WASDE-360 March 10, 2000 NOTE: Supply and demand projections in this report do not include planned fiscal-year 2000 food aid donations announced February 10. Commodities to be donated include wheat, wheat flour, soybeans and soy products, rice, and milk powder. Donations will be reflected in future supply and use projections as recipient countries and shipping dates are determined. WHEAT: U.S. 1999/2000 supply and use projections are unchanged from last month except for a few minor changes in exports and ending stocks by class of wheat. The projected farm price range is reduced 5 cents on each end to $2.45 to $2.55 per bushel based on the reported prices to date. Projected global 1999/2000 production and use are up slightly from last month while ending stocks are down marginally. The major production change this month is a 1-million-ton increase in Australia's crop. Global trade is little changed from last month as reductions in projected imports for Pakistan and Egypt are offset by relatively small increases for a number of countries. The larger Australian crop is reflected in higher consumption and stocks. The larger Australian stocks are more than offset by reductions for Pakistan and Egypt. COARSE GRAINS: Projected 1999/2000 U.S. ending stocks of feed grains are up marginally from last month due to a 5-million-bushel increase in barley imports and ending stocks. Projected supply and use of corn are unchanged but the price range is narrowed 10 cents on each end to $1.85 to $1.95 per bushel. Global 1999/2000 supply, use, and ending stocks projections are down marginally from last month. Larger projected corn crops in South Africa and Peru are more than offset by reductions for Australia (barley and oats), Sudan (sorghum), and Mozambique (corn). The bigger South African corn crop is reflected in larger projected domestic use. RICE: U.S. exports for 1999/2000 are projected at 87 million hundredweight, up 1 million hundredweight from last month and an increase of nearly 2 million hundredweight from 1998/99. The pace of exports of rough rice have been particularly strong through the first 7 months of the marketing year. The leading rough rice markets have been Mexico, Turkey, and Central America. Exports of rough rice are projected at 21 million hundredweight, an increase of 1 million hundredweight from last month, but down nearly 5 million hundredweight from 1998/99. U.S. ending stocks for 1999/2000 are projected at 39.6 million hundredweight, down 1 million hundredweight from last month, but up over 17 million hundredweight from 1998/99 and the highest stocks level since 1986/87. The season-average price range for 1999/2000 is narrowed 5 cents per hundredweight on each end to $5.80 to $6.20 per hundredweight. Global production and consumption for 1999/2000 are raised from a month ago while exports and ending stocks are reduced. World rice production for 1999/2000 is projected at a record 398.3 million tons, up about 1 million tons from last month. The increase in production is due primarily to larger crops projected for Bangladesh, Pakistan, Brazil, Australia, and Colombia, which are partially offset by reductions for Argentina, Uruguay, Ecuador, and Tanzania. Global exports for 1999/2000 are projected down from a month ago primarily because of smaller exports for Uruguay and Argentina. OILSEEDS: U.S. soybean export prospects for 1999/2000 are up 20 million bushels this month to 910 million bushels. Higher soybean import prospects for China and lower prospective Indian soybean meal exports are supporting larger U.S. soybean exports. U.S. soybean stocks are reduced 20 million bushels this month to 325 million bushels, 23 million bushels below a year earlier. Soybean oil exports are trimmed by 100 million pounds to 1.55 billion pounds, based on weak year-to-date export commitments. However, a 100-million-pound increase in domestic use leaves ending stocks unchanged at 2.13 billion pounds. Reduced U.S. rapeseed oil imports and strong economic growth in recent months are boosting domestic soybean oil use to a record 16.0 billion pounds. U.S. soybean producer prices are projected at $4.50 to $4.90 per bushel, down slightly from last month. Soybean oil prices are reduced 0.5 cents per pound to 14.5 to 16.5 cents per pound. Soybean meal prices are raised $5.00 per ton to $150 to $170 per short ton. Global oilseed production is projected at a record 295.8 million metric tons, up 0.3 million tons from last month, and up 3.0 million tons from last year. Foreign production accounts for all of the change, and is projected to reach a record 213.7 million tons, up 5.2 million tons from last year. Increases for soybeans, rapeseed, and peanuts are partially offset by a decline in Philippine copra production. Global soybean production is projected at 153.5 million tons, up 0.3 million tons from last month. Argentine production is increased 0.5 million tons to a record 20.0 million tons based on harvested area of 8.2 million hectares, up 0.2 million from last month. Crop growing conditions remain quite favorable in Argentina. For India, the soybean crop is reduced 0.3 million tons to 5.2 million tons, reflecting lower yields due to poor late-season weather. Global oilseed export prospects are up 1.3 million tons this month as increases in soybeans, rapeseed, and peanuts are partially offset by reduced sunflowerseed exports. World soybean exports are projected at a record 42.1 million tons, up 0.8 million tons from last month, with increases noted for both the United States and Argentina. Asian destinations account for most of the increased soybean trade, with China's imports raised to a record 5.0 million tons. China's rapeseed imports are raised to a record 3.2 million tons, up 0.4 million from last month. SUGAR: U.S. sugar supply for fiscal year 1999/2000 is projected up 118,000 short tons, raw value, from last month. Beet sugar production is increased 100,000 tons, based on higher than expected sugar content in 1999-crop sugarbeets. Cane sugar production is increased 15,000 tons, based on higher than expected sugar content in Florida sugarcane. Imports not under the tariff rate quota (TRQ) are increased 3,000 tons to reflect the observed pace of high-tier tariff imports during October to February. The projected stocks-to-use ratio is 18.7 percent, compared with 17.6 percent last month. For 1998/99, TRQ imports are increased 4,000 tons due to U.S. Customs adjustments, which results in lowering the TRQ shortfall to 55,483 tons and the statistical discrepancy to 58,000 tons. LIVESTOCK, POULTRY, AND DAIRY: Total U.S. meat production in 2000 is forecast higher this month. Beef production is raised 475 million pounds because of USDA's recent Cattle on Feed report, which indicated the continued large placements of cattle into feedlots in January. Dressed slaughter weights are projected to remain relatively high. Pork production is forecast slightly higher on the basis of higher than expected slaughter weights. Poultry production is forecast slightly lower. Total meat production in 2000 is now projected to be over 500 million pounds higher than last year. Both cattle and hog prices for 2000 are increased for the first half of the year because of strong demand for beef and pork. Poultry prices are reduced slightly. Red meat and poultry exports in 1999 totaled a record 9 billion pounds. However, this export number does not include P.L. 480 Title I beef, pork, and poultry meat shipments to Russia. These shipments will be included in future supply and demand reports subsequent to release by the Bureau of the Census. Calendar year 2000 meat exports are forecast at 9.2 billion pounds. Meat imports are forecast at 4 billion pounds, slightly higher than last month, because of higher pork imports. Milk production in 1999/2000 is forecast 500 million pounds higher this month due to slightly more cows and further gains in milk per cow. Growth in milk production is expected to slow during 1999/2000, but the volume of milk available through most of the year will continue to pressure prices. The BFP/Class III price is projected lower and net CCC removals are increased this month reflecting continuing weakness in product prices. COTTON: This month's 1999/2000 U.S. estimates include lower mill use and higher exports, with ending stocks unchanged at 4.4 million bales. A reduction of 100,000 bales in domestic use is based on sluggish year-to-date mill activity. An offsetting increase of 100,000 bales in estimated exports reflects recent strong sales in response to rising world import demand. The 1999/2000 world cotton estimates include slightly higher consumption and trade, and lower ending stocks, when compared with last month. Production is virtually unchanged, as a larger crop in Brazil is offset by reductions for India and Turkmenistan. Consumption estimates are raised for Turkey, Russia, and Europe, but reduced for the United States and Taiwan. Rising world consumption is generating stronger import demand, with U.S. and Australian exports the main beneficiaries. World stocks are lowered marginally to 39.9 million bales. 