ISSN:1554-9089 WASDE-443 February 9, 2007 WHEAT: U.S. wheat supply, use, and stocks projections for 2006/07 are unchanged this month. The season-average farm price is projected at $4.20 to $4.30 per bushel, up 5 cents on the lower end of the range and down 15 cents on the upper end from last month. Global 2006/07 wheat production is projected 1.3 million tons higher this month, due to upward adjustments in FSU-12 that more than offset reductions in EU-25. The largest production changes are a 2.0-million-ton increase in Kazakhstan and a 0.7-million-ton decrease in EU-25. Global consumption is raised 1.8 million tons with increases in Canada, EU-25, and FSU-12. The increase in Canada reflects stronger feeding use as implied by recently released stock data. Consumption is lowered for Libya and Turkey and results in lower expected imports for these countries. Exports for Russia are raised 0.5 million tons as exports for EU-25 are lowered the same amount. Smaller changes in a number of other countries result in the small month-to- month increase in world exports. Global ending stocks for 2006/07 are lowered 1.0 million tons. Stocks are lowered for Canada and EU-25. Despite reductions for Russia, Ukraine, and Uzbekistan, stocks rise in FSU-12 as increases are projected for other member states, especially Kazakhstan. COARSE GRAINS: U.S. supply, use, and stocks projections for 2006/07 corn, barley, and oats are unchanged this month. Corn exports are unchanged this month despite stronger competition from South America supplies as Mexico corn imports are increased. U.S. sorghum exports are lowered 5 million bushels based on slowing U.S. shipments and sales to Mexico even as corn shipments and sales remain strong. Projections for the corn and oats season-average farm prices are unchanged this month at $3.00 to $3.40 per bushel and $1.75 to $1.95 per bushel, respectively. The barley price range is lowered 10 cents on the top end to $2.75 to $2.95 per bushel reflecting prices received by producers to date. The sorghum price range is projected 10 cents higher on both ends of the range to $3.10 to $3.50 per bushel. Sorghum prices are forecast above corn prices this month as less sorghum forward contracting, compared with corn, has kept average prices received by producers higher for sorghum than for corn. Also boosting sorghum prices relative to corn are high feed grain prices in the Southern Plains where a substantial portion of the sorghum crop is produced and marketed. Global 2006/07 coarse grain production is raised 4.8 million tons this month on improved prospects for corn crops in South America. Corn production for Argentina is raised 2 million tons to 21 million. Brazil corn production is raised 4 million tons to 46 million. Both increases are based on good growing season weather as reflected in recent area and yield indications. Supportive weather and higher prices also favor increased area for second-crop corn in Brazil. Partly offsetting these increases is a 0.5-million-ton decrease for South Africa corn production. South Africa corn output is projected at 9.5 million tons on lower reported area and declining yield prospects as heat and dryness have stressed crops in the western Maize Triangle. Other coarse grain production changes include reductions for Australia sorghum; Ukraine barley, oats, and corn; and Turkey corn. Other production increases include Kazakhstan barley and India corn. World coarse grain consumption is raised 3 million tons this month as improving supply prospects support stronger global use. Corn feed use for Brazil is revised higher for 2005/06 and projected higher for 2006/07 based on indications of stronger poultry and hog feeding demand. Global coarse grain exports are raised 2.8 million tons with the biggest increases for Argentina and Brazil corn. Corn imports for Mexico are raised 0.7 million tons this month based on the strong pace of shipments and sales from the United States. Canada corn imports, however, are lowered 0.3 million tons reflecting sharply higher wheat feeding. Global coarse grain ending stocks are raised 1.3 million tons with a 1.5-million-ton increase in corn stocks offset by slightly lower barley and sorghum stocks. RICE: Only minor changes are made to the U.S. 2006/07 rice supply and use projections from a month ago. On the supply side, all rice imports are raised 0.5 million cwt to 18.5 million cwt with combined medium- and short-grain imports raised 1.0 million cwt while long- grain imports are lowered 0.5 million cwt. On the use side, all rice exports are unchanged at 102 million cwt. However, exports of rough rice are lowered 2 million cwt and entirely offset by an increase in the exports of milled and brown rice (on a rough-equivalent basis). Ending stocks are raised slightly to 30.4 million cwt with long- grain stocks projected at 21.6 million cwt, and combined medium- and short-grain stocks projected at 7.9 million cwt. The season-average farm price range is lowered 5 cents per cwt on the low end and 15 cents on the high end to $9.65 to $9.85 per cwt, which compares to a revised $7.65 per cwt in 2005/06. Global 2006/07 rice production, trade, and ending stocks are raised from a month ago. The slight increase in global rice production is due mostly to a larger crop projected for Vietnam. Imports are raised slightly due to increases for EU-25 and the United States, while imports for Russia are reduced slightly. China exports are raised from a month ago. World rice ending stocks for 2006/07 are projected at 78.9 million tons, up 1.1 million tons from last month, down 2.4 million tons from 2005/06, and the lowest stocks since 1983/84. OILSEEDS: U.S. soybean exports for 2006/07 are projected at 1.1 billion bushels, down 20 million from last month, but still record high. This month's reduction is based on increased South America supply prospects and reduced global import demand. China projected soybean imports are reduced to 31 million tons, reflecting a slow start to the 2006/07 marketing year. With soybean crush unchanged, projected ending stocks for 2006/07 are increased to a record 595 million bushels. U.S. soybean and soybean product price projections for 2006/07 are raised this month. The U.S. season- average soybean price range is projected at $5.90 to $6.50 per bushel, compared with $5.75 to $6.45 per bushel last month. Soybean meal prices are projected at $180 to $195 per short ton, up $10 on both ends of the range. Soybean oil prices are projected at 27.5 to 29.5 cents per pound, up 1 cent on both ends of the range. Soybean oil prices remain relatively high despite U.S. soybean oil stocks approaching record levels in November and December. Global oilseed production for 2006/07 is projected at 397.2 million tons, up 1.8 million tons from last month. Global soybean production is projected at a record 228.4 million tons, up 1.6 million tons from last month. The Argentina crop is raised 1.5 million tons to 44 million tons based on slightly higher harvested area and improved yield prospects. Yields are projected at 2.79 tons per hectare, just below the record set in 2003. Soybean production is also raised for Russia and Ukraine. Other oilseed production changes include increased sunflowerseed production for Ukraine, higher cottonseed production for China, and reduced cottonseed production for several African countries. Global oilseed stocks are projected at a record 63.8 million tons, up 0.9 million tons from last month. Increased soybean stocks in South America account for most of the change. Global vegetable oil stocks are also increased slightly, but remain near 30-year lows relative to use. SUGAR: Projected 2006/07 U.S. sugar supply is decreased 156,000 short tons, raw value, from last month, due to lower production and imports. Production is decreased 17,000 tons, based on processor estimates compiled by the Farm Service Agency. Imports under the tariff rate quota are decreased 114,000 tons: 100,000 tons from Mexico based on reduced production potential and 14,000 tons from Costa Rica. Imports for re-export are reduced 25,000 tons based on a slower than expected pace to date. Total sugar use is reduced 50,000 tons, as lower deliveries for domestic food use more than offset higher exports; both changes are based on pace to date. LIVESTOCK, POULTRY, AND DAIRY: Total U.S. meat production for 2006 is reduced fractionally from last month based on lower estimated fourth quarter slaughter. Forecast meat production for 2007 is lowered from last month mainly due to smaller beef and broiler output. The recent Cattle report indicated that there was little expansion of the cattle herd in 2006. Total cattle inventory was slightly higher on January 1, 2007, but the 2006 inventory was revised down. The 2006 calf crop was fractionally below the previous year. Assuming pasture conditions improve in the spring, relatively high grain prices will encourage cattle to remain on grass longer and slow feedlot placements. Thus, beef production forecasts for later in the year are reduced. Pork production forecasts are unchanged from last month. Broiler production for 2007 is reduced throughout the year. Recent broiler hatchery data point to production restraint through the first half of 2007. Turkey production forecasts are unchanged. Egg production forecasts are reduced for the first half of 2007. Price forecasts for 2007 are unchanged for cattle and turkeys, but prices are higher for hogs, broilers, and eggs. Firm demand for pork is supporting hog prices higher than expected and price forecasts are raised to reflect continued demand conditions and additional support from higher broiler prices. As broiler meat supplies are forecast lower than last month, prices are forecast higher. Egg prices are forecast higher on slower expected production growth. Beef, pork, and poultry trade forecasts for 2006 and 2007 are unchanged from last month. The milk production forecasts for 2006 and 2007 are raised from last month. The recent Milk Production and