63 75.28 2006/07 (Est.) : 411.42 486.05 26.53 415.12 73.87 2007/08 (Proj.) : January : 414.30 487.92 25.77 419.66 71.75 February : 414.32 487.50 25.81 419.71 71.34 =============================================================================== 1/ Aggregate of local marketing years. 2/ Based on export estimate. See individual commodity tables for treatment of export/import imbalances. 3/ Total foreign is equal to world minus United States. 4/ Wheat, coarse grains and milled rice. 5/ Corn, sorghum, barley, oats, rye, millet and mixed grains. World and U.S. Supply and Use for Cotton 1/ Million 480-lb. bales =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : World 2005/06 : 117.69 175.04 44.53 116.31 60.18 2006/07 (Est.) : 122.07 182.25 37.40 123.58 60.71 2007/08 (Proj.) : January : 118.25 179.02 40.88 128.02 54.75 February : 119.21 179.92 40.05 126.32 57.33 : United States 2005/06 : 23.89 29.41 17.55 5.87 6.05 2006/07 (Est.) : 21.59 27.66 13.01 4.95 9.48 2007/08 (Proj.) : January : 19.03 28.53 16.00 4.60 7.90 February : 19.03 28.53 15.70 4.60 8.20 : Foreign 3/ 2005/06 : 93.80 145.63 26.98 110.44 54.13 2006/07 (Est.) : 100.48 154.59 24.39 118.64 51.24 2007/08 (Proj.) : January : 99.22 150.49 24.88 123.42 46.85 February : 100.18 151.39 24.35 121.72 49.13 =============================================================================== 1/ Marketing year beginning August 1. 2/ Based on export estimate. 3/ Total Foreign is equal to world minus United States. See global cotton tables for treatment of export/import imbalances. WASDE-455-10 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 : 2005/06 : 391.71 448.57 76.09 318.54 64.09 2006/07 (Est.) : 406.26 470.35 82.94 331.20 70.96 2007/08 (Proj.) : January : 389.74 460.50 87.85 340.90 53.24 February : 390.31 461.27 87.78 340.83 53.33 Oilmeals : 2005/06 : 215.83 223.92 65.62 214.96 7.47 2006/07 (Est.) : 225.28 232.75 68.36 222.45 6.96 2007/08 (Proj.) : January : 233.90 240.81 72.09 231.10 6.79 February : 233.98 240.94 72.51 231.17 6.78 Vegetable Oils : 2005/06 : 118.24 128.47 46.98 115.15 10.28 2006/07 (Est.) : 122.22 132.49 48.92 121.11 9.20 2007/08 (Proj.) : January : 127.46 136.20 50.16 126.53 8.11 February : 127.87 137.07 50.54 127.32 8.59 : : United States Oilseeds : 2005/06 : 95.53 104.49 26.61 51.90 14.20 2006/07 (Est.) : 96.61 111.84 31.68 53.45 17.02 2007/08 (Proj.) : January : 80.01 97.90 28.07 54.14 5.92 February : 80.01 97.93 28.44 54.29 5.51 Oilmeals : 2005/06 : 39.95 41.82 7.61 33.85 0.36 2006/07 (Est.) : 41.53 43.59 8.25 34.96 0.39 2007/08 (Proj.) : January : 41.90 44.09 7.88 35.88 0.33 February : 42.18 44.37 8.17 35.87 0.33 Vegetable Oils : 2005/06 : 10.39 13.87 0.90 11.17 1.80 2006/07 (Est.) : 10.44 14.76 1.32 11.78 1.66 2007/08 (Proj.) : January : 10.60 14.86 1.15 12.42 1.29 February : 10.68 15.05 1.31 12.33 1.41 : : Foreign 3/ Oilseeds : 2005/06 : 296.18 344.09 49.48 266.65 49.89 2006/07 (Est.) : 309.65 358.51 51.26 277.75 53.94 2007/08 (Proj.) : January : 309.73 362.59 59.78 286.76 47.32 February : 310.30 363.34 59.34 286.54 47.82 Oilmeals : 2005/06 : 175.88 182.10 58.01 181.11 7.11 2006/07 (Est.) : 183.75 189.15 60.12 187.49 6.57 2007/08 (Proj.) : January : 192.00 196.72 64.22 195.21 6.46 February : 191.80 196.57 64.34 195.30 6.45 Vegetable Oils : 2005/06 : 107.85 114.60 46.08 103.98 8.48 2006/07 (Est.) : 111.78 117.74 47.60 109.32 7.55 2007/08 (Proj.) : January : 116.86 121.34 49.00 114.10 6.82 February : 117.19 122.02 49.24 114.98 7.18 =============================================================================== 1/ Aggregate of local marketing years with Brazil and Argentina on an Oct.-Sept. year. 2/ Crush only for oilseeds. 3/ Total foreign is equal to world minus United States. WASDE-455-11 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : January February =============================================================================== Area : Million acres Planted : 57.2 57.3 60.4 60.4 Harvested : 50.1 46.8 51.0 51.0 Yield per harvested : Bushels acre : 42.0 38.7 40.5 40.5 : Million bushels Beginning stocks : 540 571 456 456 Production : 2,105 1,812 2,067 2,067 Imports : 81 122 90 90 Supply, total : 2,726 2,505 2,613 2,613 Food : 915 933 945 945 Seed : 78 81 86 86 Feed and residual : 160 125 115 110 Domestic, total : 1,152 1,140 1,146 1,141 Exports : 1,003 909 1,175 1,200 Use, total : 2,155 2,049 2,321 2,341 Ending stocks : 571 456 292 272 CCC inventory : 43 41 35 35 Free stocks : 528 415 257 237 Outstanding loans : 42 14 5 5 Avg. farm price ($/bu) 2/ : 3.42 4.26 6.45- 6.85 6.45- 6.85 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 2006/07 (estimated) : Million bushels Beginning stocks : 215 132 106 78 40 571 Production : 682 432 390 254 53 1,812 Supply, total 3/ : 898 614 516 342 135 2,505 Domestic use : 452 247 261 101 79 1,140 Exports : 281 250 146 197 35 909 Use, total : 733 497 407 298 114 2,049 Ending stocks, total : 165 117 109 44 22 456 : 2007/08 (projected) : Beginning stocks : 165 117 109 44 22 456 Production : 962 449 358 227 72 2,067 Supply, total 3/ : 1,127 603 477 278 128 2,613 Domestic use : 496 235 245 91 74 1,141 Exports : 510 295 200 160 35 1,200 Use, total : 1,006 530 445 251 109 2,341 Ending stocks, total : February : 121 73 32 27 19 272 January : 121 88 37 27 19 292 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning June 1. 2/ Marketing-year weighted average price received by farmers. 3/ Includes imports. WASDE-455-12 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : January February =============================================================================== FEED GRAINS : Area : Million acres Planted : 96.4 92.5 109.1 109.1 Harvested : 85.9 80.1 98.4 98.4 Yield per harvested : Metric tons acre : 3.47 3.50 3.57 3.57 : Million metric tons Beginning stocks : 58.8 54.7 36.2 36.2 Production : 298.6 279.9 350.9 350.9 Imports : 1.9 2.4 2.7 2.7 Supply, total : 359.3 337.1 389.7 389.7 Feed and residual : 163.2 148.3 159.0 159.0 Food, seed & industrial : 81.5 94.2 120.8 120.8 Domestic, total : 244.7 242.5 279.8 279.8 Exports : 59.8 58.4 70.6 70.6 Use, total : 304.5 300.9 350.4 350.4 Ending stocks, total : 54.7 36.2 39.3 39.3 CCC inventory : 0.0 0.0 0.0 0.0 Free stocks : 54.7 36.2 39.3 39.3 Outstanding loans : 4.4 3.0 5.9 5.9 : CORN : Area : Million acres Planted : 81.8 78.3 93.6 93.6 Harvested : 75.1 70.6 86.5 86.5 Yield per harvested : Bushels acre : 148.0 149.1 151.1 151.1 : Million bushels Beginning stocks : 2,114 1,967 1,304 1,304 Production : 11,114 10,535 13,074 13,074 Imports : 9 12 15 15 Supply, total : 13,237 12,514 14,393 14,393 Feed and residual : 6,155 5,598 5,950 5,950 Food, seed & industrial : 2,981 3,488 4,555 4,555 Ethanol for fuel 2/ : 1,603 2,117 3,200 3,200 Domestic, total : 9,136 9,086 10,505 10,505 Exports : 2,134 2,125 2,450 2,450 Use, total : 11,270 11,210 12,955 12,955 Ending stocks, total : 1,967 1,304 1,438 1,438 CCC inventory : 0 0 0 0 Free stocks : 1,967 1,304 1,438 1,438 Outstanding loans : 171 116 230 230 Avg. farm price ($/bu) 3/ : 2.00 3.04 3.70- 4.30 3.75- 4.25 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a further breakout of FSI corn uses including ethanol, see the Feed Outlook table 5 or access the data on the Web through the Feed Grain Data Delivery System (http://www.ers.usda.gov/db/feedgrains/). 