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 5. APPROVED: RICHARD E. ROMINGER ACTING SECRETARY OF AGRICULTURE * * * * * * * * * * * The next issue of this report will be released 8:30 a.m. ET on April 11, 2000. The World Agricultural Supply and Demand Estimates report will be released on the following dates in 2000: April 11, May 12, June 9, July 12, August 11, September 12, October 12, November 9, and December 12. ELECTRONIC ACCESS AND SUBSCRIPTIONS Download this report in ascii text or pdf (Adobe Acrobat) format at ww.usda.gov/oce/waob/wasde/wasde.htm. Acrobat files can be viewed or printed in their original form, page by page. This report and other USDA releases are posted electronically by release date at www.usda.gov/news/calindex.htm. 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WASDE-360-6 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/ : 1997/98 : 1,879.47 2,172.90 252.01 1,843.54 329.35 1998/99 (Est.) : 1,874.56 2,203.91 254.56 1,854.55 349.36 1999/00 (Proj.) : February : 1,855.35 2,205.40 262.44 1,870.58 334.82 March : 1,856.57 2,205.93 262.91 1,872.05 333.88 Wheat : 1997/98 : 609.36 722.85 125.05 584.56 138.29 1998/99 (Est.) : 588.77 727.06 120.88 591.50 135.56 1999/00 (Proj.) : February : 584.80 720.36 125.26 593.13 127.23 March : 585.59 721.14 125.36 594.28 126.86 Coarse grains 4/ : 1997/98 : 883.23 1,011.85 100.00 875.68 136.17 1998/99 (Est.) : 892.04 1,028.21 106.85 872.60 155.61 1999/00 (Proj.) : February : 873.14 1,028.94 113.58 880.77 148.18 March : 872.66 1,028.26 114.03 880.50 147.76 Rice, milled : 1997/98 : 386.88 438.19 26.97 383.29 54.90 1998/99 (Est.) : 393.75 448.64 26.83 390.44 58.20 1999/00 (Proj.) : February : 397.42 456.09 23.60 396.68 59.41 March : 398.32 456.53 23.52 397.27 59.26 : : United States Total grains 3/ : 1997/98 : 333.71 379.47 76.30 244.48 58.69 1998/99 (Est.) : 346.71 411.61 87.00 246.80 77.81 1999/00 (Proj.) : February : 332.67 416.16 87.22 251.08 77.86 March : 332.67 416.27 87.25 251.08 77.94 Wheat : 1997/98 : 67.53 82.19 28.32 34.21 19.66 1998/99 (Est.) : 69.33 91.79 28.37 37.68 25.74 1999/00 (Proj.) : February : 62.66 90.99 28.58 35.27 27.14 March : 62.66 90.99 28.58 35.27 27.14 Coarse grains 4/ : 1997/98 : 260.43 290.37 45.25 206.97 38.15 1998/99 (Est.) : 271.47 312.69 55.95 205.37 51.37 1999/00 (Proj.) : February : 263.38 317.50 55.93 212.13 49.44 March : 263.38 317.61 55.94 212.13 49.55 Rice, milled : 1997/98 : 5.75 6.91 2.73 3.30 0.88 1998/99 (Est.) : 5.91 7.12 2.68 3.75 0.69 1999/00 (Proj.) : February : 6.64 7.67 2.71 3.68 1.28 March : 6.64 7.67 2.74 3.68 1.25 =============================================================================== 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-360-7 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/ : 1997/98 : 1,545.75 1,793.42 175.71 1,599.06 270.66 1998/99 (Est.) : 1,527.85 1,792.30 167.56 1,607.75 271.55 1999/00 (Proj.) : February : 1,522.68 1,789.24 175.23 1,619.49 256.96 March : 1,523.90 1,789.66 175.65 1,620.97 255.95 Wheat : 1997/98 : 541.82 640.66 96.73 550.35 118.62 1998/99 (Est.) : 519.44 635.27 92.51 553.82 109.81 1999/00 (Proj.) : February : 522.13 629.37 96.69 557.86 100.08 March : 522.93 630.15 96.79 559.01 99.72 Coarse grains 5/ : 1997/98 : 622.80 721.48 54.75 668.72 98.02 1998/99 (Est.) : 620.57 715.51 50.91 667.23 104.23 1999/00 (Proj.) : February : 609.76 711.44 57.65 668.63 98.74 March : 609.28 710.65 58.09 668.37 98.22 Rice, milled : 1997/98 : 381.13 431.28 24.23 379.99 54.02 1998/99 (Est.) : 387.84 441.52 24.15 386.70 57.51 1999/00 (Proj.) : February : 390.78 448.42 20.89 393.00 58.14 March : 391.69 448.86 20.78 393.59 58.01 =============================================================================== 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 1997/98 : 91.63 129.82 26.65 88.39 40.77 1998/99 (Est.) : 84.54 125.31 23.65 85.22 41.74 1999/00 (Proj.) : February : 86.92 128.66 26.53 88.54 40.28 March : 86.87 128.61 26.71 88.96 39.94 : United States 1997/98 : 18.79 22.78 7.50 11.35 3.89 1998/99 (Est.) : 13.92 18.25 4.34 10.40 3.94 1999/00 (Proj.) : February : 16.95 20.97 6.40 10.20 4.40 March : 16.95 20.99 6.50 10.10 4.40 : Foreign 3/ 1997/98 : 72.84 107.04 19.15 77.04 36.89 1998/99 (Est.) : 70.62 107.06 19.31 74.82 37.80 1999/00 (Proj.) : February : 69.97 107.69 20.13 78.34 35.88 March : 69.92 107.62 20.21 78.86 35.54 =============================================================================== 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-360-8 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 : 1997/98 : 286.99 304.07 53.98 227.57 24.71 1998/99 (Est.) : 292.79 317.52 54.09 238.92 28.04 1999/00 (Proj.) : February : 295.46 323.34 57.74 246.21 25.97 March : 295.75 323.82 58.99 246.07 25.78 Oilmeals : 1997/98 : 155.16 161.00 51.85 155.16 5.71 1998/99 (Est.) : 163.56 169.27 54.18 162.42 6.37 1999/00 (Proj.) : February : 168.09 174.44 54.88 167.48 5.78 March : 168.13 174.50 54.65 167.74 5.81 Vegetable Oils : 1997/98 : 76.56 84.04 29.91 76.12 7.20 1998/99 (Est.) : 81.79 88.99 31.47 80.93 7.77 1999/00 (Proj.) : February : 85.84 93.58 32.34 85.08 8.21 March : 85.65 93.41 31.87 84.93 8.32 : : United States Oilseeds : 1997/98 : 83.10 88.42 24.52 48.89 6.44 1998/99 (Est.) : 84.36 91.49 22.63 47.81 10.78 1999/00 (Proj.) : February : 82.10 93.44 25.14 48.51 10.58 March : 82.10 93.43 25.66 48.42 10.03 Oilmeals : 1997/98 : 37.42 39.01 8.70 30.01 0.30 1998/99 (Est.) : 36.81 38.34 6.71 31.30 0.33 1999/00 (Proj.) : February : 37.21 38.87 6.60 31.97 0.30 March : 37.17 38.70 6.60 31.80 0.30 Vegetable Oils : 1997/98 : 9.60 12.22 2.13 9.10 0.99 1998/99 (Est.) : 9.54 11.97 1.74 9.22 1.01 1999/00 (Proj.) : February : 9.59 12.25 1.42 9.54 1.28 March : 9.58 12.16 1.35 9.52 1.29 : : Foreign 3/ Oilseeds : 1997/98 : 203.89 215.65 29.46 178.68 18.27 1998/99 (Est.) : 208.42 226.03 31.46 191.11 17.26 1999/00 (Proj.) : February : 213.36 229.90 32.60 197.70 15.39 March : 213.65 230.38 33.33 197.65 15.76 Oilmeals : 1997/98 : 117.74 121.99 43.15 125.15 5.41 1998/99 (Est.) : 126.75 130.93 47.47 131.12 6.03 1999/00 (Proj.) : February : 130.88 135.57 48.29 135.51 5.48 March : 130.96 135.80 48.05 135.94 5.51 Vegetable Oils : 1997/98 : 66.96 71.82 27.78 67.03 6.21 1998/99 (Est.) : 72.25 77.02 29.73 71.70 6.76 1999/00 (Proj.) : February : 76.25 81.33 30.91 75.54 6.93 March : 76.07 81.26 30.52 75.41 7.03 =============================================================================== 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-360-9 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :============================== : : Est. : February March =============================================================================== Area : Million acres Planted : 70.4 65.8 62.8 62.8 Harvested : 62.8 59.0 53.9 53.9 Yield per harvested : Bushels acre : 39.5 43.2 42.7 42.7 : Million bushels Beginning stocks : 444 722 946 946 Production : 2,481 2,547 2,302 2,302 Imports : 95 103 95 95 Supply, total : 3,020 3,373 3,343 3,343 Food : 914 907 905 905 Seed : 92 81 91 91 Feed and residual : 251 397 300 300 Domestic, total : 1,257 1,384 1,296 1,296 Exports : 1,040 1,042 1,050 1,050 Use, total : 2,298 2,427 2,346 2,346 Ending stocks : 722 946 997 997 CCC inventory : 94 128 100 100 Free stocks : 628 818 897 897 Avg. farm price ($/bu) 2/ : 3.38 2.65 2.50- 2.60 2.45- 2.55 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 1998/99 (estimated) : Million bushels Beginning stocks : 307 220 80 90 26 722 Production : 1,179 486 443 301 138 2,547 Supply, total 3/ : 1,487 765 523 401 197 3,373 Domestic use : 599 284 282 116 103 1,384 Exports : 453 247 105 198 40 1,042 Use, total : 1,052 532 387 314 143 2,427 Ending stocks, total : 435 233 136 87 55 946 : 1999/00 (projected) : Beginning stocks : 435 233 136 87 55 946 Production : 1,055 448 453 247 99 2,302 Supply, total 3/ : 1,491 736 589 