Cattle reports indicated that the dairy herd remains above last year and producers reported a slightly larger number of replacement dairy heifers. Thus, forecast cow numbers are increased from last month, but the increase will likely be tempered by the recently announced herd buyout by Cooperatives Working Together and higher feed costs. The 2007 forecast continues to assume a declining cow herd from the previous year, albeit at a slower pace than forecast last month. With a slight increase in milk per cow growth and higher overall cow numbers, the milk production forecast is increased 1.3 billion pounds from last month. Despite higher production, milk prices are forecast higher. Demand for dairy products remains firm, although the butter price is reduced slightly on expectations of ample supplies. Cheese price forecasts are slightly higher compared with last month as demand remains strong. However, nonfat dry milk (NDM) and whey price forecasts are raised sharply. Demand for NDM and whey for both domestic ingredient use and international sales support strong prices. Supplies of these products in international markets are expected to remain tight until at least the second half of the year when the next production season in Oceania begins. The all milk price forecast for 2007 is raised to $14.35 to $15.05. COTTON: This month's 2006/07 U.S. cotton estimates include sharply lower exports and higher ending stocks. No changes are made to production or domestic mill use. The export forecast is reduced nearly 8 percent to 14.5 million bales due to a combination of lower total estimated imports by China and a lower expected U.S. share of the China market. Accordingly, ending stocks are raised 1.2 million bales to 8.3 million. The forecast stocks-to-use ratio of 43 percent is the largest since 1988/89. The world 2006/07 estimates include marginally lower production and marginally higher consumption relative to last month. Production increases for China and Pakistan are more than offset by reductions for Australia, Mali, and others. Consumption is raised mainly in Turkey, partially offset by a reduction for Brazil. World trade is reduced about 1 percent, with imports lower for China and India, but higher for Turkey. Lower forecast U.S. exports are nearly offset by higher exports by India. Despite lower production and higher consumption, world stocks are raised 1.3 percent due mainly to an increase in the residual supply factor for China. China's continued sluggish import demand suggests that domestic supplies are higher than previously estimated. 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: CHARLES F. CONNER ACTING SECRETARY OF AGRICULTURE USDA's 83rd Annual Outlook Forum Agriculture at the Crossroads: Energy, Farm & Rural Policy Crystal Gateway Marriott Hotel Arlington, Virginia March 1-2, 2007 USDA's 2007 Agricultural Outlook Forum explores renewable energy's future in biofuels, cellulosic, methane, and wind. The Forum's national conversation about agriculture centers on the fascinating opportunities and challenges of renewable energy in the next farm bill and beyond. The keynote address will be delivered by Secretary Johanns. Forum dinner speaker, Indiana Governor Mitch Daniels will explore "21st Century Economic Development Ä A Renewed Focus on Agriculture." "Renewable Energy Inroads to Agriculture," the Forum's plenary panel, includes Archer Daniels Midland President and CEO Patricia Woertz; Cargill Chairman and CEO Warren R. Staley; American Petroleum Institute President and Chairman Red Cavaney; and CHS, Inc. President and CEO John Johnson. Scott Kilman, of the Wall Street Journal, will moderate the panel. Chief Economist Keith Collins provides an overview of U.S. agriculture's economic outlook, with individual USDA sessions to address major commodities. Deputy Under Secretary for Farm and Foreign Agricultural Services A. Ellen Terpstra will address international agricultural trade. Stanford University's Tim Josling and William Cline of the Peterson Institute for International Economics discuss trade with developing countries. Addressing agricultural exports is William C. Motes of Informa Economics. Our trading partners also bring viewpoints from Sweden, Brazil, Japan, Australia, New Zealand, Mexico, Belgium, and France. Registration is $350. A full roster of speakers, program, and registration are available at www.usda.gov/oce/forum Plenary session speeches are Webcast after 3 p.m. on March 1 at that site. 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-443-8 World and U.S. Supply and Use for Grains 1/ Million Metric Tons =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : World Total grains 3/ : 2004/05 : 2,043.13 2,401.08 241.12 1,993.69 407.39 2005/06 (Est.) : 2,014.01 2,421.40 251.67 2,026.75 394.65 2006/07 (Proj.) : January : 1,968.16 2,362.97 244.04 2,045.44 317.53 February : 1,974.50 2,369.15 247.18 2,050.22 318.93 Wheat : 2004/05 : 628.58 761.26 111.12 610.05 151.22 2005/06 (Est.) : 620.13 771.34 116.86 624.42 146.93 2006/07 (Proj.) : January : 590.75 738.18 108.88 616.35 121.83 February : 592.03 738.95 109.04 618.16 120.80 Coarse grains 4/ : 2004/05 : 1,014.07 1,153.95 101.64 975.92 178.03 2005/06 (Est.) : 977.60 1,155.63 106.89 989.19 166.44 2006/07 (Proj.) : January : 962.38 1,129.33 106.24 1,011.35 117.98 February : 967.21 1,133.64 109.01 1,014.36 119.28 Rice, milled : 2004/05 : 400.47 485.87 28.36 407.72 78.15 2005/06 (Est.) : 416.28 494.43 27.92 413.14 81.29 2006/07 (Proj.) : January : 415.02 495.47 28.92 417.74 77.73 February : 415.27 496.56 29.12 417.71 78.85 : : United States Total grains 3/ : 2004/05 : 385.62 434.59 83.91 275.97 74.71 2005/06 (Est.) : 363.16 442.69 91.28 279.73 71.68 2006/07 (Proj.) : January : 335.58 413.48 88.72 288.69 36.07 February : 335.58 413.50 88.59 288.69 36.21 Wheat : 2004/05 : 58.74 75.53 29.01 31.82 14.70 2005/06 (Est.) : 57.28 74.20 27.47 31.19 15.55 2006/07 (Proj.) : January : 49.32 67.99 23.81 31.33 12.85 February : 49.32 67.99 23.81 31.33 12.85 Coarse grains 4/ : 2004/05 : 319.42 350.42 51.41 240.22 58.80 2005/06 (Est.) : 298.76 359.62 60.13 244.73 54.77 2006/07 (Proj.) : January : 280.11 337.40 61.67 253.46 22.27 February : 280.11 337.40 61.54 253.46 22.40 Rice, milled : 2004/05 : 7.46 8.64 3.50 3.94 1.21 2005/06 (Est.) : 7.11 8.87 3.69 3.81 1.37 2006/07 (Proj.) : January : 6.15 8.09 3.24 3.91 0.95 February : 6.15 8.11 3.24 3.90 0.97 =============================================================================== 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-443-9 World and U.S. Supply and Use for Grains, Continued 1/ Million Metric Tons =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : Foreign 3/ Total grains 4/ : 2004/05 : 1,657.51 1,966.49 157.21 1,717.72 332.68 2005/06 (Est.) : 1,650.85 1,978.71 160.39 1,747.02 322.97 2006/07 (Proj.) : January : 1,632.58 1,949.49 155.32 1,756.74 281.46 February : 1,638.92 1,955.66 158.58 1,761.53 282.72 Wheat : 2004/05 : 569.85 685.73 82.11 578.22 136.52 2005/06 (Est.) : 562.85 697.14 89.40 593.23 131.38 2006/07 (Proj.) : January : 541.44 670.19 85.07 585.03 108.97 February : 542.71 670.96 85.23 586.83 107.94 Coarse grains 5/ : 2004/05 : 694.65 803.53 50.23 735.71 119.23 2005/06 (Est.) : 678.83 796.01 46.76 744.46 111.67 2006/07 (Proj.) : January : 682.27 791.93 44.58 757.89 95.71 February : 687.09 796.25 47.48 760.90 96.89 Rice, milled : 2004/05 : 393.01 477.23 24.86 403.79 76.94 2005/06 (Est.) : 409.17 485.56 24.23 409.33 79.92 2006/07 (Proj.) : January : 408.87 487.37 25.68 413.83 76.78 February : 409.12 488.45 25.88 413.80 77.89 =============================================================================== 1/ Aggregate of local marketing years. 2/ Based on export estimate. See individual commodity tables for treatment of export/import imbalances. 3/ Total foreign is equal to world minus United States. 4/ Wheat, coarse grains and milled rice. 5/ Corn, sorghum, barley, oats, rye, millet and mixed grains. World and U.S. Supply and Use for Cotton 1/ Million 480-lb. bales =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : World 2004/05 : 120.19 163.23 34.98 108.82 53.94 2005/06 (Est.) : 114.13 168.07 44.57 115.80 54.31 2006/07 (Proj.) : January : 116.72 171.05 40.33 121.17 52.26 February : 116.56 170.87 39.98 121.35 52.92 : United States 2004/05 : 23.25 26.73 14.44 6.69 5.50 2005/06 (Est.) : 23.89 29.41 18.04 5.89 6.05 2006/07 (Proj.) : January : 21.73 27.80 15.70 5.00 7.10 February : 21.73 27.80 14.50 5.00 8.30 : Foreign 3/ 2004/05 : 96.94 136.49 20.54 102.13 48.45 2005/06 (Est.) : 90.24 138.66 26.54 109.91 48.26 2006/07 (Proj.) : January : 94.99 143.24 24.63 116.17 45.16 February : 94.83 143.06 25.48 116.35 44.62 =============================================================================== 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-443-10 World and U.S. Supply and Use for Oilseeds 1/ (Million Metric Tons) =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade : Use 2/ : Stocks =============================================================================== : : World Oilseeds : 2004/05 : 381.01 425.02 74.58 301.87 56.44 2005/06 (Est.) : 388.24 444.68 76.70 316.94 61.73 2006/07 (Proj.) : January : 395.43 457.09 82.68 329.33 62.87 February : 397.18 458.91 82.50 330.09 63.75 Oilmeals : 2004/05 : 205.75 212.37 60.38 204.28 7.53 2005/06 (Est.) : 214.59 222.12 65.79 214.35 6.19 2006/07 (Proj.) : January : 224.47 230.64 67.96 224.26 5.42 February : 224.92 231.11 67.82 223.40 5.94 Vegetable Oils : 2004/05 : 111.39 119.76 42.53 108.23 9.91 2005/06 (Est.) : 117.97 127.88 46.01 115.36 10.01 2006/07 (Proj.) : January : 123.69 133.64 48.33 122.08 9.72 February : 124.05 134.06 48.52 122.10 9.78 : : United States Oilseeds : 2004/05 : 95.94 100.77 30.71 50.17 8.29 2005/06 (Est.) : 95.53 104.49 26.81 51.90 14.20 2006/07 (Proj.) : January : 96.88 111.95 31.53 52.99 17.05 February : 96.88 112.02 31.02 53.10 17.49 Oilmeals : 2004/05 : 39.27 41.07 6.96 33.90 0.22 2005/06 (Est.) : 40.02 41.90 7.65 33.90 0.35 2006/07 (Proj.) : January : 41.10 43.12 8.17 