3/ Marketing-year weighted average price received by farmers. WASDE-455-13 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : January February =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 6.5 6.5 7.7 7.7 Area harv. (mil. acres) : 5.7 4.9 6.8 6.8 Yield (bushels/acre) : 68.5 56.2 74.2 74.2 Beginning stocks : 57 66 32 32 Production : 393 278 505 505 Imports : 0 0 0 0 Supply, total : 450 343 537 537 Feed and residual : 140 109 175 175 Food, seed & industrial : 50 45 35 35 Total domestic : 190 154 210 210 Exports : 194 157 285 285 Use, total : 384 311 495 495 Ending stocks, total : 66 32 42 42 Avg. farm price ($/bu) 2/ : 1.86 3.29 3.60- 4.20 3.65- 4.15 : BARLEY : Area planted (mil. acres) : 3.9 3.5 4.0 4.0 Area harv. (mil. acres) : 3.3 3.0 3.5 3.5 Yield (bushels/acre) : 64.8 61.1 60.4 60.4 Beginning stocks : 128 108 69 69 Production : 212 180 212 212 Imports : 5 12 20 20 Supply, total : 346 300 301 301 Feed and residual : 52 56 55 55 Food, seed & industrial : 158 156 145 145 Total domestic : 210 211 200 200 Exports : 28 20 50 50 Use, total : 238 231 250 250 Ending stocks, total : 108 69 51 51 Avg. farm price ($/bu) 2/ : 2.53 2.85 3.80- 4.40 3.85- 4.35 : OATS : Area planted (mil. acres) : 4.2 4.2 3.8 3.8 Area harv. (mil. acres) : 1.8 1.6 1.5 1.5 Yield (bushels/acre) : 63.0 59.8 60.9 60.9 Beginning stocks : 58 53 51 51 Production : 115 94 92 92 Imports : 91 106 110 110 Supply, total : 264 252 252 252 Feed and residual : 136 125 130 130 Food, seed & industrial : 74 74 75 75 Total domestic : 209 199 205 205 Exports : 2 3 2 2 Use, total : 211 202 207 207 Ending stocks, total : 53 51 45 45 Avg. farm price ($/bu) 2/ : 1.63 1.87 2.20- 2.80 2.25- 2.75 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for sorghum, June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. WASDE-455-14 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : January February =============================================================================== TOTAL : Area : Million acres Planted : 3.38 2.84 2.76 2.76 Harvested : 3.36 2.82 2.75 2.75 Yield per harvested : Pounds acre : 6,636 6,868 7,185 7,185 : : Million hundredweight : Beginning stocks 2/ : 37.7 43.0 39.3 39.3 Production : 223.2 193.7 197.5 197.5 Imports : 17.1 20.6 21.5 21.5 Supply, total : 278.1 257.3 258.3 258.3 Domestic & residual 3/ : 120.2 126.6 124.7 124.7 Exports, total 4/ : 114.9 91.4 109.0 111.0 Rough : 33.4 32.1 35.0 36.0 Milled (rough equiv.) : 81.4 59.3 74.0 75.0 Use, total : 235.1 218.0 233.7 235.7 Ending stocks : 43.0 39.3 24.6 22.6 Avg. milling yield (%) 5/ : 70.2 71.0 70.5 70.5 Avg. farm price ($/cwt) 6/ : 7.65 9.96 10.90-11.40 11.30-11.60 : LONG GRAIN : Harvested acres (mil.) : 2.73 2.19 2.05 2.05 Yield (pounds/acre) : 6,493 6,689 6,929 6,929 Beginning stocks : 22.7 32.7 28.5 28.5 Production : 177.5 146.2 142.2 142.2 Supply, total 7/ : 212.5 193.1 185.7 185.7 Domestic & Residual 3/ : 87.9 91.9 89.0 89.0 Exports 8/ : 92.0 72.7 85.0 86.0 Use, total : 179.8 164.6 174.0 175.0 Ending stocks : 32.7 28.5 11.7 10.7 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.63 0.64 0.70 0.70 Yield (pounds/acre) : 7,255 7,484 7,942 7,942 Beginning stocks : 13.8 9.4 10.0 10.0 Production : 45.7 47.5 55.3 55.3 Supply, total 7/ : 64.7 63.4 71.8 71.8 Domestic & Residual 3/ : 32.4 34.7 35.7 35.7 Exports 8/ : 22.9 18.7 24.0 25.0 Use, total : 55.2 53.4 59.7 60.7 Ending stocks : 9.4 10.0 12.1 11.1 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning August 1. 2/ Includes the following quantities of broken kernel rice (type undetermined) not included in estimates of beginning stocks by type (in mil. cwt): 2005/06-1.1; 2006/07-0.9; 2007/08-0.8. 3/ Residual includes unreported use, processing losses, and estimating errors. Use by type may not add to total rice use because of the difference in brokens between beginning and ending stocks. 4/ Includes rough rice and milled rice exports. Milled rice exports are converted to an equivalent rough basis. 5/ Expressed as a percent, i.e., the total quantity of whole kernel and broken rice produced divided by the quantity of rough rice milled. 6/ Marketing-year weighted average price received by farmers. 7/ Includes imports. 8/ Exports by type of rice are estimated. WASDE-455-15 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :=============================== : : Est. : January February =============================================================================== SOYBEANS: : Million acres Area : Planted : 72.0 75.5 63.6 63.6 Harvested : 71.3 74.6 62.8 62.8 : : Bushels Yield per harvested : acre : 43.0 42.7 41.2 41.2 : : Million bushels : Beginning stocks : 256 449 574 574 Production : 3,063 3,188 2,585 2,585 Imports : 3 9 6 6 Supply, total : 3,322 3,647 3,165 3,165 Crushings : 1,739 1,806 1,830 1,835 Exports : 940 1,118 995 1,005 Seed : 93 78 86 86 Residual : 101 70 79 79 Use, total : 2,873 3,073 2,990 3,005 Ending stocks : 449 574 175 160 Avg. farm price ($/bu) 2/ : 5.66 6.43 9.90-10.90 10.00 -10.80 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,699 3,010 2,904 2,904 Production : 20,387 20,487 20,860 21,010 Imports : 35 37 37 37 Supply, total : 22,122 23,535 23,802 23,952 Domestic : 17,959 18,743 19,900 19,500 For methyl ester : 1,555 2,796 3,800 3,400 Exports : 1,153 1,888 1,650 1,950 Use, total : 19,112 20,630 21,550 21,450 Ending stocks : 3,010 2,904 2,252 2,502 Average price (c/lb) 2/ : 23.41 31.02 45.50- 47.50- : 49.50 51.50 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 172 314 351 351 Production : 41,244 43,027 43,484 43,784 Imports : 141 156 165 165 Supply, total : 41,557 43,497 44,000 44,300 Domestic : 33,195 34,360 35,300 35,300 Exports : 8,048 8,786 8,400 8,700 Use, total : 41,243 43,146 43,700 44,000 Ending stocks : 314 351 300 300 Average price ($/s.t.) 2/ : 174.17 205.44 305.00- 305.00- : 335.00 335.00 =============================================================================== Note: Reliability calculations at end of report. 1/ Marketing year beginning September 1 for soybeans; October 1 for soybean oil and meal. 2/ Prices: Soybeans, marketing year weighted average price received by farmers; for Oil, simple average of crude soybean oil, Decatur; for Meal, simple average of 48 percent, Decatur. WASDE-455-16 U.S. Sugar Supply and Use 1/ ===================================================================== : : : 2007/08 Projection Item : 2005/06 : 2006/07 :==================== : : Est. : January February ===================================================================== : 1,000 short tons, raw value : Beginning stocks : 1,332 1,698 1,799 1,799 Production 2/ : 7,399 8,446 8,516 8,489 Beet sugar : 4,444 5,008 4,819 4,812 Cane sugar : 2,955 3,438 3,697 3,677 Florida : 1,367 1,719 1,771 1,751 Hawaii : 223 222 238 238 Louisiana : 1,190 1,320 1,490 1,490 Texas : 175 177 198 198 Imports : 3,443 2,080 2,241 2,241 TRQ 3/ : 2,588 1,624 1,336 1,336 Other program 4/ : 349 390 425 425 Other 5/ : 506 66 480 480 Mexico : 420 60 475 475 Total supply : 12,174 12,224 12,556 12,529 : Exports : 203 422 250 250 Deliveries : 10,341 10,135 10,300 10,250 Food : 10,184 9,913 10,100 10,050 Other 6/ : 157 222 200 200 Miscellaneous 7/ : -68 -132 0 0 Total use : 10,476 10,425 10,550 10,500 Ending stocks : 1,698 1,799 2,006 2,029 : Stocks to use ratio : 16.2 17.3 19.0 19.3 ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. Historical data are from FSA, "Sweetener Market Data" except imports (U.S. Customs Service, Census Bureau). 2/ Production projections for 2007/08 are processor projections compiled by the Farm Service Agency. 3/ Actual arrivals under the tariff rate quota (TRQ) with late entries, early entries, and TRQ overfills assigned to the fiscal year in which they actually arrived. For 2007/08, includes shortfall of 100,000 tons. 4/ Includes sugar under the re-export and polyhydric alcohol programs. 5/ Does not include Mexico TRQ imports. For 2005/06, other high-tier (30) and other (56). For 2006/07, other high-tier (6) and other (0). For 2007/08, other high-tier (5) and other (0). 6/ Transfers to sugar-containing products for reexport, and for nonedible alcohol and feed. 7/ Includes SMD miscellaneous uses and the difference between SMD imports and WASDE imports. WASDE-455-17 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :=============================== : : Est. : January February =============================================================================== : Million acres Area : Planted : 14.25 15.27 10.83 10.83 Harvested : 13.80 12.73 10.49 10.49 : : Pounds Yield per harvested : acre : 831 814 871 871 : : Million 480 pound bales : Beginning stocks 2/ : 5.50 6.05 9.48 9.48 Production : 23.89 21.59 19.03 19.03 Imports : 0.03 0.02 0.02 0.02 Supply, total : 29.41 27.66 28.53 28.53 Domestic use : 5.87 4.95 4.60 4.60 Exports : 17.55 13.01 16.00 15.70 Use, total : 23.42 17.96 20.60 20.30 Unaccounted 3/ : -0.06 0.22 0.03 0.03 Ending stocks : 6.05 9.48 7.90 8.20 : Avg. farm price 4/ : 47.7 46.5 53.5 5/ =============================================================================== Note: Reliability calculations at end of report. 