ISSN:1554-9089 WASDE-456 March 11, 2008 WHEAT: Projected U.S. wheat ending stocks for 2007/08 are lowered 30 million bushels this month on higher projected food use and exports. Food use is raised 5 million bushels based on the latest mill grind data from the U.S. Bureau of Census. Hard red spring wheat food use is increased on indications that discounts for spring wheat relative to winter during the first half of the marketing year encouraged heavier use. Exports are raised 25 million bushels based on the pace of export sales and shipments and on continued export restrictions by major competitor countries. Despite record prices, export commitments for U.S. wheat continue to accumulate raising prospects for higher exports of hard red winter, hard red spring, and durum wheat than projected last month. Ending stocks are projected at 242 million bushels with stocks-to-use dropping to 10 percent, the lowest since 1946/47. The projected range for the season-average farm price is narrowed 5 cents on each end to $6.50 to $6.80 per bushel. Global 2007/08 wheat production is raised 1.4 million tons this month mostly on increases for Brazil and India, up 0.4 million and 0.9 million tons, respectively, and in line with government estimates. Also raised slightly is output for Australia and EU-27 based on the latest revisions to government estimates. Partly offsetting is a reduction for Saudi Arabia based on lower-than-expected area. World imports, exports, and ending stocks for 2007/08 are all projected slightly higher this month with the increase in production. Global exports are raised 0.5 million tons reflecting higher exports by the United States and Brazil. Partly offsetting is a 0.5-million-ton reduction for Argentina on further export delays caused by changes in export licensing procedures. World wheat feeding is raised 0.1 million tons with an increase for Australia reflecting higher production. Global ending stocks are raised 0.7 million tons, but remain at a 30-year low. Lower ending stocks in the United States and Saudi Arabia are more than offset by increases for Argentina, Brazil, EU-27, and India. COARSE GRAINS: U.S. balance sheets for corn and sorghum are unchanged this month with supply and use changes for barley and oats driven by updated forecasts for marketing year trade. Barley exports are projected 5 million bushels lower based on the pace of exports and sales. Feed and residual use is raised 5 million bushels leaving barley ending stocks unchanged. Oats imports are projected 10 million bushels higher reflecting a stronger-than-expected pace of imports to date. Feed and residual use for oats is raised 5 million bushels reflecting the increase in expected supplies. Ending stocks for oats are raised 5 million bushels. The projected season-average farm prices for corn and sorghum are unchanged this month at $3.75 to $4.25 per bushel and $3.65 to $4.15 per bushel, respectively. The barley season-average price is projected at $3.95 to $4.15 per bushel, narrowed and lowered from $3.85 to $4.35 per bushel last month based on prices received by farmers to date. The projected oats farm price range is narrowed 15 cents on each end to $2.40 to $2.60 per bushel. World coarse grain supplies for 2007/08 are projected higher this month. Global coarse grain production is raised 4.3 million tons with a 3.9-million-ton increase for corn and a 0.4-million-ton increase for barley. Brazil corn production is raised 3 million tons on higher summer crop yields and larger winter crop area. Adequate rainfall and little heat stress during the summer crop's growing season pushed yields above trend. For the winter crop, a timely dry out in February and higher prices boosted plantings. A return to more normal rainfall patterns since planting has supported early crop development. India corn production is also raised 0.5 million tons on official government estimates as favorable weather raised yields, more than offsetting a reduction in harvested area. Corn production is raised 0.4 million tons for the Philippines, in line with government statistics. Sorghum production for Australia is raised 0.3 million tons as abundant soil moisture supports improved yield prospects for what is expected to be a record crop. Sorghum production for India is reduced an offsetting 0.3 million tons based on government estimates of lower area. Barley production is raised for China and Australia. Global coarse grains imports and exports for 2007/08 are raised slightly this month. Global corn imports are raised 0.4 million tons. Increases of 0.5 million tons each for Egypt and EU-27 are partly offset by a reduction of 0.5 million tons for Mexico. Corn import changes also include a number of smaller, mostly offsetting changes. Global corn exports are raised 0.3 million tons mostly reflecting an increase of 0.2 million tons for India as a 0.5-million-ton reduction for China is offset by a 0.5-million-ton increase for Brazil. Sorghum imports for EU-27 are raised 0.4 million tons. Sorghum exports are raised 0.4 million tons with increases for Australia, Brazil, and China. Global coarse grain consumption is raised 0.8 million tons with increases for sorghum and barley feeding more than offsetting a small reduction for corn feeding. Higher sorghum feeding in the EU-27 and higher barley feeding in Australia and the United States account for most of the feeding increase. Among the larger feed changes this month are increases for EU- 27 corn and sorghum and an increase for Egypt corn. The largest feeding reductions are for corn in India and Mexico. Global corn ending stocks for 2007/08 are projected 2.1 million tons higher with most of the increase in Brazil. RICE: No changes are made on the supply side of the U.S. 2007/08 rice supply and use balance. However, all rice exports for 2007/08 are raised 1 million cwt to 112 million cwt. Rough and combined milled-and- brown exports (on a rough-equivalent basis) are each raised 0.5 million cwt from a month ago. Combined medium- and short-grain exports are raised 1 million cwt to 26 million cwt, while long-grain exports are unchanged at 86 million cwt. No change is made to 2007/08 domestic and residual use. All rice ending stocks are projected at 21.6 million cwt, 1 million cwt below last month, the lowest stocks since 1974/75. The season-average farm price is projected at $11.85 to $12.15 per cwt, up 55 cents per cwt on both ends of the range from a month ago and the highest price since 1980/81 ($12.80 per cwt). Tight domestic supplies, higher global prices, and a weaker dollar have contributed to the increase. Global 2007/08 rice production and stocks are increased from last month while consumption is lowered. The increase in world production is due mostly to an increase in India (2.0 million tons) and the Philippines (0.4 million). World rice ending stocks for 2007/08 are projected at 75.2 million tons, up 3.1 million tons from last month, and up 0.4 million from 2006/07. Global ending stocks are raised mostly due to increases in China, India, and the Philippines. China's ending stocks are raised based on information from the U.S. Agricultural Counselor in Beijing indicating that per capita consumption has been declining, particularly in the urban centers due to higher incomes. China's consumption for 2007/08 is lowered 2.1 million tons to 127 million tons. OILSEEDS: Projected U.S. soybean ending stocks for 2007/08 are reduced 20 million bushels to 140 million this month, the lowest since 2003/04. Soybean exports are raised 20 million bushels to 1,025 million reflecting strong sales, especially to China, and reduced soybean exports from Brazil as good crush margins and strong demand for soybean meal and oil result in an increase in projected crush. U.S. soybean oil production is increased this month due to an increase in the oil extraction rate. Domestic soybean oil use is reduced due to lower projected use for biodiesel. The U.S. Census Bureau has reported reduced biodiesel production from soybean oil for 6 consecutive months, and a declining share of total biodiesel production from soybean oil as soybean oil prices have climbed. Soybean oil exports are raised sharply this month reflecting strong sales and shipments through February. Stocks are also projected higher. The U.S. season-average soybean price range is projected at $10.00 to $10.80 per bushel unchanged from last month. The soybean meal price is projected at $320 to $350 per short ton, up $15 on both ends of the range. The soybean oil price is projected at 53 to 57 cents per pound, up 5.5 cents on both ends of the range. Global oilseed production for 2007/08 is projected at 390.1 million tons, down 0.2 million tons from last month. Higher sunflowerseed and peanut production only partly offsets lower soybean and rapeseed production. Global soybean production is reduced 0.2 million tons to 219.8 million. Bolivia's soybean crop is reduced 0.8 million tons as excessive rains and flooding have reduced projected harvested area and yields. Soybean production for Brazil is projected at a record 61 million tons, up 0.5 million from last month. Yields are projected record high due in part to reduced losses from rust. Global rapeseed production is reduced 0.9 million tons to 47.6 million mainly due to lower output in China resulting from lower yields. Other changes include increased peanut production for India, increased sunflowerseed production for EU- 27, and increased rapeseed production for Australia. Argentina soybean production for 2006/07 is raised to 48.8 million tons, up 1.6 million, based on reported crush, import, and export data for the marketing year. SUGAR: Projected 2007/08 U.S. sugar supply is decreased 51,000 short tons, raw value, from last month, due to lower production. Production is based on processors' projections compiled by the Farm Service Agency. Demand is unchanged. LIVESTOCK, POULTRY, AND DAIRY: The forecast for total 2008 U.S. meat production is raised primarily reflecting higher first quarter production forecasts for all major meats. Beef production is raised due to stronger-than-expected cow slaughter. The pork production forecast for the first quarter is raised as hog slaughter is expected to remain large in March. USDA will release its Quarterly Hogs and Pigs report on March 28, which will provide further insight into producer farrowing decisions for 2008. Poultry