ISSN: 1554-9089 WASDE-429 December 9, 2005 Note: Beginning February 7, 2006, there will be three ways to access the World Agricultural Supply and Demand Estimates (WASDE) report: http://www.usda.gov/oce/commodity/wasde PDF File: http://www.usda.gov/oce/commodity/wasde/latest.pdf Text File: http://www.usda.gov/oce/commodity/wasde/latest.txt WHEAT: No changes are made to projected U.S. 2005/06 all wheat production, imports, domestic use, and exports; leaving ending stocks at 530 million bushels. Relative to last month, Hard Red Winter (HRW) wheat exports are up 5 million bushels, while Durum exports are down 5 million. HRW and Hard Red Spring (HRS) domestic use are lowered 3 and 2 million bushels respectively, but Durum domestic use is up 5 million. Ending stocks of HRW fall 2 million bushels to 173 million, 20 million less than the previous year. HRS ending stocks rise 2 million to 121 million bushels, but are 38 million less than the previous year. The projected 2005/06 price range is $3.25 to $3.50 per bushel, down 5 cents on the upper end from last month, compared with $3.40 for 2004/05. Global wheat production in 2005/06 is up nearly 5 million tons from last month; consumption rises nearly 2 million; exports and imports increase slightly; and ending stocks increase nearly 4 million. Foreign production rises due primarily to larger crops in Australia, Canada, China, Uzbekistan, and Kazakhstan. Projected global imports are up fractionally due to larger imports by Pakistan, Brazil, South Africa, and the Philippines. Imports by China are down 0.5 million tons to just 2 million, well below the previous year's imports of 6.75 million. Forecast exports rise for Australia, Canada, and Brazil but fall for Syria. Consumption is up in a number of countries, with the largest month-to-month increases occurring in Pakistan, Brazil, Australia, Canada, and Uzbekistan. Due mostly to higher ending stocks in Australia, Canada, China, and Kazakhstan, global 2005/06 wheat ending stocks rise to 143.4 million tons, up 3.8 million from last month, but down nearly 7 million from the previous year. COARSE GRAINS: Projected 2005/06 U.S. corn stocks rise from last month due to a drop in exports. No changes are made to projected U.S. 2005/06 corn production, imports, or domestic use. Corn exports are down 100 million bushels from last month due primarily to increased corn exports by China and Ukraine. Corn ending stocks are up 100 million bushels to 2,418 million, 307 million higher than the previous year. The projected 2005/06 price range for corn is $1.60 to $2.00 per bushel, unchanged from last month, compared with $2.06 for 2004/05. Projected 2005/06 U.S. grain sorghum stocks rise from last month due to a drop in exports. No changes are made to projected U.S. 2005/06 grain sorghum production, imports, or domestic use. Grain sorghum exports are 170 million bushels, down 10 million bushels from last month due to smaller-than- expected purchases by Mexico and the smallest in over 30 years. Grain sorghum ending stocks are up 10 million bushels to 60 million bushels, 3 million higher than the previous year. Grain sorghum prices in 2005/06 are projected to average $1.45 to $1.85, unchanged from last month, compared with $1.79 for 2004/05. Projected 2005/06 barley imports decline 5 million bushels from last month while exports increase 5 million. Barley ending stocks fall 10 million bushels to 101 million, 27 million less than the previous year. This month, the projected range of barley prices is narrowed 5 cents on each end to $2.35 to $2.55, compared to $2.48 for 2004/05. Projected 2005/06 oat imports decline 10 million bushels from last month and ending stocks fall 10 million bushels to 46 million, 12 million less than the previous year. This month, the projected range of oat prices is narrowed 5 cents on each end to $1.50 to $1.60, compared to $1.48 for 2004/05. The outlook for global coarse grains in 2005/06 is for larger production, increased consumption, slight changes in trade, and higher stocks relative to last month. Foreign production is up 7.4 million tons with the largest increases projected in China, Canada, and Australia. These gains are partially offset by smaller crops in South Africa and Kazakhstan. Foreign 2005/06 coarse grain consumption is up 3.2 million tons with large increases projected in Canada, Morocco, Iraq, and Iran as well as other countries. Consumption falls in Mexico and Kazakhstan. Global 2005/06 imports are little changed from last month. Imports are projected down for Canada and Mexico but up for Iran, Morocco, and several other countries. Global 2005/06 exports are up nearly 1 million tons from last month with large increases projected for China and Australia. In addition to the lower projected exports from the United States, exports decline for South Africa, Iraq, and Kazakhstan. Global 2005/06 ending stocks rise 5.4 million tons from last month with foreign stocks up nearly 3 million. The largest increases in foreign stocks occur in China, Canada, Australia, Romania, and Ukraine. Stock declines are projected for South Africa, Morocco, India, and several other countries. RICE: Only minor changes are made to the U.S. 2005/06 rice supply and use projections from a month ago. On the supply side, imports are lowered 1 million cwt to 14 million cwt, due to a slower-than-expected import pace early in the marketing year. No changes are made on the use side. As a result, ending stocks are lowered 1 million cwt to 25.2 million cwt, which are down 12.5 million cwt from a year earlier. The season-average farm price is lowered 10 cents per cwt on each end to $7.65 to $7.95 per cwt and compares to $7.33 per cwt in 2004/05. Global 2005/06 rice production, imports, and ending stocks are raised from last month, while consumption and exports are nearly unchanged from a month ago. The increase in global rice production is due to larger crops projected for Australia, Pakistan, Thailand, and Turkey. Global imports are raised due primarily to increases for Indonesia, Malaysia, and Nigeria while imports for the United States were reduced slightly. Global exports are raised slightly from a month ago with increases for Australia, Pakistan, and South Korea nearly offset by a reduction for Thailand. World rice ending stocks for 2005/06 are projected at 65.8 million tons, up 1.2 million tons from last month, but down 7.1 million tons from 2004/05, and the lowest stocks since 1982/83. OILSEEDS: Total U.S. oilseed production is projected at 95.1 million tons, up slightly due to increased cottonseed production. Soybean exports are reduced 55 million bushels to 1,020 million bushels as competition from South American soybean exports continues to limit U.S. trade prospects, especially to EU-25 and China. U.S. export commitments (shipments plus outstanding sales) through early December are at the lowest level since 1998. With projected soybean crush unchanged, 2005/06 ending stocks are increased to 405 million bushels. Although soybean crush is unchanged, soybean oil production and ending stocks are raised based on a sharply higher oil extraction rate. U.S. season-average soybean prices for 2005/06 are projected at $5.00 to $5.70 compared with $4.95 to $5.75 last month. Soybean meal prices are unchanged at $155 to $180 per short ton. Soybean oil prices are projected at 20.5 to 23.5 cents per pound, down 1.5 cents on each end of the range. Global oilseed production for 2005/06 is projected at 387.0 million tons, up 1.7 million tons from last month. Foreign oilseed production accounts for most of the change with increases for rapeseed, sunflowerseed, and soybeans more than offsetting reductions for cottonseed. Canadian rapeseed production is raised 1.2 million tons to a record 9.7 million tons, based on the latest survey results from Statistics Canada. Canada's soybean crop is also increased this month based on the survey. Ukraine sunflowerseed production is increased 0.3 million tons to 4.6 million tons reflecting increased harvested area and yields. Other changes include higher rapeseed production for Australia and reduced cottonseed production for India. Global oilseed trade is little changed this month with reduced U.S. soybean exports largely offset by increases for Brazil. Global oilseed ending stocks for 2005/06 are raised primarily due to increased soybean stocks in the United States and increased rapeseed stocks in Canada. SUGAR: Projected U.S. sugar supply for 2005/06 is increased 728,000 short tons, raw value, from last month. Production is increased 146,000 tons, mainly due to higher beet sugar production, based on processors' reports compiled by the Farm Service Agency. Imports are increased 590,000 tons, mostly due to higher tariff rate quota (TRQ) imports. Shortfall in filling the TRQ is increased 15,000 tons. Imports of high-tier sugar from Mexico are increased 130,000 tons while other non-program imports are increased 25,000 tons. Use is unchanged and ending stocks are increased to 1.4 million tons, or 13.4 percent of use. For 2004/05, revisions to preliminary year-end data from processors result in supply increasing 35,000 tons and use increasing 43,000 tons. Ending stocks are decreased to 1.35 million tons, or 12.8 percent of use. LIVESTOCK, POULTRY, AND DAIRY: NOTE: Due to uncertainties as to the length of the bans on trade in ruminants and ruminant products because of the discovery of BSE in the United States and