1/ Upland and extra-long staple; marketing year beginning August 1. Totals may not add due to rounding. 2/ Based on Bureau of Census data. 3/ Reflects the difference between the previous season's supply less total use and ending stocks based on Bureau of Census data. 4/ Cents per pound for upland cotton. 5/ Average price for August-December 2007. USDA is prohibited by law from publishing cotton price projections. =============================================================================== Notes: Public Law 106-78, signed October 22, 1999, requires the Secretary of Agriculture to estimate and report the U.S. upland cotton season-ending stocks-to-use ratio, excluding projected raw cotton imports but including the quantity of raw cotton imports that has been imported during the marketing year. Pursuant to this requirement, the estimated ratio for 2007/08 is 41.7 percent. A table including detail for upland and extra long staple (ELS) cotton will be posted by noon on WASDE report release days at: http://www.usda.gov/oce/commodity/wasde/index.htm WASDE-455-18 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2005/06 : World 3/ : 150.62 621.46 110.15 111.30 624.43 116.16 147.65 United States : 14.70 57.28 2.21 4.35 31.36 27.29 15.55 Total foreign : 135.92 564.18 107.93 106.95 593.07 88.87 132.10 Major exporters 4/ : 42.75 197.78 7.13 70.94 147.24 57.27 43.15 Argentina : 0.55 14.50 0.01 0.08 5.00 9.56 0.50 Australia : 6.78 25.17 0.08 3.70 6.40 16.01 9.62 Canada : 7.92 25.75 0.29 4.18 8.32 16.00 9.64 EU-27 5/ : 27.50 132.36 6.76 62.98 127.53 15.69 23.39 Major importers 6/ : 61.99 162.78 58.77 8.40 218.96 4.42 60.16 Brazil : 1.35 4.87 6.72 0.60 10.80 0.81 1.33 China : 38.82 97.45 1.02 3.50 101.00 1.40 34.89 Select. Mideast 7/ : 5.46 19.77 12.18 1.95 30.02 0.60 6.78 N. Africa 8/ : 10.52 15.18 18.56 0.30 33.51 0.23 10.51 Pakistan : 2.25 21.61 0.95 0.40 21.50 0.05 3.26 Southeast Asia 9/ : 2.05 0.00 10.33 1.23 10.00 0.38 2.00 Selected other : India : 4.10 68.64 0.03 0.30 69.97 0.80 2.00 FSU-12 : 13.46 91.92 5.15 23.31 75.74 21.13 13.67 Russia : 3.89 47.70 1.28 14.90 38.40 10.66 3.81 Kazakhstan : 3.19 11.00 0.04 2.70 7.40 3.82 3.01 Ukraine : 2.61 18.70 0.07 2.90 12.50 6.46 2.41 : : 2006/07 (Estimated) : World 3/ : 147.65 593.20 112.33 105.56 615.77 110.69 125.08 United States : 15.55 49.32 3.32 3.42 31.04 24.73 12.41 Total foreign : 132.10 543.88 109.01 102.14 584.73 85.96 112.66 Major exporters 4/ : 43.15 175.91 5.56 69.31 146.54 52.74 25.34 Argentina : 0.50 15.20 0.01 0.08 4.90 10.50 0.31 Australia : 9.62 10.64 0.09 4.70 7.40 8.73 4.22 Canada : 9.64 25.27 0.32 4.33 8.74 19.64 6.85 EU-27 5/ : 23.39 124.80 5.14 60.20 125.50 13.87 13.96 Major importers 6/ : 60.16 171.14 55.01 7.68 219.53 5.21 61.56 Brazil : 1.33 2.23 7.75 0.20 10.50 0.04 0.78 China : 34.89 104.47 0.38 4.00 101.00 2.78 35.96 Select. Mideast 7/ : 6.78 20.13 10.52 1.55 30.08 0.55 6.79 N. Africa 8/ : 10.51 18.53 16.30 0.25 33.90 0.26 11.18 Pakistan : 3.26 21.70 0.06 0.40 21.90 0.20 2.92 Southeast Asia 9/ : 2.00 0.00 10.65 0.88 9.96 0.42 2.28 Selected other : India : 2.00 69.35 6.71 0.30 73.36 0.20 4.50 FSU-12 : 13.67 85.98 5.93 21.45 73.64 22.35 9.60 Russia : 3.81 44.90 0.86 14.10 36.40 10.79 2.38 Kazakhstan : 3.01 13.50 0.03 2.70 7.50 8.00 1.04 Ukraine : 2.41 14.00 0.08 2.10 11.70 3.37 1.43 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and the EU-27. 5/ Trade excludes intra-trade. 6/ Brazil, China, Japan, Mexico, N. Africa, Pakistan, selected Middle East, and Southeast Asia. 7/ Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and Oman. 8/ Algeria, Egypt, Libya, Morocco, and Tunisia. 9/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-455-19 World Wheat Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2007/08 (Projected) World 3/ : January : 124.38 603.00 103.90 98.49 616.45 104.68 110.93 February : 125.08 603.59 104.73 99.39 618.97 106.40 109.70 United States : January : 12.41 56.25 2.45 3.13 31.19 31.98 7.94 February : 12.41 56.25 2.45 2.99 31.05 32.66 7.40 Total foreign : January : 111.97 546.76 101.46 95.36 585.26 72.71 102.99 February : 112.66 547.35 102.29 96.40 587.91 73.74 102.31 Major exporters 4/ : January : 24.60 167.82 6.85 61.88 139.30 41.00 18.97 February : 25.34 168.09 6.86 62.65 140.56 41.00 18.72 Argentina Jan : 0.31 15.00 0.00 0.08 4.90 10.00 0.41 Feb : 0.31 15.50 0.01 0.08 5.40 10.00 0.41 Australia Jan : 3.48 13.00 0.08 3.40 6.10 8.00 2.46 Feb : 4.22 13.00 0.08 3.40 6.10 8.00 3.20 Canada Jan : 6.85 20.05 0.28 3.50 8.10 14.00 5.07 Feb : 6.85 20.05 0.28 4.50 9.10 14.00 4.07 EU-27 5/ Jan : 13.96 119.77 6.50 54.90 120.20 9.00 11.03 Feb : 13.96 119.54 6.50 54.67 119.97 9.00 11.03 Major importers 6/ : January : 61.56 170.71 53.75 6.95 219.70 5.62 60.71 February : 61.56 170.71 54.00 6.95 219.95 5.65 60.67 Brazil Jan : 0.78 3.40 7.00 0.20 10.50 0.01 0.67 Feb : 0.78 3.40 7.00 0.20 10.50 0.04 0.64 China Jan : 35.96 106.00 0.15 4.00 100.50 2.50 39.11 Feb : 35.96 106.00 0.15 4.00 100.50 2.50 39.11 Sel. Mideast 7/Jan : 6.79 20.27 8.75 0.90 29.05 0.55 6.21 Feb : 6.79 20.27 8.75 0.90 29.05 0.55 6.21 N. Africa 8/ Jan : 11.18 13.78 17.55 0.15 34.63 0.16 7.73 Feb : 11.18 13.78 17.80 0.15 34.88 0.16 7.73 Pakistan Jan : 2.92 23.00 1.00 0.40 22.40 1.00 3.52 Feb : 2.92 23.00 1.00 0.40 22.40 1.00 3.52 SE Asia 9/ Jan : 2.28 0.00 10.20 0.90 10.28 0.43 1.78 Feb : 2.28 0.00 10.20 0.90 10.28 0.43 1.78 Selected other : India Jan : 4.50 74.89 2.00 0.20 75.85 0.05 5.49 Feb : 4.50 74.89 2.00 0.20 75.85 0.05 5.49 FSU-12 Jan : 9.60 92.57 5.37 23.40 76.14 21.65 9.75 Feb : 9.60 93.49 5.37 23.68 76.42 22.65 9.39 Russia Jan : 2.38 49.40 1.00 15.40 38.20 12.00 2.58 Feb : 2.38 49.40 1.00 15.40 38.20 12.50 2.08 Kazakhstan Jan : 1.04 16.00 0.02 2.70 7.50 8.00 1.56 Feb : 1.04 16.60 0.02 2.70 7.50 8.50 1.66 Ukraine Jan : 1.43 13.80 0.25 2.90 12.50 1.50 1.48 Feb : 1.43 13.90 0.35 3.10 12.70 1.50 1.48 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and the EU-27. 5/ Trade excludes intra-trade. 6/ Brazil, China, Japan, Mexico, N. Africa, Pakistan, selected Middle East, and Southeast Asia. 7/ Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and Oman. 8/ Algeria, Egypt, Libya, Morocco, and Tunisia. 9/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-455-20 World Coarse Grain Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2005/06 : World 3/ : 178.57 977.34 104.50 635.27 991.50 107.12 164.40 United States : 58.80 298.76 2.05 163.33 245.07 59.77 54.77 Total foreign : 119.77 678.57 102.45 471.93 746.43 47.34 109.64 Major exporters 4/ : 13.61 65.04 3.09 35.55 48.23 20.26 13.26 Argentina : 1.56 19.22 0.06 6.81 9.37 10.02 1.46 Australia : 2.30 13.54 0.00 5.89 7.17 5.59 3.08 Canada : 6.32 24.97 1.99 18.64 22.92 4.08 6.28 Major importers 5/ : 47.64 216.52 77.50 218.30 293.31 5.66 42.69 EU-27 6/ : 25.12 146.74 2.78 109.42 147.54 4.36 22.75 Japan : 1.88 0.19 19.77 15.06 20.09 0.01 1.74 Mexico : 5.40 25.83 9.90 21.19 37.59 0.21 3.34 N. Afr & Mideast 7/: 8.57 26.61 18.84 38.90 45.80 0.89 7.33 Saudi Arabia : 2.71 0.20 8.52 8.00 8.19 0.00 3.25 Southeast Asia 8/ : 1.69 16.55 4.41 14.57 20.33 0.20 2.13 South Korea : 1.40 0.34 8.55 6.56 8.91 0.00 1.38 Selected other : Brazil : 4.38 44.17 1.36 35.01 42.22 4.52 3.17 China : 37.02 147.70 2.31 103.12 147.46 3.76 35.81 FSU-12 : 7.24 55.31 1.16 33.76 49.75 8.47 5.49 Russia : 2.67 27.60 0.54 17.65 27.70 1.78 1.33 Ukraine : 2.67 18.14 0.07 8.45 11.99 6.50 2.40 : : 2006/07 (Estimated) : World 3/ : 164.40 981.81 113.10 630.28 1009.69 115.48 136.52 United States : 54.77 280.11 2.55 148.37 242.81 58.45 36.17 Total foreign : 109.64 701.70 110.55 481.91 766.88 57.03 100.35 Major exporters 4/ : 13.26 65.02 3.79 36.37 50.01 23.01 9.05 Argentina : 1.46 27.54 0.00 7.36 10.02 16.81 2.17 Australia : 3.08 6.58 0.00 5.00 6.23 2.03 1.40 Canada : 6.28 23.15 2.17 19.45 24.45 3.65 3.49 Major importers 5/ : 42.69 211.99 84.94 220.36 296.00 5.68 37.94 EU-27 6/ : 22.75 138.32 7.99 108.01 146.51 4.69 17.86 Japan : 1.74 0.18 19.67 14.88 19.82 0.00 1.76 Mexico : 3.34 28.73 11.02 22.90 39.45 0.22 3.43 N. Afr & Mideast 7/: 7.33 27.29 20.84 40.05 47.28 0.31 7.87 Saudi Arabia : 3.25 0.20 8.10 8.43 8.61 0.00 2.94 Southeast Asia 8/ : 2.13 16.90 4.00 14.86 20.62 0.46 1.94 South Korea : 1.38 0.33 8.80 6.96 9.16 0.00 1.35 Selected other : Brazil : 3.17 53.17 1.76 36.29 43.44 9.82 4.84 China : 35.81 154.04 1.16 104.64 152.76 5.41 32.83 FSU-12 : 5.49 58.70 0.89 35.67 51.27 8.48 5.34 Russia : 1.33 30.20 0.36 18.60 28.60 1.62 1.67 Ukraine : 2.40 19.18 0.05 9.95 13.38 6.13 2.12 =============================================================================== 1/ Aggregate of local marketing years. Coarse grains include corn, sorghum, barley, oats, rye, millet, and mixed grains (for U.S. excludes millet and mixed grains). 