production forecasts are raised. Production for both broiler and turkey meat in January was large, and hatch data point to relatively large expansion into the second quarter. However, high feed prices and steadily weakening broiler prices during the year are expected to result in slower broiler production expansion in the second half of the year than forecast last month. Egg production is reduced slightly for early 2008 as the industry has not responded as rapidly as expected to egg price increases. Prior year production estimates for red meat, poultry, and eggs are adjusted to reflect recent slaughter and production revisions. Beef and pork import forecasts for 2008 are lowered from last month. Beef imports are lowered as relatively high domestic cow slaughter reduces the demand for imported processing beef. Pork imports are lowered as imports from Canada are expected to decline, reflecting the continued large shipments of hogs. Beef export forecasts for 2007 and 2008 are lowered due to slow shipments to a number of markets. Pork export forecasts for 2008 are unchanged. Broiler export forecasts are raised as sales are expected to remain strong. Forecasts for 2008 prices are adjusted to reflect markets in the first quarter. However, turkey and egg price forecasts also are raised for the outlying quarters of 2008 as production responses have been slow and markets are expected to remain firm. Forecasts for 2008 milk production are raised as continued growth in cow numbers is expected to more than offset slower growth in output per cow. Producers continue to respond to the strong returns in 2007 but high feed prices are likely to slow the rate of gain in milk per cow. Both Class III and Class IV price forecasts for 2008 are adjusted from last month. The Class III price forecast is raised as cheese prices are forecast higher which more than offsets a lower forecast whey price. The Class IV price forecast is lowered from last month as lower forecast nonfat dry milk (NDM) prices more than offset a higher butter price forecast. Despite large stocks of butter, prices have remained relatively strong and are forecast higher for the year. However, NDM prices have declined during the first quarter and the 2008 price forecast is lowered from last month. The all milk price forecast for 2008 is raised to $17.30 to $17.90 per cwt. COTTON: This month's 2007/08 U.S. cotton forecasts include sharply lower exports, resulting in a 15 percent increase in ending stocks compared with last month. Production and domestic mill use are unchanged. Exports are lowered 1.2 million bales to 14.5 million due to a combination of lower import demand by China and Turkey and greater competition for market share from India. Ending stocks are raised to 9.4 million bales, marginally below the beginning level. The world cotton forecasts for 2007/08 show lower production, consumption, and trade relative to last month, with ending stocks raised 3 percent. Production is reduced for China, Brazil, and Turkey, but raised for Pakistan. World consumption is reduced 1.5 percent from last month, mainly in China, India, and Turkey, due to weaker than anticipated textile demand combined with higher cotton prices relative to polyester. World trade overall is reduced more than 1.0 million bales due to a reduction in China's imports. Exports are reduced for the United States, Brazil, and others, but raised for India, which has increased exportable supplies. World ending stocks are forecast at 59.2 million bales, down 3 percent from the beginning level. Approved by the Secretary of Agriculture and the Chairperson of the World Agricultural Outlook Board, Gerald A. Bange, (202) 720-6030. This report was prepared by the Interagency Commodity Estimates Committees. APPROVED BY: EDWARD T. SCHAFER SECRETARY OF AGRICULTURE INTERAGENCY COMMODITY ESTIMATES COMMITTEES Note: The World Agricultural Outlook Board reviews and approves the World Agricultural Supply and Demand Estimates (WASDE) report. The Board's analysts chair the Interagency Commodity Estimates Committees (ICECs) that prepare the monthly report. Wheat: Jerry Norton, ICEC Chair, WAOB, E-mail: jnorton@oce.usda.gov Gary Vocke, ERS; Joshua Lagos, FAS; Dennis Shields, FSA. Rice: Andrew C. Aaronson, ICEC Chair, WAOB, E- mail: aaaronson@oce.usda.gov Nathan Childs, ERS; Robert Miller, FAS; William Chambers, FSA. Feed Grains: Jerry Norton, ICEC Chair, WAOB, E- mail: jnorton@oce.usda.gov Allen Baker, ERS; Richard O'Meara, FAS; Pete Riley, FSA. Oilseeds: Keith Menzie, ICEC Chair, WAOB, E- mail: kmenzie@oce.usda.gov Mark Ash, ERS; Bill George, FAS; Max Fisher, FSA. Cotton: Carol Skelly, ICEC Chair, WAOB, E-mail: cskelly@oce.usda.gov Darryl Earnest, AMS; Leslie Meyer, ERS; James Johnson, FAS; Steven Neff, FSA. Sugar: John Love, ICEC Chair, WAOB, E-mail: jlove@oce.usda.gov Stephen Haley, ERS; Ron Lord, FAS; Barbara Fecso, FSA. Meat Animals: Shayle Shagam, ICEC Chair, WAOB, E-mail: sshagam@oce.usda.gov Warren Preston, AMS; Mildred M. Haley, ERS; Claire Mezoughem, FAS; Dale Leuck, FSA. Poultry: Shayle Shagam, ICEC Chair, WAOB, E- mail: sshagam@oce.usda.gov Marc Warman, AMS; David Harvey, ERS; Michelle DeGraaf, FAS; Milton Madison, FSA. Dairy: Shayle Shagam, ICEC Chair, WAOB, E-mail: sshagam@oce.usda.gov Jerry Cessna, AMS; Roger Hoskin, ERS; Paul Kiendl, FAS; Milton Madison, FSA. In 2008, the WASDE report will be released on Apr. 9, May 9, June 10, July 11, Aug. 12, Sep. 12, Oct. 10, Nov. 10, Dec. 11. T A B L E OF C O N T E N T S Page Highlights . . . . . . . . . . . . . . . . . . . . . . . . . .1 Interagency Commodity Estimates Committees . . . . . . . . . .6 World & U.S. Supply & Use for Grains . . . . . . . . . . . . .8 World & U.S. Supply & Use for Cotton . . . . . . . . . . . . .9 World & U.S. Supply & Use for Oilseeds . . . . . . . . . . . 10 U.S. Wheat Supply & Use. . . . . . . . . . . . . . . . . . . 11 U.S. Wheat Supply & Use by Class . . . . . . . . . . . . . . 11 U.S. Feed Grain & Corn Supply & Use. . . . . . . . . . . . . 12 U.S. Sorghum, Barley, & Oats Supply & Use. . . . . . . . . . 13 U.S. Rice Supply & Use . . . . . . . . . . . . . . . . . . . 14 U.S. Soybeans & Products Supply & Use. . . . . . . . . . . . 15 U.S. Sugar Supply & Use. . . . . . . . . . . . . . . . . . . 16 U.S. Cotton Supply & Use . . . . . . . . . . . . . . . . . . 17 World Wheat Supply & Use . . . . . . . . . . . . . . . . . . 18 World Coarse Grains Supply & Use . . . . . . . . . . . . . . 20 World Corn Supply & Use. . . . . . . . . . . . . . . . . . . 22 World Rice Supply & Use. . . . . . . . . . . . . . . . . . . 24 World Cotton Supply & Use . . . . . . . . . . . . . . . . . 26 World Soybean Supply & Use . . . . . . . . . . . . . . . . . 28 World Soybean Meal Supply & Use. . . . . . . . . . . . . . . 29 World Soybean Oil Supply & Use . . . . . . . . . . . . . . . 30 U.S. Quarterly Animal Product Production . . . . . . . . . . 31 U.S. Quarterly Prices for Animal Products. . . . . . . . . . 31 U.S. Meats Supply and Use. . . . . . . . . . . . . . . . . . 32 U.S. Egg Supply & Use. . . . . . . . . . . . . . . . . . . . 33 U.S. Milk Supply and Use . . . . . . . . . . . . . . . . . . 33 U.S. Dairy Prices. . . . . . . . . . . . . . . . . . . . . . 34 Reliability Tables . . . . . . . . . . . . . . . . . . . . . 35 Related USDA Reports . . . . . . . . . . . . . . . . . . . . 38 Metric Conversion Factors. . . . . . . . . . . . . . . . . . 38 Electronic Access and Subscriptions. . . . . . . . . . . . . 40 WASDE-456-8 World and U.S. Supply and Use for Grains 1/ Million Metric Tons =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : World Total grains 3/ : 2005/06 : 2,016.44 2,420.10 253.48 2,031.54 388.57 2006/07 (Est.) : 1,991.07 2,379.64 258.02 2,044.34 335.30 2007/08 (Proj.) : February : 2,076.13 2,412.86 255.26 2,105.12 307.74 March : 2,084.09 2,419.39 256.47 2,105.43 313.96 Wheat : 2005/06 : 621.46 772.08 116.16 624.43 147.65 2006/07 (Est.) : 593.19 740.83 110.69 615.77 125.06 2007/08 (Proj.) : February : 603.59 728.67 106.40 618.97 109.70 March : 604.96 730.02 106.89 619.62 110.40 Coarse grains 4/ : 2005/06 : 977.34 1,155.90 107.12 991.50 164.40 2006/07 (Est.) : 979.65 1,144.05 116.48 1,008.58 135.48 2007/08 (Proj.) : February : 1,051.91 1,188.43 119.50 1,062.46 125.97 March : 1,056.19 1,191.67 120.18 1,063.28 128.39 Rice, milled : 2005/06 : 417.64 492.12 30.21 415.60 76.52 2006/07 (Est.) : 418.23 494.75 30.85 420.00 74.76 2007/08 (Proj.) : February : 420.63 495.77 29.36 423.70 72.07 March : 422.94 497.69 29.39 422.53 75.17 : : United States Total grains 3/ : 2005/06 : 363.16 442.68 90.72 280.27 71.68 2006/07 (Est.) : 335.67 413.87 86.12 277.90 49.85 2007/08 (Proj.) : February : 413.62 469.45 106.80 315.17 47.48 March : 413.62 469.62 107.41 315.51 46.70 Wheat : 2005/06 : 57.28 74.19 27.29 31.36 15.55 2006/07 (Est.) : 49.32 68.18 24.73 31.04 12.41 2007/08 (Proj.) : February : 56.25 71.11 32.66 31.05 7.40 March : 56.25 71.11 33.34 31.19 6.58 Coarse grains 4/ : 2005/06 : 298.76 359.61 59.77 245.07 54.77 2006/07 (Est.) : 280.11 337.43 58.45 242.81 36.17 2007/08 (Proj.) : February : 351.06 390.08 70.59 280.13 39.36 March : 351.06 390.25 70.48 280.33 39.43 Rice, milled : 2005/06 : 7.11 8.87 3.66 3.84 1.37 2006/07 (Est.) : 6.24 8.26 2.94 4.05 1.27 2007/08 (Proj.) : February : 6.31 8.26 3.55 3.99 0.72 March : 6.31 8.26 3.58 3.99 0.69 =============================================================================== 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-456-9 World and U.S. Supply and Use for Grains, Continued 1/ Million Metric Tons =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : Foreign 3/ Total grains 4/ : 2005/06 : 1,653.28 1,977.43 162.76 1,751.27 316.88 2006/07 (Est.) : 1,655.41 1,965.77 171.90 1,766.44 285.44 2007/08 (Proj.) : February : 1,662.51 1,943.41 148.46 1,789.96 260.26 March : 1,670.47 1,949.77 149.06 1,789.92 267.25 Wheat : 2005/06 : 564.18 697.88 88.87 593.07 132.10 2006/07 (Est.) : 543.87 672.66 85.96 584.73 112.65 2007/08 (Proj.) : February : 547.35 657.56 73.74 587.91 102.31 March : 548.71 658.92 73.55 588.43 103.82 Coarse grains 5/ : 2005/06 : 678.57 796.29 47.34 746.43 109.64 2006/07 (Est.) : 699.54 806.62 58.03 765.76 99.31 2007/08 (Proj.) : February : 700.84 798.35 48.91 782.33 86.61 March : 705.13 801.42 49.70 782.95 88.96 Rice, milled : 2005/06 : 410.53 483.25 26.55 411.77 75.15 2006/07 (Est.) : 412.00 486.49 27.91 415.94 73.49 2007/08 (Proj.) : February : 414.32 487.50 25.81 419.71 71.34 March : 416.62 489.43 25.81 418.54 74.48 =============================================================================== 1/ Aggregate of local marketing years. 