34.63 0.33 February : 41.14 43.16 8.19 34.64 0.33 Vegetable Oils : 2004/05 : 9.76 12.39 0.84 10.45 1.09 2005/06 (Est.) : 10.42 13.91 0.90 11.21 1.80 2006/07 (Proj.) : January : 10.33 14.67 1.01 12.11 1.55 February : 10.38 14.64 1.09 11.99 1.55 : : Foreign 3/ Oilseeds : 2004/05 : 285.07 324.25 43.87 251.70 48.15 2005/06 (Est.) : 292.71 340.19 49.89 265.04 47.53 2006/07 (Proj.) : January : 298.55 345.14 51.14 276.35 45.82 February : 300.30 346.90 51.48 276.99 46.26 Oilmeals : 2004/05 : 166.49 171.29 53.43 170.38 7.32 2005/06 (Est.) : 174.56 180.22 58.14 180.45 5.84 2006/07 (Proj.) : January : 183.37 187.51 59.79 189.64 5.09 February : 183.79 187.95 59.63 188.75 5.62 Vegetable Oils : 2004/05 : 101.64 107.38 41.69 97.77 8.82 2005/06 (Est.) : 107.54 113.97 45.11 104.16 8.21 2006/07 (Proj.) : January : 113.36 118.97 47.32 109.97 8.17 February : 113.67 119.42 47.43 110.10 8.23 =============================================================================== 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-443-11 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : January February =============================================================================== Area : Million acres Planted : 59.7 57.2 57.3 57.3 Harvested : 50.0 50.1 46.8 46.8 Yield per harvested : Bushels acre : 43.2 42.0 38.7 38.7 : Million bushels Beginning stocks : 546 540 571 571 Production : 2,158 2,105 1,812 1,812 Imports : 71 82 115 115 Supply, total : 2,775 2,727 2,498 2,498 Food : 910 915 925 925 Seed : 78 78 81 81 Feed and residual : 182 153 145 145 Domestic, total : 1,169 1,146 1,151 1,151 Exports : 1,066 1,009 875 875 Use, total : 2,235 2,155 2,026 2,026 Ending stocks : 540 571 472 472 CCC inventory : 54 43 35 35 Free stocks : 486 528 437 437 Outstanding loans : 58 42 15 15 Avg. farm price ($/bu) 2/ : 3.40 3.42 4.15- 4.45 4.20- 4.30 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 2005/06 (estimated) : Million bushels Beginning stocks : 193 159 88 63 38 540 Production : 930 467 309 298 101 2,105 Supply, total 3/ : 1,123 638 424 371 171 2,727 Domestic use : 478 225 241 118 84 1,146 Exports : 430 282 76 175 47 1,009 Use, total : 908 506 318 293 131 2,155 Ending stocks, total : 215 132 106 78 40 571 : 2006/07 (projected) : Beginning stocks : 215 132 106 78 40 571 Production : 682 432 390 254 53 1,812 Supply, total 3/ : 898 613 511 342 134 2,498 Domestic use : 466 229 282 96 78 1,151 Exports : 265 250 130 200 30 875 Use, total : 731 479 412 296 108 2,026 Ending stocks, total : February : 167 134 100 46 26 472 January : 167 134 100 46 26 472 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning June 1. 2/ Marketing-year weighted average price received by farmers. 3/ Includes imports. WASDE-443-12 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : January February =============================================================================== FEED GRAINS : Area : Million acres Planted : 97.0 96.4 92.5 92.5 Harvested : 86.0 85.9 80.1 80.1 Yield per harvested : Metric tons acre : 3.71 3.47 3.49 3.49 : Million metric tons Beginning stocks : 28.7 58.8 54.7 54.7 Production : 319.2 298.6 279.9 279.9 Imports : 2.1 1.9 2.4 2.4 Supply, total : 350.1 359.3 337.1 337.1 Feed and residual : 165.8 162.9 157.8 157.8 Food, seed & industrial : 74.1 81.5 95.4 95.4 Domestic, total : 239.9 244.4 253.2 253.2 Exports : 51.4 60.1 61.7 61.5 Use, total : 291.3 304.5 314.8 314.7 Ending stocks, total : 58.8 54.7 22.3 22.4 CCC inventory : 0.0 0.0 0.0 0.0 Free stocks : 58.8 54.7 22.3 22.4 Outstanding loans : 7.2 4.4 5.8 5.8 : CORN : Area : Million acres Planted : 80.9 81.8 78.3 78.3 Harvested : 73.6 75.1 70.6 70.6 Yield per harvested : Bushels acre : 160.4 148.0 149.1 149.1 : Million bushels Beginning stocks : 958 2,114 1,967 1,967 Production : 11,807 11,114 10,535 10,535 Imports : 11 9 10 10 Supply, total : 12,776 13,237 12,512 12,512 Feed and residual : 6,158 6,141 5,975 5,975 Food, seed & industrial : 2,686 2,981 3,535 3,535 Ethanol for fuel 2/ : 1,323 1,603 2,150 2,150 Domestic, total : 8,844 9,122 9,510 9,510 Exports : 1,818 2,147 2,250 2,250 Use, total : 10,662 11,270 11,760 11,760 Ending stocks, total : 2,114 1,967 752 752 CCC inventory : 1 0 0 0 Free stocks : 2,113 1,967 752 752 Outstanding loans : 280 171 225 225 Avg. farm price ($/bu) 3/ : 2.06 2.00 3.00- 3.40 3.00- 3.40 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a further breakout of FSI corn uses including ethanol, see the Feed Outlook table 5 or access the data on the Web through the Feed Grain Data Delivery System (http://www.ers.usda.gov/db/feedgrains/). 3/ Marketing-year weighted average price received by farmers. WASDE-443-13 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : January February =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 7.5 6.5 6.5 6.5 Area harv. (mil. acres) : 6.5 5.7 4.9 4.9 Yield (bushels/acre) : 69.6 68.5 56.2 56.2 Beginning stocks : 34 57 66 66 Production : 454 393 278 278 Imports : 0 0 0 0 Supply, total : 487 450 343 343 Feed and residual : 191 140 110 110 Food, seed & industrial : 55 50 45 45 Total domestic : 246 190 155 155 Exports : 184 195 155 150 Use, total : 430 384 310 305 Ending stocks, total : 57 66 33 38 Avg. farm price ($/bu) 2/ : 1.79 1.86 3.00- 3.40 3.10- 3.50 : BARLEY : Area planted (mil. acres) : 4.5 3.9 3.5 3.5 Area harv. (mil. acres) : 4.0 3.3 3.0 3.0 Yield (bushels/acre) : 69.6 64.8 61.0 61.0 Beginning stocks : 120 128 108 108 Production : 280 212 180 180 Imports : 12 5 15 15 Supply, total : 412 346 303 303 Feed and residual : 103 52 50 50 Food, seed & industrial : 158 158 155 155 Total domestic : 261 210 205 205 Exports : 23 28 25 25 Use, total : 284 238 230 230 Ending stocks, total : 128 108 73 73 Avg. farm price ($/bu) 2/ : 2.48 2.53 2.75- 3.05 2.75- 2.95 : OATS : Area planted (mil. acres) : 4.1 4.2 4.2 4.2 Area harv. (mil. acres) : 1.8 1.8 1.6 1.6 Yield (bushels/acre) : 64.7 63.0 59.5 59.5 Beginning stocks : 65 58 53 53 Production : 116 115 94 94 Imports : 90 91 105 105 Supply, total : 271 264 251 251 Feed and residual : 136 136 125 125 Food, seed & industrial : 74 74 75 75 Total domestic : 210 209 200 200 Exports : 3 2 2 2 Use, total : 213 211 202 202 Ending stocks, total : 58 53 49 49 Avg. farm price ($/bu) 2/ : 1.48 1.63 1.75- 1.95 1.75- 1.95 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for sorghum, June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. WASDE-443-14 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : January February =============================================================================== TOTAL : Area : Million acres Planted : 3.35 3.38 2.84 2.84 Harvested : 3.33 3.36 2.82 2.82 Yield per harvested : Pounds acre : 6,988 6,636 6,868 6,868 : : Million hundredweight : Beginning stocks 2/ : 23.7 37.7 43.0 43.0 Production : 232.4 223.2 193.7 193.7 Imports : 13.2 17.1 18.0 18.5 Supply, total : 269.2 278.1 254.7 255.2 Domestic & residual 3/ : 122.7 119.3 122.8 122.8 Exports, total 4/ : 108.8 115.8 102.0 102.0 Rough : 33.8 34.1 38.0 36.0 Milled (rough equiv.) : 75.0 81.6 64.0 66.0 Use, total : 231.5 235.1 224.8 224.8 Ending stocks : 37.7 43.0 29.9 30.4 Avg. milling yield (%) 5/ : 70.8 70.2 70.0 70.0 Avg. farm price ($/cwt) 6/ : 7.33 7.65 9.70-10.00 9.65- 9.85 : LONG GRAIN : Harvested acres (mil.) : 2.57 2.73 2.19 2.19 Yield (pounds/acre) : 6,630 6,493 6,689 6,689 Beginning stocks : 10.3 22.7 32.7 32.7 Production : 170.4 177.5 146.2 146.2 Supply, total 7/ : 191.3 212.5 191.9 191.4 Domestic & Residual 3/ : 84.7 86.9 89.8 89.8 Exports 8/ : 83.8 93.0 80.0 80.0 Use, total : 168.5 179.9 169.8 169.8 Ending stocks : 22.7 32.7 22.1 21.6 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.75 0.63 0.64 0.64 Yield (pounds/acre) : 8,212 7,255 7,484 7,484 Beginning stocks : 12.4 13.8 9.4 9.4 Production : 61.9 45.7 47.5 47.5 Supply, total 7/ : 76.8 64.7 62.0 63.0 Domestic & Residual 3/ : 38.0 32.5 33.1 33.1 Exports 8/ : 25.0 22.8 22.0 22.0 Use, total : 63.0 55.2 55.1 55.1 Ending stocks : 13.8 9.4 6.9 7.9 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning August 1. 2/ Includes the following quantities of broken kernel rice (type undetermined) not included in estimates of beginning stocks by type (in mil. cwt): 2004/05-1.0; 2005/06-1.1; 2006/07-0.9. 3/ Residual includes unreported use, processing losses, and estimating errors. Use by type may not add to total rice use because of the difference in brokens between beginning and ending stocks. 4/ Includes rough rice and milled rice exports. Milled rice exports are converted to an equivalent rough basis. 5/ Expressed as a percent, i.e., the total quantity of whole kernel and broken rice produced divided by the quantity of rough rice milled. 6/ Marketing-year weighted average price received by farmers. 7/ Includes imports. 8/ Exports by type of rice are estimated. WASDE-443-15 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :=============================== : : Est. : January February =============================================================================== SOYBEANS: : Million acres Area : Planted : 75.2 72.0 75.5 75.5 Harvested : 74.0 71.3 74.6 74.6 : : Bushels Yield per harvested : acre : 42.2 43.0 42.7 42.7 : : Million bushels : Beginning stocks : 112 256 449 449 Production : 3,124 3,063 3,188 3,188 Imports : 6 3 4 4 Supply, total : 3,242 3,322 3,642 3,642 Crushings : 1,696 1,739 1,780 1,780 Exports : 1,097 947 1,120 1,100 Seed : 88 93 91 91 Residual : 104 94 75 75 Use, total : 2,986 2,873 3,066 3,046 Ending stocks : 256 449 575 595 Avg. farm price ($/bu) 2/ : 5.74 5.66 5.75- 6.45 5.90 - 6.50 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,076 1,699 3,019 3,019 Production : 19,360 20,393 20,165 20,165 Imports : 26 35 55 55 Supply, total : 20,462 22,127 23,239 23,239 Domestic : 17,439 17,955 19,100 19,050 Exports : 1,324 1,153 1,450 1,500 Use, total : 18,763 19,108 20,550 20,550 Ending stocks : 1,699 3,019 2,689 2,689 Average price (c/lb) 2/ : 23.01 23.41 26.50- 27.50- : 28.50 29.50 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 211 172 314 314 Production : 40,715 41,242 42,421 42,421 Imports : 147 141 165 165 Supply, total : 41,073 41,555 42,900 42,900 Domestic : 33,561 33,176 33,900 33,900 Exports : 7,340 8,064 8,700 8,700 Use, total : 40,901 41,241 42,600 42,600 Ending stocks : 172 314 300 300 Average price ($/s.t.) 2/ : 182.89 174.17 170.00- 180.00- : 185.00 195.00 =============================================================================== Note: Reliability calculations at end of report. 