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and South Africa. 5/ The EU-27, Mexico, Japan, selected North Africa and Middle East, South Korea, Southeast Asia, and Taiwan. 6/ Trade excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya, Morocco, Syria, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-455-21 World Coarse Grain Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2007/08 (Projected) World 3/ : January : 136.48 1051.58 117.03 652.57 1062.45 119.38 125.62 February : 136.52 1051.91 116.91 651.96 1062.46 119.50 125.97 United States : January : 36.17 351.06 2.84 159.05 280.13 70.59 39.36 February : 36.17 351.06 2.84 159.05 280.13 70.59 39.36 Total foreign : January : 100.31 700.52 114.20 493.51 782.32 48.79 86.26 February : 100.35 700.84 114.07 492.90 782.33 48.91 86.61 Major exporters 4/ : January : 9.05 75.30 2.45 37.10 51.47 25.57 9.76 February : 9.05 75.40 2.45 36.90 51.47 25.47 9.96 Argentina Jan : 2.17 27.67 0.00 7.51 10.27 17.61 1.97 Feb : 2.17 26.67 0.00 7.51 10.27 16.61 1.97 Australia Jan : 1.30 9.31 0.00 5.49 6.78 2.54 1.29 Feb : 1.40 9.41 0.00 5.59 6.88 2.54 1.39 Canada Jan : 3.49 27.84 2.07 19.09 24.65 4.60 4.15 Feb : 3.49 27.84 2.07 19.09 24.65 4.80 3.95 Major importers 5/ : January : 37.91 209.31 91.32 227.74 304.06 5.45 29.03 February : 37.94 208.91 90.92 226.94 303.27 5.47 29.03 EU-27 6/ Jan : 17.65 136.61 14.46 112.17 151.27 5.11 12.34 Feb : 17.86 136.60 14.56 112.37 151.47 5.06 12.49 Japan Jan : 1.76 0.17 19.14 14.51 19.54 0.00 1.53 Feb : 1.76 0.17 19.14 14.51 19.54 0.00 1.53 Mexico Jan : 3.44 30.18 12.30 25.48 42.18 0.03 3.72 Feb : 3.43 29.78 11.80 24.48 41.18 0.10 3.73 N Afr/M.East 7/Jan : 7.91 24.65 20.50 40.02 47.01 0.05 6.00 Feb : 7.87 24.65 20.50 40.02 47.01 0.05 5.96 Saudi Arabia Jan : 2.94 0.20 7.40 8.63 8.81 0.00 1.73 Feb : 2.94 0.20 7.40 8.63 8.81 0.00 1.73 S.-east Asia 8/Jan : 2.06 17.12 4.21 15.56 21.42 0.26 1.71 Feb : 1.94 17.12 4.21 15.56 21.42 0.26 1.59 South Korea Jan : 1.35 0.32 8.87 7.05 9.23 0.00 1.31 Feb : 1.35 0.32 8.87 7.05 9.23 0.00 1.31 Selected other : Brazil Jan : 4.84 52.86 1.01 38.28 45.51 8.53 4.67 Feb : 4.84 52.86 1.01 38.28 45.51 8.53 4.67 China Jan : 32.83 153.40 1.43 106.60 157.74 1.04 28.88 Feb : 32.83 153.40 1.43 106.60 157.74 1.04 28.88 FSU-12 Jan : 5.36 53.12 0.61 34.64 50.01 4.75 4.33 Feb : 5.34 53.91 0.56 34.85 50.37 4.95 4.49 Russia Jan : 1.71 28.55 0.43 18.35 28.43 1.05 1.21 Feb : 1.67 29.33 0.38 18.78 29.05 1.05 1.27 Ukraine Jan : 2.10 14.95 0.02 9.60 12.65 2.51 1.91 Feb : 2.12 14.59 0.02 9.29 12.29 2.51 1.93 =============================================================================== 1/ Aggregate of local marketing years. Coarse grains include corn, sorghum, barley, oats, rye, millet, and mixed grains (for U.S. excludes millet and mixed grains). 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and South Africa. 5/ The EU-27, Mexico, Japan, selected North Africa and Middle East, South Korea, Southeast Asia, and Taiwan. 6/ Trade excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya, Morocco, Syria, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-455-22 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2005/06 : World 3/ : 131.41 696.30 79.47 476.33 703.98 80.93 123.74 United States : 53.70 282.31 0.22 156.34 232.06 54.20 49.97 Total foreign : 77.71 413.99 79.24 320.00 471.92 26.73 73.77 Major exporters 4/ : 4.15 22.74 1.00 8.40 14.40 10.01 3.46 Argentina : 0.96 15.80 0.06 4.40 6.20 9.46 1.16 South Africa : 3.19 6.94 0.93 4.00 8.20 0.55 2.31 Major importers 5/ : 18.02 103.16 47.86 105.16 149.70 0.84 18.50 Egypt : 0.42 5.93 4.40 8.30 10.10 0.00 0.65 EU-27 6/ : 8.11 61.16 2.63 47.00 61.50 0.45 9.95 Japan : 1.03 0.00 16.62 12.00 16.70 0.01 0.94 Mexico : 4.53 19.50 6.79 12.40 27.90 0.21 2.71 Southeast Asia 7/ : 1.66 16.46 4.40 14.50 20.25 0.17 2.10 South Korea : 1.40 0.07 8.49 6.51 8.58 0.00 1.38 Selected other : Brazil : 4.19 41.70 1.15 33.00 39.50 4.52 3.02 Canada : 1.80 9.36 1.93 8.55 10.84 0.25 2.00 China : 36.56 139.36 0.06 101.00 137.00 3.73 35.26 FSU-12 : 2.14 13.29 0.71 10.27 11.93 2.55 1.65 Ukraine : 1.32 7.15 0.01 4.40 5.10 2.46 0.92 : : 2006/07 (Estimated) : World 3/ : 123.74 704.16 91.03 472.31 720.65 91.85 107.25 United States : 49.97 267.60 0.30 142.19 230.79 53.97 33.11 Total foreign : 73.77 436.57 90.72 330.12 489.86 37.88 74.14 Major exporters 4/ : 3.46 29.80 1.50 9.10 15.40 15.80 3.56 Argentina : 1.16 22.50 0.00 4.80 6.70 15.30 1.66 South Africa : 2.31 7.30 1.50 4.30 8.70 0.50 1.91 Major importers 5/ : 18.50 99.69 54.67 107.51 152.21 1.32 19.33 Egypt : 0.65 5.94 4.83 8.50 10.50 0.00 0.91 EU-27 6/ : 9.95 54.83 7.06 46.50 61.10 0.66 10.08 Japan : 0.94 0.00 16.71 11.90 16.50 0.00 1.15 Mexico : 2.71 22.00 8.94 14.70 30.30 0.22 3.13 Southeast Asia 7/ : 2.10 16.81 3.99 14.80 20.55 0.44 1.91 South Korea : 1.38 0.07 8.74 6.91 8.83 0.00 1.35 Selected other : Brazil : 3.02 51.00 1.40 34.50 41.00 9.70 4.72 Canada : 2.00 8.99 2.10 8.46 11.44 0.31 1.34 China : 35.26 145.48 0.02 103.00 143.00 5.27 32.48 FSU-12 : 1.65 12.85 0.48 10.49 12.13 1.13 1.72 Ukraine : 0.92 6.40 0.02 4.50 5.25 1.03 1.07 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina and South Africa. 5/ Egypt, the EU-27, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-455-23 World Corn Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2007/08 (Projected) World 3/ : January : 107.33 766.72 92.15 491.89 772.72 94.34 101.33 February : 107.25 766.23 92.43 491.05 771.60 94.12 101.88 United States : January : 33.11 332.09 0.38 151.14 266.84 62.23 36.52 February : 33.11 332.09 0.38 151.14 266.84 62.23 36.52 Total foreign : January : 74.22 434.62 91.77 340.76 505.88 32.11 64.81 February : 74.14 434.14 92.05 339.91 504.76 31.89 65.37 Major exporters 4/ : January : 3.66 32.50 0.25 9.60 15.90 16.80 3.71 February : 3.56 32.50 0.25 9.30 15.80 16.50 4.01 Argentina Jan : 1.66 22.50 0.00 4.80 6.70 16.00 1.46 Feb : 1.66 21.50 0.00 4.80 6.70 15.00 1.46 South Africa Jan : 2.01 10.00 0.25 4.80 9.20 0.80 2.26 Feb : 1.91 11.00 0.25 4.50 9.10 1.50 2.56 Major importers 5/ : January : 19.26 93.68 58.30 111.20 156.77 0.56 13.90 February : 19.33 93.10 58.30 110.40 155.98 0.64 14.12 Egypt Jan : 0.89 5.98 4.50 8.60 10.70 0.00 0.67 Feb : 0.91 5.98 4.50 8.60 10.70 0.00 0.69 EU-27 6/ Jan : 9.90 47.37 10.00 46.60 61.60 0.30 5.36 Feb : 10.08 47.50 10.00 46.60 61.60 0.30 5.67 Japan Jan : 1.15 0.00 16.30 11.80 16.50 0.00 0.95 Feb : 1.15 0.00 16.30 11.80 16.50 0.00 0.95 Mexico Jan : 3.15 23.20 10.20 17.50 33.30 0.03 3.23 Feb : 3.13 22.50 10.20 16.70 32.50 0.10 3.23 S.