ISSN:1554-9089 WASDE-447 June 11, 2007 Note: Because planting of spring crops is still underway in the Northern Hemisphere and remains several months away in the Southern Hemisphere, these projections are tentative. Variation in area and yields may result from weather developments, economic factors, and policy changes. National Agricultural Statistics Service (NASS) forecasts are used for U.S. winter wheat. For other U.S. crops, the March 30 NASS Prospective Plantings report is used for planted acreage, and methods used to project harvested acreage and yield are noted on each table. WHEAT: U.S. wheat ending stocks for 2007/08 are projected down 26 million bushels this month as lower production and higher projected exports more than offset a small increase in forecast carryin. Forecast winter wheat production is lowered 6 million bushels this month. Carryin is forecast 5 million bushels higher this month as a 5-million-bushel increase in 2006/07 imports raises old- crop ending stocks. Exports for 2007/08 are projected 25 million bushels higher reflecting stronger expected demand for U.S. wheat as production shortfalls in key exporting countries lower world supplies. The 2007/08 marketing year average farm price is projected at $4.50 to $5.10 per bushel, up 15 cents per bushel on each end of the range reflecting tighter world supplies. The 2006/07 price forecast is unchanged at $4.27 per bushel. Global 2007/08 wheat production is lowered 6.7 million tons from last month. FSU-12 output is projected 7.3 million tons lower as dry weather and heat in Ukraine and Russia sharply reduce crop prospects. The most adverse conditions coincided with key reproductive stages of winter wheat development in both countries. Production for Moldova is also lowered. Production is lowered 0.6 million tons this month for Morocco as severe drought sharply reduced winter wheat output. Partly offsetting these reductions is an increase in Argentina production, raised 1.2 million tons reflecting higher expected area as producers respond to high world prices. With reduced 2007/08 global production and tighter supplies this month, global imports, exports, and consumption are all projected lower. The largest import reduction is projected for EU-27, down 1 million tons due to tighter FSU-12 supplies. The largest export declines are projected for Russia and Ukraine, down 2 and 3 million tons, respectively. A projected 1-million-ton increase in exports for Argentina still leaves world exports down 2.9 million tons this month. Even with a projected 3.8-million-ton reduction in global consumption, ending stocks decline 1.3 million tons. At 112.0 million tons, global stocks are projected down 8 percent from 2006/07, the lowest in 30 years. COARSE GRAINS: The outlook for 2007/08 U.S. feed grains is little changed this month, with no changes to production or use and increases in ending stocks reflecting higher projected corn and barley carryin from the current marketing year. The 2007 projected corn yield is unchanged this month at 150.3 bushels per acre. Despite the very fast catch-up of planting during the second week of May, progress through the first week of May was the second slowest in the past 10 years. Early growing season weather remains mixed. Corn ending stocks for 2007/08 are projected at 997 million bushels, up 50 million bushels from last month. Barley ending stocks are projected 5 million bushels higher. The 2007/08 forecast price ranges for corn and the other feed grains are unchanged with the marketing year average corn price projected at $3.10 to $3.70 per bushel. Forecast U.S. corn exports for 2006/07 are lowered 50 million bushels reflecting the slowing pace of shipments in recent weeks and more expected competition from larger supplies in Argentina. U.S. corn ending stocks for 2006/07 are correspondingly raised 50 million bushels. Barley imports are raised 1 million bushels and exports are lowered 4 million bushels leaving projected barley ending stocks up 5 million bushels. The 2006/07 corn price projection is lowered 10 cents on the top end of the range to $3.00 to $3.10 per bushel. The projected sorghum price range is tightened 5 cents on both ends to $3.25 to $3.35 per bushel. Global 2007/08 coarse grain production is nearly unchanged this month with higher barley and corn production in the EU-27 nearly offsetting the reduction in Ukraine coarse grain output. EU-27 barley production is raised 1.3 million tons reflecting higher expected production in Spain. Ukraine barley production is lowered 2 million tons as persistent dryness and heat are affecting winter and spring barley prospects. World 2007/08 corn production is raised 1.5 million tons mostly due to higher expected production in EU-27 and Ukraine. Higher Ukraine corn production reflects an increase in reported plantings. Coarse grain exports are lowered 1.4 million tons with a 2- million-ton reduction for Ukraine barley exports partly offset by increased barley exports for EU-27, Australia, and Argentina. Coarse grain imports are lowered with barley imports for Saudi Arabia projected down 0.5 million tons. With global coarse grain consumption lowered slightly, global coarse grain ending stocks are projected 1.7 million tons higher, mostly reflecting the increase in corn stocks in the United States. Changes this month for 2006/07 global coarse grains include increased South American production and adjustments in world exports. Corn production is raised 0.5 million tons each for Argentina and Brazil. Production in Argentina is raised to 22.5 million tons based on higher yields that more than offset a reduction in harvested area. Production in Brazil is projected at 50 million tons reflecting higher summer yields and increased winter corn area. Corn exports are raised 1 million tons for Argentina and 0.2 million tons for EU-27, nearly offsetting this month's 1.3-million-ton reduction in 2006/07 U.S. corn exports. RICE: U.S. rice supplies in 2007/08 are raised 5 million cwt from a month ago owing to an increase in beginning stocks and imports. Beginning stocks are raised 4.5 million cwt to nearly 42 million cwt, down about 1 million cwt from the year earlier. Imports are raised 0.5 million cwt to a record 21.5 million cwt, up 0.5 million cwt from revised 2006/07. Total use in 2007/08 is raised 3 million cwt, due entirely to increased exports. Exports are projected at 96 million cwt, with long-grain exports raised 2 million cwt and combined medium- and short-grain exports up 1 million cwt. The 2006/07 export estimate is lowered 4 million cwt to 93 million, and the import estimate is raised 0.5 million. The season-average farm price for 2007/08 is projected at $10.00 to $10.50 per cwt, down 25 cents per cwt on each end from a month ago and compares to a revised $9.75 per cwt for 2006/07. Global 2007/08 rice production, imports, exports, and consumption are increased slightly from last month while ending stocks are lowered fractionally. Ending stocks are projected at 71.8 million tons, down 3.7 million tons from last year. OILSEEDS: This month's 2007/08 U.S. oilseed supply and use projections include slight reductions in beginning and ending stocks. Soybean production, trade, and ending stocks projections are all unchanged. Soybean ending stocks for 2007/08 are projected at 320 million bushels, down almost 50 percent from 2006/07. Other changes this month include reduced soybean oil used for biodiesel for 2006/07 and 2007/08 as returns to biodiesel production become less favorable due to higher vegetable oil prices. The U.S. season-average soybean price for 2007/08 is projected at $6.65 to $7.65 per bushel, up 15 cents on both ends of the range. The increase reflects higher-than- expected forward pricing opportunities in recent weeks, in part due to stronger soybean oil prices. Soybean meal prices for 2007/08 are projected at $185 to $215 per short ton, unchanged from last month. Soybean oil prices are projected at 30.5 to 34.5 cents per pound, up 1 cent on both ends of the range. Global oilseed production for 2007/08 is projected at 399 million tons, down 5.4 million tons from 2006/07. If realized, this would be the first year-to-year decline in global oilseed production since 1995/96. Foreign oilseed production is projected at 315 million tons, up 7 million tons from 2006/07. Global soybean production is projected to decrease 10 million tons to 225 million tons. Most of the reduction is due to lower production prospects in the United States as producers reduced planted area sharply from 2006/07. Higher soybean production is projected for both Brazil and Argentina as increased area in both countries more than offsets reduced yields. Higher area is projected for Argentina despite increased corn planting as producers increase second crop soybean production and continue to expand plantings on to pasture land. The Brazil crop is projected at 61 million tons, up 2 million from the revised estimate for 2006/07. The Argentina crop is projected at 47 million tons, up 0.5 million from the revised 2006/07 crop. If realized, production in both countries once again will be record high. Global production of high-oil-content seed is up 5 percent from 2006/07 reflecting sharp increases in rapeseed production. Rapeseed production is projected sharply higher in EU-27 as producers respond to higher prices resulting from demand for biodiesel. Production is also projected higher for Canada, India, and Australia. Lower global