Canada, forecasts for 2005 and 2006 assume a continuation of policies currently in place among U.S. trading partners. Subsequent forecasts will reflect any announced changes. The total U.S. meat production forecasts for 2005 and 2006 are little changed from last month. Beef production is forecast fractionally lower in the fourth quarter because of the continued slow pace of cattle slaughter. But the decline in beef output is limited by heavier average carcass weights. In 2006, beef production is raised slightly as marketings pick up in the first quarter. Pork and poultry meat production forecasts are unchanged in both 2005 and 2006. Forecast beef imports in 2005 are reduced because shipments from Oceania are expected to be lower than forecast last month. Beef imports in 2006 are lowered to reflect a continued slow pace of shipments. Beef exports in 2005 and 2006 are raised due to expected increased shipments to markets currently open to U.S. beef. This beef forecast still assumes that Asian markets, particularly Japan and Korea, remain closed to U.S. beef. Pork exports in 2005 are reduced slightly. Broiler exports in 2005 are reduced because third quarter shipments were lower than expected. Forecast cattle prices for the fourth quarter 2005 are increased as supplies of Choice grade cattle remain tight. Prices in the first half of 2006 are also raised as cattle supplies remain relatively tight into 2006. The hog price for 2005 is increased because of recent stronger prices. This strength is expected to continue into next year, resulting in a slightly higher first quarter price. Broiler prices in 2005 and 2006 are reduced as current broiler prices have weakened. Forecast milk production for 2005 and 2006 is slightly lower than last month. Compared with last month's forecast, the herds are reduced marginally, and the milk per cow growth rate is slightly lower. Relatively large supplies of butter are pressuring butter prices and forecast prices are reduced to reflect further pressure through early 2006. Cheese, nonfat dry milk, and whey price forecasts are raised from last month as demand is expected to remain firm. Class IV prices are lowered in 2005 but the Class III price is unchanged. The forecast for both 2006 Class III and Class IV prices are raised from last month. The all milk price for 2005 is forecast lower at $15.10 to $15.20 per cwt, but the 2006 forecast is raised to $13.35 to $14.15 per cwt. COTTON: This month's U.S. forecasts for 2005/06 include higher production, exports, and ending stocks compared with last month. Production is raised 2 percent to a record 23.7 million bales, due mainly to increases for Texas and Georgia. Domestic mill use is unchanged and exports are raised 200,000 bales to a record 16.4 million bales. Ending stocks are raised 6 percent to 6.9 million bales. The world 2005/06 forecasts include modest increases in all categories. Beginning stocks are raised for India and Pakistan, due to prior year adjustments. World production is slightly higher, as increases for the United States, Pakistan, Australia, Syria, and Burkina Faso more than offset reductions for India, Turkey, and others. Consumption is raised mainly in China, based on recent yarn production. World trade is also raised slightly as higher imports by China and Turkey are partially offset by lower imports by Pakistan. World ending stocks are forecast 1.5 percent above last month. Approved by the 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. Committee members are listed on page 32. APPROVED: MIKE JOHANNS SECRETARY OF AGRICULTURE The next issue of this report will be released at 8:30 a.m. ET on January 12, 2006. In 2006, the WASDE report will be released on February 9, March 10, April 10, May 12, June 9, July 12, August 11, September 12, October 12, November 9, and December 11. 2006 Agricultural Outlook Forum: Prospering in Rural America USDA invites you to attend the 2006 Agricultural Outlook Forum, February 16-17, 2006, in Arlington, Virginia. Among the Forum's speakers are Secretary Mike Johanns and other top officials, industry analysts, business leaders, farmers and ranchers, and experts in agriculture. The Forum offers more than 130 speakers along with numerous networking opportunities 1,500 people are expected to attend. For more information, visit: http://www.usda.gov/oce/forum WASDE-429-6 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/ : 2003/04 : 1,858.97 2,302.46 240.28 1,948.66 353.80 2004/05 (Est.) : 2,036.94 2,390.74 238.53 1,994.94 395.80 2005/06 (Proj.) : November : 1,962.87 2,356.50 234.64 2,002.92 353.58 December : 1,975.79 2,371.60 236.27 2,007.60 363.99 Wheat : 2003/04 : 554.59 720.70 109.38 588.48 132.22 2004/05 (Est.) : 626.63 758.85 110.45 608.75 150.10 2005/06 (Proj.) : November : 610.58 759.76 109.29 620.23 139.53 December : 615.33 765.43 110.09 622.08 143.35 Coarse grains 4/ : 2003/04 : 912.87 1,079.93 103.49 944.50 135.42 2004/05 (Est.) : 1,008.24 1,143.66 100.68 970.84 172.82 2005/06 (Proj.) : November : 946.22 1,117.88 100.00 968.48 149.40 December : 953.63 1,126.46 100.76 971.64 154.82 Rice, milled : 2003/04 : 391.51 501.83 27.41 415.67 86.15 2004/05 (Est.) : 402.07 488.22 27.40 415.35 72.88 2005/06 (Proj.) : November : 406.07 478.86 25.35 414.21 64.65 December : 406.83 479.71 25.41 413.88 65.82 : : United States Total grains 3/ : 2003/04 : 345.33 395.10 88.59 262.12 44.40 2004/05 (Est.) : 385.60 434.53 83.76 276.10 74.67 2005/06 (Proj.) : November : 360.67 440.15 87.02 274.45 78.68 December : 360.67 439.84 84.34 274.42 81.08 Wheat : 2003/04 : 63.81 78.90 31.52 32.51 14.87 2004/05 (Est.) : 58.74 75.53 28.92 31.91 14.70 2005/06 (Proj.) : November : 57.11 73.98 27.22 32.33 14.43 December : 57.11 73.98 27.22 32.33 14.43 Coarse grains 4/ : 2003/04 : 275.10 308.48 53.75 225.96 28.76 2004/05 (Est.) : 319.45 350.41 51.30 240.35 58.76 2005/06 (Proj.) : November : 296.56 357.47 55.96 238.10 63.41 December : 296.56 357.19 53.28 238.07 65.84 Rice, milled : 2003/04 : 6.42 7.73 3.31 3.66 0.76 2004/05 (Est.) : 7.40 8.59 3.54 3.84 1.21 2005/06 (Proj.) : November : 7.01 8.69 3.84 4.02 0.83 December : 7.01 8.66 3.84 4.02 0.80 =============================================================================== 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-429-7 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/ : 2003/04 : 1,513.64 1,907.35 151.70 1,686.54 309.40 2004/05 (Est.) : 1,651.35 1,956.21 154.77 1,718.84 321.14 2005/06 (Proj.) : November : 1,602.20 1,916.35 147.62 1,728.47 274.90 December : 1,615.12 1,931.76 151.93 1,733.18 282.92 Wheat : 2003/04 : 490.78 641.80 77.86 555.97 117.35 2004/05 (Est.) : 567.89 683.32 81.53 576.84 135.40 2005/06 (Proj.) : November : 553.47 685.78 82.08 587.90 125.10 December : 558.22 691.45 82.88 589.75 128.92 Coarse grains 5/ : 2003/04 : 637.77 771.45 49.74 718.55 106.66 2004/05 (Est.) : 688.79 793.25 49.38 730.49 114.07 2005/06 (Proj.) : November : 649.66 760.41 44.04 730.38 85.99 December : 657.08 769.26 47.48 733.57 88.98 Rice, milled : 2003/04 : 385.09 494.10 24.10 412.02 85.39 2004/05 (Est.) : 394.67 479.64 23.86 411.51 71.67 2005/06 (Proj.) : November : 399.06 470.16 21.51 410.19 63.81 December : 399.82 471.04 21.57 409.86 65.02 =============================================================================== 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 2003/04 : 95.26 137.60 33.24 98.08 40.72 2004/05 (Est.) : 120.41 161.12 34.68 108.80 51.51 2005/06 (Proj.) : November : 111.71 162.54 40.82 114.40 50.18 December : 112.28 163.80 41.30 114.85 50.92 : United States 2003/04 : 18.26 23.68 13.76 6.22 3.51 2004/05 (Est.) : 23.25 26.79 14.41 6.69 5.54 2005/06 (Proj.) : November : 23.16 28.74 16.20 6.00 6.50 December : 23.70 29.28 16.40 6.00 6.90 : Foreign 3/ 2003/04 : 77.01 113.91 19.48 91.86 37.21 2004/05 (Est.) : 97.16 134.34 20.27 102.10 45.97 2005/06 (Proj.) : November : 88.55 133.80 24.62 108.40 43.68 December : 88.58 134.52 24.90 108.85 44.02 =============================================================================== 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-429-8 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 : 2003/04 : 334.31 379.23 67.11 278.40 40.27 2004/05 (Est.) : 379.04 419.31 75.16 302.28 49.55 2005/06 (Proj.) : November : 385.33 435.00 79.52 313.80 54.23 December : 386.99 436.54 79.43 313.41 56.57 Oilmeals : 2003/04 : 189.77 195.26 58.35 189.71 4.93 2004/05 (Est.) : 205.16 210.09 59.59 204.46 4.79 2005/06 (Proj.) : November : 214.34 219.12 61.77 212.70 5.21 December : 213.82 218.61 61.39 212.55 5.07 Vegetable Oils : 2003/04 : 101.68 108.97 38.94 100.16 7.13 2004/05 (Est.) : 110.49 117.61 41.83 108.32 7.58 2005/06 (Proj.) : November : 114.38 121.96 43.53 114.06 7.36 December : 114.96 122.54 44.09 113.98 7.49 : : United States Oilseeds : 2003/04 : 76.60 82.94 25.16 45.53 4.15 2004/05 (Est.) : 95.98 100.81 30.85 50.17 8.28 2005/06 (Proj.) : November : 94.90 103.74 30.21 51.53 11.07 December : 95.08 103.92 28.74 51.60 12.62 Oilmeals : 2003/04 : 35.21 37.30 4.94 32.08 0.27 2004/05 (Est.) : 39.23 41.05 6.94 33.90 0.22 2005/06 (Proj.) : November : 39.68 41.48 6.33 34.85 0.30 December : 39.73 41.45 6.33 34.81 0.30 Vegetable Oils : 2003/04 : 8.77 11.60 0.74 10.06 0.80 2004/05 (Est.) : 9.73 12.42 0.84 10.51 1.08 2005/06 (Proj.) : November : 10.01 13.05 0.95 10.93 1.18 December : 10.23 13.25 0.95 10.92 1.38 : : Foreign 3/ Oilseeds : 2003/04 : 257.71 296.29 41.95 232.88 36.12 2004/05 (Est.) : 283.07 318.50 44.31 