-east Asia 7/Jan : 2.03 17.03 4.20 15.50 21.35 0.24 1.68 Feb : 1.91 17.03 4.20 15.50 21.35 0.24 1.56 South Korea Jan : 1.35 0.06 8.80 7.00 8.90 0.00 1.31 Feb : 1.35 0.06 8.80 7.00 8.90 0.00 1.31 Selected other : Brazil Jan : 4.72 50.00 0.75 36.00 42.50 8.50 4.47 Feb : 4.72 50.00 0.75 36.00 42.50 8.50 4.47 Canada Jan : 1.34 11.65 2.00 9.20 12.70 0.40 1.89 Feb : 1.34 11.65 2.00 9.20 12.70 0.40 1.89 China Jan : 32.48 145.00 0.10 105.00 148.00 1.00 28.58 Feb : 32.48 145.00 0.10 105.00 148.00 1.00 28.58 FSU-12 Jan : 1.74 13.53 0.28 10.61 12.20 1.58 1.77 Feb : 1.72 13.79 0.23 10.69 12.28 1.58 1.88 Ukraine Jan : 1.05 7.40 0.00 5.00 5.60 1.50 1.35 Feb : 1.07 7.40 0.00 5.00 5.60 1.50 1.37 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina and South Africa. 5/ Egypt, the EU-27, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-455-24 World Rice Supply and Use (Milled Basis) 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total 2/: : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2005/06 World 3/ : 74.48 417.64 26.02 415.47 30.16 76.65 United States : 1.21 7.11 0.54 3.84 3.66 1.37 Total foreign : 73.27 410.53 25.48 411.63 26.50 75.28 Major exporters 4/ : 12.41 138.31 0.36 114.92 20.43 15.73 India : 8.50 91.79 0.01 85.09 4.69 10.52 Pakistan : 0.31 5.55 0.00 1.90 3.66 0.30 Thailand : 2.31 18.20 0.00 9.54 7.38 3.59 Vietnam : 1.29 22.77 0.35 18.39 4.71 1.32 Major importers 5/ : 12.79 59.66 10.79 69.69 0.50 13.04 Brazil : 1.75 7.87 0.75 8.97 0.28 1.11 EU-27 6/ : 1.14 1.73 1.13 2.65 0.16 1.18 Indonesia : 3.45 34.96 0.54 35.74 0.00 3.21 Nigeria : 0.42 2.70 1.78 4.35 0.00 0.55 Philippines : 4.57 9.82 1.62 10.72 0.00 5.29 Sel. Mideast 7/ : 1.27 2.02 3.91 5.61 0.06 1.54 Selected other : Burma : 0.71 10.44 0.00 10.40 0.05 0.70 C. Amer & Carib 8/ : 0.13 0.07 0.48 0.48 0.00 0.20 China : 38.93 126.41 0.65 128.00 1.22 36.78 Egypt : 0.50 4.14 0.03 3.34 0.96 0.36 Japan : 1.92 8.26 0.67 8.25 0.20 2.40 Mexico : 0.17 0.18 0.58 0.78 0.00 0.16 South Korea : 0.82 4.77 0.22 4.77 0.22 0.82 : : 2006/07 (Estimated) World 3/ : 76.65 417.66 27.80 419.18 29.47 75.13 United States : 1.37 6.24 0.65 4.05 2.94 1.27 Total foreign : 75.28 411.42 27.14 415.12 26.53 73.87 Major exporters 4/ : 15.73 139.10 0.46 118.62 20.90 15.76 India : 10.52 92.76 0.00 87.65 4.20 11.43 Pakistan : 0.30 5.20 0.00 2.44 2.60 0.46 Thailand : 3.59 18.25 0.01 9.87 9.50 2.48 Vietnam : 1.32 22.89 0.45 18.67 4.60 1.39 Major importers 5/ : 13.04 58.49 11.57 70.00 0.35 12.74 Brazil : 1.11 7.70 0.69 8.79 0.15 0.56 EU-27 6/ : 1.18 1.69 1.30 2.75 0.15 1.27 Indonesia : 3.21 33.30 1.90 35.55 0.00 2.86 Nigeria : 0.55 2.90 1.60 4.45 0.00 0.60 Philippines : 5.29 10.09 1.80 11.55 0.00 5.63 Sel. Mideast 7/ : 1.54 2.22 3.16 5.20 0.05 1.67 Selected other : Burma : 0.70 10.60 0.00 10.56 0.04 0.70 C. Amer & Carib 8/ : 0.20 0.07 0.45 0.50 0.00 0.22 China : 36.78 127.80 0.50 127.80 1.32 35.97 Egypt : 0.36 4.38 0.10 3.30 1.15 0.40 Japan : 2.40 7.79 0.65 8.25 0.20 2.38 Mexico : 0.16 0.23 0.60 0.80 0.00 0.18 South Korea : 0.82 4.68 0.27 4.78 0.16 0.82 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, and the EU-27. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries. WASDE-455-25 World Rice Supply and Use (Milled Basis) 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total 2/: : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2007/08 (Projected) World 3/ : January : 75.57 420.62 27.51 423.65 29.26 72.54 February : 75.13 420.63 27.45 423.70 29.36 72.07 United States : January : 1.27 6.31 0.68 3.99 3.49 0.79 February : 1.27 6.31 0.68 3.99 3.55 0.72 Total foreign : January : 74.30 414.30 26.83 419.66 25.77 71.75 February : 73.87 414.32 26.77 419.71 25.81 71.34 Major exporters 4/ : January : 15.76 139.26 0.46 119.56 20.30 15.62 February : 15.76 139.26 0.46 119.56 20.40 15.52 India Jan : 11.43 92.00 0.00 88.80 3.40 11.23 Feb : 11.43 92.00 0.00 88.80 3.50 11.13 Pakistan Jan : 0.46 5.40 0.00 2.44 2.90 0.52 Feb : 0.46 5.40 0.00 2.44 2.90 0.52 Thailand Jan : 2.48 18.60 0.01 9.60 9.00 2.49 Feb : 2.48 18.60 0.01 9.60 9.00 2.49 Vietnam Jan : 1.39 23.26 0.45 18.72 5.00 1.39 Feb : 1.39 23.26 0.45 18.72 5.00 1.39 Major importers 5/ : January : 12.63 59.69 10.98 71.68 0.32 11.29 February : 12.74 59.70 10.98 71.68 0.32 11.41 Brazil Jan : 0.56 7.99 0.85 8.90 0.15 0.35 Feb : 0.56 7.99 0.85 8.90 0.15 0.35 EU-27 6/ Jan : 1.12 1.67 1.10 2.75 0.15 0.99 Feb : 1.27 1.68 1.10 2.75 0.15 1.15 Indonesia Jan : 2.86 34.00 1.60 36.15 0.00 2.31 Feb : 2.86 34.00 1.60 36.15 0.00 2.31 Nigeria Jan : 0.60 3.00 1.70 4.70 0.00 0.60 Feb : 0.60 3.00 1.70 4.70 0.00 0.60 Philippines Jan : 5.63 10.01 1.80 12.06 0.00 5.38 Feb : 5.63 10.01 1.80 12.06 0.00 5.38 Sel. Mideast 7/Jan : 1.71 2.42 2.96 5.51 0.02 1.55 Feb : 1.67 2.42 2.96 5.51 0.02 1.52 Selected other : Burma Jan : 0.70 10.66 0.00 10.70 0.10 0.56 Feb : 0.70 10.66 0.00 10.70 0.20 0.46 C. Am & Car. 8/Jan : 0.22 0.07 0.40 0.49 0.00 0.19 Feb : 0.22 0.07 0.40 0.49 0.00 0.19 China Jan : 36.08 129.50 0.60 129.10 1.30 35.78 Feb : 35.97 129.50 0.60 129.10 1.30 35.67 Egypt Jan : 0.62 4.41 0.00 3.47 1.10 0.45 Feb : 0.40 4.38 0.00 3.40 0.95 0.43 Japan Jan : 2.38 7.94 0.70 8.15 0.20 2.67 Feb : 2.38 7.94 0.70 8.15 0.20 2.67 Mexico Jan : 0.18 0.20 0.63 0.80 0.00 0.20 Feb : 0.18 0.20 0.63 0.80 0.00 0.20 South Korea Jan : 0.82 4.41 0.27 4.76 0.15 0.58 Feb : 0.82 4.41 0.27 4.76 0.15 0.58 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, the EU-27. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries. WASDE-455-26 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2005/06 : World : 57.35 117.69 44.37 116.31 44.53 -1.60 60.18 United States : 5.50 23.89 0.03 5.87 17.55 -0.06 6.05 Total foreign : 51.86 93.80 44.34 110.44 26.98 -1.54 54.13 Major exporters 4/ : 22.38 43.71 1.74 25.66 22.40 -0.24 20.01 Central Asia 5/ : 2.33 8.37 0.20 1.48 7.24 0.00 2.19 Afr. Fr. Zone 6/ : 1.87 4.24 3/ 0.19 4.44 0.00 1.48 S. Hemis. 7/ : 7.99 8.94 0.61 5.51 5.55 -0.25 6.75 Australia : 1.96 2.80 3/ 0.06 2.88 -0.12 1.94 Brazil : 5.03 4.70 0.31 4.40 1.97 -0.15 3.82 India : 8.76 19.05 0.40 16.70 3.45 0.00 8.06 Major importers 8/ : 27.04 46.53 40.08 80.15 2.89 -1.31 31.91 Mexico : 1.32 0.64 1.74 2.10 0.25 0.03 1.32 China : 15.06 29.50 19.28 45.00 0.04 -1.50 20.31 EU-27 9/ : 1.15 2.51 2.31 2.72 2.01 0.06 1.18 Russia : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey : 1.79 3.55 3.40 6.90 0.18 0.00 1.67 Pakistan : 4.95 10.17 1.62 11.50 0.29 0.03 4.91 Indonesia : 0.38 0.03 2.20 2.18 0.02 0.05 0.37 Thailand : 0.57 0.02 1.89 2.05 0.01 0.03 0.41 Bangladesh : 0.38 0.07 2.21 2.20 0.00 0.01 0.46 : : 2006/07 (Estimated) : World : 60.18 122.07 37.28 123.58 37.40 -2.17 60.71 United States : 6.05 21.59 0.02 4.95 13.01 0.22 9.48 Total foreign : 54.13 100.48 37.26 118.64 24.39 -2.39 51.24 Major exporters 4/ : 20.01 45.68 2.21 27.68 20.60 -0.19 19.80 Central Asia 5/ : 2.19 8.18 0.31 1.59 6.88 0.00 2.21 Afr. Fr. Zone 6/ : 1.48 3.64 3/ 0.19 3.81 0.00 1.13 S. Hemis. 7/ : 6.75 9.87 0.95 5.71 4.09 -0.20 7.97 Australia : 1.94 1.35 3/ 0.06 2.13 -0.07 1.18 Brazil : 3.82 7.00 0.52 4.50 1.30 -0.15 5.68 India : 8.06 21.80 0.40 18.40 4.85 0.00 7.01 Major importers 8/ : 31.91 51.73 32.37 86.36 2.42 -2.21 29.44 Mexico : 1.32 0.65 1.35 2.10 0.18 0.03 1.03 China : 20.31 35.50 10.59 50.00 0.09 -2.40 18.71 EU-27 9/ : 1.18 1.61 2.02 2.36 1.58 0.06 0.83 Russia : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey : 1.67 3.90 4.00 7.30 0.21 0.00 2.06 Pakistan : 4.91 9.90 2.30 12.50 0.26 0.03 4.33 Indonesia : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Thailand : 0.41 0.02 1.95 1.95 0.00 0.03 0.40 Bangladesh : 0.46 0.07 2.40 2.40 0.00 0.01 0.52 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, China, and the United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Paraguay, South Africa, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, South Korea, Taiwan, and Vietnam. 