sunflowerseed production is mainly due to smaller crops projected for EU-27 and Ukraine. Soybean, rapeseed, and peanut production are each projected lower for China for 2007/08. Global protein meal consumption is projected to increase 3.9 percent in 2007/08, the smallest annual increase in 4 years. Most of the gains are projected for soybean meal despite reduced production prospects for soybeans. Protein meal consumption is projected to increase 5 percent in China, which accounts for 28 percent of global protein consumption gains. World soybean trade is projected to reach a record 75.5 million tons, up 5.5 million tons from 2006/07. China is projected to account for over 80 percent of the increase, reaching a record 34.5 million tons of imports. Although protein consumption gains are projected lower than in recent years for China, imports will be needed to offset reduced oilseed production. Global vegetable oil consumption is projected to increase 4.1 percent in 2007/08 led by increases for China, India, and EU-27. Increased consumption in EU-27 mostly reflects increased production of biodiesel. Global vegetable oil stocks are projected to decline 6 percent from 2006/07. SUGAR: Projected 2007/08 U.S. sugar supply is increased 77,000 short tons, raw value, from last month, mainly due to higher non-program imports from Mexico. The 100,000-ton increase in non-program imports is based on reports of a stronger-than-expected finish for Mexico's 2006/07 sugarcane harvest and increased use of corn-based sweeteners in Mexico. Beginning stocks are lowered 23,000 tons based on minor adjustments in 2006/07 supply and use. Sugar use for 2007/08 is unchanged. LIVESTOCK, POULTRY, AND DAIRY: The forecast for total U.S. meat production in 2007 is raised fractionally from last month reflecting small increases in pork and broiler output. Pork production for the second quarter is raised as heavier-than-expected average carcass weights more than offset a slight expected decline in hog slaughter. Broiler production for the second quarter is forecast higher because of increased egg sets and chick placements. The annual beef production forecast is unchanged but the recent slow pace of feedlot marketings results in a shift in steer and heifer slaughter and beef production from the second to third quarter. Meat production forecasts for 2008 are unchanged from last month. Beef export forecasts are raised for both 2007 and 2008. The broiler export forecast for 2007 is reduced from last month. Cattle, broiler, and turkey prices for 2007 are raised this month. Relatively tight supplies of meat continue to support prices at higher than expected levels. Hog prices are reduced slightly from last month reflecting current price information. The forecast of egg prices is reduced slightly for both 2007 and 2008. Strong demand for dairy products and limited ability to adjust production in the short term has resulted in significantly higher price forecasts this month. Milk production forecasts for both 2007 and 2008 are raised from last month but relatively high feed costs are expected to limit growth into 2008. Cow numbers are forecast higher than last month, with the cow herd in 2007 averaging about the same as 2006, and expanding in 2008. Output per cow is forecast to continue to increase modestly in both 2007 and 2008. However, in the face of continued strong demand for dairy products and expected tightness in international supplies, most product prices for 2007 and 2008 are forecast higher than last month. Forecast nonfat dry milk prices are increased significantly, which coupled with higher forecast butter prices, support a stronger Class IV price forecast. Although cheese prices are also forecast higher, a reduced forecast for whey prices limits the increase in the Class III price forecast for both 2007 and 2008. With strong Class prices, the forecast for all milk is also raised. In 2007, the all milk price is forecast to average a record $18.55 to $18.95 per cwt, and then decline to $17.90 to $18.90 per cwt in 2008. COTTON: This month's 2007/08 U.S. cotton projections include slight increases in beginning and ending stocks. Beginning stocks are raised as a result of a lower export forecast for 2006/07. Forecasts of production, domestic mill use, and exports for 2007/08 are unchanged from last month. Ending stocks are now projected at 6.7 million bales, a 32-percent reduction from the beginning level. The 2007/08 world projections include the first individual country estimates for foreign countries outside China. These projections show beginning stocks about 1.0 million bales above last month. Beginning stocks are raised in Pakistan due to historical revisions in production, but are lowered in China due to a reduction in imports for 2006/07. World production in 2007/08 is virtually unchanged, and higher world consumption partially offsets the larger beginning stocks. Accordingly, ending stocks are raised about 0.5 million bales from last month's estimate. Approved by the Secretary of Agriculture and the World Agricultural Outlook Board, Gerald A. Bange, Chairperson, (202) 720-6030. This report was prepared by the Interagency Commodity Estimates Committees. APPROVED BY: KEITH J. COLLINS ACTING SECRETARY OF AGRICULTURE For questions about the WASDE report, call (202) 720-5447. RELATED USDA REPORTS The WASDE report incorporates information from a number of statistical reports published by USDA and other government agencies. In turn, the WASDE report provides a framework for more detailed reports issued by USDA Economic Research Service and Foreign Agricultural Service. See http://www.usda.gov/oce/waob/related.htm for an explanation of related reports. SUPPLY AND DEMAND DATABASE The Foreign Agricultural Service publishes Production, Supply, and Demand Online, a comprehensive database of supply and demand balances by commodity for 190 countries and regions at http://www.fas.usda.gov/psd/. Data for grains, oilseeds, and cotton are updated monthly and data for other commodities are updated less frequently. Data series go back to 1960/61 for many commodities. Users can download pre-defined tables, create custom queries, and import data into their own spreadsheets. SUBSCRIPTIONS Mail subscriptions cost $60.00; 2- and 3-year subscriptions are available. Call 1-800-999-6779 or 703-605-6220, 8:30 a.m.-5:00 pm. ET, or write ERS-NASS, 5285 Port Royal Road, Springfield, Virginia 22161. Subscriptions are also available from the Superintendent of Documents, U.S. Government Printing Office. Internet: http://bookstore.gpo.gov. Phone: toll free (866) 512-1800; DC area (202) 512-1800. Fax: (202) 512-2250. Mail: Government Printing Office, Stop SSOP, Washington, D.C. 20402-0001. ELECTRONIC ACCESS This report and other USDA releases are posted electronically in either ascii text format or pdf (Adobe Acrobat) format at http://usda.mannlib.cornell.edu/. Acrobat files can be viewed or printed in their original form, page by page. Click on the "Reports by E-Mail" button to sign up for e-mail delivery of the WASDE and other USDA releases in text format. An electronic calendar of USDA release dates is posted at: http://www.usda.gov/news/releases/rptcal/calindex.htm. WASDE-447-8 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 : 2,018.91 2,423.04 253.07 2,033.39 389.64 2006/07 (Est.) : 1,986.70 2,376.34 245.61 2,053.59 322.75 2007/08 (Proj.) : May : 2,094.23 2,414.02 247.22 2,108.94 305.08 June : 2,087.40 2,410.15 243.06 2,104.83 305.32 Wheat : 2005/06 : 622.27 773.48 115.61 624.49 148.99 2006/07 (Est.) : 594.09 743.08 106.51 621.13 121.95 2007/08 (Proj.) : May : 616.87 737.23 110.29 623.87 113.36 June : 610.15 732.10 107.42 620.07 112.03 Coarse grains 4/ : 2005/06 : 978.64 1,156.55 107.38 993.13 163.42 2006/07 (Est.) : 976.04 1,139.46 109.50 1,014.08 125.38 2007/08 (Proj.) : May : 1,056.60 1,180.38 107.19 1,060.59 119.79 June : 1,056.36 1,181.74 105.79 1,060.21 121.53 Rice, milled : 2005/06 : 418.00 493.01 30.08 415.77 77.23 2006/07 (Est.) : 416.56 493.80 29.61 418.38 75.42 2007/08 (Proj.) : May : 420.75 496.41 29.73 424.48 71.93 June : 420.88 496.31 29.85 424.55 71.76 : : United States Total grains 3/ : 2005/06 : 363.16 442.69 91.28 279.73 71.68 2006/07 (Est.) : 335.67 413.71 86.42 286.10 41.20 2007/08 (Proj.) : May : 397.53 443.21 84.21 317.99 41.01 June : 397.36 444.72 84.98 317.99 41.75 Wheat : 2005/06 : 57.28 74.20 27.47 31.19 15.55 2006/07 (Est.) : 49.32 68.13 24.77 32.03 11.34 2007/08 (Proj.) : May : 59.16 73.08 26.54 33.78 12.77 June : 59.00 73.05 27.22 33.78 12.06 Coarse grains 4/ : 2005/06 : 298.76 359.62 60.13 244.73 54.77 2006/07 (Est.) : 280.11 337.31 58.66 250.14 28.51 2007/08 (Proj.) : May : 332.52 362.40 54.70 280.22 27.48 June : 332.52 363.78 54.70 280.22 28.86 Rice, milled : 2005/06 : 7.11 8.87 3.69 3.81 1.37 2006/07 (Est.) : 6.24 8.28 3.00 3.93 1.35 2007/08 (Proj.) : May : 5.85 7.72 2.97 3.99 0.76 June : 5.85 7.88 3.07 3.99 0.82 =============================================================================== 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-447-9 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 : 1,655.76 1,980.35 161.79 1,753.67 317.96 2006/07 (Est.) : 1,651.03 1,962.63 159.20 1,767.49 281.56 2007/08 (Proj.) : May : 1,696.70 1,970.82 163.01 1,790.95 264.07 June : 1,690.03 1,965.43 158.08 1,786.84 263.57 Wheat : 2005/06 : 564.99 699.28 88.14 593.30 133.45 2006/07 (Est.) : 544.78 674.96 81.74 589.11 110.61 2007/08 (Proj.) : May : 557.71 664.15 83.76 590.09 100.60 