ISSN:1554-9089 WASDE-442 January 12, 2007 WHEAT: Projected U.S. wheat ending stocks for 2006/07 are raised 34 million bushels this month primarily because of changes in projected trade. Imports are raised 10 million bushels as hard red spring and durum wheat imports to date have been higher than expected. Exports are lowered 25 million bushels reflecting the slow pace of shipments and sales as a result of strong U.S. prices. The projected price range is unchanged at $4.15 to $4.45 per bushel. Global 2006/07 wheat production is projected 2.2 million tons higher this month, due primarily to larger crops in Russia and EU-25. Production is raised 1.4 million tons in Russia and 0.7 million tons in EU-25. Global consumption is raised 1.2 million tons this month reflecting increases in EU-25, Russia, Ukraine, and India. Wheat imports are reduced for Iraq and Pakistan. Higher exports for Russia, Bulgaria, and Romania are more than offset by lower exports for Ukraine, EU-25, India, and the United States. With more production, global ending stocks for 2006/07 are raised 1.1 million tons. Higher projected stocks in the United States, EU-25, and Ukraine drive the increase. COARSE GRAINS: Projected U.S. 2006/07 corn ending stocks are projected at 752 million bushels, down 183 million bushels from last month as lower production is only partly offset by reduced feed and residual use. Corn production is estimated 210 million bushels lower reflecting lower planted and harvested area and a 2.1- bushel-per-acre reduction in the average yield. Feed and residual use is projected 75 million bushels lower based on the smaller crop and higher prices. Corn food and industrial use is lowered 5 million bushels reflecting lower use by the sweetener industry during the September- November quarter. Exports are raised 50 million bushels based on the continued strength of export demand as demonstrated by shipments and export sales. The projected price range is raised 10 cents on each end of the range to $3.00 to $3.40 per bushel. Sorghum production for 2006 is estimated 11 million bushels lower this month as lower harvested area more than offsets a 2-bushel-per-acre increase in yields. Sorghum feed and residual is raised 15 million bushels based on first quarter use. Exports are lowered 10 million bushels as export sales to Mexico have remained below earlier expectations, partly a result of strong corn shipments from the United States. Sorghum 2006/07 ending stocks are projected 5 million bushels lower. Prices are projected 10 cents higher on each end of the range to $3.00 to $3.40 per bushel. Barley feed and residual use for 2006/07 is raised 10 million bushels with a corresponding reduction in ending stocks. Barley and oats prices are unchanged this month. Global 2006/07 coarse grain production is lowered 6.6 million tons this month. The largest share of the reduction results from lower U.S. feed grain output. Also lower are EU-25 corn, barley, and mixed grains production and Russia corn, barley, and oats production. Partly offsetting are higher sorghum and barley production in Argentina and higher corn production in Bulgaria. World coarse grain consumption is down 1.2 million tons as the U.S. decline more than offsets a small increase in foreign use. Trade is raised this month. The largest export increases are for U.S. and Brazil corn. These increases are partly offset by lower corn and barley exports from Ukraine. Global coarse grain ending stocks are lowered 6.2 million tons with global corn stocks projected to fall to their lowest level since 1977/78. RICE: The U.S. 2006/07 rice crop is estimated at 193.7 million cwt, up slightly from the November estimate, but 13 percent below 2005/06. Average yield for 2006/07 is estimated at 6,868 pounds per acre, up 21 pounds per acre from last month and 232 pounds per acre above 2005/06. Planted area is estimated at 2.838 million acres, down slightly from November and a decline of 16 percent from 2005/06. Imports for 2006/07 are projected at 18 million cwt, unchanged from last month. The all- rice export projection is unchanged at 102 million cwt; however, slight changes are made to the by-class projections. Long-grain exports are increased 1 million cwt while combined medium- and short-grain exports are reduced 1 million cwt. Ending stocks for 2006/07 are projected at 29.9 million cwt, up slightly from last month. The season-average farm price range is raised 15 cents per cwt on the low end and increased 5 cents on the high end to $9.70 to $10.00 per cwt and compares to $7.62 per cwt in 2005/06. The midpoint of the price range at $9.85 per cwt would be the highest season-average farm price since 1996/97 ($9.96 per cwt). Global production, consumption, and ending stocks for 2006/07 are lowered from a month ago, while exports and imports are raised. The decline in global rice production is due primarily to a smaller crop projected for Indonesia (down 1.4 million tons to 33.7 million tons). Global exports are raised 0.8 million tons due to increases for Pakistan, Thailand, and Vietnam. Imports are up 1.0 million tons owing mostly to an increase for Indonesia. Global ending stocks at 77.7 million tons are down 0.9 million tons from last month, down 2.7 million tons from 2005/06, and the lowest stocks since 1983/84. OILSEEDS: U.S. oilseed production for 2006/07 is estimated at 96.9 million tons, down 0.2 million tons from last month but up 1.4 million tons from last year. Lower soybean production is mostly offset by increases for sunflowerseed, canola, cottonseed, and peanuts. Soybean production is estimated at 3,188 million bushels, down 16 million bushels from last month based on lower yields. The soybean yield is estimated at 42.7 bushels per acre, below last year's record of 43.0 bushels per acre. Soybean exports are reduced 25 million bushels to 1,120 million bushels reflecting weaker-than-expected shipments in November and December. Soybean crush is unchanged. However, soybean oil and meal exports are both raised this month, with offsetting reductions in domestic consumption. Soybean stocks are projected at a record 575 million bushels, up 10 million bushels from last month. The U.S. season-average soybean price range for 2006/07 is narrowed to $5.75 to $6.45 per bushel. Soybean oil prices are forecast at 26.5 to 28.5 cents per pound compared with 26 to 29 cents last month. Soybean meal prices are projected at $170 to $185 per short ton compared with $165 to $190 last month. Global oilseed production for 2006/07 is projected at a record 395.4 million tons, down 0.1 million tons. Foreign production is projected at 298.6 million tons, up 0.1 million tons. Global soybean production is projected at 226.9 million tons, up 0.1 million from last month. Argentina's soybean crop is increased 0.5 million tons this month to a record 42.5 million tons. Good weather during the early part of the growing season has improved yield prospects. Foreign production of rapeseed, sunflowerseed, and cottonseed are all reduced this month. India's rapeseed crop is projected at 6.2 million tons, down 0.3 million tons based on reduced harvested area reflecting Government of India data on planting progress. Other oilseed production changes include increased rapeseed production for EU-25, reduced sunflowerseed production for Russia, and lower cottonseed production for Syria and Turkey. Higher cottonseed production in Brazil and China partly offsets these reductions. SUGAR: Projected 2006/07 U.S. sugar supply is decreased 180,000 short tons, raw value, from last month, due to lower production and imports. Production is decreased 80,000 tons, based on processor estimates compiled by the Farm Service Agency. Louisiana cane sugar production is lowered 85,000 tons to 1.335 million tons, assuming September 2007 production is 55,000 tons. Imports under the tariff rate quota are decreased 100,000 tons, based on reduced competition from Mexico. Sugar use is unchanged. LIVESTOCK, POULTRY, AND DAIRY: Estimates of total U.S. meat production for 2006 and the forecast for 2007 are reduced slightly from last month. Fourth- quarter 2006 beef production is raised due to higher- than-expected average carcass weights. However, lower than-expected pork production due to reduced hog slaughter and lighter average carcass weights, more than offset beef gains. No change is made to 2007 beef forecasts. The December 27 Quarterly Hogs and Pigs report indicated producers intend to farrow fewer sows than previously expected although this may be partly offset by continued gains in pigs per litter. Thus, the 2007 pork production forecast is reduced from last month because of a smaller pig crop in addition to lower average carcass weights due to higher feed costs. Minor changes are made to aggregate poultry production estimates for 2006 and forecasts for 2007 as slightly lower broiler production is partly offset by higher turkey production. Egg production forecasts are unchanged. Price forecasts for 2007 are unchanged for cattle, turkeys, and eggs, but prices are forecast higher for hogs and broilers. Slower growth in pork production coupled with improved prospects for exports will support prices above last month's forecast. Broiler meat supplies are forecast lower due to slower production growth and smaller expected stocks. Coupled with lower expected red meat supplies, broiler