341 186 3,343 Domestic use : 539 294 283 96 84 1,296 Exports : 485 215 160 150 40 1,050 Use, total : 1,024 510 443 246 124 2,346 Ending stocks, total : March : 467 226 147 94 63 997 February : 462 221 157 94 63 997 =============================================================================== 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-360-10 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :============================== : : Est. : February March =============================================================================== FEED GRAINS : Area : Million acres Planted : 101.4 101.0 96.6 96.6 Harvested : 90.8 88.9 86.3 86.3 Yield per harvested : Metric tons acre : 2.87 3.05 3.05 3.05 : Million metric tons Beginning stocks : 27.0 38.1 51.3 51.3 Production : 260.2 271.2 263.1 263.1 Imports : 2.8 3.0 2.6 2.8 Supply, total : 290.0 312.3 317.1 317.2 Feed and residual : 154.8 152.5 156.9 156.9 Food, seed & industrial : 51.8 52.5 54.8 54.8 Domestic, total : 206.6 205.0 211.7 211.7 Exports : 45.3 55.9 55.9 55.9 Use, total : 251.9 261.0 267.7 267.7 Ending stocks, total : 38.1 51.3 49.4 49.5 CCC inventory : 0.1 0.3 0.4 0.4 Free stocks : 38.0 51.0 49.0 49.1 Outstanding loans : 8.5 10.3 9.1 9.1 : CORN : Area : Million acres Planted : 79.5 80.2 77.4 77.4 Harvested : 72.7 72.6 70.5 70.5 Yield per harvested : Bushels acre : 126.7 134.4 133.8 133.8 : Million bushels Beginning stocks : 883 1,308 1,787 1,787 Production : 9,207 9,759 9,437 9,437 Imports : 9 19 15 15 Supply, total : 10,099 11,085 11,239 11,239 Feed and residual : 5,505 5,496 5,650 5,650 Food, seed & industrial : 1,782 1,822 1,900 1,900 Domestic, total : 7,287 7,318 7,550 7,550 Exports : 1,504 1,981 1,950 1,950 Use, total : 8,791 9,298 9,500 9,500 Ending stocks, total : 1,308 1,787 1,739 1,739 CCC inventory : 4 12 15 15 Free stocks : 1,304 1,775 1,724 1,724 Outstanding loans : 310 391 350 350 Avg. farm price ($/bu) 2/ : 2.43 1.94 1.75- 2.05 1.85- 1.95 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. WASDE-360-11 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :============================== : : Est. : February March =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 10.1 9.6 9.3 9.3 Area harv. (mil. acres) : 9.2 7.7 8.5 8.5 Yield (bushels/acre) : 69.2 67.3 69.7 69.7 Beginning stocks : 47 49 65 65 Production : 634 520 595 595 Imports : 0 0 0 0 Supply, total : 681 569 660 660 Feed and residual : 365 262 325 325 Food, seed & industrial : 55 45 55 55 Total domestic : 420 307 380 380 Exports : 212 197 225 225 Use, total : 632 504 605 605 Ending stocks, total : 49 65 55 55 Avg. farm price ($/bu) 2/ : 2.21 1.66 1.50- 1.80 1.55- 1.65 : BARLEY : Area planted (mil. acres) : 6.7 6.3 5.2 5.2 Area harv. (mil. acres) : 6.2 5.9 4.8 4.8 Yield (bushels/acre) : 58.1 60.0 59.2 59.2 Beginning stocks : 109 119 142 142 Production : 360 352 282 282 Imports : 40 30 25 30 Supply, total : 510 501 449 454 Feed and residual : 144 161 125 125 Food, seed & industrial : 172 170 172 172 Total domestic : 316 331 297 297 Exports : 74 28 30 30 Use, total : 390 360 327 327 Ending stocks, total : 119 142 122 127 Avg. farm price ($/bu) 2/ : 2.38 1.98 2.05- 2.15 2.05- 2.15 : OATS : Area planted (mil. acres) : 5.1 4.9 4.7 4.7 Area harv. (mil. acres) : 2.8 2.8 2.5 2.5 Yield (bushels/acre) : 59.5 60.2 59.6 59.6 Beginning stocks : 67 74 81 81 Production : 167 166 146 146 Imports : 98 108 100 100 Supply, total : 332 348 328 328 Feed and residual : 161 170 150 150 Food, seed & industrial : 95 95 96 96 Total domestic : 256 265 246 246 Exports : 2 2 2 2 Use, total : 258 266 248 248 Ending stocks, total : 74 81 80 80 Avg. farm price ($/bu) 2/ : 1.60 1.10 1.05- 1.15 1.05- 1.15 =============================================================================== 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-360-12 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :============================== : : Est. : February March =============================================================================== TOTAL : Area : Million acres Planted : 3.13 3.35 3.58 3.58 Harvested : 3.10 3.32 3.56 3.56 Yield per harvested : Pounds acre : 5,897 5,669 5,908 5,908 : Million hundredweight Beginning stocks 2/ : 27.2 27.9 22.1 22.1 Production : 183.0 188.1 210.5 210.5 Imports : 9.2 10.5 10.8 10.8 Supply, total : 219.4 226.5 243.3 243.3 Domestic & residual 3/ : 104.6 119.1 116.7 116.7 Exports, total 4/ : 86.9 85.3 86.0 87.0 Rough : 26.1 25.8 20.0 21.0 Milled (rough equiv.) : 60.8 59.6 66.0 66.0 Use, total : 191.5 204.4 202.7 203.7 Ending stocks : 27.9 22.1 40.6 39.6 Avg. farm price ($/cwt) 5/ : 9.70 8.89 5.75- 6.25 5.80- 6.20 : LONG GRAIN : Harvested acres (mil.) : 2.31 2.61 2.74 2.74 Yield (pounds/acre) : 5,391 5,430 5,629 5,629 Beginning stocks : 14.1 14.5 14.1 14.1 Production : 124.5 141.6 154.1 154.1 Supply, total 6/ : 146.6 164.7 177.7 177.7 Domestic & Residual 3/ : 60.5 79.9 76.7 76.7 Exports 7/ : 71.6 70.7 69.5 70.5 Use, total : 132.1 150.6 146.2 147.2 Ending stocks : 14.5 14.1 31.5 30.5 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.79 0.71 0.82 0.82 Yield (pounds/acre) : 7,369 6,548 6,835 6,835 Beginning stocks : 12.1 12.3 6.8 6.8 Production : 58.5 46.4 56.3 56.3 Supply, total 6/ : 71.7 60.7 64.3 64.3 Domestic & Residual 3/ : 44.1 39.2 40.0 40.0 Exports 7/ : 15.4 14.6 16.5 16.5 Use, total : 59.4 53.9 56.5 56.5 Ending stocks : 12.3 6.8 7.8 7.8 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning August 1. Average milling yield used by year (in percent): 1997/98-69.3; 1998/99-69.3; 1999/00-69.5. 2/ Includes the following quantities of broken kernel rice (type undetermined) not included in estimates of beginning stocks by type (in mil. cwt): 1997/98-1.0; 1998/99-1.0; 1999/00-1.2. 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/ Marketing-year weighted average price received by farmers. 6/ Includes imports. 7/ Exports by type of rice are estimated. WASDE-360-13 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :=============================== : : Est. : February March =============================================================================== SOYBEANS: : Million acres Area : Planted : 70.0 72.0 73.8 73.8 Harvested : 69.1 70.4 72.5 72.5 : : Bushels Yield per harvested : acre : 38.9 38.9 36.5 36.5 : : Million bushels : Beginning stocks : 132 200 348 348 Production : 2,689 2,741 2,643 2,643 Imports : 5 3 3 3 Supply, total : 2,826 2,944 2,994 2,994 Crushings : 1,597 1,590 1,600 1,600 Exports : 873 801 890 910 Seed : 86 89 90 90 Residual : 70 116 69 69 Use, total : 2,626 2,595 2,649 2,669 Ending stocks : 200 348 345 325 Avg. farm price ($/bu) 2/ : 6.47 4.93 4.50- 5.00 4.50 - 4.90 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,520 1,382 1,520 1,520 Production : 18,143 18,081 _3/ 18,080 18,080 Imports : 60 82 80 80 Supply, total : 19,723 19,546 19,680 19,680 Domestic : 15,262 15,655 15,900 16,000 Exports : 3,079 2,372 1,650 1,550 Use, total : 18,341 18,027 17,550 17,550 Ending stocks : 1,382 1,520 2,130 2,130 Average price (c/lb) 2/ : 25.84 19.90 15.00- 14.50- : 17.00 16.50 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 210 218 330 330 Production : 38,176 37,792 _3/ 38,045 38,045 Imports : 56 99 50 50 Supply, total : 38,443 38,109 38,425 38,425 Domestic : 28,895 30,662 31,150 31,150 Exports : 9,329 7,117 7,000 7,000 Use, total : 38,225 37,779 38,150 38,150 Ending stocks : 218 330 275 275 Average price ($/s.t.) 2/ : 185.54 138.50 145.00- 150.00- : 165.00 170.00 =============================================================================== 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. 3/ Based on October year crush estimate of 1,599.6 million bushels. WASDE-360-14 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :====================== : : Estimate : February March ====================================================================== : 1,000 short tons, raw value Beginning stocks 2/ : 1,488 1,679 1,639 1,639 Production 2/3/ : 8,020 8,374 8,913 9,028 Beet sugar : 4,389 4,423 4,800 4,900 Cane sugar 4/ : 3,631 3,951 4,113 4,128 Imports 2/ : 2,163 1,824 1,795 1,798 TRQ 5/ : 1,729 1,256 1,225 1,225 Other 6/ : 434 568 570 573 Total supply : 11,671 11,877 12,347 12,465 : Exports 2/7/ : 179 230 250 250 Domestic deliveries 2/ : 9,815 10,066 10,250 10,250 Domestic food use : 9,672 9,872 10,053 10,053 Other 8/ : 143 194 197 197 Miscellaneous 9/ : (2) (58) 0 0 Use, total : 9,992 10,238 10,500 10,500 Ending stocks 2/ : 1,679 1,639 1,847 1,965 : Stocks to use ratio : 16.8 16.0 17.6 18.7 ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. 