252.12 41.27 2005/06 (Proj.) : November : 290.42 331.26 49.31 262.26 43.16 December : 291.91 332.62 50.69 261.80 43.94 Oilmeals : 2003/04 : 154.55 157.97 53.41 157.64 4.66 2004/05 (Est.) : 165.94 169.04 52.65 170.56 4.57 2005/06 (Proj.) : November : 174.66 177.65 55.44 177.85 4.91 December : 174.10 177.17 55.05 177.74 4.77 Vegetable Oils : 2003/04 : 92.91 97.37 38.20 90.10 6.33 2004/05 (Est.) : 100.76 105.19 40.99 97.81 6.50 2005/06 (Proj.) : November : 104.36 108.90 42.59 103.13 6.18 December : 104.73 109.29 43.14 103.05 6.11 =============================================================================== 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-429-9 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :============================== : : Est. : November December =============================================================================== Area : Million acres Planted : 62.1 59.7 57.1 57.1 Harvested : 53.1 50.0 50.0 50.0 Yield per harvested : Bushels acre : 44.2 43.2 42.0 42.0 : Million bushels Beginning stocks : 491 546 540 540 Production : 2,345 2,158 2,098 2,098 Imports : 63 71 80 80 Supply, total : 2,899 2,775 2,718 2,718 Food : 912 905 910 910 Seed : 80 79 78 78 Feed and residual : 203 189 200 200 Domestic, total : 1,194 1,172 1,188 1,188 Exports : 1,158 1,063 1,000 1,000 Use, total : 2,353 2,235 2,188 2,188 Ending stocks : 546 540 530 530 CCC inventory : 61 54 40 40 Free stocks : 485 486 490 490 Outstanding loans : 37 58 55 55 Avg. farm price ($/bu) 2/ : 3.40 3.40 3.25- 3.55 3.25- 3.50 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 2004/05 (estimated) : Million bushels Beginning stocks : 227 157 64 72 26 546 Production : 856 525 380 306 90 2,158 Supply, total 3/ : 1,084 690 466 390 145 2,775 Domestic use : 503 217 256 120 76 1,172 Exports : 388 314 122 207 31 1,063 Use, total : 891 531 378 327 108 2,235 Ending stocks, total : 193 159 88 62 38 540 : 2005/06 (projected) : Beginning stocks : 193 159 88 62 38 540 Production : 925 467 309 298 100 2,098 Supply, total 3/ : 1,119 639 418 376 167 2,718 Domestic use : 506 243 248 112 79 1,188 Exports : 440 275 80 175 30 1,000 Use, total : 946 518 328 287 109 2,188 Ending stocks, total : December : 173 121 90 89 58 530 November : 175 119 90 89 58 530 =============================================================================== 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-429-10 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :============================== : : Est. : November December =============================================================================== FEED GRAINS : Area : Million acres Planted : 98.0 97.0 96.3 96.3 Harvested : 85.7 86.0 85.1 85.1 Yield per harvested : Metric tons acre : 3.21 3.71 3.48 3.48 : Million metric tons Beginning stocks : 30.9 28.7 58.7 58.7 Production : 274.9 319.2 296.4 296.4 Imports : 2.4 2.1 2.0 1.8 Supply, total : 308.2 350.0 357.1 356.9 Feed and residual : 155.7 166.2 157.1 157.1 Food, seed & industrial : 69.9 73.9 80.7 80.7 Domestic, total : 225.7 240.0 237.8 237.8 Exports : 53.8 51.3 56.0 53.3 Use, total : 279.4 291.3 293.8 291.0 Ending stocks, total : 28.7 58.7 63.4 65.8 CCC inventory : 0.0 0.0 0.0 0.0 Free stocks : 28.7 58.7 63.4 65.8 Outstanding loans : 4.4 7.2 7.7 7.7 : CORN : Area : Million acres Planted : 78.6 80.9 81.6 81.6 Harvested : 70.9 73.6 74.3 74.3 Yield per harvested : Bushels acre : 142.2 160.4 148.4 148.4 : Million bushels Beginning stocks : 1,087 958 2,112 2,112 Production : 10,089 11,807 11,032 11,032 Imports : 14 11 10 10 Supply, total : 11,190 12,776 13,154 13,154 Feed and residual : 5,795 6,164 5,875 5,875 Food, seed & industrial : 2,537 2,686 2,960 2,960 Ethanol for fuel 2/ : 1,168 1,323 1,575 1,575 Domestic, total : 8,332 8,850 8,835 8,835 Exports : 1,900 1,814 2,000 1,900 Use, total : 10,232 10,664 10,835 10,735 Ending stocks, total : 958 2,112 2,319 2,419 CCC inventory : 0 1 1 1 Free stocks : 958 2,111 2,318 2,418 Outstanding loans : 164 280 300 300 Avg. farm price ($/bu) 3/ : 2.42 2.06 1.60- 2.00 1.60- 2.00 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a further breakout of FSI corn uses including ethanol, see the Feed Outlook table 5 or access the data on the Web through the Feed Grain Data Delivery System (http://www.ers.usda.gov/db/feedgrains/). 3/ Marketing-year weighted average price received by farmers. WASDE-429-11 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :============================== : : Est. : November December =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 9.4 7.5 6.5 6.5 Area harv. (mil. acres) : 7.8 6.5 5.7 5.7 Yield (bushels/acre) : 52.7 69.8 68.2 68.2 Beginning stocks : 43 34 57 57 Production : 411 455 388 388 Imports : 0 0 0 0 Supply, total : 454 488 445 445 Feed and residual : 182 192 160 160 Food, seed & industrial : 40 55 55 55 Total domestic : 222 247 215 215 Exports : 199 184 180 170 Use, total : 421 431 395 385 Ending stocks, total : 34 57 50 60 Avg. farm price ($/bu) 2/ : 2.39 1.79 1.45- 1.85 1.45- 1.85 : BARLEY : Area planted (mil. acres) : 5.3 4.5 3.9 3.9 Area harv. (mil. acres) : 4.7 4.0 3.3 3.3 Yield (bushels/acre) : 58.9 69.6 64.8 64.8 Beginning stocks : 69 120 128 128 Production : 278 280 212 212 Imports : 21 12 15 10 Supply, total : 368 412 356 351 Feed and residual : 72 116 80 80 Food, seed & industrial : 157 145 140 140 Total domestic : 229 261 220 220 Exports : 19 23 25 30 Use, total : 248 284 245 250 Ending stocks, total : 120 128 111 101 Avg. farm price ($/bu) 2/ : 2.83 2.48 2.30- 2.60 2.35- 2.55 : OATS : Area planted (mil. acres) : 4.6 4.1 4.2 4.2 Area harv. (mil. acres) : 2.2 1.8 1.8 1.8 Yield (bushels/acre) : 65.0 64.7 63.1 63.1 Beginning stocks : 50 65 58 58 Production : 144 116 115 115 Imports : 90 88 85 75 Supply, total : 284 268 258 248 Feed and residual : 144 134 125 125 Food, seed & industrial : 73 74 74 74 Total domestic : 217 208 199 199 Exports : 2 3 3 3 Use, total : 219 210 202 202 Ending stocks, total : 65 58 56 46 Avg. farm price ($/bu) 2/ : 1.48 1.48 1.45- 1.65 1.50- 1.60 =============================================================================== 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-429-12 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :============================== : : Est. : November December =============================================================================== TOTAL : Area : Million acres Planted : 3.02 3.35 3.36 3.36 Harvested : 3.00 3.32 3.34 3.34 Yield per harvested : Pounds acre : 6,670 6,942 6,603 6,603 : : Million hundredweight : Beginning stocks 2/ : 26.8 23.7 37.7 37.7 Production : 199.9 230.8 220.7 220.7 Imports : 15.0 13.2 15.0 14.0 Supply, total : 241.7 267.7 273.4 272.4 Domestic & residual 3/ : 115.0 119.7 126.2 126.2 Exports, total 4/ : 103.1 110.4 121.0 121.0 Rough : 34.4 35.2 36.0 36.0 Milled (rough equiv.) : 68.7 75.2 85.0 85.0 Use, total : 218.0 230.0 247.2 247.2 Ending stocks : 23.7 37.7 26.2 25.2 Avg. milling yield (%) 5/ : 70.8 70.7 70.0 70.0 Avg. farm price ($/cwt) 6/ : 8.08 7.33 7.75- 8.05 7.65- 7.95 : LONG GRAIN : Harvested acres (mil.) : 2.31 2.57 Yield (pounds/acre) : 6,451 6,569 Beginning stocks : 15.7 10.3 22.7 22.7 Production : 149.0 168.9 173.2 173.2 Supply, total 7/ : 174.5 189.7 207.1 206.6 Domestic & Residual 3/ : 83.4 83.0 91.1 91.1 Exports 8/ : 80.7 84.1 97.0 97.0 Use, total : 164.2 167.0 188.1 188.1 Ending stocks : 10.3 22.7 19.1 18.6 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.69 0.75 Yield (pounds/acre) : 7,407 8,212 Beginning stocks : 9.3 12.4 13.8 13.8 Production : 50.9 61.9 47.6 47.6 Supply, total 7/ : 66.2 76.8 65.1 64.6 Domestic & Residual 3/ : 31.5 36.7 35.1 35.1 Exports 8/ : 22.3 26.3 24.0 24.0 Use, total : 53.9 63.0 59.1 59.1 Ending stocks : 12.4 13.8 6.0 5.5 =============================================================================== 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): 2003/04-1.8; 2004/05-1.0; 2005/06-1.1. 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-429-13 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :=============================== : : Est. : November December =============================================================================== SOYBEANS: : Million acres Area : Planted : 73.4 75.2 72.2 72.2 Harvested : 72.5 74.0 71.3 71.3 : : Bushels Yield per harvested : acre : 33.9 42.2 42.7 42.7 : : Million bushels : Beginning stocks : 178 112 256 256 Production : 2,454 3,124 3,043 3,043 Imports : 6 6 4 4 Supply, total : 2,638 3,242 3,303 3,303 Crushings : 1,530 1,696 1,720 1,720 Exports : 887 1,103 1,075 1,020 Seed : 92 88 90 90 Residual : 17 99 68 68 Use, total : 2,525 2,986 2,953 2,898 Ending stocks : 112 256 350 405 Avg. farm price ($/bu) 2/ : 7.34 5.74 4.95- 5.75 5.00 - 5.70 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,489 1,076 1,691 1,699 Production : 17,081 19,360 19,435 19,865 Imports : 306 26 65 65 Supply, total : 18,875 20,462 21,191 21,629 Domestic : 16,864 17,439 17,950 17,950 Exports : 936 1,324 1,350 1,350 Use, total : 17,800 18,762 19,300 19,300 Ending stocks : 1,076 1,699 1,891 2,329 Average price (c/lb) 2/ : 29.97 23.01 22.00- 20.50- : 25.00 23.50 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 220 211 172 172 Production : 36,325 40,717 40,913 40,913 Imports : 285 147 165 165 Supply, total : 36,830 41,075 41,250 41,250 Domestic : 31,449 33,563 34,300 34,300 Exports : 5,170 7,340 6,700 6,700 Use, total : 36,619 40,903 41,000 41,000 Ending stocks : 211 172 250 250 Average price ($/s.t.) 2/ : 256.05 182.89 155.00- 155.00- : 180.00 180.00 =============================================================================== 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-429-14 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :====================== : : : November December ====================================================================== : 1,000 short tons, raw value : Beginning stocks : 1,670 1,897 1,355 1,347 Production 2/ : 8,649 7,877 7,522 7,668 Beet sugar : 4,692 4,611 4,356 4,458 Cane sugar : 3,957 3,266 3,166 3,210 Florida : 2,154 1,693 1,580 1,602 Hawaii : 251 258 254 276 Louisiana : 1,377 1,157 1,152 1,152 Texas : 175 158 180 180 Imports : 1,754 2,096 2,180 2,770 TRQ 3/ : 1,230 1,404 1,705 2,140 Other program 4/ : 464 500 325 325 Other 5/ : 60 192 150 305 Supply, total : 12,073 11,870 11,057 11,785 : Exports : 288 259 175 175 Deliveries : 9,862 10,215 10,215 10,215 Food : 9,678 10,046 10,050 10,050 Other 6/ : 184 169 165 165 Miscellaneous 7/ : 26 49 0 0 Use, total : 10,176 10,523 10,390 10,390 Ending stocks : 1,897 1,347 667 1,395 Stocks to use ratio : 18.6 12.8 6.4 13.4 ====================================================================== 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 2005/06 from processor reports 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 2005/06, shortfall is 65,000 tons. 4/ Includes sugar under the re-export and polyhydric alcohol programs. 