1/ Marketing year beginning September 1 for soybeans; October 1 for soybean oil and meal. 2/ Prices: Soybeans, marketing year weighted average price received by farmers; for Oil, simple average of crude soybean oil, Decatur; for Meal, simple average of 48 percent, Decatur. WASDE-443-16 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 2006/07 Projection Item : 2004/05 : 2005/06 :====================== : : Estimate : January February ====================================================================== : 1,000 short tons, raw value : Beginning stocks : 1,897 1,332 1,698 1,698 Production 2/ : 7,877 7,399 8,615 8,598 Beet sugar : 4,611 4,444 5,078 5,059 Cane sugar : 3,266 2,955 3,537 3,539 Florida : 1,693 1,367 1,756 1,756 Hawaii : 258 223 248 249 Louisiana : 1,157 1,190 1,335 1,336 Texas : 158 175 198 198 Imports : 2,100 3,443 2,103 1,964 TRQ 3/ : 1,408 2,588 1,718 1,604 Other program 4/ : 500 349 325 300 Other 5/ : 192 506 60 60 Supply, total : 11,874 12,174 12,416 12,260 : Exports : 259 203 200 300 Deliveries : 10,188 10,341 10,415 10,265 Food : 10,019 10,184 10,250 10,100 Other 6/ : 169 157 165 165 Miscellaneous 7/ : 95 -68 0 0 Use, total : 10,542 10,476 10,615 10,565 Ending stocks : 1,332 1,698 1,801 1,695 : Stocks to use ratio : 12.6 16.2 17.0 16.0 ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. Historical data are from FSA, "Sweetener Market Data" (SMD) except imports (U.S. Customs Service, Census Bureau). 2/ Projections for 2006/07 are based on processors' submissions compiled by the Farm Service Agency. 3/ Actual arrivals under the tariff rate quota (TRQ) with late entries, early entries, and TRQ overfills assigned to the fiscal year in which they actually arrived. For 2006/07, includes shortfall of 275,000 tons. 4/ Includes sugar under the re-export and polyhydric alcohol programs. 5/ For 2005/06, high-tier (450) and other (56). For 2006/07, high-tier (50) and other (10). 6/ Transfers to sugar- containing products for reexport, and for nonedible alcohol and feed. 7/ Includes SMD miscellaneous uses and the difference between SMD imports and WASDE imports. WASDE-443-17 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :=============================== : : Est. : January February =============================================================================== : Million acres Area : Planted : 13.66 14.25 15.27 15.27 Harvested : 13.06 13.80 12.73 12.73 : : Pounds Yield per harvested : acre : 855 831 819 819 : : Million 480 pound bales : Beginning stocks 2/ : 3.45 5.50 6.05 6.05 Production : 23.25 23.89 21.73 21.73 Imports : 0.03 0.03 0.03 0.03 Supply, total : 26.73 29.41 27.80 27.80 Domestic use : 6.69 5.89 5.00 5.00 Exports : 14.44 18.04 15.70 14.50 Use, total : 21.13 23.92 20.70 19.50 Unaccounted 3/ : 0.11 -0.56 0.00 0.00 Ending stocks : 5.50 6.05 7.10 8.30 : Avg. farm price 4/ : 41.6 47.7 47.3 5/ =============================================================================== Note: Reliability calculations at end of report. 1/ Upland and extra-long staple; marketing year beginning August 1. Totals may not add due to rounding. 2/ Based on Bureau of Census data. 3/ Reflects the difference between the previous season's supply less total use and ending stocks based on Bureau of Census data. 4/ Cents per pound for upland cotton. 5/ Average price for August-December 2006. USDA is prohibited by law from publishing cotton price projections. =============================================================================== Notes: Public Law 106-78, signed October 22, 1999, requires the Secretary of Agriculture to estimate and report the U.S. upland cotton season-ending stocks-to-use ratio, excluding projected raw cotton imports but including the quantity of raw cotton imports that has been imported during the marketing year. Pursuant to this requirement, the estimated ratio for 2006/07 is 43.6 percent. A table including detail for upland and extra long staple (ELS) cotton will be posted by noon on WASDE report release days at: http://www.usda.gov/oce/commodity/wasde/index.htm WASDE-443-18 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2004/05 : World 3/ : 132.68 628.58 109.90 106.65 610.05 111.12 151.22 United States : 14.87 58.74 1.92 4.96 31.82 29.01 14.70 Total foreign : 117.81 569.85 107.98 101.70 578.22 82.11 136.52 Major exporters 4/ : 23.44 201.24 7.72 65.45 135.80 55.82 40.77 Argentina : 1.40 16.00 0.00 0.08 5.01 11.83 0.55 Australia : 5.36 22.60 0.08 3.50 6.20 14.74 7.09 Canada : 6.08 25.86 0.25 5.17 9.39 14.88 7.92 EU-25 5/ : 10.60 136.78 7.39 56.70 115.20 14.37 25.21 Major importers 6/ : 62.69 156.40 60.59 8.29 214.37 3.40 61.91 Brazil : 0.51 5.85 5.21 0.30 10.20 0.02 1.35 China : 43.29 91.95 6.75 4.00 102.00 1.17 38.82 Select. Mideast 7/ : 5.56 18.66 9.60 1.95 28.27 0.60 4.96 N. Africa 8/ : 7.47 17.17 18.41 0.30 32.61 0.21 10.22 Pakistan : 1.38 19.50 1.42 0.40 20.00 0.05 2.25 Southeast Asia 9/ : 2.03 0.00 9.75 0.91 9.30 0.43 2.05 Selected other : India : 6.90 72.15 0.01 0.50 72.84 2.12 4.10 FSU-12 : 10.99 86.58 4.55 20.81 72.88 15.19 14.05 Russia : 2.65 45.40 1.20 13.60 37.40 7.95 3.89 Kazakhstan : 3.78 9.95 0.02 2.70 7.40 2.70 3.64 Ukraine : 1.13 17.50 0.03 2.10 11.70 4.35 2.61 : : 2005/06 (Estimated) : World 3/ : 151.22 620.13 110.29 111.24 624.42 116.86 146.93 United States : 14.70 57.28 2.22 4.17 31.19 27.47 15.55 Total foreign : 136.52 562.85 108.07 107.07 593.23 89.40 131.38 Major exporters 4/ : 40.77 188.46 7.97 69.25 140.07 56.70 40.43 Argentina : 0.55 14.50 0.01 0.08 5.00 9.56 0.50 Australia : 7.09 24.50 0.08 3.70 6.40 16.01 9.26 Canada : 7.92 26.78 0.28 4.97 9.17 16.10 9.71 EU-25 5/ : 25.21 122.69 7.61 60.50 119.50 15.03 20.97 Major importers 6/ : 61.91 162.22 58.53 8.30 218.85 4.40 59.40 Brazil : 1.35 4.87 6.72 0.60 10.80 0.81 1.33 China : 38.82 97.45 1.02 3.50 101.00 1.40 34.89 Select. Mideast 7/ : 4.96 19.32 12.06 1.85 29.67 0.60 6.06 N. Africa 8/ : 10.22 15.18 18.44 0.30 33.79 0.22 9.84 Pakistan : 2.25 21.50 0.95 0.40 21.50 0.05 3.15 Southeast Asia 9/ : 2.05 0.00 10.33 1.23 10.01 0.38 1.99 Selected other : India : 4.10 68.64 0.03 0.30 69.97 0.80 2.00 FSU-12 : 14.05 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 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and the EU-25. 5/ Trade excludes intra-trade. 6/ Brazil, China, Japan, Mexico, N. Africa, Pakistan, selected Middle East, and Southeast Asia. 7/ Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and Oman. 8/ Algeria, Egypt, Libya, Morocco, and Tunisia. 9/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-443-19 World Wheat Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2006/07 (Projected) World 3/ : January : 147.42 590.75 109.75 105.28 616.35 108.88 121.83 February : 146.93 592.03 109.78 107.23 618.16 109.04 120.80 United States : January : 15.55 49.32 3.13 3.95 31.33 23.81 12.85 February : 15.55 49.32 3.13 3.95 31.33 23.81 12.85 Total foreign : January : 131.88 541.44 106.62 101.33 585.03 85.07 108.97 February : 131.38 542.71 106.65 103.28 586.83 85.23 107.94 Major exporters 4/ : January : 40.53 169.93 7.13 66.68 137.60 56.00 23.99 February : 40.43 169.27 7.13 68.08 138.97 55.50 22.37 Argentina Jan : 0.56 14.20 0.01 0.08 4.90 9.50 0.37 Feb : 0.50 14.20 0.01 0.08 4.90 9.50 0.31 Australia Jan : 9.26 10.50 0.08 4.20 6.90 10.50 2.43 Feb : 9.26 10.50 0.08 4.20 6.90 10.50 2.43 Canada Jan : 9.74 27.30 0.25 4.80 9.20 20.50 7.59 Feb : 9.71 27.30 0.25 5.80 10.17 20.50 6.59 EU-25 5/ Jan : 20.97 117.93 6.80 57.60 116.60 15.50 13.60 Feb : 20.97 117.27 6.80 58.00 117.00 15.00 13.04 Major importers 6/ : January : 59.40 168.54 53.93 7.73 219.89 5.17 56.81 February : 59.40 168.54 53.75 7.73 219.69 5.20 56.81 Brazil Jan : 1.33 2.25 7.50 0.10 10.40 0.03 0.66 Feb : 1.33 2.25 7.50 0.10 10.40 0.05 0.63 China Jan : 34.89 103.50 0.70 4.00 101.00 2.50 35.59 Feb : 34.89 103.50 0.70 4.00 101.00 2.50 35.59 Sel. Mideast 7/Jan : 6.06 18.80 9.98 1.40 29.44 0.60 4.80 Feb : 6.06 18.80 10.00 1.40 29.44 0.60 4.82 N. Africa 8/ Jan : 9.84 18.33 16.40 0.30 34.98 0.22 9.37 Feb : 9.84 18.33 16.20 0.30 34.78 0.22 9.37 Pakistan Jan : 3.15 21.70 0.20 0.40 21.90 0.50 2.65 Feb : 3.15 21.70 0.20 0.40 21.90 0.50 2.65 SE Asia 9/ Jan : 1.99 0.00 10.05 1.12 10.02 0.41 1.61 Feb : 1.99 0.00 10.05 1.12 10.02 0.41 1.61 Selected other : India Jan : 2.00 68.00 6.00 0.30 72.70 0.30 3.00 Feb : 2.00 68.00 6.00 0.30 72.70 0.30 3.00 FSU-12 Jan : 15.57 84.09 4.04 21.01 73.15 17.46 13.09 Feb : 15.17 86.07 4.44 21.56 73.90 17.99 13.79 Russia Jan : 3.81 44.90 1.20 14.10 37.30 9.50 3.11 Feb : 3.81 44.90 1.20 14.10 37.10 10.00 2.81 Kazakhstan Jan : 4.28 11.50 0.02 2.70 7.60 5.00 3.20 Feb : 4.28 13.50 0.02 2.80 8.10 5.00 4.70 Ukraine Jan : 2.41 14.30 0.10 2.10 11.50 2.80 2.51 Feb : 2.41 14.00 0.10 2.10 11.50 2.80 2.21 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and the EU-25. 5/ Trade excludes intra-trade. 6/ Brazil, China, Japan, Mexico, N. Africa, Pakistan, selected Middle East, and Southeast Asia. 7/ Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and Oman. 8/ Algeria, Egypt, Libya, Morocco, and Tunisia. 