2/ Historical data are from FSA, "Sweetener Market Data" except imports from U.S. Customs Service. 3/ Projections for 1999/2000 are based on March Crop Production and analyses by the Interagency Commodity Estimates Committee for sugar. 4/ Production by state for 1998/99 (projected 1999/2000): FL 2,132 (1,980); HI 384 (360); LA 1,327 (1,680); TX 106 (103); PR 3 (5). 5/ 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. The 1999/2000 available TRQ includes projected shortfall of 65,000 tons. 6/ Quota exempt imports (for reexport, for polyhydric alcohol, sugar syrup under USHTS 1702904000, and high-duty). 7/ Mostly reexports. 8/ Transfer to sugar containing products for reexport, for nonedible alcohol, and feed. 9/ Residual. METRIC CONVERSION FACTORS 1 Hectare = 2.4710 Acres 1 Kilogram = 2.205 Pounds --------------------------------------------------------------------- 1 Metric Ton : = Domestic Unit * Factor --------------------------------------------------------------------- Wheat & Soybeans : = bushels * .027216 Rice : = cwt * .045359 Rapeseed & Sunflowerseed : = cwt * .045359 Corn, Sorghum & Rye : = bushels * .025401 Barley : = bushels * .021772 Oats : = bushels * .014515 Sugar : = short tons * .907185 Cotton : = 480-lb bales * .217720 --------------------------------------------------------------------- WASDE-360-15 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :=============================== : : Est. : February March =============================================================================== : Million acres Area : Planted : 13.90 13.39 14.86 14.86 Harvested : 13.41 10.68 13.38 13.38 : : Pounds Yield per harvested : acre : 673 625 608 608 : : Million 480 pound bales : Beginning stocks 2/ : 3.97 3.89 3.94 3.94 Production : 18.79 13.92 16.95 16.95 Imports : 0.01 0.44 0.08 0.10 Supply, total : 22.78 18.25 20.97 20.99 Domestic use : 11.35 10.40 10.20 10.10 Exports : 7.50 4.34 6.40 6.50 Use, total : 18.85 14.75 16.60 16.60 Unaccounted 3/ : 0.04 -0.44 -0.03 -0.01 Ending stocks : 3.89 3.94 4.40 4.40 : Avg. farm price 4/ : 65.2 60.2 44.4 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/ Weighted average for August 1999-January 2000; 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 1999/2000 is 25.5 percent. WASDE-360-16 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1997/98 : World 3/ : 113.49 609.36 124.96 104.49 584.56 125.05 138.29 United States : 12.07 67.53 2.58 6.82 34.21 28.32 19.66 Total foreign : 101.42 541.82 122.38 97.67 550.35 96.73 118.62 Major exporters 4/ : 26.01 152.68 25.99 47.94 100.22 82.18 22.28 Argentina : 0.80 14.80 0.03 0.35 4.55 10.67 0.42 Australia : 2.40 19.42 0.05 2.76 5.17 15.34 1.35 Canada : 9.05 24.28 0.13 3.35 7.32 20.13 6.01 EU-15 : 13.76 94.18 25.78 41.48 83.19 36.03 14.50 Major importers 5/ : 39.61 187.28 38.32 18.64 210.18 4.84 50.19 Brazil : 0.58 2.38 6.27 0.00 8.67 0.00 0.55 China : 24.17 123.39 1.92 5.00 114.85 1.16 33.46 East. Europe : 6.00 34.35 1.93 12.03 31.84 3.10 7.34 N. Africa : 5.12 9.95 17.87 0.31 28.34 0.19 4.41 Pakistan : 2.70 16.65 4.13 0.35 20.26 0.01 3.21 Selected other : India : 7.00 69.35 1.73 0.35 68.00 0.00 10.08 FSU-12 6/ : 8.25 80.34 6.33 24.53 71.93 5.95 17.04 Russia : 1.60 44.20 3.09 16.40 39.91 0.98 8.00 Kazakstan : 2.25 8.95 0.02 1.25 4.79 3.43 3.00 : : 1998/99 (Estimated) : World 3/ : 138.29 588.77 120.06 107.20 591.50 120.88 135.56 United States : 19.66 69.33 2.80 10.79 37.68 28.37 25.74 Total foreign : 118.62 519.44 117.26 96.41 553.82 92.51 109.81 Major exporters 4/ : 22.28 161.26 25.40 52.41 105.02 74.83 29.09 Argentina : 0.42 12.00 0.03 0.10 3.95 8.20 0.30 Australia : 1.35 22.11 0.06 2.79 5.11 16.00 2.40 Canada : 6.01 24.08 0.15 4.22 8.16 14.71 7.37 EU-15 : 14.50 103.07 25.17 45.31 87.80 35.93 19.02 Major importers 5/ : 50.19 179.11 35.70 19.21 213.80 4.78 46.41 Brazil : 0.55 2.20 7.00 0.20 9.20 0.00 0.55 China : 33.46 109.73 0.82 5.00 115.64 0.44 27.92 East. Europe : 7.34 33.74 2.17 12.35 32.64 3.77 6.84 N. Africa : 4.41 14.18 16.72 0.31 28.79 0.17 6.36 Pakistan : 3.21 18.69 3.10 0.40 21.26 0.00 3.75 Selected other : India : 10.08 66.35 1.99 0.35 67.34 0.00 11.08 FSU-12 6/ : 17.04 56.04 5.40 17.07 64.88 8.05 5.54 Russia : 8.00 26.90 2.50 11.15 35.18 1.22 1.00 Kazakstan : 3.00 4.70 0.02 1.10 4.64 2.28 0.80 =============================================================================== 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-15 (includes intra-trade). 5/ Algeria, Brazil, China, Eastern Europe, Egypt, Japan, Libya, Morocco, Pakistan, and Tunisia. 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-360-17 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: =============================================================================== : : 1999/00 (Projected) World 3/ : February : 135.57 584.80 124.48 104.32 593.13 125.26 127.23 March : 135.56 585.59 124.69 105.02 594.28 125.36 126.86 United States : February : 25.74 62.66 2.59 8.17 35.27 28.58 27.14 March : 25.74 62.66 2.59 8.17 35.27 28.58 27.14 Total foreign : February : 109.82 522.13 121.89 96.16 557.86 96.69 100.08 March : 109.81 522.93 122.11 96.86 559.01 96.79 99.72 Major exporters 4/ : February : 29.09 161.74 25.18 54.55 106.93 83.48 25.59 March : 29.09 162.78 25.18 55.05 107.48 83.48 26.09 Argentina Feb : 0.30 14.50 0.03 0.30 4.50 10.00 0.33 Mar : 0.30 14.50 0.03 0.30 4.50 10.00 0.33 Australia Feb : 2.40 23.50 0.05 2.80 5.13 18.50 2.33 Mar : 2.40 24.50 0.05 3.30 5.63 18.50 2.83 Canada Feb : 7.37 26.85 0.15 4.50 8.45 18.50 7.42 Mar : 7.37 26.85 0.15 4.50 8.45 18.50 7.42 EU-15 Feb : 19.02 96.89 24.95 46.95 88.86 36.48 15.53 Mar : 19.02 96.93 24.95 46.95 88.90 36.48 15.53 Major importers 5/ : February : 46.41 176.09 34.75 17.81 214.31 3.37 39.58 March : 46.41 176.18 33.85 17.91 214.39 3.37 38.68 Brazil Feb : 0.55 2.35 7.00 0.10 9.35 0.00 0.55 Mar : 0.55 2.44 7.00 0.20 9.44 0.00 0.55 China Feb : 27.92 115.00 0.70 5.00 117.00 0.50 26.12 Mar : 27.92 115.00 0.70 5.00 117.00 0.50 26.12 East. Europe Feb : 6.84 28.93 2.25 11.05 31.14 2.30 4.58 Mar : 6.84 28.93 2.25 11.05 31.14 2.30 4.58 N. Africa Feb : 6.36 11.36 15.90 0.31 29.01 0.17 4.44 Mar : 6.36 11.36 15.70 0.31 29.01 0.17 4.24 Pakistan Feb : 3.75 17.85 3.00 0.40 21.60 0.00 3.00 Mar : 3.75 17.85 2.30 0.40 21.60 0.00 2.30 Selected other : India Feb : 11.08 70.78 1.70 0.35 69.25 0.20 14.11 Mar : 11.08 70.78 1.70 0.35 69.25 0.20 14.11 FSU-12 6/ Feb : 5.54 64.81 8.04 17.38 65.09 7.00 6.31 Mar : 5.54 64.81 8.34 17.38 65.39 7.00 6.31 Russia Feb : 1.00 31.00 4.50 11.30 35.20 0.30 1.00 Mar : 1.00 31.00 4.80 11.30 35.50 0.30 1.00 Kazakstan Feb : 0.80 11.20 0.02 1.50 5.00 4.50 2.52 Mar : 0.80 11.20 0.02 1.50 5.00 4.50 2.52 =============================================================================== 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-15 (includes intra-trade). 5/ Algeria, Brazil, China, Eastern Europe, Egypt, Japan, Libya, Morocco, Pakistan, and Tunisia. 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-360-18 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: =============================================================================== : : 1997/98 : World 3/ : 128.63 883.23 98.98 583.22 875.68 100.00 136.17 United States : 27.01 260.43 2.94 154.98 206.97 45.25 38.15 Total foreign : 101.62 622.80 96.04 428.24 668.72 54.75 98.02 Major exporters 4/ : 9.07 67.49 1.87 36.76 47.07 22.06 9.31 Argentina : 1.11 24.67 0.07 7.72 9.85 13.70 2.30 Australia : 0.67 9.52 0.00 4.49 5.72 3.34 1.14 Canada : 4.85 25.12 1.52 19.96 23.46 3.75 4.27 Major importers 5/ : 27.81 207.27 62.95 173.40 235.79 22.03 40.22 EU-15 : 12.21 109.43 16.33 74.64 98.03 18.05 21.89 East. Europe : 5.17 58.97 1.21 41.71 53.27 3.02 9.05 Japan : 2.12 0.20 20.98 16.24 20.66 0.00 2.64 Mexico : 3.70 23.11 7.98 16.34 31.58 0.36 2.85 Southeast Asia : 1.24 13.18 3.29 11.46 16.15 0.61 0.94 South Korea : 0.86 0.35 7.60 6.06 8.31 0.00 0.50 Selected other : China : 46.54 114.65 1.54 93.83 129.43 6.20 27.10 FSU-12 6/ : 3.17 67.86 0.49 36.39 56.34 3.08 12.09 Russia : 1.20 40.85 0.31 21.67 33.52 1.57 7.27 Ukraine : 1.13 15.46 0.01 6.82 12.21 1.12 3.26 : : 1998/99 (Estimated) : World 3/ : 136.17 892.04 109.27 578.05 872.60 106.85 155.61 United States : 38.15 271.47 3.07 152.62 205.37 55.95 51.37 Total foreign : 98.01 620.57 106.20 425.43 667.23 50.91 104.23 Major exporters 4/ : 9.31 62.02 1.54 36.98 46.96 17.10 8.82 Argentina : 2.30 17.74 0.05 7.90 10.00 8.48 1.62 Australia : 1.14 9.60 0.00 4.53 5.37 4.72 0.66 Canada : 4.27 26.57 0.83 19.93 23.37 3.21 5.09 Major importers 5/ : 40.21 199.60 65.65 174.26 237.93 26.39 41.15 EU-15 : 21.89 105.39 17.54 73.30 96.56 23.18 25.09 East. Europe : 9.05 51.13 1.57 40.98 52.37 2.92 6.46 Japan : 2.64 0.15 20.92 16.57 21.27 0.00 2.44 Mexico : 2.85 24.54 9.09 17.52 33.63 0.05 2.80 Southeast Asia : 0.94 15.94 3.23 13.10 18.21 0.25 1.65 South Korea : 0.50 0.49 7.78 6.07 8.29 0.00 0.48 Selected other : China : 27.10 145.10 2.72 96.05 131.50 3.36 40.07 FSU-12 6/ : 12.09 37.84 1.75 26.06 45.20 2.03 4.45 Russia : 7.27 18.95 1.47 13.72 25.72 0.20 1.77 Ukraine : 3.26 10.45 0.00 5.93 10.97 1.24 1.51 =============================================================================== 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 South Africa. 