2/ Based on export estimate. See individual commodity tables for treatment of export/import imbalances. 3/ Total foreign is equal to world minus United States. 4/ Wheat, coarse grains and milled rice. 5/ Corn, sorghum, barley, oats, rye, millet and mixed grains. World and U.S. Supply and Use for Cotton 1/ Million 480-lb. bales =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : World 2005/06 : 117.69 175.00 44.59 116.23 60.15 2006/07 (Est.) : 122.08 182.23 37.42 123.24 61.03 2007/08 (Proj.) : February : 119.21 179.92 40.05 126.32 57.33 March : 118.89 179.93 39.02 124.45 59.16 : United States 2005/06 : 23.89 29.41 17.55 5.87 6.05 2006/07 (Est.) : 21.59 27.66 13.01 4.95 9.48 2007/08 (Proj.) : February : 19.03 28.53 15.70 4.60 8.20 March : 19.03 28.53 14.50 4.60 9.40 : Foreign 3/ 2005/06 : 93.80 145.59 27.05 110.36 54.10 2006/07 (Est.) : 100.49 154.57 24.41 118.30 51.56 2007/08 (Proj.) : February : 100.18 151.39 24.35 121.72 49.13 March : 99.86 151.40 24.52 119.85 49.76 =============================================================================== 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-456-10 World and U.S. Supply and Use for Oilseeds 1/ (Million Metric Tons) =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade : Use 2/ : Stocks =============================================================================== : : World Oilseeds : 2005/06 : 391.81 448.61 76.03 318.65 64.09 2006/07 (Est.) : 407.98 472.07 82.97 330.94 72.94 2007/08 (Proj.) : February : 390.31 461.27 87.78 340.83 53.33 March : 390.09 463.03 87.00 341.12 55.23 Oilmeals : 2005/06 : 215.89 223.98 65.49 214.80 7.82 2006/07 (Est.) : 225.21 233.03 68.22 222.74 7.09 2007/08 (Proj.) : February : 233.98 240.94 72.51 231.17 6.78 March : 233.79 240.88 73.01 231.08 6.97 Vegetable Oils : 2005/06 : 118.27 128.31 47.04 115.23 9.98 2006/07 (Est.) : 122.03 132.00 48.51 121.27 8.88 2007/08 (Proj.) : February : 127.87 137.07 50.54 127.32 8.59 March : 128.22 137.10 50.82 127.49 8.76 : : United States Oilseeds : 2005/06 : 95.53 104.49 26.61 51.90 14.20 2006/07 (Est.) : 96.61 111.84 31.68 53.45 17.02 2007/08 (Proj.) : February : 80.01 97.93 28.44 54.29 5.51 March : 80.01 97.95 29.08 54.35 4.94 Oilmeals : 2005/06 : 39.95 41.82 7.61 33.85 0.36 2006/07 (Est.) : 41.54 43.60 8.25 34.96 0.39 2007/08 (Proj.) : February : 42.18 44.37 8.17 35.87 0.33 March : 42.21 44.45 8.19 35.94 0.33 Vegetable Oils : 2005/06 : 10.39 13.87 0.90 11.17 1.80 2006/07 (Est.) : 10.44 14.76 1.32 11.79 1.66 2007/08 (Proj.) : February : 10.68 15.05 1.31 12.33 1.41 March : 10.77 15.19 1.46 12.17 1.56 : : Foreign 3/ Oilseeds : 2005/06 : 296.28 344.13 49.42 266.75 49.89 2006/07 (Est.) : 311.37 360.23 51.28 277.49 55.92 2007/08 (Proj.) : February : 310.30 363.34 59.34 286.54 47.82 March : 310.08 365.08 57.92 286.77 50.29 Oilmeals : 2005/06 : 175.94 182.16 57.88 180.95 7.46 2006/07 (Est.) : 183.67 189.43 59.97 187.78 6.70 2007/08 (Proj.) : February : 191.80 196.57 64.34 195.30 6.45 March : 191.58 196.43 64.82 195.14 6.64 Vegetable Oils : 2005/06 : 107.88 114.44 46.14 104.06 8.18 2006/07 (Est.) : 111.59 117.24 47.20 109.49 7.23 2007/08 (Proj.) : February : 117.19 122.02 49.24 114.98 7.18 March : 117.44 121.90 49.36 115.32 7.20 =============================================================================== 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-456-11 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : February March =============================================================================== Area : Million acres Planted : 57.2 57.3 60.4 60.4 Harvested : 50.1 46.8 51.0 51.0 Yield per harvested : Bushels acre : 42.0 38.7 40.5 40.5 : Million bushels Beginning stocks : 540 571 456 456 Production : 2,105 1,812 2,067 2,067 Imports : 81 122 90 90 Supply, total : 2,726 2,505 2,613 2,613 Food : 915 933 945 950 Seed : 78 81 86 86 Feed and residual : 160 125 110 110 Domestic, total : 1,152 1,140 1,141 1,146 Exports : 1,003 909 1,200 1,225 Use, total : 2,155 2,049 2,341 2,371 Ending stocks : 571 456 272 242 CCC inventory : 43 41 35 34 Free stocks : 528 415 237 208 Outstanding loans : 42 14 5 3 Avg. farm price ($/bu) 2/ : 3.42 4.26 6.45- 6.85 6.50- 6.80 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 2006/07 (estimated) : Million bushels Beginning stocks : 215 132 106 78 40 571 Production : 682 432 390 254 53 1,812 Supply, total 3/ : 898 614 516 342 135 2,505 Domestic use : 452 247 261 101 79 1,140 Exports : 281 250 146 197 35 909 Use, total : 733 497 407 298 114 2,049 Ending stocks, total : 165 117 109 44 22 456 : 2007/08 (projected) : Beginning stocks : 165 117 109 44 22 456 Production : 962 449 358 227 72 2,067 Supply, total 3/ : 1,127 603 477 278 128 2,613 Domestic use : 496 240 245 91 74 1,146 Exports : 525 300 200 160 40 1,225 Use, total : 1,021 540 445 251 114 2,371 Ending stocks, total : March : 106 63 32 27 14 242 February : 121 73 32 27 19 272 =============================================================================== 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-456-12 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : February March =============================================================================== FEED GRAINS : Area : Million acres Planted : 96.4 92.5 109.1 109.1 Harvested : 85.9 80.1 98.4 98.4 Yield per harvested : Metric tons acre : 3.47 3.50 3.57 3.57 : Million metric tons Beginning stocks : 58.8 54.7 36.2 36.2 Production : 298.6 279.9 350.9 350.9 Imports : 1.9 2.4 2.7 2.9 Supply, total : 359.3 337.1 389.7 389.9 Feed and residual : 163.2 148.3 159.0 159.2 Food, seed & industrial : 81.5 94.2 120.8 120.8 Domestic, total : 244.7 242.5 279.8 280.0 Exports : 59.8 58.4 70.6 70.5 Use, total : 304.5 300.9 350.4 350.5 Ending stocks, total : 54.7 36.2 39.3 39.4 CCC inventory : 0.0 0.0 0.0 0.0 Free stocks : 54.7 36.2 39.3 39.4 Outstanding loans : 4.4 3.0 5.9 5.9 : CORN : Area : Million acres Planted : 81.8 78.3 93.6 93.6 Harvested : 75.1 70.6 86.5 86.5 Yield per harvested : Bushels acre : 148.0 149.1 151.1 151.1 : Million bushels Beginning stocks : 2,114 1,967 1,304 1,304 Production : 11,114 10,535 13,074 13,074 Imports : 9 12 15 15 Supply, total : 13,237 12,514 14,393 14,393 Feed and residual : 6,155 5,598 5,950 5,950 Food, seed & industrial : 2,981 3,488 4,555 4,555 Ethanol for fuel 2/ : 1,603 2,117 3,200 3,200 Domestic, total : 9,136 9,086 10,505 10,505 Exports : 2,134 2,125 2,450 2,450 Use, total : 11,270 11,210 12,955 12,955 Ending stocks, total : 1,967 1,304 1,438 1,438 CCC inventory : 0 0 0 0 Free stocks : 1,967 1,304 1,438 1,438 Outstanding loans : 171 116 230 230 Avg. farm price ($/bu) 3/ : 2.00 3.04 3.75- 4.25 3.75- 4.25 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a further breakout of FSI corn uses including ethanol, see the Feed Outlook table 5 or access the data on the Web through the Feed Grain Data Delivery System (http://www.ers.usda.gov/db/feedgrains/). 3/ Marketing-year weighted average price received by farmers. WASDE-456-13 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : February March =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 6.5 6.5 7.7 7.7 Area harv. (mil. acres) : 5.7 4.9 6.8 6.8 Yield (bushels/acre) : 68.5 56.2 74.2 74.2 Beginning stocks : 57 66 32 32 Production : 393 278 505 505 Imports : 0 0 0 0 Supply, total : 450 343 537 537 Feed and residual : 140 109 175 175 Food, seed & industrial : 50 45 35 35 Total domestic : 190 154 210 210 Exports : 194 157 285 285 Use, total : 384 311 495 495 Ending stocks, total : 66 32 42 42 Avg. farm price ($/bu) 2/ : 1.86 3.29 3.65- 4.15 3.65- 4.15 : BARLEY : Area planted (mil. acres) : 3.9 3.5 4.0 4.0 Area harv. (mil. acres) : 3.3 3.0 3.5 3.5 Yield (bushels/acre) : 64.8 61.1 60.4 60.4 Beginning stocks : 128 108 69 69 Production : 212 180 212 212 Imports : 5 12 20 20 Supply, total : 346 300 301 301 Feed and residual : 52 56 55 60 Food, seed & industrial : 158 156 145 145 Total domestic : 210 211 200 205 Exports : 28 20 50 45 Use, total : 238 231 250 250 Ending stocks, total : 108 69 51 51 Avg. farm price ($/bu) 2/ : 2.53 2.85 3.85- 4.35 3.95- 4.15 : OATS : Area planted (mil. acres) : 4.2 4.2 3.8 3.8 Area harv. (mil. acres) : 1.8 1.6 1.5 1.5 Yield (bushels/acre) : 63.0 59.8 60.9 60.9 Beginning stocks : 58 53 51 51 Production : 115 94 92 92 Imports : 91 106 110 120 Supply, total : 264 252 252 262 Feed and residual : 136 125 130 135 Food, seed & industrial : 74 74 75 75 Total domestic : 209 199 205 210 Exports : 2 3 2 2 Use, total : 211 202 207 212 Ending stocks, total : 53 51 45 50 Avg. farm price ($/bu) 2/ : 1.63 1.87 2.25- 2.75 2.40- 2.60 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for sorghum, June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. WASDE-456-14 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : February March =============================================================================== TOTAL : Area : Million acres Planted : 3.38 2.84 2.76 2.76 Harvested : 3.36 2.82 2.75 2.75 Yield per harvested : Pounds acre : 6,636 6,868 7,185 7,185 : : Million hundredweight : Beginning stocks 2/ : 37.7 43.0 39.3 39.3 Production : 223.2 193.7 197.5 197.5 Imports : 17.1 20.6 21.5 21.5 Supply, total : 278.1 257.3 258.3 258.3 Domestic & residual 3/ : 120.2 126.6 124.7 124.7 Exports, total 4/ : 114.9 91.4 111.0 112.0 Rough : 33.4 32.1 36.0 36.5 Milled (rough equiv.) : 81.4 59.3 75.0 75.5 Use, total : 235.1 218.0 235.7 236.7 Ending stocks : 43.0 39.3 22.6 21.6 Avg. milling yield (%) 5/ : 70.2 71.0 70.5 70.5 Avg. farm price ($/cwt) 6/ : 7.65 9.96 11.30-11.60 11.85-12.15 : LONG GRAIN : Harvested acres (mil.) : 2.73 2.19 2.05 2.05 Yield (pounds/acre) : 6,493 6,689 6,929 6,929 Beginning stocks : 22.7 32.7 28.5 28.5 Production : 177.5 146.2 142.2 142.2 Supply, total 7/ : 212.5 193.1 185.7 185.7 Domestic & Residual 3/ : 87.9 91.9 89.0 89.0 Exports 8/ : 92.0 72.7 86.0 86.0 Use, total : 179.8 164.6 175.0 175.0 Ending stocks : 32.7 28.5 10.7 10.7 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.63 0.64 0.70 0.70 Yield (pounds/acre) : 7,255 7,484 7,942 7,942 Beginning stocks : 13.8 9.4 10.0 10.0 Production : 45.7 47.5 55.3 55.3 Supply, total 7/ : 64.7 63.4 71.8 71.8 Domestic & Residual 3/ : 32.4 34.7 35.7 35.7 Exports 8/ : 22.9 18.7 25.0 26.0 Use, total : 55.2 53.4 60.7 61.7 Ending stocks : 9.4 10.0 11.1 10.1 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning August 1. 