June : 551.16 659.05 80.21 586.30 99.97 Coarse grains 5/ : 2005/06 : 679.88 796.93 47.25 748.41 108.65 2006/07 (Est.) : 695.93 802.15 50.84 763.94 96.87 2007/08 (Proj.) : May : 724.09 817.98 52.50 780.37 92.31 June : 723.84 817.96 51.10 779.99 92.67 Rice, milled : 2005/06 : 410.89 484.14 26.39 411.96 75.86 2006/07 (Est.) : 410.33 485.52 26.61 414.44 74.08 2007/08 (Proj.) : May : 414.90 488.68 26.76 420.49 71.17 June : 415.03 488.42 26.78 420.55 70.94 =============================================================================== 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 : 114.31 169.41 44.61 116.16 56.64 2006/07 (Est.) : 116.71 173.35 37.09 122.54 56.39 2007/08 (Proj.) : May : 116.00 171.41 42.00 127.00 50.71 June : 115.89 172.27 41.58 127.41 51.23 : United States 2005/06 : 23.89 29.41 18.04 5.87 6.05 2006/07 (Est.) : 21.59 27.65 13.00 4.90 9.80 2007/08 (Proj.) : May : 18.80 28.32 17.50 4.40 6.40 June : 18.80 28.62 17.50 4.40 6.70 : Foreign 3/ 2005/06 : 90.42 139.99 26.57 110.29 50.59 2006/07 (Est.) : 95.12 145.70 24.09 117.64 46.59 2007/08 (Proj.) : May : 97.20 143.09 24.50 122.60 44.31 June : 97.09 143.66 24.08 123.01 44.53 =============================================================================== 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-447-10 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 : 390.46 447.26 76.40 317.78 64.41 2006/07 (Est.) : 404.33 468.74 82.45 329.92 71.31 2007/08 (Proj.) : May : 399.00 467.34 June : 398.97 470.28 88.31 342.48 60.76 Oilmeals : 2005/06 : 215.36 223.04 65.22 214.69 6.89 2006/07 (Est.) : 225.00 231.89 67.89 223.32 6.63 2007/08 (Proj.) : May : June : 234.44 241.07 71.39 232.12 6.96 Vegetable Oils : 2005/06 : 117.81 127.37 46.49 115.22 9.58 2006/07 (Est.) : 121.67 131.25 48.22 121.24 8.32 2007/08 (Proj.) : May : June : 126.87 135.19 48.83 126.21 7.80 : : United States Oilseeds : 2005/06 : 95.53 104.49 26.81 51.90 14.20 2006/07 (Est.) : 96.62 111.74 30.64 52.57 17.97 2007/08 (Proj.) : May : 84.05 103.05 30.30 52.96 9.81 June : 84.05 102.93 30.26 52.96 9.77 Oilmeals : 2005/06 : 39.98 41.85 7.63 33.86 0.36 2006/07 (Est.) : 40.56 42.63 7.86 34.43 0.33 2007/08 (Proj.) : May : 41.09 43.21 7.92 34.95 0.33 June : 41.08 43.20 7.91 34.96 0.33 Vegetable Oils : 2005/06 : 10.41 13.89 0.90 11.19 1.80 2006/07 (Est.) : 10.26 14.50 1.11 11.70 1.68 2007/08 (Proj.) : May : 10.35 14.56 1.09 12.13 1.34 June : 10.35 14.62 1.08 12.24 1.29 : : Foreign 3/ Oilseeds : 2005/06 : 294.93 342.77 49.59 265.88 50.21 2006/07 (Est.) : 307.71 357.01 51.81 277.35 53.34 2007/08 (Proj.) : May : 314.95 364.29 June : 314.92 367.35 58.05 289.52 50.98 Oilmeals : 2005/06 : 175.38 181.19 57.59 180.83 6.53 2006/07 (Est.) : 184.45 189.27 60.03 188.89 6.30 2007/08 (Proj.) : May : June : 193.37 197.87 63.48 197.16 6.63 Vegetable Oils : 2005/06 : 107.40 113.48 45.60 104.03 7.78 2006/07 (Est.) : 111.41 116.75 47.11 109.54 6.64 2007/08 (Proj.) : May : June : 116.52 120.58 47.75 113.97 6.51 =============================================================================== 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-447-11 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : May June =============================================================================== Area : Million acres Planted : 57.2 57.3 60.3 * 60.3 * Harvested : 50.1 46.8 52.1 * 52.2 * Yield per harvested : Bushels acre : 42.0 38.7 41.7 * 41.5 * : Million bushels Beginning stocks : 540 571 412 417 Production : 2,105 1,812 2,174 2,168 Imports : 82 120 100 100 Supply, total : 2,727 2,503 2,685 2,684 Food : 914 925 930 930 Seed : 78 82 81 81 Feed and residual : 154 170 230 230 Domestic, total : 1,146 1,177 1,241 1,241 Exports : 1,009 910 975 1,000 Use, total : 2,155 2,087 2,216 2,241 Ending stocks : 571 417 469 443 CCC inventory : 43 41 Free stocks : 528 376 Outstanding loans : 42 14 Avg. farm price ($/bu) 2/ : 3.42 4.27 4.35- 4.95 4.50- 5.10 =============================================================================== 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/ : 898 613 516 342 134 2,503 Domestic use : 481 239 282 96 78 1,177 Exports : 280 250 145 200 35 910 Use, total : 761 489 427 296 113 2,087 Ending stocks Jun : 137 124 89 46 21 417 May : 137 119 89 46 21 412 =============================================================================== 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. * For May, planted acres reported in March 30, 2007, Prospective Plantings. Harvested acres and yield for other spring wheat and durum are projected using 10-year harvested-to-planted ratios by state and projected yield derived from 1985-2006 trend yields by state (except Idaho durum). For June, winter wheat harvested acreage and yield reported in the June 11, 2007, Crop Production. ****************************************************************************** * * * * * Wheat-by-class projections for 2007/08 will first be published * * in the July 12, 2007, WASDE. * * * * * ****************************************************************************** WASDE-447-12 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : May June =============================================================================== FEED GRAINS : Area : Million acres Planted : 96.4 92.5 105.3 * 105.3 * Harvested : 85.9 80.1 93.8 * 93.8 * Yield per harvested : Metric tons acre : 3.47 3.49 3.54 3.54 : Million metric tons Beginning stocks : 58.8 54.7 27.1 28.5 Production : 298.6 279.9 332.3 332.3 Imports : 1.9 2.3 2.6 2.6 Supply, total : 359.3 337.0 362.1 363.4 Feed and residual : 162.9 154.7 152.1 152.1 Food, seed & industrial : 81.5 95.1 127.8 127.8 Domestic, total : 244.4 249.8 279.9 279.9 Exports : 60.1 58.7 54.7 54.7 Use, total : 304.5 308.5 334.6 334.6 Ending stocks, total : 54.7 28.5 27.5 28.8 CCC inventory : 0.0 0.0 Free stocks : 54.7 28.5 Outstanding loans : 4.4 5.8 : CORN : Area : Million acres Planted : 81.8 78.3 90.5 * 90.5 * Harvested : 75.1 70.6 82.9 * 82.9 * Yield per harvested : Bushels acre : 148.0 149.1 150.3 * 150.3 * : Million bushels Beginning stocks : 2,114 1,967 937 987 Production : 11,114 10,535 12,460 12,460 Imports : 9 10 15 15 Supply, total : 13,237 12,512 13,412 13,462 Feed and residual : 6,141 5,850 5,700 5,700 Food, seed & industrial : 2,981 3,525 4,790 4,790 Ethanol for fuel 2/ : 1,603 2,150 3,400 3,400 Domestic, total : 9,122 9,375 10,490 10,490 Exports : 2,147 2,150 1,975 1,975 Use, total : 11,270 11,525 12,465 12,465 Ending stocks, total : 1,967 987 947 997 CCC inventory : 0 0 Free stocks : 1,967 987 Outstanding loans : 171 225 Avg. farm price ($/bu) 3/ : 2.00 3.00- 3.10 3.10- 3.70 3.10- 3.70 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a further breakout of corn use including fuel alcohol see the ERS Feed Outlook table 5, or food grains database at www.ers.usda.gov/db/feedgrains. * For May and June, planted acres reported in the March 30, 2007, Prospective Plantings. For corn, harvested acres projected based on historical abandonment and derived demand for silage. Projected corn yield derived from an econometric model fit over 1990-2006 using a trend variable, July rainfall and temperatures, and planting progress as of mid-May adjusted for the slow start to this year's planting. WASDE-447-13 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : May June =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 6.5 6.5 7.1 * 7.1 * Area harv. (mil. acres) : 5.7 4.9 5.9 * 5.9 * Yield (bushels/acre) : 68.5 56.2 63.9 * 63.9 * Beginning stocks : 57 66 48 48 Production : 393 278 380 380 Imports : 0 0 0 0 Supply, total : 450 343 428 428 Feed and residual : 140 110 160 160 Food, seed & industrial : 50 45 65 65 Total domestic : 190 155 225 225 Exports : 195 140 160 160 Use, total : 384 295 385 385 Ending stocks, total : 66 48 43 43 Avg. farm price ($/bu) 2/ : 1.86 3.25- 3.35 2.70- 3.30 2.70- 3.30 : BARLEY : Area planted (mil. acres) : 3.9 3.5 3.7 * 3.7 * Area harv. (mil. acres) : 3.3 3.0 3.2 * 3.2 * Yield (bushels/acre) : 64.8 61.0 65.4 * 65.4 * Beginning stocks : 128 108 63 68 Production : 212 180 210 210 Imports : 5 11 20 20 Supply, total : 346 299 293 298 Feed and residual : 52 55 50 50 Food, seed & industrial : 158 155 155 155 Total domestic : 210 210 205 205 Exports : 28 21 20 20 Use, total : 238 231 225 225 Ending stocks, total : 108 68 68 73 Avg. farm price ($/bu) 2/ : 2.53 2.88 2.85- 3.45 2.85- 3.45 : OATS : Area planted (mil. acres) : 4.2 4.2 4.0 * 4.0 * Area harv. (mil. acres) : 1.8 1.6 1.7 * 1.7 * Yield (bushels/acre) : 63.0 59.5 63.2 * 63.2 * Beginning stocks : 58 53 49 49 Production : 115 94 110 110 Imports : 91 105 105 105 Supply, total : 264 251 264 264 Feed and residual : 136 125 130 130 Food, seed & industrial : 74 75 75 75 Total domestic : 209 200 205 205 Exports : 2 2 2 2 Use, total : 211 202 207 207 Ending stocks, total : 53 49 57 57 Avg. farm price ($/bu) 2/ : 1.63 1.85 1.90- 2.50 1.90- 2.50 =============================================================================== 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. * Planted acres reported in the March 30, 2007, Prospective Plantings. Harvested area - For sorghum, barley, and oats harvested acres is the four-year average harvested-to-planted ratio, 2003-2006. Yield - For sorghum the projected yield is derived from the 10-year average yield (1996-2006, excluding 2002) adjusted for rounding in production. For barley and oats the projected yield is derived from the 1960-2006 trend yield adjusted for rounding in production. WASDE-447-14 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : May June =============================================================================== TOTAL : Area : Million acres Planted : 3.38 2.84 2.64 * 2.64 * Harvested : 3.36 2.82 2.63 * 2.63 * Yield per harvested : Pounds acre : 6,636 6,868 6,966 * 6,966 * : : Million hundredweight : Beginning stocks 2/ : 37.7 43.0 37.4 41.9 Production : 223.2 193.7 183.0 183.0 Imports : 17.1 21.0 21.0 21.5 Supply, total : 278.1 257.7 241.4 246.4 Domestic & residual 3/ : 119.3 122.8 124.7 124.7 Exports, total 4/ : 115.8 93.0 93.0 96.0 Rough : 34.1 33.5 34.0 34.0 Milled (rough equiv.) : 81.6 59.5 59.0 62.0 Use, total : 235.1 215.8 217.7 220.7 Ending stocks : 43.0 41.9 23.7 25.7 Avg. milling yield (%) 5/ : 70.2 71.0 70.5 70.5 Avg. farm price ($/cwt) 6/ : 7.65 9.75 10.25-10.75 10.00-10.50 : LONG GRAIN : Harvested acres (mil.) : 2.73 2.19 Yield (pounds/acre) : 6,493 6,689 Beginning stocks : 22.7 32.7 27.6 29.1 Production : 177.5 146.2 134.0 134.0 Supply, total 7/ : 212.5 193.4 176.6 178.1 Domestic & Residual 3/ : 86.9 89.8 89.0 89.0 Exports 8/ : 93.0 74.5 71.0 73.0 Use, total : 179.9 164.3 160.0 162.0 Ending stocks : 32.7 29.1 16.6 16.1 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.63 0.64 Yield (pounds/acre) : 7,255 7,484 Beginning stocks : 13.8 9.4 8.9 11.9 Production : 45.7 47.5 49.0 49.0 Supply, total 7/ : 64.7 63.5 63.9 67.4 Domestic & Residual 3/ : 32.5 33.1 35.7 35.7 Exports 8/ : 22.8 18.5 22.0 23.0 Use, total : 55.2 51.6 57.7 58.7 Ending stocks : 9.4 11.9 6.2 8.7 =============================================================================== 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; 2007/08-0.9. 3/ Residual includes unreported use, processing losses, and estimating errors. Use by type may not add to total rice use because of the difference in brokens between beginning and ending stocks. 4/ Includes rough rice and milled rice exports. Milled rice exports are converted to an equivalent rough basis. 5/ Expressed as a percent, i.e., the total quantity of whole kernel and broken rice produced divided by the quantity of rough rice milled. 6/ Marketing-year weighted average price received by farmers. 7/ Includes imports. 8/ Exports by type of rice are estimated. * Planted acres reported in March 30, 2007 "Prospective Plantings". Harvested acres are estimated using the average harvested-to-planted ratios by State and rice class, 2004-2006. Projected yield is derived from the trend yields by rice class for the period, 1990-2006. A slight downward adjustment is made to the long grain trend yield due to the loss of two important varieties because of the GMO problem in 2006-2007 (Cheniere and Clearfield 131). WASDE-447-15 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :=============================== : : Est. : May June =============================================================================== SOYBEANS: : Million acres Area : Planted : 72.0 75.5 67.1 * 67.1 * Harvested : 71.3 74.6 66.1 * 66.1 * : : Bushels Yield per harvested : acre : 43.0 42.7 41.5 * 41.5 * : : Million bushels : Beginning stocks : 256 449 610 610 Production : 3,063 3,188 2,745 2,745 Imports : 3 4 4 4 Supply, total : 3,322 3,642 3,359 3,359 Crushings : 1,739 1,770 1,790 1,790 Exports : 947 1,080 1,080 1,080 Seed : 93 83 85 85 Residual : 94 99 _3/ 84 84 Use, total : 2,873 3,032 3,039 3,039 Ending stocks : 449 610 320 320 Avg. farm price ($/bu) 2/ : 5.66 6.30 6.50- 7.50 6.65 - 7.65 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,699 3,019 2,954 2,934 Production : 20,393 20,035 20,315 20,315 Imports : 35 30 35 35 Supply, total : 22,127 23,084 23,304 23,284 Domestic : 17,955 18,700 19,700 19,700 For methyl ester 4/ : 1,557 2,400 3,800 3,500 Exports : 1,153 1,450 1,425 1,400 Use, total : 19,108 20,150 21,125 21,100 Ending stocks : 3,019 2,934 2,179 2,184 Average price (c/lb) 2/ : 23.41 30.50 29.50- 30.50- : 33.50 34.50 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 172 314 300 300 Production : 41,242 41,921 42,585 42,585 Imports : 141 165 165 165 Supply, total : 41,555 42,400 43,050 43,050 Domestic : 33,176 33,750 34,350 34,350 Exports : 8,064 8,350 8,400 8,400 Use, total : 41,241 42,100 42,750 42,750 Ending stocks : 314 300 300 300 Average price ($/s.t.) 2/ : 174.17 200.00 185.00- 185.00- : 215.00 215.00 =============================================================================== Note: Reliability calculations at end of report. 1/ Marketing year beginning September 1 for soybeans; October 1 for soybean oil and meal. 2/ Prices: soybeans, marketing year weighted average price received by farmers; for oil, simple average of crude soybean oil, Decatur; for meal, simple average of 48 percent, Decatur. 3/ Supply estimates and reported use through March 1, coupled with USDA's March 1 stocks estimate, indicate an above-average residual. 4/ Soybean oil used for methyl ester for production of biodeisel, as reported by the U.S. Department of Commerce. *Planted acres are reported in March 30 Prospective Plantings. Harvested acres based on 5-year average planted to harvested ratios by state. Projected yield based on 1989-2006 regional trend analysis. WASDE-447-16 U.S. Sugar Supply and Use 1/ ===================================================================== : : : 2007/08 Projection Item : 2005/06 : 2006/07 :==================== : : Est. : May June ===================================================================== : 1,000 short tons, raw value : Beginning stocks : 1,332 1,698 1,716 1,693 Production 2/ : 7,399 8,486 8,255 8,255 Beet sugar : 4,444 4,998 4,520 4,520 Cane sugar : 2,955 3,488 3,735 3,735 Florida : 1,367 1,713 1,870 1,870 Hawaii : 223 255 229 229 Louisiana : 1,190 1,335 1,430 1,430 Texas : 175 185 206 206 Imports : 3,443 2,034 1,789 1,889 TRQ 3/ : 2,588 1,574 1,284 1,284 Other program 4/ : 349 400 425 425 Other 5/ : 506 60 80 180 Mexico : 420 50 75 175 Total supply : 12,174 12,218 11,760 11,837 : Exports : 203 375 250 250 Deliveries : 10,341 10,150 10,170 10,170 Food : 10,184 9,950 10,000 10,000 Other 6/ : 157 200 170 170 Miscellaneous 7/ : -68 0 0 0 Total use : 10,476 10,525 10,420 10,420 Ending stocks : 1,698 1,693 1,340 1,417 : Stocks to use ratio : 16.2 16.1 12.9 13.6 ====================================================================== 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 based on March 31 Prospective Plantings and trend yields. 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 only U.S. commitments under current trade agreements, minus shortfall of 70,000 tons. The Secretary will establish the actual level of the TRQ at a later date. 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 (0) and other (10). For 2007/08, other high-tier (0) and other (5). 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-447-17 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :=============================== : : Est. : May June =============================================================================== : Million acres Area : Planted : 14.25 15.27 12.15 * 12.15 * Harvested : 13.80 12.73 11.00 * 11.00 * : : Pounds Yield per harvested : acre : 831 814 820 * 820 * : : Million 480 pound bales : Beginning stocks 2/ : 5.50 6.05 9.50 9.80 Production : 23.89 21.59 18.80 18.80 Imports : 0.03 0.02 0.02 0.02 Supply, total : 29.41 27.65 28.32 28.62 Domestic use : 5.87 4.90 4.40 4.40 Exports : 18.04 13.00 17.50 17.50 Use, total : 23.91 17.90 21.90 21.90 Unaccounted 3/ : -0.55 -0.05 0.02 0.02 Ending stocks : 6.05 9.80 6.40 6.70 : Avg. farm price 4/ : 47.7 47.7 5/ 5/ =============================================================================== Note: Reliability calculations at end of report. 1/ Upland and extra-long staple; marketing year beginning August 1. Totals may not add due to rounding. 2/ Based on Bureau of Census data. 3/ Reflects the difference between the previous season's supply less total use and ending stocks based on Bureau of Census data. 4/ Cents per pound. The 2006/07 price is a weighted average price for upland cotton for August-April. 5/ USDA is prohibited by law from publishing cotton price projections. * Planted area reported in March 31 "Prospective Plantings." Projected harvested area based on 1997-2006 average abandonment by State. Projected yield per harvested acre based on 2004-2006 average yields by State. Note: Public Law 106-78, signed October 22, 1999, requires the Secretary of Agriculture to estimate and report the U.S. upland cotton season-ending stocks-to-use ratio, excluding projected raw cotton imports but including the quantity of raw cotton imports that has been imported during the marketing year. Pursuant to this requirement, the estimated ratio for 2006/07 is 56.4 percent. WASDE-447-18 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/ : 151.21 622.27 109.73 111.74 624.49 115.61 148.99 United States : 14.70 57.28 2.22 4.19 31.19 27.47 15.55 Total foreign : 136.51 564.99 107.50 107.55 593.30 88.14 133.45 Major exporters 4/ : 43.06 198.63 7.12 71.72 148.09 57.37 43.35 Argentina : 0.55 14.50 0.01 0.08 5.00 9.56 0.50 Australia : 7.09 25.00 0.08 3.70 6.40 16.01 9.76 Canada : 7.92 26.78 0.28 4.97 9.17 16.10 9.71 EU-27 5/ : 27.49 132.36 6.76 62.98 127.53 15.69 23.38 Major importers 6/ : 61.79 162.78 58.77 8.40 218.96 4.42 59.96 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/ : 5.26 19.77 12.18 1.95 30.02 0.60 6.58 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 : 14.05 91.93 4.73 23.11 75.23 20.31 15.17 Russia : 3.89 47.70 1.28 14.90 38.40 10.66 3.81 Kazakhstan : 3.64 11.00 0.04 2.70 7.40 