5/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, South Korea, Taiwan, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-360-19 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: =============================================================================== : : 1999/00 (Projected) World 3/ : February : 155.81 873.14 109.56 577.09 880.77 113.58 148.18 March : 155.61 872.66 109.59 576.82 880.50 114.03 147.76 United States : February : 51.37 263.38 2.75 157.09 212.13 55.93 49.44 March : 51.37 263.38 2.86 157.09 212.13 55.94 49.55 Total foreign : February : 104.44 609.76 106.81 420.00 668.63 57.65 98.74 March : 104.23 609.28 106.73 419.72 668.37 58.09 98.22 Major exporters 4/ : February : 8.77 64.06 1.35 36.05 47.07 18.22 8.89 March : 8.82 64.28 1.35 35.56 47.00 18.52 8.93 Argentina Feb : 1.62 19.90 0.05 8.10 10.41 9.58 1.58 Mar : 1.62 19.90 0.05 8.10 10.41 9.58 1.58 Australia Feb : 0.66 8.01 0.00 4.01 4.89 3.12 0.66 Mar : 0.66 7.71 0.00 3.51 4.29 3.42 0.66 Canada Feb : 5.09 26.77 1.05 19.30 23.93 4.03 4.95 Mar : 5.09 26.77 1.05 19.30 23.93 4.03 4.95 Major importers 5/ : February : 41.16 198.66 65.90 177.12 239.56 28.18 37.98 March : 41.15 198.71 66.17 177.40 239.86 28.18 38.00 EU-15 Feb : 25.09 103.08 16.71 73.31 96.88 24.91 23.08 Mar : 25.09 103.05 16.71 73.30 96.87 24.91 23.06 East. Europe Feb : 6.47 51.78 1.36 39.75 50.67 3.02 5.91 Mar : 6.46 51.86 1.36 39.78 50.72 3.02 5.94 Japan Feb : 2.44 0.16 20.44 16.24 20.74 0.00 2.30 Mar : 2.44 0.16 20.64 16.44 20.94 0.00 2.30 Mexico Feb : 2.80 26.18 8.75 19.28 34.73 0.05 2.95 Mar : 2.80 26.18 8.80 19.33 34.78 0.05 2.95 Southeast Asia Feb : 1.65 15.06 3.63 14.07 18.79 0.20 1.34 Mar : 1.65 15.06 3.65 14.09 18.82 0.20 1.34 South Korea Feb : 0.48 0.49 9.41 7.41 9.86 0.00 0.52 Mar : 0.48 0.49 9.41 7.41 9.86 0.00 0.52 Selected other : China Feb : 40.12 139.10 3.05 97.87 134.32 8.03 39.92 Mar : 40.07 139.10 2.95 97.87 134.22 8.03 39.87 FSU-12 6/ Feb : 4.53 40.87 1.61 18.38 41.17 2.06 3.78 Mar : 4.45 40.87 1.47 18.38 40.88 2.20 3.71 Russia Feb : 1.77 21.80 1.37 6.47 23.87 0.25 0.82 Mar : 1.77 21.80 1.18 6.47 23.68 0.25 0.82 Ukraine Feb : 1.59 9.95 0.00 6.07 9.46 1.01 1.07 Mar : 1.51 9.95 0.00 6.07 9.31 1.15 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 marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and South Africa. 5/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, South Korea, Taiwan, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-360-20 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1997/98 : World 3/ : 92.87 575.25 71.17 407.53 581.27 71.48 86.86 United States : 22.43 233.86 0.22 139.83 185.09 38.21 33.22 Total foreign : 70.44 341.39 70.95 267.70 396.18 33.27 53.64 Major exporters 4/ : 3.20 27.05 0.10 9.04 13.74 13.47 3.14 Argentina : 0.75 19.36 0.00 4.80 6.35 12.22 1.54 South Africa : 2.45 7.69 0.10 4.24 7.39 1.25 1.60 Major importers 5/ : 13.61 101.20 47.35 94.95 132.96 12.40 16.81 EU-15 : 3.28 38.52 10.27 30.74 38.96 8.74 4.37 Japan : 0.93 0.00 16.42 11.80 15.90 0.00 1.45 Mexico : 2.45 16.93 4.38 7.15 21.90 0.36 1.50 Southeast Asia : 1.24 12.98 3.28 11.27 15.95 0.61 0.94 South Korea : 0.86 0.09 7.53 6.05 7.98 0.00 0.50 Selected other : China : 45.00 104.30 0.29 91.00 117.41 6.17 26.00 FSU-12 6/ : 0.97 10.66 0.23 5.40 8.52 0.66 2.68 Russia : 0.16 2.70 0.12 1.46 2.40 0.02 0.56 : : 1998/99 (Estimated) : World 3/ : 86.86 605.87 76.62 409.11 583.47 75.56 109.25 United States : 33.22 247.88 0.48 139.60 185.88 50.31 45.39 Total foreign : 53.64 357.99 76.15 269.51 397.59 25.25 63.86 Major exporters 4/ : 3.14 21.20 0.50 9.25 14.15 8.50 2.19 Argentina : 1.54 13.50 0.00 4.90 6.50 7.80 0.74 South Africa : 1.60 7.70 0.50 4.35 7.65 0.70 1.45 Major importers 5/ : 16.81 94.24 50.22 94.74 133.99 11.67 15.61 EU-15 : 4.37 35.11 11.77 29.83 37.85 8.93 4.47 Japan : 1.45 0.00 16.34 12.10 16.44 0.00 1.36 Mexico : 1.50 17.60 5.61 7.51 23.01 0.05 1.65 Southeast Asia : 0.94 15.74 3.23 12.91 18.01 0.25 1.65 South Korea : 0.50 0.08 7.52 5.92 7.62 0.00 0.48 Selected other : China : 26.00 132.95 0.27 93.02 117.27 3.34 38.62 FSU-12 6/ : 2.68 5.29 0.70 4.32 6.94 0.40 1.33 Russia : 0.56 0.80 0.65 1.15 1.85 0.00 0.16 =============================================================================== 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/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, South Korea, Taiwan, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-360-21 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: =============================================================================== : : 1999/00 (Projected) World 3/ : February : 109.32 599.93 76.58 423.23 600.87 80.34 108.38 March : 109.25 600.72 76.51 423.22 601.35 80.34 108.63 United States : February : 45.39 239.72 0.38 143.52 191.78 49.53 44.18 March : 45.39 239.72 0.38 143.52 191.78 49.53 44.18 Total foreign : February : 63.93 360.21 76.20 279.71 409.09 30.81 64.20 March : 63.86 361.00 76.13 279.70 409.57 30.81 64.45 Major exporters 4/ : February : 2.14 24.50 0.10 9.45 14.10 10.20 2.44 March : 2.19 25.00 0.10 9.45 14.60 10.20 2.49 Argentina Feb : 0.74 15.50 0.00 5.00 6.80 8.70 0.74 Mar : 0.74 15.50 0.00 5.00 6.80 8.70 0.74 South Africa Feb : 1.40 9.00 0.10 4.45 7.30 1.50 1.70 Mar : 1.45 9.50 0.10 4.45 7.80 1.50 1.75 Major importers 5/ : February : 15.61 99.15 50.04 99.60 137.76 11.09 15.95 March : 15.61 99.36 50.06 99.67 137.83 11.09 16.11 EU-15 Feb : 4.47 37.02 10.69 30.92 39.02 8.11 5.04 Mar : 4.47 37.15 10.69 30.92 39.02 8.11 5.17 Japan Feb : 1.36 0.00 16.25 12.15 16.35 0.00 1.26 Mar : 1.36 0.00 16.25 12.15 16.35 0.00 1.26 Mexico Feb : 1.65 19.00 5.00 8.35 23.40 0.05 2.20 Mar : 1.65 19.00 5.00 8.35 23.40 0.05 2.20 Southeast Asia Feb : 1.65 14.86 3.63 13.88 18.59 0.20 1.34 Mar : 1.65 14.86 3.65 13.90 18.62 0.20 1.34 South Korea Feb : 0.48 0.09 9.00 7.10 9.05 0.00 0.52 Mar : 0.48 0.09 9.00 7.10 9.05 0.00 0.52 Selected other : China Feb : 38.62 128.00 0.25 95.00 119.95 8.00 38.92 Mar : 38.62 128.00 0.25 95.00 119.95 8.00 38.92 FSU-12 6/ Feb : 1.33 5.46 0.75 4.48 6.20 0.25 1.10 Mar : 1.33 5.46 0.75 4.48 6.20 0.25 1.10 Russia Feb : 0.16 1.10 0.70 1.15 1.85 0.00 0.11 Mar : 0.16 1.10 0.70 1.15 1.85 0.00 0.11 =============================================================================== 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/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, South Korea, Taiwan, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-360-22 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 : =============================================================================== : : 1997/98 World 3/ : 51.31 386.88 24.72 383.29 26.97 54.90 United States : 0.87 5.75 0.29 3.30 2.73 0.88 Total foreign : 50.44 381.13 24.43 379.99 24.23 54.02 Major exporters 4/ : 10.65 121.48 0.01 104.92 15.54 11.67 Thailand : 0.71 15.51 0.00 8.80 6.37 1.05 Vietnam : 0.00 19.09 0.00 15.32 3.78 0.00 Major importers 5/ : 5.96 49.26 13.92 60.65 1.45 7.05 Indonesia : 1.53 31.12 6.08 35.20 0.00 3.53 Selected other : China : 25.56 140.49 0.26 135.85 3.73 26.72 Japan : 3.25 9.12 0.46 9.20 0.57 3.05 : : 1998/99 (Estimated) World 3/ : 54.90 393.75 25.75 390.44 26.83 58.20 United States : 0.88 5.91 0.33 3.75 2.68 0.69 Total foreign : 54.02 387.84 25.42 386.70 24.15 57.51 Major exporters 4/ : 11.67 125.96 0.07 108.27 16.43 13.00 Thailand : 1.05 15.18 0.00 8.90 6.68 0.65 Vietnam : 0.00 20.11 0.06 15.61 4.56 0.00 Major importers 5/ : 7.05 52.44 12.67 61.68 1.28 9.19 Indonesia : 3.53 32.10 3.90 35.50 0.00 4.03 Selected other : China : 26.72 139.10 0.17 136.75 2.71 26.54 Japan : 3.05 8.15 0.65 9.10 0.20 2.55 : : 1999/00 (Projected) World 3/ : February : 58.67 397.42 21.28 396.68 23.60 59.41 March : 58.20 398.32 20.99 397.27 23.52 59.26 United States : February : 