prices are forecast higher. Red meat and poultry trade for 2006 and 2007 is raised from last month. Beef export forecasts are unchanged but imports are increased for 2006 as November shipments from Australia and Brazil were higher than expected. Pork import forecasts are unchanged but exports in both 2006 and 2007 are raised as sales growth is expected to remain robust through 2007. Broiler export estimates are raised for 2006 as November shipments to Russia rebounded from October and sales to a number of small markets continued to expand. The milk production estimate for 2006 is reduced from last month but the 2007 forecast is unchanged. Gains in milk prices are expected to lag increased feed costs through much of 2007 and thus limit production expansion. Milk price forecasts are reduced from last month as increased nonfat dry milk (NDM) and whey prices are offset by reduced cheese and butter prices. Demand for NDM and whey for both domestic ingredient use and international sales continues to support relatively strong prices. In the absence of other international supply sources, U.S. prices are expected to remain high. Cheese prices are reduced slightly and butter prices are reduced more as supplies are expected to remain ample in the face of robust demand for NDM. Class price forecasts are also adjusted to reflect the recently announced interim manufacturing (make) allowances for cheese, butter, NDM, and whey that will take effect February 1. The increase in make allowances results in lower Class prices. The all milk price forecast for 2007 is reduced to $13.60 - $14.40. COTTON: This month's 2006/07 U.S. cotton estimates show increased production and lower offtake, resulting in an increase of 12.7 percent in forecast ending stocks. The production estimate is 21.7 million bales, 2 percent above last month, due primarily to higher production in Texas and the Southeast. Domestic mill use is reduced 100,000 bales to 5.0 million, reflecting the recent downward trend in reported monthly mill use. Exports are lowered 300,000 bales to 15.7 million, due to the continued sluggish pace of export sales and shipments and a significant reduction in the import forecast for China. If realized, the carryover projection of 7.1 million bales would be the largest since 2001/02. The world 2006/07 cotton estimates include an increase in production, which is partly offset by higher consumption, resulting in slightly higher ending stocks. World production is raised 0.7 percent, as increases in Brazil, China, Pakistan, and the United States are partially offset by decreases for Turkey, Greece, Syria, and others. World consumption is raised marginally, due mainly to an increase for India. World trade is reduced 2 percent as lower imports by China are partially offset by higher imports by Turkey and Argentina. China's imports are reduced 1.25 million bales from last month due to lagging purchases and an announcement that the government would defer issuance of additional import quotas until March or later. Exports are reduced mainly in the United States, Syria, and Greece. 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. APPROVED BY: MIKE JOHANNS SECRETARY OF AGRICULTURE USDA's 83rd Annual Outlook Forum Agriculture at the Crossroads: Energy, Farm & Rural Policy Crystal Gateway Marriott Hotel Arlington, Virginia March 1-2, 2007 At this year's Forum, the keynote address will be delivered by Secretary Johanns. The distinguished plenary panel will include Patricia Woertz, President and Chief Executive Officer (CEO) of Archer Daniels Midland; Warren R. Staley, Chairman and CEO of Cargill; and John Johnson, President and CEO of CHS, Inc. speaking on "Renewable Energy Inroads to Agriculture." Scott Kilman, of the Wall Street Journal will moderate the panel. Robert Dinneen, President of the Renewable Fuels Association, will address the "U.S. Potential for Biofuels," and William A. Frye, Global Business Director for Biofuels at DuPont will explore butenol and its role in the marketplace. Chief Economist Keith Collins will give an overview of the U.S. agricultural economic outlook, and the traditional USDA sessions will present the outlook for major U.S. commodities. For a program preview, roster of session speakers, and to register, please visit: www.usda.gov/oce/forum $300 if you register by Feb. 5, 2007 $350 if you register after Feb. 5, 2007 Topical sessions, include luncheon and dinner speakers Networking opportunities, 1,500 expected to attend For updates on the meeting, send your e-mail and postal address to agforum@oce.usda.gov or write to 2007 Outlook Forum, Room 4426 South Building, USDA, Washington, D.C. 20250-3812. WASDE-442-8 World and U.S. Supply and Use for Grains 1/ Million Metric Tons =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : World Total grains 3/ : 2004/05 : 2,043.38 2,401.38 241.20 1,993.59 407.79 2005/06 (Est.) : 2,012.79 2,420.58 250.95 2,025.76 394.81 2006/07 (Proj.) : December : 1,973.93 2,369.42 242.75 2,045.94 323.47 January : 1,968.16 2,362.97 244.04 2,045.44 317.53 Wheat : 2004/05 : 628.85 761.53 111.21 610.11 151.42 2005/06 (Est.) : 619.77 771.18 116.10 623.76 147.42 2006/07 (Proj.) : December : 588.56 735.94 109.43 615.20 120.74 January : 590.75 738.18 108.88 616.35 121.83 Coarse grains 4/ : 2004/05 : 1,014.05 1,153.98 101.64 975.76 178.23 2005/06 (Est.) : 977.51 1,155.73 107.05 988.79 166.95 2006/07 (Proj.) : December : 968.99 1,136.68 105.15 1,012.55 124.14 January : 962.38 1,129.33 106.24 1,011.35 117.98 Rice, milled : 2004/05 : 400.47 485.87 28.36 407.72 78.15 2005/06 (Est.) : 415.51 493.66 27.80 413.21 80.44 2006/07 (Proj.) : December : 416.38 496.80 28.17 418.19 78.60 January : 415.02 495.47 28.92 417.74 77.73 : : United States Total grains 3/ : 2004/05 : 385.62 434.59 83.91 275.97 74.71 2005/06 (Est.) : 363.16 442.69 91.28 279.73 71.68 2006/07 (Proj.) : December : 341.17 418.88 88.38 290.35 40.14 January : 335.58 413.48 88.72 288.69 36.07 Wheat : 2004/05 : 58.74 75.53 29.01 31.82 14.70 2005/06 (Est.) : 57.28 74.20 27.47 31.19 15.55 2006/07 (Proj.) : December : 49.32 67.72 24.49 31.30 11.93 January : 49.32 67.99 23.81 31.33 12.85 Coarse grains 4/ : 2004/05 : 319.42 350.42 51.41 240.22 58.80 2005/06 (Est.) : 298.76 359.62 60.13 244.73 54.77 2006/07 (Proj.) : December : 285.72 343.08 60.65 255.15 27.28 January : 280.11 337.40 61.67 253.46 22.27 Rice, milled : 2004/05 : 7.46 8.64 3.50 3.94 1.21 2005/06 (Est.) : 7.11 8.87 3.69 3.81 1.37 2006/07 (Proj.) : December : 6.14 8.08 3.24 3.91 0.94 January : 6.15 8.09 3.24 3.91 0.95 =============================================================================== 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-442-9 World and U.S. Supply and Use for Grains, Continued 1/ Million Metric Tons =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : Foreign 3/ Total grains 4/ : 2004/05 : 1,657.76 1,966.79 157.29 1,717.62 333.08 2005/06 (Est.) : 1,649.63 1,977.89 159.67 1,746.04 323.13 2006/07 (Proj.) : December : 1,632.76 1,950.54 154.36 1,755.59 283.33 January : 1,632.58 1,949.49 155.32 1,756.74 281.46 Wheat : 2004/05 : 570.11 686.00 82.20 578.29 136.72 2005/06 (Est.) : 562.49 696.98 88.63 592.57 131.88 2006/07 (Proj.) : December : 539.25 668.22 84.94 583.90 108.81 January : 541.44 670.19 85.07 585.03 108.97 Coarse grains 5/ : 2004/05 : 694.63 803.56 50.23 735.54 119.43 2005/06 (Est.) : 678.75 796.12 46.92 744.06 112.18 2006/07 (Proj.) : December : 683.27 793.60 44.50 757.40 96.85 January : 682.27 791.93 44.58 757.89 95.71 Rice, milled : 2004/05 : 393.01 477.23 24.86 403.79 76.94 2005/06 (Est.) : 408.40 484.79 24.11 409.41 79.07 2006/07 (Proj.) : December : 410.24 488.72 24.93 414.29 77.67 January : 408.87 487.37 25.68 413.83 76.78 =============================================================================== 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 2004/05 : 120.39 163.43 35.03 108.82 54.09 2005/06 (Est.) : 114.14 168.23 44.70 115.80 54.33 2006/07 (Proj.) : December : 115.86 170.08 41.20 121.00 51.49 January : 116.72 171.05 40.33 121.17 52.26 : United States 2004/05 : 23.25 26.73 14.44 6.69 5.50 2005/06 (Est.) : 23.89 29.41 18.04 5.89 6.05 2006/07 (Proj.) : December : 21.30 27.38 16.00 5.10 6.30 January : 21.73 27.80 15.70 5.00 7.10 : Foreign 3/ 2004/05 : 97.14 136.70 20.59 102.13 48.60 2005/06 (Est.) : 90.25 138.82 26.66 109.91 48.28 2006/07 (Proj.) : December : 94.56 142.70 25.20 115.90 45.19 January : 94.99 143.24 24.63 116.17 45.16 =============================================================================== 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-442-10 World and U.S. Supply and Use for Oilseeds 1/ (Million Metric Tons) =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade : Use 2/ : Stocks =============================================================================== : : World Oilseeds : 2004/05 : 381.32 425.19 74.59 302.08 56.38 2005/06 (Est.) : 388.38 444.75 76.64 317.29 61.66 2006/07 (Proj.) : December : 395.50 457.15 82.93 329.50 62.33 January : 395.43 457.09 82.68 329.33 62.87 Oilmeals : 2004/05 : 205.89 212.28 60.48 204.22 7.42 2005/06 (Est.) : 214.81 222.24 65.79 215.09 6.17 2006/07 (Proj.) : December : 224.29 230.46 67.55 224.59 5.23 January : 224.47 230.64 67.96 224.26 5.42 Vegetable Oils : 2004/05 : 111.40 119.75 42.42 108.43 9.80 2005/06 (Est.) : 118.10 127.90 45.96 115.58 9.95 2006/07 (Proj.) : December : 123.71 