3.00 4.28 Ukraine : 2.61 18.70 0.07 2.90 12.50 6.46 2.41 : : 2006/07 (Estimated) : World 3/ : 148.99 594.09 107.58 109.16 621.13 106.51 121.95 United States : 15.55 49.32 3.27 4.63 32.03 24.77 11.34 Total foreign : 133.45 544.78 104.32 104.53 589.11 81.74 110.61 Major exporters 4/ : 43.35 176.77 5.86 71.58 148.75 52.20 25.03 Argentina : 0.50 14.20 0.01 0.08 4.90 9.50 0.31 Australia : 9.76 10.50 0.08 4.50 7.20 10.00 3.13 Canada : 9.71 27.28 0.28 6.60 10.95 19.20 7.11 EU-27 5/ : 23.38 124.80 5.50 60.40 125.70 13.50 14.48 Major importers 6/ : 59.96 170.08 52.65 7.63 219.22 4.90 58.58 Brazil : 1.33 2.23 7.50 0.10 10.40 0.05 0.62 China : 34.89 103.50 0.55 4.00 101.00 2.50 35.44 Select. Mideast 7/ : 6.58 20.04 10.00 1.50 29.74 0.55 6.33 N. Africa 8/ : 10.51 18.53 15.30 0.30 34.13 0.22 9.99 Pakistan : 3.26 21.70 0.15 0.40 21.90 0.20 3.01 Southeast Asia 9/ : 2.00 0.00 10.05 0.92 9.85 0.40 1.81 Selected other : India : 2.00 69.35 6.70 0.30 74.35 0.20 3.50 FSU-12 : 15.17 85.94 4.59 21.46 73.05 19.19 13.47 Russia : 3.81 44.90 1.20 14.10 36.60 10.70 2.61 Kazakhstan : 4.28 13.50 0.02 2.70 7.80 5.50 4.50 Ukraine : 2.41 14.00 0.08 2.10 11.50 2.80 2.19 =============================================================================== 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-447-19 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/ : May : 120.36 616.87 107.29 105.99 623.87 110.29 113.36 June : 121.95 610.15 104.94 104.18 620.07 107.42 112.03 United States : May : 11.20 59.16 2.72 6.26 33.78 26.54 12.77 June : 11.34 59.00 2.72 6.26 33.78 27.22 12.06 Total foreign : May : 109.16 557.71 104.57 99.73 590.09 83.76 100.60 June : 110.61 551.16 102.22 97.92 586.30 80.21 99.97 Major exporters 4/ : May : 24.13 186.74 7.35 67.08 145.10 51.00 22.12 June : 25.03 187.92 6.35 66.58 144.10 52.00 23.19 Argentina May : 0.31 12.80 0.00 0.08 4.90 8.00 0.21 Jun : 0.31 14.00 0.00 0.08 4.90 9.00 0.41 Australia May : 2.63 22.10 0.08 4.00 6.70 14.50 3.61 Jun : 3.13 22.10 0.08 4.00 6.70 14.50 4.11 Canada May : 6.91 24.50 0.28 5.00 9.50 16.50 5.69 Jun : 7.11 24.50 0.28 5.00 9.50 16.50 5.89 EU-27 5/ May : 14.28 127.34 7.00 58.00 124.00 12.00 12.62 Jun : 14.48 127.32 6.00 57.50 123.00 12.00 12.80 Major importers 6/ : May : 57.91 163.90 54.30 7.04 218.35 4.77 52.99 June : 58.58 163.77 53.40 6.79 217.71 5.22 52.83 Brazil May : 0.62 3.80 7.00 0.20 10.60 0.01 0.81 Jun : 0.62 3.80 6.80 0.20 10.50 0.01 0.71 China May : 35.44 100.00 0.50 3.50 99.50 2.00 34.44 Jun : 35.44 100.00 0.50 3.50 99.50 2.50 33.94 Sel. Mideast 7/May : 5.64 19.80 9.95 1.35 29.69 0.55 5.16 Jun : 6.33 20.27 9.65 1.20 29.64 0.55 6.07 N. Africa 8/ May : 9.99 14.38 17.15 0.15 34.18 0.21 7.14 Jun : 9.99 13.78 16.95 0.15 33.88 0.16 6.69 Pakistan May : 3.01 21.80 0.15 0.40 22.00 0.60 2.36 Jun : 3.01 21.80 0.15 0.40 22.00 0.60 2.36 SE Asia 9/ May : 1.83 0.00 10.45 1.04 10.15 0.43 1.71 Jun : 1.81 0.00 10.25 0.94 9.95 0.43 1.69 Selected other : India May : 3.50 73.70 3.00 0.20 75.70 0.05 4.45 Jun : 3.50 73.70 3.00 0.20 75.65 0.05 4.50 FSU-12 May : 13.27 91.89 4.18 22.11 73.36 23.69 12.28 Jun : 13.47 84.59 4.18 21.26 72.11 18.69 11.43 Russia May : 2.61 48.50 1.20 14.50 36.90 12.50 2.91 Jun : 2.61 45.00 1.20 14.20 36.20 10.50 2.11 Kazakhstan May : 4.50 12.50 0.02 2.70 7.80 5.50 3.71 Jun : 4.50 12.50 0.02 2.70 7.80 5.50 3.71 Ukraine May : 2.19 17.50 0.01 2.50 11.90 5.50 2.30 Jun : 2.19 14.00 0.01 2.00 11.40 2.50 2.30 =============================================================================== 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-447-20 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/ : 177.91 978.64 104.28 635.75 993.13 107.38 163.42 United States : 58.80 298.76 2.06 162.99 244.73 60.13 54.77 Total foreign : 119.11 679.88 102.22 472.76 748.41 47.25 108.65 Major exporters 4/ : 13.65 66.31 3.06 36.55 49.55 20.26 13.21 Argentina : 1.56 19.22 0.06 6.81 9.37 10.02 1.46 Australia : 2.32 13.74 0.00 5.88 7.16 5.59 3.32 Canada : 6.34 26.04 1.99 19.51 23.96 4.08 6.33 Major importers 5/ : 47.50 216.53 77.35 218.20 293.21 5.65 42.53 EU-27 6/ : 25.02 146.74 2.78 109.42 147.54 4.36 22.64 Japan : 1.88 0.19 19.77 15.06 20.09 0.00 1.74 Mexico : 5.40 25.83 9.90 21.19 37.59 0.21 3.34 N. Afr & Mideast 7/: 8.56 26.61 18.76 38.80 45.70 0.89 7.34 Saudi Arabia : 2.71 0.20 8.52 8.00 8.19 0.00 3.25 Southeast Asia 8/ : 1.69 16.57 4.41 14.57 20.33 0.20 2.14 South Korea : 1.38 0.34 8.55 6.56 8.91 0.00 1.36 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 : 7.26 55.17 1.09 33.61 49.58 8.47 5.47 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/ : 163.42 976.04 105.33 633.40 1014.08 109.50 125.38 United States : 54.77 280.11 2.43 154.76 250.14 58.66 28.51 Total foreign : 108.65 695.93 102.90 478.64 763.94 50.84 96.87 Major exporters 4/ : 13.21 64.30 3.40 36.28 50.18 22.86 7.88 Argentina : 1.46 27.54 0.00 7.61 10.32 16.51 2.17 Australia : 3.32 6.37 0.00 5.07 6.30 2.18 1.20 Canada : 6.33 23.47 2.07 19.04 24.16 3.65 4.06 Major importers 5/ : 42.53 212.62 79.61 216.76 292.55 5.27 36.94 EU-27 6/ : 22.64 138.69 5.92 105.76 144.26 4.66 18.33 Japan : 1.74 0.18 19.19 14.86 19.79 0.00 1.32 Mexico : 3.34 28.73 10.70 22.88 39.38 0.00 3.39 N. Afr & Mideast 7/: 7.34 27.49 18.69 39.32 46.58 0.30 6.64 Saudi Arabia : 3.25 0.20 7.30 7.63 7.81 0.00 2.94 Southeast Asia 8/ : 2.14 16.96 4.01 14.76 20.52 0.31 2.27 South Korea : 1.36 0.33 9.27 7.25 9.63 0.00 1.32 Selected other : Brazil : 3.17 52.56 0.61 37.08 44.31 6.53 5.50 China : 35.81 151.56 1.63 104.69 153.02 4.60 31.38 FSU-12 : 5.47 58.55 0.79 35.47 51.04 8.29 5.48 Russia : 1.33 30.20 0.50 18.70 28.70 1.70 1.63 Ukraine : 2.40 19.18 0.03 9.95 13.38 5.90 2.33 =============================================================================== 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-447-21 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/ : May : 123.78 1056.60 105.74 643.28 1060.59 107.19 119.79 June : 125.38 1056.36 105.34 643.88 1060.21 105.79 121.53 United States : May : 27.13 332.52 2.75 152.20 280.22 54.70 27.48 June : 28.51 332.52 2.75 152.20 280.22 54.70 28.86 Total foreign : May : 96.65 724.09 102.99 491.08 780.37 52.50 92.31 June : 96.87 723.84 102.59 491.69 779.99 51.10 92.67 Major exporters 4/ : May : 8.05 80.09 2.05 38.30 53.23 26.49 10.47 June : 7.88 80.19 2.05 38.10 53.13 26.79 10.20 Argentina May : 2.34 28.87 0.00 8.21 10.87 17.21 3.14 Jun : 2.17 28.97 0.00 8.11 10.87 17.31 2.97 Australia May : 1.21 12.01 0.00 5.44 6.73 4.71 1.78 Jun : 1.20 12.01 0.00 5.34 6.63 4.91 1.67 Canada May : 4.06 28.24 1.67 20.04 26.16 3.80 4.02 Jun : 4.06 28.24 1.67 20.04 26.16 3.80 4.02 Major importers 5/ : May : 36.67 217.72 81.15 222.12 298.94 3.65 32.95 June : 36.94 218.88 80.85 222.52 299.24 3.95 33.48 EU-27 6/ May : 18.06 143.71 3.97 106.55 145.95 3.31 16.47 Jun : 18.33 145.33 3.97 107.55 146.95 3.61 17.06 Japan May : 1.32 0.17 18.89 14.41 19.24 0.00 1.14 Jun : 1.32 0.17 18.89 14.41 19.24 0.00 1.14 Mexico May : 3.39 29.38 13.30 25.98 42.68 0.03 3.36 Jun : 3.39 29.38 13.30 25.98 42.68 0.03 3.36 N Afr/M.East 7/May : 6.64 26.71 19.28 39.92 47.11 0.05 5.47 Jun : 6.64 26.25 19.48 39.82 46.91 0.05 5.41 Saudi Arabia May : 2.94 0.20 7.90 8.23 8.41 0.00 2.63 Jun : 2.94 0.20 7.40 7.73 7.91 0.00 2.63 S.-east Asia 8/May : 2.27 17.17 4.21 15.56 21.42 0.26 1.97 Jun : 2.27 17.17 4.21 15.56 21.42 0.26 1.97 South Korea May : 1.32 0.32 9.17 7.15 9.53 0.00 1.28 Jun : 1.32 0.32 9.17 7.15 9.53 0.00 1.28 Selected other : Brazil May : 5.50 52.86 0.56 37.78 45.01 6.53 7.38 Jun : 5.50 52.86 0.56 37.78 45.01 6.53 7.38 China May : 31.40 154.40 2.33 106.71 158.50 3.04 26.59 Jun : 31.38 154.40 2.13 106.71 158.45 3.04 26.42 FSU-12 May : 5.38 60.75 0.56 36.13 51.73 9.60 5.36 Jun : 5.48 59.09 0.56 36.55 52.07 7.60 5.46 Russia May : 1.53 31.30 0.28 18.95 29.18 1.90 2.03 Jun : 1.63 31.30 0.28 18.95 29.18 1.90 2.13 Ukraine May : 2.33 19.60 0.02 10.15 13.30 7.01 1.64 Jun : 2.33 17.96 0.02 10.60 13.66 5.01 1.64 =============================================================================== 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-447-22 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/ : 130.67 695.93 79.24 475.72 704.18 81.24 122.42 United States : 53.70 282.31 0.23 156.00 231.72 54.55 49.97 Total foreign : 76.97 413.62 79.01 319.73 472.46 26.69 72.46 Major exporters 4/ : 4.15 22.74 0.96 8.55 14.70 10.01 3.13 Argentina : 0.96 15.80 0.06 4.40 6.20 9.46 1.16 South Africa : 3.19 6.94 0.90 4.15 8.50 0.55 1.98 Major importers 5/ : 17.99 103.17 47.79 105.16 149.70 0.83 18.41 Egypt : 0.42 5.93 4.40 8.30 10.10 0.00 0.65 EU-27 6/ : 8.10 61.15 2.63 47.00 61.50 0.45 9.93 Japan : 1.03 0.00 16.62 12.00 16.70 0.00 0.95 Mexico : 4.53 19.50 6.79 12.40 27.90 0.21 2.71 Southeast Asia 7/ : 1.66 16.48 4.40 14.50 20.25 0.17 2.12 South Korea : 1.38 0.07 8.48 6.51 8.58 0.00 1.36 Selected other : Brazil : 4.19 41.70 1.15 33.00 39.50 4.52 3.02 Canada : 1.80 9.46 1.93 8.71 10.94 0.25 2.00 China : 36.56 139.36 0.06 101.00 137.00 3.73 35.26 FSU-12 : 2.17 13.15 0.63 10.12 11.76 2.55 1.63 Ukraine : 1.32 7.15 0.01 4.40 5.10 2.46 0.92 : : 2006/07 (Estimated) : World 3/ : 122.42 699.32 83.25 475.98 727.07 86.93 94.68 United States : 49.97 267.60 0.25 148.60 238.14 54.61 25.07 Total foreign : 72.46 431.72 83.00 327.39 488.93 32.32 69.61 Major exporters 4/ : 3.13 29.00 1.20 9.10 15.50 16.00 1.83 Argentina : 1.16 22.50 0.00 4.80 6.70 15.50 1.46 South Africa : 1.98 6.50 1.20 4.30 8.80 0.50 0.38 Major importers 5/ : 18.41 100.10 51.60 105.40 150.27 0.79 19.05 Egypt : 0.65 5.94 4.30 8.40 10.40 0.00 0.49 EU-27 6/ : 9.93 55.19 5.00 44.30 