WASDE-345 - December 11, 1998 WHEAT: U.S. 1998/99 aggregate supply and use projections for wheat are unchanged from last month, but there are some minor changes in the trade and stocks projections by class. The projected price range is up 5 cents on each end to $2.60 to $2.80 per bushel. Global 1998/99 supply, use, and stocks projections are down from last month, and there are numerous country changes. Continued unfavorable weather conditions have reduced crop and export prospects for Australia and Argentina, but forecast exports are higher for Canada because of an upward revision in the wheat crop by Statistics Canada. Russia's production is reduced again, but use and stocks are unchanged due to the expected donations from the EU. The larger projected EU wheat exports also reflect the donations to Russia, and the resulting drop in EU stocks account for most of the drop in the projected global ending stocks. COARSE GRAINS: Projected U.S. 1998/99 ending stocks of corn are down 55 million bushels from a month earlier because of larger domestic use and higher exports. Food, seed, and industrial use is up 30 million bushels due to expanding use of corn for the production of ethanol. Exports are 25 million bushels above last month because of reduced competition. The projected price range is unchanged at $1.80 to $2.20 per bushel. Projected global 1998/99 coarse grain supply, use, and stocks are down marginally from last month. Smaller corn crops in Argentina, Brazil, Russia, and Ukraine and lower EU barley production account for most of the month-to-month reduction in global coarse grain production. Argentina's prospective corn production and exports are reduced this month due to a switch in area to soybeans and a slightly lower yield. Partially offsetting these reductions are higher projected production and exports for South Africa. Excellent moisture conditions are expected to result in expanded corn planting in South Africa. There is little change from last month in global corn imports as larger projected purchases by Egypt and Peru offset a reduction for Canada. The forecast 1998/99 Canadian corn corp is sharply raised to a record level as reported by Statistics Canada. RICE: Slight changes are made to U.S. 1998/99 supply and use projections. Imports are lowered to 9.5 million cwt, down 0.5 million cwt from last month but still an increase of 0.3 million cwt from 1997/98. Census data through the first 2 months of the marketing year indicate that the pace of imports is significantly behind the rate of the past 2 marketing years. This month, domestic and residual use is lowered 0.5 million cwt. In the last 2 months, 1998/99 domestic and residual use has been lowered a total of 1.0 million cwt, and is now up only 1.2 percent from 1997/98. This compares to an average rate of increase of 2.2 percent from 1990/91 through 1995/96. No changes are made to 1998/99 exports, ending stocks, or the season-average price range. Projected 1998/99 global rice production, consumption, exports, and ending stocks are up from a month ago. The increase in global production is primarily due to larger crops projected in China, Vietnam, and South Korea. These increases are partially offset by reductions in India, Bangladesh, and Egypt. Despite this month's global production increase, 1998/99 production is nearly 7 million metric tons below the 1997/98 record. Global exports for 1998/99 are projected to be up nearly 1 million metric tons from last month because of increases for India, Egypt, and Argentina. OILSEEDS: U.S. oilseed production for 1998/99 is forecast at a record 84.2 million tons, up only slightly from last month, due to a small increase in cottonseed production. Other changes this month include small upward revisions for imports of rapeseed products in response to larger availabilities in Canada and reductions in U.S. soybean meal exports and soybean crush. Ending stocks of soybeans are increased while stocks of soybean products are reduced. U.S. soybean crush prospects are lowered 10 million bushels this month to 1,605 million bushels, only slightly above last year's record. Larger South American soybean production and crush prospects offer more competition for U.S. soybean meal exports, which are cut 150,000 short tons this month to 8.5 million tons, 10 percent below a year earlier. Increased soybean meal consumption prospects for the EU in 1998/99 are helping to cushion the impact of rising supply competition. EU soybean meal use and soybean imports are revised sharply higher for 1997/98, and will continue high, at least in the early months of 1998/99, reflecting a sharper-than-expected rebound in EU hog numbers and production. U.S. soybean oil domestic use is reduced 50 million pounds this month because of increased imports of competitive vegetable oils. Soybean oil exports are unchanged at 2,700 million pounds as increased export supplies in South America are largely negated by stronger import demand, mainly in India, where oilseed crops are revised down substantially. U.S. season-average prices for soybeans and soybean meal are unchanged this month while soybean oil prices are lowered by 0.5 cent per pound to 25.0 to 27.5 cents because of early- season price weakness. Global oilseed production for 1998/99 is projected at a record 288.0 million metric tons, little changed from last month, but with many offsetting changes. World soybean production is raised 0.5 million tons to 154.1 million, with larger crops in Argentina and Canada more than offsetting small drops for the EU and India. In Argentina, drought caused a switch of some area from corn to soybean planting. Global sunflowerseed output is cut 0.3 million tons to 26.2 million as smaller sunflowerseed crops for Russia and the Ukraine are only partly offset by a larger crop in South Africa. A small gain for rapeseed reflects a larger Canadian crop offset some by lowered estimates for India and Australia. Finally, global peanut production is cut by 0.4 million tons to 27.6 million as weather reduced prospects in India and Argentina. SUGAR: U.S. sugar supply for fiscal year 1998/99 is projected at 12 million short tons, raw value, up 0.7 percent from last month, and up 2.7 percent from 1997/98. Projected sugar production from sugarcane is increased 80,000 tons, mainly due to higher forecast sugarcane yields in Florida. Lower projected sugar content offsets higher forecast yields in Louisiana and lowers Texas sugar production by 5,000 tons. The combination of dry summer weather and a rainy fall is contributing to the lower sugar content. The projected carryout stocks-to-use ratio is projected at 17.5 percent, up from 16.7 percent last month. LIVESTOCK, POULTRY, AND DAIRY: The forecast for both 1998 and 1999 total meat production is up slightly this month. Increased beef production forecasts for 1998 and 1999 mainly reflect heavier slaughter weights. Forecast pork production in 1998 is being boosted by higher than expected levels of slaughter. The December 29 release of USDA's Hogs and Pigs report will provide the basis for reevaluating 1999 production. Minor increases in broiler production this month reflect larger placements and heavier weights. Large meat