9/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-443-20 World Coarse Grain Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2004/05 : World 3/ : 139.88 1014.07 101.19 641.38 975.92 101.64 178.03 United States : 28.76 319.42 2.24 165.86 240.22 51.41 58.80 Total foreign : 111.12 694.65 98.95 475.52 735.71 50.23 119.23 Major exporters 4/ : 10.47 75.13 3.04 36.62 50.04 24.89 13.70 Argentina : 0.95 24.90 0.01 6.60 9.06 15.24 1.56 Australia : 2.25 11.57 0.00 5.61 6.88 4.62 2.32 Canada : 4.08 26.45 2.47 19.21 23.80 2.85 6.34 Major importers 5/ : 32.90 225.04 76.28 214.26 283.41 4.61 46.19 EU-25 6/ : 12.62 150.21 3.68 106.54 138.82 4.01 23.69 Japan : 1.85 0.20 19.71 15.05 19.88 0.00 1.88 Mexico : 5.77 28.95 8.98 22.13 38.28 0.03 5.40 N. Afr & Mideast 7/: 6.16 28.34 20.29 39.11 46.17 0.06 8.56 Saudi Arabia : 2.43 0.20 6.91 6.65 6.84 0.00 2.71 Southeast Asia 8/ : 1.62 16.73 3.24 13.37 19.38 0.52 1.69 South Korea : 1.34 0.34 8.71 6.66 9.01 0.00 1.38 Selected other : China : 45.48 138.25 2.07 100.21 141.17 7.62 37.02 Other Europe : 1.70 29.05 0.64 19.83 24.96 2.31 4.12 FSU-12 : 5.96 62.97 1.06 38.11 54.64 8.10 7.26 Russia : 2.93 29.60 0.68 19.00 29.40 1.13 2.67 Ukraine : 1.62 23.00 0.02 11.35 15.20 6.77 2.67 : : 2005/06 (Estimated) : World 3/ : 178.03 977.60 103.92 635.16 989.19 106.89 166.44 United States : 58.80 298.76 2.06 162.99 244.73 60.13 54.77 Total foreign : 119.23 678.83 101.86 472.17 744.46 46.76 111.67 Major exporters 4/ : 13.70 66.33 3.12 36.97 50.12 20.35 12.69 Argentina : 1.56 19.22 0.00 6.86 9.42 10.00 1.36 Australia : 2.32 13.76 0.00 5.89 7.17 5.65 3.27 Canada : 6.34 26.04 1.99 19.51 23.96 4.08 6.33 Major importers 5/ : 46.19 202.08 78.01 209.70 278.62 4.95 42.72 EU-25 6/ : 23.69 131.75 3.48 100.31 132.45 3.82 22.66 Japan : 1.88 0.19 19.77 15.16 19.99 0.00 1.84 Mexico : 5.40 25.83 9.94 21.20 37.61 0.21 3.36 N. Afr & Mideast 7/: 8.56 26.54 18.78 38.88 45.76 0.72 7.40 Saudi Arabia : 2.71 0.20 8.47 8.00 8.19 0.00 3.20 Southeast Asia 8/ : 1.69 17.18 4.41 15.03 20.89 0.20 2.19 South Korea : 1.38 0.33 8.55 6.56 8.91 0.00 1.35 Selected other : China : 37.02 147.70 2.31 103.12 147.46 3.76 35.81 Other Europe : 4.12 26.80 0.74 19.31 24.91 2.53 4.22 FSU-12 : 7.26 55.17 1.15 33.60 49.57 8.46 5.55 Russia : 2.67 27.60 0.61 17.65 27.70 1.78 1.39 Ukraine : 2.67 18.14 0.09 8.45 11.99 6.50 2.42 =============================================================================== 1/ Aggregate of local marketing years. Coarse grains include corn, sorghum, barley, oats, rye, millet, and mixed grains (for U.S. excludes millet and mixed grains). 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and South Africa. 5/ The EU-25, Mexico, Japan, selected North Africa and Middle East, South Korea, Southeast Asia, and Taiwan. 6/ Trade excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya, Morocco, Syria, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-443-21 World Coarse Grain Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2006/07 (Projected) World 3/ : January : 166.95 962.38 103.01 638.40 1011.35 106.24 117.98 February : 166.44 967.21 103.28 639.33 1014.36 109.01 119.28 United States : January : 54.77 280.11 2.52 157.83 253.46 61.67 22.27 February : 54.77 280.11 2.52 157.83 253.46 61.54 22.40 Total foreign : January : 112.18 682.27 100.49 480.58 757.89 44.58 95.71 February : 111.67 687.09 100.77 481.50 760.90 47.48 96.89 Major exporters 4/ : January : 12.64 65.36 3.00 37.80 51.79 19.78 9.43 February : 12.69 66.60 2.70 37.40 51.35 21.78 8.86 Argentina Jan : 1.36 23.57 0.00 7.71 10.37 12.91 1.66 Feb : 1.36 25.57 0.00 7.71 10.37 14.91 1.66 Australia Jan : 3.27 7.76 0.00 5.99 7.22 2.55 1.27 Feb : 3.27 7.56 0.00 5.89 7.12 2.55 1.17 Canada Jan : 6.33 23.49 2.37 19.34 24.56 3.55 4.09 Feb : 6.33 23.49 2.07 19.04 24.26 3.55 4.09 Major importers 5/ : January : 42.49 201.25 77.74 213.29 283.01 4.23 34.25 February : 42.72 201.09 78.49 213.44 283.16 4.33 34.82 EU-25 6/ Jan : 22.66 126.39 4.85 102.05 134.48 3.71 15.71 Feb : 22.66 126.42 4.90 102.00 134.43 3.81 15.74 Japan Jan : 1.84 0.17 19.50 14.97 19.90 0.00 1.61 Feb : 1.84 0.17 19.52 14.99 19.92 0.00 1.61 Mexico Jan : 3.31 29.13 9.40 22.08 38.58 0.00 3.26 Feb : 3.36 29.13 9.90 22.08 38.58 0.00 3.81 N Afr/M.East 7/Jan : 7.21 28.03 18.94 39.74 47.09 0.30 6.79 Feb : 7.40 27.83 19.11 39.92 47.27 0.30 6.78 Saudi Arabia Jan : 3.20 0.20 7.50 7.83 8.01 0.00 2.89 Feb : 3.20 0.20 7.50 7.83 8.01 0.00 2.89 S.-east Asia 8/Jan : 2.19 16.93 4.06 15.27 20.93 0.23 2.02 Feb : 2.19 16.93 4.06 15.27 20.93 0.23 2.02 South Korea Jan : 1.35 0.33 8.87 6.85 9.23 0.00 1.32 Feb : 1.35 0.33 8.87 6.85 9.23 0.00 1.32 Selected other : China Jan : 35.81 151.44 2.14 104.97 151.38 4.03 33.98 Feb : 35.81 151.44 2.14 104.97 151.38 4.03 33.98 Other Europe Jan : 4.22 23.97 0.65 18.59 24.05 2.53 2.25 Feb : 4.22 23.97 0.65 18.59 24.05 2.53 2.25 FSU-12 Jan : 5.56 58.95 0.98 35.46 51.20 8.28 6.00 Feb : 5.55 58.64 0.96 35.66 51.33 8.08 5.74 Russia Jan : 1.40 30.20 0.65 18.00 28.05 2.60 1.60 Feb : 1.39 30.20 0.63 18.50 28.50 2.10 1.62 Ukraine Jan : 2.42 19.95 0.07 10.55 14.05 5.30 3.09 Feb : 2.42 19.18 0.07 10.35 13.83 5.30 2.54 =============================================================================== 1/ Aggregate of local marketing years. Coarse grains include corn, sorghum, barley, oats, rye, millet, and mixed grains (for U.S. excludes millet and mixed grains). 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and South Africa. 5/ The EU-25, Mexico, Japan, selected North Africa and Middle East, South Korea, Southeast Asia, and Taiwan. 6/ Trade excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya, Morocco, Syria, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-443-22 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2004/05 : World 3/ : 103.46 712.27 77.11 471.58 685.12 78.18 130.62 United States : 24.34 299.91 0.28 156.43 224.65 46.18 53.70 Total foreign : 79.13 412.36 76.84 315.15 460.47 32.00 76.92 Major exporters 4/ : 3.18 32.22 0.37 8.50 14.90 16.72 4.15 Argentina : 0.22 20.50 0.01 3.50 5.20 14.57 0.96 South Africa : 2.96 11.72 0.36 5.00 9.70 2.14 3.19 Major importers 5/ : 12.97 97.52 47.22 100.52 140.09 0.70 16.91 Egypt : 0.48 5.84 5.40 9.50 11.30 0.00 0.42 EU-25 6/ : 2.94 52.97 2.97 42.00 51.70 0.16 7.01 Japan : 1.04 0.00 16.49 12.00 16.50 0.00 1.03 Mexico : 4.46 22.05 5.95 12.60 27.90 0.03 4.53 Southeast Asia 7/ : 1.61 16.53 3.23 13.20 19.20 0.51 1.66 South Korea : 1.34 0.08 8.63 6.62 8.67 0.00 1.38 Selected other : Brazil : 7.88 35.00 0.50 32.10 38.50 0.68 4.19 Canada : 1.14 8.84 2.37 7.91 10.31 0.24 1.80 China : 44.85 130.29 0.00 98.00 131.00 7.59 36.56 Other Europe : 1.18 23.70 0.43 16.58 20.17 1.72 3.40 FSU-12 : 1.36 15.39 0.55 11.01 12.71 2.42 2.17 Ukraine : 0.84 8.80 0.01 5.30 6.00 2.33 1.32 : : 2005/06 (Estimated) : World 3/ : 130.62 695.60 78.83 475.15 701.70 80.53 124.51 United States : 53.70 282.31 0.23 156.00 231.72 54.55 49.97 Total foreign : 76.92 413.28 78.61 319.15 469.98 25.99 74.54 Major exporters 4/ : 4.15 22.74 1.00 8.90 15.20 10.10 2.58 Argentina : 0.96 15.80 0.00 4.40 6.20 9.50 1.06 South Africa : 3.19 6.94 1.00 4.50 9.00 0.60 1.53 Major importers 5/ : 16.91 91.07 48.29 97.91 137.35 0.51 18.40 Egypt : 0.42 5.86 4.40 8.40 10.20 0.00 0.47 EU-25 6/ : 7.01 48.62 3.14 39.20 48.70 0.12 9.94 Japan : 1.03 0.00 16.62 12.10 16.60 0.00 1.05 Mexico : 4.53 19.50 6.79 12.40 27.90 0.21 2.71 Southeast Asia 7/ : 1.66 16.98 4.40 14.85 20.70 0.18 2.16 South Korea : 1.38 0.06 8.48 6.51 8.58 0.00 1.35 Selected other : Brazil : 4.19 41.70 1.00 33.00 39.50 4.20 3.19 Canada : 1.80 9.46 1.93 8.71 10.94 0.25 2.00 China : 36.56 139.36 0.06 101.00 137.00 3.73 35.26 Other Europe : 3.40 22.18 0.45 16.23 20.34 2.08 3.61 FSU-12 : 2.17 13.15 0.62 10.12 11.76 2.54 1.63 Ukraine : 1.32 7.15 0.01 4.40 5.10 2.46 0.92 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina and South Africa. 5/ Egypt, the EU-25, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-443-23 World Corn Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2006/07 (Projected) World 3/ : January : 124.99 687.20 80.16 477.91 725.75 83.45 86.44 February : 124.51 692.42 80.71 479.03 728.98 86.45 87.95 United States : January : 49.97 267.60 0.25 151.77 241.56 57.15 19.10 February : 49.97 267.60 0.25 151.77 241.56 57.15 19.10 Total foreign : January : 75.02 419.60 79.91 326.14 484.19 26.30 67.33 February : 74.54 424.82 80.46 327.26 487.42 29.30 68.85 Major exporters 4/ : January : 2.53 29.00 0.50 9.60 16.00 12.75 3.28 February : 2.58 30.50 0.50 9.60 16.00 14.75 2.83 Argentina Jan : 1.06 19.00 0.00 5.10 7.00 12.00 1.06 Feb : 1.06 21.00 0.00 5.10 7.00 14.00 1.06 South Africa Jan : 1.48 10.00 0.50 4.50 9.00 0.75 2.23 Feb : 1.53 9.50 0.50 4.50 9.00 0.75 1.78 Major importers 5/ : January : 18.36 88.65 49.45 100.60 140.57 0.35 15.54 February : 18.40 88.62 50.15 100.80 140.77 0.35 16.05 Egypt Jan : 0.47 5.87 4.80 8.60 10.60 0.00 0.54 Feb : 0.47 5.87 4.80 8.60 10.60 0.00 0.54 EU-25 6/ Jan : 9.94 43.93 4.00 40.50 50.30 0.15 7.42 Feb : 9.94 43.90 4.00 40.50 50.30 0.15 7.39 Japan Jan : 1.05 0.00 16.50 12.00 16.60 0.00 0.95 Feb : 1.05 0.00 16.50 12.00 16.60 0.00 0.95 Mexico Jan : 2.67 22.00 6.80 13.20 28.80 0.00 2.67 Feb : 2.71 22.00 7.50 13.40 29.00 0.00 3.21 S.