9/ Includes intra-EU trade. WASDE-455-27 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2007/08 (Projected) World : January : 60.76 118.25 41.16 128.02 40.88 -3.47 54.75 February : 60.71 119.21 40.32 126.32 40.05 -3.47 57.33 United States : January : 9.48 19.03 0.02 4.60 16.00 0.03 7.90 February : 9.48 19.03 0.02 4.60 15.70 0.03 8.20 Total foreign : January : 51.29 99.22 41.14 123.42 24.88 -3.50 46.85 February : 51.24 100.18 40.30 121.72 24.35 -3.50 49.13 Major exporters 4/ : January : 19.85 47.78 2.00 28.61 21.46 -0.19 19.75 February : 19.80 47.41 2.00 28.13 21.00 -0.19 20.26 Central Asia 5/Jan : 2.21 8.35 0.30 1.70 6.94 0.00 2.22 Feb : 2.21 8.35 0.30 1.70 6.93 0.00 2.23 Afr. Fr. Zn. 6/Jan : 1.13 2.78 3/ 0.19 2.94 0.00 0.77 Feb : 1.13 2.72 3/ 0.19 2.83 0.00 0.83 S. Hemis 7/ Jan : 7.97 9.08 0.75 5.72 4.50 -0.20 7.77 Feb : 7.97 9.31 0.75 5.75 4.30 -0.20 8.18 Australia Jan : 1.18 0.60 3/ 0.05 1.40 -0.07 0.40 Feb : 1.18 0.60 3/ 0.05 1.30 -0.07 0.50 Brazil Jan : 5.68 7.00 0.35 4.50 2.50 -0.15 6.18 Feb : 5.68 7.20 0.35 4.50 2.40 -0.15 6.48 India Jan : 7.06 25.00 0.40 19.20 5.80 0.00 7.46 Feb : 7.01 24.50 0.40 18.70 5.70 0.00 7.51 Major importers 8/ : January : 29.44 48.41 36.57 90.31 2.16 -3.32 25.27 February : 29.44 49.81 35.68 89.07 2.14 -3.32 27.05 Mexico Jan : 1.03 0.65 1.50 2.00 0.18 0.03 0.98 Feb : 1.03 0.65 1.50 2.00 0.18 0.03 0.98 China Jan : 18.71 34.50 14.00 55.00 0.08 -3.50 15.64 Feb : 18.71 35.50 13.50 54.00 0.08 -3.50 17.14 EU-27 9/ Jan : 0.83 1.59 1.85 2.14 1.43 0.05 0.65 Feb : 0.83 1.59 1.84 2.12 1.38 0.05 0.70 Russia Jan : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Feb : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey Jan : 2.06 3.30 3.75 7.20 0.20 0.00 1.71 Feb : 2.06 3.30 3.75 7.10 0.20 0.00 1.81 Pakistan Jan : 4.33 8.20 3.50 12.00 0.15 0.03 3.85 Feb : 4.33 8.60 3.20 12.00 0.15 0.03 3.95 Indonesia Jan : 0.35 0.03 2.25 2.20 0.02 0.05 0.36 Feb : 0.35 0.03 2.25 2.20 0.02 0.05 0.36 Thailand Jan : 0.40 0.02 1.90 1.90 0.00 0.03 0.39 Feb : 0.40 0.02 1.80 1.80 0.00 0.03 0.39 Bangladesh Jan : 0.52 0.07 2.45 2.50 0.00 0.01 0.54 Feb : 0.52 0.07 2.45 2.50 0.00 0.01 0.54 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, and the United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Paraguay, South Africa, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, South Korea, Taiwan, and Vietnam. 9/ Includes intra-EU trade. WASDE-455-28 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 2005/06 World 2/ : 47.50 220.44 64.04 184.98 215.15 63.94 52.88 United States : 6.96 83.37 0.09 47.32 52.61 25.58 12.23 Total foreign : 40.54 137.07 63.95 137.66 162.54 38.36 40.66 Major exporters 3/ : 32.91 101.14 0.66 61.39 65.87 35.63 33.21 Argentina : 15.98 40.50 0.58 31.89 33.34 7.25 16.47 Brazil : 16.75 57.00 0.06 28.29 31.17 25.91 16.73 Major importers 4/ : 6.40 18.99 53.04 56.66 72.05 0.42 5.97 China : 4.70 16.35 28.32 34.50 44.54 0.35 4.47 EU-27 : 0.88 1.17 13.94 13.53 14.97 0.05 0.98 Japan : 0.26 0.23 3.96 2.82 4.19 0.00 0.26 Mexico : 0.05 0.19 3.67 3.82 3.86 0.00 0.04 : : 2006/07 (Estimated) World 2/ : 52.88 235.52 68.88 195.19 224.70 70.92 61.67 United States : 12.23 86.77 0.25 49.16 53.20 30.43 15.62 Total foreign : 40.66 148.75 68.64 146.03 171.50 40.49 46.05 Major exporters 3/ : 33.21 112.40 2.05 66.32 70.90 37.02 39.74 Argentina : 16.47 47.20 1.99 33.59 35.09 9.54 21.03 Brazil : 16.73 59.00 0.05 30.68 33.63 23.49 18.67 Major importers 4/ : 5.97 18.54 55.49 58.83 74.41 0.52 5.07 China : 4.47 15.97 28.73 35.48 45.60 0.45 3.12 EU-27 : 0.98 1.24 15.29 14.56 16.00 0.05 1.46 Japan : 0.26 0.23 4.09 2.93 4.31 0.00 0.27 Mexico : 0.04 0.08 3.94 3.99 4.02 0.00 0.04 : : 2007/08 (Projected) World 2/ : January : 61.58 220.34 75.11 204.91 235.26 75.54 46.24 February : 61.67 220.07 75.32 204.85 235.50 75.75 45.82 United States : January : 15.62 70.36 0.16 49.80 54.30 27.08 4.76 February : 15.62 70.36 0.16 49.94 54.44 27.35 4.35 Total foreign : January : 45.96 149.99 74.95 155.11 180.95 48.46 41.48 February : 46.05 149.72 75.16 154.91 181.06 48.40 41.47 Major exporters 3/ : January : 39.77 114.50 2.22 70.53 75.16 45.49 35.84 February : 39.74 114.50 2.22 70.53 75.16 45.49 35.81 Argentina Jan : 21.05 47.00 2.10 38.50 40.04 11.20 18.92 Feb : 21.03 47.00 2.10 38.50 40.04 11.20 18.89 Brazil Jan : 18.67 60.50 0.10 29.70 32.68 29.69 16.91 Feb : 18.67 60.50 0.10 29.70 32.68 29.69 16.91 Major importers 4/ : January : 5.09 16.47 61.39 61.97 77.94 0.37 4.62 February : 5.07 16.47 61.41 61.99 77.99 0.35 4.61 China Jan : 3.12 14.30 34.00 38.10 48.35 0.30 2.77 Feb : 3.12 14.30 34.00 38.10 48.35 0.30 2.77 EU-27 Jan : 1.47 0.84 15.45 15.00 16.42 0.05 1.30 Feb : 1.46 0.84 15.45 15.00 16.44 0.03 1.29 Japan Jan : 0.27 0.23 4.15 2.93 4.33 0.00 0.32 Feb : 0.27 0.23 4.15 2.93 4.33 0.00 0.32 Mexico Jan : 0.04 0.10 3.95 4.01 4.05 0.00 0.04 Feb : 0.04 0.10 3.95 4.01 4.05 0.00 0.04 =============================================================================== 1/ Data based on local marketing years except Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil and Paraguay. 4/ Japan, China, and EU, Mexico, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). WASDE-455-29 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2005/06 World 2/ : 6.50 145.52 50.77 145.84 51.43 5.52 United States : 0.16 37.42 0.13 30.11 7.30 0.29 Total foreign : 6.35 108.11 50.64 115.73 44.13 5.23 Major exporters 3/ : 3.88 51.63 0.20 11.83 40.77 3.11 Argentina : 1.42 25.01 0.00 0.57 24.19 1.68 Brazil : 1.58 21.84 0.20 9.60 12.90 1.12 India : 0.88 4.77 0.00 1.66 3.68 0.31 Major importers 4/ : 1.23 39.27 29.44 67.75 1.09 1.10 EU-27 : 0.86 10.64 22.82 32.76 0.70 0.87 China : 0.00 27.30 0.84 27.78 0.36 0.00 : : 2006/07 (Estimated) World 2/ : 5.52 153.45 51.62 151.04 54.09 5.45 United States : 0.29 39.03 0.14 31.17 7.97 0.32 Total foreign : 5.23 114.42 51.48 119.87 46.12 5.13 Major exporters 3/ : 3.11 55.01 0.17 13.37 41.79 3.13 Argentina : 1.68 26.06 0.00 0.56 25.62 1.57 Brazil : 1.12 23.68 0.17 10.87 12.72 1.38 India : 0.31 5.27 0.00 1.95 3.46 0.18 Major importers 4/ : 1.10 40.88 28.49 67.95 1.45 1.07 EU-27 : 0.87 11.45 22.08 32.99 0.55 0.85 China : 0.00 28.09 0.03 27.26 0.87 0.00 : : 2007/08 (Projected) World 2/ : January : 5.40 161.45 55.22 159.24 57.40 5.42 February : 5.45 161.55 55.90 159.83 57.63 5.43 United States : January : 0.32 39.45 0.15 32.02 7.62 0.27 February : 0.32 39.72 0.15 32.02 7.89 0.27 Total foreign : January : 5.08 122.00 55.07 127.21 49.78 5.15 February : 5.13 121.83 55.75 127.81 49.74 5.16 Major exporters 3/ : January : 3.14 59.47 0.22 14.11 45.49 3.24 February : 3.13 59.47 0.22 14.01 45.59 3.22 Argentina Jan : 1.59 30.23 0.00 0.64 29.49 1.68 Feb : 1.57 30.23 0.00 0.64 29.49 1.66 Brazil Jan : 1.38 23.00 0.22 11.24 12.00 1.36 Feb : 1.38 23.00 0.22 11.24 12.00 1.36 India Jan : 0.18 6.25 0.00 2.23 4.00 0.19 Feb : 0.18 6.25 0.00 2.13 4.10 0.19 Major importers 4/ : January : 1.06 43.28 30.55 72.71 1.14 1.05 February : 1.07 43.31 31.15 73.43 1.04 1.06 EU-27 Jan : 0.86 11.80 23.40 34.64 0.55 0.86 Feb : 0.85 11.80 24.00 35.34 0.45 0.86 China Jan : 0.00 30.15 0.40 30.00 0.55 0.00 Feb : 0.00 30.15 0.40 30.00 0.55 0.00 =============================================================================== 1/ Data based on local marketing years except for Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil, and India. 