supplies, particularly pork, continue to pressure cattle and hog prices. Hog price forecasts are lowered, reflecting larger supplies and strains on the industry's capacity to slaughter hogs. Lower cattle price forecasts reflect increased production and competition from pork and poultry. Beef and pork exports in the first quarter of 1999 are increased to reflect lack of movement of concessional sales to Russia during the fourth quarter of 1998. However, beef exports in 1998 reflect higher forecast sales to other markets. Poultry export forecasts for 1998 and 1999 are reduced. Lower broiler and turkey exports to Russia will be only partly offset by increases to other markets. Milk price forecasts for 1998/99 are increased, reflecting strong cheese markets. Supply and use estimates are unchanged from last month. COTTON: Higher 1998/99 U.S. production and changes in projected trade result in much larger U.S. ending stocks this month. Estimated imports are raised 100,000 bales, based on an anticipated shortage of high-quality domestic cotton. A reduction of about 4 percent in the export estimate results from continued sluggish world demand and the imminent expiration of "Step 2" user marketing funds. Just over half of projected U.S. cotton exports in 1998/99 will be supported by Step 2, less than previously expected. Ending stocks are raised to 2.8 million bales, up 0.5 million from last month and equivalent to 19 percent of total use. This month's world outlook also shows higher production, lower offtake, and larger ending stocks. Production is raised to 84.2 million bales as increases in India and the United States more than offset decreases in Egypt and other countries. Reduced global consumption reflects decreases in Turkey and India. World ending stocks are 5 percent higher than last month; about half of the increase is attributable to the current changes in production and consumption, and the remainder to historical revisions in the balance sheet for India. India's ending stocks are raised every year since 1961/62 due to consumption and trade revisions to convert to an August-July marketing year. Approved by the Secretary of Agriculture and the World Agricultural Outlook Board, Gerald A. Bange, Chairperson, (202) 720-6030. This report was prepared by the Interagency Commodity Estimates Committees. Committee members are listed on page 30. APPROVED: RICHARD ROMINGER DEPUTY SECRETARY OF AGRICULTURE * * * * * * * * * * * The next issue of this report will be released 8:30 a.m. Eastern Time on Jan. 12, 1999. Remaining 1999 release dates are Feb. 10, Mar. 11, Apr. 9, May 12, June 11, July 12, Aug. 12, Sept. 10, Oct. 8, Nov. 10, and Dec. 10. USDA's 75th annual Agricultural Outlook Forum takes place February 22-23, 1999, in Arlington, Virginia. Commodity analysts, experts, and producers will discuss 1999 farm prospects and future farming trends. After the Forum get speeches electronically or in print. For details, access www.usda.gov/oce, send e-mail to agforum@oce.usda.gov, or call 202-314-3462. NOTE: WASDE REPORT AVAILABLE IN PDF FORMAT You can now download this report in both ascii text format and pdf (Adobe Acrobat) format at www.usda.gov/oce/waob/wasde/wasde.htm Acrobat files can be viewed or print in their original form, page by page. GET TIMELY DISPATCHES FROM AGRICULTURE'S NEW FRONTIER New forecasts for U.S. agriculture and presentations from USDA's Agricultural Outlook Forum 98, held February 23-24, 1998, are waiting for you. More than 60 speakers discussed farm prospects and front-burner issues ranging from biotechnology, to organic food standards, to transportation problems. DOWNLOAD SPEECHES: www.usda.gov/oce AGRICULTURAL BASELINE PROJECTIONS TO 2007, WAOB-WOAB-98-1. 124 pages, $21.00. Available now. PROCEEDINGS OF AGRICULTURAL OUTLOOK FORUM 98. WAOB-YCON-98, $25.00. Speeches and illustrations presented by speakers at the February 1998 conference. Off press April. BUY BOTH REPORTS AND SAVE. Ask for WAOB-WAOB-PKG-98, $40.00. WASDE-345-4 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/ : 1996/97 : 1,871.09 2,125.09 252.40 1,836.29 288.80 1997/98 (Est.) : 1,881.60 2,170.40 247.43 1,846.63 323.77 1998/99 (Proj.) : November : 1,848.79 2,172.38 239.10 1,865.96 306.42 December : 1,845.32 2,169.08 240.74 1,863.75 305.34 Wheat : 1996/97 : 582.95 688.69 125.27 577.40 111.29 1997/98 (Est.) : 610.97 722.27 118.73 585.66 136.61 1998/99 (Proj.) : November : 588.29 725.14 114.59 601.38 123.76 December : 585.77 722.38 114.69 599.41 122.97 Coarse grains 4/ : 1996/97 : 907.97 1,006.33 106.97 879.60 126.73 1997/98 (Est.) : 886.49 1,013.22 102.92 878.01 135.21 1998/99 (Proj.) : November : 883.86 1,018.83 102.65 879.60 139.23 December : 882.18 1,017.39 103.24 878.96 138.43 Rice, milled : 1996/97 : 380.17 430.07 20.16 379.29 50.79 1997/98 (Est.) : 384.13 434.92 25.78 382.96 51.95 1998/99 (Proj.) : November : 376.63 428.41 21.87 384.98 43.43 December : 377.36 429.32 22.82 385.38 43.94 : : United States Total grains 3/ : 1996/97 : 335.20 366.45 81.27 245.23 39.95 1997/98 (Est.) : 340.03 385.78 76.35 250.70 58.74 1998/99 (Proj.) : November : 349.17 413.23 82.37 257.38 73.49 December : 349.17 413.39 83.00 258.15 72.24 Wheat : 1996/97 : 62.19 74.94 27.25 35.61 12.07 1997/98 (Est.) : 68.76 83.41 28.31 35.44 19.66 1998/99 (Proj.) : November : 69.60 91.72 31.30 37.91 22.51 December : 69.60 91.72 31.30 37.91 22.51 Coarse grains 4/ : 1996/97 : 267.56 284.93 51.52 206.40 27.01 1997/98 (Est.) : 265.42 295.37 45.25 211.94 38.17 1998/99 (Proj.) : November : 273.67 314.41 48.29 215.94 50.18 December : 273.67 314.58 48.93 216.73 48.93 Rice, milled : 1996/97 : 5.45 6.58 2.50 3.22 0.87 1997/98 (Est.) : 5.84 7.00 2.78 3.31 0.90 1998/99 (Proj.) : November : 5.89 7.11 2.78 3.53 0.81 December : 5.89 7.10 2.78 3.52 0.81 =============================================================================== 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-345-5 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/ : 1996/97 : 1,535.89 1,758.65 171.13 1,591.06 248.86 1997/98 (Est.) : 1,541.57 1,784.62 171.08 1,595.93 265.03 1998/99 (Proj.) : November : 1,499.62 1,759.14 156.74 1,608.58 232.93 December : 1,496.15 1,755.69 157.74 1,605.59 233.10 Wheat : 1996/97 : 520.76 613.75 98.01 541.79 99.22 1997/98 (Est.) : 542.21 638.85 90.43 550.22 116.95 1998/99 (Proj.) : November : 518.69 633.42 83.29 563.47 101.25 December : 516.17 630.66 83.39 561.50 100.46 Coarse grains 5/ : 1996/97 : 640.41 721.40 55.45 673.20 99.72 1997/98 (Est.) : 621.07 717.85 57.66 666.07 97.04 1998/99 (Proj.) : November : 610.19 704.42 54.36 663.66 89.06 December : 608.51 702.81 54.31 662.23 89.50 Rice, milled : 1996/97 : 374.72 423.49 17.67 376.07 49.92 1997/98 (Est.) : 378.29 427.92 22.99 379.65 51.05 1998/99 (Proj.) : November : 370.74 421.29 19.09 381.45 42.62 December : 371.47 422.22 20.04 381.86 43.14 =============================================================================== 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 1996/97 : 89.56 124.15 26.83 88.33 37.84 1997/98 (Est.) : 91.39 129.23 26.51 88.07 41.13 1998/99 (Proj.) : November : 83.69 123.81 24.96 86.45 37.34 December : 84.20 125.33 24.59 85.83 39.32 : United States 1996/97 : 18.94 21.95 6.87 11.13 3.97 