2/ Includes the following quantities of broken kernel rice (type undetermined) not included in estimates of beginning stocks by type (in mil. cwt): 2005/06-1.1; 2006/07-0.9; 2007/08-0.8. 3/ Residual includes unreported use, processing losses, and estimating errors. Use by type may not add to total rice use because of the difference in brokens between beginning and ending stocks. 4/ Includes rough rice and milled rice exports. Milled rice exports are converted to an equivalent rough basis. 5/ Expressed as a percent, i.e., the total quantity of whole kernel and broken rice produced divided by the quantity of rough rice milled. 6/ Marketing-year weighted average price received by farmers. 7/ Includes imports. 8/ Exports by type of rice are estimated. WASDE-456-15 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :=============================== : : Est. : February March =============================================================================== SOYBEANS: : Million acres Area : Planted : 72.0 75.5 63.6 63.6 Harvested : 71.3 74.6 62.8 62.8 : : Bushels Yield per harvested : acre : 43.0 42.7 41.2 41.2 : : Million bushels : Beginning stocks : 256 449 574 574 Production : 3,063 3,188 2,585 2,585 Imports : 3 9 6 6 Supply, total : 3,322 3,647 3,165 3,165 Crushings : 1,739 1,806 1,835 1,835 Exports : 940 1,118 1,005 1,025 Seed : 93 78 86 86 Residual : 101 70 79 79 Use, total : 2,873 3,073 3,005 3,025 Ending stocks : 449 574 160 140 Avg. farm price ($/bu) 2/ : 5.66 6.43 10.00-10.80 10.00 -10.80 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,699 3,010 2,904 2,904 Production : 20,387 20,487 21,010 21,195 Imports : 35 37 37 37 Supply, total : 22,122 23,535 23,952 24,137 Domestic : 17,959 18,743 19,500 18,900 For methyl ester 4/ : 1,555 2,796 3,400 2,800 Exports : 1,153 1,888 1,950 2,400 Use, total : 19,112 20,630 21,450 21,300 Ending stocks : 3,010 2,904 2,502 2,837 Average price (c/lb) 2/ : 23.41 31.02 47.50- 53.00- : 51.50 57.00 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 172 314 351 351 Production : 41,244 43,027 43,784 43,784 Imports : 141 156 165 165 Supply, total : 41,557 43,497 44,300 44,300 Domestic : 33,195 34,360 35,300 35,300 Exports : 8,048 8,786 8,700 8,700 Use, total : 41,243 43,146 44,000 44,000 Ending stocks : 314 351 300 300 Average price ($/s.t.) 2/ : 174.17 205.44 305.00- 320.00- : 335.00 350.00 =============================================================================== 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-456-16 U.S. Sugar Supply and Use 1/ ===================================================================== : : : 2007/08 Projection Item : 2005/06 : 2006/07 :==================== : : Est. : February March ===================================================================== : 1,000 short tons, raw value : Beginning stocks : 1,332 1,698 1,799 1,799 Production 2/ : 7,399 8,446 8,489 8,438 Beet sugar : 4,444 5,008 4,812 4,839 Cane sugar : 2,955 3,438 3,677 3,599 Florida : 1,367 1,719 1,751 1,697 Hawaii : 223 222 238 238 Louisiana : 1,190 1,320 1,490 1,490 Texas : 175 177 198 174 Imports : 3,443 2,080 2,241 2,241 TRQ 3/ : 2,588 1,624 1,336 1,336 Other program 4/ : 349 390 425 425 Other 5/ : 506 66 480 480 Mexico : 420 60 475 475 Total supply : 12,174 12,224 12,529 12,478 : Exports : 203 422 250 250 Deliveries : 10,341 10,135 10,250 10,250 Food : 10,184 9,913 10,050 10,050 Other 6/ : 157 222 200 200 Miscellaneous 7/ : -68 -132 0 0 Total use : 10,476 10,425 10,500 10,500 Ending stocks : 1,698 1,799 2,029 1,978 : Stocks to use ratio : 16.2 17.3 19.3 18.8 ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. Historical data are from FSA, "Sweetener Market Data" except imports (U.S. Customs Service, Census Bureau). 2/ Production projections for 2007/08 are processor projections compiled by the Farm Service Agency. 3/ Actual arrivals under the tariff rate quota (TRQ) with late entries, early entries, and TRQ overfills assigned to the fiscal year in which they actually arrived. For 2007/08, includes shortfall of 100,000 tons. 4/ Includes sugar under the re-export and polyhydric alcohol programs. 5/ Does not include Mexico TRQ imports. For 2005/06, other high-tier (30) and other (56). For 2006/07, other high-tier (6) and other (0). For 2007/08, other high-tier (5) and other (0). 6/ Transfers to sugar-containing products for reexport, and for nonedible alcohol and feed. 7/ Includes SMD miscellaneous uses and the difference between SMD imports and WASDE imports. WASDE-456-17 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :=============================== : : Est. : February March =============================================================================== : Million acres Area : Planted : 14.25 15.27 10.83 10.83 Harvested : 13.80 12.73 10.49 10.49 : : Pounds Yield per harvested : acre : 831 814 871 871 : : Million 480 pound bales : Beginning stocks 2/ : 5.50 6.05 9.48 9.48 Production : 23.89 21.59 19.03 19.03 Imports : 0.03 0.02 0.02 0.02 Supply, total : 29.41 27.66 28.53 28.53 Domestic use : 5.87 4.95 4.60 4.60 Exports : 17.55 13.01 15.70 14.50 Use, total : 23.42 17.96 20.30 19.10 Unaccounted 3/ : -0.06 0.22 0.03 0.03 Ending stocks : 6.05 9.48 8.20 9.40 : Avg. farm price 4/ : 47.7 46.5 55.1 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 2007 - January 2008. USDA is prohibited by law from publishing cotton price projections. =============================================================================== Notes: Public Law 106-78, signed October 22, 1999, requires the Secretary of Agriculture to estimate and report the U.S. upland cotton season-ending stocks-to-use ratio, excluding projected raw cotton imports but including the quantity of raw cotton imports that has been imported during the marketing year. Pursuant to this requirement, the estimated ratio for 2007/08 is 51.1 percent. A table including detail for upland and extra long staple (ELS) cotton will be posted by noon on WASDE report release days at: http://www.usda.gov/oce/commodity/wasde/index.htm WASDE-456-18 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2005/06 : World 3/ : 150.62 621.46 110.15 111.30 624.43 116.16 147.65 United States : 14.70 57.28 2.21 4.35 31.36 27.29 15.55 Total foreign : 135.92 564.18 107.93 106.95 593.07 88.87 132.10 Major exporters 4/ : 42.75 197.78 7.13 70.94 147.24 57.27 43.15 Argentina : 0.55 14.50 0.01 0.08 5.00 9.56 0.50 Australia : 6.78 25.17 0.08 3.70 6.40 16.01 9.62 Canada : 7.92 25.75 0.29 4.18 8.32 16.00 9.64 EU-27 5/ : 27.50 132.36 6.76 62.98 127.53 15.69 23.39 Major importers 6/ : 61.99 162.78 58.77 8.40 218.96 4.42 60.16 Brazil : 1.35 4.87 6.72 0.60 10.80 0.81 1.33 China : 38.82 97.45 1.02 3.50 101.00 1.40 34.89 Select. Mideast 7/ : 5.46 19.77 12.18 1.95 30.02 0.60 6.78 N. Africa 8/ : 10.52 15.18 18.56 0.30 33.51 0.23 10.51 Pakistan : 2.25 21.61 0.95 0.40 21.50 0.05 3.26 Southeast Asia 9/ : 2.05 0.00 10.33 1.23 10.00 0.38 2.00 Selected other : India : 4.10 68.64 0.03 0.30 69.97 0.80 2.00 FSU-12 : 13.46 91.92 5.15 23.31 75.74 21.13 13.67 Russia : 3.89 47.70 1.28 14.90 38.40 10.66 3.81 Kazakhstan : 3.19 11.00 0.04 2.70 7.40 3.82 3.01 Ukraine : 2.61 18.70 0.07 2.90 12.50 6.46 2.41 : : 2006/07 (Estimated) : World 3/ : 147.65 593.19 112.33 105.56 615.77 110.69 125.06 United States : 15.55 49.32 3.32 3.42 31.04 24.73 12.41 Total foreign : 132.10 543.87 109.01 102.14 584.73 85.96 112.65 Major exporters 4/ : 43.15 175.91 5.56 69.31 146.54 52.74 25.34 Argentina : 0.50 15.20 0.01 0.08 4.90 10.50 0.31 Australia : 9.62 10.64 0.09 4.70 7.40 8.73 4.22 Canada : 9.64 25.27 0.32 4.33 8.74 19.64 6.85 EU-27 5/ : 23.39 124.80 5.14 60.20 125.50 13.87 13.96 Major importers 6/ : 60.16 171.15 55.01 7.68 219.53 5.21 61.58 Brazil : 1.33 2.23 7.75 0.20 10.50 0.04 0.78 China : 34.89 104.47 0.38 4.00 101.00 2.78 35.96 Select. Mideast 7/ : 6.78 20.14 10.52 1.55 30.08 0.55 6.81 N. Africa 8/ : 10.51 18.53 16.30 0.25 33.90 0.26 11.18 Pakistan : 3.26 21.70 0.06 0.40 21.90 0.20 2.92 Southeast Asia 9/ : 2.00 0.00 10.65 0.88 9.96 0.42 2.28 Selected other : India : 2.00 69.35 6.71 0.30 73.36 0.20 4.50 FSU-12 : 13.67 85.98 5.93 21.45 73.64 22.35 9.60 Russia : 3.81 44.90 0.86 14.10 36.40 10.79 2.38 Kazakhstan : 3.01 13.50 0.03 2.70 7.50 8.00 1.04 Ukraine : 2.41 14.00 0.08 2.10 11.70 3.37 1.43 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and the EU-27. 5/ Trade excludes intra-trade. 6/ Brazil, China, Japan, Mexico, N. Africa, Pakistan, selected Middle East, and Southeast Asia. 7/ Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and Oman. 8/ Algeria, Egypt, Libya, Morocco, and Tunisia. 9/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-456-19 World Wheat Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2007/08 (Projected) World 3/ : February : 125.08 603.59 104.73 99.39 618.97 106.40 109.70 March : 125.06 604.96 104.86 99.49 619.62 106.89 110.40 United States : February : 12.41 56.25 2.45 2.99 31.05 32.66 7.40 March : 12.41 56.25 2.45 2.99 31.19 33.34 6.58 Total foreign : February : 112.66 547.35 102.29 96.40 587.91 73.74 102.31 March : 112.65 548.71 102.41 96.50 588.43 73.55 103.82 Major exporters 4/ : February : 25.34 168.09 6.86 62.65 140.56 41.00 18.72 March : 25.34 168.30 6.86 62.75 140.67 40.50 19.32 Argentina Feb : 0.31 15.50 0.01 0.08 5.40 10.00 0.41 Mar : 0.31 15.50 0.01 0.08 5.40 9.50 0.91 Australia Feb : 4.22 13.00 0.08 3.40 6.10 8.00 3.20 Mar : 4.22 13.10 0.08 3.50 6.20 8.00 3.20 Canada Feb : 6.85 20.05 0.28 4.50 9.10 14.00 4.07 Mar : 6.85 20.05 0.28 4.50 9.10 14.00 4.07 EU-27 5/ Feb : 13.96 119.54 6.50 54.67 119.97 9.00 11.03 Mar : 13.96 119.65 6.50 54.67 119.97 9.00 11.14 Major importers 6/ : February : 61.56 170.71 54.00 6.95 219.95 5.65 60.67 March : 61.58 171.01 53.83 6.95 219.78 5.91 60.73 Brazil Feb : 0.78 3.40 7.00 0.20 10.50 0.04 0.64 Mar : 0.78 3.83 7.00 0.20 10.50 0.30 0.81 China Feb : 35.96 106.00 0.15 4.00 100.50 2.50 39.11 Mar : 35.96 106.00 0.15 4.00 100.50 2.50 39.11 Sel. Mideast 7/Feb : 6.79 20.27 8.75 0.90 29.05 0.55 6.21 Mar : 6.81 20.09 8.58 0.90 28.88 0.55 6.04 N. Africa 8/ Feb : 11.18 13.78 17.80 0.15 34.88 0.16 7.73 Mar : 11.18 13.78 17.80 0.15 34.88 0.16 7.73 Pakistan Feb : 2.92 23.00 1.00 0.40 22.40 1.00 3.52 Mar : 2.92 23.00 1.00 0.40 22.40 1.00 3.52 SE Asia 9/ Feb : 2.28 0.00 10.20 0.90 10.28 0.43 1.78 Mar : 2.28 0.00 10.20 0.90 10.28 0.43 1.78 Selected other : India Feb : 4.50 74.89 2.00 0.20 75.85 0.05 5.49 Mar : 4.50 75.81 2.00 0.20 75.85 0.05 6.41 FSU-12 Feb : 9.60 93.49 5.37 23.68 76.42 22.65 9.39 Mar : 9.60 93.49 5.57 23.68 76.61 22.65 9.39 Russia Feb : 2.38 49.40 1.00 15.40 38.20 12.50 2.08 Mar : 2.38 49.40 1.00 15.40 38.20 12.50 2.08 Kazakhstan Feb : 1.04 16.60 0.02 2.70 7.50 8.50 1.66 Mar : 1.04 16.60 0.02 2.70 7.50 8.50 1.66 Ukraine Feb : 1.43 13.90 0.35 3.10 12.70 1.50 1.48 Mar : 1.43 13.90 0.35 3.10 12.70 1.50 1.48 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and the EU-27. 