0.69 6.64 0.34 3.68 2.71 1.28 March : 0.69 6.64 0.34 3.68 2.74 1.25 Total foreign : February : 57.98 390.78 20.94 393.00 20.89 58.14 March : 57.51 391.69 20.65 393.59 20.78 58.01 Major exporters 4/ : February : 13.00 125.25 0.15 110.40 13.00 15.00 March : 13.00 125.55 0.09 110.34 13.00 15.30 Thailand Feb : 0.65 15.85 0.00 9.00 5.50 2.00 Mar : 0.65 15.85 0.00 9.00 5.50 2.00 Vietnam Feb : 0.00 20.10 0.10 16.20 4.00 0.00 Mar : 0.00 20.10 0.04 16.14 4.00 0.00 Major importers 5/ : February : 9.23 52.77 9.27 62.60 1.18 7.49 March : 9.19 52.96 9.07 62.56 1.18 7.48 Indonesia Feb : 4.03 32.10 2.00 35.70 0.00 2.43 Mar : 4.03 32.10 2.00 35.70 0.00 2.43 Selected other : China Feb : 26.54 141.00 0.40 138.00 2.85 27.09 Mar : 26.54 141.00 0.40 138.00 2.85 27.09 Japan Feb : 2.55 8.35 0.72 9.45 0.40 1.77 Mar : 2.55 8.35 0.72 9.45 0.40 1.77 =============================================================================== 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, Hong Kong, Indonesia, Iran, Iraq, Ivory Coast, Nigeria, Philippines, Saudi Arabia, the EU-15 (includes intra-trade) and Non-EU Western Europe. WASDE-360-23 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 1997/98 World 2/ : 13.46 158.07 38.98 125.93 148.39 40.51 21.60 United States : 3.59 73.18 0.14 43.46 47.70 23.76 5.44 Total foreign : 9.87 84.90 38.85 82.46 100.69 16.75 16.16 Major exporters 3/ : 7.40 54.99 2.15 33.33 36.44 14.37 13.73 Argentina : 3.40 19.50 1.25 12.93 13.69 3.23 7.23 Brazil : 4.00 32.50 0.90 19.90 22.15 8.75 6.50 Major importers 4/ : 1.78 18.28 29.63 34.71 46.91 0.99 1.77 EU-15 : 0.84 1.57 16.30 15.43 17.01 0.82 0.88 Japan : 0.64 0.15 4.87 3.72 5.02 0.00 0.63 China : 0.00 14.73 2.94 10.73 17.50 0.17 0.00 : : 1998/99 (Estimated) World 2/ : 21.62 158.95 39.67 134.05 157.75 38.49 23.98 United States : 5.44 74.60 0.08 43.26 48.82 21.81 9.48 Total foreign : 16.18 84.35 39.59 90.79 108.93 16.67 14.49 Major exporters 3/ : 13.73 53.90 1.10 39.02 42.08 14.53 12.12 Argentina : 7.23 19.90 0.50 17.51 18.27 3.23 6.12 Brazil : 6.50 31.00 0.60 21.01 23.20 8.90 6.00 Major importers 4/ : 1.79 18.48 30.91 36.50 48.67 0.84 1.65 EU-15 : 0.88 1.54 16.40 15.76 17.28 0.66 0.88 Japan : 0.63 0.16 4.65 3.68 4.93 0.00 0.51 China : 0.00 15.00 3.85 11.85 18.67 0.18 0.00 : : 1999/00 (Projected) World 2/ : February : 24.01 153.25 41.89 134.21 156.93 41.28 20.93 March : 24.00 153.51 42.33 134.32 157.14 42.10 20.57 United States : February : 9.48 71.93 0.08 43.54 47.88 24.22 9.39 March : 9.48 71.93 0.08 43.54 47.88 24.77 8.85 Total foreign : February : 14.53 81.32 41.80 90.67 109.05 17.06 11.54 March : 14.51 81.58 42.24 90.77 109.25 17.34 11.72 Major exporters 3/ : February : 12.12 52.50 1.20 39.10 42.07 14.80 8.95 March : 12.12 53.00 1.20 39.10 42.07 15.05 9.20 Argentina Feb : 6.12 19.50 0.50 17.80 18.47 3.50 4.15 Mar : 6.12 20.00 0.50 17.80 18.47 3.75 4.40 Brazil Feb : 6.00 30.50 0.70 20.90 23.10 9.30 4.80 Mar : 6.00 30.50 0.70 20.90 23.10 9.30 4.80 Major importers 4/ : February : 1.69 17.09 32.48 36.60 48.93 0.82 1.50 March : 1.67 17.07 32.79 36.81 49.20 0.81 1.49 EU-15 Feb : 0.91 1.16 16.33 15.48 16.92 0.71 0.76 Mar : 0.88 1.14 16.49 15.61 17.04 0.70 0.77 Japan Feb : 0.51 0.17 4.70 3.62 4.92 0.00 0.45 Mar : 0.51 0.17 4.70 3.62 4.92 0.00 0.45 China Feb : 0.00 14.00 4.80 12.00 18.70 0.10 0.00 Mar : 0.00 14.00 5.00 12.12 18.90 0.10 0.00 =============================================================================== 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 export 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-360-24 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 1997/98 World 2/ : 3.74 100.14 36.91 100.11 37.04 3.65 United States : 0.19 34.63 0.05 26.21 8.46 0.20 Total foreign : 3.55 65.51 36.86 73.90 28.58 3.45 Major exporters 3/ : 1.08 30.06 0.10 7.69 22.25 1.31 Argentina : 0.25 10.54 0.00 0.39 10.03 0.36 Brazil : 0.84 15.73 0.10 6.10 9.62 0.94 India : 0.00 3.80 0.00 1.20 2.60 0.00 Major importers 4/ : 1.18 21.64 25.26 42.04 5.05 0.99 EU-15 : 0.86 12.09 16.53 23.67 5.00 0.80 China : 0.00 8.58 4.20 12.76 0.02 0.00 : : 1998/99 (Estimated) World 2/ : 3.65 105.95 38.85 104.92 39.14 4.38 United States : 0.20 34.28 0.09 27.82 6.46 0.30 Total foreign : 3.45 71.66 38.76 77.11 32.68 4.08 Major exporters 3/ : 1.31 34.81 0.10 8.30 26.50 1.41 Argentina : 0.36 14.00 0.00 0.46 13.40 0.50 Brazil : 0.94 16.60 0.10 6.50 10.30 0.84 India : 0.00 4.21 0.00 1.34 2.80 0.07 Major importers 4/ : 0.99 22.82 25.94 43.52 5.06 1.17 EU-15 : 0.80 12.22 19.33 26.38 5.04 0.93 China : 0.00 9.45 1.40 10.84 0.01 0.00 : : 1999/00 (Projected) World 2/ : February : 4.39 106.20 37.85 106.01 38.72 3.72 March : 4.38 106.32 38.12 106.57 38.52 3.73 United States : February : 0.30 34.51 0.05 28.26 6.35 0.25 March : 0.30 34.51 0.05 28.26 6.35 0.25 Total foreign : February : 4.10 71.69 37.81 77.75 32.38 3.47 March : 4.08 71.80 38.08 78.31 32.17 3.48 Major exporters 3/ : February : 1.41 34.49 0.10 8.73 26.11 1.16 March : 1.41 34.34 0.10 8.80 25.88 1.16 Argentina Feb : 0.50 14.40 0.00 0.47 14.07 0.36 Mar : 0.50 14.40 0.00 0.47 14.07 0.36 Brazil Feb : 0.84 16.50 0.10 6.90 9.74 0.80 Mar : 0.84 16.50 0.10 6.90 9.74 0.80 India Feb : 0.07 3.58 0.00 1.36 2.30 0.00 Mar : 0.07 3.44 0.00 1.43 2.08 0.00 Major importers 4/ : February : 1.19 22.69 25.20 42.89 5.12 1.07 March : 1.17 22.91 25.06 42.92 5.14 1.08 EU-15 Feb : 0.94 11.92 19.22 26.15 5.11 0.83 Mar : 0.93 12.04 19.17 26.17 5.13 0.84 China Feb : 0.00 9.60 0.62 10.21 0.01 0.00 Mar : 0.00 9.70 0.50 10.19 0.01 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-360-25 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 1997/98 World 2/ : 2.55 22.83 6.81 22.54 6.99 2.65 United States : 0.69 8.23 0.03 6.92 1.40 0.63 Total foreign : 1.86 14.60 6.78 15.62 5.60 2.03 Major exporters 3/ : 0.86 8.73 0.73 4.43 4.96 0.93 Argentina : 0.30 2.24 0.00 0.10 2.10 0.33 Brazil : 0.38 3.74 0.20 2.72 1.18 0.42 EU-15 : 0.18 2.76 0.53 1.60 1.69 0.18 Major importers 4/ : 0.47 2.64 2.05 4.47 0.08 0.60 China : 0.45 1.78 1.65 3.22 0.08 0.58 Pakistan : 0.02 0.00 0.16 0.16 0.00 0.02 : : 1998/99 (Estimated) World 2/ : 2.65 24.25 7.78 24.50 7.90 2.30 United States : 0.63 8.20 0.04 7.10 1.08 0.69 Total foreign : 2.03 16.05 7.74 17.39 6.82 1.61 Major exporters 3/ : 0.93 9.79 0.79 4.56 6.16 0.79 Argentina : 0.33 3.16 0.00 0.11 3.08 0.31 Brazil : 0.42 3.93 0.21 2.73 1.50 0.33 EU-15 : 0.18 2.70 0.58 1.72 1.58 0.16 Major importers 4/ : 0.60 2.94 2.20 5.35 0.08 0.32 China : 0.58 1.97 0.95 3.12 0.08 0.30 Pakistan : 0.02 0.01 0.42 0.43 0.00 0.02 : : 1999/00 (Projected) World 2/ : February : 2.30 24.17 7.40 24.13 7.37 2.37 March : 2.30 24.18 7.40 24.20 7.34 2.34 United States : February : 0.69 8.20 0.04 7.21 0.75 0.97 March : 0.69 8.20 0.04 7.26 0.70 0.97 Total foreign : February : 1.61 15.97 7.36 16.92 6.62 1.41 March : 1.61 15.98 7.36 16.94 6.64 1.37 Major exporters 3/ : February : 0.80 9.74 0.77 4.55 5.94 0.81 March : 0.79 9.76 0.77 4.58 5.96 0.78 Argentina Feb : 0.31 3.21 0.00 0.11 3.08 0.33 Mar : 0.31 3.21 0.00 0.11 3.12 0.30 Brazil Feb : 0.33 3.91 0.22 2.80 1.30 0.35 Mar : 0.33 3.91 0.22 2.80 1.30 0.35 EU-15 Feb : 0.16 2.62 0.55 1.65 1.55 0.13 Mar : 0.16 2.64 0.55 1.68 1.54 0.13 Major importers 4/ : February : 0.32 2.81 1.80 4.69 0.08 0.16 March : 0.32 2.79 1.81 4.68 0.08 0.16 China Feb : 0.30 1.98 0.75 2.80 0.08 0.15 Mar : 0.30 2.00 0.73 2.80 0.08 0.15 Pakistan Feb : 0.02 0.00 0.30 0.31 0.00 0.01 Mar : 0.02 0.00 0.30 0.31 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-360-26 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : 3/ : : 3/ : : =============================================================================== : : 1997/98 : World : 38.19 91.63 26.29 88.39 26.65 0.30 40.77 United States : 3.97 18.79 0.01 11.35 7.50 0.04 3.89 Total foreign : 34.22 72.84 26.28 77.04 19.15 0.26 36.89 Major exporters 5/ : 11.91 39.81 0.51 24.04 15.88 0.07 12.25 Pakistan : 1.82 7.18 0.12 7.19 0.38 0.03 1.52 India : 4.68 12.34 0.15 12.68 0.31 0.00 4.17 Central Asia 6/ : 1.49 7.11 0.01 1.23 5.82 0.00 1.56 Afr. Fr. Zone 7/ : 0.49 4.32 4/ 0.27 3.62 0.00 0.92 S. Hemis. 