5/ Includes high-tier and other. 6/ Transfers to sugar-containing products for reexport, and for nonedible alcohol and feed. 7/ Residual statistical discrepancies. METRIC CONVERSION FACTORS 1 Hectare = 2.4710 Acres 1 Kilogram = 2.20462 Pounds --------------------------------------------------------------------- Metric-Ton Equivalent : = Domestic Unit * Factor --------------------------------------------------------------------- Wheat & Soybeans : = bushels * .027216 Rice : = cwt * .045359 Corn, Sorghum & Rye : = bushels * .025401 Barley : = bushels * .021772 Oats : = bushels * .014515 Sugar : = short tons * .907185 Cotton : = 480-lb bales * .217720 --------------------------------------------------------------------- WASDE-429-15 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :=============================== : : Est. : November December =============================================================================== : Million acres Area : Planted : 13.48 13.66 14.18 14.18 Harvested : 12.00 13.06 13.67 13.67 : : Pounds Yield per harvested : acre : 730 855 813 832 : : Million 480 pound bales : Beginning stocks 2/ : 5.39 3.51 5.54 5.54 Production : 18.26 23.25 23.16 23.70 Imports : 0.05 0.03 0.04 0.04 Supply, total : 23.69 26.79 28.74 29.28 Domestic use : 6.22 6.69 6.00 6.00 Exports : 13.76 14.41 16.20 16.40 Use, total : 19.98 21.10 22.20 22.40 Unaccounted 3/ : 0.20 0.15 0.04 -0.02 Ending stocks : 3.51 5.54 6.50 6.90 : Avg. farm price 4/ : 61.8 41.6 44.7 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-October 2005. USDA is prohibited by law from publishing cotton price projections. =============================================================================== Note: 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 2005/06 is 31.4 percent. WASDE-429-16 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2003/04 : World 3/ : 166.11 554.59 102.25 96.71 588.48 109.38 132.22 United States : 13.37 63.81 1.72 5.52 32.51 31.52 14.87 Total foreign : 152.74 490.78 100.54 91.19 555.97 77.86 117.35 Major exporters 4/ : 27.04 171.06 6.22 57.55 126.72 54.16 23.44 Argentina : 1.53 14.50 0.00 0.08 5.23 9.41 1.40 Australia : 3.14 26.13 0.07 3.23 5.96 18.03 5.36 Canada : 5.72 23.55 0.23 3.44 7.64 15.79 6.08 EU-25 5/ : 16.64 106.88 5.91 50.80 107.90 10.93 10.60 Major importers 6/ : 79.20 149.36 51.89 9.97 210.64 6.80 63.01 Brazil : 0.66 5.85 5.18 0.20 9.80 1.38 0.51 China : 60.38 86.49 3.75 6.00 104.50 2.82 43.29 Select. Mideast 7/ : 6.84 17.99 7.95 1.30 26.22 1.00 5.56 N. Africa 8/ : 5.96 16.28 15.48 0.30 30.08 0.18 7.47 Pakistan : 1.44 19.19 0.05 0.40 18.90 0.19 1.58 Southeast Asia 9/ : 1.57 0.00 10.09 1.32 9.20 0.32 2.14 Selected other : India : 15.70 65.10 0.01 0.60 68.26 5.65 6.90 FSU-12 : 16.48 60.91 7.26 17.58 65.87 7.79 10.99 Russia : 6.13 34.10 1.03 12.50 35.50 3.11 2.64 Kazakhstan : 3.67 11.00 0.01 2.70 6.80 4.11 3.78 Ukraine : 3.25 3.60 3.36 0.43 9.02 0.07 1.13 : : 2004/05 (Estimated) : World 3/ : 132.22 626.63 109.95 106.63 608.75 110.45 150.10 United States : 14.87 58.74 1.92 5.14 31.91 28.92 14.70 Total foreign : 117.35 567.89 108.03 101.49 576.84 81.53 135.40 Major exporters 4/ : 23.44 201.22 7.53 65.29 135.83 55.58 40.79 Argentina : 1.40 16.00 0.01 0.08 5.20 11.50 0.70 Australia : 5.36 22.60 0.08 3.70 6.40 14.74 6.89 Canada : 6.08 25.86 0.25 5.01 9.23 14.97 7.99 EU-25 5/ : 10.60 136.76 7.20 56.50 115.00 14.37 25.20 Major importers 6/ : 63.01 154.76 60.69 8.29 213.55 3.36 61.55 Brazil : 0.51 5.84 5.30 0.30 10.20 0.02 1.43 China : 43.29 91.95 6.75 4.00 102.00 1.17 38.82 Select. Mideast 7/ : 5.56 18.16 9.60 1.95 27.86 0.60 4.86 N. Africa 8/ : 7.47 16.62 18.41 0.30 32.63 0.22 9.64 Pakistan : 1.58 19.00 1.42 0.40 19.50 0.05 2.45 Southeast Asia 9/ : 2.14 0.00 9.77 0.91 9.35 0.37 2.19 Selected other : India : 6.90 72.06 0.02 0.50 72.76 2.12 4.10 FSU-12 : 10.99 86.43 4.59 20.80 72.70 15.19 14.11 Russia : 2.64 45.30 1.20 13.60 37.40 7.95 3.79 Kazakhstan : 3.78 9.95 0.02 2.70 7.40 2.70 3.64 Ukraine : 1.13 17.50 0.05 2.10 11.70 4.35 2.62 =============================================================================== 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-25. 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-429-17 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: =============================================================================== : : 2005/06 (Projected) World 3/ : November : 149.18 610.58 107.06 113.51 620.23 109.29 139.53 December : 150.10 615.33 107.36 114.26 622.08 110.09 143.35 United States : November : 14.70 57.11 2.18 5.44 32.33 27.22 14.43 December : 14.70 57.11 2.18 5.44 32.33 27.22 14.43 Total foreign : November : 134.48 553.47 104.88 108.07 587.90 82.08 125.10 December : 135.40 558.22 105.18 108.82 589.75 82.88 128.92 Major exporters 4/ : November : 39.85 182.77 7.54 69.08 140.10 53.50 36.56 December : 40.79 185.42 7.54 69.48 140.50 54.50 38.74 Argentina Nov : 0.70 12.10 0.01 0.08 5.20 7.00 0.62 Dec : 0.70 12.10 0.01 0.08 5.20 7.00 0.62 Australia Nov : 5.99 22.50 0.08 3.70 6.40 16.00 6.17 Dec : 6.89 24.00 0.08 3.90 6.60 16.50 7.87 Canada Nov : 7.99 25.50 0.25 4.80 9.00 16.00 8.74 Dec : 7.99 26.80 0.25 5.00 9.20 16.50 9.34 EU-25 5/ Nov : 25.16 122.67 7.20 60.50 119.50 14.50 21.04 Dec : 25.20 122.52 7.20 60.50 119.50 14.50 20.92 Major importers 6/ : November : 61.60 156.60 56.40 7.95 214.34 3.35 56.91 December : 61.55 157.60 56.50 8.30 214.99 3.45 57.21 Brazil Nov : 1.43 4.60 5.50 0.55 10.55 0.10 0.88 Dec : 1.43 4.60 5.70 0.80 10.80 0.20 0.73 China Nov : 38.82 95.00 2.50 3.50 101.00 1.00 34.32 Dec : 38.82 96.00 2.00 3.50 101.00 1.00 34.82 Sel. Mideast 7/Nov : 4.86 19.22 10.45 1.90 28.04 0.65 5.84 Dec : 4.86 19.22 10.45 1.90 28.04 0.65 5.84 N. Africa 8/ Nov : 9.67 12.92 18.60 0.30 33.33 0.21 7.65 Dec : 9.64 12.92 18.60 0.30 33.33 0.21 7.62 Pakistan Nov : 2.45 21.00 0.50 0.40 20.00 0.05 3.90 Dec : 2.45 21.00 0.80 0.40 20.30 0.05 3.90 SE Asia 9/ Nov : 2.21 0.00 9.55 0.88 9.35 0.39 2.02 Dec : 2.19 0.00 9.65 0.98 9.45 0.39 2.00 Selected other : India Nov : 4.10 72.00 1.00 0.50 73.00 0.50 3.60 Dec : 4.10 72.00 1.00 0.50 73.00 0.50 3.60 FSU-12 Nov : 14.11 91.56 3.94 23.60 75.84 19.24 14.53 Dec : 14.11 92.86 3.94 23.60 76.04 19.24 15.63 Russia Nov : 3.79 48.00 1.00 15.30 38.80 10.00 3.99 Dec : 3.79 48.00 1.00 15.30 38.80 10.00 3.99 Kazakhstan Nov : 3.64 11.00 0.02 2.70 7.40 3.50 3.76 Dec : 3.64 11.50 0.02 2.70 7.40 3.50 4.26 Ukraine Nov : 2.62 19.00 0.05 3.30 13.30 5.50 2.88 Dec : 2.62 19.00 0.05 3.30 13.30 5.50 2.88 =============================================================================== 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-25. 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-429-18 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: =============================================================================== : : 2003/04 : World 3/ : 167.06 912.87 100.66 613.76 944.50 103.49 135.42 United States : 30.94 275.10 2.44 155.79 225.96 53.75 28.76 Total foreign : 136.12 637.77 98.22 457.98 718.55 49.74 106.66 Major exporters 4/ : 7.87 70.15 2.44 33.89 46.98 22.94 10.53 Argentina : 1.04 18.60 0.05 5.00 7.36 11.33 1.00 Australia : 1.20 14.86 0.00 5.36 6.60 7.21 2.25 Canada : 3.14 26.33 2.08 19.31 23.81 3.64 4.09 Major importers 5/ : 37.94 195.13 79.03 205.22 274.32 5.50 32.29 EU-25 6/ : 21.50 122.97 8.01 101.94 135.47 4.39 12.63 Japan : 2.40 0.20 19.98 15.61 20.44 0.00 2.15 Mexico : 3.89 30.10 8.85 21.14 37.23 0.01 5.60 N. Afr & Mideast 7/: 3.77 25.73 15.74 33.69 40.22 0.35 4.68 Saudi Arabia : 2.64 0.20 8.42 8.65 8.84 0.00 2.43 Southeast Asia 8/ : 1.04 15.56 3.92 12.73 18.04 0.75 1.72 South Korea : 1.28 0.30 8.99 6.79 9.16 0.00 1.42 Selected other : China : 66.37 123.95 1.53 99.06 138.65 7.72 45.48 Other Europe : 3.09 18.84 1.34 17.20 20.79 0.36 2.12 FSU-12 : 11.98 55.37 1.46 39.22 56.56 6.09 6.16 Russia : 7.20 30.50 0.95 21.52 33.25 2.47 2.93 Ukraine : 2.65 15.60 0.14 10.50 13.80 2.77 1.82 : : 2004/05 (Estimated) : World 3/ : 135.42 1008.24 99.47 636.71 970.84 100.68 172.82 United States : 28.76 319.45 2.20 166.26 240.35 51.30 58.76 Total foreign : 106.66 688.79 