5/ Trade excludes intra-trade. 6/ Brazil, China, Japan, Mexico, N. Africa, Pakistan, selected Middle East, and Southeast Asia. 7/ Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and Oman. 8/ Algeria, Egypt, Libya, Morocco, and Tunisia. 9/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-456-20 World Coarse Grain Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2005/06 : World 3/ : 178.57 977.34 104.50 635.27 991.50 107.12 164.40 United States : 58.80 298.76 2.05 163.33 245.07 59.77 54.77 Total foreign : 119.77 678.57 102.45 471.93 746.43 47.34 109.64 Major exporters 4/ : 13.61 65.04 3.09 35.55 48.23 20.26 13.26 Argentina : 1.56 19.22 0.06 6.81 9.37 10.02 1.46 Australia : 2.30 13.54 0.00 5.89 7.17 5.59 3.08 Canada : 6.32 24.97 1.99 18.64 22.92 4.08 6.28 Major importers 5/ : 47.64 216.52 77.50 218.30 293.31 5.66 42.69 EU-27 6/ : 25.12 146.74 2.78 109.42 147.54 4.36 22.75 Japan : 1.88 0.19 19.77 15.06 20.09 0.01 1.74 Mexico : 5.40 25.83 9.90 21.19 37.59 0.21 3.34 N. Afr & Mideast 7/: 8.57 26.61 18.84 38.90 45.80 0.89 7.33 Saudi Arabia : 2.71 0.20 8.52 8.00 8.19 0.00 3.25 Southeast Asia 8/ : 1.69 16.55 4.41 14.57 20.33 0.20 2.13 South Korea : 1.40 0.34 8.55 6.56 8.91 0.00 1.38 Selected other : Brazil : 4.38 44.17 1.36 35.01 42.22 4.52 3.17 China : 37.02 147.70 2.31 103.12 147.46 3.76 35.81 FSU-12 : 7.24 55.31 1.16 33.76 49.75 8.47 5.49 Russia : 2.67 27.60 0.54 17.65 27.70 1.78 1.33 Ukraine : 2.67 18.14 0.07 8.45 11.99 6.50 2.40 : : 2006/07 (Estimated) : World 3/ : 164.40 979.65 112.94 630.12 1008.58 116.48 135.48 United States : 54.77 280.11 2.55 148.37 242.81 58.45 36.17 Total foreign : 109.64 699.54 110.39 481.75 765.76 58.03 99.31 Major exporters 4/ : 13.26 65.02 3.74 36.28 49.92 23.00 9.10 Argentina : 1.46 27.54 0.00 7.36 10.02 16.81 2.17 Australia : 3.08 6.58 0.00 4.96 6.20 2.02 1.44 Canada : 6.28 23.15 2.17 19.45 24.45 3.65 3.49 Major importers 5/ : 42.69 211.99 84.72 220.21 295.85 5.69 37.87 EU-27 6/ : 22.75 138.32 7.99 108.01 146.51 4.69 17.86 Japan : 1.74 0.18 19.67 14.88 19.82 0.00 1.76 Mexico : 3.34 28.73 11.02 22.90 39.45 0.22 3.43 N. Afr & Mideast 7/: 7.33 27.29 20.92 40.20 47.43 0.31 7.80 Saudi Arabia : 3.25 0.20 8.10 8.43 8.61 0.00 2.94 Southeast Asia 8/ : 2.13 16.90 3.70 14.56 20.32 0.47 1.94 South Korea : 1.38 0.33 8.80 6.96 9.16 0.00 1.35 Selected other : Brazil : 3.17 53.17 1.76 36.29 43.44 10.82 3.84 China : 35.81 153.50 1.16 104.47 152.23 5.41 32.83 FSU-12 : 5.49 58.70 0.89 35.67 51.27 8.48 5.34 Russia : 1.33 30.20 0.36 18.60 28.60 1.62 1.67 Ukraine : 2.40 19.18 0.05 9.95 13.38 6.13 2.12 =============================================================================== 1/ Aggregate of local marketing years. Coarse grains include corn, sorghum, barley, oats, rye, millet, and mixed grains (for U.S. excludes millet and mixed grains). 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and South Africa. 5/ The EU-27, Mexico, Japan, selected North Africa and Middle East, South Korea, Southeast Asia, and Taiwan. 6/ Trade excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya, Morocco, Syria, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-456-21 World Coarse Grain Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2007/08 (Projected) World 3/ : February : 136.52 1051.91 116.91 651.96 1062.46 119.50 125.97 March : 135.48 1056.19 117.86 652.43 1063.28 120.18 128.39 United States : February : 36.17 351.06 2.84 159.05 280.13 70.59 39.36 March : 36.17 351.06 3.01 159.26 280.33 70.48 39.43 Total foreign : February : 100.35 700.84 114.07 492.90 782.33 48.91 86.61 March : 99.31 705.13 114.85 493.17 782.95 49.70 88.96 Major exporters 4/ : February : 9.05 75.40 2.45 36.90 51.47 25.47 9.96 March : 9.10 75.70 2.45 36.92 51.51 25.62 10.12 Argentina Feb : 2.17 26.67 0.00 7.51 10.27 16.61 1.97 Mar : 2.17 26.67 0.00 7.51 10.27 16.61 1.97 Australia Feb : 1.40 9.41 0.00 5.59 6.88 2.54 1.39 Mar : 1.44 9.71 0.00 5.62 6.91 2.69 1.55 Canada Feb : 3.49 27.84 2.07 19.09 24.65 4.80 3.95 Mar : 3.49 27.84 2.07 19.09 24.65 4.80 3.95 Major importers 5/ : February : 37.94 208.91 90.92 226.94 303.27 5.47 29.03 March : 37.87 209.37 92.00 228.09 304.45 5.47 29.32 EU-27 6/ Feb : 17.86 136.60 14.56 112.37 151.47 5.06 12.49 Mar : 17.86 136.63 15.46 113.35 152.45 5.06 12.44 Japan Feb : 1.76 0.17 19.14 14.51 19.54 0.00 1.53 Mar : 1.76 0.20 19.14 14.54 19.57 0.00 1.53 Mexico Feb : 3.43 29.78 11.80 24.48 41.18 0.10 3.73 Mar : 3.43 29.78 11.33 23.98 40.71 0.10 3.73 N Afr/M.East 7/Feb : 7.87 24.65 20.50 40.02 47.01 0.05 5.96 Mar : 7.80 24.65 21.70 41.07 48.06 0.05 6.05 Saudi Arabia Feb : 2.94 0.20 7.40 8.63 8.81 0.00 1.73 Mar : 2.94 0.20 7.40 8.63 8.81 0.00 1.73 S.-east Asia 8/Feb : 1.94 17.12 4.21 15.56 21.42 0.26 1.59 Mar : 1.94 17.53 3.66 15.16 21.02 0.26 1.84 South Korea Feb : 1.35 0.32 8.87 7.05 9.23 0.00 1.31 Mar : 1.35 0.32 8.87 7.05 9.23 0.00 1.31 Selected other : Brazil Feb : 4.84 52.86 1.01 38.28 45.51 8.53 4.67 Mar : 3.84 55.86 1.01 38.15 45.38 9.15 6.17 China Feb : 32.83 153.40 1.43 106.60 157.74 1.04 28.88 Mar : 32.83 153.60 1.33 106.51 157.51 0.75 29.50 FSU-12 Feb : 5.34 53.91 0.56 34.85 50.37 4.95 4.49 Mar : 5.34 53.91 0.56 34.85 50.37 4.95 4.49 Russia Feb : 1.67 29.33 0.38 18.78 29.05 1.05 1.27 Mar : 1.67 29.33 0.38 18.78 29.05 1.05 1.27 Ukraine Feb : 2.12 14.59 0.02 9.29 12.29 2.51 1.93 Mar : 2.12 14.59 0.02 9.29 12.29 2.51 1.93 =============================================================================== 1/ Aggregate of local marketing years. Coarse grains include corn, sorghum, barley, oats, rye, millet, and mixed grains (for U.S. excludes millet and mixed grains). 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and South Africa. 5/ The EU-27, Mexico, Japan, selected North Africa and Middle East, South Korea, Southeast Asia, and Taiwan. 6/ Trade excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya, Morocco, Syria, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-456-22 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2005/06 : World 3/ : 131.41 696.30 79.47 476.33 703.98 80.93 123.74 United States : 53.70 282.31 0.22 156.34 232.06 54.20 49.97 Total foreign : 77.71 413.99 79.24 320.00 471.92 26.73 73.77 Major exporters 4/ : 4.15 22.74 1.00 8.40 14.40 10.01 3.46 Argentina : 0.96 15.80 0.06 4.40 6.20 9.46 1.16 South Africa : 3.19 6.94 0.93 4.00 8.20 0.55 2.31 Major importers 5/ : 18.02 103.16 47.86 105.16 149.70 0.84 18.50 Egypt : 0.42 5.93 4.40 8.30 10.10 0.00 0.65 EU-27 6/ : 8.11 61.16 2.63 47.00 61.50 0.45 9.95 Japan : 1.03 0.00 16.62 12.00 16.70 0.01 0.94 Mexico : 4.53 19.50 6.79 12.40 27.90 0.21 2.71 Southeast Asia 7/ : 1.66 16.46 4.40 14.50 20.25 0.17 2.10 South Korea : 1.40 0.07 8.49 6.51 8.58 0.00 1.38 Selected other : Brazil : 4.19 41.70 1.15 33.00 39.50 4.52 3.02 Canada : 1.80 9.36 1.93 8.55 10.84 0.25 2.00 China : 36.56 139.36 0.06 101.00 137.00 3.73 35.26 FSU-12 : 2.14 13.29 0.71 10.27 11.93 2.55 1.65 Ukraine : 1.32 7.15 0.01 4.40 5.10 2.46 0.92 : : 2006/07 (Estimated) : World 3/ : 123.74 704.28 90.92 472.39 721.85 92.86 106.17 United States : 49.97 267.60 0.30 142.19 230.79 53.97 33.11 Total foreign : 73.77 436.69 90.61 330.20 491.06 38.89 73.06 Major exporters 4/ : 3.46 29.80 1.50 9.10 15.40 15.80 3.56 Argentina : 1.16 22.50 0.00 4.80 6.70 15.30 1.66 South Africa : 2.31 7.30 1.50 4.30 8.70 0.50 1.91 Major importers 5/ : 18.50 99.69 54.37 107.21 151.91 1.33 19.32 Egypt : 0.65 5.94 4.83 8.50 10.50 0.00 0.91 EU-27 6/ : 9.95 54.83 7.06 46.50 61.10 0.66 10.08 Japan : 0.94 0.00 16.71 11.90 16.50 0.00 1.15 Mexico : 2.71 22.00 8.94 14.70 30.30 0.22 3.13 Southeast Asia 7/ : 2.10 16.81 3.70 14.50 20.25 0.44 1.91 South Korea : 1.38 0.07 8.74 6.91 8.83 0.00 1.35 Selected other : Brazil : 3.02 51.00 1.40 34.50 41.00 10.70 3.72 Canada : 2.00 8.99 2.10 8.46 11.44 0.31 1.34 China : 35.26 145.48 0.02 103.00 143.00 5.27 32.48 FSU-12 : 1.65 12.85 0.48 10.49 12.13 1.13 1.72 Ukraine : 0.92 6.40 0.02 4.50 5.25 1.03 1.07 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina and South Africa. 5/ Egypt, the EU-27, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-456-23 World Corn Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2007/08 (Projected) World 3/ : February : 107.25 766.23 92.43 491.05 771.60 94.12 101.88 March : 106.17 770.17 92.88 490.90 772.31 94.42 104.03 United States : February : 33.11 332.09 0.38 151.14 266.84 62.23 36.52 March : 33.11 332.09 0.38 151.14 266.84 62.23 36.52 Total foreign : February : 74.14 434.14 92.05 339.91 504.76 31.89 65.37 March : 73.06 438.08 92.50 339.76 505.47 32.19 67.52 Major exporters 4/ : February : 3.56 32.50 0.25 9.30 15.80 16.50 4.01 March : 3.56 32.50 0.25 9.30 15.80 16.50 4.01 Argentina Feb : 1.66 21.50 0.00 4.80 6.70 15.00 1.46 Mar : 1.66 21.50 0.00 4.80 6.70 15.00 1.46 South Africa Feb : 1.91 11.00 0.25 4.50 9.10 1.50 2.56 Mar : 1.91 11.00 0.25 4.50 9.10 1.50 2.56 Major importers 5/ : February : 19.33 93.10 58.30 110.40 155.98 0.64 14.12 March : 19.32 93.49 58.25 110.50 156.07 0.64 14.35 Egypt Feb : 0.91 5.98 4.50 8.60 10.70 0.00 0.69 Mar : 0.91 5.98 5.00 9.10 11.20 0.00 0.69 EU-27 6/ Feb : 10.08 47.50 10.00 46.60 61.60 0.30 5.67 Mar : 10.08 47.48 10.50 47.10 62.10 0.30 5.65 Japan Feb : 1.15 0.00 16.30 11.80 16.50 0.00 0.95 Mar : 1.15 0.00 16.30 11.80 16.50 0.00 0.95 Mexico Feb : 3.13 22.50 10.20 16.70 32.50 0.10 3.23 Mar : 3.13 22.50 9.70 16.20 32.00 0.10 3.23 S.-east Asia 7/Feb : 1.91 17.03 4.20 15.50 21.35 0.24 1.56 Mar : 1.91 17.44 3.65 15.10 20.95 0.24 1.82 South Korea Feb : 1.35 0.06 8.80 7.00 8.90 0.00 1.31 Mar : 1.35 0.06 8.80 7.00 8.90 0.00 1.31 Selected other : Brazil Feb : 4.72 50.00 0.75 36.00 42.50 8.50 4.47 Mar : 3.72 53.00 0.75 36.00 42.50 9.00 5.97 Canada Feb : 1.34 11.65 2.00 9.20 12.70 0.40 1.89 Mar : 1.34 11.65 2.00 9.20 12.70 0.40 1.89 China Feb : 32.48 145.00 0.10 105.00 148.00 1.00 28.58 Mar : 32.48 145.00 0.10 105.00 148.00 0.50 29.08 FSU-12 Feb : 1.72 13.79 0.23 10.69 12.28 1.58 1.88 Mar : 1.72 13.79 0.23 10.69 12.28 1.58 1.88 Ukraine Feb : 1.07 7.40 0.00 5.00 5.60 1.50 1.37 Mar : 1.07 7.40 0.00 5.00 5.60 1.50 1.37 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina and South Africa. 