1997/98 (Est.) : 18.79 22.78 7.50 11.35 3.89 1998/99 (Proj.) : November : 13.23 17.42 4.50 10.60 2.30 December : 13.45 17.74 4.30 10.60 2.80 : Foreign 3/ 1996/97 : 70.61 102.20 19.96 77.20 33.86 1997/98 (Est.) : 72.60 106.45 19.01 76.72 37.24 1998/99 (Proj.) : November : 70.45 106.39 20.46 75.85 35.04 December : 70.74 107.59 20.29 75.23 36.52 =============================================================================== 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-345-6 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 : 1996/97 : 261.16 283.21 49.42 218.85 16.42 1997/98 (Est.) : 285.65 302.07 53.69 228.93 22.24 1998/99 (Proj.) : November : 288.00 310.21 53.28 235.63 25.32 December : 287.99 310.23 53.42 235.47 25.35 Oilmeals : 1996/97 : 149.06 155.69 50.32 150.24 5.74 1997/98 (Est.) : 155.74 161.49 51.48 155.27 5.61 1998/99 (Proj.) : November : 160.97 166.57 54.37 160.71 5.41 December : 161.09 166.70 54.84 160.85 5.37 Vegetable Oils : 1996/97 : 75.64 83.09 28.90 75.07 7.36 1997/98 (Est.) : 76.33 83.83 29.42 76.64 6.85 1998/99 (Proj.) : November : 79.93 86.78 29.95 79.82 6.60 December : 79.91 86.75 30.06 79.88 6.58 : : United States Oilseeds : 1996/97 : 74.82 81.47 24.63 44.13 4.64 1997/98 (Est.) : 83.57 88.88 24.45 48.94 6.44 1998/99 (Proj.) : November : 84.12 91.24 23.58 48.59 10.63 December : 84.20 91.37 23.58 48.32 10.91 Oilmeals : 1996/97 : 33.76 35.03 6.60 28.21 0.23 1997/98 (Est.) : 37.48 39.06 8.69 30.07 0.30 1998/99 (Proj.) : November : 37.20 38.98 7.99 30.73 0.26 December : 37.05 38.85 7.86 30.75 0.24 Vegetable Oils : 1996/97 : 8.46 11.19 1.61 8.62 0.96 1997/98 (Est.) : 9.63 12.17 2.13 9.05 0.99 1998/99 (Proj.) : November : 9.66 12.23 1.98 9.19 1.06 December : 9.61 12.20 1.98 9.20 1.03 : : Foreign 3/ Oilseeds : 1996/97 : 186.34 201.74 24.78 174.72 11.78 1997/98 (Est.) : 202.08 213.19 29.24 179.98 15.79 1998/99 (Proj.) : November : 203.88 218.98 29.70 187.04 14.69 December : 203.79 218.86 29.85 187.15 14.44 Oilmeals : 1996/97 : 115.30 120.66 43.72 122.03 5.52 1997/98 (Est.) : 118.26 122.43 42.80 125.20 5.31 1998/99 (Proj.) : November : 123.76 127.58 46.38 129.98 5.15 December : 124.04 127.85 46.98 130.10 5.13 Vegetable Oils : 1996/97 : 67.18 71.90 27.29 66.45 6.39 1997/98 (Est.) : 66.70 71.66 27.28 67.60 5.86 1998/99 (Proj.) : November : 70.26 74.56 27.97 70.62 5.54 December : 70.29 74.55 28.08 70.68 5.56 =============================================================================== 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-345-7 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :============================== : : Est. : November December =============================================================================== Area : Million acres Planted : 75.6 71.0 66.2 66.2 Harvested : 62.9 63.6 59.1 59.1 Yield per harvested : Bushels acre : 36.3 39.7 43.3 43.3 : Million bushels Beginning stocks : 376 444 722 722 Production : 2,285 2,527 2,557 2,557 Imports : 92 95 90 90 Supply, total : 2,753 3,065 3,370 3,370 Food : 891 917 925 925 Seed : 103 93 93 93 Feed and residual : 314 293 375 375 Domestic, total : 1,308 1,302 1,393 1,393 Exports : 1,001 1,040 1,150 1,150 Use, total : 2,310 2,342 2,543 2,543 Ending stocks : 444 722 827 827 CCC inventory : 93 94 95 95 Free stocks : 351 628 732 732 Avg. farm price ($/bu) 2/ : 4.30 3.38 2.55- 2.75 2.60- 2.80 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 1997/98 (estimated) : Million bushels Beginning stocks : 143 166 45 59 31 444 Production : 1,121 501 484 335 86 2,527 Supply, total 3/ : 1,264 723 529 402 146 3,065 Domestic use : 600 263 269 107 63 1,302 Exports : 358 240 180 205 57 1,040 Use, total : 958 503 449 312 120 2,342 Ending stocks, total : 306 220 80 90 26 722 : 1998/99 (projected) : Beginning stocks : 306 220 80 90 26 722 Production : 1,188 487 443 298 141 2,557 Supply, total 3/ : 1,496 762 523 396 193 3,370 Domestic use : 606 253 320 126 88 1,393 Exports : 520 290 85 215 40 1,150 Use, total : 1,126 543 405 342 128 2,543 Ending stocks, total : December : 370 219 118 55 66 827 November : 370 215 113 67 63 827 =============================================================================== 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-345-8 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :============================== : : Est. : November December =============================================================================== FEED GRAINS : Area : Million acres Planted : 104.5 102.4 101.9 101.9 Harvested : 94.5 92.4 90.4 90.4 Yield per harvested : Metric tons acre : 2.83 2.87 3.02 3.02 : Million metric tons Beginning stocks : 14.4 27.0 38.2 38.2 Production : 267.3 265.2 273.3 273.3 Imports : 2.8 2.8 2.5 2.6 Supply, total : 284.6 295.0 314.0 314.1 Feed and residual : 156.8 159.8 162.2 162.3 Food, seed & industrial : 49.2 51.8 53.3 54.0 Domestic, total : 206.1 211.6 215.5 216.3 Exports : 51.5 45.3 48.3 48.9 Use, total : 257.6 256.8 263.8 265.2 Ending stocks, total : 27.0 38.2 50.2 48.9 CCC inventory : 0.1 0.1 0.1 0.1 Free stocks : 26.9 38.1 50.1 48.8 Outstanding loans : 5.0 8.5 8.8 8.8 : CORN : Area : Million acres Planted : 79.5 80.2 80.8 80.8 Harvested : 73.1 73.7 73.8 73.8 Yield per harvested : Bushels acre : 127.1 127.0 133.3 133.3 : Million bushels Beginning stocks : 426 883 1,308 1,308 Production : 9,293 9,366 9,836 9,836 Imports : 13 9 10 10 Supply, total : 9,733 10,258 11,154 11,154 Feed and residual : 5,362 5,664 5,850 5,850 Food, seed & industrial : 1,692 1,782 1,850 1,880 Domestic, total : 7,054 7,445 7,700 7,730 Exports : 1,795 1,504 1,675 1,700 Use, total : 8,849 8,950 9,375 9,430 Ending stocks, total : 883 1,308 1,779 1,724 CCC inventory : 2 4 4 4 Free stocks : 881 1,304 1,775 1,720 Outstanding loans : 179 310 325 325 Avg. farm price ($/bu) 2/ : 2.71 2.43 1.80- 2.20 1.80- 2.20 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. WASDE-345-9 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :============================== : : Est. : November December =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 13.2 10.1 9.7 9.7 Area harv. (mil. acres) : 11.9 9.4 7.8 7.8 Yield (bushels/acre) : 67.5 69.5 66.5 66.5 Beginning stocks : 18 47 49 49 Production : 803 653 521 521 Imports : 0 0 0 0 Supply, total : 821 701 570 570 Feed : 524 385 275 275 Food, seed & industrial : 45 55 45 45 Total domestic : 569 440 320 320 Exports : 205 212 195 195 Use, total : 774 652 515 515 Ending stocks, total : 47 49 55 55 Avg. farm price ($/bu) 2/ : 2.34 2.21 1.65- 2.05 1.65- 2.05 : BARLEY : Area planted (mil. acres) : 7.1 6.9 6.5 6.5 Area harv. (mil. acres) : 6.8 6.4 6.0 6.0 Yield (bushels/acre) : 58.5 58.3 59.9 59.9 Beginning stocks : 100 109 120 120 Production : 396 374 358 358 Imports : 37 40 30 30 Supply, total : 532 524 508 508 Feed : 220 158 185 185 Food, seed & industrial : 172 172 172 172 Total domestic : 392 330 357 357 Exports : 31 74 35 35 Use, total : 423 404 392 392 Ending stocks, total : 109 120 116 116 Avg. farm price ($/bu) 2/ : 2.74 2.38 1.80- 2.10 1.80- 2.10 : OATS : Area planted (mil. acres) : 4.7 5.2 4.9 4.9 Area harv. (mil. acres) : 2.7 2.9 2.8 2.8 Yield (bushels/acre) : 57.8 60.5 60.5 60.5 Beginning stocks : 66 67 74 74 Production : 155 176 170 170 Imports : 97 98 90 100 Supply, total : 319 341 334 