97.28 470.45 730.49 49.38 114.07 Major exporters 4/ : 10.53 74.21 2.81 35.75 49.24 24.75 13.56 Argentina : 1.00 23.90 0.01 6.45 9.06 14.61 1.25 Australia : 2.25 11.66 0.00 5.56 6.79 4.96 2.16 Canada : 4.09 26.45 2.47 19.24 23.82 2.85 6.34 Major importers 5/ : 32.29 223.58 75.46 211.46 281.43 4.73 45.17 EU-25 6/ : 12.63 150.59 3.24 106.24 139.62 4.13 22.72 Japan : 2.15 0.20 19.77 15.30 20.14 0.00 1.98 Mexico : 5.60 29.56 9.00 22.08 38.24 0.01 5.90 N. Afr & Mideast 7/: 4.68 26.80 20.02 37.24 44.23 0.06 7.20 Saudi Arabia : 2.43 0.20 6.90 6.63 6.81 0.00 2.72 Southeast Asia 8/ : 1.72 15.82 3.08 12.75 18.56 0.53 1.53 South Korea : 1.42 0.34 8.79 6.70 9.04 0.00 1.52 Selected other : China : 45.48 137.93 2.01 100.20 141.21 7.62 36.59 Other Europe : 2.12 28.87 0.69 19.38 24.72 2.02 4.94 FSU-12 : 6.16 62.86 1.15 38.02 54.50 7.99 7.68 Russia : 2.93 29.55 0.73 19.00 29.35 1.09 2.77 Ukraine : 1.82 23.00 0.08 11.35 15.20 6.72 2.97 =============================================================================== 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-25, 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-429-19 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: =============================================================================== : : 2005/06 (Projected) World 3/ : November : 171.66 946.22 98.15 624.62 968.48 100.00 149.40 December : 172.82 953.63 97.84 626.11 971.64 100.76 154.82 United States : November : 58.76 296.56 2.16 157.16 238.10 55.96 63.41 December : 58.76 296.56 1.88 157.13 238.07 53.28 65.84 Total foreign : November : 112.90 649.66 95.99 467.46 730.38 44.04 85.99 December : 114.07 657.08 95.96 468.98 733.57 47.48 88.98 Major exporters 4/ : November : 12.72 65.04 2.88 35.10 49.15 22.60 8.88 December : 13.56 67.36 2.38 36.17 50.01 23.30 9.98 Argentina Nov : 1.25 21.30 0.00 6.46 9.07 12.51 0.96 Dec : 1.25 21.30 0.00 6.46 9.07 12.51 0.96 Australia Nov : 1.54 10.76 0.00 4.99 6.24 4.97 1.08 Dec : 2.16 12.06 0.00 5.14 6.39 6.17 1.65 Canada Nov : 5.80 24.46 2.56 19.24 24.32 3.60 4.90 Dec : 6.34 25.98 2.06 20.16 25.03 3.60 5.75 Major importers 5/ : November : 44.80 199.11 74.99 208.39 278.20 5.64 35.06 December : 45.17 199.30 75.39 208.94 279.10 5.68 35.08 EU-25 6/ Nov : 22.55 129.94 3.10 101.40 134.74 4.80 16.03 Dec : 22.72 130.13 3.14 101.60 134.94 4.80 16.24 Japan Nov : 1.98 0.19 19.48 15.00 19.84 0.00 1.82 Dec : 1.98 0.19 19.48 15.00 19.84 0.00 1.82 Mexico Nov : 5.94 27.48 10.54 22.98 39.40 0.01 4.56 Dec : 5.90 27.48 10.34 22.68 39.10 0.01 4.62 N Afr/M.East 7/Nov : 7.01 24.38 17.98 37.02 43.64 0.50 5.23 Dec : 7.20 24.38 18.52 37.67 44.64 0.55 4.92 Saudi Arabia Nov : 2.72 0.20 7.40 7.43 7.61 0.00 2.71 Dec : 2.72 0.20 7.40 7.43 7.61 0.00 2.71 S.-east Asia 8/Nov : 1.47 16.52 3.21 13.48 19.34 0.33 1.54 Dec : 1.53 16.52 3.21 13.48 19.34 0.33 1.59 South Korea Nov : 1.52 0.33 8.53 6.56 8.85 0.00 1.53 Dec : 1.52 0.33 8.53 6.56 8.85 0.00 1.53 Selected other : China Nov : 36.59 133.60 2.31 101.65 143.80 3.02 25.67 Dec : 36.59 137.60 2.31 101.65 143.80 6.02 26.67 Other Europe Nov : 4.88 24.38 0.77 19.41 24.69 2.00 3.34 Dec : 4.94 24.88 0.77 19.41 24.69 2.00 3.90 FSU-12 Nov : 7.67 56.17 1.10 35.18 51.80 7.86 5.27 Dec : 7.68 56.57 1.10 35.08 51.70 7.86 5.78 Russia Nov : 2.77 29.00 0.65 18.60 29.35 1.20 1.86 Dec : 2.77 29.00 0.65 18.60 29.35 1.20 1.86 Ukraine Nov : 2.97 17.67 0.09 9.10 12.57 6.18 1.98 Dec : 2.97 18.37 0.09 9.10 12.57 6.38 2.48 =============================================================================== 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-25, 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-429-20 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2003/04 : World 3/ : 123.38 623.04 76.51 444.38 646.73 77.34 99.69 United States : 27.60 256.28 0.36 147.20 211.64 48.26 24.34 Total foreign : 95.78 366.76 76.15 297.18 435.09 29.08 75.35 Major exporters 4/ : 2.97 24.70 0.25 6.88 13.08 11.67 3.18 Argentina : 0.53 15.00 0.04 2.80 4.40 10.94 0.22 South Africa : 2.44 9.70 0.22 4.08 8.68 0.73 2.96 Major importers 5/ : 13.44 82.96 49.64 91.38 130.99 1.20 13.86 Egypt : 0.20 5.74 3.74 8.00 9.50 0.00 0.18 EU-25 6/ : 4.83 39.88 5.75 36.01 46.81 0.46 3.18 Japan : 1.46 0.00 16.78 12.40 16.90 0.00 1.34 Mexico : 3.24 21.80 5.74 11.20 26.40 0.01 4.37 Southeast Asia 7/ : 1.03 15.42 3.89 12.60 17.90 0.73 1.72 South Korea : 1.28 0.07 8.78 6.61 8.72 0.00 1.42 Selected other : Brazil : 4.80 42.00 0.36 33.00 38.60 4.44 4.12 Canada : 1.11 9.60 2.03 8.83 11.23 0.37 1.14 China : 64.97 115.83 0.00 97.00 128.40 7.55 44.85 Other Europe : 2.58 15.13 0.91 14.35 16.67 0.34 1.61 FSU-12 : 1.53 11.53 0.64 9.54 11.04 1.31 1.35 Russia : 0.11 2.10 0.50 2.15 2.55 0.00 0.16 : : 2004/05 (Estimated) : World 3/ : 99.69 708.33 75.19 467.95 681.39 76.85 126.63 United States : 24.34 299.92 0.28 156.57 224.80 46.08 53.65 Total foreign : 75.35 408.41 74.92 311.38 456.59 30.77 72.97 Major exporters 4/ : 3.18 31.22 0.16 7.80 14.15 16.30 4.10 Argentina : 0.22 19.50 0.01 3.50 5.20 14.00 0.53 South Africa : 2.96 11.72 0.15 4.30 8.95 2.30 3.57 Major importers 5/ : 13.86 97.51 46.41 99.12 139.33 0.72 17.74 Egypt : 0.18 5.78 5.30 9.00 10.60 0.00 0.66 EU-25 6/ : 3.18 53.35 2.50 41.70 52.50 0.20 6.33 Japan : 1.34 0.00 16.48 12.20 16.70 0.00 1.12 Mexico : 4.37 22.63 5.92 12.60 27.90 0.01 5.01 Southeast Asia 7/ : 1.72 15.62 3.07 12.60 18.40 0.51 1.50 South Korea : 1.42 0.08 8.64 6.62 8.62 0.00 1.52 Selected other : Brazil : 4.12 35.00 0.70 33.50 38.90 0.50 0.42 Canada : 1.14 8.84 2.37 8.00 10.40 0.24 1.72 China : 44.85 130.29 0.00 98.50 131.50 7.59 36.06 Other Europe : 1.61 23.44 0.31 15.89 19.68 1.44 4.25 FSU-12 : 1.35 15.30 0.49 10.94 12.58 2.33 2.23 Russia : 0.16 3.45 0.20 3.00 3.55 0.00 0.26 =============================================================================== 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-25, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-429-21 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: =============================================================================== : : 2005/06 (Projected) World 3/ : November : 126.49 671.88 74.66 463.63 684.15 74.79 114.21 December : 126.63 677.65 74.23 464.53 685.54 74.95 118.73 United States : November : 53.65 280.23 0.25 149.23 224.42 50.80 58.91 December : 53.65 280.23 0.25 149.23 224.42 48.26 61.45 Total foreign : November : 72.83 391.65 74.40 314.40 459.73 23.99 55.30 December : 72.97 397.42 73.97 315.30 461.12 26.69 57.28 Major exporters 4/ : November : 4.39 25.30 0.20 7.90 14.30 13.50 2.09 December : 4.10 24.80 0.20 7.90 14.30 13.00 1.80 Argentina Nov : 0.53 17.30 0.00 3.70 5.40 12.00 0.43 Dec : 0.53 17.30 0.00 3.70 5.40 12.00 0.43 South Africa Nov : 3.86 8.00 0.20 4.20 8.90 1.50 1.66 Dec : 3.57 7.50 0.20 4.20 8.90 1.00 1.37 Major importers 5/ : November : 17.76 89.82 47.20 98.80 139.12 0.90 14.76 December : 17.74 89.82 47.20 98.80 139.12 0.90 14.74 Egypt Nov : 0.66 5.95 5.30 9.60 11.30 0.00 0.61 Dec : 0.66 5.95 5.30 9.60 11.30 0.00 0.61 EU-25 6/ Nov : 6.33 46.94 2.50 40.00 50.60 0.60 4.57 Dec : 6.33 46.94 2.50 40.00 50.60 0.60 4.57 Japan Nov : 1.12 0.00 16.50 12.10 16.60 0.00 1.03 Dec : 1.12 0.00 16.50 12.10 16.60 0.00 1.03 Mexico Nov : 5.09 20.50 6.70 12.90 28.40 0.01 3.89 Dec : 5.01 20.50 6.70 12.90 28.40 0.01 3.81 S.-east Asia 7/Nov : 1.44 16.32 3.20 13.30 19.15 0.30 1.51 Dec : 1.50 16.32 3.20 13.30 19.15 0.30 1.56 South Korea Nov : 1.52 0.06 8.40 6.50 8.45 0.00 1.53 Dec : 1.52 0.06 8.40 6.50 8.45 0.00 1.53 Selected other : Brazil Nov : 0.42 42.50 1.00 35.00 40.80 1.30 1.82 Dec : 0.42 42.50 1.00 35.00 40.80 1.30 1.82 Canada Nov : 1.20 8.40 2.50 8.10 10.80 0.15 1.14 Dec : 1.72 9.47 2.00 9.00 11.50 0.15 1.54 China Nov : 36.06 126.00 0.20 100.00 134.00 3.00 25.26 Dec : 36.06 130.00 0.20 100.00 134.00 6.00 26.26 Other Europe Nov : 4.19 19.82 0.41 16.31 20.10 1.60 2.72 Dec : 4.25 20.32 0.41 16.31 20.10 1.60 3.28 FSU-12 Nov : 2.22 12.45 0.41 9.88 11.53 2.12 1.43 Dec : 2.23 13.15 0.41 9.88 11.53 2.33 1.93 Russia Nov : 0.26 3.20 0.20 2.90 3.45 0.00 0.21 Dec : 0.26 3.20 0.20 2.90 3.45 0.00 0.21 =============================================================================== 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-25, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-429-22 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 : =============================================================================== : : 2003/04 World 3/ : 110.32 391.51 24.86 415.67 27.41 86.15 United States : 0.83 6.42 0.48 3.66 3.31 0.76 Total foreign : 109.49 385.09 24.38 412.02 24.10 85.39 Major exporters 4/ : 18.41 133.22 0.30 115.55 19.48 16.90 India : 11.00 88.28 0.00 85.38 3.10 10.80 Pakistan : 0.05 4.85 0.00 2.70 1.95 0.24 Thailand : 3.30 18.01 0.00 9.47 10.14 1.71 Vietnam : 4.07 22.08 0.30 18.00 4.30 4.15 Major importers 5/ : 12.34 59.35 9.37 68.14 0.37 12.55 Brazil : 0.59 8.71 0.81 8.69 0.08 1.34 EU-25 6/ : 0.96 1.72 1.02 2.51 0.23 0.97 Indonesia : 4.34 35.02 0.65 36.00 0.00 4.02 Nigeria : 1.35 2.20 1.45 4.00 0.00 1.00 Philippines : 3.81 9.20 1.29 10.25 0.00 4.05 Sel. Mideast 7/ : 0.99 2.21 2.99 5.15 0.06 0.99 Selected other : Burma : 1.23 10.73 0.00 10.20 0.13 1.63 C. Amer & Carib 8/ : 0.15 0.07 0.35 0.45 0.00 0.11 China : 67.22 112.46 1.12 135.00 0.88 44.93 Egypt : 0.87 4.03 0.00 3.22 0.83 0.85 Japan : 2.47 7.09 0.70 8.36 0.20 1.70 Mexico : 0.17 0.20 0.54 0.73 0.00 0.18 South Korea : 1.02 4.45 0.19 4.64 0.21 0.82 : : 2004/05 (Estimated) World 3/ : 86.15 402.07 25.70 415.35 27.40 72.88 United States : 0.76 7.40 0.42 3.84 3.54 1.21 Total foreign : 85.39 394.67 25.28 411.51 23.86 71.67 Major exporters 4/ : 16.90 130.03 0.30 113.84 19.15 14.24 India : 10.80 85.31 0.00 83.11 4.50 8.50 Pakistan : 0.24 5.02 0.00 2.75 2.30 0.21 Thailand : 1.71 17.07 0.00 9.48 7.25 2.05 Vietnam : 4.15 22.63 0.30 18.50 5.10 3.48 Major importers 5/ : 12.55 59.60 9.26 68.67 0.54 12.20 Brazil : 1.34 8.98 0.55 9.00 0.30 1.57 EU-25 6/ : 0.97 1.86 1.00 2.53 0.18 1.13 Indonesia : 4.02 34.25 0.50 35.85 0.00 2.92 Nigeria : 1.00 2.30 1.37 4.25 0.00 0.42 Philippines : 4.05 9.44 1.50 10.40 0.00 4.59 Sel. Mideast 7/ : 0.99 2.27 3.25 5.07 0.06 1.38 Selected other : Burma : 1.63 9.57 0.00 10.30 0.15 0.75 C. Amer & Carib 8/ : 0.11 0.07 0.40 0.47 0.00 0.11 China : 44.93 125.36 0.50 135.10 0.70 34.99 Egypt : 0.85 4.13 0.00 3.25 1.10 0.63 Japan : 1.70 7.94 0.68 8.30 0.20 1.82 Mexico : 0.18 0.20 0.55 0.80 0.00 0.13 South Korea : 0.82 5.00 0.19 4.74 0.27 1.00 =============================================================================== 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-25. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries. WASDE-429-23 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 : =============================================================================== : : 2005/06 (Projected) World 3/ : November : 72.79 406.07 24.46 414.21 25.35 64.65 December : 72.88 406.83 24.91 413.88 25.41 65.82 United States : November : 1.21 7.01 0.48 4.02 3.84 0.83 December : 1.21 7.01 0.45 4.02 3.84 0.80 Total foreign : November : 71.58 399.06 23.98 410.19 21.51 63.81 December : 71.67 399.82 24.47 409.86 21.57 65.02 Major exporters 4/ : November : 13.97 130.30 0.10 112.29 17.50 14.58 December : 14.24 130.80 0.10 112.29 17.25 15.60 India Nov : 8.50 85.00 0.00 81.00 3.50 9.00 Dec : 8.50 85.00 0.00 81.00 3.50 9.00 Pakistan Nov : 0.11 5.00 0.00 2.80 2.00 0.31 Dec : 0.21 5.40 0.00 2.80 2.25 0.56 Thailand Nov : 1.98 17.80 0.00 9.49 7.50 2.79 Dec : 2.05 17.90 0.00 9.49 7.00 3.46 Vietnam Nov : 3.38 22.50 0.10 19.00 4.50 2.48 Dec : 3.48 22.50 0.10 19.00 4.50 2.58 Major importers 5/ : November : 12.65 59.38 9.69 69.27 0.36 12.08 December : 12.20 59.38 9.89 69.27 0.36 11.83 Brazil Nov : 1.57 7.80 0.70 9.21 0.13 0.73 Dec : 1.57 7.80 0.70 9.21 0.13 0.73 EU-25 6/ Nov : 1.13 1.74 0.98 2.55 0.18 1.12 Dec : 1.13 1.74 0.98 2.55 0.18 1.12 Indonesia Nov : 3.32 34.90 0.70 35.60 0.00 3.32 Dec : 2.92 34.90 0.80 35.60 0.00 3.02 Nigeria Nov : 0.42 2.70 1.60 4.35 0.00 0.37 Dec : 0.42 2.70 1.70 4.35 0.00 0.47 Philippines Nov : 4.59 9.50 1.25 10.60 0.00 4.74 Dec : 4.59 9.50 1.25 10.60 0.00 4.74 Sel. Mideast 7/Nov : 1.43 2.27 3.40 5.37 0.06 1.67 Dec : 1.38 2.27 3.40 5.37 0.06 1.62 Selected other : Burma Nov : 0.75 10.44 0.00 10.40 0.15 0.64 Dec : 0.75 10.44 0.00 10.40 0.15 0.64 C. Am & Car. 8/Nov : 0.11 0.07 0.40 0.47 0.00 0.10 Dec : 0.11 0.07 0.40 0.47 0.00 0.10 China Nov : 34.94 127.40 0.60 135.20 0.60 27.14 Dec : 34.99 127.40 0.60 135.20 0.60 27.19 Egypt Nov : 0.63 4.19 0.00 3.30 1.00 0.52 Dec : 0.63 4.19 0.00 3.30 1.00 0.52 Japan Nov : 1.82 8.00 0.70 8.25 0.20 2.07 Dec : 1.82 8.00 0.70 8.25 0.20 2.07 Mexico Nov : 0.13 0.20 0.60 0.82 0.00 0.10 Dec : 0.13 0.20 0.60 0.82 0.00 0.10 South Korea Nov : 0.92 4.75 0.40 4.66 0.00 1.41 Dec : 1.00 4.75 0.40 4.66 0.13 1.36 =============================================================================== 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-25. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries. WASDE-429-24 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2003/04 : World : 42.34 95.26 33.90 98.08 33.24 -0.54 40.72 United States : 5.39 18.26 0.05 6.22 13.76 0.20 3.51 Total foreign : 36.95 77.01 33.85 91.86 19.49 -0.74 37.21 Major exporters 4/ : 11.55 30.69 3.18 18.11 14.93 -0.16 12.54 Pakistan : 2.26 7.75 1.85 9.60 0.20 0.03 2.03 Central Asia 5/ : 1.78 6.74 0.01 1.67 5.14 0.00 1.71 Afr. Fr. Zone 6/ : 1.56 4.39 3/ 0.20 4.44 0.00 1.30 S. Hemis. 7/ : 4.85 9.36 0.95 5.02 3.90 -0.20 6.44 Australia : 1.30 1.70 3/ 0.08 2.16 -0.12 0.89 Brazil : 2.88 6.02 0.55 3.95 0.96 -0.10 4.63 Major importers : 23.20 42.87 26.18 67.23 3.14 -0.59 22.47 India : 3.59 14.00 0.80 13.50 0.70 0.00 4.19 Mexico : 1.07 0.36 1.86 2.00 0.11 0.03 1.14 China : 13.10 22.30 8.83 32.00 0.17 -0.75 12.81 EU-25 8/ : 1.53 1.96 3.16 3.90 1.73 0.06 0.96 Russia : 0.22 3/ 1.48 1.50 0.00 0.00 0.20 Turkey : 1.37 4.10 2.37 6.20 0.36 0.00 1.28 Selected Asia 9/ : 2.33 0.15 7.68 8.13 0.06 0.08 1.89 Indonesia : 0.40 0.03 2.15 2.15 0.02 0.05 0.37 Thailand : 0.56 0.06 1.68 1.85 0.00 0.03 0.42 : : 2004/05 (Estimated) : World : 40.72 120.41 33.14 108.80 34.68 -0.73 51.51 United States : 3.51 23.25 0.03 6.69 14.41 0.15 5.54 Total foreign : 37.21 97.16 33.11 102.10 20.27 -0.88 45.97 Major exporters 4/ : 12.54 38.00 2.55 19.45 16.23 -0.16 17.57 Pakistan : 2.03 11.30 1.70 10.75 0.38 0.03 3.88 Central Asia 5/ : 1.71 8.04 3/ 1.51 5.90 0.00 2.35 Afr. Fr. Zone 6/ : 1.30 4.89 3/ 0.20 4.08 0.00 1.90 S. Hemis. 7/ : 6.44 10.32 0.45 5.26 4.20 -0.20 7.94 Australia : 0.89 3.00 3/ 0.07 2.00 -0.12 1.95 Brazil : 4.63 5.90 0.21 4.20 1.56 -0.10 5.08 Major importers : 22.47 55.21 26.09 76.16 2.71 -0.74 25.64 India : 4.19 19.00 0.80 15.00 0.70 0.00 8.29 Mexico : 1.14 0.63 1.81 2.05 0.14 0.03 1.37 China : 12.81 29.00 6.39 38.50 0.03 -0.90 10.56 EU-25 8/ : 0.96 2.30 3.06 3.47 1.64 0.06 1.16 Russia : 0.20 3/ 1.45 1.43 0.00 0.00 0.22 Turkey : 1.28 4.15 3.41 7.00 0.15 0.00 1.69 Selected Asia 9/ : 1.89 0.14 9.18 8.72 0.06 0.08 2.35 Indonesia : 0.37 0.03 2.40 2.25 0.02 0.05 0.48 Thailand : 0.42 0.06 2.28 2.15 0.00 0.03 0.58 =============================================================================== 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/ Includes intra-EU trade. 9/ Hong Kong, Indonesia, Japan, South Korea, Taiwan, Thailand, and Vietnam. WASDE-429-25 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 (Projected) World : November : 50.83 111.71 41.42 114.40 40.82 -1.44 50.18 December : 51.51 112.29 41.76 114.85 41.30 -1.50 50.92 United States : November : 5.54 23.16 0.04 6.00 16.20 0.04 6.50 December : 5.54 23.70 0.04 6.00 16.40 -0.02 6.90 Total foreign : November : 45.29 88.55 41.38 108.40 24.62 -1.48 43.68 December : 45.97 88.58 41.72 108.85 24.90 -1.48 44.02 Major exporters 4/ : November : 17.09 34.25 3.00 20.33 18.72 -0.16 15.45 December : 17.57 34.94 2.75 20.33 19.07 -0.16 16.01 Pakistan Nov : 3.41 9.50 2.00 11.75 0.25 0.03 2.88 Dec : 3.88 9.75 1.70 11.75 0.35 0.03 3.21 Central Asia 5/Nov : 2.35 8.26 3/ 1.56 6.48 0.00 2.57 Dec : 2.35 8.39 3/ 1.56 6.56 0.00 2.62 Afr. Fr. Zn. 6/Nov : 1.90 4.77 3/ 0.19 4.59 0.00 1.90 Dec : 1.90 4.76 3/ 0.19 4.54 0.00 1.93 S. Hemis 7/ Nov : 7.94 8.65 0.45 5.05 5.55 -0.20 6.63 Dec : 7.94 8.85 0.47 5.05 5.65 -0.20 6.76 Australia Nov : 1.95 2.40 3/ 0.06 2.85 -0.12 1.57 Dec : 1.95 2.60 3/ 0.06 2.95 -0.12 1.67 Brazil Nov : 5.08 4.75 0.20 4.00 2.00 -0.10 4.13 Dec : 5.08 4.75 0.23 4.00 2.00 -0.10 4.16 Major importers Nov : 25.41 50.50 34.17 81.54 4.20 -1.33 25.67 Dec : 25.64 49.90 34.80 82.03 4.15 -1.33 25.49 India Nov : 8.06 19.00 0.80 16.75 1.80 0.00 9.31 Dec : 8.29 18.60 0.80 16.75 1.80 0.00 9.14 Mexico Nov : 1.37 0.75 1.20 1.90 0.20 0.03 1.19 Dec : 1.37 0.70 1.25 1.90 0.20 0.03 1.19 China Nov : 10.56 24.50 16.00 42.50 0.03 -1.50 10.04 Dec : 10.56 24.50 16.50 43.00 0.03 -1.50 10.04 EU-25 8/ Nov : 1.15 2.40 2.65 3.08 1.97 0.06 1.10 Dec : 1.16 2.40 2.66 3.08 1.97 0.06 1.11 Russia Nov : 0.22 3/ 1.45 1.45 0.00 0.00 0.22 Dec : 0.22 3/ 1.50 1.50 0.00 0.00 0.22 Turkey Nov : 1.69 3.70 3.35 7.05 0.15 0.00 1.54 Dec : 1.69 3.55 3.45 7.05 0.10 0.00 1.54 Sel. Asia 9/ Nov : 2.36 0.15 8.72 8.81 0.06 0.09 2.28 Dec : 2.35 0.15 8.65 8.75 0.06 0.09 2.26 Indonesia Nov : 0.48 0.03 2.30 2.30 0.02 0.05 0.44 Dec : 0.48 0.03 2.30 2.30 0.02 0.05 0.44 Thailand Nov : 0.58 0.05 2.15 2.18 0.00 0.03 0.58 Dec : 0.58 0.05 2.15 2.18 0.00 0.03 0.58 =============================================================================== 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 estimated 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/ Includes intra-EU trade. 9/ Hong Kong, Indonesia, Japan, South Korea, Taiwan, Thailand, and Vietnam. WASDE-429-26 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 2003/04 World 2/ : 40.50 186.26 54.25 163.64 189.97 55.86 35.18 United States : 4.85 66.78 0.15 41.63 44.60 24.13 3.06 Total foreign : 35.65 119.48 54.10 122.00 145.37 31.73 32.12 Major exporters 3/ : 28.59 87.41 0.88 55.36 59.93 29.30 27.65 Argentina : 12.47 33.00 0.54 25.04 26.62 6.71 12.68 Brazil : 16.03 50.50 0.33 29.33 32.16 19.82 14.88 Major importers 4/ : 6.05 17.43 43.57 49.00 63.24 0.34 3.46 China : 4.47 15.39 16.93 25.44 34.38 0.32 2.10 EU-25 : 0.93 0.63 14.64 14.13 15.46 0.01 0.74 Japan : 0.31 0.23 4.69 3.54 4.93 0.00 0.30 Mexico : 0.05 0.13 3.80 3.89 3.93 0.00 0.04 : : 2004/05 (Estimated) World 2/ : 35.18 213.33 64.81 176.02 205.98 65.25 42.09 United States : 3.06 85.01 0.15 46.16 51.26 30.01 6.95 Total foreign : 32.12 128.32 64.65 129.86 154.72 35.24 35.14 Major exporters 3/ : 27.65 93.80 1.17 57.08 62.15 32.74 27.73 Argentina : 12.68 39.00 0.62 27.30 29.05 9.60 13.64 Brazil : 14.88 51.00 0.53 28.77 31.88 20.54 14.00 Major importers 4/ : 3.46 19.54 52.94 54.38 69.45 0.42 6.07 China : 2.10 17.40 25.80 30.36 40.21 0.39 4.70 EU-25 : 0.74 0.79 15.80 15.13 16.53 0.01 0.79 Japan : 0.30 0.17 4.30 3.15 4.50 0.00 0.26 Mexico : 0.04 0.13 3.50 3.59 3.63 0.00 0.04 : : 2005/06 (Projected) World 2/ : November : 42.09 221.55 67.71 185.93 216.14 68.48 46.75 December : 42.09 221.71 67.74 