58.90 0.50 10.72 Japan : 0.95 0.00 16.20 11.90 16.50 0.00 0.65 Mexico : 2.71 22.00 8.50 14.70 30.30 0.00 2.91 Southeast Asia 7/ : 2.12 16.87 4.00 14.70 20.45 0.29 2.25 South Korea : 1.36 0.07 9.20 7.20 9.30 0.00 1.32 Selected other : Brazil : 3.02 50.00 0.35 35.00 41.50 6.50 5.37 Canada : 2.00 9.27 2.00 8.60 11.50 0.20 1.57 China : 35.26 143.00 0.10 103.00 143.00 4.50 30.86 FSU-12 : 1.63 12.70 0.45 10.34 11.95 1.13 1.70 Ukraine : 0.92 6.40 0.00 4.50 5.25 1.00 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-447-23 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/ : May : 93.20 766.50 82.23 482.85 769.45 83.11 90.25 June : 94.68 767.96 82.33 484.13 770.84 83.11 91.80 United States : May : 23.80 316.50 0.38 144.79 266.46 50.17 24.06 June : 25.07 316.50 0.38 144.79 266.46 50.17 25.33 Total foreign : May : 69.40 450.00 81.85 338.06 502.99 32.95 66.19 June : 69.61 451.46 81.95 339.34 504.38 32.95 66.48 Major exporters 4/ : May : 1.97 34.50 0.25 9.65 16.10 16.75 3.87 June : 1.83 34.50 0.25 9.55 16.00 16.75 3.83 Argentina May : 1.59 24.00 0.00 5.30 7.20 16.00 2.39 Jun : 1.46 24.00 0.00 5.20 7.10 16.00 2.36 South Africa May : 0.38 10.50 0.25 4.35 8.90 0.75 1.48 Jun : 0.38 10.50 0.25 4.35 8.90 0.75 1.48 Major importers 5/ : May : 18.75 101.72 51.70 109.60 155.18 0.56 16.44 June : 19.05 102.07 51.70 110.10 155.68 0.56 16.59 Egypt May : 0.49 5.98 4.30 8.30 10.40 0.00 0.37 Jun : 0.49 5.98 4.30 8.30 10.40 0.00 0.37 EU-27 6/ May : 10.42 55.37 3.50 45.30 60.30 0.30 8.69 Jun : 10.72 55.72 3.50 45.80 60.80 0.30 8.84 Japan May : 0.65 0.00 16.10 11.70 16.20 0.00 0.55 Jun : 0.65 0.00 16.10 11.70 16.20 0.00 0.55 Mexico May : 2.91 23.20 10.20 17.50 33.30 0.03 2.98 Jun : 2.91 23.20 10.20 17.50 33.30 0.03 2.98 S.-east Asia 7/May : 2.25 17.08 4.20 15.50 21.35 0.24 1.95 Jun : 2.25 17.08 4.20 15.50 21.35 0.24 1.95 South Korea May : 1.32 0.06 9.10 7.10 9.20 0.00 1.28 Jun : 1.32 0.06 9.10 7.10 9.20 0.00 1.28 Selected other : Brazil May : 5.37 50.00 0.30 35.50 42.00 6.50 7.17 Jun : 5.37 50.00 0.30 35.50 42.00 6.50 7.17 Canada May : 1.57 11.50 1.60 9.20 13.10 0.20 1.37 Jun : 1.57 11.50 1.60 9.20 13.10 0.20 1.37 China May : 30.86 146.00 0.10 105.00 148.00 3.00 25.96 Jun : 30.86 146.00 0.10 105.00 148.00 3.00 25.96 FSU-12 May : 1.70 14.70 0.25 10.54 12.25 2.83 1.58 Jun : 1.70 15.20 0.25 11.04 12.75 2.83 1.58 Ukraine May : 1.07 7.00 0.00 4.50 5.10 2.50 0.47 Jun : 1.07 7.50 0.00 5.00 5.60 2.50 0.47 =============================================================================== 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-447-24 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/ : 75.01 418.00 26.15 415.77 30.08 77.23 United States : 1.21 7.11 0.54 3.81 3.69 1.37 Total foreign : 73.79 410.89 25.60 411.96 26.39 75.86 Major exporters 4/ : 12.41 138.31 0.36 114.88 20.43 15.77 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 9.50 7.38 3.64 Vietnam : 1.29 22.77 0.35 18.39 4.71 1.32 Major importers 5/ : 12.98 60.02 10.79 70.02 0.50 13.26 Brazil : 1.75 7.87 0.75 8.97 0.28 1.11 EU-27 6/ : 1.14 1.74 1.13 2.65 0.16 1.19 Indonesia : 3.45 34.96 0.54 35.80 0.00 3.15 Nigeria : 0.42 2.70 1.78 4.35 0.00 0.55 Philippines : 4.57 9.82 1.62 11.00 0.00 5.01 Sel. Mideast 7/ : 1.46 2.38 3.91 5.60 0.06 2.09 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 3.28 0.96 0.43 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 : 0.91 4.77 0.22 4.85 0.13 0.91 : : 2006/07 (Estimated) World 3/ : 77.23 416.56 28.39 418.38 29.61 75.42 United States : 1.37 6.24 0.67 3.93 3.00 1.35 Total foreign : 75.86 410.33 27.72 414.44 26.61 74.08 Major exporters 4/ : 15.77 137.40 0.31 117.61 21.20 14.67 India : 10.52 91.05 0.00 87.55 4.30 9.72 Pakistan : 0.30 5.20 0.00 2.14 3.10 0.26 Thailand : 3.64 18.25 0.01 9.57 8.80 3.52 Vietnam : 1.32 22.90 0.30 18.35 5.00 1.17 Major importers 5/ : 13.26 58.82 12.06 70.49 0.33 13.33 Brazil : 1.11 7.70 0.85 8.95 0.13 0.59 EU-27 6/ : 1.19 1.69 1.10 2.70 0.15 1.13 Indonesia : 3.15 33.30 2.00 35.85 0.00 2.60 Nigeria : 0.55 2.90 1.60 4.45 0.00 0.60 Philippines : 5.01 10.05 1.85 11.30 0.00 5.61 Sel. Mideast 7/ : 2.09 2.58 3.55 5.53 0.05 2.64 Selected other : Burma : 0.70 10.60 0.00 10.50 0.10 0.70 C. Amer & Carib 8/ : 0.20 0.07 0.45 0.50 0.00 0.22 China : 36.78 128.00 0.80 127.90 1.40 36.28 Egypt : 0.43 4.38 0.10 3.30 1.00 0.62 Japan : 2.40 7.79 0.65 8.25 0.20 2.38 Mexico : 0.16 0.23 0.60 0.80 0.00 0.18 South Korea : 0.91 4.68 0.27 4.84 0.10 0.92 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in 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-447-25 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/ : May : 75.66 420.75 27.35 424.48 29.73 71.93 June : 75.42 420.88 27.40 424.55 29.85 71.76 United States : May : 1.21 5.85 0.67 3.99 2.97 0.76 June : 1.35 5.85 0.68 3.99 3.07 0.82 Total foreign : May : 74.45 414.90 26.68 420.49 26.76 71.17 June : 74.08 415.03 26.72 420.55 26.78 70.94 Major exporters 4/ : May : 14.91 138.29 0.46 119.57 21.10 12.99 June : 14.67 138.29 0.46 119.68 21.10 12.64 India May : 9.72 91.50 0.00 89.12 4.10 8.00 Jun : 9.72 91.50 0.00 89.12 4.10 8.00 Pakistan May : 0.37 5.40 0.00 2.10 3.20 0.47 Jun : 0.26 5.40 0.00 2.21 3.20 0.25 Thailand May : 3.52 18.40 0.01 9.60 9.00 3.33 Jun : 3.52 18.40 0.01 9.60 9.00 3.33 Vietnam May : 1.30 22.99 0.45 18.75 4.80 1.20 Jun : 1.17 22.99 0.45 18.75 4.80 1.06 Major importers 5/ : May : 13.10 59.62 11.38 71.46 0.27 12.36 June : 13.33 59.75 11.38 71.58 0.27 12.61 Brazil May : 0.62 7.85 0.95 8.90 0.10 0.42 Jun : 0.59 7.85 0.95 8.90 0.10 0.39 EU-27 6/ May : 1.11 1.69 1.10 2.75 0.15 1.00 Jun : 1.13 1.69 1.10 2.75 0.15 1.03 Indonesia May : 2.41 34.00 1.60 36.00 0.00 2.01 Jun : 2.60 34.00 1.60 36.00 0.00 2.20 Nigeria May : 0.60 3.00 1.70 4.70 0.00 0.60 Jun : 0.60 3.00 1.70 4.70 0.00 0.60 Philippines May : 5.79 10.01 1.80 11.75 0.00 5.85 Jun : 5.61 10.01 1.80 11.75 0.00 5.67 Sel. Mideast 7/May : 2.37 2.52 3.16 5.66 0.02 2.37 Jun : 2.64 2.65 3.16 5.86 0.02 2.57 Selected other : Burma May : 0.70 10.66 0.00 10.70 0.10 0.56 Jun : 0.70 10.66 0.00 10.70 0.10 0.56 C. Am & Car. 8/May : 0.22 0.07 0.40 0.49 0.00 0.19 Jun : 0.22 0.07 0.40 0.49 0.00 0.19 China May : 36.28 129.70 0.90 129.10 1.50 36.28 Jun : 36.28 129.70 0.90 129.10 1.50 36.28 Egypt May : 0.59 4.41 0.00 3.47 1.10 0.43 Jun : 0.62 4.41 0.00 3.47 1.10 0.45 Japan May : 2.38 7.94 0.70 8.15 0.20 2.67 Jun : 2.38 7.94 0.70 8.15 0.20 2.67 Mexico May : 0.18 0.20 0.63 0.80 0.00 0.20 Jun : 0.18 0.20 0.63 0.80 0.00 0.20 South Korea May : 1.10 4.60 0.27 4.76 0.10 1.10 Jun : 0.92 4.60 0.27 4.76 0.10 0.92 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in 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-447-26 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 : 55.09 114.31 44.06 116.16 44.61 -3.94 56.64 United States : 5.50 23.89 0.03 5.87 18.04 -0.55 6.05 Total foreign : 49.60 90.42 44.04 110.29 26.57 -3.39 50.59 Major exporters 4/ : 22.32 43.60 1.54 25.24 22.06 -0.09 20.24 Central Asia 5/ : 2.36 8.36 3/ 1.46 7.00 0.00 2.27 Afr. Fr. Zone 6/ : 1.87 4.24 3/ 0.19 4.44 0.00 1.48 S. Hemis. 7/ : 8.04 8.94 0.61 5.31 5.55 -0.10 6.85 Australia : 1.96 2.80 3/ 0.06 2.88 -0.12 1.94 Brazil : 5.08 4.70 0.31 4.20 1.97 0.00 3.92 India : 8.76 19.05 0.40 16.50 3.45 0.00 8.26 Major importers 8/ : 24.85 43.27 40.05 80.50 2.83 -3.31 28.15 Mexico : 1.32 0.64 1.74 2.10 0.25 0.03 1.32 China : 13.06 26.20 19.28 45.00 0.04 -3.50 17.01 EU-27 9/ : 1.16 2.51 2.31 2.72 2.00 0.06 1.20 Russia : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey : 1.79 3.55 3.38 6.90 0.13 0.00 1.70 Pakistan : 4.70 10.17 1.62 11.75 0.29 0.03 4.41 Indonesia : 0.38 0.03 2.20 2.18 0.02 0.05 0.37 Thailand : 0.63 0.06 1.89 2.15 0.01 0.03 0.40 Bangladesh : 0.38 0.07 2.21 2.20 0.00 0.01 0.46 : : 2006/07 (Estimated) : World : 56.64 116.71 37.78 122.54 37.09 -4.89 56.39 United States : 6.05 21.59 0.02 4.90 13.00 -0.05 9.80 Total foreign : 50.59 95.12 37.77 117.64 24.09 -4.84 46.59 Major exporters 4/ : 20.24 44.72 1.91 27.25 20.29 -0.04 19.37 Central Asia 5/ : 2.27 8.17 3/ 1.40 6.82 0.00 2.22 Afr. Fr. Zone 6/ : 1.48 3.84 3/ 0.19 3.95 0.00 1.18 S. Hemis. 7/ : 6.85 9.12 1.01 5.36 4.15 -0.05 7.52 Australia : 1.94 1.10 3/ 0.06 2.15 -0.07 0.91 Brazil : 3.92 6.50 0.60 4.15 1.40 0.00 5.47 India : 8.26 21.50 0.35 18.50 4.25 0.00 7.36 Major importers 8/ : 28.15 47.28 33.31 85.91 2.42 -4.81 25.22 Mexico : 1.32 0.65 1.45 2.10 0.20 0.03 1.10 China : 17.01 30.90 11.75 50.00 0.08 -5.00 14.59 EU-27 9/ : 1.20 1.61 2.00 2.36 1.58 0.06 0.81 Russia : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey : 1.70 4.02 3.60 7.20 0.10 0.00 2.02 Pakistan : 4.41 9.90 2.20 12.10 0.30 0.03 4.09 Indonesia : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Thailand : 0.40 0.05 2.10 2.05 0.00 0.03 0.47 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-447-27 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 : May : 55.41 116.00 42.50 127.00 42.00 -5.80 50.71 June : 56.39 115.89 42.11 127.41 41.58 -5.84 51.23 United States : May : 9.50 18.80 0.02 4.40 17.50 0.02 6.40 June : 9.80 18.80 0.02 4.40 17.50 0.02 6.70 Total foreign : May : 45.91 97.20 42.49 122.60 24.50 -5.81 44.31 June : 46.59 97.09 42.09 123.01 24.08 -5.85 44.53 Major exporters 4/ : June : 19.37 45.98 1.60 28.70 20.43 -0.04 17.85 Central Asia 5/Jun : 2.22 8.08 3/ 1.37 6.83 0.00 2.09 Afr. Fr. Zn. 6/Jun : 1.18 4.07 3/ 0.19 3.96 0.00 1.10 S. Hemis 7/ Jun : 7.52 8.58 0.65 5.35 4.74 -0.05 6.71 Australia Jun : 0.91 1.00 3/ 0.05 1.30 -0.07 0.63 Brazil Jun : 5.47 6.00 0.25 4.10 2.70 0.00 4.92 India Jun : 7.36 22.50 0.40 20.00 3.50 0.00 6.76 Major importers 8/ : June : 25.22 