133.39 48.33 122.07 9.43 January : 123.69 133.64 48.33 122.08 9.72 : : United States Oilseeds : 2004/05 : 95.94 100.77 30.71 50.17 8.29 2005/06 (Est.) : 95.53 104.49 26.81 51.90 14.20 2006/07 (Proj.) : December : 97.03 112.06 32.05 52.95 16.69 January : 96.88 111.95 31.53 52.99 17.05 Oilmeals : 2004/05 : 39.27 41.07 6.96 33.90 0.22 2005/06 (Est.) : 40.01 41.88 7.65 33.88 0.35 2006/07 (Proj.) : December : 41.09 43.11 7.99 34.80 0.33 January : 41.10 43.12 8.17 34.63 0.33 Vegetable Oils : 2004/05 : 9.76 12.39 0.84 10.45 1.09 2005/06 (Est.) : 10.41 13.89 0.90 11.19 1.80 2006/07 (Proj.) : December : 10.34 14.58 0.91 12.10 1.57 January : 10.33 14.67 1.01 12.11 1.55 : : Foreign 3/ Oilseeds : 2004/05 : 285.39 324.41 43.88 251.92 48.09 2005/06 (Est.) : 292.84 340.27 49.83 265.39 47.46 2006/07 (Proj.) : December : 298.47 345.09 50.89 276.55 45.64 January : 298.55 345.14 51.14 276.35 45.82 Oilmeals : 2004/05 : 166.62 171.21 53.52 170.32 7.21 2005/06 (Est.) : 174.81 180.35 58.14 181.21 5.82 2006/07 (Proj.) : December : 183.21 187.35 59.57 189.80 4.90 January : 183.37 187.51 59.79 189.64 5.09 Vegetable Oils : 2004/05 : 101.64 107.36 41.58 97.98 8.71 2005/06 (Est.) : 107.69 114.00 45.06 104.38 8.15 2006/07 (Proj.) : December : 113.37 118.82 47.43 109.98 7.86 January : 113.36 118.97 47.32 109.97 8.17 =============================================================================== 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-442-11 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : December January =============================================================================== Area : Million acres Planted : 59.7 57.2 57.3 57.3 Harvested : 50.0 50.1 46.8 46.8 Yield per harvested : Bushels acre : 43.2 42.0 38.7 38.7 : Million bushels Beginning stocks : 546 540 571 571 Production : 2,158 2,105 1,812 1,812 Imports : 71 82 105 115 Supply, total : 2,775 2,727 2,488 2,498 Food : 910 915 925 925 Seed : 78 78 80 81 Feed and residual : 182 153 145 145 Domestic, total : 1,169 1,146 1,150 1,151 Exports : 1,066 1,009 900 875 Use, total : 2,235 2,155 2,050 2,026 Ending stocks : 540 571 438 472 CCC inventory : 54 43 35 35 Free stocks : 486 528 403 437 Outstanding loans : 58 42 15 15 Avg. farm price ($/bu) 2/ : 3.40 3.42 4.15- 4.45 4.15- 4.45 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 2005/06 (estimated) : Million bushels Beginning stocks : 193 159 88 63 38 540 Production : 930 467 309 298 101 2,105 Supply, total 3/ : 1,123 638 424 371 171 2,727 Domestic use : 478 225 241 118 84 1,146 Exports : 430 282 76 175 47 1,009 Use, total : 908 506 318 293 131 2,155 Ending stocks, total : 215 132 106 78 40 571 : 2006/07 (projected) : Beginning stocks : 215 132 106 78 40 571 Production : 682 432 390 254 53 1,812 Supply, total 3/ : 898 613 511 342 134 2,498 Domestic use : 466 229 282 96 78 1,151 Exports : 265 250 130 200 30 875 Use, total : 731 479 412 296 108 2,026 Ending stocks, total : January : 167 134 100 46 26 472 December : 158 118 97 45 20 438 =============================================================================== 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-442-12 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : December January =============================================================================== FEED GRAINS : Area : Million acres Planted : 97.0 96.4 92.5 92.5 Harvested : 86.0 85.9 80.9 80.1 Yield per harvested : Metric tons acre : 3.71 3.47 3.53 3.49 : Million metric tons Beginning stocks : 28.7 58.8 54.8 54.7 Production : 319.2 298.6 285.5 279.9 Imports : 2.1 1.9 2.4 2.4 Supply, total : 350.1 359.3 342.8 337.1 Feed and residual : 165.8 162.9 159.1 157.8 Food, seed & industrial : 74.1 81.5 95.8 95.4 Domestic, total : 239.9 244.4 254.8 253.2 Exports : 51.4 60.1 60.6 61.7 Use, total : 291.3 304.5 315.5 314.8 Ending stocks, total : 58.8 54.7 27.3 22.3 CCC inventory : 0.0 0.0 0.0 0.0 Free stocks : 58.8 54.7 27.3 22.3 Outstanding loans : 7.2 4.4 6.4 5.8 : CORN : Area : Million acres Planted : 80.9 81.8 78.6 78.3 Harvested : 73.6 75.1 71.0 70.6 Yield per harvested : Bushels acre : 160.4 148.0 151.2 149.1 : Million bushels Beginning stocks : 958 2,114 1,971 1,967 Production : 11,807 11,114 10,745 10,535 Imports : 11 9 10 10 Supply, total : 12,776 13,237 12,725 12,512 Feed and residual : 6,158 6,141 6,050 5,975 Food, seed & industrial : 2,686 2,981 3,540 3,535 Ethanol for fuel 2/ : 1,323 1,603 2,150 2,150 Domestic, total : 8,844 9,122 9,590 9,510 Exports : 1,818 2,147 2,200 2,250 Use, total : 10,662 11,270 11,790 11,760 Ending stocks, total : 2,114 1,967 935 752 CCC inventory : 1 0 0 0 Free stocks : 2,113 1,967 935 752 Outstanding loans : 280 171 250 225 Avg. farm price ($/bu) 3/ : 2.06 2.00 2.90- 3.30 3.00- 3.40 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a further breakout of FSI corn uses including ethanol, see the Feed Outlook table 5 or access the data on the Web through the Feed Grain Data Delivery System (http://www.ers.usda.gov/db/feedgrains/). 3/ Marketing-year weighted average price received by farmers. WASDE-442-13 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : December January =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 7.5 6.5 6.3 6.5 Area harv. (mil. acres) : 6.5 5.7 5.3 4.9 Yield (bushels/acre) : 69.6 68.5 54.2 56.2 Beginning stocks : 34 57 65 66 Production : 454 393 288 278 Imports : 0 0 0 0 Supply, total : 487 450 354 343 Feed and residual : 191 140 95 110 Food, seed & industrial : 55 50 55 45 Total domestic : 246 190 150 155 Exports : 184 195 165 155 Use, total : 430 384 315 310 Ending stocks, total : 57 66 39 33 Avg. farm price ($/bu) 2/ : 1.79 1.86 2.90- 3.30 3.00- 3.40 : BARLEY : Area planted (mil. acres) : 4.5 3.9 3.5 3.5 Area harv. (mil. acres) : 4.0 3.3 3.0 3.0 Yield (bushels/acre) : 69.6 64.8 61.0 61.0 Beginning stocks : 120 128 108 108 Production : 280 212 180 180 Imports : 12 5 15 15 Supply, total : 412 346 303 303 Feed and residual : 103 52 40 50 Food, seed & industrial : 158 158 155 155 Total domestic : 261 210 195 205 Exports : 23 28 25 25 Use, total : 284 238 220 230 Ending stocks, total : 128 108 83 73 Avg. farm price ($/bu) 2/ : 2.48 2.53 2.75- 3.05 2.75- 3.05 : OATS : Area planted (mil. acres) : 4.1 4.2 4.2 4.2 Area harv. (mil. acres) : 1.8 1.8 1.6 1.6 Yield (bushels/acre) : 64.7 63.0 59.5 59.5 Beginning stocks : 65 58 53 53 Production : 116 115 94 94 Imports : 90 91 105 105 Supply, total : 271 264 251 251 Feed and residual : 136 135 125 125 Food, seed & industrial : 74 74 75 75 Total domestic : 210 209 200 200 Exports : 3 2 2 2 Use, total : 213 211 202 202 Ending stocks, total : 58 53 49 49 Avg. farm price ($/bu) 2/ : 1.48 1.63 1.75- 1.95 1.75- 1.95 =============================================================================== 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-442-14 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : December January =============================================================================== TOTAL : Area : Million acres Planted : 3.35 3.38 2.84 2.84 Harvested : 3.33 3.36 2.82 2.82 Yield per harvested : Pounds acre : 6,988 6,636 6,847 6,868 : : Million hundredweight : Beginning stocks 2/ : 23.7 37.7 43.0 43.0 Production : 232.4 223.2 193.3 193.7 Imports : 13.2 17.1 18.0 18.0 Supply, total : 269.2 278.1 254.3 254.7 Domestic & residual 3/ : 122.7 119.3 122.8 122.8 Exports, total 4/ : 108.8 115.8 102.0 102.0 Rough : 33.9 34.1 38.0 38.0 Milled (rough equiv.) : 75.0 81.6 64.0 64.0 Use, total : 231.5 235.1 224.8 224.8 Ending stocks : 37.7 43.0 29.5 29.9 Avg. milling yield (%) 5/ : 70.8 70.2 70.0 70.0 Avg. farm price ($/cwt) 6/ : 7.33 7.62 9.55- 9.95 9.70-10.00 : LONG GRAIN : Harvested acres (mil.) : 2.57 2.73 2.19 Yield (pounds/acre) : 6,630 6,493 6,689 Beginning stocks : 10.3 22.7 32.7 32.7 Production : 170.4 177.5 143.7 146.2 Supply, total 7/ : 191.3 212.5 189.3 191.9 Domestic & Residual 3/ : 84.7 86.9 89.8 89.8 Exports 8/ : 83.8 93.0 79.0 80.0 Use, total : 168.5 179.9 168.8 169.8 Ending stocks : 22.7 32.7 20.6 22.1 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.75 0.63 0.64 Yield (pounds/acre) : 8,212 7,255 7,484 Beginning stocks : 12.4 13.8 9.4 9.4 Production : 61.9 45.7 49.6 47.5 Supply, total 7/ : 76.8 64.7 64.1 62.0 Domestic & Residual 3/ : 38.0 32.5 33.1 33.1 Exports 8/ : 25.0 22.8 23.0 22.0 Use, total : 63.0 55.2 56.1 55.1 Ending stocks : 13.8 9.4 8.0 6.9 =============================================================================== 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): 2004/05-1.0; 2005/06-1.1; 2006/07-0.9. 