8/ : 2.35 5.75 0.23 1.26 4.52 0.02 2.52 Australia : 0.95 3.06 4/ 0.20 2.71 0.00 1.10 Argentina : 1.04 1.41 0.03 0.43 1.00 0.01 1.04 Major importers : 20.53 29.80 20.27 45.59 1.97 0.18 22.85 Brazil : 1.26 1.75 1.88 3.40 0.00 0.00 1.49 Mexico : 0.20 0.98 1.48 1.95 0.31 0.04 0.36 China : 14.76 21.10 1.83 20.80 0.03 0.00 16.86 Europe : 1.88 2.28 6.02 6.72 1.40 0.05 2.00 Turkey : 0.56 3.65 1.45 5.00 0.10 0.00 0.56 Selected Asia 9/ : 1.88 0.05 7.60 7.72 0.12 0.10 1.60 Indonesia : 0.10 0.02 1.92 1.85 0.00 0.05 0.14 South Korea : 0.51 4/ 1.32 1.35 0.05 0.00 0.43 : : 1998/99 (Estimated) : World : 40.77 84.54 25.16 85.22 23.65 -0.14 41.74 United States : 3.89 13.92 0.44 10.40 4.34 -0.44 3.94 Total foreign : 36.89 70.62 24.71 74.82 19.31 0.30 37.80 Major exporters 5/ : 12.25 37.65 1.56 23.53 15.27 0.07 12.58 Pakistan : 1.52 6.30 0.93 7.00 0.01 0.03 1.71 India : 4.17 12.73 0.43 12.47 0.18 0.00 4.68 Central Asia 6/ : 1.56 6.60 0.01 1.25 5.38 0.00 1.54 Afr. Fr. Zone 7/ : 0.92 4.05 4/ 0.27 3.62 0.00 1.07 S. Hemis. 8/ : 2.52 5.38 0.20 1.20 4.49 0.02 2.39 Australia : 1.10 3.29 4/ 0.19 3.00 0.00 1.21 Argentina : 1.04 0.90 0.02 0.40 0.75 0.01 0.80 Major importers : 22.85 29.97 18.05 44.41 2.80 0.22 23.44 Brazil : 1.49 2.10 1.36 3.50 0.00 0.00 1.45 Mexico : 0.36 1.00 1.49 2.15 0.22 0.04 0.45 China : 16.86 20.70 0.36 19.80 0.68 0.00 17.43 Europe : 2.00 2.27 5.43 6.26 1.44 0.09 1.90 Turkey : 0.56 3.85 1.14 4.60 0.36 0.00 0.58 Selected Asia 9/ : 1.60 0.05 8.28 8.10 0.10 0.10 1.63 Indonesia : 0.14 0.02 2.33 2.25 0.00 0.05 0.19 South Korea : 0.43 4/ 1.47 1.48 0.04 0.00 0.39 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ For foreign countries, reflects cotton lost or destroyed in the marketing channel; for the United States, reflects the difference between implicit stocks based on supply less total use and ending stocks based on Bureau of Census data. 3/ World trade includes estimated trade among the 12 countries of the former USSR and three Baltic states 1.70 million bales in 1997/98 and 1.38 million in 1998/99. 4/ Less than 5,000 bales. 5/ Includes Egypt, and Syria in addition to the countries and regions listed. 6/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 7/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 8/ Argentina, Australia, Paraguay, South Africa, Tanzania, and Zimbabwe. 9/ Hong Kong, Indonesia, Japan, South Korea, Taiwan, and Thailand. WASDE-360-27 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : 3/ : : 3/ : : =============================================================================== : : 1999/00 (Projected) World : February : 41.74 86.92 26.90 88.54 26.53 0.21 40.28 March : 41.74 86.87 27.24 88.96 26.71 0.24 39.94 United States : February : 3.94 16.95 0.08 10.20 6.40 -0.03 4.40 March : 3.94 16.95 0.10 10.10 6.50 -0.01 4.40 Total foreign : February : 37.80 69.97 26.83 78.34 20.13 0.24 35.88 March : 37.80 69.92 27.14 78.86 20.21 0.24 35.54 Major exporters 5/ : February : 12.58 40.08 1.67 24.67 15.65 0.07 13.94 March : 12.58 39.73 1.67 24.67 15.73 0.07 13.50 Pakistan Feb : 1.71 8.20 0.50 7.40 0.70 0.03 2.29 Mar : 1.71 8.20 0.40 7.40 0.70 0.03 2.19 India Feb : 4.68 13.00 0.80 13.20 0.10 0.00 5.18 Mar : 4.68 12.80 0.90 13.20 0.10 0.00 5.08 Central Asia 6/Feb : 1.54 7.56 0.01 1.26 5.85 0.00 2.01 Mar : 1.54 7.41 0.01 1.26 5.80 0.00 1.91 Afr. Fr. Zn. 7/Feb : 1.07 4.08 4/ 0.28 3.67 0.00 1.20 Mar : 1.07 4.06 4/ 0.28 3.66 0.00 1.19 S. Hemis 8/ Feb : 2.39 4.74 0.26 1.22 3.98 0.02 2.16 Mar : 2.39 4.74 0.26 1.22 4.08 0.02 2.06 Australia Feb : 1.21 3.10 4/ 0.20 2.80 0.00 1.31 Mar : 1.21 3.10 4/ 0.20 2.90 0.00 1.21 Argentina Feb : 0.80 0.55 0.04 0.40 0.50 0.01 0.47 Mar : 0.80 0.55 0.04 0.40 0.50 0.01 0.47 Major importers Feb : 23.44 26.91 19.68 46.55 3.25 0.17 20.05 Mar : 23.44 27.21 19.79 46.87 3.25 0.17 20.15 Brazil Feb : 1.45 2.20 1.90 3.90 0.00 0.00 1.65 Mar : 1.45 2.50 1.70 3.90 0.00 0.00 1.75 Mexico Feb : 0.45 0.63 2.10 2.45 0.20 0.03 0.50 Mar : 0.45 0.63 2.10 2.45 0.20 0.03 0.50 China Feb : 17.43 17.60 0.15 20.50 1.20 0.00 13.48 Mar : 17.43 17.60 0.15 20.50 1.20 0.00 13.48 Europe Feb : 1.90 2.48 5.43 6.18 1.56 0.05 2.02 Mar : 1.90 2.48 5.52 6.27 1.56 0.05 2.02 Turkey Feb : 0.58 3.95 1.40 5.10 0.20 0.00 0.63 Mar : 0.58 3.95 1.70 5.40 0.20 0.00 0.63 Sel. Asia 9/ Feb : 1.63 0.05 8.70 8.43 0.09 0.10 1.77 Mar : 1.63 0.05 8.63 8.35 0.09 0.10 1.77 Indonesia Feb : 0.19 0.02 2.50 2.40 0.00 0.05 0.26 Mar : 0.19 0.02 2.50 2.40 0.00 0.05 0.26 S. Korea Feb : 0.39 4/ 1.60 1.55 0.04 0.00 0.41 Mar : 0.39 4/ 1.60 1.55 0.04 0.00 0.41 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ For foreign countries, reflects cotton lost or destroyed in the marketing channel; for the United States, reflects the difference between implicit stocks based on supply less total use and ending stocks based on Bureau of Census data. 3/ World trade includes estimated trade among the 12 countries of the former USSR and three Baltic states of 1.71 million bales. 4/ Less than 5,000 bales. 5/ Includes Egypt, and Syria in addition to the countries and regions listed. 6/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 7/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 8/ Argentina, Australia, Paraguay, South Africa, Tanzania, and Zimbabwe. 9/ Hong Kong, Indonesia, Japan, South Korea, Taiwan, and Thailand. WASDE-360-28 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 1998 : Annual : 25653 18981 45134 27863 5281 33667 78801 6658 157.3 : 1999 : I : 6399 4866 11387 7296 1204 8637 20024 1693 40.5 II : 6627 4630 11367 7594 1336 9072 20439 1706 42.0 III : 6838 4672 11624 7486 1362 8986 20610 1728 39.8 IV : 6522 5110 11756 7348 1393 8875 20631 1786 40.4 Annual : Feb Est : 26390 19278 46139 29687 5296 35534 81673 6911 162.7 Mar Est : 26386 19278 46134 29723 5295 35570 81704 6912 162.7 : 2000 : I *: 6675 4825 11616 7600 1225 8960 20576 1745 42.0 II *: 6725 4500 11328 7900 1350 9395 20723 1740 43.0 III *: 6750 4525 11377 7800 1375 9315 20692 1760 40.5 IV *: 6025 4800 10930 7800 1400 9335 20265 1815 40.5 Annual : Feb Proj : 25700 18600 44724 31150 5400 37115 81839 7080 165.5 Mar Proj : 26175 18650 45251 31100 5350 37005 82256 7060 166.0 =============================================================================== * 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 1998 : Annual : 61.48 34.72 63.1 62.2 75.8 15.42 : 1999 : I : 62.43 28.83 58.1 59.4 75.0 15.97 II : 65.04 35.18 58.6 65.8 58.1 12.87 III : 65.12 35.70 58.1 73.8 66.2 14.83 IV : 69.65 36.29 57.6 76.9 63.0 13.83 Annual : Feb Est : 65.56 34.03 58.1 69.0 65.6 14.38 Mar Est : 65.56 34.00 58.1 69.0 65.6 14.38 : 2000 : I *: 68-69 40-41 54-55 62-63 63-64 11.70-11.90 II *: 67-71 40-42 56-58 64-68 54-56 11.40-11.90 III *: 66-72 40-44 56-60 66-72 58-62 12.30-13.10 IV *: 67-73 36-40 54-58 72-78 62-68 13.70-14.70 Annual : Feb Proj : 67-71 39-41 55-59 66-70 59-63 12.20-12.90 Mar Proj : 67-71 39-41 55-58 66-70 59-63 12.30-12.90 =============================================================================== *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/ Price received by farmers for all milk. WASDE-360-29 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/ ============================================================================ : Million pounds 3/ BEEF : 1998 : 465 25760 2642 28867 2171 393 26303 68.0 1999 Est. Feb : 393 26496 2877 29766 2374 411 26981 69.2 Mar : 393 26493 2874 29760 2329 411 27020 69.3 2000 Proj. Feb : 411 25806 3015 29232 2325 365 26542 67.5 Mar : 411 26281 3015 29707 2325 365 27017 68.7 : PORK : 1998 : 408 19011 704 20123 1229 586 18308 52.5 1999 Est. Feb : 586 19308 822 20716 1272 489 18955 53.9 Mar : 586 19308 827 20721 1168 488 19065 54.2 2000 Proj. Feb : 489 18630 800 19919 1200 500 18219 51.4 Mar : 488 18680 875 20043 1200 500 18343 51.7 : TOTAL RED MEAT 4/ : 1998 : 895 45284 3458 49637 3406 996 45235 122.6 1999 Est. Feb : 996 46288 3807 51091 3652 914 46525 124.9 Mar : 996 46284 3814 51094 3502 913 46679 125.3 2000 Proj. Feb : 914 44873 3929 49716 3531 879 45306 120.6 Mar : 913 45400 4004 50317 3531 879 45907 122.1 : BROILERS : 1998 : 607 27612 5 28225 4673 711 22841 72.5 1999 Est. Feb : 711 29415 4 30130 4706 795 24628 77.5 Mar : 711 29450 4 30165 4741 796 24628 77.5 2000 Proj. Feb : 795 30858 4 31657 4825 890 25942 81.0 Mar : 796 30808 4 31608 4825 890 25893 80.8 : TURKEYS : 1998 : 415 5215 0 5630 446 304 4880 18.0 1999 Est. Feb : 304 5230 0 5534 371 252 4911 18.0 Mar : 304 5228 1 5533 379 254 4900 17.9 2000 Proj. Feb : 252 5332 0 5584 390 250 4944 18.0 Mar : 254 5282 0 5536 390 250 4896 17.8 : TOTAL POULTRY 5/ : 1998 : 1029 33352 6 34387 5545 1022 27821 90.9 1999 Est. Feb : 1022 35197 6 36225 5483 1055 29686 96.0 Mar : 1022 35232 7 36261 5513 1058 29690 96.0 2000 Proj. Feb : 1055 36756 4 37815 5630 1145 31040 99.5 Mar : 1058 36647 4 37709 5630 1145 30934 99.1 : RED MEAT & POULTRY: 1998 : 1924 78636 3464 84024 8950 2018 73057 213.5 1999 Est. Feb : 2018 81485 3813 87316 9135 1969 76212 220.9 Mar : 2018 81516 3821 87355 9014 1971 76369 221.3 2000 Proj. Feb : 1969 81629 3933 87531 9161 2024 76347 220.0 Mar : 1971 82047 4008 88026 9161 2024 76842 221.2 ============================================================================ 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/ Carcass weight for red meats and certified ready-to-cook weight for poultry. 