47.77 38.06 89.93 2.19 -5.82 24.74 Mexico Jun : 1.10 0.68 1.50 2.05 0.25 0.03 0.95 China May : 15.84 31.00 17.00 54.00 0.05 -6.00 15.79 Jun : 14.59 31.00 17.00 54.00 0.05 -6.00 14.54 EU-27 9/ Jun : 0.81 1.69 1.86 2.11 1.52 0.05 0.68 Russia Jun : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey Jun : 2.02 3.80 3.40 7.30 0.10 0.00 1.82 Pakistan Jun : 4.09 10.40 2.30 12.40 0.15 0.03 4.21 Indonesia Jun : 0.35 0.03 2.25 2.20 0.02 0.05 0.36 Thailand Jun : 0.47 0.04 1.90 1.95 0.00 0.03 0.44 Bangladesh Jun : 0.52 0.07 2.40 2.50 0.00 0.01 0.49 =============================================================================== 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-447-28 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/ : 48.44 220.56 64.43 185.30 215.26 64.22 53.94 United States : 6.96 83.37 0.09 47.32 52.41 25.78 12.23 Total foreign : 41.48 137.19 64.34 137.98 162.85 38.44 41.71 Major exporters 3/ : 33.80 101.14 0.68 61.26 65.76 35.63 34.23 Argentina : 16.96 40.50 0.58 31.89 33.34 7.25 17.45 Brazil : 16.75 57.00 0.08 28.29 31.19 25.91 16.73 Major importers 4/ : 6.40 18.99 53.16 56.66 72.20 0.42 5.94 China : 4.70 16.35 28.32 34.50 44.54 0.35 4.47 EU-27 : 0.88 1.17 13.95 13.53 14.99 0.05 0.97 Japan : 0.26 0.23 3.96 2.82 4.19 0.00 0.25 Mexico : 0.05 0.19 3.67 3.82 3.86 0.00 0.04 : : 2006/07 (Estimated) World 2/ : 53.94 235.41 69.07 194.17 224.75 70.07 63.60 United States : 12.23 86.77 0.11 48.17 53.12 29.39 16.59 Total foreign : 41.71 148.64 68.96 145.99 171.62 40.68 47.01 Major exporters 3/ : 34.23 112.00 1.12 64.55 69.23 37.40 40.72 Argentina : 17.45 46.50 1.05 33.90 35.44 7.50 22.06 Brazil : 16.73 59.00 0.06 29.30 32.25 25.00 18.54 Major importers 4/ : 5.94 18.77 56.54 60.13 75.86 0.46 4.94 China : 4.47 16.20 30.00 36.70 46.85 0.39 3.43 EU-27 : 0.97 1.24 15.12 14.80 16.27 0.05 1.02 Japan : 0.25 0.23 4.10 2.93 4.31 0.00 0.27 Mexico : 0.04 0.08 3.82 3.86 3.90 0.00 0.04 : : 2007/08 (Projected) World 2/ : June : 63.60 225.32 74.89 203.43 234.28 75.53 54.00 United States : June : 16.59 74.71 0.11 48.72 53.31 29.39 8.70 Total foreign : June : 47.01 150.62 74.78 154.71 180.97 46.14 45.30 Major exporters 3/ : June : 40.72 114.20 1.22 69.25 74.03 42.89 39.22 Argentina Jun : 22.06 47.00 1.15 38.50 40.10 8.60 21.51 Brazil Jun : 18.54 61.00 0.06 29.30 32.28 29.69 17.63 Major importers 4/ : June : 4.94 17.98 61.37 62.94 79.09 0.52 4.67 China Jun : 3.43 15.60 34.50 39.70 50.00 0.45 3.08 EU-27 Jun : 1.02 1.05 14.88 14.44 15.89 0.05 1.01 Japan Jun : 0.27 0.23 4.15 2.93 4.33 0.00 0.32 Mexico Jun : 0.04 0.10 3.88 3.94 3.98 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-447-29 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/ : 5.94 145.75 50.43 145.76 51.29 5.08 United States : 0.16 37.41 0.13 30.10 7.32 0.29 Total foreign : 5.79 108.33 50.31 115.67 43.97 4.79 Major exporters 3/ : 3.40 51.63 0.20 11.71 40.77 2.75 Argentina : 0.94 25.02 0.00 0.57 24.19 1.20 Brazil : 1.58 21.84 0.20 9.60 12.90 1.12 India : 0.88 4.77 0.00 1.55 3.68 0.43 Major importers 4/ : 1.20 39.27 29.44 67.76 1.09 1.06 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/ : 5.08 152.82 51.94 151.87 52.81 5.16 United States : 0.29 38.03 0.15 30.62 7.58 0.27 Total foreign : 4.79 114.79 51.79 121.25 45.23 4.89 Major exporters 3/ : 2.75 54.62 0.23 12.74 41.95 2.90 Argentina : 1.20 26.65 0.00 0.60 26.11 1.15 Brazil : 1.12 22.70 0.23 10.20 12.31 1.54 India : 0.43 5.27 0.00 1.95 3.54 0.21 Major importers 4/ : 1.06 41.97 29.20 70.10 1.07 1.06 EU-27 : 0.87 11.65 22.36 33.43 0.59 0.87 China : 0.00 29.05 0.35 28.95 0.45 0.00 : : 2007/08 (Projected) World 2/ : June : 5.16 160.35 55.18 159.22 56.03 5.43 United States : June : 0.27 38.63 0.15 31.16 7.62 0.27 Total foreign : June : 4.89 121.72 55.03 128.06 48.41 5.16 Major exporters 3/ : June : 2.90 58.37 0.22 13.49 44.81 3.20 Argentina Jun : 1.15 30.23 0.00 0.64 29.34 1.40 Brazil Jun : 1.54 22.74 0.22 10.88 12.00 1.62 India Jun : 0.21 5.41 0.00 1.98 3.47 0.18 Major importers 4/ : June : 1.06 44.21 30.87 73.87 1.20 1.06 EU-27 Jun : 0.87 11.37 23.50 34.24 0.61 0.88 China Jun : 0.00 31.48 0.50 31.43 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-447-30 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/ : 2.85 34.52 9.07 33.76 9.81 2.88 United States : 0.77 9.25 0.02 8.15 0.52 1.37 Total foreign : 2.08 25.27 9.06 25.61 9.29 1.51 Major exporters 3/ : 0.99 13.80 0.74 6.40 8.33 0.80 Argentina : 0.34 5.95 0.00 0.40 5.60 0.30 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 7.23 3.22 10.61 0.11 0.37 China : 0.25 6.15 1.52 7.61 0.11 0.20 India : 0.39 1.08 1.68 2.98 0.00 0.17 Pakistan : 0.01 0.00 0.02 0.02 0.00 0.00 : : 2006/07 (Estimated) World 2/ : 2.88 35.87 9.84 35.81 10.05 2.73 United States : 1.37 9.09 0.01 8.48 0.66 1.33 Total foreign : 1.51 26.78 9.82 27.32 9.40 1.40 Major exporters 3/ : 0.80 14.60 0.93 7.11 8.43 0.78 Argentina : 0.30 6.33 0.00 0.51 5.86 0.25 Brazil : 0.31 5.63 0.01 3.29 2.32 0.33 EU-27 : 0.19 2.65 0.93 3.31 0.25 0.20 Major importers 4/ : 0.37 7.76 3.59 11.27 0.12 0.33 China : 0.20 6.56 1.70 8.17 0.12 0.18 India : 0.17 1.19 1.85 3.07 0.00 0.14 Pakistan : 0.00 0.01 0.04 0.04 0.00 0.00 : : 2007/08 (Projected) World 2/ : June : 2.73 37.53 10.03 37.49 10.38 2.41 United States : June : 1.33 9.22 0.02 8.94 0.64 0.99 Total foreign : June : 1.40 28.31 10.02 28.56 9.75 1.42 Major exporters 3/ : June : 0.78 15.33 1.06 7.55 8.80 0.82 Argentina Jun : 0.25 7.13 0.00 0.70 6.35 0.32 Brazil Jun : 0.33 5.63 0.01 3.47 2.20 0.30 EU-27 Jun : 0.20 2.58 1.05 3.38 0.25 0.20 Major importers 4/ : June : 0.33 8.34 3.48 11.73 0.05 0.36 China Jun : 0.18 7.11 1.85 8.87 0.05 0.22 India Jun : 0.14 1.22 1.58 2.80 0.00 0.14 Pakistan Jun : 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-447-31 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 : II : 6724 5008 11815 9130 1440 10701 22516 1882 46.9 III : 6834 5087 11999 8884 1419 10429 22428 1894 44.7 IV : 6513 5625 12224 8801 1473 10395 22619 1917 44.6 Annual : 26153 21055 47540 35752 5686 41943 89483 7572 181.8 : 2007 : I : 6235 5396 11720 8574 1410 10099 21819 1861 46.0 II*: 6725 5140 11949 8975 1475 10575 22524 1855 47.5 III*: 6850 5200 12131 9050 1450 10620 22751 1900 45.5 IV*: 6330 5725 12140 9050 1490 10655 22795 1920 45.4 Annual : May Proj : 26140 21446 47923 35599 5825 41899 89822 7611 184.2 Jun Proj : 26140 21461 47940 35649 5825 41949 89889 7536 184.3 : 2008 : I*: 6200 5350 11637 8850 1425 10395 22032 1880 47.3 Annual : May Proj : 26315 21625 48269 36425 5875 42795 91064 7660 187.7 Jun Proj : 26315 21625 48269 36425 5875 42795 91064 7660 188.4 =============================================================================== * 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 Products1/ =============================================================================== 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 : II : 80.39 48.45 61.0 71.3 62.7 11.97 III : 85.40 51.83 67.8 79.4 64.0 12.23 IV : 86.61 46.13 65.9 89.8 89.0 13.90 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*: 94-95 52-53 80-81 77-78 88-89 18.10-18.30 III*: 87-91 52-54 78-82 79-83 85-89 20.90-21.40 IV*: 84-92 46-50 73-79 82-88 90-98 20.30-21.10 Annual : May Proj : 87-91 49-51 75-78 76-79 94-98 17.05-17.55 Jun Proj : 89-92 49-51 76-79 77-80 92-95 18.55-18.95 : 2008 : I*: 84-92 46-50 73-79 69-75 95-103 19.10-20.10 Annual : May Proj : 84-90 47-51 73-79 73-79 91-99 17.00-18.00 Jun Proj : 84-90 47-51 73-79 73-79 89-97 17.90-18.90 =============================================================================== *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-447-32 U.S. Meats Supply and Use ============================================================================ : Supply : Use :--------------------------------------------------------- : : : : : : : Disappearance : : Pro- : : : : :--------------- : Beg- : duc- : : : : End- : : Per Item :inning: tion : Im- :Total : Ex- : ing : :capita :stocks: 1/ :ports :supply: ports:stocks:Total : 2/ 3/ ============================================================================ : Million pounds 4/ BEEF : 2006 : 571 26258 3085 29914 1153 630 28131 65.7 2007 Proj. May : 630 26245 3235 30110 1284 550 28276 65.4 Jun : 630 26245 3235 30110 1314 550 28246 65.3 2008 Proj. May : 550 26420 3300 30270 1520 600 28150 64.5 Jun : 550 26420 3300 30270 1580 600 28090 64.4 : PORK : 2006 : 494 21075 989 22558 2997 514 19047 49.3 2007 Proj. May : 514 21466 929 22909 3112 540 19257 49.4 Jun : 514 21481 929 22924 3112 540 19272 49.4 2008 Proj. May : 540 21645 930 23115 3270 550 19295 49.0 Jun : 540 21645 930 23115 3270 550 19295 49.0 : TOTAL RED MEAT 5/ : 2006 : 1080 47679 4264 53023 4168 1166 47689 116.5 2007 Proj. May : 1166 48061 4359 53586 4408 1110 48068 116.3 Jun : 1166 48078 4359 53603 4438 1110 48055 116.3 2008 Proj. May : 1110 48407 4428 53945 4800 1170 47975 115.0 Jun : 1110 48407 4428 53945 4860 1170 47915 114.9 : BROILERS : 2006 : 924 35369 47 36340 5272 745 30323 86.9 2007 Proj. May : 745 35218 51 36014 5355 700 29959 85.0 Jun : 745 35268 51 36064 5250 700 30114 85.5 2008 Proj. May : 700 36035 48 36783 5515 775 30493 85.7 Jun : 700 36035 48 36783 5515 775 30493 85.7 : TURKEYS : 2006 : 206 5612 12 5829 546 218 5065 16.9 2007 Proj. May : 218 5749 11 5978 554 250 5174 17.1 Jun : 218 5749 11 5978 554 250 5174 17.1 2008 Proj. May : 250 5798 12 6060 605 290 5165 16.9 Jun : 250 5798 12 6060 605 290 5165 16.9 : TOTAL POULTRY 6/ : 2006 : 1132 41485 61 42678 5978 969 35732 104.9 2007 Proj. May : 969 41441 65 42475 6057 955 35463 103.2 Jun : 969 41491 65 42525 5957 955 35613 103.6 2008 Proj. May : 955 42328 63 43345 6255 1070 36020 103.8 Jun : 955 42328 63 43345 6255 1070 36020 103.8 : RED MEAT & POULTRY: 2006 : 2212 89164 4325 95701 10146 2135 83421 221.4 2007 Proj. May : 2135 89502 4424 96061 10465 2065 83531 219.5 Jun : 2135 89569 4424 96128 10395 2065 83668 219.9 2008 Proj. May : 2065 90735 4491 97290 11055 2240 83995 218.9 Jun : 2065 90735 4491 97290 11115 2240 83935 218.7 ============================================================================ 1/ Total including farm production for red meats and, for poultry, federally inspected plus non-federally inspected, less condemnations. 