185.35 215.43 68.01 48.11 United States : November : 6.95 82.82 0.11 46.81 51.11 29.26 9.52 December : 6.95 82.82 0.11 46.81 51.11 27.76 11.02 Total foreign : November : 35.14 138.73 67.61 139.12 165.03 39.22 37.23 December : 35.14 138.89 67.64 138.53 164.32 40.25 37.09 Major exporters 3/ : November : 27.73 103.80 1.06 60.18 65.29 36.70 30.59 December : 27.73 103.80 1.06 59.45 64.56 37.70 30.32 Argentina Nov : 13.64 40.50 0.55 28.60 30.60 9.70 14.39 Dec : 13.64 40.50 0.55 28.60 30.60 9.70 14.39 Brazil Nov : 14.00 58.50 0.49 29.98 32.88 24.00 16.11 Dec : 14.00 58.50 0.49 29.25 32.15 25.00 15.84 Major importers 4/ : November : 6.07 19.23 55.38 59.14 74.75 0.39 5.54 December : 6.07 19.23 55.28 59.04 74.65 0.39 5.54 China Nov : 4.70 17.00 27.50 34.55 44.75 0.35 4.10 Dec : 4.70 17.00 27.50 34.55 44.75 0.35 4.10 EU-25 Nov : 0.79 0.79 15.95 15.30 16.71 0.01 0.80 Dec : 0.79 0.79 15.95 15.30 16.71 0.01 0.80 Japan Nov : 0.26 0.23 4.50 3.30 4.69 0.00 0.30 Dec : 0.26 0.23 4.40 3.20 4.59 0.00 0.30 Mexico Nov : 0.04 0.13 3.70 3.79 3.83 0.00 0.04 Dec : 0.04 0.13 3.70 3.79 3.83 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-429-27 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2003/04 World 2/ : 4.43 128.74 44.89 128.95 45.41 3.70 United States : 0.20 32.95 0.26 28.53 4.69 0.19 Total foreign : 4.23 95.79 44.63 100.42 40.72 3.51 Major exporters 3/ : 1.16 46.96 0.27 10.02 37.02 1.35 Argentina : 0.35 19.76 0.00 0.62 18.95 0.54 Brazil : 0.77 22.78 0.27 8.28 14.76 0.78 India : 0.05 4.42 0.00 1.12 3.31 0.04 Major importers 4/ : 1.19 33.04 26.82 58.83 1.10 1.13 EU-25 : 0.87 11.10 21.91 32.64 0.39 0.85 China : 0.00 20.19 0.02 19.54 0.67 0.00 : : 2004/05 (Estimated) World 2/ : 3.70 138.28 45.48 137.65 46.01 3.80 United States : 0.19 36.94 0.13 30.45 6.66 0.16 Total foreign : 3.51 101.34 45.35 107.20 39.36 3.64 Major exporters 3/ : 1.35 47.27 0.20 11.32 36.18 1.32 Argentina : 0.54 21.47 0.00 0.76 20.35 0.90 Brazil : 0.78 22.03 0.20 8.60 14.04 0.37 India : 0.04 3.77 0.00 1.96 1.80 0.05 Major importers 4/ : 1.13 37.82 27.70 64.43 1.07 1.14 EU-25 : 0.85 11.90 22.60 34.13 0.36 0.86 China : 0.00 24.03 0.07 23.43 0.66 0.00 : : 2005/06 (Projected) World 2/ : November : 3.77 146.64 47.10 145.49 47.88 4.15 December : 3.80 145.98 46.85 145.28 47.31 4.04 United States : November : 0.16 37.12 0.15 31.12 6.08 0.23 December : 0.16 37.12 0.15 31.12 6.08 0.23 Total foreign : November : 3.62 109.53 46.95 114.37 41.80 3.93 December : 3.64 108.86 46.70 114.16 41.24 3.81 Major exporters 3/ : November : 1.32 50.23 0.23 12.22 37.95 1.60 December : 1.32 49.45 0.28 12.22 37.37 1.45 Argentina Nov : 0.90 22.52 0.00 0.95 21.52 0.95 Dec : 0.90 22.52 0.00 0.95 21.52 0.95 Brazil Nov : 0.37 23.64 0.23 9.10 14.54 0.60 Dec : 0.37 22.86 0.28 9.10 13.95 0.45 India Nov : 0.05 4.07 0.00 2.17 1.90 0.05 Dec : 0.05 4.07 0.00 2.17 1.90 0.05 Major importers 4/ : November : 1.14 41.56 28.13 68.50 1.19 1.15 December : 1.14 41.56 28.03 68.40 1.19 1.15 EU-25 Nov : 0.86 12.04 22.85 34.49 0.39 0.86 Dec : 0.86 12.04 22.75 34.39 0.39 0.86 China Nov : 0.00 27.50 0.08 26.83 0.75 0.00 Dec : 0.00 27.50 0.08 26.83 0.75 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-429-28 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2003/04 World 2/ : 1.97 29.88 8.43 29.73 8.99 1.56 United States : 0.68 7.75 0.14 7.65 0.43 0.49 Total foreign : 1.30 22.13 8.29 22.08 8.56 1.07 Major exporters 3/ : 0.38 12.68 0.08 5.10 7.70 0.34 Argentina : 0.05 4.51 0.00 0.11 4.41 0.04 Brazil : 0.10 5.64 0.03 2.95 2.72 0.10 EU-25 : 0.23 2.54 0.04 2.03 0.57 0.21 Major importers 4/ : 0.38 5.57 3.54 9.02 0.03 0.44 China : 0.25 4.54 2.73 7.17 0.02 0.33 India : 0.13 1.02 0.76 1.78 0.02 0.11 Pakistan : 0.01 0.01 0.05 0.07 0.00 0.01 : : 2004/05 (Estimated) World 2/ : 1.56 32.46 9.03 31.92 9.32 1.81 United States : 0.49 8.78 0.01 7.91 0.60 0.77 Total foreign : 1.07 23.68 9.02 24.01 8.72 1.04 Major exporters 3/ : 0.34 13.37 0.14 5.57 7.88 0.39 Argentina : 0.04 5.13 0.00 0.13 4.97 0.07 Brazil : 0.10 5.53 0.05 3.20 2.37 0.10 EU-25 : 0.21 2.72 0.09 2.24 0.54 0.23 Major importers 4/ : 0.44 6.30 3.79 10.06 0.05 0.42 China : 0.33 5.42 1.73 7.21 0.04 0.22 India : 0.11 0.87 2.00 2.78 0.01 0.20 Pakistan : 0.01 0.01 0.06 0.07 0.00 0.01 : : 2005/06 (Projected) World 2/ : November : 1.82 34.05 9.96 34.03 9.88 1.91 December : 1.81 34.22 9.95 34.02 9.90 2.05 United States : November : 0.77 8.82 0.03 8.14 0.61 0.86 December : 0.77 9.01 0.03 8.14 0.61 1.06 Total foreign : November : 1.05 25.23 9.93 25.89 9.27 1.05 December : 1.04 25.21 9.92 25.88 9.29 1.00 Major exporters 3/ : November : 0.39 13.76 0.18 5.66 8.30 0.37 December : 0.39 13.71 0.18 5.64 8.33 0.33 Argentina Nov : 0.07 5.30 0.00 0.14 5.17 0.06 Dec : 0.07 5.35 0.00 0.14 5.24 0.04 Brazil Nov : 0.10 5.71 0.03 3.13 2.61 0.10 Dec : 0.10 5.62 0.03 3.11 2.56 0.08 EU-25 Nov : 0.23 2.75 0.15 2.39 0.53 0.21 Dec : 0.23 2.75 0.15 2.39 0.53 0.21 Major importers 4/ : November : 0.42 7.17 4.53 11.61 0.07 0.45 December : 0.42 7.17 4.53 11.61 0.07 0.45 China Nov : 0.22 6.21 2.40 8.55 0.05 0.23 Dec : 0.22 6.21 2.40 8.55 0.05 0.23 India Nov : 0.20 0.94 2.05 2.96 0.02 0.21 Dec : 0.20 0.94 2.05 2.96 0.02 0.21 Pakistan Nov : 0.01 0.03 0.08 0.10 0.00 0.01 Dec : 0.01 0.03 0.08 0.10 0.00 0.01 =============================================================================== 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-429-29 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 2004 : IV : 6097 5435 11623 8537 1389 10053 21676 1906 42.0 Annual : 24548 20509 45419 34063 5454 40022 85441 7443 170.8 : 2005 : I : 5727 5136 10951 8571 1320 10013 20964 1855 43.2 II : 6192 5022 11299 8941 1393 10471 21770 1857 45.7 III : 6566 4999 11649 8931 1375 10437 22086 1878 44.0 IV*: 6180 5550 11817 8750 1410 10285 22102 1910 43.8 Annual : Nov Proj : 24685 20707 45743 35192 5498 41206 86949 7500 176.9 Dec Proj : 24665 20707 45716 35192 5498 41206 86922 7500 176.7 : 2006 : I*: 6050 5200 11343 8825 1325 10275 21618 1870 45.1 II*: 6700 5075 11870 9125 1395 10650 22520 1905 46.7 III*: 6800 5225 12116 9300 1410 10845 22961 1920 44.7 Annual : Nov Proj : 25750 21125 47261 36325 5555 42405 89666 7645 181.5 Dec Proj : 25850 21125 47351 36325 5555 42405 89756 7645 181.3 =============================================================================== * 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 =============================================================================== Year : Choice : Barrows : : : : : and : steers :and gilts : Broilers : Turkeys : Eggs : Milk : quarter : 1/ : 2/ : 3/ : 4/ : 5/ : 6/ : =============================================================================== : Dol./cwt Dol./cwt Cents/lb. Cents/lb. Cents/doz. Dol./cwt 2004 : IV : 85.09 54.35 68.3 77.1 68.0 16.07 Annual : 84.75 52.51 74.1 69.7 82.2 16.05 : 2005 : I : 89.09 51.92 71.9 65.9 64.5 15.67 II : 87.96 52.09 72.6 67.7 55.9 14.83 III : 81.79 50.51 72.1 76.5 66.6 14.97 IV*: 89-90 45-46 67-68 80-81 71-72 15.05-15.25 Annual : Nov Proj : 85.96 49.63 71.4 72.5 63.8 15.15-15.25 Dec Proj : 87.09 50.01 71.0 72.7 64.6 15.10-15.20 : 2006 : I*: 82-86 46-48 67-71 63-67 63-67 14.20-14.70 II*: 80-86 46-50 67-73 65-71 60-64 12.90-13.70 III*: 77-83 44-48 69-75 71-77 62-68 12.65-13.65 Annual : Nov Proj : 78-84 44-47 69-74 69-74 63-68 13.15-14.05 Dec Proj : 79-85 44-47 68-73 69-74 63-68 13.35-14.15 =============================================================================== *Projection. 1/ Nebraska, Direct, 1100-1300 lbs. 2/ National Base, Live equiv 51-52% lean 3/ Wholesale, 12-city average. 4/ 8-16 lbs, hens, Eastern Region. 5/ Grade A large, New York, volume buyers. 6/ Simple monthly average of prices received by farmers for all milk. May not match reported annual averages. WASDE-429-30 U.S. Meats Supply and Use ============================================================================ : Supply : Use :--------------------------------------------------------- : : : : : : : Consumption : : 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 : 2004 : 518 24650 3679 28847 460 637 27750 66.1 2005 Proj. Nov : 637 24787 3746 29170 629 610 27931 65.9 Dec : 637 24767 3587 28991 644 610 27737 65.4 2006 Proj. Nov : 610 25852 3720 30182 640 575 28967 67.7 Dec : 610 25952 3560 30122 680 575 28867 67.4 : PORK : 2004 : 532 20529 1099 22160 2181 543 19437 51.3 2005 Proj. Nov : 543 20727 985 22255 2709 545 19001 49.7 Dec : 543 20727 1002 22272 2683 535 19054 49.8 2006 Proj. Nov : 545 21145 960 22650 2785 545 19320 50.0 Dec : 535 21145 960 22640 2785 545 19310 50.0 : TOTAL RED MEAT 5/ : 2004 : 1059 45555 4959 51573 2650 1187 47735 119.0 2005 Proj. Nov : 1187 45878 4915 51980 3347 1171 47462 117.1 Dec : 1187 45851 4768 51806 3336 1159 47311 116.7 2006 Proj. Nov : 1171 47396 4855 53422 3433 1136 48853 119.3 Dec : 1159 47486 4695 53340 3473 1136 48731 119.0 : BROILERS : 2004 : 608 33699 27 34334 4784 713 28837 84.3 2005 Proj. Nov : 713 34816 37 35566 5431 675 29460 85.2 Dec : 713 34816 34 35563 5336 725 29502 85.4 2006 Proj. Nov : 675 35936 36 36647 5595 695 30357 87.0 Dec : 725 35936 36 36697 5595 695 30407 87.2 : TURKEYS : 2004 : 354 5383 5 5741 442 288 5010 17.0 2005 Proj. Nov : 288 5426 8 5723 578 250 4895 16.5 Dec : 288 5426 8 5723 580 250 4893 16.5 2006 Proj. Nov : 250 5482 4 5736 600 300 4836 16.1 Dec : 250 5482 4 5736 600 300 4836 16.1 : TOTAL POULTRY 6/ : 2004 : 966 39585 33 40584 5440 1005 34139 102.3 2005 Proj. Nov : 1005 40757 47 41808 6135 928 34746 103.0 Dec : 1005 40757 43 41804 6043 978 34784 103.2 2006 Proj. Nov : 928 41943 44 42915 6335 999 35581 104.4 Dec : 978 41943 44 42965 6335 999 35631 104.6 : RED MEAT & POULTRY: 2004 : 2025 85140 4992 92157 8090 2192 81875 221.3 2005 Proj. Nov : 2192 86635 4962 93789 9482 2099 82208 220.1 Dec : 2192 86608 4811 93611 9379 2137 82095 219.9 2006 Proj. Nov : 2099 89339 4899 96337 9768 2135 84434 223.8 Dec : 2137 89429 4739 96305 9808 2135 84362 223.6 ============================================================================ 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, Bureau of Economic Analysis. 