5/ Egypt, the EU-27, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-456-24 World Rice Supply and Use (Milled Basis) 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total 2/: : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2005/06 World 3/ : 74.48 417.64 25.94 415.60 30.21 76.52 United States : 1.21 7.11 0.54 3.84 3.66 1.37 Total foreign : 73.27 410.53 25.39 411.77 26.55 75.15 Major exporters 4/ : 12.41 138.31 0.36 114.92 20.43 15.73 India : 8.50 91.79 0.01 85.09 4.69 10.52 Pakistan : 0.31 5.55 0.00 1.90 3.66 0.30 Thailand : 2.31 18.20 0.00 9.54 7.38 3.59 Vietnam : 1.29 22.77 0.35 18.39 4.71 1.32 Major importers 5/ : 12.79 59.66 10.79 69.69 0.50 13.04 Brazil : 1.75 7.87 0.75 8.97 0.28 1.11 EU-27 6/ : 1.14 1.73 1.13 2.65 0.16 1.18 Indonesia : 3.45 34.96 0.54 35.74 0.00 3.21 Nigeria : 0.42 2.70 1.78 4.35 0.00 0.55 Philippines : 4.57 9.82 1.62 10.72 0.00 5.29 Sel. Mideast 7/ : 1.27 2.02 3.91 5.61 0.06 1.54 Selected other : Burma : 0.71 10.44 0.00 10.40 0.05 0.70 C. Amer & Carib 8/ : 0.13 0.07 0.48 0.48 0.00 0.20 China : 38.93 126.41 0.65 128.00 1.22 36.78 Egypt : 0.50 4.14 0.03 3.34 0.96 0.36 Japan : 1.92 8.26 0.67 8.25 0.20 2.40 Mexico : 0.17 0.18 0.58 0.78 0.00 0.16 South Korea : 0.82 4.77 0.22 4.77 0.22 0.82 : : 2006/07 (Estimated) World 3/ : 76.52 418.23 27.92 420.00 30.85 74.76 United States : 1.37 6.24 0.65 4.05 2.94 1.27 Total foreign : 75.15 412.00 27.27 415.94 27.91 73.49 Major exporters 4/ : 15.73 139.69 0.46 117.99 22.12 15.76 India : 10.52 93.35 0.00 86.94 5.50 11.43 Pakistan : 0.30 5.20 0.00 2.44 2.60 0.46 Thailand : 3.59 18.25 0.01 9.87 9.50 2.48 Vietnam : 1.32 22.89 0.45 18.75 4.52 1.39 Major importers 5/ : 13.04 58.49 11.90 70.27 0.42 12.75 Brazil : 1.11 7.70 0.69 8.72 0.22 0.56 EU-27 6/ : 1.18 1.69 1.30 2.75 0.15 1.27 Indonesia : 3.21 33.30 1.90 35.55 0.00 2.86 Nigeria : 0.55 2.90 1.60 4.45 0.00 0.60 Philippines : 5.29 10.09 1.80 11.55 0.00 5.63 Sel. Mideast 7/ : 1.54 2.22 3.35 5.38 0.05 1.68 Selected other : Burma : 0.70 10.60 0.00 10.56 0.03 0.71 C. Amer & Carib 8/ : 0.20 0.07 0.38 0.48 0.00 0.17 China : 36.78 127.80 0.47 127.80 1.34 35.92 Egypt : 0.36 4.38 0.10 3.24 1.21 0.40 Japan : 2.40 7.79 0.68 8.25 0.20 2.41 Mexico : 0.16 0.23 0.59 0.80 0.00 0.18 South Korea : 0.82 4.68 0.27 4.78 0.16 0.82 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, and the EU-27. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries. WASDE-456-25 World Rice Supply and Use (Milled Basis) 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total 2/: : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2007/08 (Projected) World 3/ : February : 75.13 420.63 27.45 423.70 29.36 72.07 March : 74.76 422.94 27.96 422.53 29.39 75.17 United States : February : 1.27 6.31 0.68 3.99 3.55 0.72 March : 1.27 6.31 0.68 3.99 3.58 0.69 Total foreign : February : 73.87 414.32 26.77 419.71 25.81 71.34 March : 73.49 416.62 27.28 418.54 25.81 74.48 Major exporters 4/ : February : 15.76 139.26 0.46 119.56 20.40 15.52 March : 15.76 141.26 0.46 120.69 20.40 16.39 India Feb : 11.43 92.00 0.00 88.80 3.50 11.13 Mar : 11.43 94.00 0.00 89.93 3.50 12.00 Pakistan Feb : 0.46 5.40 0.00 2.44 2.90 0.52 Mar : 0.46 5.40 0.00 2.44 2.90 0.52 Thailand Feb : 2.48 18.60 0.01 9.60 9.00 2.49 Mar : 2.48 18.60 0.01 9.60 9.00 2.49 Vietnam Feb : 1.39 23.26 0.45 18.72 5.00 1.39 Mar : 1.39 23.26 0.45 18.72 5.00 1.39 Major importers 5/ : February : 12.74 59.70 10.98 71.68 0.32 11.41 March : 12.75 60.09 10.98 71.69 0.32 11.80 Brazil Feb : 0.56 7.99 0.85 8.90 0.15 0.35 Mar : 0.56 7.99 0.85 8.90 0.15 0.35 EU-27 6/ Feb : 1.27 1.68 1.10 2.75 0.15 1.15 Mar : 1.27 1.68 1.10 2.75 0.15 1.15 Indonesia Feb : 2.86 34.00 1.60 36.15 0.00 2.31 Mar : 2.86 34.00 1.60 36.15 0.00 2.31 Nigeria Feb : 0.60 3.00 1.70 4.70 0.00 0.60 Mar : 0.60 3.00 1.70 4.70 0.00 0.60 Philippines Feb : 5.63 10.01 1.80 12.06 0.00 5.38 Mar : 5.63 10.40 1.80 12.06 0.00 5.77 Sel. Mideast 7/Feb : 1.67 2.42 2.96 5.51 0.02 1.52 Mar : 1.68 2.42 2.96 5.52 0.02 1.52 Selected other : Burma Feb : 0.70 10.66 0.00 10.70 0.20 0.46 Mar : 0.71 10.66 0.00 10.70 0.20 0.47 C. Am & Car. 8/Feb : 0.22 0.07 0.40 0.49 0.00 0.19 Mar : 0.17 0.07 0.40 0.49 0.00 0.14 China Feb : 35.97 129.50 0.60 129.10 1.30 35.67 Mar : 35.92 129.50 0.60 127.00 1.30 37.72 Egypt Feb : 0.40 4.38 0.00 3.40 0.95 0.43 Mar : 0.40 4.38 0.00 3.40 0.95 0.43 Japan Feb : 2.38 7.94 0.70 8.15 0.20 2.67 Mar : 2.41 7.93 0.70 8.15 0.20 2.69 Mexico Feb : 0.18 0.20 0.63 0.80 0.00 0.20 Mar : 0.18 0.20 0.63 0.80 0.00 0.20 South Korea Feb : 0.82 4.41 0.27 4.76 0.15 0.58 Mar : 0.82 4.41 0.27 4.76 0.15 0.58 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, the EU-27. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries. WASDE-456-26 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2005/06 : World : 57.31 117.69 44.37 116.23 44.59 -1.60 60.15 United States : 5.50 23.89 0.03 5.87 17.55 -0.06 6.05 Total foreign : 51.81 93.80 44.34 110.36 27.05 -1.54 54.10 Major exporters 4/ : 22.34 43.71 1.74 25.59 22.47 -0.24 19.98 Central Asia 5/ : 2.29 8.37 0.20 1.40 7.31 0.00 2.16 Afr. Fr. Zone 6/ : 1.87 4.24 3/ 0.19 4.44 0.00 1.48 S. Hemis. 7/ : 7.99 8.94 0.61 5.51 5.55 -0.25 6.75 Australia : 1.96 2.80 3/ 0.06 2.88 -0.12 1.94 Brazil : 5.03 4.70 0.31 4.40 1.97 -0.15 3.82 India : 8.76 19.05 0.40 16.70 3.45 0.00 8.06 Major importers 8/ : 27.04 46.53 40.08 80.15 2.89 -1.31 31.91 Mexico : 1.32 0.64 1.74 2.10 0.25 0.03 1.32 China : 15.06 29.50 19.28 45.00 0.04 -1.50 20.31 EU-27 9/ : 1.15 2.51 2.31 2.72 2.01 0.06 1.18 Russia : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey : 1.79 3.55 3.40 6.90 0.18 0.00 1.67 Pakistan : 4.95 10.17 1.62 11.50 0.29 0.03 4.91 Indonesia : 0.38 0.03 2.20 2.18 0.02 0.05 0.37 Thailand : 0.57 0.02 1.89 2.05 0.01 0.03 0.41 Bangladesh : 0.38 0.07 2.21 2.20 0.00 0.01 0.46 : : 2006/07 (Estimated) : World : 60.15 122.08 37.30 123.24 37.42 -2.17 61.03 United States : 6.05 21.59 0.02 4.95 13.01 0.22 9.48 Total foreign : 54.10 100.49 37.28 118.30 24.41 -2.39 51.56 Major exporters 4/ : 19.98 45.69 2.21 27.32 20.63 -0.19 20.12 Central Asia 5/ : 2.16 8.19 0.31 1.52 6.96 0.00 2.18 Afr. Fr. Zone 6/ : 1.48 3.64 3/ 0.19 3.81 0.00 1.13 S. Hemis. 7/ : 6.75 9.87 0.95 5.71 4.09 -0.20 7.97 Australia : 1.94 1.35 3/ 0.06 2.13 -0.07 1.18 Brazil : 3.82 7.00 0.52 4.50 1.30 -0.15 5.68 India : 8.06 21.80 0.40 18.10 4.80 0.00 7.36 Major importers 8/ : 31.91 51.73 32.39 86.39 2.42 -2.21 29.44 Mexico : 1.32 0.65 1.35 2.10 0.18 0.03 1.03 China : 20.31 35.50 10.59 50.00 0.09 -2.40 18.71 EU-27 9/ : 1.18 1.61 2.02 2.36 1.58 0.06 0.83 Russia : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey : 1.67 3.90 4.00 7.30 0.21 0.00 2.06 Pakistan : 4.91 9.90 2.30 12.50 0.26 0.03 4.33 Indonesia : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Thailand : 0.41 0.02 1.95 1.95 0.00 0.03 0.40 Bangladesh : 0.46 0.07 2.40 2.40 0.00 0.01 0.52 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, China, and the United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Paraguay, South Africa, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, South Korea, Taiwan, and Vietnam. 9/ Includes intra-EU trade. WASDE-456-27 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2007/08 (Projected) World : February : 60.71 119.21 40.32 126.32 40.05 -3.47 57.33 March : 61.03 118.89 39.24 124.45 39.02 -3.48 59.16 United States : February : 9.48 19.03 0.02 4.60 15.70 0.03 8.20 March : 9.48 19.03 0.02 4.60 14.50 0.03 9.40 Total foreign : February : 51.24 100.18 40.30 121.72 24.35 -3.50 49.13 March : 51.56 99.86 39.22 119.85 24.52 -3.50 49.76 Major exporters 4/ : February : 19.80 47.41 2.00 28.13 21.00 -0.19 20.26 March : 20.12 47.29 1.87 27.47 21.23 -0.19 20.78 Central Asia 5/Feb : 2.21 8.35 0.30 1.70 6.93 0.00 2.23 Mar : 2.18 8.35 0.30 1.64 6.93 0.00 2.27 Afr. Fr. Zn. 6/Feb : 1.13 2.72 3/ 0.19 2.83 0.00 0.83 Mar : 1.13 2.72 3/ 0.19 2.83 0.00 0.83 S. Hemis 7/ Feb : 7.97 9.31 0.75 5.75 4.30 -0.20 8.18 Mar : 7.97 9.20 0.62 5.75 4.13 -0.20 8.12 Australia Feb : 1.18 0.60 3/ 0.05 1.30 -0.07 0.50 Mar : 1.18 0.60 3/ 0.05 1.25 -0.07 0.55 Brazil Feb : 5.68 7.20 0.35 4.50 2.40 -0.15 6.48 Mar : 5.68 7.10 0.25 4.50 2.30 -0.15 6.38 India Feb : 7.01 24.50 0.40 18.70 5.70 0.00 7.51 Mar : 7.36 24.50 0.40 18.10 6.10 0.00 8.06 Major importers 8/ : February : 29.44 49.81 35.68 89.07 2.14 -3.32 27.05 March : 29.44 49.61 34.70 87.84 2.09 -3.32 27.15 Mexico Feb : 1.03 0.65 1.50 2.00 0.18 0.03 0.98 Mar : 1.03 0.65 1.50 2.00 0.18 0.03 0.98 China Feb : 18.71 35.50 13.50 54.00 0.08 -3.50 17.14 Mar : 18.71 35.00 12.50 53.00 0.08 -3.50 16.64 EU-27 9/ Feb : 0.83 1.59 1.84 2.12 1.38 0.05 0.70 Mar : 0.83 1.59 1.86 2.14 1.33 0.05 0.76 Russia Feb : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Mar : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey Feb : 2.06 3.30 3.75 7.10 0.20 0.00 1.81 Mar : 2.06 3.20 3.60 6.80 0.20 0.00 1.86 Pakistan Feb : 4.33 8.60 3.20 12.00 0.15 0.03 3.95 Mar : 4.33 9.00 3.30 12.00 0.15 0.03 4.45 Indonesia Feb : 0.35 0.03 2.25 2.20 0.02 0.05 0.36 Mar : 0.35 0.03 2.25 2.20 0.02 0.05 0.36 Thailand Feb : 0.40 0.02 1.80 1.80 0.00 0.03 0.39 Mar : 0.40 0.02 1.80 1.80 0.00 0.03 0.39 Bangladesh Feb : 0.52 0.07 2.45 2.50 0.00 0.01 0.54 Mar : 0.52 0.07 2.45 2.50 0.00 0.01 0.54 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, and the United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Paraguay, South Africa, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, South Korea, Taiwan, and Vietnam. 