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-442-15 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :=============================== : : Est. : December January =============================================================================== SOYBEANS: : Million acres Area : Planted : 75.2 72.0 75.6 75.5 Harvested : 74.0 71.3 74.5 74.6 : : Bushels Yield per harvested : acre : 42.2 43.0 43.0 42.7 : : Million bushels : Beginning stocks : 112 256 449 449 Production : 3,124 3,063 3,204 3,188 Imports : 6 3 4 4 Supply, total : 3,242 3,322 3,657 3,642 Crushings : 1,696 1,739 1,780 1,780 Exports : 1,097 947 1,145 1,120 Seed : 88 93 91 91 Residual : 104 94 75 75 Use, total : 2,986 2,873 3,091 3,066 Ending stocks : 256 449 565 575 Avg. farm price ($/bu) 2/ : 5.74 5.66 5.70- 6.50 5.75 - 6.45 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,076 1,699 3,019 3,019 Production : 19,360 20,393 20,205 20,165 Imports : 26 35 55 55 Supply, total : 20,462 22,127 23,279 23,239 Domestic : 17,439 17,955 19,200 19,100 Exports : 1,324 1,153 1,350 1,450 Use, total : 18,763 19,108 20,550 20,550 Ending stocks : 1,699 3,019 2,729 2,689 Average price (c/lb) 2/ : 23.01 23.41 26.00- 26.50- : 29.00 28.50 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 211 172 314 314 Production : 40,715 41,242 42,421 42,421 Imports : 147 141 165 165 Supply, total : 41,073 41,555 42,900 42,900 Domestic : 33,561 33,176 34,100 33,900 Exports : 7,340 8,064 8,500 8,700 Use, total : 40,901 41,241 42,600 42,600 Ending stocks : 172 314 300 300 Average price ($/s.t.) 2/ : 182.89 174.17 165.00- 170.00- : 190.00 185.00 =============================================================================== 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-442-16 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 2006/07 Projection Item : 2004/05 : 2005/06 :====================== : : Estimate : December January ====================================================================== : 1,000 short tons, raw value : Beginning stocks : 1,897 1,332 1,698 1,698 Production 2/ : 7,877 7,399 8,695 8,615 Beet sugar : 4,611 4,444 5,092 5,078 Cane sugar : 3,266 2,955 3,603 3,537 Florida : 1,693 1,367 1,736 1,756 Hawaii : 258 223 249 248 Louisiana : 1,157 1,190 1,420 1,335 Texas : 158 175 198 198 Imports : 2,100 3,443 2,203 2,103 TRQ 3/ : 1,408 2,588 1,818 1,718 Other program 4/ : 500 349 325 325 Other 5/ : 192 506 60 60 Supply, total : 11,874 12,174 12,596 12,416 : Exports : 259 203 200 200 Deliveries : 10,188 10,341 10,415 10,415 Food : 10,019 10,184 10,250 10,250 Other 6/ : 169 157 165 165 Miscellaneous 7/ : 95 -68 0 0 Use, total : 10,542 10,476 10,615 10,615 Ending stocks : 1,332 1,698 1,981 1,801 : Stocks to use ratio : 12.6 16.2 18.7 17.0 ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. Historical data are from FSA, "Sweetener Market Data" (SMD) except imports (U.S. Customs Service, Census Bureau). 2/ Projections for 2006/07 are based on processors' submissions 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 2006/07, includes shortfall of 175,000 tons. 4/ Includes sugar under the re-export and polyhydric alcohol programs. 5/ For 2005/06, high-tier (450) and other (56). For 2006/07, high-tier (50) and other (10). 6/ Transfers to sugar- containing products for reexport, and for nonedible alcohol and feed. 7/ Includes SMD miscellaneous uses and the difference between SMD imports and WASDE imports. WASDE-442-17 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :=============================== : : Est. : December January =============================================================================== : Million acres Area : Planted : 13.66 14.25 15.28 15.27 Harvested : 13.06 13.80 12.82 12.73 : : Pounds Yield per harvested : acre : 855 831 798 819 : : Million 480 pound bales : Beginning stocks 2/ : 3.45 5.50 6.05 6.05 Production : 23.25 23.89 21.30 21.73 Imports : 0.03 0.03 0.03 0.03 Supply, total : 26.73 29.41 27.38 27.80 Domestic use : 6.69 5.89 5.10 5.00 Exports : 14.44 18.04 16.00 15.70 Use, total : 21.13 23.92 21.10 20.70 Unaccounted 3/ : 0.11 -0.56 -0.02 0.00 Ending stocks : 5.50 6.05 6.30 7.10 : Avg. farm price 4/ : 41.6 47.7 46.4 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/ Average price for August-November 2006. 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 2006/07 is 35.0 percent. WASDE-442-18 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2004/05 : World 3/ : 132.68 628.85 109.90 106.57 610.11 111.21 151.42 United States : 14.87 58.74 1.92 4.96 31.82 29.01 14.70 Total foreign : 117.81 570.11 107.98 101.61 578.29 82.20 136.72 Major exporters 4/ : 23.44 201.24 7.72 65.36 135.71 55.91 40.77 Argentina : 1.40 16.00 0.00 0.08 5.01 11.83 0.55 Australia : 5.36 22.60 0.08 3.50 6.20 14.74 7.09 Canada : 6.08 25.86 0.25 5.09 9.30 14.97 7.92 EU-25 5/ : 10.60 136.78 7.39 56.70 115.20 14.37 25.21 Major importers 6/ : 62.69 156.40 60.59 8.29 214.37 3.40 61.91 Brazil : 0.51 5.85 5.21 0.30 10.20 0.02 1.35 China : 43.29 91.95 6.75 4.00 102.00 1.17 38.82 Select. Mideast 7/ : 5.56 18.66 9.60 1.95 28.27 0.60 4.96 N. Africa 8/ : 7.47 17.17 18.41 0.30 32.61 0.21 10.22 Pakistan : 1.38 19.50 1.42 0.40 20.00 0.05 2.25 Southeast Asia 9/ : 2.03 0.00 9.75 0.91 9.30 0.43 2.05 Selected other : India : 6.90 72.15 0.01 0.50 72.84 2.12 4.10 FSU-12 : 10.99 86.83 4.55 20.81 72.93 15.19 14.25 Russia : 2.65 45.40 1.20 13.60 37.40 7.95 3.89 Kazakhstan : 3.78 9.95 0.02 2.70 7.40 2.70 3.64 Ukraine : 1.13 17.50 0.03 2.10 11.70 4.35 2.61 : : 2005/06 (Estimated) : World 3/ : 151.42 619.77 110.24 111.16 623.76 116.10 147.42 United States : 14.70 57.28 2.22 4.17 31.19 27.47 15.55 Total foreign : 136.72 562.49 108.02 106.99 592.57 88.63 131.88 Major exporters 4/ : 40.77 187.76 7.97 69.26 140.03 55.94 40.53 Argentina : 0.55 13.80 0.01 0.08 5.00 8.80 0.56 Australia : 7.09 24.50 0.08 3.70 6.40 16.01 9.26 Canada : 7.92 26.78 0.28 4.98 9.13 16.10 9.74 EU-25 5/ : 25.21 122.69 7.61 60.50 119.50 15.03 20.97 Major importers 6/ : 61.91 162.22 58.53 8.30 218.85 4.40 59.40 Brazil : 1.35 4.87 6.72 0.60 10.80 0.81 1.33 China : 38.82 97.45 1.02 3.50 101.00 1.40 34.89 Select. Mideast 7/ : 4.96 19.32 12.06 1.85 29.67 0.60 6.06 N. Africa 8/ : 10.22 15.18 18.44 0.30 33.79 0.22 9.84 Pakistan : 2.25 21.50 0.95 0.40 21.50 0.05 3.15 Southeast Asia 9/ : 2.05 0.00 10.33 1.23 10.01 0.38 1.99 Selected other : India : 4.10 68.64 0.03 0.30 69.97 0.80 2.00 FSU-12 : 14.25 92.20 4.68 23.01 75.24 20.31 15.57 Russia : 3.89 47.70 1.28 14.90 38.40 10.66 3.81 Kazakhstan : 3.64 11.00 0.04 2.70 7.40 3.00 4.28 Ukraine : 2.61 18.70 0.07 2.90 12.50 6.46 2.41 =============================================================================== 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-442-19 World Wheat Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2006/07 (Projected) World 3/ : December : 147.37 588.56 110.38 104.28 615.20 109.43 120.74 January : 147.42 590.75 109.75 105.28 616.35 108.88 121.83 United States : December : 15.55 49.32 2.86 3.95 31.30 24.49 11.93 January : 15.55 49.32 3.13 3.95 31.33 23.81 12.85 Total foreign : December : 131.83 539.25 107.52 100.33 583.90 84.94 108.81 January : 131.88 541.44 106.62 101.33 585.03 85.07 108.97 Major exporters 4/ : December : 40.48 169.24 7.13 66.08 137.00 56.50 23.35 January : 40.53 169.93 7.13 66.68 137.60 56.00 23.99 Argentina Dec : 0.56 14.20 0.01 0.08 4.90 9.50 0.37 Jan : 0.56 14.20 0.01 0.08 4.90 9.50 0.37 Australia Dec : 9.26 10.50 0.08 4.20 6.90 10.50 2.43 Jan : 9.26 10.50 0.08 4.20 6.90 10.50 2.43 Canada Dec : 9.74 27.30 0.25 4.80 9.20 20.50 7.59 Jan : 9.74 27.30 0.25 4.80 9.20 20.50 7.59 EU-25 5/ Dec : 20.92 117.24 6.80 57.00 116.00 16.00 12.95 Jan : 20.97 117.93 6.80 57.60 116.60 15.50 13.60 Major importers 6/ : December : 59.40 168.54 54.83 7.83 220.09 5.17 57.51 January : 59.40 168.54 53.93 7.73 219.89 5.17 56.81 Brazil Dec : 1.33 2.25 7.50 0.10 10.40 0.03 0.66 Jan : 1.33 2.25 7.50 0.10 10.40 0.03 0.66 China Dec : 34.89 103.50 0.70 4.00 101.00 2.50 35.59 Jan : 34.89 103.50 0.70 4.00 101.00 2.50 35.59 Sel. Mideast 7/Dec : 6.06 18.80 10.48 1.50 29.54 0.60 5.20 Jan : 6.06 18.80 9.98 1.40 29.44 0.60 4.80 N. Africa 8/ Dec : 9.84 18.33 16.40 0.30 34.98 0.22 9.37 Jan : 9.84 18.33 16.40 0.30 34.98 0.22 9.37 Pakistan Dec : 3.15 21.70 0.60 0.40 22.00 0.50 2.95 Jan : 3.15 21.70 0.20 0.40 21.90 0.50 2.65 SE Asia 9/ Dec : 1.99 0.00 10.05 1.12 10.02 0.41 1.61 Jan : 1.99 0.00 10.05 1.12 10.02 0.41 1.61 Selected other : India Dec : 2.00 68.00 6.00 0.30 72.50 0.50 3.00 Jan : 2.00 68.00 6.00 0.30 72.70 0.30 3.00 FSU-12 Dec : 15.57 82.69 4.04 20.31 72.45 17.16 12.69 Jan : 15.57 84.09 4.04 21.01 73.15 17.46 13.09 Russia Dec : 3.81 43.50 1.20 13.70 36.90 8.50 3.11 Jan : 3.81 44.90 1.20 14.10 37.30 9.50 3.11 Kazakhstan Dec : 4.28 11.50 0.02 2.70 7.60 5.00 3.20 Jan : 4.28 11.50 0.02 2.70 7.60 5.00 3.20 Ukraine Dec : 2.41 14.30 0.10 1.80 11.20 3.50 2.11 Jan : 2.41 14.30 0.10 2.10 11.50 2.80 2.51 =============================================================================== 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 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-442-20 World Coarse Grain Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2004/05 : World 3/ : 139.93 1014.05 101.18 641.26 975.76 101.64 178.23 United States : 28.76 319.42 2.24 165.86 240.22 51.41 58.80 Total foreign : 111.17 694.63 98.94 475.40 735.54 50.23 119.43 Major exporters 4/ : 10.47 75.13 3.04 36.62 50.04 24.89 13.70 Argentina : 0.95 24.90 0.01 6.60 9.06 15.24 1.56 Australia : 2.25 11.57 0.00 5.61 6.88 4.62 2.32 Canada : 4.08 26.45 2.47 19.21 23.80 2.85 6.34 Major importers 5/ : 32.90 225.04 76.28 214.16 283.31 4.61 46.29 EU-25 6/ : 12.62 150.21 3.68 106.54 138.82 4.01 23.69 Japan : 1.85 0.20 19.71 15.05 19.88 0.00 1.88 Mexico : 5.77 28.95 8.98 22.13 38.28 0.03 5.40 N. Afr & Mideast 7/: 6.16 28.34 20.29 39.01 46.07 0.06 8.66 Saudi Arabia : 2.43 0.20 6.91 6.65 6.84 0.00 2.71 Southeast Asia 8/ : 1.62 16.73 3.24 13.37 19.38 0.52 1.69 South Korea : 1.34 0.34 8.71 6.66 9.01 0.00 1.38 Selected other : China : 45.48 138.25 2.07 100.21 141.17 7.62 37.02 Other Europe : 1.70 29.05 0.64 19.83 24.96 2.31 4.12 FSU-12 : 5.96 62.95 1.06 38.09 54.62 8.10 7.26 Russia : 2.93 29.60 0.68 19.00 29.40 1.13 2.67 Ukraine : 1.62 23.00 0.02 11.35 15.20 6.77 2.67 : : 2005/06 (Estimated) : World 3/ : 178.23 977.51 104.31 634.53 988.79 107.05 166.95 United States : 58.80 298.76 2.06 162.98 244.73 60.13 54.77 Total foreign : 119.43 678.75 102.26 471.56 744.06 46.92 112.18 Major exporters 4/ : 13.70 66.33 3.12 36.84 49.99 20.52 12.64 Argentina : 1.56 19.22 0.00 6.86 9.42 10.00 1.36 Australia : 2.32 13.76 0.00 5.86 7.14 5.67 3.27 Canada : 6.34 26.04 1.99 19.51 23.96 4.08 6.33 Major importers 5/ : 46.29 202.08 77.98 209.80 278.73 5.14 42.49 EU-25 6/ : 23.69 131.75 3.48 100.31 132.45 3.82 22.66 Japan : 1.88 0.19 19.77 15.16 19.99 0.00 1.84 Mexico : 5.40 25.83 9.94 21.20 37.61 0.25 3.31 N. Afr & Mideast 7/: 8.66 26.54 18.74 38.99 45.86 0.87 7.21 Saudi Arabia : 2.71 0.20 8.47 8.00 8.19 0.00 3.20 Southeast Asia 8/ : 1.69 17.18 4.41 15.03 20.89 0.20 2.19 South Korea : 1.38 0.33 8.55 6.56 8.91 0.00 1.35 Selected other : China : 37.02 147.70 2.31 103.12 147.46 3.76 35.81 Other Europe : 4.12 26.80 0.74 19.31 24.91 2.53 4.22 FSU-12 : 7.26 55.08 1.15 33.51 49.48 8.45 5.56 Russia : 2.67 27.60 0.61 17.65 27.70 1.78 1.40 Ukraine : 2.67 18.14 0.09 8.45 11.99 6.50 2.42 =============================================================================== 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-442-21 World Coarse Grain Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2006/07 (Projected) World 3/ : December : 167.70 968.99 101.98 639.69 1012.55 105.15 124.14 January : 166.95 962.38 103.01 638.40 1011.35 106.24 117.98 United States : December : 54.84 285.72 2.52 159.13 255.15 60.65 27.28 January : 54.77 280.11 2.52 157.83 253.46 61.67 22.27 Total foreign : December : 112.85 683.27 99.46 480.56 757.40 44.50 96.85 January : 112.18 682.27 100.49 480.58 757.89 44.58 95.71 Major exporters 4/ : December : 12.69 65.21 3.00 38.03 52.02 19.43 9.45 January : 12.64 65.36 3.00 37.80 51.79 19.78 9.43 Argentina Dec : 1.41 23.40 0.00 7.91 10.57 12.56 1.68 Jan : 1.36 23.57 0.00 7.71 10.37 12.91 1.66 Australia Dec : 3.27 7.76 0.00 5.99 7.22 2.55 1.27 Jan : 3.27 7.76 0.00 5.99 7.22 2.55 1.27 Canada Dec : 6.33 23.52 2.37 19.37 24.59 3.55 4.09 Jan : 6.33 23.49 2.37 19.34 24.56 3.55 4.09 Major importers 5/ : December : 42.64 202.09 76.87 212.99 282.71 4.23 34.66 January : 42.49 201.25 77.74 213.29 283.01 4.23 34.25 EU-25 6/ Dec : 22.78 127.22 4.27 102.05 134.48 3.71 16.09 Jan : 22.66 126.39 4.85 102.05 134.48 3.71 15.71 Japan Dec : 1.84 0.17 19.50 14.97 19.90 0.00 1.61 Jan : 1.84 0.17 19.50 14.97 19.90 0.00 1.61 Mexico Dec : 3.31 29.13 9.10 21.78 38.28 0.00 3.26 Jan : 3.31 29.13 9.40 22.08 38.58 0.00 3.26 N Afr/M.East 7/Dec : 7.27 28.03 18.94 39.74 47.09 0.30 6.84 Jan : 7.21 28.03 18.94 39.74 47.09 0.30 6.79 Saudi Arabia Dec : 3.20 0.20 7.50 7.83 8.01 0.00 2.89 Jan : 3.20 0.20 7.50 7.83 8.01 0.00 2.89 S.-east Asia 8/Dec : 2.16 16.93 4.06 15.27 20.93 0.23 1.99 Jan : 2.19 16.93 4.06 15.27 20.93 0.23 2.02 South Korea Dec : 1.35 0.33 8.87 6.85 9.23 0.00 1.32 Jan : 1.35 0.33 8.87 6.85 9.23 0.00 1.32 Selected other : China Dec : 35.81 151.44 2.34 105.17 151.58 4.03 33.98 Jan : 35.81 151.44 2.14 104.97 151.38 4.03 33.98 Other Europe Dec : 4.34 23.77 0.65 18.59 24.05 2.38 2.32 Jan : 4.22 23.97 0.65 18.59 24.05 2.53 2.25 FSU-12 Dec : 5.55 59.45 0.98 35.66 50.95 9.68 5.35 Jan : 5.56 58.95 0.98 35.46 51.20 8.28 6.00 Russia Dec : 1.39 30.70 0.65 18.50 28.35 2.60 1.79 Jan : 1.40 30.20 0.65 18.00 28.05 2.60 1.60 Ukraine Dec : 2.42 19.95 0.07 10.25 13.50 6.70 2.24 Jan : 2.42 19.95 0.07 10.55 14.05 5.30 3.09 =============================================================================== 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-442-22 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2004/05 : World 3/ : 103.51 712.27 77.10 471.48 684.97 78.18 130.81 United States : 24.34 299.91 0.28 156.43 224.65 46.18 53.70 Total foreign : 79.18 412.36 76.83 315.05 460.32 32.00 77.11 Major exporters 4/ : 3.18 32.22 0.37 8.50 14.90 16.72 4.15 Argentina : 0.22 20.50 0.01 3.50 5.20 14.57 0.96 South Africa : 2.96 11.72 0.36 5.00 9.70 2.14 3.19 Major importers 5/ : 12.97 97.52 47.22 100.52 140.09 0.70 16.91 Egypt : 0.48 5.84 5.40 9.50 11.30 0.00 0.42 EU-25 6/ : 2.94 52.97 2.97 42.00 51.70 0.16 7.01 Japan : 1.04 0.00 16.49 12.00 16.50 0.00 1.03 Mexico : 4.46 22.05 5.95 12.60 27.90 0.03 4.53 Southeast Asia 7/ : 1.61 16.53 3.23 13.20 19.20 0.51 1.66 South Korea : 1.34 0.08 8.63 6.62 8.67 0.00 1.38 Selected other : Brazil : 7.88 35.00 0.50 32.10 38.50 0.68 4.19 Canada : 1.14 8.84 2.37 7.91 10.31 0.24 1.80 China : 44.85 130.29 0.00 98.00 131.00 7.59 36.56 Other Europe : 1.18 23.70 0.43 16.58 20.17 1.72 3.40 FSU-12 : 1.36 15.39 0.55 11.01 12.71 2.42 2.17 Ukraine : 0.84 8.80 0.01 5.30 6.00 2.33 1.32 : : 2005/06 (Estimated) : World 3/ : 130.81 695.58 79.23 474.64 701.40 80.67 124.99 United States : 53.70 282.31 0.23 155.99 231.72 54.55 49.97 Total foreign : 77.11 413.27 79.00 318.65 469.67 26.12 75.02 Major exporters 4/ : 4.15 22.74 1.00 8.80 15.10 10.25 2.53 Argentina : 0.96 15.80 0.00 4.40 6.20 9.50 1.06 South Africa : 3.19 6.94 1.00 4.40 8.90 0.75 1.48 Major importers 5/ : 16.91 91.07 48.29 97.91 137.35 0.55 18.36 Egypt : 0.42 5.86 4.40 8.40 10.20 0.00 0.47 EU-25 6/ : 7.01 48.62 3.14 39.20 48.70 0.12 9.94 Japan : 1.03 0.00 16.62 12.10 16.60 0.00 1.05 Mexico : 4.53 19.50 6.79 12.40 27.90 0.25 2.67 Southeast Asia 7/ : 1.66 16.98 4.40 14.85 20.70 0.18 2.16 South Korea : 1.38 0.06 8.48 6.51 8.58 0.00 1.35 Selected other : Brazil : 4.19 41.70 1.00 32.50 39.00 4.00 3.89 Canada : 1.80 9.46 1.93 8.71 10.94 0.25 2.00 China : 36.56 139.36 0.06 101.00 137.00 3.73 35.26 Other Europe : 3.40 22.18 0.45 16.23 20.34 2.08 3.61 FSU-12 : 2.17 13.13 0.62 10.12 11.76 2.54 1.61 Ukraine : 1.32 7.15 0.01 4.40 5.10 2.46 0.92 =============================================================================== 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-442-23 World Corn Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2006/07 (Projected) World 3/ : December : 125.62 692.89 78.91 478.16 725.77 82.03 92.74 January : 124.99 687.20 80.16 477.91 725.75 83.45 86.44 United States : December : 50.06 272.93 0.25 153.68 243.60 55.88 23.76 January : 49.97 267.60 0.25 151.77 241.56 57.15 19.10 Total foreign : December : 75.57 419.96 78.66 324.49 482.17 26.15 68.98 January : 75.02 419.60 79.91 326.14 484.19 26.30 67.33 Major exporters 4/ : December : 2.53 29.00 0.50 9.60 16.00 12.75 3.28 January : 2.53 29.00 0.50 9.60 16.00 12.75 3.28 Argentina Dec : 1.06 19.00 0.00 5.10 7.00 12.00 1.06 Jan : 1.06 19.00 0.00 5.10 7.00 12.00 1.06 South Africa Dec : 1.48 10.00 0.50 4.50 9.00 0.75 2.23 Jan : 1.48 10.00 0.50 4.50 9.00 0.75 2.23 Major importers 5/ : December : 18.41 89.10 48.45 99.60 139.57 0.35 16.03 January : 18.36 88.65 49.45 100.60 140.57 0.35 15.54 Egypt Dec : 0.47 5.87 4.80 8.60 10.60 0.00 0.54 Jan : 0.47 5.87 4.80 8.60 10.60 0.00 0.54 EU-25 6/ Dec : 10.01 44.39 3.50 40.00 49.80 0.15 7.95 Jan : 9.94 43.93 4.00 40.50 50.30 0.15 7.42 Japan Dec : 1.05 0.00 16.50 12.00 16.60 0.00 0.95 Jan : 1.05 0.00 16.50 12.00 16.60 0.00 0.95 Mexico Dec : 2.67 22.00 6.30 12.70 28.30 0.00 2.67 Jan : 2.67 22.00 6.80 13.20 28.80 0.00 2.67 S.-east Asia 7/Dec : 2.13 16.73 4.05 15.10 20.75 0.20 1.96 Jan : 2.16 16.73 4.05 15.10 20.75 0.20 1.99 South Korea Dec : 1.35 0.07 8.80 6.80 8.90 0.00 1.32 Jan : 1.35 0.07 8.80 6.80 8.90 0.00 1.32 Selected other : Brazil Dec : 4.39 42.00 0.75 33.50 40.00 3.00 4.14 Jan : 3.89 42.00 0.75 33.50 40.00 4.00 2.64 Canada Dec : 2.00 9.30 2.30 8.80 11.80 0.20 1.60 Jan : 2.00 9.30 2.30 8.80 11.80 0.20 1.60 China Dec : 35.26 143.00 0.10 103.00 141.00 4.00 33.36 Jan : 35.26 143.00 0.10 103.00 141.00 4.00 33.36 Other Europe Dec : 3.69 19.61 0.31 15.68 19.66 2.13 1.82 Jan : 3.61 19.81 0.32 15.68 19.66 2.28 1.80 FSU-12 Dec : 1.61 12.93 0.50 9.99 11.38 2.13 1.53 Jan : 1.61 12.83 0.50 10.29 11.93 1.13 1.88 Ukraine Dec : 0.92 6.50 0.00 4.20 4.70 2.00 0.72 Jan : 0.92 6.50 0.00 4.50 5.25 1.00 1.17 =============================================================================== 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-442-24 World Rice Supply and Use (Milled Basis) 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total 2/: : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2004/05 World 3/ : 85.39 400.47 26.31 407.72 28.36 78.15 United States : 0.76 7.46 0.42 3.94 3.50 1.21 Total foreign : 84.63 393.01 25.89 403.79 24.86 76.94 Major exporters 4/ : 17.44 128.13 0.32 110.77 19.94 15.18 India : 10.80 83.13 0.00 80.74 4.69 8.50 Pakistan : 0.64 4.92 0.00 2.55 2.80 0.20 Thailand : 1.71 17.36 0.00 9.48 7.27 2.31 Vietnam : 4.30 22.72 0.32 18.00 5.17 4.16 Major importers 5/ : 12.56 60.23 9.25 68.52 0.57 12.94 Brazil : 1.34 9.00 0.55 8.86 0.28 1.75 EU-25 6/ : 0.97 1.87 1.00 2.53 0.18 1.14 Indonesia : 4.02 34.83 0.50 35.85 0.05 3.45 Nigeria : 1.00 2.30 1.37 4.25 0.00 0.42 Philippines : 4.05 9.43 1.50 10.40 0.00 4.57 Sel. Mideast 7/ : 0.99 2.31 3.27 5.05 0.06 1.46 Selected other : Burma : 1.63 9.57 0.00 10.30 0.19 0.71 C. Amer & Carib 8/ : 0.11 0.07 0.42 0.48 0.00 0.13 China : 43.92 125.36 0.61 130.30 0.66 38.93 Egypt : 0.72 4.13 0.00 3.25 1.10 0.50 Japan : 1.70 7.94 0.78 8.30 0.20 1.92 Mexico : 0.18 0.20 0.55 0.75 0.00 0.17 South Korea : 0.85 5.00 0.19 4.86 0.27 0.91 : : 2005/06 (Estimated) World 3/ : 78.15 415.51 26.27 413.21 27.80 80.44 United States : 1.21 7.11 0.54 3.81 3.69 1.37 Total foreign : 76.94 408.40 25.73 409.41 24.11 79.07 Major exporters 4/ : 15.18 136.79 0.40 115.53 18.80 