344 Feed : 155 170 165 165 Food, seed & industrial : 95 95 95 95 Total domestic : 250 265 260 260 Exports : 3 2 2 2 Use, total : 252 267 262 262 Ending stocks, total : 67 74 72 82 Avg. farm price ($/bu) 2/ : 1.96 1.60 1.10- 1.20 1.10- 1.20 =============================================================================== 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-345-10 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :============================== : : Est. : November December =============================================================================== TOTAL : Area : Million acres Planted : 2.82 3.06 3.22 3.22 Harvested : 2.80 3.03 3.19 3.19 Yield per harvested : Pounds acre : 6,121 5,896 5,660 5,660 : Million hundredweight Beginning stocks 2/ : 25.0 27.2 27.7 27.7 Production : 171.3 178.9 180.4 180.4 Imports : 10.0 9.2 10.0 9.5 Supply, total : 206.3 215.3 218.0 217.5 Domestic & residual 3/ : 100.7 102.4 108.4 107.9 Exports, total 4/ : 78.4 85.2 85.0 85.0 Rough : 12.6 26.1 24.0 24.0 Milled (rough equiv.) : 65.9 59.1 61.0 61.0 Use, total : 179.1 187.6 193.4 192.9 Ending stocks : 27.2 27.7 24.6 24.6 Avg. farm price ($/cwt) 5/ : 9.96 9.64 9.00- 9.50 9.00- 9.50 : LONG GRAIN : Harvested acres (mil.) : 1.96 2.26 Yield (pounds/acre) : 5,777 5,380 Beginning stocks : 10.1 14.1 14.3 14.3 Production : 113.4 121.6 132.4 132.4 Supply, total 6/ : 132.2 143.7 155.5 155.0 Domestic & Residual 3/ : 61.6 59.7 71.4 70.9 Exports 7/ : 56.5 69.7 70.0 70.0 Use, total : 118.1 129.4 141.4 140.9 Ending stocks : 14.1 14.3 14.1 14.1 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.84 0.77 Yield (pounds/acre) : 6,926 7,406 Beginning stocks : 14.3 12.1 12.3 12.3 Production : 58.0 57.2 48.0 48.0 Supply, total 6/ : 73.2 70.5 61.5 61.5 Domestic & Residual 3/ : 39.1 42.7 37.0 37.0 Exports 7/ : 22.0 15.5 15.0 15.0 Use, total : 61.0 58.2 52.0 52.0 Ending stocks : 12.1 12.3 9.5 9.5 =============================================================================== 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): 1996/97-0.6; 1997/98-1.0; 1998/99-1.0. 3/ Residual includes unreported use, processing losses and estimating errors. Use by type may not add to total rice use because of the difference in brokens between beginning and ending stocks. 4/ Includes rough rice and milled rice exports. Milled rice exports are converted to an equivalent rough basis. 5/ Marketing-year weighted average price received by farmers. 6/ Includes imports. 7/ Exports by type of rice are estimated. WASDE-345-11 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :=============================== : : Est. : November December =============================================================================== SOYBEANS: : Million acres Area : Planted : 64.2 70.6 72.7 72.7 Harvested : 63.4 69.6 71.6 71.6 : : Bushels Yield per harvested : acre : 37.6 38.8 38.6 38.6 : : Million bushels : Beginning stocks : 183 131 200 200 Production : 2,382 2,703 2,763 2,763 Imports : 9 5 6 6 Supply, total : 2,575 2,839 2,968 2,968 Crushings : 1,436 1,597 1,615 1,605 Exports : 882 870 840 840 Seed : 83 86 86 86 Residual : 43 85 62 62 Use, total : 2,443 2,639 2,603 2,593 Ending stocks : 131 200 365 375 Avg. farm price ($/bu) 2/ : 7.35 6.48 5.15- 5.75 5.15 - 5.75 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 2,015 1,520 1,384 1,382 Production : 15,752 18,143 _3/ 18,250 18,135 Imports : 53 60 56 58 Supply, total : 17,821 19,724 19,690 19,575 Domestic : 14,263 15,264 15,400 15,350 Exports : 2,037 3,077 2,700 2,700 Use, total : 16,300 18,341 18,100 18,050 Ending stocks : 1,520 1,382 1,590 1,525 Average price (c/lb) 2/ : 22.50 25.84 25.50- 25.00- : 28.00 27.50 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 212 210 218 218 Production : 34,210 38,171 _3/ 38,232 38,057 Imports : 102 55 50 50 Supply, total : 34,524 38,436 38,500 38,325 Domestic : 27,320 28,888 29,600 29,600 Exports : 6,994 9,330 8,650 8,500 Use, total : 34,314 38,218 38,250 38,100 Ending stocks : 210 218 250 225 Average price ($/s.t.) 2/ : 270.90 185.54 135.00- 135.00- : 155.00 155.00 =============================================================================== Note: Reliability calculations at end of report. 1/ Marketing year beginning September 1 for soybeans; October 1 for soybean oil and meal. 2/ Prices: soybeans, marketing year weighted average price received by farmers; for oil, simple average of crude soybean oil, Decatur; for meal, simple average of 48 percent, Decatur. 3/ Based on October year crush estimate of 1,610 million bushels. WASDE-345-12 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :====================== : : Estimate : November December ====================================================================== : 1,000 short tons, raw value Beginning stocks 2/ : 1,492 1,488 1,675 1,679 Production 2/3/ : 7,205 8,020 8,047 8,127 Beet sugar : 4,013 4,389 4,500 4,500 Cane sugar 4/ : 3,192 3,631 3,547 3,627 Imports 2/ : 2,774 2,163 2,178 2,178 TRQ 5/ : 2,277 1,729 1,733 1,733 Other 6/ : 497 434 445 445 Total supply : 11,471 11,671 11,900 11,984 : Exports 2/7/ : 211 179 175 175 Domestic deliveries 2/ : 9,742 9,815 10,025 10,025 Domestic food use : 9,564 9,672 9,855 9,855 Other 8/ : 178 143 170 170 Miscellaneous 9/ : 30 (2) 0 0 Use, total : 9,983 9,992 10,200 10,200 Ending stocks 2/ : 1,488 1,679 1,700 1,784 : Stocks to use ratio : 14.9 16.8 16.7 17.5 ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. 2/ Historical data are from FSA, "Sweetener Market Data" except 1996/97 imports from U.S. Customs Service. 3/ Projections for 1998/99 are based on December Crop Production report and analyses by the Interagency Commodity Estimates Committee for sugar. 4/ Production by state for 1997/98 (projected 1998/99): FL 1,924 (1,975); HI 350 (340); LA 1,262 (1,220); TX 80 (85); PR 16 (7). 5/ Actual arrivals under the tariff rate quota (TRQ) with late entries, early entries, and TRQ overfills assigned to the fiscal year in which they actually arrived. The 1998/99 TRQ includes a forecast 75,000 tons shortfall. 6/ Quota exempt imports (for reexport, for polyhydric alcohol, sugar syrup under USHTS 1702904000, and high-duty). 7/ Mostly reexports. 8/ Transfer to sugar containing products for reexport, for nonedible alcohol, and feed. 9/ Residual. METRIC CONVERSION FACTORS 1 Hectare = 2.4710 Acres 1 Kilogram = 2.205 Pounds --------------------------------------------------------------------- 1 Metric Ton : = Domestic Unit * Factor --------------------------------------------------------------------- Wheat & Soybeans : = bushels * .027216 Rice : = cwt * .045359 Rapeseed & Sunflowerseed : = cwt * .045359 Corn, Sorghum & Rye : = bushels * .025401 Barley : = bushels * .021772 Oats : = bushels * .014515 Sugar : = short tons * .907185 Cotton : = 480-lb bales * .217720 --------------------------------------------------------------------- WASDE-345-13 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :=============================== : : Est. : November December =============================================================================== : Million acres Area : Planted : 14.63 13.81 12.87 12.87 Harvested : 12.87 13.27 10.37 10.39 : : Pounds Yield per harvested : acre : 707 680 612 621 : : Million 480 pound bales : Beginning stocks 2/ : 2.61 3.97 3.89 3.89 Production : 18.94 18.79 13.23 13.45 Imports : 0.40 0.01 0.30 0.40 Supply, total : 21.95 22.78 17.42 17.74 Domestic use : 11.13 11.35 10.60 10.60 Exports : 6.87 7.50 4.50 4.30 Use, total : 17.99 18.85 15.10 14.90 Unaccounted 3/ : -0.01 0.04 0.02 0.04 Ending stocks : 3.97 3.89 2.30 2.80 : Avg. farm price 4/ : 69.3 65.2 66.5 5/ =============================================================================== Note: Reliability calculations at end of report. 