9/ Includes intra-EU trade. WASDE-456-28 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 2005/06 World 2/ : 47.50 220.54 64.04 185.08 215.25 63.94 52.88 United States : 6.96 83.37 0.09 47.32 52.61 25.58 12.23 Total foreign : 40.54 137.17 63.95 137.76 162.64 38.36 40.66 Major exporters 3/ : 32.91 101.14 0.66 61.39 65.87 35.63 33.21 Argentina : 15.98 40.50 0.58 31.89 33.34 7.25 16.47 Brazil : 16.75 57.00 0.06 28.29 31.17 25.91 16.73 Major importers 4/ : 6.40 18.99 53.04 56.66 72.05 0.42 5.97 China : 4.70 16.35 28.32 34.50 44.54 0.35 4.47 EU-27 : 0.88 1.17 13.94 13.53 14.97 0.05 0.98 Japan : 0.26 0.23 3.96 2.82 4.19 0.00 0.26 Mexico : 0.05 0.19 3.67 3.82 3.86 0.00 0.04 : : 2006/07 (Estimated) World 2/ : 52.88 237.23 68.91 195.30 224.82 70.92 63.29 United States : 12.23 86.77 0.25 49.16 53.20 30.43 15.62 Total foreign : 40.66 150.46 68.66 146.14 171.62 40.49 47.67 Major exporters 3/ : 33.21 114.00 2.05 66.32 70.90 37.02 41.34 Argentina : 16.47 48.80 1.99 33.59 35.09 9.54 22.63 Brazil : 16.73 59.00 0.05 30.68 33.63 23.49 18.67 Major importers 4/ : 5.97 18.54 55.50 58.83 74.42 0.52 5.07 China : 4.47 15.97 28.73 35.48 45.60 0.45 3.12 EU-27 : 0.98 1.24 15.29 14.56 16.00 0.05 1.46 Japan : 0.26 0.23 4.09 2.93 4.31 0.00 0.27 Mexico : 0.04 0.08 3.94 3.99 4.02 0.00 0.04 : : 2007/08 (Projected) World 2/ : February : 61.67 220.07 75.32 204.85 235.50 75.75 45.82 March : 63.29 219.85 75.00 205.63 236.03 74.67 47.44 United States : February : 15.62 70.36 0.16 49.94 54.44 27.35 4.35 March : 15.62 70.36 0.16 49.94 54.44 27.90 3.81 Total foreign : February : 46.05 149.72 75.16 154.91 181.06 48.40 41.47 March : 47.67 149.49 74.84 155.69 181.59 46.78 43.63 Major exporters 3/ : February : 39.74 114.50 2.22 70.53 75.16 45.49 35.81 March : 41.34 115.00 2.54 72.53 77.16 43.79 37.93 Argentina Feb : 21.03 47.00 2.10 38.50 40.04 11.20 18.89 Mar : 22.63 47.00 2.40 38.50 40.04 11.50 20.49 Brazil Feb : 18.67 60.50 0.10 29.70 32.68 29.69 16.91 Mar : 18.67 61.00 0.12 31.70 34.68 27.69 17.43 Major importers 4/ : February : 5.07 16.47 61.41 61.99 77.99 0.35 4.61 March : 5.07 16.47 60.73 61.51 77.26 0.35 4.66 China Feb : 3.12 14.30 34.00 38.10 48.35 0.30 2.77 Mar : 3.12 14.30 34.00 38.10 48.30 0.30 2.82 EU-27 Feb : 1.46 0.84 15.45 15.00 16.44 0.03 1.29 Mar : 1.46 0.84 14.95 14.50 15.94 0.03 1.29 Japan Feb : 0.27 0.23 4.15 2.93 4.33 0.00 0.32 Mar : 0.27 0.23 4.10 2.88 4.28 0.00 0.32 Mexico Feb : 0.04 0.10 3.95 4.01 4.05 0.00 0.04 Mar : 0.04 0.10 3.95 4.01 4.05 0.00 0.04 =============================================================================== 1/ Data based on local marketing years except Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil and Paraguay. 4/ Japan, China, and EU, Mexico, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). WASDE-456-29 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2005/06 World 2/ : 6.50 145.58 50.77 145.55 51.43 5.87 United States : 0.16 37.42 0.13 30.11 7.30 0.29 Total foreign : 6.35 108.17 50.64 115.44 44.13 5.58 Major exporters 3/ : 3.88 51.63 0.20 11.48 40.77 3.46 Argentina : 1.42 25.01 0.00 0.57 24.19 1.68 Brazil : 1.58 21.84 0.20 9.25 12.90 1.47 India : 0.88 4.77 0.00 1.66 3.68 0.31 Major importers 4/ : 1.23 39.27 29.44 67.75 1.09 1.10 EU-27 : 0.86 10.64 22.82 32.76 0.70 0.87 China : 0.00 27.30 0.84 27.78 0.36 0.00 : : 2006/07 (Estimated) World 2/ : 5.87 153.52 51.62 151.28 54.09 5.63 United States : 0.29 39.03 0.14 31.17 7.97 0.32 Total foreign : 5.58 114.49 51.48 120.11 46.12 5.32 Major exporters 3/ : 3.46 55.01 0.17 13.54 41.79 3.31 Argentina : 1.68 26.06 0.00 0.60 25.62 1.52 Brazil : 1.47 23.68 0.17 10.99 12.72 1.61 India : 0.31 5.27 0.00 1.95 3.46 0.18 Major importers 4/ : 1.10 40.88 28.49 67.95 1.45 1.07 EU-27 : 0.87 11.45 22.08 32.99 0.55 0.85 China : 0.00 28.09 0.03 27.26 0.87 0.00 : : 2007/08 (Projected) World 2/ : February : 5.45 161.55 55.90 159.83 57.63 5.43 March : 5.63 161.77 56.30 160.22 57.87 5.61 United States : February : 0.32 39.72 0.15 32.02 7.89 0.27 March : 0.32 39.72 0.15 32.02 7.89 0.27 Total foreign : February : 5.13 121.83 55.75 127.81 49.74 5.16 March : 5.32 122.05 56.15 128.20 49.98 5.33 Major exporters 3/ : February : 3.13 59.47 0.22 14.01 45.59 3.22 March : 3.31 60.73 0.22 14.51 46.33 3.41 Argentina Feb : 1.57 30.23 0.00 0.64 29.49 1.66 Mar : 1.52 29.90 0.00 0.64 29.26 1.52 Brazil Feb : 1.38 23.00 0.22 11.24 12.00 1.36 Mar : 1.61 24.51 0.22 11.74 12.90 1.70 India Feb : 0.18 6.25 0.00 2.13 4.10 0.19 Mar : 0.18 6.32 0.00 2.13 4.17 0.19 Major importers 4/ : February : 1.07 43.31 31.15 73.43 1.04 1.06 March : 1.07 42.99 31.55 73.51 1.04 1.06 EU-27 Feb : 0.85 11.80 24.00 35.34 0.45 0.86 Mar : 0.85 11.41 24.40 35.35 0.45 0.86 China Feb : 0.00 30.15 0.40 30.00 0.55 0.00 Mar : 0.00 30.17 0.50 30.12 0.55 0.00 =============================================================================== 1/ Data based on local marketing years except for Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil, and India. 4/ Eastern Europe, China, EU, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). WASDE-456-30 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2005/06 World 2/ : 3.05 34.52 9.01 33.51 9.82 3.24 United States : 0.77 9.25 0.02 8.15 0.52 1.37 Total foreign : 2.27 25.27 9.00 25.37 9.29 1.88 Major exporters 3/ : 1.14 13.85 0.74 6.40 8.33 1.00 Argentina : 0.49 6.00 0.00 0.40 5.60 0.49 Brazil : 0.45 5.43 0.03 3.13 2.47 0.31 EU-27 : 0.20 2.42 0.71 2.87 0.27 0.19 Major importers 4/ : 0.64 7.20 3.26 10.55 0.12 0.43 China : 0.25 6.15 1.52 7.61 0.11 0.20 India : 0.39 1.05 1.73 2.92 0.01 0.23 Pakistan : 0.01 0.00 0.02 0.02 0.00 0.00 : : 2006/07 (Estimated) World 2/ : 3.24 36.25 9.75 35.59 10.67 2.99 United States : 1.37 9.29 0.02 8.50 0.86 1.32 Total foreign : 1.88 26.96 9.74 27.09 9.81 1.67 Major exporters 3/ : 1.00 14.91 0.96 7.31 8.66 0.90 Argentina : 0.49 6.42 0.00 0.57 5.96 0.39 Brazil : 0.31 5.89 0.00 3.43 2.46 0.32 EU-27 : 0.19 2.60 0.96 3.31 0.24 0.20 Major importers 4/ : 0.43 7.53 3.84 11.24 0.10 0.46 China : 0.20 6.34 2.40 8.60 0.09 0.25 India : 0.23 1.18 1.40 2.60 0.01 0.21 Pakistan : 0.00 0.01 0.04 0.04 0.00 0.00 : : 2007/08 (Projected) World 2/ : February : 3.03 38.08 10.33 37.92 10.92 2.59 March : 2.99 38.37 10.52 37.95 11.17 2.76 United States : February : 1.32 9.53 0.02 8.85 0.88 1.14 March : 1.32 9.61 0.02 8.57 1.09 1.29 Total foreign : February : 1.71 28.55 10.31 29.08 10.04 1.46 March : 1.67 28.75 10.50 29.38 10.08 1.47 Major exporters 3/ : February : 0.94 15.73 0.92 7.82 8.90 0.88 March : 0.90 16.06 1.02 8.03 9.06 0.89 Argentina Feb : 0.39 7.35 0.00 0.94 6.40 0.40 Mar : 0.39 7.38 0.00 1.09 6.30 0.38 Brazil Feb : 0.36 5.70 0.01 3.50 2.27 0.30 Mar : 0.32 6.09 0.10 3.60 2.57 0.33 EU-27 Feb : 0.20 2.68 0.92 3.38 0.23 0.18 Mar : 0.20 2.60 0.92 3.34 0.19 0.18 Major importers 4/ : February : 0.46 8.20 4.15 12.46 0.06 0.29 March : 0.46 8.22 4.15 12.47 0.06 0.30 China Feb : 0.25 6.80 3.00 9.79 0.05 0.21 Mar : 0.25 6.80 3.00 9.79 0.05 0.21 India Feb : 0.21 1.40 1.10 2.62 0.01 0.08 Mar : 0.21 1.42 1.10 2.63 0.01 0.09 Pakistan Feb : 0.00 0.01 0.05 0.06 0.00 0.00 Mar : 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-456-31 U.S. Quarterly Animal Product Production 1/ =============================================================================== Year : : : Red : : : Total: Red : : : and : : : meat : : :poultry: meat & : : : quarter : Beef : Pork : 2/ :Broiler:Turkey: 3/ : poultry: Egg : Milk : =============================================================================== : Million pounds Mil doz Bil lbs 2006 : Annual : 26153 21055 47540 35500 5682 41686 89226 7572 181.8 : 2007 : I : 6237 5396 11722 8625 1413 10153 21875 1869 46.1 II : 6649 5128 11856 9085 1482 10696 22552 1874 47.4 III : 6802 5256 12130 9131 1488 10747 22877 1883 46.1 IV : 6733 6163 12976 9285 1575 10986 23962 1921 46.0 Annual : Feb Est : 26415 21942 48677 35949 5937 42384 91061 7517 185.6 Mar Est : 26421 21943 48684 36126 5958 42582 91266 7547 185.6 : 2008 : I *: 6400 5915 12397 9075 1500 10700 23097 1870 48.0 II *: 6700 5500 12279 9400 1525 11055 23334 1885 49.0 III *: 6925 5575 12578 9350 1530 11010 23588 1905 47.0 IV *: 6410 6145 12637 9300 1580 11010 23647 1940 46.7 Annual : Feb Proj : 26300 23045 49669 36975 6090 43575 93244 7615 190.6 Mar Proj : 26435 23135 49891 37125 6135 43775 93666 7600 190.7 =============================================================================== * Projection. 1/ Commercial production for red meats; federally inspected for poultry meats. 2/ Beef, pork, veal and lamb & mutton. 3/ Broilers, turkeys and mature chicken. U.S. Quarterly Prices for Animal Products 1/ =============================================================================== Year : Choice : Barrows : : : : : and : steers :and gilts : Broilers : Turkeys : Eggs : Milk : quarter : 2/ : 3/ : 4/ : 5/ : 6/ : 7/ : =============================================================================== : Dol./cwt Dol./cwt Cents/lb. Cents/lb. Cents/doz. Dol./cwt 2006 : Annual : 85.41 47.26 64.4 77.0 71.8 12.90 : 2007 : I : 90.61 46.04 75.0 69.7 105.3 15.00 II : 93.45 52.55 80.3 77.9 92.0 18.27 III : 91.36 50.33 79.2 89.9 119.1 21.67 IV : 91.85 39.43 71.1 90.8 141.0 21.60 Annual : Feb Est : 91.82 47.09 76.4 82.1 114.4 19.13 Mar Est : 91.82 47.09 76.4 82.1 114.4 19.13 : 2008 : I *: 90-91 40-41 78-79 77-78 155-156 19.15-19.35 II *: 90-94 43-45 75-79 78-82 117-123 17.10-17.60 III *: 87-95 43-47 74-80 79-85 101-109 16.40-17.20 IV *: 86-94 38-42 70-76 82-88 106-114 16.50-17.50 Annual : Feb Proj : 88-94 41-43 73-78 77-82 107-114 16.85-17.55 Mar Proj : 88-93 41-44 74-79 79-83 119-126 17.30-17.90 =============================================================================== *Projection. 1/ Simple average of months. 2/ Nebraska, Direct, 1100-1300 lbs. 3/ National Base, Live equiv 51-52% lean. 4/ Wholesale, 12-city average. 5/ 8-12 lbs, hens Eastern Region. 6/ Grade A large, New York, volume buyers. 7/ Prices received by farmers for all milk. WASDE-456-32 U.S. Meats Supply and Use ============================================================================ : Supply : Use :--------------------------------------------------------- : : : : : : : Disappearance : : Pro- : : : : :--------------- : Beg- : duc- : : : : End- : : Per Item :inning: tion : Im- :Total : Ex- : ing : :capita :stocks: 1/ :ports :supply: ports:stocks:Total : 2/ 3/ ============================================================================ : Million pounds 4/ BEEF : 2006 : 571 26257 3085 29913 1145 630 28138 65.8 2007 Est. Feb : 630 26520 3048 30198 1431 631 28137 65.2 Mar : 630 26523 3052 30205 1431 630 28145 65.2 2008 Proj. Feb : 631 26405 3120 30156 1670 600 27886 64.0 Mar : 630 26537 3070 30237 1540 600 28097 64.5 : PORK : 2006 : 494 21075 990 22559 2995 514 19050 49.4 2007 Est. Feb : 514 21962 986 23462 3179 541 19742 50.7 Mar : 514 21962 968 23444 3138 542 19764 50.8 2008 Proj. Feb : 541 23065 965 24571 3685 565 20321 51.7 Mar : 542 23154 925 24621 3685 580 20356 51.8 : TOTAL RED MEAT 5/ : 2006 : 1080 47678 4265 53022 4158 1166 47698 116.7 2007 Est. Feb : 1166 48815 4227 54208 4621 1192 48395 117.4 Mar : 1166 48818 4223 54207 4579 1192 48436 117.5 2008 Proj. Feb : 1192 49807 4285 55284 5365 1182 48737 117.3 Mar : 1192 50025 4195 55412 5234 1197 48981 117.8 : BROILERS : 2006 : 924 35369 47 36340 5205 745 30389 87.2 2007 Est. Feb : 745 35564 61 36370 5801 741 29827 84.8 Mar : 745 35739 61 36545 5772 739 30034 85.4 2008 Proj. Feb : 741 36579 60 37380 5900 680 30800 86.8 Mar : 739 36728 60 37527 6000 680 30847 86.9 : TURKEYS : 2006 : 206 5612 12 5829 547 218 5065 16.9 2007 Est. Feb : 218 5859 10 6088 562 239 5286 17.5 Mar : 218 5880 9 6107 554 261 5292 17.5 2008 Proj. Feb : 239 6010 12 6261 605 275 5381 17.7 Mar : 261 6055 12 6327 605 275 5447 17.9 : TOTAL POULTRY 6/ : 2006 : 1132 41485 61 42678 5911 969 35798 105.3 2007 Est. Feb : 969 41921 74 42963 6533 982 35449 103.4 Mar : 969 42117 74 43159 6490 1002 35667 104.0 2008 Proj. Feb : 982 43099 75 44156 6655 961 36540 105.6 Mar : 1002 43297 75 44373 6755 961 36657 106.0 : RED MEAT & POULTRY: 2006 : 2212 89163 4326 95701 10070 2135 83496 222.0 2007 Est. Feb : 2135 90736 4301 97172 11154 2174 83844 220.8 Mar : 2135 90935 4297 97366 11069 2194 84103 221.6 2008 Proj. Feb : 2174 92906 4360 99440 12020 2143 85277 222.9 Mar : 2194 93322 4270 99785 11989 2158 85638 223.8 ============================================================================ 1/ Total including farm production for red meats and, for poultry, federally inspected plus non-federally inspected, less condemnations. 