-east Asia 7/Jan : 2.16 16.73 4.05 15.10 20.75 0.20 1.99 Feb : 2.16 16.73 4.05 15.10 20.75 0.20 1.99 South Korea Jan : 1.35 0.07 8.80 6.80 8.90 0.00 1.32 Feb : 1.35 0.07 8.80 6.80 8.90 0.00 1.32 Selected other : Brazil Jan : 3.89 42.00 0.75 33.50 40.00 4.00 2.64 Feb : 3.19 46.00 0.35 34.00 40.50 5.00 4.04 Canada Jan : 2.00 9.30 2.30 8.80 11.80 0.20 1.60 Feb : 2.00 9.30 2.00 8.50 11.50 0.20 1.60 China Jan : 35.26 143.00 0.10 103.00 141.00 4.00 33.36 Feb : 35.26 143.00 0.10 103.00 141.00 4.00 33.36 Other Europe Jan : 3.61 19.81 0.32 15.68 19.66 2.28 1.80 Feb : 3.61 19.81 0.32 15.68 19.66 2.28 1.80 FSU-12 Jan : 1.61 12.83 0.50 10.29 11.93 1.13 1.88 Feb : 1.63 12.73 0.50 10.29 11.93 1.13 1.80 Ukraine Jan : 0.92 6.50 0.00 4.50 5.25 1.00 1.17 Feb : 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-25, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-443-24 World Rice Supply and Use (Milled Basis) 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total 2/: : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2004/05 World 3/ : 85.39 400.47 26.31 407.72 28.36 78.15 United States : 0.76 7.46 0.42 3.94 3.50 1.21 Total foreign : 84.63 393.01 25.89 403.79 24.86 76.94 Major exporters 4/ : 17.44 128.13 0.32 110.77 19.94 15.18 India : 10.80 83.13 0.00 80.74 4.69 8.50 Pakistan : 0.64 4.92 0.00 2.55 2.80 0.20 Thailand : 1.71 17.36 0.00 9.48 7.27 2.31 Vietnam : 4.30 22.72 0.32 18.00 5.17 4.16 Major importers 5/ : 12.56 60.23 9.25 68.52 0.57 12.94 Brazil : 1.34 9.00 0.55 8.86 0.28 1.75 EU-25 6/ : 0.97 1.87 1.00 2.53 0.18 1.14 Indonesia : 4.02 34.83 0.50 35.85 0.05 3.45 Nigeria : 1.00 2.30 1.37 4.25 0.00 0.42 Philippines : 4.05 9.43 1.50 10.40 0.00 4.57 Sel. Mideast 7/ : 0.99 2.31 3.27 5.05 0.06 1.46 Selected other : Burma : 1.63 9.57 0.00 10.30 0.19 0.71 C. Amer & Carib 8/ : 0.11 0.07 0.42 0.48 0.00 0.13 China : 43.92 125.36 0.61 130.30 0.66 38.93 Egypt : 0.72 4.13 0.00 3.25 1.10 0.50 Japan : 1.70 7.94 0.78 8.30 0.20 1.92 Mexico : 0.18 0.20 0.55 0.75 0.00 0.17 South Korea : 0.85 5.00 0.19 4.86 0.27 0.91 : : 2005/06 (Estimated) World 3/ : 78.15 416.28 26.46 413.14 27.92 81.29 United States : 1.21 7.11 0.54 3.81 3.69 1.37 Total foreign : 76.94 409.17 25.92 409.33 24.23 79.92 Major exporters 4/ : 15.18 137.56 0.40 115.53 18.81 18.81 India : 8.50 91.04 0.00 85.22 3.80 10.52 Pakistan : 0.20 5.55 0.00 2.56 2.90 0.30 Thailand : 2.31 18.20 0.05 9.50 7.41 3.65 Vietnam : 4.16 22.77 0.35 18.25 4.69 4.34 Major importers 5/ : 12.94 59.93 11.00 69.66 0.49 13.72 Brazil : 1.75 7.87 0.75 8.97 0.25 1.15 EU-25 6/ : 1.14 1.73 1.10 2.55 0.18 1.24 Indonesia : 3.45 34.96 0.60 35.80 0.00 3.21 Nigeria : 0.42 2.70 1.78 4.35 0.00 0.55 Philippines : 4.57 9.82 1.90 11.00 0.00 5.29 Sel. Mideast 7/ : 1.46 2.38 3.76 5.39 0.06 2.14 Selected other : Burma : 0.71 10.44 0.00 10.40 0.08 0.67 C. Amer & Carib 8/ : 0.13 0.07 0.45 0.49 0.00 0.15 China : 38.93 126.41 0.70 128.00 1.22 36.83 Egypt : 0.50 4.13 0.00 3.28 1.00 0.36 Japan : 1.92 8.26 0.70 8.25 0.20 2.43 Mexico : 0.17 0.18 0.60 0.78 0.00 0.18 South Korea : 0.91 4.77 0.40 4.85 0.13 1.10 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, and the EU-25. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries. WASDE-443-25 World Rice Supply and Use (Milled Basis) 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total 2/: : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2006/07 (Projected) World 3/ : January : 80.44 415.02 27.21 417.74 28.92 77.73 February : 81.29 415.27 27.34 417.71 29.12 78.85 United States : January : 1.37 6.15 0.57 3.91 3.24 0.95 February : 1.37 6.15 0.59 3.90 3.24 0.97 Total foreign : January : 79.07 408.87 26.64 413.83 25.68 76.78 February : 79.92 409.12 26.76 413.80 25.88 77.89 Major exporters 4/ : January : 18.04 137.39 0.40 118.13 20.90 16.80 February : 18.81 137.62 0.40 118.02 20.90 17.91 India Jan : 10.52 91.00 0.00 87.50 4.30 9.72 Feb : 10.52 91.00 0.00 87.50 4.30 9.72 Pakistan Jan : 0.30 5.60 0.00 2.56 3.00 0.34 Feb : 0.30 5.60 0.00 2.56 3.00 0.34 Thailand Jan : 3.76 18.25 0.10 9.57 8.70 3.84 Feb : 3.65 18.25 0.10 9.46 8.70 3.84 Vietnam Jan : 3.46 22.54 0.30 18.50 4.90 2.90 Feb : 4.34 22.77 0.30 18.50 4.90 4.01 Major importers 5/ : January : 13.40 58.79 11.24 70.24 0.33 12.86 February : 13.72 58.79 11.42 70.24 0.33 13.36 Brazil Jan : 1.00 7.70 0.85 8.95 0.13 0.47 Feb : 1.15 7.70 0.85 8.95 0.13 0.62 EU-25 6/ Jan : 1.07 1.68 0.93 2.60 0.15 0.92 Feb : 1.24 1.68 1.10 2.60 0.15 1.27 Indonesia Jan : 3.21 33.70 1.80 35.85 0.00 2.86 Feb : 3.21 33.70 1.80 35.85 0.00 2.86 Nigeria Jan : 0.55 2.80 1.60 4.45 0.00 0.50 Feb : 0.55 2.80 1.60 4.45 0.00 0.50 Philippines Jan : 5.29 10.00 1.85 11.30 0.00 5.84 Feb : 5.29 10.00 1.85 11.30 0.00 5.84 Sel. Mideast 7/Jan : 2.14 2.44 3.10 5.49 0.05 2.14 Feb : 2.14 2.44 3.10 5.49 0.05 2.14 Selected other : Burma Jan : 0.67 10.50 0.00 10.50 0.15 0.52 Feb : 0.67 10.50 0.00 10.50 0.15 0.52 C. Am & Car. 8/Jan : 0.15 0.07 0.45 0.50 0.00 0.17 Feb : 0.15 0.07 0.45 0.50 0.00 0.17 China Jan : 36.95 128.00 0.80 127.80 1.00 36.95 Feb : 36.83 128.00 0.80 127.80 1.20 36.63 Egypt Jan : 0.36 4.14 0.00 3.30 0.90 0.30 Feb : 0.36 4.14 0.00 3.30 0.90 0.30 Japan Jan : 2.43 7.94 0.65 8.20 0.20 2.62 Feb : 2.43 7.94 0.65 8.20 0.20 2.62 Mexico Jan : 0.18 0.18 0.60 0.80 0.00 0.16 Feb : 0.18 0.18 0.60 0.80 0.00 0.16 South Korea Jan : 1.10 4.68 0.27 4.84 0.10 1.10 Feb : 1.10 4.68 0.27 4.84 0.10 1.10 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, the EU-25. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries. WASDE-443-26 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2004/05 : World : 43.03 120.19 33.39 108.82 34.98 -1.12 53.94 United States : 3.45 23.25 0.03 6.69 14.44 0.11 5.50 Total foreign : 39.58 96.94 33.36 102.13 20.54 -1.23 48.45 Major exporters 4/ : 14.80 45.63 1.89 23.50 16.60 -0.19 22.41 Central Asia 5/ : 1.72 8.07 3/ 1.51 5.92 0.00 2.36 Afr. Fr. Zone 6/ : 1.30 5.01 3/ 0.20 4.13 0.00 1.97 S. Hemis. 7/ : 6.55 10.34 0.45 5.26 4.23 -0.20 8.04 Australia : 0.89 3.00 3/ 0.07 2.00 -0.12 1.96 Brazil : 4.63 5.90 0.21 4.20 1.56 -0.10 5.08 India : 4.19 19.00 1.04 14.80 0.66 0.00 8.76 Major importers 8/ : 22.88 47.42 28.72 73.87 2.59 -1.06 23.62 Mexico : 1.14 0.63 1.81 2.10 0.14 0.03 1.32 China : 14.96 29.00 6.39 38.50 0.03 -1.25 13.06 EU-25 9/ : 0.97 2.31 3.08 3.47 1.65 0.06 1.16 Russia : 0.20 3/ 1.45 1.43 0.00 0.00 0.22 Turkey : 1.48 4.15 3.41 7.10 0.15 0.00 1.79 Pakistan : 1.90 11.14 1.76 10.75 0.56 0.03 3.46 Indonesia : 0.37 0.03 2.20 2.15 0.02 0.05 0.38 Thailand : 0.42 0.06 2.28 2.10 0.00 0.03 0.63 Bangladesh : 0.35 0.06 1.85 1.88 0.00 0.01 0.38 : : 2005/06 (Estimated) : World : 53.94 114.13 44.00 115.80 44.57 -2.60 54.31 United States : 5.50 23.89 0.03 5.89 18.04 -0.56 6.05 Total foreign : 48.45 90.24 43.98 109.91 26.54 -2.04 48.26 Major exporters 4/ : 22.41 43.76 1.54 25.09 21.99 -0.09 20.71 Central Asia 5/ : 2.36 8.36 3/ 1.46 7.00 0.00 2.27 Afr. Fr. Zone 6/ : 1.97 4.24 3/ 0.19 4.35 0.00 1.68 S. Hemis. 7/ : 8.04 8.96 0.61 5.16 5.57 -0.10 7.00 Australia : 1.96 2.80 3/ 0.06 2.88 -0.12 1.94 Brazil : 5.08 4.70 0.31 4.05 1.97 0.00 4.07 India : 8.76 19.20 0.40 16.50 3.45 0.00 8.41 Major importers 8/ : 23.62 42.93 40.09 80.39 2.86 -1.96 25.35 Mexico : 1.32 0.64 1.74 2.10 0.25 0.03 1.32 China : 13.06 26.20 19.28 45.00 0.04 -2.15 15.66 EU-25 9/ : 1.16 2.49 2.30 2.70 2.00 0.06 1.19 Russia : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey : 1.79 3.55 3.38 6.90 0.13 0.00 1.70 Pakistan : 3.46 9.85 1.66 11.75 0.32 0.03 2.87 Indonesia : 0.38 0.03 2.20 2.18 0.02 0.05 0.37 Thailand : 0.63 0.05 1.89 2.05 0.01 0.03 0.50 Bangladesh : 0.38 0.07 2.21 2.20 0.00 0.01 0.46 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, China, and the United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Paraguay, South Africa, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, South Korea, Taiwan, and Vietnam. 9/ Includes intra-EU trade. WASDE-443-27 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2006/07 (Projected) World : January : 54.33 116.72 40.83 121.17 40.33 -1.89 52.26 February : 54.31 116.56 40.49 121.35 39.98 -2.89 52.92 United States : January : 6.05 21.73 0.03 5.00 15.70 0.00 7.10 February : 6.05 21.73 0.03 5.00 14.50 0.00 8.30 Total foreign : January : 48.28 94.99 40.80 116.17 24.63 -1.89 45.16 February : 48.26 94.83 40.47 116.35 25.48 -2.89 44.62 Major exporters 4/ : January : 20.73 44.87 1.98 26.59 20.93 -0.09 20.15 February : 20.71 44.71 1.86 26.49 21.93 -0.09 18.95 Central Asia 5/Jan : 2.27 8.21 3/ 1.40 6.79 0.00 2.29 Feb : 2.27 8.21 3/ 1.40 6.84 0.00 2.24 Afr. Fr. Zn. 6/Jan : 1.68 4.49 3/ 0.18 4.44 0.00 1.54 Feb : 1.68 4.44 3/ 0.18 4.44 0.00 1.49 S. Hemis 7/ Jan : 6.99 8.97 0.83 5.22 4.50 -0.10 7.18 Feb : 7.00 8.86 0.81 5.12 4.50 -0.10 7.15 Australia Jan : 1.94 1.30 3/ 0.06 2.25 -0.12 1.06 Feb : 1.94 1.20 3/ 0.06 2.25 -0.12 0.96 Brazil Jan : 4.07 6.00 0.50 4.05 1.50 0.00 5.02 Feb : 4.07 6.00 0.45 3.95 1.50 0.00 5.07 India Jan : 8.36 21.00 0.60 18.00 4.00 0.00 7.96 Feb : 8.41 21.00 0.50 18.00 5.00 0.00 6.91 Major importers 8/ : January : 25.35 46.78 36.52 85.31 2.16 -1.81 22.98 February : 25.35 47.01 36.27 85.56 2.18 -2.81 23.70 Mexico Jan : 1.32 0.64 1.45 2.05 0.25 0.03 1.08 Feb : 1.32 0.60 1.45 2.05 0.25 0.03 1.05 China Jan : 15.66 30.75 16.00 50.00 0.05 -2.00 14.36 Feb : 15.66 30.90 15.50 50.00 0.05 -3.00 15.01 EU-25 9/ Jan : 1.19 1.59 2.02 2.38 1.44 0.06 0.92 Feb : 1.19 1.61 2.02 2.38 1.46 0.06 0.93 Russia Jan : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Feb : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey Jan : 1.70 4.00 2.80 6.70 0.15 0.00 1.65 Feb : 1.70 4.00 3.10 7.00 0.15 0.00 1.65 Pakistan Jan : 2.87 9.60 2.30 12.20 0.15 0.03 2.40 Feb : 2.87 9.70 2.30 12.20 0.15 0.03 2.50 Indonesia Jan : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Feb : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Thailand Jan : 0.50 0.05 2.05 2.10 0.00 0.03 0.47 Feb : 0.50 0.05 2.00 2.05 0.00 0.03 0.47 Bangladesh Jan : 0.46 0.07 2.30 2.30 0.00 0.01 0.52 Feb : 0.46 0.07 2.30 2.30 0.00 0.01 0.52 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, and the United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Paraguay, South Africa, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, South Korea, Taiwan, and Vietnam. 