1/ Upland and extra-long staple; marketing year beginning August 1. Totals may not add due to rounding. 2/ Based on Bureau of Census data. 3/ Reflects the difference between the previous season's supply less total use and ending stocks based on Bureau of Census data. 4/ Cents per pound. 5/ Weighted average for August-October 1998. WASDE-345-14 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1996/97 : World 3/ : 105.75 582.95 120.03 96.81 577.40 125.27 111.29 United States : 10.23 62.19 2.51 8.54 35.61 27.25 12.07 Total foreign : 95.51 520.76 117.51 88.26 541.79 98.01 99.22 Major exporters 4/ : 19.47 167.91 23.22 43.89 96.42 87.18 27.00 Argentina : 0.15 15.90 0.03 0.45 5.08 10.20 0.80 Australia : 1.48 23.70 0.05 1.18 3.60 19.23 2.40 Canada : 6.73 29.80 0.24 4.39 8.22 19.50 9.05 EU-15 : 11.12 98.51 22.90 37.87 79.51 38.26 14.76 Major importers 5/ : 37.36 173.26 37.08 15.86 205.87 3.03 38.80 Brazil : 0.22 3.20 5.57 0.05 8.41 0.00 0.58 China : 24.25 110.57 2.69 3.40 112.39 0.96 24.17 East. Europe : 7.13 26.13 5.15 10.60 31.28 1.57 5.55 N. Africa : 2.00 15.98 14.39 0.36 27.53 0.09 4.76 Pakistan : 2.90 16.91 3.01 0.45 20.12 0.00 2.70 Selected other : India : 12.00 62.10 1.45 0.35 66.84 1.70 7.00 FSU-12 6/ : 10.86 63.30 6.64 22.50 70.81 3.52 6.47 Russia : 2.95 34.90 2.55 14.34 38.07 0.67 1.65 Kazakstan : 0.73 7.70 0.01 1.50 5.12 2.25 1.07 : : 1997/98 (Estimated) : World 3/ : 111.29 610.97 118.37 102.64 585.66 118.73 136.61 United States : 12.07 68.76 2.58 7.97 35.44 28.31 19.66 Total foreign : 99.22 542.21 115.79 94.67 550.22 90.43 116.95 Major exporters 4/ : 27.00 152.71 21.50 46.23 98.42 79.45 23.34 Argentina : 0.80 14.80 0.02 0.35 4.70 10.50 0.42 Australia : 2.40 19.42 0.03 2.60 5.00 15.50 1.34 Canada : 9.05 24.28 0.20 3.37 7.37 20.17 5.99 EU-15 : 14.76 94.21 21.25 39.92 81.36 33.28 15.59 Major importers 5/ : 38.80 187.51 37.19 17.89 209.52 4.38 49.59 Brazil : 0.58 2.40 5.70 0.00 8.13 0.00 0.54 China : 24.17 123.30 1.90 5.00 114.86 1.14 33.37 East. Europe : 5.55 34.41 1.86 11.33 32.02 2.75 7.05 N. Africa : 4.76 10.18 17.40 0.31 28.05 0.09 4.20 Pakistan : 2.70 16.65 4.13 0.30 20.26 0.01 3.21 Selected other : India : 7.00 69.28 1.73 0.35 68.41 0.00 9.60 FSU-12 6/ : 6.47 80.51 6.09 24.00 72.66 3.80 16.60 Russia : 1.65 44.20 2.70 16.00 39.61 0.90 8.04 Kazakstan : 1.07 8.95 0.00 1.20 4.80 1.90 3.32 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada and the EU-15 (includes intra-trade). 5/ Algeria, Brazil, China, Eastern Europe, Egypt, Japan, Libya, Morocco, Pakistan, and Tunisia. 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-345-15 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: =============================================================================== : : 1998/99 (Projected) World 3/ : November : 136.85 588.29 114.06 109.64 601.38 114.59 123.76 December : 136.61 585.77 114.54 109.49 599.41 114.69 122.97 United States : November : 19.66 69.60 2.45 10.21 37.91 31.30 22.51 December : 19.66 69.60 2.45 10.21 37.91 31.30 22.51 Total foreign : November : 117.18 518.69 111.61 99.43 563.47 83.29 101.25 December : 116.95 516.17 112.09 99.28 561.50 83.39 100.46 Major exporters 4/ : November : 23.88 159.16 21.07 52.03 104.65 71.11 28.35 December : 23.34 158.76 21.07 51.98 104.46 71.11 27.60 Argentina Nov : 0.72 10.50 0.03 0.30 4.85 6.00 0.40 Dec : 0.42 10.00 0.03 0.10 4.60 5.50 0.35 Australia Nov : 1.34 22.00 0.03 3.00 5.30 15.00 3.07 Dec : 1.34 21.00 0.03 3.00 5.30 14.00 3.07 Canada Nov : 5.99 23.30 0.20 4.20 8.20 15.00 6.29 Dec : 5.99 24.40 0.20 4.20 8.20 15.50 6.89 EU-15 Nov : 15.83 103.36 20.81 44.53 86.31 35.11 18.58 Dec : 15.59 103.36 20.81 44.68 86.36 36.11 17.30 Major importers 5/ : November : 49.59 178.78 33.26 19.06 213.98 4.04 43.62 December : 49.59 178.78 33.26 19.06 213.98 4.04 43.62 Brazil Nov : 0.54 2.20 6.10 0.20 8.30 0.00 0.54 Dec : 0.54 2.20 6.10 0.20 8.30 0.00 0.54 China Nov : 33.37 110.00 2.00 5.00 116.00 1.00 28.37 Dec : 33.37 110.00 2.00 5.00 116.00 1.00 28.37 East. Europe Nov : 7.05 33.87 1.36 12.30 33.77 2.55 5.96 Dec : 7.05 33.87 1.36 12.30 33.77 2.55 5.96 N. Africa Nov : 4.20 13.41 15.60 0.31 28.56 0.09 4.56 Dec : 4.20 13.41 15.60 0.31 28.56 0.09 4.56 Pakistan Nov : 3.21 18.70 2.00 0.30 21.05 0.00 2.86 Dec : 3.21 18.70 2.00 0.30 21.05 0.00 2.86 Selected other : India Nov : 9.60 67.00 1.50 0.35 69.80 0.00 8.30 Dec : 9.60 66.05 1.65 0.35 69.00 0.00 8.30 FSU-12 6/ Nov : 16.45 57.90 6.58 21.02 70.89 3.75 6.29 Dec : 16.60 56.90 7.58 21.02 70.89 3.90 6.29 Russia Nov : 8.04 28.00 3.70 13.70 37.70 0.75 1.29 Dec : 8.04 27.00 4.70 13.70 37.70 0.75 1.29 Kazakstan Nov : 3.32 5.00 0.00 1.30 4.90 1.80 1.62 Dec : 3.32 5.00 0.00 1.30 4.90 1.80 1.62 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada and the EU-15 (includes intra-trade). 5/ Algeria, Brazil, China, Eastern Europe, Egypt, Japan, Libya, Morocco, Pakistan, and Tunisia. 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-345-16 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: =============================================================================== : : 1996/97 : World 3/ : 98.36 907.97 103.59 576.94 879.60 106.97 126.73 United States : 14.44 267.56 2.93 156.94 206.40 51.52 27.01 Total foreign : 83.92 640.41 100.66 420.00 673.20 55.45 99.72 Major exporters 4/ : 6.48 66.85 1.26 32.89 41.95 23.57 9.07 Argentina : 0.71 18.93 0.08 4.79 6.78 11.84 1.11 Australia : 0.66 10.15 0.01 4.50 5.74 4.41 0.67 Canada : 2.90 28.19 0.92 19.14 21.77 5.40 4.85 Major importers 5/ : 24.05 196.99 64.66 171.88 234.32 24.62 26.76 EU-15 : 9.83 103.75 16.90 72.58 95.52 22.79 12.17 East. Europe : 4.16 49.52 1.85 38.34 49.62 1.71 4.21 Japan : 2.06 0.24 20.66 16.44 20.85 0.00 2.11 Mexico : 3.43 26.49 5.37 15.87 31.55 0.04 3.70 Southeast Asia : 1.33 14.31 3.99 13.41 18.33 0.07 1.24 South Korea : 0.75 0.49 8.77 6.97 9.15 0.00 0.86 Selected other : China : 35.70 141.32 2.11 89.55 128.59 4.00 46.54 FSU-12 6/ : 4.93 52.15 1.71 33.54 53.91 1.55 3.32 Russia : 1.49 31.65 0.83 19.92 32.64 0.35 0.98 Ukraine : 1.74 9.51 0.03 5.70 10.19 0.23 0.86 : : 1997/98 (Estimated) : World 3/ : 126.73 886.49 100.38 584.60 878.01 102.92 135.21 United States : 27.01 265.42 2.94 159.95 211.94 45.25 38.17 Total foreign : 99.72 621.07 97.44 424.66 666.07 57.66 97.04 Major exporters 4/ : 9.07 67.31 2.05 35.58 45.19 22.84 10.40 Argentina : 1.11 24.67 0.01 6.44 8.62 14.76 2.41 Australia : 0.67 9.47 0.01 4.40 5.63 3.09 1.44 Canada : 4.85 25.12 1.52 20.38 23.24 3.75 4.50 Major importers 5/ : 26.76 206.91 64.00 172.77 234.47 24.24 38.96 EU-15 : 12.17 109.39 17.40 73.63 96.12 20.08 22.76 East. Europe : 4.21 58.54 1.07 42.37 53.55 3.09 7.19 Japan : 2.11 0.20 21.03 16.28 20.69 0.00 2.65 Mexico : 3.70 23.16 7.93 16.50 31.74 0.50 2.55 Southeast Asia : 1.24 13.20 3.29 11.03 16.11 0.57 1.04 South Korea : 0.86 0.35 7.66 6.08 8.37 0.00 0.50 Selected other : China : 46.54 114.65 1.81 93.83 129.59 6.20 27.20 FSU-12 6/ : 3.32 67.87 1.49 37.64 58.18 3.13 11.38 Russia : 0.98 40.85 0.61 20.99 33.84 1.55 7.06 Ukraine : 0.86 15.35 0.00 8.23 12.73 0.93 2.56 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and South Africa. 