18.04 India : 8.50 91.04 0.00 85.22 3.80 10.52 Pakistan : 0.20 5.55 0.00 2.56 2.90 0.30 Thailand : 2.31 18.20 0.05 9.50 7.30 3.76 Vietnam : 4.16 22.00 0.35 18.25 4.80 3.46 Major importers 5/ : 12.94 59.93 10.67 69.66 0.49 13.40 Brazil : 1.75 7.87 0.60 8.97 0.25 1.00 EU-25 6/ : 1.14 1.73 0.93 2.55 0.18 1.07 Indonesia : 3.45 34.96 0.60 35.80 0.00 3.21 Nigeria : 0.42 2.70 1.78 4.35 0.00 0.55 Philippines : 4.57 9.82 1.90 11.00 0.00 5.29 Sel. Mideast 7/ : 1.46 2.38 3.76 5.39 0.06 2.14 Selected other : Burma : 0.71 10.44 0.00 10.40 0.08 0.67 C. Amer & Carib 8/ : 0.13 0.07 0.45 0.49 0.00 0.15 China : 38.93 126.41 0.70 128.00 1.10 36.95 Egypt : 0.50 4.13 0.00 3.28 1.00 0.36 Japan : 1.92 8.26 0.70 8.25 0.20 2.43 Mexico : 0.17 0.18 0.60 0.78 0.00 0.18 South Korea : 0.91 4.77 0.40 4.85 0.13 1.10 =============================================================================== 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-442-25 World Rice Supply and Use (Milled Basis) 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total 2/: : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2006/07 (Projected) World 3/ : December : 80.42 416.38 26.26 418.19 28.17 78.60 January : 80.44 415.02 27.21 417.74 28.92 77.73 United States : December : 1.37 6.14 0.57 3.91 3.24 0.94 January : 1.37 6.15 0.57 3.91 3.24 0.95 Total foreign : December : 79.05 410.24 25.69 414.29 24.93 77.67 January : 79.07 408.87 26.64 413.83 25.68 76.78 Major exporters 4/ : December : 18.04 137.39 0.40 118.13 20.15 17.55 January : 18.04 137.39 0.40 118.13 20.90 16.80 India Dec : 10.52 91.00 0.00 87.50 4.30 9.72 Jan : 10.52 91.00 0.00 87.50 4.30 9.72 Pakistan Dec : 0.30 5.60 0.00 2.56 2.90 0.44 Jan : 0.30 5.60 0.00 2.56 3.00 0.34 Thailand Dec : 3.76 18.25 0.10 9.57 8.25 4.29 Jan : 3.76 18.25 0.10 9.57 8.70 3.84 Vietnam Dec : 3.46 22.54 0.30 18.50 4.70 3.10 Jan : 3.46 22.54 0.30 18.50 4.90 2.90 Major importers 5/ : December : 13.36 60.16 9.94 70.14 0.33 12.99 January : 13.40 58.79 11.24 70.24 0.33 12.86 Brazil Dec : 0.98 7.70 0.85 8.95 0.13 0.45 Jan : 1.00 7.70 0.85 8.95 0.13 0.47 EU-25 6/ Dec : 1.04 1.66 0.93 2.60 0.15 0.88 Jan : 1.07 1.68 0.93 2.60 0.15 0.92 Indonesia Dec : 3.21 35.09 0.60 35.80 0.00 3.10 Jan : 3.21 33.70 1.80 35.85 0.00 2.86 Nigeria Dec : 0.55 2.80 1.60 4.45 0.00 0.50 Jan : 0.55 2.80 1.60 4.45 0.00 0.50 Philippines Dec : 5.29 10.00 1.75 11.25 0.00 5.79 Jan : 5.29 10.00 1.85 11.30 0.00 5.84 Sel. Mideast 7/Dec : 2.14 2.44 3.10 5.49 0.05 2.14 Jan : 2.14 2.44 3.10 5.49 0.05 2.14 Selected other : Burma Dec : 0.67 10.50 0.00 10.50 0.15 0.52 Jan : 0.67 10.50 0.00 10.50 0.15 0.52 C. Am & Car. 8/Dec : 0.15 0.07 0.45 0.50 0.00 0.17 Jan : 0.15 0.07 0.45 0.50 0.00 0.17 China Dec : 36.95 128.00 0.80 127.80 1.00 36.95 Jan : 36.95 128.00 0.80 127.80 1.00 36.95 Egypt Dec : 0.36 4.14 0.00 3.30 0.90 0.30 Jan : 0.36 4.14 0.00 3.30 0.90 0.30 Japan Dec : 2.43 7.94 0.65 8.20 0.20 2.62 Jan : 2.43 7.94 0.65 8.20 0.20 2.62 Mexico Dec : 0.18 0.18 0.60 0.80 0.00 0.16 Jan : 0.18 0.18 0.60 0.80 0.00 0.16 South Korea Dec : 1.10 4.68 0.27 4.84 0.10 1.10 Jan : 1.10 4.68 0.27 4.84 0.10 1.10 =============================================================================== 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-442-26 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2004/05 : World : 43.03 120.39 33.39 108.82 35.03 -1.12 54.09 United States : 3.45 23.25 0.03 6.69 14.44 0.11 5.50 Total foreign : 39.58 97.14 33.36 102.13 20.59 -1.23 48.60 Major exporters 4/ : 14.80 45.83 1.89 23.50 16.65 -0.19 22.56 Central Asia 5/ : 1.72 8.07 3/ 1.51 5.92 0.00 2.36 Afr. Fr. Zone 6/ : 1.30 5.01 3/ 0.20 4.13 0.00 1.97 S. Hemis. 7/ : 6.55 10.34 0.45 5.26 4.23 -0.20 8.04 Australia : 0.89 3.00 3/ 0.07 2.00 -0.12 1.96 Brazil : 4.63 5.90 0.21 4.20 1.56 -0.10 5.08 India : 4.19 19.00 1.04 14.80 0.66 0.00 8.76 Major importers 8/ : 22.88 47.42 28.72 73.87 2.59 -1.06 23.62 Mexico : 1.14 0.63 1.81 2.10 0.14 0.03 1.32 China : 14.96 29.00 6.39 38.50 0.03 -1.25 13.06 EU-25 9/ : 0.97 2.31 3.08 3.47 1.65 0.06 1.16 Russia : 0.20 3/ 1.45 1.43 0.00 0.00 0.22 Turkey : 1.48 4.15 3.41 7.10 0.15 0.00 1.79 Pakistan : 1.90 11.14 1.76 10.75 0.56 0.03 3.46 Indonesia : 0.37 0.03 2.20 2.15 0.02 0.05 0.38 Thailand : 0.42 0.06 2.28 2.10 0.00 0.03 0.63 Bangladesh : 0.35 0.06 1.85 1.88 0.00 0.01 0.38 : : 2005/06 (Estimated) : World : 54.09 114.14 43.99 115.80 44.70 -2.60 54.33 United States : 5.50 23.89 0.03 5.89 18.04 -0.56 6.05 Total foreign : 48.60 90.25 43.96 109.91 26.66 -2.04 48.28 Major exporters 4/ : 22.56 43.77 1.52 25.09 22.12 -0.09 20.73 Central Asia 5/ : 2.36 8.36 3/ 1.46 7.00 0.00 2.27 Afr. Fr. Zone 6/ : 1.97 4.24 3/ 0.19 4.35 0.00 1.68 S. Hemis. 7/ : 8.04 8.97 0.60 5.16 5.57 -0.10 6.99 Australia : 1.96 2.80 3/ 0.06 2.88 -0.12 1.94 Brazil : 5.08 4.70 0.31 4.05 1.97 0.00 4.07 India : 8.76 19.20 0.40 16.50 3.50 0.00 8.36 Major importers 8/ : 23.62 42.93 40.09 80.39 2.86 -1.96 25.35 Mexico : 1.32 0.64 1.74 2.10 0.25 0.03 1.32 China : 13.06 26.20 19.28 45.00 0.04 -2.15 15.66 EU-25 9/ : 1.16 2.49 2.30 2.70 2.00 0.06 1.19 Russia : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey : 1.79 3.55 3.38 6.90 0.13 0.00 1.70 Pakistan : 3.46 9.85 1.66 11.75 0.32 0.03 2.87 Indonesia : 0.38 0.03 2.20 2.18 0.02 0.05 0.37 Thailand : 0.63 0.05 1.89 2.05 0.01 0.03 0.50 Bangladesh : 0.38 0.07 2.21 2.20 0.00 0.01 0.46 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, China, and the United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Paraguay, South Africa, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, South Korea, Taiwan, and Vietnam. 9/ Includes intra-EU trade. WASDE-442-27 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2006/07 (Projected) World : December : 54.23 115.86 41.69 121.00 41.20 -1.92 51.49 January : 54.33 116.72 40.83 121.17 40.33 -1.89 52.26 United States : December : 6.05 21.30 0.03 5.10 16.00 -0.02 6.30 January : 6.05 21.73 0.03 5.00 15.70 0.00 7.10 Total foreign : December : 48.18 94.56 41.66 115.90 25.20 -1.90 45.19 January : 48.28 94.99 40.80 116.17 24.63 -1.89 45.16 Major exporters 4/ : December : 20.43 44.52 1.88 26.37 21.36 -0.09 19.19 January : 20.73 44.87 1.98 26.59 20.93 -0.09 20.15 Central Asia 5/Dec : 2.27 8.17 3/ 1.40 6.82 0.00 2.22 Jan : 2.27 8.21 3/ 1.40 6.79 0.00 2.29 Afr. Fr. Zn. 6/Dec : 1.68 4.44 3/ 0.18 4.44 0.00 1.49 Jan : 1.68 4.49 3/ 0.18 4.44 0.00 1.54 S. Hemis 7/ Dec : 6.88 8.54 0.73 5.19 4.60 -0.10 6.46 Jan : 6.99 8.97 0.83 5.22 4.50 -0.10 7.18 Australia Dec : 1.94 1.30 3/ 0.06 2.30 -0.12 1.01 Jan : 1.94 1.30 3/ 0.06 2.25 -0.12 1.06 Brazil Dec : 4.07 5.50 0.50 4.05 1.48 0.00 4.54 Jan : 4.07 6.00 0.50 4.05 1.50 0.00 5.02 India Dec : 8.16 21.00 0.60 17.80 4.10 0.00 7.86 Jan : 8.36 21.00 0.60 18.00 4.00 0.00 7.96 Major importers 8/ : December : 25.56 46.69 37.52 85.30 2.28 -1.81 24.01 January : 25.35 46.78 36.52 85.31 2.16 -1.81 22.98 Mexico Dec : 1.32 0.64 1.40 2.00 0.25 0.03 1.08 Jan : 1.32 0.64 1.45 2.05 0.25 0.03 1.08 China Dec : 15.66 30.50 17.25 50.00 0.05 -2.00 15.36 Jan : 15.66 30.75 16.00 50.00 0.05 -2.00 14.36 EU-25 9/ Dec : 1.18 1.70 2.06 2.40 1.56 0.06 0.93 Jan : 1.19 1.59 2.02 2.38 1.44 0.06 0.92 Russia Dec : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Jan : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey Dec : 1.69 4.15 2.55 6.70 0.15 0.00 1.54 Jan : 1.70 4.00 2.80 6.70 0.15 0.00 1.65 Pakistan Dec : 3.10 9.50 2.30 12.20 0.15 0.03 2.52 Jan : 2.87 9.60 2.30 12.20 0.15 0.03 2.40 Indonesia Dec : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Jan : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Thailand Dec : 0.50 0.05 2.05 2.10 0.00 0.03 0.47 Jan : 0.50 0.05 2.05 2.10 0.00 0.03 0.47 Bangladesh Dec : 0.46 0.07 2.30 2.30 0.00 0.01 0.53 Jan : 0.46 0.07 2.30 2.30 0.00 0.01 0.52 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, and the United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Paraguay, South Africa, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, South Korea, Taiwan, and Vietnam. 9/ Includes intra-EU trade. WASDE-442-28 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 2004/05 World 2/ : 38.56 215.95 63.60 175.75 205.39 64.54 48.18 United States : 3.06 85.01 0.15 46.16 51.40 29.86 6.96 Total foreign : 35.50 130.94 63.45 129.59 153.99 34.68 41.22 Major exporters 3/ : 30.99 96.05 1.20 57.54 62.04 32.34 33.87 Argentina : 15.40 39.00 0.69 27.31 28.75 9.31 17.03 Brazil : 15.51 53.00 0.48 29.25 32.10 20.14 16.75 Major importers 4/ : 3.62 19.55 51.96 53.34 68.56 0.42 6.15 China : 2.10 17.40 25.80 30.36 40.21 0.39 4.70 EU-25 : 0.90 0.79 14.64 14.00 15.43 0.01 0.88 Japan : 0.30 0.17 4.30 3.15 4.50 0.00 0.26 Mexico : 0.04 0.13 3.64 3.73 3.76 0.00 0.05 : : 2005/06 (Estimated) World 2/ : 48.18 218.04 64.14 184.00 213.69 64.43 52.24 United States : 6.96 83.37 0.09 47.32 52.41 25.78 12.23 Total foreign : 41.22 134.67 64.05 136.68 161.28 38.65 40.01 Major exporters 3/ : 33.87 99.50 0.71 61.09 65.52 35.76 32.80 Argentina : 17.03 40.50 0.58 31.89 33.41 7.26 17.44 Brazil : 16.75 55.00 0.08 28.05 30.66 25.90 15.27 Major importers 4/ : 6.15 18.65 53.14 56.16 71.62 0.38 5.93 China : 4.70 16.35 28.32 34.50 44.54 0.35 4.47 EU-25 : 0.88 0.86 13.80 13.18 14.59 0.01 0.94 Japan : 0.26 0.23 3.96 2.82 4.19 0.00 0.25 Mexico : 0.05 0.15 3.65 3.77 3.80 0.00 0.04 : : 2006/07 (Projected) World 2/ : December : 52.22 226.77 70.03 193.10 222.58 70.73 55.72 January : 52.24 226.85 69.93 193.20 222.67 70.20 56.15 United States : December : 12.21 