9/ Includes intra-EU trade. WASDE-443-28 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 2004/05 World 2/ : 38.62 215.72 63.45 175.63 205.09 64.54 48.16 United States : 3.06 85.01 0.15 46.16 51.40 29.86 6.96 Total foreign : 35.56 130.71 63.29 129.47 153.69 34.68 41.20 Major exporters 3/ : 30.99 96.05 1.20 57.54 62.04 32.34 33.87 Argentina : 15.40 39.00 0.69 27.31 28.75 9.31 17.03 Brazil : 15.51 53.00 0.48 29.25 32.10 20.14 16.75 Major importers 4/ : 3.62 19.55 51.86 53.34 68.48 0.42 6.13 China : 2.10 17.40 25.80 30.36 40.21 0.39 4.70 EU-25 : 0.90 0.79 14.54 14.00 15.35 0.01 0.87 Japan : 0.30 0.17 4.30 3.15 4.50 0.00 0.26 Mexico : 0.04 0.13 3.64 3.73 3.76 0.00 0.05 : : 2005/06 (Estimated) World 2/ : 48.16 217.89 64.08 183.83 213.47 64.43 52.23 United States : 6.96 83.37 0.09 47.32 52.41 25.78 12.23 Total foreign : 41.20 134.53 63.98 136.51 161.06 38.65 40.00 Major exporters 3/ : 33.87 99.50 0.71 61.09 65.51 35.76 32.81 Argentina : 17.03 40.50 0.58 31.89 33.41 7.25 17.45 Brazil : 16.75 55.00 0.08 28.05 30.65 25.91 15.27 Major importers 4/ : 6.13 18.65 53.27 56.29 71.75 0.38 5.91 China : 4.70 16.35 28.32 34.50 44.54 0.35 4.47 EU-25 : 0.87 0.86 13.93 13.31 14.73 0.01 0.92 Japan : 0.26 0.23 3.96 2.82 4.19 0.00 0.25 Mexico : 0.05 0.15 3.65 3.77 3.80 0.00 0.04 : : 2006/07 (Projected) World 2/ : January : 52.24 226.85 69.93 193.20 222.67 70.20 56.15 February : 52.23 228.40 69.21 193.33 222.78 69.63 57.43 United States : January : 12.23 86.77 0.11 48.44 52.97 30.48 15.66 February : 12.23 86.77 0.11 48.44 52.97 29.94 16.21 Total foreign : January : 40.01 140.08 69.82 144.75 169.71 39.72 40.48 February : 40.00 141.63 69.10 144.89 169.81 39.69 41.23 Major exporters 3/ : January : 32.80 103.20 1.04 63.10 67.23 36.40 33.40 February : 32.81 104.70 1.04 63.60 67.73 36.40 34.41 Argentina Jan : 17.44 42.50 0.93 34.00 35.57 7.35 17.95 Feb : 17.45 44.00 0.93 34.50 36.07 7.35 18.96 Brazil Jan : 15.27 56.00 0.10 27.90 30.26 25.75 15.37 Feb : 15.27 56.00 0.10 27.90 30.26 25.75 15.37 Major importers 4/ : January : 5.93 18.55 57.54 60.11 75.95 0.39 5.68 February : 5.91 18.55 57.04 59.86 75.70 0.39 5.41 China Jan : 4.47 16.20 32.00 37.75 48.10 0.35 4.22 Feb : 4.47 16.20 31.50 37.50 47.85 0.35 3.97 EU-25 Jan : 0.94 0.92 14.14 13.67 15.05 0.01 0.93 Feb : 0.92 0.92 14.14 13.67 15.05 0.01 0.91 Japan Jan : 0.25 0.20 4.05 2.88 4.24 0.00 0.26 Feb : 0.25 0.20 4.05 2.88 4.24 0.00 0.26 Mexico Jan : 0.04 0.16 3.76 3.88 3.92 0.00 0.04 Feb : 0.04 0.16 3.76 3.88 3.92 0.00 0.04 =============================================================================== 1/ Data based on local marketing years except Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil and Paraguay. 4/ Japan, China, and EU, Mexico, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). WASDE-443-29 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2004/05 World 2/ : 5.01 138.64 46.40 137.37 46.76 5.92 United States : 0.19 36.94 0.13 30.45 6.66 0.16 Total foreign : 4.82 101.71 46.27 106.93 40.10 5.76 Major exporters 3/ : 2.44 48.19 0.25 10.73 36.70 3.45 Argentina : 0.61 21.53 0.00 0.50 20.65 1.00 Brazil : 1.80 22.66 0.25 8.88 14.26 1.58 India : 0.04 4.01 0.00 1.36 1.80 0.88 Major importers 4/ : 1.19 36.85 27.51 63.15 1.20 1.20 EU-25 : 0.85 11.01 21.72 32.22 0.51 0.85 China : 0.00 24.03 0.07 23.44 0.66 0.00 : : 2005/06 (Estimated) World 2/ : 5.92 144.57 50.46 145.00 51.50 4.44 United States : 0.16 37.41 0.13 30.10 7.32 0.29 Total foreign : 5.76 107.15 50.33 114.91 44.18 4.16 Major exporters 3/ : 3.45 51.00 0.19 11.58 40.91 2.16 Argentina : 1.00 25.02 0.00 0.58 24.34 1.10 Brazil : 1.58 21.66 0.19 9.60 12.90 0.94 India : 0.88 4.33 0.00 1.41 3.68 0.12 Major importers 4/ : 1.20 39.47 29.68 68.19 1.08 1.09 EU-25 : 0.85 10.47 22.56 32.33 0.69 0.86 China : 0.00 27.30 0.84 27.78 0.36 0.00 : : 2006/07 (Projected) World 2/ : January : 4.44 152.42 52.52 152.23 53.08 4.07 February : 4.44 152.57 51.63 151.25 52.82 4.57 United States : January : 0.29 38.48 0.15 30.75 7.89 0.27 February : 0.29 38.48 0.15 30.75 7.89 0.27 Total foreign : January : 4.16 113.94 52.37 121.48 45.18 3.80 February : 4.16 114.09 51.48 120.49 44.93 4.30 Major exporters 3/ : January : 2.16 53.52 0.28 12.14 41.85 1.96 February : 2.16 53.92 0.28 12.34 41.55 2.46 Argentina Jan : 1.10 26.65 0.00 0.63 26.05 1.08 Feb : 1.10 27.05 0.00 0.63 26.45 1.08 Brazil Jan : 0.94 21.83 0.28 10.00 12.20 0.84 Feb : 0.94 21.83 0.28 10.10 11.60 1.34 India Jan : 0.12 5.04 0.00 1.52 3.60 0.05 Feb : 0.12 5.04 0.00 1.62 3.50 0.05 Major importers 4/ : January : 1.09 42.39 30.20 71.61 1.08 1.00 February : 1.09 42.22 29.35 70.53 1.13 1.00 EU-25 Jan : 0.86 10.76 22.68 32.74 0.70 0.86 Feb : 0.86 10.76 22.68 32.74 0.70 0.86 China Jan : 0.00 29.87 0.90 30.42 0.35 0.00 Feb : 0.00 29.70 0.05 29.35 0.40 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-443-30 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2004/05 World 2/ : 2.64 32.49 8.96 31.65 9.23 3.21 United States : 0.49 8.78 0.01 7.91 0.60 0.77 Total foreign : 2.15 23.71 8.95 23.74 8.63 2.44 Major exporters 3/ : 1.41 13.24 0.18 5.64 7.68 1.51 Argentina : 0.86 5.09 0.00 0.41 4.75 0.79 Brazil : 0.37 5.65 0.00 3.09 2.41 0.52 EU-25 : 0.18 2.51 0.18 2.15 0.51 0.20 Major importers 4/ : 0.44 6.32 3.83 9.91 0.05 0.64 China : 0.34 5.42 1.74 7.21 0.04 0.25 India : 0.10 0.90 2.03 2.63 0.01 0.39 Pakistan : 0.01 0.00 0.06 0.06 0.00 0.01 : : 2005/06 (Estimated) World 2/ : 3.21 34.26 8.86 33.39 9.30 3.64 United States : 0.77 9.25 0.02 8.15 0.52 1.37 Total foreign : 2.44 25.01 8.85 25.25 8.78 2.27 Major exporters 3/ : 1.51 13.77 0.73 6.47 7.91 1.64 Argentina : 0.79 6.00 0.00 0.43 5.60 0.77 Brazil : 0.52 5.39 0.02 3.20 2.06 0.68 EU-25 : 0.20 2.38 0.71 2.84 0.26 0.19 Major importers 4/ : 0.64 7.13 3.23 10.53 0.11 0.36 China : 0.25 6.15 1.52 7.61 0.11 0.20 India : 0.39 0.97 1.68 2.88 0.01 0.15 Pakistan : 0.01 0.01 0.03 0.04 0.00 0.00 : : 2006/07 (Projected) World 2/ : January : 3.57 35.67 9.60 35.66 9.90 3.28 February : 3.64 35.71 9.59 35.65 9.98 3.32 United States : January : 1.37 9.15 0.03 8.66 0.66 1.22 February : 1.37 9.15 0.03 8.64 0.68 1.22 Total foreign : January : 2.21 26.52 9.58 27.00 9.25 2.06 February : 2.27 26.57 9.57 27.01 9.30 2.10 Major exporters 3/ : January : 1.64 14.22 0.96 7.01 8.27 1.53 February : 1.64 14.32 0.96 7.06 8.32 1.53 Argentina Jan : 0.77 6.40 0.00 0.57 5.87 0.73 Feb : 0.77 6.50 0.00 0.62 5.92 0.73 Brazil Jan : 0.68 5.37 0.01 3.30 2.15 0.60 Feb : 0.68 5.37 0.01 3.30 2.15 0.60 EU-25 Jan : 0.19 2.45 0.95 3.14 0.25 0.20 Feb : 0.19 2.45 0.95 3.14 0.25 0.20 Major importers 4/ : January : 0.34 7.89 3.60 11.46 0.08 0.29 February : 0.36 7.85 3.60 11.42 0.08 0.31 China Jan : 0.20 6.74 1.70 8.34 0.08 0.22 Feb : 0.20 6.70 1.70 8.31 0.08 0.22 India Jan : 0.14 1.14 1.85 3.05 0.01 0.07 Feb : 0.15 1.14 1.85 3.05 0.01 0.08 Pakistan Jan : 0.00 0.01 0.05 0.06 0.00 0.00 Feb : 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-443-31 U.S. Quarterly Animal Product Production 1/ =============================================================================== Year : : : Red : : : Total : Red : : : and : : : meat : : :poultry :meat & : : : quarter : Beef : Pork : 2/ :Broiler:Turkey: 3/ :poultry: Egg : Milk : =============================================================================== : Million pounds Mil doz Bil lbs 2005 : Annual : 24683 20685 45711 35365 5504 41386 87097 7504 177.0 : 2006 : I : 6078 5321 11486 8937 1354 10416 21902 1878 45.6 II : 6699 4998 11782 9129 1440 10701 22483 1880 46.9 III : 6808 5071 11960 8883 1419 10427 22387 1891 44.7 IV : 6485 5607 12181 8780 1473 10374 22555 1915 44.6 Annual : Jan Est : 26075 21010 47426 35799 5688 41994 89420 7569 181.7 Feb Est : 26070 20997 47409 35729 5686 41918 89327 7564 181.8 : 2007 : I*: 6375 5375 11839 8825 1410 10360 22199 1865 46.4 II*: 6815 5200 12098 9100 1460 10690 22788 1880 47.5 III*: 7000 5325 12406 9100 1440 10665 23071 1920 45.3 IV*: 6450 5750 12285 9000 1470 10590 22875 1945 45.1 Annual : Jan Proj : 26700 21650 48687 36190 5780 42490 91177 7650 183.0 Feb Proj : 26640 21650 48628 36025 5780 42305 90933 7610 184.3 =============================================================================== * Projection. 1/ Commercial production for red meats; federally inspected for poultry meats. 2/ Beef, pork, veal and lamb & mutton. 3/ Broilers, turkeys and mature chicken. U.S. Quarterly Prices for Animal Products =============================================================================== Year : Choice : Barrows : : : : : and : steers :and gilts : Broilers : Turkeys : Eggs : Milk : quarter : 1/ : 2/ : 3/ : 4/ : 5/ : 6/ : =============================================================================== : Dol./cwt Dol./cwt Cents/lb. Cents/lb. Cents/doz. Dol./cwt 2005 : Annual : 87.28 50.05 70.8 73.4 65.5 15.14 : 2006 : I : 89.24 42.63 62.7 67.3 71.4 13.53 II : 80.39 48.45 61.0 71.3 62.7 12.00 III : 85.40 51.83 67.8 79.4 64.0 12.23 IV : 86.61 46.13 65.9 89.8 89.0 13.83 Annual : Jan Est : 85.41 47.26 64.4 77.0 71.0 12.91 Feb Est : 85.41 47.26 64.4 77.0 71.8 12.90 : 2007 : I*: 85-87 44-46 71-73 70-72 94-96 14.45-14.75 II*: 83-89 44-46 69-73 71-75 80-84 13.95-14.55 III*: 81-87 44-48 68-74 73-79 79-85 14.20-15.10 IV*: 82-88 42-46 67-73 77-83 85-93 14.70-15.70 Annual : Jan Proj : 82-88 42-44 66-71 72-78 78-84 13.60-14.40 Feb Proj : 83-88 44-46 69-73 73-77 84-90 14.35-15.05 =============================================================================== *Projection. 1/ Nebraska, Direct, 1100-1300 lbs. 2/ National Base, Live equiv 51-52% lean 3/ Wholesale, 12-city average. 4/ 8-16 lbs, hens, Eastern Region. 5/ Grade A large, New York, volume buyers. 6/ Simple monthly average of prices received by farmers for all milk. May not match reported annual averages. WASDE-443-32 U.S. Meats Supply and Use ============================================================================ : Supply : Use :--------------------------------------------------------- : : : : : : : Consumption : : Pro- : : : : :--------------- : Beg- : duc- : : : : End- : : Per Item :inning: tion : Im- :Total : Ex- : ing : :capita :stocks: 1/ :ports :supply: ports:stocks:Total : 2/ 3/ ============================================================================ : Million pounds 4/ BEEF : 2005 : 637 24784 3599 29020 698 571 27751 65.5 2006 Est. Jan : 571 26177 3073 29821 1150 625 28046 65.6 Feb : 571 26172 3073 29816 1150 631 28035 65.6 2007 Proj. Jan : 625 26802 3280 30707 1440 600 28667 66.4 Feb : 631 26742 3280 30653 1440 600 28613 66.3 : PORK : 2005 : 543 20706 1025 22274 2665 494 19115 50.0 2006 Est. Jan : 494 21030 1005 22529 2991 550 18988 49.2 Feb : 494 21017 1005 22516 2991 513 19012 49.3 2007 Proj. Jan : 550 21670 1010 23230 3150 550 19530 50.2 Feb : 513 21670 1010 23193 3150 515 19528 50.2 : TOTAL RED MEAT 5/ : 2005 : 1187 45846 4804 51837 3372 1080 47385 117.0 2006 Est. Jan : 1080 47561 4271 52912 4159 1204 47549 116.3 Feb : 1080 47544 4271 52895 4159 1166 47570 116.4 2007 Proj. Jan : 1204 48822 4479 54505 4606 1179 48720 118.1 Feb : 1166 48763 4484 54413 4606 1135 48672 118.0 : BROILERS : 2005 : 713 34986 34 35733 5203 924 29607 85.7 2006 Est. Jan : 924 35416 45 36385 5260 675 30450 87.4 Feb : 924 35347 45 36316 5260 756 30300 86.9 2007 Proj. Jan : 675 35803 48 36526 5405 750 30371 86.4 Feb : 756 35640 48 36444 5405 750 30289 86.1 : TURKEYS : 2005 : 288 5432 8 5728 570 206 4952 16.7 2006 Est. Jan : 206 5613 12 5832 546 225 5060 16.9 Feb : 