2/ Pounds, retail-weight basis. 3/ Population source: Dept. of Commerce, Census Bureau. 4/ Carcass weight for red meats and certified ready-to-cook weight for poultry. 5/ Beef, pork, veal, lamb and mutton. 6/ Broilers, turkeys and mature chicken. WASDE-456-33 U.S. Egg Supply and Use =============================================================================== : : : 2007 Estimated : 2008 Projected : : :-----------------:------------------ Commodity : 2005 : 2006 : Feb : Mar : Feb : Mar =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 14.5 16.0 12.5 12.5 10.8 11.1 Production : 7511.0 7572.0 7517.0 7547.0 7615.0 7600.0 Imports : 8.5 8.6 14.6 13.7 14.0 14.0 Total supply : 7534.0 7596.6 7544.1 7573.2 7639.8 7625.1 : Use : Exports : 203.3 202.1 245.6 251.0 230.0 230.0 Hatching use : 999.8 993.9 1015.8 1015.8 1040.0 1040.0 Ending stocks : 16.0 12.5 10.8 11.1 12.0 12.0 Disappearance : Total : 6314.9 6388.1 6271.9 6295.3 6357.8 6343.1 Per capita (number) : 255.7 256.2 249.1 250.1 250.2 249.7 =============================================================================== U.S. Milk Supply and Use =============================================================================== : : : 2007 Estimated : 2008 Projected Commodity : : :-----------------:------------------ : 2005 : 2006 : Feb : Mar : Feb : Mar =============================================================================== : Billion pounds Milk : Production : 176.9 181.8 185.6 185.6 190.6 190.7 Farm use : 1.1 1.1 1.1 1.1 1.1 1.1 : Fat Basis Supply : Beg. commercial stocks : 7.2 8.0 9.5 9.5 10.4 10.4 Marketings : 175.8 180.7 184.5 184.5 189.5 189.6 Imports : 5.0 5.0 4.8 4.6 4.7 4.6 Total cml. supply : 187.9 193.6 198.7 198.6 204.6 204.5 : Fat Basis Use : Ending commercial stks : 8.0 9.5 10.4 10.4 10.5 10.5 CCC net removals 1/ : 0.0 0.0 0.0 0.0 0.0 0.0 Commercial use 2/ : 179.9 184.1 188.4 188.3 194.1 194.0 : Skim-solids Basis Supply : Beg. commercial stocks : 8.2 9.0 9.1 9.1 9.8 9.9 Marketings : 175.8 180.7 184.5 184.5 189.5 189.6 Imports : 4.8 4.8 4.5 4.4 4.4 4.4 Total cml. supply : 188.8 194.4 198.1 198.0 203.8 203.8 : Skim-solids Basis Use : Ending commercial stks : 9.0 9.1 9.8 9.9 10.2 10.2 CCC net removals 1/ : -1.0 0.7 0.0 0.0 0.0 0.0 Commercial use 2/ : 180.8 184.5 188.2 188.1 193.6 193.6 : : Million pounds CCC product net removals 1: Butter : 0 0 0 0 0 0 Cheese : -2 0 0 0 0 0 Nonfat dry milk : -81 64 0 0 0 0 Dry whole milk : 0 0 0 0 0 0 =============================================================================== Note: Totals may not add due to rounding. 1/ Includes products exported under the Dairy Export Incentive Program. 2/ Includes commercial exports. WASDE-456-34 U.S. Dairy Prices ============================================================================ : : : 2007 Estimated : 2008 Projected : : :-----------------:------------------ Commodity : 2005 : 2006 : Feb : Mar : Feb : Mar ============================================================================ : Dollars per pound : Product Prices 1/ : Cheese : 1.4875 1.2470 1.7380 1.7380 1.635- 1.745- : 1.705 1.805 : Butter : 1.5405 1.2193 1.3441 1.3441 1.185- 1.225- : 1.285 1.315 : Nonfat dry milk : 0.9409 0.8928 1.7083 1.7083 1.380- 1.350- : 1.440 1.400 : Dry whey : 0.2782 0.3285 0.6004 0.6004 0.335- 0.265- : 0.365 0.295 : : Dollars per cwt Milk Prices 2/ : Class III : 14.05 11.89 18.04 18.04 15.45- 16.15- : 16.15 16.75 : Class IV : 12.87 11.06 18.36 18.36 15.05- 14.95- : 15.85 15.65 : All milk 3/ : 15.13 12.90 19.13 19.13 16.85- 17.30- : 17.55 17.90 : ============================================================================ 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-456-35 Note: Tables on pages 35-37 present a 26-year record of the differences between the March projection and the final estimate. Using world wheat production as an example, changes between the March projection and the final estimate have averaged 2.5 million tons (0.5%) ranging from -8.0 to 6.9 million tons. The March projection has been below the estimate 18 times and above 8 times. Reliability of March Projections =============================================================================== :Differences between proj. & final estimate,1981/82-2006/07 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== WHEAT :Percent Million metric tons Number of years 2/ Production : World : 0.5 2.5 -8.0 6.9 18 8 U.S. : 0.1 0.1 -0.2 0.1 11 6 Foreign : 0.5 2.4 -8.0 6.9 18 8 Exports : World : 2.6 2.9 -9.0 3.5 21 5 U.S. : 2.5 0.8 -1.4 2.4 13 13 Foreign : 3.4 2.9 -7.7 2.5 19 7 Domestic use : World : 0.7 3.8 -9.4 8.1 11 15 U.S. : 2.9 0.9 -2.4 2.4 11 15 Foreign : 0.7 3.6 -7.9 7.6 14 12 Ending stocks : World : 3.4 4.4 -11.4 9.1 18 8 U.S. : 5.8 1.1 -4.4 2.5 14 12 Foreign : 3.6 3.8 -10.2 9.8 17 8 : COARSE GRAINS 3/ : Production : World : 0.9 7.7 -17.3 10.9 21 5 U.S. : 0.0 0.1 -0.2 1.3 11 6 Foreign : 1.3 7.7 -17.3 10.9 21 5 Exports : World : 3.3 3.4 -7.5 9.9 16 10 U.S. : 6.1 3.1 -6.9 9.1 11 15 Foreign : 5.5 3.0 -10.3 6.7 15 11 Domestic use : World : 0.9 7.3 -17.1 24.2 15 11 U.S. : 2.4 4.5 -17.3 11.5 12 14 Foreign : 0.9 5.9 -14.1 17.5 18 8 Ending stocks : World : 7.2 9.9 -28.2 13.9 21 5 U.S. : 9.1 4.9 -13.8 15.3 16 10 Foreign : 8.6 7.0 -27.0 10.5 22 4 : RICE, milled : Production : World : 1.1 3.7 -13.7 3.4 19 7 U.S. : 0.9 0.1 -0.2 0.2 10 4 Foreign : 1.1 3.7 -13.7 3.3 19 7 Exports : World : 6.5 1.2 -4.5 1.2 22 4 U.S. : 5.5 0.2 -0.5 0.3 14 9 Foreign : 7.3 1.2 -4.4 1.1 21 5 Domestic use : World : 0.8 2.8 -9.8 4.8 19 7 U.S. : 5.2 0.1 -0.3 0.4 10 15 Foreign : 0.8 2.8 -10.0 4.6 19 7 Ending stocks : World : 6.5 3.3 -14.9 4.0 17 9 U.S. : 16.6 0.2 -0.4 0.4 14 12 Foreign : 6.8 3.3 -14.5 3.9 17 9 =============================================================================== 1/ Footnotes at end of table. CONTINUED WASDE-456-36 Reliability of March Projections (Continued) =============================================================================== :Differences between proj. & final estimate,1981/82-2006/07 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== SOYBEANS :Percent Million metric tons Number of years 2/ Production : World : 1.8 2.8 -6.4 10.8 15 11 U.S. : 0.9 0.5 -1.6 1.8 10 11 Foreign : 3.0 2.5 -6.4 10.3 16 10 Exports : World : 4.0 1.8 -6.1 9.6 16 9 U.S. : 4.9 1.1 -2.3 3.0 18 8 Foreign : 12.8 1.8 -5.5 9.5 11 15 Domestic use : World : 1.7 2.3 -5.3 11.4 15 11 U.S. : 2.4 1.0 -3.0 2.0 18 7 Foreign : 1.9 1.9 -3.9 12.8 14 12 Ending stocks : World : 11.8 2.9 -6.6 13.9 15 11 U.S. : 21.9 1.7 -2.7 5.4 6 20 Foreign : 12.7 2.3 -6.3 9.7 18 8 : COTTON : Million 480-pound bales Production : World : 1.3 1.2 -5.2 3.0 16 8 U.S. : 0.6 0.1 -0.2 0.3 10 15 Foreign : 1.6 1.2 -5.3 2.9 16 9 Exports : World : 3.2 0.9 -3.1 1.4 12 13 U.S. : 5.0 0.4 -1.2 1.0 10 15 Foreign : 4.0 0.7 -3.6 1.3 15 11 Mill use : World : 1.5 1.3 -6.0 1.3 14 12 U.S. : 3.0 0.2 -0.7 0.6 16 8 Foreign : 2.2 1.6 -5.5 10.0 15 11 Ending stocks : World : 6.8 2.5 -8.4 8.4 16 10 U.S. : 10.7 0.5 -1.2 1.6 9 17 Foreign : 7.6 2.5 -7.8 7.9 17 9 =============================================================================== 1/ Final estimate for 1981/82-2006/07 is defined as the first November estimate following the marketing year. 2/ May not total 26 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. WASDE-456-37 Reliability of United States March Projections 1/ =============================================================================== :Differences between proj. & final estimate,1981/82-2006/07 2/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== CORN :Percent Million bushels Number of years 3/ Production : 0.0 2 -8 38 1 1 Exports : 6.3 111 -254 284 10 16 Domestic use : 2.5 157 -474 424 13 13 Ending stocks : 10.6 191 -552 713 17 9 : SORGHUM : Production : 0.0 0 0 4 0 2 Exports : 11.7 27 -90 72 16 9 Domestic use : 8.4 36 -178 100 11 15 Ending stocks : 29.1 30 -69 148 12 14 : BARLEY : Production : 0.3 1 -3 11 11 4 Exports : 12.3 7 -20 13 8 16 Domestic use : 4.7 17 -30 70 12 12 Ending stocks : 10.0 16 -53 24 16 10 : OATS : Production : 0.1 0 -2 1 4 3 Exports : 17.7 1 -1 3 4 4 Domestic use : 2.8 10 -26 36 13 13 Ending stocks : 9.9 12 -47 21 14 12 : : Thousand short tons SOYBEAN MEAL : Production : 2.3 761 -2328 717 20 6 Exports : 7.4 510 -1750 941 21 5 Domestic use : 1.9 476 -1106 691 19 7 Ending stocks : 29.6 73 -214 208 12 13 : : Million pounds SOYBEAN OIL : Production : 2.3 351 -1173 365 20 6 Exports : 13.9 222 -700 664 14 11 Domestic use : 1.5 206 -685 329 18 8 Ending stocks : 15.4 251 -692 350 16 10 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 2.5 606 -907 1613 17 7 Pork : 2.3 394 -1265 1667 16 8 Broilers : 1.4 321 -605 496 15 9 Turkeys : 2.0 90 -177 161 12 12 : : Million dozen Eggs : 1.2 75 -120 169 16 8 : : Billion pounds Milk : 1.2 1.9 -4.9 5.2 14 10 =============================================================================== 1/ See pages 35 and 36 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-2006/07 is defined as the first November estimate following the marketing year. 3/ May not total 26 for crops and 24 for animal production if projection was the same as the final estimate. 4/ Calendar years 1983 thru 2006 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS. -------------- End of File ------------------