4/ Beef, pork, veal, lamb and mutton. 5/ Broilers, turkeys and mature chicken. WASDE-360-30 U.S. Egg Supply and Use =============================================================================== : : : 1999 Estimated : 2000 Projected : : :-----------------:----------------- Commodity : 1997 : 1998 : Feb : Mar : Feb : Mar =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 8.5 7.4 8.4 8.4 7.7 7.6 Production : 6473.1 6657.9 6911.0 6912.0 7080.0 7060.0 Imports : 6.9 5.8 7.4 7.4 4.0 4.0 Total supply : 6488.5 6671.2 6926.8 6927.8 7091.7 7071.6 : Use : Exports : 227.8 218.8 158.9 161.7 160.0 160.0 Hatching use : 894.7 921.8 941.3 941.7 1000.0 975.0 Ending stocks : 7.4 8.4 7.7 7.6 5.0 5.0 Consumption : Total : 5358.6 5522.2 5818.9 5816.8 5926.7 5931.6 Per capita (number) : 240.1 244.9 255.7 255.6 258.4 258.6 =============================================================================== U.S. Milk Supply, Use and Prices =============================================================================== : : : 1998/99 Est 1/ : 1999/00 Proj 1/ Commodity :1996/97:1997/98:-----------------:----------------- : 1/ : 1/ : Feb : Mar : Feb : Mar =============================================================================== MILK : Billion pounds Supply : Beg. commercial stocks 2/ : 4.9 5.9 5.8 5.8 7.5 7.4 Production : 155.9 156.5 161.2 161.2 165.4 165.9 Farm use : 1.4 1.4 1.3 1.3 1.3 1.3 Marketings : 154.5 155.1 159.9 159.9 164.2 164.6 Imports 2/ : 2.8 4.1 4.8 4.8 4.1 4.1 Total cml. supply 2/ : 162.3 165.2 170.5 170.5 175.7 176.1 Use : Commercial use 2/ 3/ : 155.6 158.7 162.8 162.8 168.2 168.6 Ending commercial stks. 2/: 5.9 5.8 7.5 7.4 6.9 6.9 CCC net removals: : Milkfat basis 4/ : 0.7 0.7 0.3 0.3 0.6 0.7 Skim-solids basis 4/ : 2.7 4.5 5.4 5.4 6.7 7.2 : : Dollars per cwt Milk Prices : Basic Formula/Class III 5/: 11.88 13.28 14.04 14.04 10.10- 10.05- : 10.60 10.45 All milk 6/ : 13.53 14.60 15.37 15.37 12.20- 12.30- : 12.70 12.70 : : Million pounds CCC product net removals 4/: Butter : 24 21 1 1 15 15 Cheese : 10 8 6 6 6 6 Nonfat dry milk : 222 368 449 449 560 600 Dry whole milk : 7 15 12 12 12 20 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning October 1. 2/ Milk equivalent, milkfat basis. 3/ Includes commercial exports. 4/ Includes products exported under the Dairy Export Incentive Program. 5/ Basic Formula Price through Dec. 31, 1999; Class III price beginning Jan. 1, 2000 6/ Milk of average fat test. Does not reflect any deductions from producers as authorized by legislation. WASDE-360-31 Note: Tables on pages 31-33 present a 18-year record of the differences between the March projection and the final estimate. Using world wheat production as an example, changes between the March projection and the final estimate have averaged 2.9 million tons (0.6%) ranging from -8.0 to 6.9 million tons. The March projection has been below the estimate 12 times and above 6 times. Reliability of March Projections ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-98/99 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- WHEAT :Percent Million metric tons Number of years 2/ Production : World : 0.6 2.9 -8.0 6.9 12 6 U.S. : 0.1 0.0 0.1 0.1 8 4 Foreign : 0.6 2.8 -8.0 6.9 11 6 Exports : World : 2.3 2.6 -9.0 3.4 14 4 U.S. : 2.6 0.9 -1.4 2.4 8 10 Foreign : 2.8 2.2 -7.7 2.5 11 6 Domestic use : World : 0.9 4.6 -9.4 8.1 8 10 U.S. : 3.6 1.1 -2.4 2.4 7 11 Foreign : 0.8 3.7 -7.9 7.6 9 8 Ending stocks : World : 3.2 4.1 -9.1 5.4 11 7 U.S. : 6.4 1.2 -4.4 2.5 9 9 Foreign : 2.8 2.7 -7.3 4.9 9 7 : COARSE GRAINS 3/ : Production : World : 0.9 7.2 -17.3 10.9 13 5 U.S. : 0.1 0.1 -0.2 1.3 9 4 Foreign : 1.1 6.6 -17.3 10.9 12 5 Exports : World : 3.0 3.1 -7.5 9.9 9 9 U.S. : 6.8 3.4 -5.5 9.1 9 9 Foreign : 4.5 2.3 -7.5 6.7 7 10 Domestic use : World : 0.9 7.6 -12.8 24.2 9 9 U.S. : 3.0 5.3 -17.3 11.5 6 12 Foreign : 0.9 5.6 -11.5 17.5 11 6 Ending stocks : World : 7.0 9.4 -20.0 13.9 16 2 U.S. : 8.9 5.3 -13.8 15.3 11 7 Foreign : 7.8 5.1 -12.2 10.5 15 2 : RICE, milled : Production : World : 1.3 4.2 -13.7 2.3 15 3 U.S. : 0.8 0.0 -0.2 0.1 5 1 Foreign : 1.1 3.4 -9.9 2.3 14 3 Exports : World : 7.6 1.3 -4.5 1.2 16 2 U.S. : 5.1 0.1 -0.4 0.3 8 7 Foreign : 8.1 1.1 -4.4 1.1 15 2 Domestic use : World : 1.0 3.1 -9.8 2.9 13 5 U.S. : 5.5 0.1 -0.3 0.4 8 9 Foreign : 0.9 2.9 -10.0 3.1 12 5 Ending stocks : World : 7.1 2.9 -11.6 4.0 12 6 U.S. : 15.9 0.2 -0.3 0.4 10 8 Foreign : 6.4 2.2 -6.2 3.9 11 6 ------------------------------------------------------------------------------- 1/ Footnotes at end of table. CONTINUED WASDE-360-32 Reliability of March Projections (Continued) ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-98/99 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- SOYBEANS :Percent Million metric tons Number of years 2/ Production : World : 1.5 1.6 -3.9 2.6 10 8 U.S. : 1.1 0.6 -1.6 1.8 7 8 Foreign : 2.3 1.2 -4.6 2.6 10 7 Exports : World : 2.7 0.8 -2.1 1.4 11 6 U.S. : 5.3 1.1 -2.2 3.0 11 7 Foreign : 12.7 1.0 -2.9 2.4 7 10 Domestic use : World : 1.8 2.0 -5.3 2.4 11 7 U.S. : 2.4 0.9 -3.0 1.0 12 5 Foreign : 1.7 1.2 -2.6 2.2 10 7 Ending stocks : World : 11.7 2.1 -3.7 5.7 9 9 U.S. : 21.6 1.7 -2.7 5.4 5 13 Foreign : 11.1 1.2 -2.7 3.5 10 7 : COTTON : Million 480-pound bales Production : World : 1.3 1.1 -2.9 3.0 9 8 U.S. : 0.6 0.1 0.1 0.3 4 13 Foreign : 1.5 1.0 -3.2 2.9 9 7 Exports : World : 3.5 0.8 -2.7 1.4 8 10 U.S. : 4.8 0.3 -0.7 0.9 5 12 Foreign : 4.6 0.8 -3.6 1.3 9 8 Mill use : World : 1.6 1.3 -6.0 1.3 8 10 U.S. : 2.9 0.2 -0.7 0.2 12 4 Foreign : 1.7 1.2 -5.5 1.4 8 9 Ending stocks : World : 7.3 2.4 -3.9 8.4 9 9 U.S. : 9.5 0.4 -0.6 1.6 7 11 Foreign : 7.9 2.3 -4.2 7.9 9 8 ------------------------------------------------------------------------------- 1/ Final estimate for 1981/82-98/99 is defined as the first November estimate following the marketing year. 2/ May not total 18 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. WASDE-360-33 Reliability of United States March Projections 1/ ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-98/99 2/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- CORN :Percent Million bushels Number of years 3/ Production : 0.1 3 -8 38 1 1 Exports : 6.9 116 -254 284 9 9 Domestic use : 3.0 178 -474 345 7 11 Ending stocks : 10.8 210 -535 713 12 6 : SORGHUM : Production : 0.1 0 0 4 0 2 Exports : 13.0 31 -90 72 11 6 Domestic use : 9.0 44 -178 100 9 9 Ending stocks : 32.4 39 -69 148 9 9 : BARLEY : Production : 0.3 2 -3 11 8 2 Exports : 9.9 8 -20 13 5 12 Domestic use : 5.3 21 -30 70 9 8 Ending stocks : 10.9 19 -53 24 11 7 : OATS : Production : 0.1 0 -2 1 3 2 Exports : 23.7 1 -1 3 3 4 Domestic use : 3.1 13 -26 36 8 10 Ending stocks : 10.7 15 -47 21 10 8 : : Thousand short tons SOYBEAN MEAL : Production : 2.4 735 -2328 717 14 4 Exports : 7.4 493 -1750 941 14 4 Domestic use : 2.0 448 -1100 525 15 3 Ending stocks : 34.3 83 -214 208 7 10 : : Million pounds SOYBEAN OIL : Production : 2.3 333 -1173 365 14 4 Exports : 16.5 258 -700 664 8 10 Domestic use : 1.7 212 -685 200 13 5 Ending stocks : 16.9 244 -692 350 11 7 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 2.4 558 -666 1613 11 5 Pork : 2.8 450 -1265 1667 10 6 Broilers : 1.5 302 -579 496 9 7 Turkeys : 2.2 95 -177 161 9 7 : : Million dozen Eggs : 1.3 80 -120 169 11 5 : : Billion pounds Milk : 1.0 1.4 -3.2 3.1 8 8 ------------------------------------------------------------------------------- 1/ See pages 31 and 32 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-98/99 is defined as the first November estimate following the marketing year. 3/ May not total 18 for crops and 16 for animal production if projection was the same as the final estimate. 4/ Calendar years 1984 thru 1998 for meats and eggs; October-September years 1983/84 thru 1997/98 for milk. Final for animal products is defined as latest annual production estimate published by NASS. WASDE-360-34 METRIC CONVERSION FACTORS 1 Hectare = 2.4710 Acres 1 Kilogram = 2.205 Pounds --------------------------------------------------------------------- 1 Metric Ton : = 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 --------------------------------------------------------------------- ----- END OF FILE -----