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-429-31 U.S. Egg Supply and Use =============================================================================== : : : 2005 Projected : 2006 Projected : : :-----------------:----------------- Commodity : 2003 : 2004 : Nov : Dec : Nov : Dec =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 10.3 13.7 14.5 14.5 14.0 14.0 Production : 7297.0 7443.0 7499.8 7499.7 7645.0 7645.0 Imports : 13.3 12.7 9.5 8.9 10.0 10.0 Total supply : 7320.6 7469.4 7523.8 7523.1 7669.0 7669.0 : Use : Exports : 146.2 167.5 199.2 200.1 200.0 200.0 Hatching use : 959.4 987.2 998.4 998.4 1015.0 1015.0 Ending stocks : 13.7 14.5 14.0 14.0 14.0 14.0 Consumption : Total : 6201.3 6300.2 6312.2 6310.6 6440.0 6440.0 Per capita (number) : 255.7 257.2 255.1 255.1 257.9 257.9 =============================================================================== U.S. Milk Supply and Use =============================================================================== : : : 2005 Projected : 2006 Projected Commodity : : :-----------------:----------------- : 2003 : 2004 : Nov : Dec : Nov : Dec =============================================================================== : Billion pounds Milk : Production : 170.4 170.8 176.9 176.7 181.5 181.3 Farm use : 1.1 1.1 1.1 1.1 1.1 1.1 : Fat Basis Supply : Beg. commercial stocks : 9.9 8.3 7.2 7.2 7.4 7.4 Marketings : 169.3 169.7 175.8 175.6 180.4 180.2 Imports : 5.0 5.3 4.8 4.8 4.9 4.9 Total cml. supply : 184.2 183.3 187.7 187.5 192.7 192.6 : Fat Basis Use : Ending commercial stks : 8.3 7.2 7.4 7.4 7.5 7.5 CCC net removals 1/ : 1.2 -0.1 0.0 0.0 0.0 0.0 Commercial use 2/ : 174.7 176.2 180.3 180.2 185.2 185.0 : Skim-solids Basis Supply : Beg. commercial stocks : 8.5 8.5 8.2 8.2 8.0 8.1 Marketings : 169.3 169.7 175.8 175.6 180.4 180.2 Imports : 5.0 4.8 4.8 4.8 4.8 4.8 Total cml. supply : 182.8 183.0 188.8 188.6 193.2 193.2 : Skim-solids Basis Use : Ending commercial stks : 8.5 8.2 8.0 8.1 8.2 8.3 CCC net removals 1/ : 8.1 1.3 -1.0 -1.0 0.8 0.7 Commercial use 2/ : 166.2 173.5 181.8 181.5 184.2 184.2 : : Million pounds CCC product net removals 1/: Butter : 29 -7 0 0 0 0 Cheese : 41 6 0 -2 0 0 Nonfat dry milk : 664 105 -85 -80 70 60 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-429-32 U.S. Dairy Prices =============================================================================== : : : 2005 Projected : 2006 Projected : : :-----------------:------------------ Commodity : 2003 : 2004 : Nov : Dec : Nov : Dec =============================================================================== : Dollars per pound : Product Prices 1/ : Cheese : 1.3031 1.6431 1.485- 1.480- 1.285- 1.295- : 1.495 1.490 1.375 1.375 : Butter : 1.1194 1.8239 1.540- 1.525- 1.305- 1.300- : 1.570 1.555 1.425 1.410 : Nonfat dry milk : 0.8090 0.8405 0.930- 0.930- 0.875- 0.890- : 0.950 0.950 0.945 0.950 : Dry whey : 0.1667 0.2319 0.270- 0.275- 0.235- 0.255- : 0.280 0.285 0.265 0.285 : : Dollars per cwt Milk Prices 2/ : Class III : 11.42 15.39 14.00- 14.00- 11.85- 12.05- : 14.10 14.10 12.75 12.85 : Class IV : 10.00 13.20 12.80- 12.75- 11.35- 11.45- : 13.00 12.95 12.35 12.35 : All milk 3/ : 12.52 16.05 15.15- 15.10- 13.15- 13.35- : 15.25 15.20 14.05 14.15 : =============================================================================== 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-429-33 Note: Tables on pages 33-35 present a 24-year record of the differences between the December projection and the final estimate. Using world wheat production as an example, changes between the December projection and the final estimate have averaged 3.8 million tons (0.7%) ranging from -10.2 to 6.1 million tons. The December projection has been below the estimate 16 times and above 8 times. Reliability of December Projections ------------------------------------------------------------------------------- :Differences between proj. & final estimate,1981/82-2004/05 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- WHEAT :Percent Million metric tons Number of years 2/ Production : World : 0.7 3.8 -10.2 6.1 16 8 U.S. : 0.3 0.2 -1.2 0.5 12 9 Foreign : 0.8 3.8 -10.3 6.3 16 8 Exports : World : 3.4 3.8 -12.6 5.7 18 6 U.S. : 5.1 1.7 -3.9 3.4 11 13 Foreign : 5.0 4.0 -11.2 5.9 20 4 Domestic use : World : 1.0 5.2 -13.0 11.0 14 10 U.S. : 5.3 1.6 -2.4 3.6 8 16 Foreign : 1.0 5.2 -16.1 8.7 16 8 Ending stocks : World : 4.7 5.8 -15.0 6.1 16 8 U.S. : 8.8 1.9 -7.0 2.1 14 10 Foreign : 4.7 4.8 -12.5 9.7 15 9 : COARSE GRAINS 3/ : Production : World : 1.0 8.5 -20.2 6.9 15 9 U.S. : 1.0 2.3 -7.5 5.8 13 11 Foreign : 1.4 8.4 -24.0 7.6 14 10 Exports : World : 4.3 4.5 -10.8 12.4 16 8 U.S. : 11.1 5.7 -11.6 12.4 10 14 Foreign : 9.6 5.0 -14.9 7.2 14 9 Domestic use : World : 1.1 9.2 -19.4 22.8 14 10 U.S. : 2.8 5.1 -17.9 16.5 13 11 Foreign : 1.2 7.7 -14.3 22.7 15 9 Ending stocks : World : 8.4 11.9 -30.3 17.5 18 6 U.S. : 16.5 8.1 -23.9 21.2 13 11 Foreign : 10.9 8.9 -31.8 8.3 18 6 : RICE, milled : Production : World : 1.6 5.6 -16.2 4.7 18 6 U.S. : 2.8 0.2 -0.3 0.5 12 10 Foreign : 1.7 5.6 -16.2 4.6 19 5 Exports : World : 7.7 1.5 -6.1 0.9 19 5 U.S. : 5.9 0.2 -0.6 0.3 14 8 Foreign : 8.8 1.4 -6.0 0.9 17 7 Domestic use : World : 1.2 4.0 -15.9 1.5 19 5 U.S. : 5.6 0.2 -0.4 0.4 13 11 Foreign : 1.2 4.0 -16.1 1.7 19 5 Ending stocks : World : 8.3 3.6 -13.4 4.8 18 6 U.S. : 14.3 0.2 -0.3 0.8 11 13 Foreign : 8.8 3.7 -13.5 4.6 18 6 ------------------------------------------------------------------------------- 1/ Footnotes at end of table. CONTINUED WASDE-429-34 Reliability of December Projections (Continued) ------------------------------------------------------------------------------- :Differences between proj. & final estimate,1981/82-2004/05 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- SOYBEANS :Percent Million metric tons Number of years 2/ Production : World : 2.8 3.9 -7.9 17.7 14 10 U.S. : 1.7 0.9 -2.7 2.1 8 16 Foreign : 4.7 3.6 -7.5 17.0 13 11 Exports : World : 5.3 2.2 -8.1 11.5 15 9 U.S. : 7.2 1.6 -3.9 4.8 14 10 Foreign : 16.3 2.2 -7.4 11.4 13 11 Domestic use : World : 2.6 3.3 -5.8 11.2 15 9 U.S. : 2.8 1.1 -3.6 2.1 17 7 Foreign : 3.3 3.0 -5.4 11.9 15 9 Ending stocks : World : 13.4 3.2 -8.2 18.5 14 10 U.S. : 27.8 2.0 -2.8 5.6 5 19 Foreign : 17.1 3.0 -8.4 12.9 15 9 : COTTON : Million 480-pound bales Production : World : 2.3 2.1 -6.4 4.4 13 10 U.S. : 1.4 0.2 -0.5 0.4 12 11 Foreign : 2.8 2.1 -6.7 4.3 12 11 Exports : World : 4.2 1.1 -3.0 1.2 15 9 U.S. : 10.5 0.7 -1.9 1.1 15 9 Foreign : 4.9 0.9 -3.3 1.6 13 10 Mill use : World : 2.0 1.8 -6.0 1.6 13 11 U.S. : 4.1 0.3 -0.9 1.0 15 8 Foreign : 2.1 1.7 -5.5 2.1 14 10 Ending stocks : World : 9.7 3.4 -8.1 9.4 12 12 U.S. : 21.1 0.9 -2.1 2.2 6 18 Foreign : 9.8 3.1 -8.6 8.9 15 9 ------------------------------------------------------------------------------- 1/ Final estimate for 1981/82-2004/05 is defined as the first November estimate following the marketing year. 2/ May not total 24 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. WASDE-429-35 Reliability of United States December Projections 1/ ------------------------------------------------------------------------------- :Differences between proj. & final estimate,1981/82-2004/05 2/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- CORN :Percent Million bushels Number of years 3/ Production : 1.0 80 -250 164 13 10 Exports : 11.4 202 -450 408 10 14 Domestic use : 3.1 191 -574 535 16 8 Ending stocks : 19.2 313 -986 907 13 11 : SORGHUM : Production : 2.4 16 -53 52 11 13 Exports : 12.6 30 -90 97 17 6 Domestic use : 9.8 41 -114 127 9 15 Ending stocks : 31.3 33 -104 82 11 13 : BARLEY : Production : 1.1 5 -12 24 10 10 Exports : 19.6 11 -37 30 10 12 Domestic use : 5.6 20 -30 70 9 14 Ending stocks : 10.7 16 -39 28 16 7 : OATS : Production : 0.8 3 -18 16 7 8 Exports : 44.1 1 -4 7 6 6 Domestic use : 3.2 13 -39 36 12 12 Ending stocks : 12.7 15 -46 52 14 10 : : Thousand short tons SOYBEAN MEAL : Production : 2.8 881 -2578 1265 15 9 Exports : 9.4 632 -1900 1300 12 12 Domestic use : 2.4 594 -1206 1166 15 9 Ending stocks : 28.8 69 -214 188 10 13 : : Million pounds SOYBEAN OIL : Production : 2.6 383 -1418 745 16 8 Exports : 19.2 286 -900 964 11 11 Domestic use : 2.4 313 -985 500 16 8 Ending stocks : 15.7 234 -623 708 13 11 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 3.5 871 -852 2311 16 6 Pork : 2.8 478 -1240 1592 13 9 Broilers : 1.5 338 -1337 516 14 8 Turkeys : 2.0 93 -294 181 14 8 : : Million dozen Eggs : 1.3 80 -127 178 16 6 : : Billion pounds Milk : 1.4 2.0 -6.1 5.7 11 11 ------------------------------------------------------------------------------- 1/ See pages 33 and 34 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-2004/05 is defined as the first November estimate following the marketing year. 3/ May not total 24 for crops and 22 for animal production if projection was the same as the final estimate. 4/ Calendar years 1983 thru 2004 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS. ----- End of File -----