5/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, South Korea, Taiwan, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-345-17 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: =============================================================================== : : 1998/99 (Projected) World 3/ : November : 134.97 883.86 100.64 581.79 879.60 102.65 139.23 December : 135.21 882.18 101.02 579.97 878.96 103.24 138.43 United States : November : 38.17 273.67 2.56 162.44 215.94 48.29 50.18 December : 38.17 273.67 2.73 162.46 216.73 48.93 48.93 Total foreign : November : 96.79 610.19 98.08 419.36 663.66 54.36 89.06 December : 97.03 608.51 98.28 417.51 662.23 54.31 89.50 Major exporters 4/ : November : 10.40 61.50 1.64 35.83 45.56 19.34 8.64 December : 10.40 61.65 1.19 35.93 45.66 18.64 8.94 Argentina Nov : 2.41 18.99 0.01 6.37 8.48 11.16 1.77 Dec : 2.41 17.49 0.01 6.37 8.48 10.16 1.28 Australia Nov : 1.44 8.31 0.01 4.46 5.64 3.13 0.99 Dec : 1.44 8.11 0.01 4.46 5.64 2.93 0.99 Canada Nov : 4.50 25.15 1.21 20.64 23.48 3.55 3.83 Dec : 4.50 26.50 0.76 20.74 23.58 3.55 4.63 Major importers 5/ : November : 39.01 196.92 61.86 170.85 232.88 27.76 37.14 December : 38.95 197.51 61.56 170.42 232.41 28.11 37.49 EU-15 Nov : 22.81 104.13 18.30 74.13 96.18 25.11 23.95 Dec : 22.76 104.15 18.40 74.00 96.01 25.46 23.84 East. Europe Nov : 7.19 49.68 0.74 39.99 51.03 2.25 4.32 Dec : 7.19 50.28 0.74 40.09 51.13 2.25 4.82 Japan Nov : 2.65 0.23 20.09 16.09 20.49 0.00 2.48 Dec : 2.65 0.23 20.09 16.09 20.49 0.00 2.48 Mexico Nov : 2.55 25.10 7.17 16.53 32.32 0.10 2.40 Dec : 2.55 25.10 7.17 16.53 32.32 0.10 2.40 Southeast Asia Nov : 1.04 15.25 2.75 11.74 17.30 0.30 1.44 Dec : 1.04 15.25 2.75 11.74 17.30 0.30 1.44 South Korea Nov : 0.50 0.49 7.20 5.50 7.71 0.00 0.49 Dec : 0.50 0.49 6.80 5.10 7.31 0.00 0.49 Selected other : China Nov : 27.20 135.65 2.50 95.50 130.95 4.10 30.30 Dec : 27.20 135.65 2.40 95.40 130.85 4.10 30.30 FSU-12 6/ Nov : 11.38 40.81 2.13 28.51 49.02 1.33 3.98 Dec : 11.38 39.81 2.63 27.91 48.72 1.33 3.78 Russia Nov : 7.06 21.10 1.25 15.80 28.20 0.20 1.01 Dec : 7.06 20.90 1.75 15.60 28.50 0.20 1.01 Ukraine Nov : 2.56 11.10 0.00 6.10 11.10 0.80 1.76 Dec : 2.56 10.30 0.00 5.70 10.50 0.80 1.56 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and South Africa. 5/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, South Korea, Taiwan, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-345-18 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1996/97 : World 3/ : 69.08 591.44 71.06 393.98 569.14 73.26 91.38 United States : 10.82 236.06 0.34 136.21 179.19 45.60 22.43 Total foreign : 58.26 355.38 70.72 257.76 389.95 27.66 68.95 Major exporters 4/ : 2.60 24.51 0.11 6.78 11.27 12.75 3.20 Argentina : 0.40 15.50 0.00 2.78 4.32 10.83 0.75 South Africa : 2.20 9.01 0.11 4.00 6.95 1.92 2.45 Major importers 5/ : 11.82 93.88 48.28 92.72 131.63 9.73 12.62 EU-15 : 2.33 34.79 10.17 27.50 35.96 8.06 3.28 Japan : 1.07 0.00 15.96 12.00 16.10 0.00 0.93 Mexico : 2.60 18.92 3.14 7.10 22.17 0.04 2.45 Southeast Asia : 1.33 14.11 3.99 13.22 18.12 0.07 1.24 South Korea : 0.75 0.07 8.34 6.64 8.30 0.00 0.86 Selected other : China : 34.70 127.47 0.08 86.00 113.35 3.89 45.00 FSU-12 6/ : 1.69 4.73 0.43 3.47 5.76 0.25 0.85 Russia : 0.16 1.10 0.19 0.44 1.29 0.00 0.16 : : 1997/98 (Estimated) : World 3/ : 91.38 578.06 71.63 410.49 583.65 73.01 85.80 United States : 22.43 237.90 0.22 143.86 189.12 38.21 33.22 Total foreign : 68.95 340.16 71.40 266.63 394.53 34.79 52.58 Major exporters 4/ : 3.20 26.91 0.35 7.90 12.55 14.25 3.66 Argentina : 0.75 19.36 0.00 3.90 5.50 13.00 1.61 South Africa : 2.45 7.55 0.35 4.00 7.05 1.25 2.05 Major importers 5/ : 12.62 100.96 48.12 94.66 132.78 13.32 15.59 EU-15 : 3.28 38.60 11.20 30.83 38.78 9.74 4.56 Japan : 0.93 0.00 16.42 11.80 15.90 0.00 1.45 Mexico : 2.45 17.00 4.37 7.07 21.82 0.50 1.50 Southeast Asia : 1.24 13.00 3.29 10.84 15.91 0.57 1.04 South Korea : 0.86 0.09 7.53 6.05 7.98 0.00 0.50 Selected other : China : 45.00 104.30 0.33 91.00 117.45 6.17 26.00 FSU-12 6/ : 0.85 10.46 0.43 6.86 9.12 0.45 2.16 Russia : 0.16 2.70 0.19 1.55 2.49 0.00 0.56 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina and South Africa. 5/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, South Korea, Taiwan, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-345-19 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: =============================================================================== : : 1998/99 (Projected) World 3/ : November : 85.45 597.35 69.56 414.61 588.68 70.79 94.13 December : 85.80 597.04 69.56 413.31 588.13 70.93 94.71 United States : November : 33.22 249.85 0.25 148.60 195.59 42.55 45.19 December : 33.22 249.85 0.25 148.60 196.35 43.18 43.79 Total foreign : November : 52.23 347.50 69.31 266.01 393.09 28.25 48.94 December : 52.58 347.19 69.31 264.72 391.78 27.75 50.92 Major exporters 4/ : November : 3.66 23.50 0.25 7.90 12.75 11.50 3.16 December : 3.66 22.50 0.25 7.90 12.75 11.00 2.66 Argentina Nov : 1.61 15.00 0.00 3.90 5.50 10.00 1.11 Dec : 1.61 13.50 0.00 3.90 5.50 9.00 0.61 South Africa Nov : 2.05 8.50 0.25 4.00 7.25 1.50 2.05 Dec : 2.05 9.00 0.25 4.00 7.25 2.00 2.05 Major importers 5/ : November : 15.64 90.86 45.68 91.82 130.24 11.71 10.23 December : 15.59 92.23 45.68 91.82 130.24 11.71 11.55 EU-15 Nov : 4.60 33.16 11.57 30.52 38.01 9.54 1.79 Dec : 4.56 34.06 11.57 30.52 38.01 9.54 2.64 Japan Nov : 1.45 0.00 15.50 11.60 15.70 0.00 1.26 Dec : 1.45 0.00 15.50 11.60 15.70 0.00 1.26 Mexico Nov : 1.50 18.00 4.25 7.00 22.25 0.10 1.40 Dec : 1.50 18.00 4.25 7.00 22.25 0.10 1.40 Southeast Asia Nov : 1.04 15.05 2.75 11.55 17.10 0.30 1.44 Dec : 1.04 15.05 2.75 11.55 17.10 0.30 1.44 South Korea Nov : 0.50 0.09 6.50 4.90 6.60 0.00 0.49 Dec : 0.50 0.09 6.50 4.90 6.60 0.00 0.49 Selected other : China Nov : 26.00 124.00 0.25 93.00 117.25 4.00 29.00 Dec : 26.00 124.00 0.25 93.00 117.25 4.00 29.00 FSU-12 6/ Nov : 2.16 5.49 0.89 4.73 6.89 0.40 1.25 Dec : 2.16 4.89 0.89 4.13 6.29 0.40 1.25 Russia Nov : 0.56 1.20 0.65 1.45 2.25 0.00 0.16 Dec : 0.56 1.00 0.65 1.25 2.05 0.00 0.16 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina and South Africa. 