87.20 0.11 48.44 52.97 31.16 15.38 January : 12.23 86.77 0.11 48.44 52.97 30.48 15.66 Total foreign : December : 40.01 139.58 69.92 144.66 169.61 39.57 40.33 January : 40.01 140.08 69.82 144.75 169.71 39.72 40.48 Major exporters 3/ : December : 32.80 102.70 1.04 62.90 67.03 36.25 33.25 January : 32.80 103.20 1.04 63.10 67.23 36.40 33.40 Argentina Dec : 17.44 42.00 0.93 33.80 35.37 7.20 17.80 Jan : 17.44 42.50 0.93 34.00 35.57 7.35 17.95 Brazil Dec : 15.27 56.00 0.10 27.90 30.26 25.75 15.37 Jan : 15.27 56.00 0.10 27.90 30.26 25.75 15.37 Major importers 4/ : December : 5.93 18.55 57.54 60.11 75.95 0.39 5.68 January : 5.93 18.55 57.54 60.11 75.95 0.39 5.68 China Dec : 4.47 16.20 32.00 37.75 48.10 0.35 4.22 Jan : 4.47 16.20 32.00 37.75 48.10 0.35 4.22 EU-25 Dec : 0.94 0.92 14.14 13.67 15.05 0.01 0.93 Jan : 0.94 0.92 14.14 13.67 15.05 0.01 0.93 Japan Dec : 0.25 0.20 4.05 2.88 4.24 0.00 0.26 Jan : 0.25 0.20 4.05 2.88 4.24 0.00 0.26 Mexico Dec : 0.04 0.16 3.76 3.88 3.92 0.00 0.04 Jan : 0.04 0.16 3.76 3.88 3.92 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-442-29 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2004/05 World 2/ : 4.81 138.74 46.45 137.33 46.85 5.82 United States : 0.19 36.94 0.13 30.45 6.66 0.16 Total foreign : 4.62 101.80 46.32 106.89 40.19 5.66 Major exporters 3/ : 2.44 48.19 0.25 10.68 36.75 3.45 Argentina : 0.61 21.53 0.00 0.50 20.65 1.00 Brazil : 1.80 22.66 0.25 8.88 14.26 1.58 India : 0.04 4.01 0.00 1.31 1.85 0.88 Major importers 4/ : 1.19 36.85 27.51 63.11 1.23 1.20 EU-25 : 0.85 11.01 21.72 32.19 0.55 0.85 China : 0.00 24.03 0.07 23.44 0.66 0.00 : : 2005/06 (Estimated) World 2/ : 5.82 144.70 50.97 145.59 51.46 4.44 United States : 0.16 37.41 0.13 30.10 7.32 0.29 Total foreign : 5.66 107.29 50.84 115.49 44.14 4.16 Major exporters 3/ : 3.45 51.00 0.19 11.58 40.91 2.16 Argentina : 1.00 25.02 0.00 0.58 24.34 1.10 Brazil : 1.58 21.66 0.19 9.60 12.90 0.94 India : 0.88 4.33 0.00 1.41 3.68 0.12 Major importers 4/ : 1.20 39.37 30.02 68.47 1.03 1.09 EU-25 : 0.85 10.37 22.90 32.61 0.65 0.86 China : 0.00 27.30 0.84 27.78 0.36 0.00 : : 2006/07 (Projected) World 2/ : December : 4.44 152.10 52.52 152.44 52.75 3.88 January : 4.44 152.42 52.52 152.23 53.08 4.07 United States : December : 0.29 38.48 0.15 30.94 7.71 0.27 January : 0.29 38.48 0.15 30.75 7.89 0.27 Total foreign : December : 4.16 113.62 52.37 121.50 45.03 3.60 January : 4.16 113.94 52.37 121.48 45.18 3.80 Major exporters 3/ : December : 2.16 53.20 0.28 12.17 41.70 1.77 January : 2.16 53.52 0.28 12.14 41.85 1.96 Argentina Dec : 1.10 26.33 0.00 0.65 25.90 0.88 Jan : 1.10 26.65 0.00 0.63 26.05 1.08 Brazil Dec : 0.94 21.83 0.28 10.00 12.20 0.84 Jan : 0.94 21.83 0.28 10.00 12.20 0.84 India Dec : 0.12 5.04 0.00 1.52 3.60 0.05 Jan : 0.12 5.04 0.00 1.52 3.60 0.05 Major importers 4/ : December : 1.09 42.39 30.20 71.61 1.08 1.00 January : 1.09 42.39 30.20 71.61 1.08 1.00 EU-25 Dec : 0.86 10.76 22.68 32.74 0.70 0.86 Jan : 0.86 10.76 22.68 32.74 0.70 0.86 China Dec : 0.00 29.87 0.90 30.42 0.35 0.00 Jan : 0.00 29.87 0.90 30.42 0.35 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-442-30 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2004/05 World 2/ : 2.64 32.50 8.96 31.75 9.23 3.12 United States : 0.49 8.78 0.01 7.91 0.60 0.77 Total foreign : 2.15 23.72 8.94 23.84 8.63 2.35 Major exporters 3/ : 1.41 13.24 0.18 5.64 7.68 1.51 Argentina : 0.86 5.09 0.00 0.41 4.75 0.79 Brazil : 0.37 5.65 0.00 3.09 2.41 0.52 EU-25 : 0.18 2.51 0.18 2.15 0.51 0.20 Major importers 4/ : 0.44 6.32 3.83 9.91 0.05 0.63 China : 0.34 5.42 1.74 7.21 0.04 0.25 India : 0.10 0.90 2.02 2.63 0.01 0.38 Pakistan : 0.01 0.00 0.06 0.06 0.00 0.01 : : 2005/06 (Estimated) World 2/ : 3.12 34.31 8.84 33.40 9.30 3.57 United States : 0.77 9.25 0.02 8.15 0.52 1.37 Total foreign : 2.35 25.06 8.83 25.25 8.78 2.21 Major exporters 3/ : 1.51 13.75 0.73 6.45 7.91 1.64 Argentina : 0.79 6.00 0.00 0.43 5.60 0.77 Brazil : 0.52 5.39 0.02 3.20 2.06 0.68 EU-25 : 0.20 2.36 0.71 2.82 0.26 0.19 Major importers 4/ : 0.63 7.13 3.22 10.53 0.11 0.34 China : 0.25 6.15 1.52 7.61 0.11 0.20 India : 0.38 0.97 1.68 2.88 0.01 0.14 Pakistan : 0.01 0.01 0.03 0.04 0.00 0.00 : : 2006/07 (Projected) World 2/ : December : 3.57 35.66 9.56 35.70 9.89 3.19 January : 3.57 35.67 9.60 35.66 9.90 3.28 United States : December : 1.37 9.17 0.03 8.71 0.61 1.24 January : 1.37 9.15 0.03 8.66 0.66 1.22 Total foreign : December : 2.20 26.49 9.53 26.99 9.28 1.95 January : 2.21 26.52 9.58 27.00 9.25 2.06 Major exporters 3/ : December : 1.64 14.19 0.93 7.03 8.30 1.44 January : 1.64 14.22 0.96 7.01 8.27 1.53 Argentina Dec : 0.77 6.38 0.00 0.61 5.90 0.63 Jan : 0.77 6.40 0.00 0.57 5.87 0.73 Brazil Dec : 0.68 5.37 0.01 3.30 2.15 0.60 Jan : 0.68 5.37 0.01 3.30 2.15 0.60 EU-25 Dec : 0.20 2.45 0.93 3.11 0.25 0.21 Jan : 0.19 2.45 0.95 3.14 0.25 0.20 Major importers 4/ : December : 0.34 7.89 3.55 11.41 0.08 0.29 January : 0.34 7.89 3.60 11.46 0.08 0.29 China Dec : 0.20 6.74 1.70 8.34 0.08 0.22 Jan : 0.20 6.74 1.70 8.34 0.08 0.22 India Dec : 0.14 1.14 1.80 3.00 0.01 0.07 Jan : 0.14 1.14 1.85 3.05 0.01 0.07 Pakistan Dec : 0.00 0.01 0.05 0.06 0.00 0.00 Jan : 0.00 0.01 0.05 0.06 0.00 0.00 =============================================================================== 1/ Data based on local marketing years except for Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil and EU. 4/ India, China and Pakistan. WASDE-442-31 U.S. Quarterly Animal Product Production 1/ =============================================================================== Year : : : Red : : : Total : Red : : : and : : : meat : : :poultry :meat & : : : quarter : Beef : Pork : 2/ :Broiler:Turkey: 3/ :poultry: Egg : Milk : =============================================================================== : Million pounds Mil doz Bil lbs 2005 : Annual : 24683 20685 45711 35365 5504 41386 87097 7504 177.0 : 2006 : I : 6078 5321 11486 8937 1354 10416 21902 1878 45.6 II : 6699 4998 11782 9129 1440 10701 22483 1880 46.9 III : 6808 5071 11960 8883 1419 10427 22387 1891 44.7 IV : 6490 5620 12198 8850 1475 10450 22648 1920 44.5 Annual : Dec Proj : 26035 21065 47444 35849 5668 42024 89468 7569 181.9 Jan Est : 26075 21010 47426 35799 5688 41994 89420 7569 181.7 : 2007 : I*: 6375 5375 11838 8875 1410 10410 22248 1885 46.0 II*: 6800 5200 12083 9115 1460 10705 22788 1900 47.2 III*: 7000 5325 12406 9125 1440 10695 23101 1920 44.9 IV*: 6525 5750 12360 9075 1470 10680 23040 1945 44.8 Annual : Dec Proj : 26700 21850 48891 36215 5760 42495 91386 7650 183.0 Jan Proj : 26700 21650 48687 36190 5780 42490 91177 7650 183.0 =============================================================================== * 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 2005 : Annual : 87.28 50.05 70.8 73.4 65.5 15.14 : 2006 : I : 89.24 42.63 62.7 67.3 71.4 13.53 II : 80.39 48.45 61.0 71.3 62.7 12.00 III : 85.40 51.83 67.8 79.4 64.0 12.23 IV : 86.61 46.13 65.9 89.8 85.7 13.87 Annual : Dec Proj : 85.38 47.35 64.3 78.4 71.4 12.85-12.95 Jan Est : 85.41 47.26 64.4 77.0 71.0 12.91 : 2007 : I*: 84-88 42-44 67-69 70-72 78-82 13.95-14.35 II*: 83-89 41-45 66-70 70-76 74-80 13.10-13.80 III*: 81-87 42-46 67-73 73-79 77-83 13.35-14.35 IV*: 82-88 40-44 66-72 77-83 84-90 14.05-15.05 Annual : Dec Proj : 82-88 40-43 65-70 72-78 78-84 13.70-14.50 Jan Proj : 82-88 42-44 66-71 72-78 78-84 13.60-14.40 =============================================================================== *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-442-32 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 : 2005 : 637 24784 3599 29020 698 571 27751 65.5 2006 Est. Dec : 571 26137 3038 29746 1150 625 27971 65.4 Jan : 571 26177 3073 29821 1150 625 28046 65.6 2007 Proj. Dec : 625 26802 3280 30707 1440 600 28667 66.4 Jan : 625 26802 3280 30707 1440 600 28667 66.4 : PORK : 2005 : 543 20706 1025 22274 2665 494 19115 50.0 2006 Est. Dec : 494 21085 1005 22584 2971 550 19063 49.4 Jan : 494 21030 1005 22529 2991 550 18988 49.2 2007 Proj. Dec : 550 21870 1010 23430 3090 550 19790 50.8 Jan : 550 21670 1010 23230 3150 550 19530 50.2 : TOTAL RED MEAT 5/ : 2005 : 1187 45846 4804 51837 3372 1080 47385 117.0 2006 Est. Dec : 1080 47579 4229 52888 4141 1204 47543 116.3 Jan : 1080 47561 4271 52912 4159 1204 47549 116.3 2007 Proj. Dec : 1204 49026 4474 54704 4542 1179 48983 118.8 Jan : 1204 48822 4479 54505 4606 1179 48720 118.1 : BROILERS : 2005 : 713 34986 34 35733 5203 924 29607 85.7 2006 Est. Dec : 924 35465 41 36430 5225 700 30505 87.5 Jan : 924 35416 45 36385 5260 675 30450 87.4 2007 Proj. Dec : 700 35827 36 36563 5405 750 30408 86.5 Jan : 675 35803 48 36526 5405 750 30371 86.4 : TURKEYS : 2005 : 288 5432 8 5728 570 206 4952 16.7 2006 Est. Dec : 206 5594 9 5809 546 225 5038 16.8 Jan : 206 5613 12 5832 546 225 5060 16.9 2007 Proj. Dec : 225 5685 4 5914 585 280 5049 16.7 Jan : 225 5704 12 5941 585 280 5076 16.8 : TOTAL POULTRY 6/ : 2005 : 1005 40935 42 41981 5902 1132 34947 103.7 2006 Est. Dec : 1132 41566 52 42750 5911 937 35902 105.6 Jan : 1132 41536 60 42728 5966 912 35850 105.4 2007 Proj. Dec : 937 42032 42 43011 6120 1041 35850 104.5 Jan : 912 42027 63 43001 6120 1041 35840 104.5 : RED MEAT & POULTRY: 2005 : 2192 86781 4846 93819 9274 2212 82333 220.7 2006 Est. Dec : 2212 89144 4281 95638 10052 2141 83445 221.8 Jan : 2212 89097 4331 95640 10125 2116 83398 221.7 2007 Proj. Dec : 2141 91058 4516 97715 10662 2220 84833 223.3 Jan : 2116 90849 4542 97506 10726 2220 84560 222.6 ============================================================================ 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-442-33 U.S. Egg Supply and Use =============================================================================== : : : 2006 Estimated : 2007 Projected : : :-----------------:----------------- Commodity : 2004 : 2005 : Dec : Jan : Dec : Jan =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 13.7 14.5 16.0 16.0 16.0 13.0 Production : 7440.0 7503.6 7569.0 7569.0 7650.0 7650.0 Imports : 12.7 9.0 7.6 7.3 8.8 8.0 Total supply : 7466.4 7527.1 7592.6 7592.3 7674.8 7671.0 : Use : Exports : 167.5 203.3 191.5 201.5 195.0 203.0 Hatching use : 988.1 999.8 992.5 990.5 980.0 980.0 Ending stocks : 14.5 16.0 16.0 13.0 16.0 16.0 Consumption : Total : 6296.3 6308.0 6392.6 6387.3 6483.8 6472.0 Per capita (number) : 257.1 255.2 256.2 256.0 257.5 257.1 =============================================================================== U.S. Milk Supply and Use =============================================================================== : : : 2006 Estimated : 2007 Projected Commodity : : :-----------------:----------------- : 2004 : 2005 : Dec : Jan : Dec : Jan =============================================================================== : Billion pounds Milk : Production : 170.9 177.0 181.9 181.7 183.0 183.0 Farm use : 1.1 1.1 1.1 1.1 1.0 1.0 : Fat Basis Supply : Beg. commercial stocks : 8.3 7.2 8.0 8.0 9.4 9.3 Marketings : 169.8 175.9 180.8 180.7 182.0 181.9 Imports : 5.3 5.0 4.6 4.8 4.9 5.0 Total cml. supply : 183.4 188.0 193.4 193.5 196.3 196.3 : Fat Basis Use : Ending commercial stks : 7.2 8.0 9.4 9.3 7.9 8.2 CCC net removals 1/ : -0.1 -0.0 0.0 0.0 0.0 0.0 Commercial use 2/ : 176.4 180.1 184.0 184.2 188.4 188.1 : Skim-solids Basis Supply : Beg. commercial stocks : 8.5 8.2 9.0 9.0 8.7 8.9 Marketings : 169.8 175.9 180.8 180.7 182.0 181.9 Imports : 4.8 4.8 4.5 4.6 5.1 5.2 Total cml. supply : 183.1 188.9 194.3 194.3 195.8 196.0 : Skim-solids Basis Use : Ending commercial stks : 8.2 9.0 8.7 8.9 8.6 8.8 CCC net removals 1/ : 1.3 -1.0 0.7 0.7 0.0 0.0 Commercial use 2/ : 173.7 180.9 184.8 184.6 187.2 187.2 : : Million pounds CCC product net removals 1/: Butter : -7 0 0 0 0 0 Cheese : 6 -2 0 0 0 0 Nonfat dry milk : 105 -81 64 64 0 0 Dry whole milk : 0 0 0 0 0 0 =============================================================================== Note: Totals may not add due to rounding. 1/ Includes products exported under the Dairy Export Incentive Program. 2/ Includes commercial exports. WASDE-442-34 U.S. Dairy Prices =============================================================================== : : : 2006 Estimated : 2007 Projected : : :-----------------:------------------ Commodity : 2004 : 2005 : Dec : Jan : Dec : Jan =============================================================================== : Dollars per pound : Product Prices 1/ : Cheese : 1.6431 1.4875 1.240- 1.2470 1.315- 1.310- : 1.250 1.395 1.390 : Butter : 1.8239 1.5405 1.205- 1.2193 1.250- 1.235- : 1.235 1.360 1.345 : Nonfat dry milk : 0.8405 0.9409 0.875- 0.8874 0.905- 0.930- : 0.895 0.965 0.990 : Dry whey : 0.2319 0.2782 0.325- 0.3285 0.345- 0.355- : 0.335 0.375 0.385 : : Dollars per cwt Milk Prices 2/ : Class III : 15.39 14.05 11.85- 11.89 12.75- 12.50- : 11.95 13.55 13.30 : Class IV : 13.20 12.87 10.95- 11.06 11.40- 11.35- : 11.15 12.30 12.25 : All milk 3/ : 16.05 15.14 12.85- 12.91 13.70- 13.60- : 12.95 14.50 14.40 : =============================================================================== 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-442-35 Note: Tables on pages 35-37 present a 25-year record of the differences between the January projection and the final estimate. Using world wheat production as an example, changes between the January projection and the final estimate have averaged 3.1 million tons (0.6%) ranging from -8.3 to 6.4 million tons. The January projection has been below the estimate 17 times and above 8 times. Reliability of January Projections =============================================================================== :Differences between proj. & final estimate,1981/82-2005/06 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== WHEAT :Percent Million metric tons Number of years 2/ Production : World : 0.6 3.1 -8.3 6.4 17 8 U.S. : 0.1 0.1 -0.2 0.1 11 6 Foreign : 0.7 3.1 -8.3 6.4 17 8 Exports : World : 3.3 3.7 -14.0 5.2 17 8 U.S. : 4.1 1.3 -3.9 2.7 13 12 Foreign : 4.5 3.6 -12.6 5.6 19 6 Domestic use : World : 0.9 4.8 -14.3 11.0 15 10 U.S. : 3.9 1.2 -2.6 3.0 9 16 Foreign : 0.9 4.7 -14.8 8.6 16 9 Ending stocks : World : 4.0 5.0 -11.5 8.1 17 8 U.S. : 8.1 1.7 -4.6 3.3 15 10 Foreign : 4.2 4.2 -10.3 9.8 17 8 : COARSE GRAINS 3/ : Production : World : 1.0 8.5 -20.7 8.2 16 9 U.S. : 0.2 0.4 -4.6 1.3 12 6 Foreign : 1.4 8.2 -20.7 8.2 16 9 Exports : World : 4.1 4.3 -10.8 13.3 17 8 U.S. : 9.2 4.7 -11.1 12.4 12 13 Foreign : 8.2 4.3 -14.0 8.0 14 11 Domestic use : World : 1.0 8.4 -16.4 29.0 13 12 U.S. : 2.3 4.3 -18.8 11.5 13 12 Foreign : 1.1 7.0 -12.5 22.8 17 8 Ending stocks : World : 7.6 10.8 -31.8 17.6 19 6 U.S. : 10.0 5.7 -24.3 20.8 14 10 Foreign : 10.6 8.6 -29.6 10.8 20 5 : RICE, milled : Production : World : 1.4 4.8 -13.9 1.9 20 4 U.S. : 1.2 0.1 -0.3 0.2 10 4 Foreign : 1.4 4.8 -13.9 2.0 21 4 Exports : World : 7.4 1.4 -5.4 1.0 20 5 U.S. : 6.2 0.2 -0.6 0.2 14 9 Foreign : 8.4 1.4 -5.2 1.0 18 7 Domestic use : World : 1.1 3.6 -12.3 1.9 19 6 U.S. : 5.8 0.2 -0.4 0.5 11 14 Foreign : 1.1 3.6 -12.4 2.2 20 5 Ending stocks : World : 7.4 3.5 -14.5 3.9 20 5 U.S. : 17.3 0.2 -0.5 0.6 12 12 Foreign : 7.7 3.5 -13.9 3.8 20 5 =============================================================================== 1/ Footnotes at end of table. CONTINUED WASDE-442-36 Reliability of January Projections (Continued) =============================================================================== :Differences between proj. & final estimate,1981/82-2005/06 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== SOYBEANS 4/ :Percent Million metric tons Number of years 2/ Production : World : 2.3 3.4 -6.2 17.4 15 10 U.S. : 1.1 0.6 -1.6 1.8 10 12 Foreign : 4.3 3.4 -6.5 17.0 16 9 Exports : World : 5.3 2.2 -7.9 12.2 15 10 U.S. : 6.1 1.3 -3.1 4.3 14 11 Foreign : 15.5 2.2 -7.2 11.8 12 13 Domestic use : World : 2.3 3.0 -5.7 11.1 15 10 U.S. : 2.6 1.1 -3.6 2.0 17 8 Foreign : 3.0 2.8 -5.3 12.7 15 10 Ending stocks : World : 11.8 2.9 -6.9 18.7 14 11 U.S. : 22.8 1.7 -2.6 4.9 5 20 Foreign : 16.0 2.8 -7.5 13.8 17 8 : COTTON : Million 480-pound bales Production : World : 2.0 1.8 -5.4 3.6 17 7 U.S. : 0.6 0.1 -0.2 0.3 10 14 Foreign : 2.4 1.8 -5.7 3.5 18 6 Exports : World : 3.9 1.1 -3.9 1.0 14 11 U.S. : 8.0 0.6 -1.7 0.8 16 9 Foreign : 4.5 0.9 -3.4 1.0 14 11 Mill use : World : 2.0 1.7 -6.3 1.8 14 11 U.S. : 3.8 0.3 -0.9 0.9 16 8 Foreign : 2.1 1.6 -5.8 2.0 15 10 Ending stocks : World : 8.3 2.9 -6.1 8.1 15 10 U.S. : 16.8 0.8 -1.9 2.2 6 19 Foreign : 8.9 2.9 -6.3 7.6 16 9 =============================================================================== 1/ Final estimate for 1981/82-2005/06 is defined as the first November estimate following the marketing year. 2/ May not total 25 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. 4/ Global soybean supply and use projections were initially released in June 2004. Therefore, an insufficient number of observations are available to provide meaningful reliability statistics for global soybean supply and use. WASDE-442-37 Reliability of United States January Projections 1/ =============================================================================== :Differences between proj. & final estimate,1981/82-2005/06 2/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== CORN :Percent Million bushels Number of years 3/ Production : 0.2 14 -148 38 4 1 Exports : 9.5 168 -379 384 11 14 Domestic use : 2.5 152 -574 345 13 12 Ending stocks : 11.8 228 -986 838 15 10 : SORGHUM : Production : 0.3 3 -53 14 1 3 Exports : 13.2 31 -90 97 16 8 Domestic use : 9.7 41 -148 127 11 14 Ending stocks : 29.9 29 -78 98 10 15 : BARLEY : Production : 0.3 1 -3 11 11 4 Exports : 16.4 10 -37 23 9 14 Domestic use : 5.1 19 -43 70 10 13 Ending stocks : 8.1 12 -52 18 17 8 : OATS : Production : 0.1 0 -2 1 4 3 Exports : 41.0 1 -1 7 5 7 Domestic use : 3.2 12 -39 36 15 10 Ending stocks : 10.9 13 -47 34 13 12 : : Thousand short tons SOYBEAN MEAL : Production : 2.5 793 -2728 915 17 8 Exports : 8.7 602 -2050 1050 16 9 Domestic use : 2.2 570 -1256 1017 14 11 Ending stocks : 30.0 73 -214 188 10 14 : : Million pounds SOYBEAN OIL : Production : 2.5 373 -1418 575 18 7 Exports : 16.4 245 -800 839 11 12 Domestic use : 2.2 290 -885 400 18 7 Ending stocks : 15.8 245 -583 538 15 10 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 3.4 840 -1342 2311 16 7 Pork : 2.7 451 -1240 1717 15 8 Broilers : 1.5 346 -937 512 16 7 Turkeys : 2.0 90 -226 181 13 10 : : Million dozen Eggs : 1.3 79 -127 178 14 9 : : Billion pounds Milk : 1.4 2.1 -5.7 5.7 11 12 =============================================================================== 1/ See pages 35 and 36 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-2005/06 is defined as the first November estimate following the marketing year. 3/ May not total 25 for crops and 23 for animal production if projection was the same as the final estimate. 4/ Calendar years 1983 thru 2005 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS. --------- End of File ----------------