4/ Eastern Europe, China, EU, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). WASDE-455-30 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2005/06 World 2/ : 3.05 34.50 9.01 33.49 9.82 3.24 United States : 0.77 9.25 0.02 8.15 0.52 1.37 Total foreign : 2.27 25.25 9.00 25.35 9.29 1.88 Major exporters 3/ : 1.14 13.85 0.74 6.40 8.33 1.00 Argentina : 0.49 6.00 0.00 0.40 5.60 0.49 Brazil : 0.45 5.43 0.03 3.13 2.47 0.31 EU-27 : 0.20 2.42 0.71 2.87 0.27 0.19 Major importers 4/ : 0.64 7.20 3.26 10.55 0.12 0.43 China : 0.25 6.15 1.52 7.61 0.11 0.20 India : 0.39 1.05 1.73 2.92 0.01 0.23 Pakistan : 0.01 0.00 0.02 0.02 0.00 0.00 : : 2006/07 (Estimated) World 2/ : 3.24 36.23 9.75 35.51 10.68 3.03 United States : 1.37 9.29 0.02 8.50 0.86 1.32 Total foreign : 1.88 26.94 9.74 27.01 9.83 1.71 Major exporters 3/ : 1.00 14.91 0.96 7.25 8.68 0.94 Argentina : 0.49 6.42 0.00 0.57 5.96 0.39 Brazil : 0.31 5.89 0.00 3.38 2.46 0.36 EU-27 : 0.19 2.60 0.96 3.30 0.26 0.20 Major importers 4/ : 0.43 7.53 3.84 11.24 0.10 0.46 China : 0.20 6.34 2.40 8.60 0.09 0.25 India : 0.23 1.18 1.40 2.60 0.01 0.21 Pakistan : 0.00 0.01 0.04 0.04 0.00 0.00 : : 2007/08 (Projected) World 2/ : January : 3.02 38.04 10.55 38.23 10.77 2.61 February : 3.03 38.08 10.33 37.92 10.92 2.59 United States : January : 1.32 9.46 0.02 9.03 0.75 1.02 February : 1.32 9.53 0.02 8.85 0.88 1.14 Total foreign : January : 1.70 28.58 10.53 29.20 10.02 1.59 February : 1.71 28.55 10.31 29.08 10.04 1.46 Major exporters 3/ : January : 0.95 15.73 0.92 7.82 8.90 0.89 February : 0.94 15.73 0.92 7.82 8.90 0.88 Argentina Jan : 0.39 7.35 0.00 0.94 6.40 0.40 Feb : 0.39 7.35 0.00 0.94 6.40 0.40 Brazil Jan : 0.36 5.70 0.01 3.50 2.27 0.30 Feb : 0.36 5.70 0.01 3.50 2.27 0.30 EU-27 Jan : 0.20 2.68 0.92 3.38 0.23 0.19 Feb : 0.20 2.68 0.92 3.38 0.23 0.18 Major importers 4/ : January : 0.46 8.20 4.25 12.44 0.06 0.42 February : 0.46 8.20 4.15 12.46 0.06 0.29 China Jan : 0.25 6.80 2.80 9.60 0.04 0.21 Feb : 0.25 6.80 3.00 9.79 0.05 0.21 India Jan : 0.21 1.40 1.40 2.78 0.02 0.21 Feb : 0.21 1.40 1.10 2.62 0.01 0.08 Pakistan Jan : 0.00 0.01 0.05 0.06 0.00 0.00 Feb : 0.00 0.01 0.05 0.06 0.00 0.00 =============================================================================== 1/ Data based on local marketing years except for Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil and EU. 4/ India, China and Pakistan. WASDE-455-31 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 2006 : Annual : 26153 21055 47540 35752 5686 41943 89483 7572 181.8 : 2007 : I : 6235 5396 11720 8574 1410 10099 21819 1861 46.0 II : 6649 5128 11856 9021 1473 10622 22478 1865 47.4 III : 6801 5255 12128 9106 1489 10723 22851 1877 46.1 IV : 6730 6163 12973 9248 1565 10940 23913 1914 46.0 Annual : Jan Est : 26410 21939 48667 35876 5902 42279 90946 7518 185.6 Feb Est : 26415 21942 48677 35949 5937 42384 91061 7517 185.6 : 2008 : I *: 6190 5825 12100 8950 1465 10535 22635 1870 48.0 II *: 6700 5500 12279 9350 1525 11005 23284 1885 49.0 III *: 7000 5575 12653 9350 1530 11010 23663 1915 47.0 IV *: 6410 6145 12637 9325 1570 11025 23662 1945 46.7 Annual : Jan Proj : 26100 22750 49176 36850 5940 43300 92476 7625 190.0 Feb Proj : 26300 23045 49669 36975 6090 43575 93244 7615 190.6 =============================================================================== * Projection. 1/ Commercial production for red meats; federally inspected for poultry meats. 2/ Beef, pork, veal and lamb & mutton. 3/ Broilers, turkeys and mature chicken. U.S. Quarterly Prices for Animal Products 1/ =============================================================================== Year : Choice : Barrows : : : : : and : steers :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 2006 : Annual : 85.41 47.26 64.4 77.0 71.8 12.90 : 2007 : I : 90.61 46.04 75.0 69.7 105.3 15.00 II : 93.45 52.55 80.3 77.9 92.0 18.27 III : 91.36 50.33 79.2 89.9 119.1 21.67 IV : 91.85 39.43 71.1 90.8 141.0 21.60 Annual : Jan Est : 91.82 47.09 76.4 82.1 114.4 19.15 Feb Est : 91.82 47.09 76.4 82.1 114.4 19.13 : 2008 : I *: 89-91 38-40 74-76 74-76 133-137 19.10-19.40 II *: 89-95 43-45 75-79 75-79 112-118 16.45-17.05 III *: 87-95 43-47 74-80 78-84 91-99 15.45-16.35 IV *: 86-94 38-42 70-76 82-88 92-100 16.35-17.35 Annual : Jan Proj : 88-95 41-44 72-76 75-81 101-108 17.90-18.70 Feb Proj : 88-94 41-43 73-78 77-82 107-114 16.85-17.55 =============================================================================== *Projection. 1/ Simple average of months. 2/ Nebraska, Direct, 1100-1300 lbs. 3/ National Base, Live equiv 51-52% lean. 4/ Wholesale, 12-city average. 5/ 8-12 lbs, hens Eastern Region. 6/ Grade A large, New York, volume buyers. 7/ Prices received by farmers for all milk. WASDE-455-32 U.S. Meats Supply and Use ============================================================================ : Supply : Use :--------------------------------------------------------- : : : : : : : Disappearance : : Pro- : : : : :--------------- : Beg- : duc- : : : : End- : : Per Item :inning: tion : Im- :Total : Ex- : ing : :capita :stocks: 1/ :ports :supply: ports:stocks:Total : 2/ 3/ ============================================================================ : Million pounds 4/ BEEF : 2006 : 571 26258 3085 29914 1145 630 28139 65.8 2007 Est. Jan : 630 26515 3160 30305 1404 600 28302 65.5 Feb : 630 26520 3048 30198 1431 631 28137 65.2 2008 Proj. Jan : 600 26205 3340 30145 1710 600 27835 63.8 Feb : 631 26405 3120 30156 1670 600 27886 64.0 : PORK : 2006 : 494 21075 990 22559 2995 514 19050 49.4 2007 Est. Jan : 514 21959 999 23472 3144 560 19768 50.7 Feb : 514 21962 986 23462 3179 541 19742 50.7 2008 Proj. Jan : 560 22770 985 24315 3685 565 20065 51.0 Feb : 541 23065 965 24571 3685 565 20321 51.7 : TOTAL RED MEAT 5/ : 2006 : 1080 47679 4265 53024 4158 1166 47700 116.7 2007 Est. Jan : 1166 48805 4356 54327 4559 1178 48590 117.6 Feb : 1166 48815 4227 54208 4621 1192 48395 117.4 2008 Proj. Jan : 1178 49314 4525 55017 5405 1182 48430 116.3 Feb : 1192 49807 4285 55284 5365 1182 48737 117.3 : BROILERS : 2006 : 924 35369 47 36340 5205 745 30389 87.2 2007 Est. Jan : 745 35492 61 36298 5701 675 29921 84.9 Feb : 745 35564 61 36370 5801 741 29827 84.8 2008 Proj. Jan : 675 36456 60 37191 5775 750 30666 86.2 Feb : 741 36579 60 37380 5900 680 30800 86.8 : TURKEYS : 2006 : 206 5612 12 5829 547 218 5065 16.9 2007 Est. Jan : 218 5825 10 6053 562 235 5256 17.4 Feb : 218 5859 10 6088 562 239 5286 17.5 2008 Proj. Jan : 235 5862 12 6109 605 275 5229 17.1 Feb : 239 6010 12 6261 605 275 5381 17.7 : TOTAL POULTRY 6/ : 2006 : 1132 41485 61 42678 5911 969 35799 105.3 2007 Est. Jan : 969 41817 74 42860 6433 914 35513 103.4 Feb : 969 41921 74 42963 6533 982 35449 103.4 2008 Proj. Jan : 914 42827 75 43816 6530 1031 36255 104.5 Feb : 982 43099 75 44156 6655 961 36540 105.6 : RED MEAT & POULTRY: 2006 : 2212 89164 4326 95702 10069 2135 83499 222.0 2007 Est. Jan : 2135 90622 4430 97187 10992 2092 84103 221.0 Feb : 2135 90736 4301 97172 11154 2174 83844 220.8 2008 Proj. Jan : 2092 92141 4600 98833 11935 2213 84685 220.8 Feb : 2174 92906 4360 99440 12020 2143 85277 222.9 ============================================================================ 1/ Total including farm production for red meats and, for poultry, federally inspected plus non-federally inspected, less condemnations. 2/ Pounds, retail-weight basis. 3/ Population source: Dept. of Commerce, Census Bureau. 4/ Carcass weight for red meats and certified ready-to-cook weight for poultry. 5/ Beef, pork, veal, lamb and mutton. 6/ Broilers, turkeys and mature chicken. WASDE-455-33 U.S. Egg Supply and Use =============================================================================== : : : 2007 Estimated : 2008 Projected : : :-----------------:------------------ Commodity : 2005 : 2006 : Jan : Feb : Jan : Feb =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 14.5 16.0 12.5 12.5 13.0 10.8 Production : 7509.0 7572.0 7518.0 7517.0 7625.0 7615.0 Imports : 12.9 10.8 14.6 14.6 14.0 14.0 Total supply : 7536.4 7598.8 7545.1 7544.1 7652.0 7639.8 : Use : Exports : 203.3 202.1 245.6 245.6 230.0 230.0 Hatching use : 999.8 994.0 1012.1 1015.8 1030.0 1040.0 Ending stocks : 16.0 12.5 13.0 10.8 12.0 12.0 Disappearance : Total : 6317.3 6390.2 6274.4 6271.9 6380.0 6357.8 Per capita (number) : 255.8 256.3 248.8 249.1 250.6 250.2 =============================================================================== U.S. Milk Supply and Use =============================================================================== : : : 2007 Estimated : 2008 Projected Commodity : : :-----------------:------------------ : 2005 : 2006 : Jan : Feb : Jan : Feb =============================================================================== : Billion pounds Milk : Production : 176.9 181.8 185.6 185.6 190.0 190.6 Farm use : 1.1 1.1 1.1 1.1 1.1 1.1 : Fat Basis Supply : Beg. commercial stocks : 7.2 8.0 9.5 9.5 9.9 10.4 Marketings : 175.8 180.7 184.5 184.5 188.8 189.5 Imports : 5.0 5.0 4.8 4.8 4.7 4.7 Total cml. supply : 187.9 193.6 198.8 198.7 203.4 204.6 : Fat Basis Use : Ending commercial stks : 8.0 9.5 9.9 10.4 9.3 10.5 CCC net removals 1/ : 0.0 0.0 0.0 0.0 0.0 0.0 Commercial use 2/ : 179.9 184.1 188.9 188.4 194.1 194.1 : Skim-solids Basis Supply : Beg. commercial stocks : 8.2 9.0 9.1 9.1 9.7 9.8 Marketings : 175.8 180.7 184.5 184.5 188.8 189.5 Imports : 4.8 4.8 4.5 4.5 4.4 4.4 Total cml. supply : 188.8 194.4 198.1 198.1 203.0 203.8 : Skim-solids Basis Use : Ending commercial stks : 9.0 9.1 9.7 9.8 9.3 10.2 CCC net removals 1/ : -1.0 0.7 0.0 0.0 0.0 0.0 Commercial use 2/ : 180.8 184.5 188.4 188.2 193.7 193.6 : : Million pounds CCC product net removals 1: Butter : 0 0 0 0 0 0 Cheese : -2 0 0 0 0 0 Nonfat dry milk : -81 64 0 0 0 0 Dry whole milk : 0 0 0 0 0 0 =============================================================================== Note: Totals may not add due to rounding. 