5/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, South Korea, Taiwan, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-345-20 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 : =============================================================================== : : 1996/97 World 3/ : 49.90 380.17 16.99 379.29 20.16 50.79 United States : 0.81 5.45 0.32 3.22 2.50 0.87 Total foreign : 49.09 374.72 16.67 376.07 17.67 49.92 Major exporters 4/ : 12.33 117.28 0.00 106.54 12.48 10.59 Thailand : 0.81 13.66 0.00 8.55 5.27 0.65 Vietnam : 0.00 18.00 0.00 14.74 3.27 0.00 Major importers 5/ : 7.72 51.59 7.49 59.70 1.33 5.77 Indonesia : 2.62 32.08 0.81 33.98 0.00 1.53 Selected other : China : 21.73 136.57 0.33 132.13 0.94 25.56 Japan : 2.48 9.41 0.50 9.25 0.10 3.05 : : 1997/98 (Estimated) World 3/ : 50.79 384.13 23.93 382.96 25.78 51.95 United States : 0.87 5.84 0.29 3.31 2.78 0.90 Total foreign : 49.92 378.29 23.64 379.65 22.99 51.05 Major exporters 4/ : 10.59 120.40 0.00 105.74 14.64 10.61 Thailand : 0.65 15.05 0.00 8.75 6.10 0.85 Vietnam : 0.00 18.87 0.00 15.12 3.75 0.00 Major importers 5/ : 5.77 48.18 13.43 60.93 1.22 5.22 Indonesia : 1.53 30.23 5.90 35.48 0.00 2.18 Selected other : China : 25.56 140.49 0.30 135.90 3.50 26.95 Japan : 3.05 9.12 0.60 9.20 0.75 2.82 : : 1998/99 (Projected) World 3/ : November : 51.77 376.63 20.63 384.98 21.87 43.43 December : 51.95 377.36 20.84 385.38 22.82 43.94 United States : November : 0.90 5.89 0.32 3.53 2.78 0.81 December : 0.90 5.89 0.30 3.52 2.78 0.81 Total foreign : November : 50.87 370.74 20.31 381.45 19.09 42.62 December : 51.05 371.47 20.54 381.86 20.04 43.14 Major exporters 4/ : November : 10.00 119.05 0.00 106.75 13.30 9.00 December : 10.61 119.05 0.00 106.85 13.90 8.91 Thailand Nov : 0.85 14.95 0.00 9.00 5.80 1.00 Dec : 0.85 14.95 0.00 9.00 5.80 1.00 Vietnam Nov : 0.00 18.00 0.00 14.50 3.50 0.00 Dec : 0.00 18.50 0.00 15.00 3.50 0.00 Major importers 5/ : November : 5.09 52.51 9.74 61.03 1.21 5.11 December : 5.22 52.48 9.74 61.00 1.21 5.24 Indonesia Nov : 2.18 33.00 2.00 35.20 0.00 1.98 Dec : 2.18 33.00 2.00 35.20 0.00 1.98 Selected other : China Nov : 27.15 132.00 0.50 137.00 1.25 21.40 Dec : 26.95 133.00 0.50 137.00 1.25 22.20 Japan Nov : 2.82 7.90 0.70 9.15 0.40 1.87 Dec : 2.82 7.90 0.70 9.15 0.40 1.87 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Hong Kong, Indonesia, Iran, Iraq, Ivory Coast, Nigeria, Philippines, Saudi Arabia, the EU-15 (includes intra-trade) and Non-EU Western Europe. WASDE-345-21 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 1996/97 World 2/ : 17.51 131.73 36.41 115.47 135.82 36.96 12.86 United States : 4.99 64.84 0.24 39.08 42.50 24.00 3.58 Total foreign : 12.51 66.89 36.16 76.39 93.32 12.96 9.29 Major exporters 3/ : 10.02 40.77 1.20 31.49 33.86 11.32 6.80 Argentina : 4.22 11.20 0.30 11.05 11.56 0.75 3.40 Brazil : 5.80 26.80 0.90 19.90 21.68 8.42 3.40 Major importers 4/ : 1.76 16.40 27.43 31.32 43.24 0.56 1.80 EU-15 : 0.82 1.14 15.31 14.67 16.09 0.35 0.84 Japan : 0.55 0.15 5.04 3.81 5.11 0.00 0.64 China : 0.00 13.22 2.27 8.69 15.30 0.20 0.00 : : 1997/98 (Estimated) World 2/ : 12.86 156.19 40.23 126.89 149.94 40.20 19.15 United States : 3.58 73.55 0.14 43.46 48.14 23.69 5.44 Total foreign : 9.29 82.64 40.10 83.43 101.80 16.51 13.71 Major exporters 3/ : 6.80 52.50 2.70 33.50 36.45 14.12 11.43 Argentina : 3.40 18.70 1.00 13.00 13.85 3.17 6.08 Brazil : 3.40 31.00 1.70 20.00 22.00 8.75 5.35 Major importers 4/ : 1.80 18.35 29.90 35.04 47.43 0.94 1.68 EU-15 : 0.84 1.57 16.87 16.34 17.71 0.75 0.82 Japan : 0.64 0.15 4.87 3.72 5.02 0.00 0.63 China : 0.00 14.73 2.94 10.40 17.50 0.17 0.00 : : 1998/99 (Projected) World 2/ : November : 19.09 153.66 38.83 128.97 150.71 38.60 22.26 December : 19.15 154.13 39.02 129.28 151.12 38.93 22.24 United States : November : 5.44 75.19 0.16 43.95 47.99 22.86 9.93 December : 5.44 75.19 0.16 43.68 47.72 22.86 10.21 Total foreign : November : 13.65 78.47 38.66 85.02 102.72 15.74 12.33 December : 13.71 78.94 38.85 85.60 103.40 16.07 12.03 Major exporters 3/ : November : 11.43 48.60 1.40 34.70 37.65 13.70 10.08 December : 11.43 49.10 1.40 35.30 38.25 13.90 9.78 Argentina Nov : 6.08 16.50 0.40 14.00 14.95 3.00 5.03 Dec : 6.08 17.00 0.40 14.20 15.15 3.20 5.13 Brazil Nov : 5.35 29.00 1.00 20.10 22.00 8.30 5.05 Dec : 5.35 29.00 1.00 20.50 22.40 8.30 4.65 Major importers 4/ : November : 1.62 17.55 29.28 34.23 46.07 0.72 1.66 December : 1.68 17.45 29.53 34.38 46.29 0.70 1.66 EU-15 Nov : 0.76 1.84 15.50 15.50 16.70 0.52 0.88 Dec : 0.82 1.74 15.80 15.70 16.95 0.52 0.88 Japan Nov : 0.63 0.18 4.70 3.65 4.96 0.00 0.54 Dec : 0.63 0.18 4.70 3.65 4.96 0.00 0.54 China Nov : 0.00 13.50 3.60 10.13 16.90 0.20 0.00 Dec : 0.00 13.50 3.60 10.13 16.92 0.18 0.00 =============================================================================== 1/ Data based on local marketing years except Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported export and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil and Paraguay. 4/ Japan, China, and EU, Mexico, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). WASDE-345-22 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 1996/97 World 2/ : 4.31 91.78 34.35 92.70 33.96 3.78 United States : 0.19 31.04 0.09 24.78 6.34 0.19 Total foreign : 4.12 60.75 34.26 67.92 27.61 3.59 Major exporters 3/ : 1.39 27.65 0.20 6.36 21.79 1.08 Argentina : 0.30 9.01 0.00 0.38 8.68 0.25 Brazil : 0.97 15.72 0.20 5.40 10.66 0.84 India : 0.11 2.92 0.00 0.58 2.45 0.00 Major importers 4/ : 1.43 19.63 23.32 38.63 4.54 1.22 EU-15 : 1.12 11.62 14.71 22.07 4.49 0.90 China : 0.00 6.95 3.60 10.53 0.02 0.00 : : 1997/98 (Estimated) World 2/ : 3.78 100.75 36.45 100.24 36.98 3.76 United States : 0.19 34.63 0.05 26.21 8.46 0.20 Total foreign : 3.59 66.12 36.40 74.04 28.52 3.56 Major exporters 3/ : 1.08 30.12 0.10 7.24 22.66 1.41 Argentina : 0.25 10.60 0.00 0.39 9.86 0.60 Brazil : 0.84 15.73 0.10 5.55 10.30 0.81 India : 0.00 3.80 0.00 1.30 2.50 0.00 Major importers 4/ : 1.22 22.16 24.83 42.63 4.49 1.08 EU-15 : 0.90 12.75 16.34 24.60 4.46 0.92 China : 0.00 8.31 4.07 12.36 0.02 0.00 : : 1998/99 (Projected) World 2/ : November : 3.76 102.06 38.05 101.89 38.22 3.76 December : 3.76 102.39 38.38 102.22 38.59 3.71 United States : November : 0.20 34.68 0.05 26.85 7.85 0.23 December : 0.20 34.52 0.05 26.85 7.71 0.20 Total foreign : November : 3.56 67.38 38.01 75.04 30.37 3.53 December : 3.56 67.87 38.33 75.37 30.88 3.51 Major exporters 3/ : November : 1.41 31.32 0.10 7.05 24.35 1.43 December : 1.41 31.75 0.10 7.01 24.85 1.40 Argentina Nov : 0.60 11.41 0.00 0.40 11.00 0.61 Dec : 0.60 11.57 0.00 0.40 11.20 0.57 Brazil Nov : 0.81 15.81 0.10 5.75 10.15 0.82 Dec : 0.81 16.12 0.10 5.75 10.45 0.83 India Nov : 0.00 4.10 0.00 0.90 3.20 0.00 Dec : 0.00 4.06 0.00 0.86 3.20 0.00 Major importers 4/ : November : 1.08 21.41 25.62 42.56 4.43 1.12 December : 1.08 21.48 25.77 42.77 4.44 1.13 EU-15 Nov : 0.92 12.07 16.95 24.66 4.29 0.98 Dec : 0.92 12.22 16.95 24.82 4.29 0.99 China Nov : 0.00 8.10 4.40 12.50 0.00 0.00 Dec : 0.00 8.10 4.40 12.49 0.01 0.00 =============================================================================== 1/ Data based on local marketing years except for Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil, and India. 