206 5611 12 5830 546 221 5062 16.9 2007 Proj. Jan : 225 5704 12 5941 585 280 5076 16.8 Feb : 221 5704 12 5937 585 280 5072 16.8 : TOTAL POULTRY 6/ : 2005 : 1005 40935 42 41981 5902 1132 34947 103.7 2006 Est. Jan : 1132 41536 60 42728 5966 912 35850 105.4 Feb : 1132 41461 60 42653 5966 981 35705 105.0 2007 Proj. Jan : 912 42027 63 43001 6120 1041 35840 104.5 Feb : 981 41843 63 42887 6120 1041 35726 104.1 : RED MEAT & POULTRY: 2005 : 2192 86781 4846 93819 9274 2212 82333 220.7 2006 Est. Jan : 2212 89097 4331 95640 10125 2116 83398 221.7 Feb : 2212 89005 4331 95547 10125 2147 83275 221.3 2007 Proj. Jan : 2116 90849 4542 97506 10726 2220 84560 222.6 Feb : 2147 90606 4547 97300 10726 2176 84398 222.1 ============================================================================ 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-443-33 U.S. Egg Supply and Use =============================================================================== : : : 2006 Estimated : 2007 Projected : : :-----------------:----------------- Commodity : 2004 : 2005 : Jan : Feb : Jan : Feb =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 13.7 14.5 16.0 16.0 13.0 12.8 Production : 7440.0 7503.6 7569.0 7564.0 7650.0 7610.0 Imports : 12.7 9.0 7.3 7.0 8.0 7.2 Total supply : 7466.4 7527.1 7592.3 7587.0 7671.0 7630.0 : Use : Exports : 167.5 203.3 201.5 204.5 203.0 223.0 Hatching use : 988.1 999.8 990.5 994.0 980.0 990.0 Ending stocks : 14.5 16.0 13.0 12.8 16.0 13.0 Consumption : Total : 6296.3 6308.0 6387.3 6375.7 6472.0 6404.0 Per capita (number) : 257.1 255.2 256.0 255.6 257.1 254.4 =============================================================================== U.S. Milk Supply and Use =============================================================================== : : : 2006 Estimated : 2007 Projected Commodity : : :-----------------:----------------- : 2004 : 2005 : Jan : Feb : Jan : Feb =============================================================================== : Billion pounds Milk : Production : 170.9 177.0 181.7 181.8 183.0 184.3 Farm use : 1.1 1.1 1.1 1.1 1.0 1.0 : Fat Basis Supply : Beg. commercial stocks : 8.3 7.2 8.0 8.0 9.3 9.4 Marketings : 169.8 175.9 180.7 180.8 181.9 183.3 Imports : 5.3 5.0 4.8 4.8 5.0 5.0 Total cml. supply : 183.4 188.0 193.5 193.6 196.3 197.7 : Fat Basis Use : Ending commercial stks : 7.2 8.0 9.3 9.4 8.2 8.6 CCC net removals 1/ : -0.1 -0.0 0.0 0.0 0.0 0.0 Commercial use 2/ : 176.4 180.1 184.2 184.2 188.1 189.1 : Skim-solids Basis Supply : Beg. commercial stocks : 8.5 8.2 9.0 9.0 8.9 9.1 Marketings : 169.8 175.9 180.7 180.8 181.9 183.3 Imports : 4.8 4.8 4.6 4.6 5.2 5.2 Total cml. supply : 183.1 188.9 194.3 194.4 196.0 197.5 : Skim-solids Basis Use : Ending commercial stks : 8.2 9.0 8.9 9.1 8.8 8.8 CCC net removals 1/ : 1.3 -1.0 0.7 0.7 0.0 0.0 Commercial use 2/ : 173.7 180.9 184.6 184.6 187.2 188.7 : : Million pounds CCC product net removals 1/: Butter : -7 0 0 0 0 0 Cheese : 6 -2 0 0 0 0 Nonfat dry milk : 105 -81 64 64 0 0 Dry whole milk : 0 0 0 0 0 0 =============================================================================== Note: Totals may not add due to rounding. 1/ Includes products exported under the Dairy Export Incentive Program. 2/ Includes commercial exports. WASDE-443-34 U.S. Dairy Prices =============================================================================== : : : 2006 Estimated : 2007 Projected : : :-----------------:------------------ Commodity : 2004 : 2005 : Jan : Feb : Jan : Feb =============================================================================== : Dollars per pound : Product Prices 1/ : Cheese : 1.6431 1.4875 1.2470 1.2470 1.310- 1.320- : 1.390 1.390 : Butter : 1.8239 1.5405 1.2193 1.2193 1.235- 1.235- : 1.345 1.335 : Nonfat dry milk : 0.8405 0.9409 0.8874 0.8874 0.930- 1.050- : 0.990 1.110 : Dry whey : 0.2319 0.2782 0.3285 0.3285 0.355- 0.455- : 0.385 0.485 : : Dollars per cwt Milk Prices 2/ : Class III : 15.39 14.05 11.89 11.89 12.50- 13.20- : 13.30 13.90 : Class IV : 13.20 12.87 11.06 11.06 11.35- 12.45- : 12.25 13.25 : All milk 3/ : 16.05 15.14 12.91 12.90 13.60- 14.35- : 14.40 15.05 : =============================================================================== 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-443-35 Note: Tables on pages 35-37 present a 25-year record of the differences between the February projection and the final estimate. Using world wheat production as an example, changes between the February projection and the final estimate have averaged 2.3 million tons (0.4%) ranging from -7.3 to 6.8 million tons. The February projection has been below the estimate 18 times and above 7 times. Reliability of February Projections =============================================================================== :Differences between proj. & final estimate,1981/82-2005/06 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== WHEAT :Percent Million metric tons Number of years 2/ Production : World : 0.4 2.3 -7.3 6.8 18 7 U.S. : 0.1 0.1 -0.2 0.1 11 6 Foreign : 0.5 2.3 -7.3 6.8 18 7 Exports : World : 2.9 3.3 -10.9 5.0 17 8 U.S. : 3.2 1.0 -1.4 3.0 12 13 Foreign : 3.9 3.2 -9.5 4.1 20 5 Domestic use : World : 0.8 4.2 -9.7 9.1 12 13 U.S. : 3.1 1.0 -2.4 2.4 10 15 Foreign : 0.8 3.9 -8.2 8.5 13 12 Ending stocks : World : 3.4 4.4 -11.4 7.8 16 9 U.S. : 7.1 1.4 -4.4 3.2 16 9 Foreign : 3.8 3.8 -10.4 9.1 15 10 : COARSE GRAINS 3/ : Production : World : 0.9 7.9 -19.8 7.3 19 6 U.S. : 0.1 0.1 -0.2 1.3 12 6 Foreign : 1.3 7.9 -19.8 7.3 17 7 Exports : World : 3.7 3.9 -10.4 13.8 19 6 U.S. : 7.7 3.9 -8.7 12.2 12 13 Foreign : 6.4 3.4 -12.6 7.2 16 9 Domestic use : World : 0.9 8.0 -16.2 28.9 13 12 U.S. : 2.3 4.2 -17.3 11.5 12 13 Foreign : 1.0 6.9 -12.9 22.2 16 9 Ending stocks : World : 7.6 10.5 -29.9 16.4 20 5 U.S. : 8.8 5.0 -16.9 18.5 14 11 Foreign : 9.8 8.1 -28.2 11.2 20 5 : RICE, milled : Production : World : 1.3 4.4 -14.0 1.9 18 7 U.S. : 1.1 0.1 -0.3 0.2 10 4 Foreign : 1.3 4.3 -14.0 1.8 18 7 Exports : World : 6.9 1.3 -5.2 1.3 21 4 U.S. : 6.2 0.2 -0.6 0.2 14 9 Foreign : 7.8 1.3 -5.0 1.2 20 5 Domestic use : World : 1.0 3.5 -12.8 2.3 17 8 U.S. : 5.5 0.2 -0.4 0.4 10 15 Foreign : 1.0 3.4 -13.0 2.5 17 8 Ending stocks : World : 7.1 3.6 -13.9 4.0 19 6 U.S. : 16.6 0.2 -0.5 0.4 12 13 Foreign : 7.3 3.6 -13.8 4.0 19 5 =============================================================================== 1/ Footnotes at end of table. CONTINUED WASDE-443-36 Reliability of February Projections (Continued) =============================================================================== :Differences between proj. & final estimate,1981/82-2005/06 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== SOYBEANS 4/ :Percent Million metric tons Number of years 2/ Production : World : 2.1 3.1 -4.8 15.3 16 9 U.S. : 0.9 0.6 -1.6 1.8 10 11 Foreign : 3.7 3.0 -5.2 14.8 18 7 Exports : World : 4.7 2.0 -7.0 12.0 15 10 U.S. : 5.5 1.2 -2.9 3.7 15 10 Foreign : 14.0 2.0 -5.9 11.6 12 13 Domestic use : World : 2.0 2.6 -5.4 10.9 15 10 U.S. : 2.5 1.0 -3.0 2.4 18 7 Foreign : 2.4 2.2 -4.2 12.5 15 10 Ending stocks : World : 11.8 2.9 -6.8 19.3 15 10 U.S. : 22.5 1.7 -3.4 5.0 7 18 Foreign : 14.7 2.6 -6.7 14.2 17 8 : COTTON : Million 480-pound bales Production : World : 1.7 1.5 -5.4 2.8 19 6 U.S. : 0.6 0.1 -0.2 0.3 10 14 Foreign : 2.1 1.5 -5.7 2.7 19 6 Exports : World : 3.5 0.9 -3.5 0.9 15 10 U.S. : 7.1 0.5 -1.6 1.0 13 11 Foreign : 4.2 0.8 -3.5 1.0 15 10 Mill use : World : 1.7 1.5 -6.0 1.3 14 11 U.S. : 3.7 0.3 -0.9 0.8 18 6 Foreign : 1.8 1.4 -5.5 1.6 15 10 Ending stocks : World : 7.5 2.6 -6.0 7.9 14 10 U.S. : 13.7 0.7 -1.5 2.1 7 18 Foreign : 8.2 2.6 -6.2 7.4 15 10 =============================================================================== 1/ Final estimate for 1981/82-2005/06 is defined as the first November estimate following the marketing year. 2/ May not total 25 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. 4/ Global soybean supply and use projections were initially released in June 2004. Therefore, an insufficient number of observations are available to provide meaningful reliability statistics for global soybean supply and use. WASDE-443-37 Reliability of United States February Projections 1/ =============================================================================== :Differences between proj. & final estimate,1981/82-2005/06 2/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== CORN :Percent Million bushels Number of years 3/ Production : 0.0 2 -8 38 2 1 Exports : 8.0 139 -379 384 11 14 Domestic use : 2.4 146 -474 345 13 12 Ending stocks : 10.5 199 -635 838 16 9 : SORGHUM : Production : 0.0 0 0 4 0 2 Exports : 12.9 30 -90 97 15 9 Domestic use : 8.7 37 -178 100 11 14 Ending stocks : 29.5 31 -69 148 10 15 : BARLEY : Production : 0.3 1 -3 11 11 4 Exports : 13.3 8 -35 23 9 14 Domestic use : 5.1 19 -38 70 11 12 Ending stocks : 9.0 15 -52 24 17 7 : OATS : Production : 0.1 0 -2 1 4 3 Exports : 26.4 1 -1 3 4 5 Domestic use : 3.1 11 -26 36 13 12 Ending stocks : 10.1 12 -47 21 13 12 : : Thousand short tons SOYBEAN MEAL : Production : 2.3 738 -2328 765 19 6 Exports : 8.0 555 -1900 941 18 7 Domestic use : 2.0 500 -1256 866 16 9 Ending stocks : 30.4 74 -214 208 11 13 : : Million pounds SOYBEAN OIL : Production : 2.3 351 -1173 365 18 7 Exports : 15.4 230 -700 814 12 13 Domestic use : 1.8 236 -735 300 18 6 Ending stocks : 16.0 256 -692 415 14 11 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 2.8 684 -1367 1613 16 7 Pork : 2.6 439 -1240 1717 16 7 Broilers : 1.5 332 -729 484 16 7 Turkeys : 2.0 90 -206 161 12 11 : : Million dozen Eggs : 1.2 75 -127 169 14 9 : : Billion pounds Milk : 1.3 1.9 -4.9 5.7 12 11 =============================================================================== 1/ See pages 35 and 36 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-2005/06 is defined as the first November estimate following the marketing year. 3/ May not total 25 for crops and 23 for animal production if projection was the same as the final estimate. 4/ Calendar years 1983 thru 2005 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS. ----------- End of File ---------------