1/ Includes products exported under the Dairy Export Incentive Program. 2/ Includes commercial exports. WASDE-455-34 U.S. Dairy Prices ============================================================================ : : : 2007 Estimated : 2008 Projected : : :-----------------:------------------ Commodity : 2005 : 2006 : Jan : Feb : Jan : Feb ============================================================================ : Dollars per pound : Product Prices 1/ : Cheese : 1.4875 1.2470 1.7380 1.7380 1.645- 1.635- : 1.725 1.705 : Butter : 1.5405 1.2193 1.3441 1.3441 1.195- 1.185- : 1.305 1.285 : Nonfat dry milk : 0.9409 0.8928 1.7083 1.7083 1.580- 1.380- : 1.640 1.440 : Dry whey : 0.2782 0.3285 0.6004 0.6004 0.430- 0.335- : 0.460 0.365 : : Dollars per cwt Milk Prices 2/ : Class III : 14.05 11.89 18.04 18.04 16.15- 15.45- : 16.95 16.15 : Class IV : 12.87 11.06 18.36 18.36 16.80- 15.05- : 17.70 15.85 : All milk 3/ : 15.13 12.90 19.15 19.13 17.90- 16.85- : 18.70 17.55 : ============================================================================ 1/ Simple average of monthly prices calculated by AMS from NASS weekly average dairy product prices for class price computations. Details may be found at http://www.ams.usda.gov/dyfmos/mib/fedordprc_dscrp.htm. 2/ Annual Class III and Class IV prices are the simple averages of monthly minimum Federal order milk prices paid by regulated plants for milk used in the respective classes. All milk price is the simple average of monthly prices received by farmers for milk at average test. 3/ Does not reflect any deductions from producers as authorized by legislation. WASDE-455-35 Note: Tables on pages 35-37 present a 26-year record of the differences between the February projection and the final estimate. Using world wheat production as an example, changes between the February projection and the final estimate have averaged 2.2 million tons (0.4%) ranging from -7.3 to 6.8 million tons. The February projection has been below the estimate 19 times and above 7 times. Reliability of February Projections =============================================================================== :Differences between proj. & final estimate,1981/82-2006/07 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== WHEAT :Percent Million metric tons Number of years 2/ Production : World : 0.4 2.2 -7.3 6.8 19 7 U.S. : 0.1 0.1 -0.2 0.1 11 6 Foreign : 0.5 2.2 -7.3 6.8 19 7 Exports : World : 2.8 3.2 -10.9 5.0 18 8 U.S. : 3.2 1.0 -1.4 3.0 13 13 Foreign : 3.8 3.1 -9.5 4.1 21 5 Domestic use : World : 0.8 4.1 -9.7 9.1 12 14 U.S. : 3.1 0.9 -2.4 2.4 10 16 Foreign : 0.7 3.7 -8.2 8.5 13 13 Ending stocks : World : 3.4 4.4 -11.4 7.8 17 9 U.S. : 7.0 1.4 -4.4 3.2 16 10 Foreign : 3.8 3.8 -10.4 9.1 16 10 : COARSE GRAINS 3/ : Production : World : 0.9 8.1 -19.8 7.3 20 6 U.S. : 0.1 0.1 -0.2 1.3 12 6 Foreign : 1.3 8.1 -19.8 7.3 18 7 Exports : World : 3.8 4.0 -10.4 13.8 20 6 U.S. : 7.6 3.9 -8.7 12.2 12 14 Foreign : 6.8 3.7 -12.6 7.2 17 9 Domestic use : World : 0.9 7.9 -16.2 28.9 13 13 U.S. : 2.4 4.5 -17.3 11.5 12 14 Foreign : 1.0 6.8 -12.9 22.2 17 9 Ending stocks : World : 7.7 10.7 -29.9 16.4 21 5 U.S. : 9.9 5.4 -16.9 18.5 15 11 Foreign : 9.4 7.9 -28.2 11.2 21 5 : RICE, milled : Production : World : 1.2 4.3 -14.0 1.9 19 7 U.S. : 1.1 0.1 -0.3 0.2 11 4 Foreign : 1.3 4.3 -14.0 1.8 19 7 Exports : World : 6.7 1.3 -5.2 1.3 21 5 U.S. : 6.4 0.2 -0.6 0.3 14 10 Foreign : 7.5 1.2 -5.0 1.2 20 6 Domestic use : World : 1.0 3.3 -12.8 2.3 18 8 U.S. : 5.4 0.2 -0.4 0.4 11 15 Foreign : 1.0 3.3 -13.0 2.5 18 8 Ending stocks : World : 6.9 3.5 -13.9 4.0 19 7 U.S. : 16.9 0.2 -0.5 0.4 13 13 Foreign : 7.2 3.5 -13.8 4.0 19 6 =============================================================================== 1/ Footnotes at end of table. CONTINUED WASDE-455-36 Reliability of February Projections (Continued) =============================================================================== :Differences between proj. & final estimate,1981/82-2006/07 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== SOYBEANS :Percent Million metric tons Number of years 2/ Production : World : 2.1 3.3 -7.4 15.3 17 9 U.S. : 0.9 0.5 -1.6 1.8 10 11 Foreign : 3.8 3.1 -7.4 14.8 19 7 Exports : World : 4.6 2.0 -7.0 12.0 16 10 U.S. : 5.4 1.2 -2.9 3.7 16 10 Foreign : 13.5 2.0 -5.9 11.6 13 13 Domestic use : World : 1.9 2.6 -5.4 10.9 16 10 U.S. : 2.4 1.0 -3.0 2.4 19 7 Foreign : 2.3 2.2 -4.2 12.5 16 10 Ending stocks : World : 11.6 2.9 -6.8 19.3 16 10 U.S. : 21.8 1.7 -3.4 5.0 7 19 Foreign : 14.6 2.7 -6.7 14.2 18 8 : COTTON : Million 480-pound bales Production : World : 1.8 1.7 -5.4 2.8 20 6 U.S. : 0.6 0.1 -0.2 0.3 10 15 Foreign : 2.3 1.7 -5.7 2.7 20 6 Exports : World : 3.6 1.0 -3.5 2.3 15 11 U.S. : 7.3 0.5 -1.6 1.5 13 12 Foreign : 4.1 0.8 -3.5 1.0 15 11 Mill use : World : 1.7 1.5 -6.0 1.3 15 11 U.S. : 3.6 0.3 -0.9 0.8 18 7 Foreign : 1.8 1.4 -5.5 1.6 16 10 Ending stocks : World : 7.7 2.8 -7.9 7.9 15 10 U.S. : 13.7 0.7 -1.5 2.1 8 18 Foreign : 8.4 2.8 -6.7 7.4 16 10 =============================================================================== 1/ Final estimate for 1981/82-2006/07 is defined as the first November estimate following the marketing year. 2/ May not total 26 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. WASDE-455-37 Reliability of United States February Projections 1/ =============================================================================== :Differences between proj. & final estimate,1981/82-2006/07 2/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== CORN :Percent Million bushels Number of years 3/ Production : 0.0 2 -8 38 2 1 Exports : 7.9 139 -379 384 11 15 Domestic use : 2.5 157 -474 424 13 13 Ending stocks : 11.8 213 -635 838 17 9 : SORGHUM : Production : 0.0 0 0 4 0 2 Exports : 12.6 29 -90 97 16 9 Domestic use : 8.4 36 -178 100 11 15 Ending stocks : 29.1 30 -69 148 10 16 : BARLEY : Production : 0.3 1 -3 11 11 4 Exports : 13.8 7 -35 23 9 15 Domestic use : 5.0 18 -38 70 12 12 Ending stocks : 8.8 14 -52 24 17 8 : OATS : Production : 0.1 0 -2 1 4 3 Exports : 26.6 1 -1 3 5 5 Domestic use : 3.0 11 -26 36 13 13 Ending stocks : 9.8 12 -47 21 14 12 : : Thousand short tons SOYBEAN MEAL : Production : 2.2 733 -2328 765 20 6 Exports : 7.7 539 -1900 941 19 7 Domestic use : 1.9 496 -1256 866 17 9 Ending stocks : 29.8 74 -214 208 12 13 : : Million pounds SOYBEAN OIL : Production : 2.3 350 -1173 365 19 7 Exports : 15.6 236 -700 814 13 13 Domestic use : 1.8 239 -735 329 18 7 Ending stocks : 15.7 255 -692 415 15 11 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 2.7 664 -1367 1613 17 7 Pork : 2.5 428 -1240 1717 16 8 Broilers : 1.5 332 -729 484 16 8 Turkeys : 2.0 91 -206 161 13 11 : : Million dozen Eggs : 1.2 77 -127 169 14 9 : : Billion pounds Milk : 1.3 1.9 -4.9 5.7 13 11 =============================================================================== 1/ See pages 35 and 36 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-2006/07 is defined as the first November estimate following the marketing year. 3/ May not total 26 for crops and 24 for animal production if projection was the same as the final estimate. 4/ Calendar years 1983 thru 2006 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS. --------- End of File -----------