2/ Pounds, retail-weight basis. 3/ Population source: Dept. of Commerce, Bureau of Economic Analysis. 4/ Carcass weight for red meats and certified ready-to-cook weight for poultry. 5/ Beef, pork, veal, lamb and mutton. 6/ Broilers, turkeys and mature chicken. WASDE-447-33 U.S. Egg Supply and Use =============================================================================== : : : 2007 Projected : 2008 Projected : : :-----------------:----------------- Commodity : 2005 : 2006 : May : Jun : May : Jun =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 14.5 16.0 12.5 12.5 13.0 13.0 Production : 7509.0 7572.0 7611.0 7536.0 7660.0 7660.0 Imports : 12.9 10.8 13.9 13.9 14.0 14.0 Total supply : 7536.4 7598.8 7637.4 7562.4 7687.0 7687.0 : Use : Exports : 203.3 202.0 255.4 255.4 250.0 250.0 Hatching use : 999.8 994.0 993.8 993.8 995.0 995.0 Ending stocks : 16.0 12.5 13.0 13.0 12.0 12.0 Disappearance : Total : 6317.3 6390.3 6375.2 6300.2 6430.0 6430.0 Per capita (number) : 255.3 255.7 252.8 249.8 252.6 252.6 =============================================================================== U.S. Milk Supply and Use =============================================================================== : : : 2007 Projected : 2008 Projected Commodity : : :-----------------:----------------- : 2005 : 2006 : May : Jun : May : Jun =============================================================================== : Billion pounds Milk : Production : 176.9 181.8 184.2 184.3 187.7 188.4 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 8.6 8.7 Marketings : 175.8 180.7 183.0 183.2 186.6 187.2 Imports : 5.0 5.0 5.1 4.8 5.3 4.8 Total cml. supply : 187.9 193.6 197.6 197.5 200.4 200.7 : Fat Basis Use : Ending commercial stks : 8.0 9.5 8.6 8.7 7.8 8.0 CCC net removals 1/ : -0.0 0.0 0.0 0.0 0.0 0.0 Commercial use 2/ : 179.9 184.1 189.0 188.8 192.6 192.7 : Skim-solids Basis Supply : Beg. commercial stocks : 8.2 9.0 9.1 9.1 8.8 8.8 Marketings : 175.8 180.7 183.0 183.2 186.6 187.2 Imports : 4.8 4.8 4.8 4.6 5.1 4.7 Total cml. supply : 188.8 194.4 197.0 196.9 200.4 200.7 : Skim-solids Basis Use : Ending commercial stks : 9.0 9.1 8.8 8.8 8.7 8.6 CCC net removals 1/ : -1.0 0.7 0.0 0.0 0.0 0.0 Commercial use 2/ : 180.8 184.5 188.2 188.1 191.7 192.1 : : 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-447-34 U.S. Dairy Prices =============================================================================== : : : 2007 Projected : 2008 Projected : : :-----------------:------------------ Commodity : 2005 : 2006 : May : Jun : May : Jun =============================================================================== : Dollars per pound : Product Prices 1/ : Cheese : 1.4875 1.2470 1.475- 1.605- 1.435- 1.485- : 1.525 1.645 1.535 1.585 : Butter : 1.5405 1.2193 1.325- 1.370- 1.330- 1.350- : 1.405 1.440 1.460 1.480 : Nonfat dry milk : 0.9409 0.8874 1.375- 1.610- 1.410- 1.560- : 1.415 1.650 1.480 1.630 : Dry whey : 0.2782 0.3285 0.680- 0.685- 0.660- 0.650- : 0.710 0.705 0.690 0.680 : : Dollars per cwt Milk Prices 2/ : Class III : 14.05 11.89 16.05- 17.30- 15.50- 15.95- : 16.55 17.70 16.50 16.95 : Class IV : 12.87 11.06 15.60- 17.85- 15.90- 17.25- : 16.20 18.35 17.00 18.35 : All milk 3/ : 15.13 12.90 17.05- 18.55- 17.00- 17.90- : 17.55 18.95 18.00 18.90 : =============================================================================== 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-447-35 Note: Tables on pages 35-37 present a 26-year record of the differences between the June projection and the final estimate. Using world wheat production as an example, changes between the June projection and the final estimate have averaged 15.4 million tons (2.8%) ranging from -32.2 to 29.6 million tons. The June projection has been below the estimate 15 times and above 11 times. Reliability of June 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 : 2.8 15.4 -32.2 29.6 15 11 U.S. : 4.5 2.7 -7.4 8.4 14 12 Foreign : 3.0 14.2 -28.8 28.2 14 12 Exports : World : 4.2 4.8 -16.6 12.3 16 9 U.S. : 8.2 2.7 -10.0 7.8 16 10 Foreign : 4.7 3.9 -11.6 6.5 18 8 Domestic use : World : 1.8 9.5 -27.5 19.6 17 9 U.S. : 5.7 1.8 -6.4 3.2 16 10 Foreign : 1.7 8.6 -24.2 18.1 17 9 Ending stocks : World : 9.6 12.5 -26.7 29.7 16 10 U.S. : 14.7 3.3 -9.6 14.9 14 12 Foreign : 9.9 10.3 -21.9 14.9 15 11 : COARSE GRAINS 3/ : Production : World : 2.9 23.9 -77.0 76.0 13 13 U.S. : 9.1 19.0 -35.9 70.3 12 14 Foreign : 2.3 13.7 -41.6 39.5 11 15 Exports : World : 5.9 6.2 -9.4 16.5 17 9 U.S. : 15.0 7.9 -22.8 15.3 10 16 Foreign : 12.6 6.5 -19.1 14.2 15 11 Domestic use : World : 1.6 13.2 -22.4 33.2 11 15 U.S. : 4.1 7.6 -16.6 33.0 17 9 Foreign : 1.5 9.9 -13.7 33.5 12 14 Ending stocks : World : 15.5 20.9 -69.9 48.0 16 10 U.S. : 34.7 17.2 -57.6 43.9 12 14 Foreign : 14.1 11.1 -30.5 14.0 18 8 : RICE, milled : Production : World : 2.1 7.3 -21.8 15.2 18 8 U.S. : 5.6 0.3 -1.1 0.5 15 11 Foreign : 2.1 7.2 -21.9 15.3 17 9 Exports : World : 8.4 1.7 -7.5 1.1 19 7 U.S. : 8.4 0.2 -1.0 0.7 13 10 Foreign : 9.1 1.6 -7.1 0.9 19 7 Domestic use : World : 1.6 5.6 -20.3 5.8 19 7 U.S. : 7.3 0.2 -0.5 0.5 11 15 Foreign : 1.6 5.6 -20.8 5.6 20 6 Ending stocks : World : 12.5 6.0 -15.7 8.2 17 9 U.S. : 28.0 0.3 -0.9 0.9 14 10 Foreign : 13.1 6.0 -15.3 8.3 18 8 =============================================================================== 1/ Footnotes at end of table. CONTINUED WASDE-447-36 Reliability of June Projections (Continued) =============================================================================== :Differences between proj. & final estimate,1981/82-2006/07 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== SOYBEANS 4/ :Percent Million metric tons Number of years 2/ Production : World : NA NA NA NA NA NA U.S. : 7.5 4.5 -11.3 12.0 13 13 Foreign : NA NA NA NA NA NA Exports : World : NA NA NA NA NA NA U.S. : 12.7 2.6 -6.4 6.4 14 12 Foreign : NA NA NA NA NA NA Domestic use : World : NA NA NA NA NA NA U.S. : 5.6 2.2 -7.2 4.5 18 8 Foreign : NA NA NA NA NA NA Ending stocks : World : NA NA NA NA NA NA U.S. : 45.5 3.1 -7.1 8.4 8 18 Foreign : NA NA NA NA NA NA : COTTON : Million 480-pound bales Production : World : 4.6 4.2 -16.4 11.4 16 9 U.S. : 9.5 1.6 -5.6 3.1 13 13 Foreign : 4.5 3.3 -12.4 10.5 15 11 Exports : World : 6.3 1.8 -6.5 5.8 13 13 U.S. : 19.6 1.3 -3.0 3.6 17 9 Foreign : 6.4 1.2 -3.5 2.3 12 14 Mill use : World : 2.7 2.4 -8.1 4.5 12 14 U.S. : 8.1 0.6 -1.4 1.3 14 11 Foreign : 2.9 2.3 -7.6 4.3 15 11 Ending stocks : World : 15.6 5.9 -14.3 15.2 18 8 U.S. : 33.9 1.6 -4.6 3.5 13 13 Foreign : 14.7 4.8 -13.4 12.5 19 7 =============================================================================== 1/ Final estimate for 1981/82-2005/06 is defined as the first November estimate following the marketing year and for 2006/07 last month's estimate. 2/ May not total 26 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. 4/ Global soybean supply and use projections were initially released June 2004. Therefore, an insufficient number of observations are available to provide meaningful reliabililty statistics for global soybean supply and use. WASDE-447-37 Reliability of United States June 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 : 11.0 772 -3327 2379 13 13 Exports : 16.3 294 -850 588 11 15 Domestic use : 7.4 514 -5888 1095 17 9 Ending stocks : 41.0 610 -2091 1460 12 14 : SORGHUM : Production : 16.1 96 -228 171 10 15 Exports : 18.3 41 -105 97 11 15 Domestic use : 15.3 57 -139 100 12 14 Ending stocks : 47.0 61 -189 191 9 17 : BARLEY : Production : 10.0 35 -73 206 8 18 Exports : 32.7 17 -92 53 14 10 Domestic use : 10.7 37 -72 95 14 12 Ending stocks : 17.4 26 -59 79 10 16 : OATS : Production : 16.9 40 -77 231 6 20 Exports : 71.5 2 -5 8 7 10 Domestic use : 7.8 26 -39 160 9 17 Ending stocks : 17.0 18 -59 77 6 18 : : Thousand short tons SOYBEAN MEAL : Production : 4.6 1393 -3721 4432 17 9 Exports : 17.1 1087 -2650 1964 15 11 Domestic use : 3.5 815 -1800 2259 14 12 Ending stocks : 30.5 73 -204 488 12 13 : : Million pounds SOYBEAN OIL : Production : 4.7 681 -1923 1553 17 9 Exports : 25.8 415 -1700 914 13 13 Domestic use : 2.9 376 -985 758 17 8 Ending stocks : 33.6 516 -1432 1288 13 12 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 1.5 377 -569 819 17 8 Pork : 1.7 281 -579 676 16 9 Broilers : 1.0 230 -507 596 14 10 Turkeys : 1.3 58 -210 116 15 10 : : Million dozen Eggs : 0.8 52 -83 125 18 7 : : Billion pounds Milk : 0.7 1.1 -3.6 3.9 13 12 =============================================================================== 1/ See pages 35 and 36 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-2005/06 is defined as the first November estimate following the marketing year and for 2006/07 last month's estimate. 3/ May not total 26 for crops and 25 for animal production if projection was the same as the final estimate. 4/ Calendar years 1982 thru 2006 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS. ------------- End of File -----------------