4/ Eastern Europe, China, EU, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). WASDE-345-23 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 1996/97 World 2/ : 2.64 20.67 5.88 20.71 5.92 2.55 United States : 0.91 7.14 0.02 6.47 0.92 0.69 Total foreign : 1.72 13.52 5.85 14.24 5.00 1.86 Major exporters 3/ : 0.85 8.27 0.64 4.50 4.40 0.85 Argentina : 0.28 1.91 0.00 0.10 1.79 0.30 Brazil : 0.38 3.72 0.18 2.60 1.29 0.38 EU-15 : 0.20 2.63 0.46 1.80 1.32 0.17 Major importers 4/ : 0.37 2.05 1.93 3.80 0.08 0.47 China : 0.35 1.39 1.67 2.89 0.08 0.45 Pakistan : 0.02 0.01 0.21 0.21 0.00 0.02 : : 1997/98 (Estimated) World 2/ : 2.55 22.96 6.81 22.89 6.82 2.63 United States : 0.69 8.23 0.03 6.92 1.40 0.63 Total foreign : 1.86 14.74 6.78 15.96 5.42 2.00 Major exporters 3/ : 0.85 8.93 0.69 4.67 4.88 0.92 Argentina : 0.30 2.25 0.00 0.10 2.11 0.34 Brazil : 0.38 3.74 0.20 2.72 1.18 0.42 EU-15 : 0.17 2.94 0.49 1.84 1.60 0.16 Major importers 4/ : 0.47 2.52 2.11 4.47 0.04 0.60 China : 0.45 1.66 1.65 3.15 0.04 0.58 Pakistan : 0.02 0.00 0.23 0.23 0.00 0.02 : : 1998/99 (Projected) World 2/ : November : 2.64 23.28 6.71 23.41 6.78 2.45 December : 2.63 23.35 6.89 23.53 6.92 2.41 United States : November : 0.63 8.28 0.03 6.98 1.23 0.72 December : 0.63 8.23 0.03 6.96 1.23 0.69 Total foreign : November : 2.01 15.01 6.68 16.42 5.55 1.72 December : 2.00 15.12 6.86 16.57 5.69 1.72 Major exporters 3/ : November : 0.92 8.95 0.71 4.74 4.95 0.88 December : 0.92 9.09 0.71 4.74 5.09 0.89 Argentina Nov : 0.34 2.42 0.00 0.11 2.32 0.34 Dec : 0.34 2.45 0.00 0.11 2.34 0.34 Brazil Nov : 0.42 3.74 0.21 2.78 1.20 0.39 Dec : 0.42 3.82 0.21 2.78 1.28 0.40 EU-15 Nov : 0.16 2.78 0.50 1.86 1.43 0.15 Dec : 0.16 2.82 0.50 1.86 1.47 0.15 Major importers 4/ : November : 0.60 2.56 2.18 4.87 0.05 0.42 December : 0.60 2.54 2.20 4.87 0.05 0.42 China Nov : 0.58 1.62 1.75 3.50 0.05 0.40 Dec : 0.58 1.62 1.75 3.50 0.05 0.40 Pakistan Nov : 0.02 0.01 0.28 0.29 0.00 0.02 Dec : 0.02 0.01 0.25 0.26 0.00 0.02 =============================================================================== 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-345-24 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : 3/ : : 3/ : : =============================================================================== : : 1996/97 : World : 34.59 89.56 29.09 88.33 26.83 0.25 37.84 United States : 2.61 18.94 0.40 11.13 6.87 -0.01 3.97 Total foreign : 31.99 70.61 28.68 77.20 19.96 0.25 33.86 Major exporters 5/ : 10.94 39.56 0.59 23.33 15.94 0.07 11.75 Pakistan : 1.36 7.32 0.28 7.00 0.12 0.02 1.82 India : 4.16 13.92 0.04 12.37 1.19 0.00 4.56 Central Asia 6/ : 2.02 6.57 0.01 1.10 6.03 0.00 1.47 Afr. Fr. Zone 7/ : 0.42 3.67 0.01 0.30 3.31 0.00 0.49 S. Hemis. 8/ : 2.48 5.35 0.23 1.30 4.41 0.02 2.33 Australia : 0.75 2.79 4/ 0.21 2.38 0.00 0.95 Argentina : 1.35 1.49 0.01 0.47 1.33 0.01 1.04 Major importers : 19.21 27.26 22.87 46.39 2.45 0.18 20.32 Brazil : 1.15 1.29 2.43 3.90 0.00 0.00 0.96 Mexico : 0.34 1.08 0.95 1.60 0.45 0.04 0.28 China : 13.20 19.30 3.61 21.35 0.01 0.00 14.76 Europe : 2.03 1.95 6.22 6.65 1.61 0.05 1.88 Turkey : 0.54 3.60 1.36 4.74 0.21 0.00 0.56 Selected Asia 9/ : 1.95 0.05 8.31 8.15 0.18 0.10 1.88 Indonesia : 0.12 0.02 2.15 2.14 0.00 0.05 0.10 South Korea : 0.55 4/ 1.50 1.48 0.07 0.00 0.51 : : 1997/98 (Estimated) : World : 37.84 91.39 26.74 88.07 26.51 0.26 41.13 United States : 3.97 18.79 0.01 11.35 7.50 0.04 3.89 Total foreign : 33.86 72.60 26.72 76.72 19.01 0.22 37.24 Major exporters 5/ : 11.75 39.68 0.68 23.74 15.79 0.08 12.50 Pakistan : 1.82 7.00 0.15 7.10 0.35 0.03 1.49 India : 4.56 12.26 0.25 12.50 0.30 0.00 4.27 Central Asia 6/ : 1.47 7.21 0.01 1.09 5.68 0.00 1.92 Afr. Fr. Zone 7/ : 0.49 4.32 4/ 0.31 3.69 0.00 0.80 S. Hemis. 8/ : 2.33 5.70 0.25 1.34 4.40 0.03 2.52 Australia : 0.95 3.06 4/ 0.21 2.71 0.00 1.09 Argentina : 1.04 1.35 0.05 0.49 0.90 0.01 1.05 Major importers : 20.32 29.69 20.56 45.58 1.92 0.14 22.93 Brazil : 0.96 1.75 1.85 3.40 0.00 0.00 1.16 Mexico : 0.28 0.96 1.60 2.05 0.25 0.04 0.51 China : 14.76 21.10 1.83 20.80 0.03 0.00 16.86 Europe : 1.88 2.13 6.22 6.75 1.38 0.05 2.05 Turkey : 0.56 3.70 1.45 5.00 0.10 0.00 0.61 Selected Asia 9/ : 1.88 0.05 7.61 7.58 0.16 0.05 1.75 Indonesia : 0.10 0.02 1.90 1.85 0.00 0.05 0.12 South Korea : 0.51 4/ 1.32 1.38 0.05 0.00 0.41 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ For foreign countries, reflects cotton lost or destroyed in the marketing channel; for the United States, reflects the difference between implicit stocks based on supply less total use and ending stocks based on Bureau of Census data. 3/ World trade includes estimated trade among the 12 countries of the former USSR and three Baltic states of 1.61 million bales in 1996/97 and 1.81 million in 1997/98. 4/ Less than 5,000 bales. 5/ Includes Egypt, and Syria in addition to the countries and regions listed. 6/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 7/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 8/ Argentina, Australia, Paraguay, South Africa, Tanzania, and Zimbabwe. 9/ Hong Kong, Indonesia, Japan, South Korea, Taiwan, and Thailand. WASDE-345-25 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : 3/ : : 3/ : : =============================================================================== : : 1998/99 (Projected) World : November : 40.12 83.69 25.19 86.45 24.96 0.25 37.34 December : 41.13 84.20 24.67 85.83 24.59 0.27 39.32 United States : November : 3.89 13.23 0.30 10.60 4.50 0.02 2.30 December : 3.89 13.45 0.40 10.60 4.30 0.04 2.80 Total foreign : November : 36.24 70.45 24.89 75.85 20.46 0.23 35.04 December : 37.24 70.74 24.27 75.23 20.29 0.23 36.52 Major exporters 5/ : November : 11.40 39.70 0.60 24.11 15.62 0.08 11.89 December : 12.50 40.00 0.45 23.90 15.64 0.08 13.32 Pakistan Nov : 1.49 7.50 0.10 7.30 0.20 0.03 1.57 Dec : 1.49 7.50 0.10 7.30 0.20 0.03 1.57 India Nov : 3.18 12.50 0.25 12.50 0.25 0.00 3.18 Dec : 4.27 13.00 0.13 12.30 0.40 0.00 4.70 Central Asia 6/Nov : 1.92 6.82 0.01 1.16 5.45 0.00 2.13 Dec : 1.92 6.62 0.01 1.16 5.33 0.00 2.06 Afr. Fr. Zn. 7/Nov : 0.80 4.32 4/ 0.34 3.84 0.00 0.94 Dec : 0.80 4.29 4/ 0.34 3.79 0.00 0.96 S. Hemis 8/ Nov : 2.51 5.87 0.23 1.36 4.48 0.03 2.75 Dec : 2.52 6.04 0.20 1.35 4.53 0.03 2.85 Australia Nov : 1.09 3.20 4/ 0.23 2.90 0.00 1.17 Dec : 1.09 3.30 4/ 0.23 2.90 0.00 1.27 Argentina Nov : 1.05 1.50 0.03 0.49 0.90 0.01 1.18 Dec : 1.05 1.50 0.03 0.49 0.90 0.01 1.18 Major importers Nov : 23.03 27.47 18.81 44.36 3.60 0.14 21.20 Dec : 22.93 27.47 18.36 43.96 3.40 0.14 21.25 Brazil Nov : 1.16 1.80 1.45 3.25 0.00 0.00 1.16 Dec : 1.16 1.80 1.45 3.25 0.00 0.00 1.16 Mexico Nov : 0.51 1.00 1.45 2.20 0.15 0.04 0.57 Dec : 0.51 1.00 1.45 2.20 0.15 0.04 0.57 China Nov : 16.86 18.80 0.75 19.80 1.80 0.00 14.81 Dec : 16.86 18.80 0.65 19.80 1.50 0.00 15.01 Europe Nov : 2.05 2.11 6.30 6.81 1.40 0.05 2.21 Dec : 2.05 2.11 6.30 6.81 1.40 0.05 2.21 Turkey Nov : 0.71 3.70 1.25 4.80 0.10 0.00 0.76 Dec : 0.61 3.70 0.90 4.40 0.20 0.00 0.61 Sel. Asia 9/ Nov : 1.75 0.05 7.61 7.50 0.15 0.05 1.70 Dec : 1.75 0.05 7.61 7.50 0.15 0.05 1.70 Indonesia Nov : 0.12 0.02 1.90 1.85 0.00 0.05 0.14 Dec : 0.12 0.02 1.90 1.85 0.00 0.05 0.14 S. Korea Nov : 0.41 4/ 1.33 1.33 0.05 0.00 0.36 Dec : 0.41 4/ 1.33 1.33 0.05 0.00 0.36 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ For foreign countries, reflects cotton lost or destroyed in the marketing channel; for the United States, reflects the difference between implicit stocks based on supply less total use and ending stocks based on Bureau of Census data. 3/ World trade includes estimated trade among the 12 countries of the former USSR and three Baltic states of 1.53 million bales. 4/ Less than 5,000 bales. 5/ Includes Egypt, and Syria in addition to the countries and regions listed. 6/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 7/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 8/ Argentina, Australia, Paraguay, South Africa, Tanzania, and Zimbabwe. 9/ Hong Kong, Indonesia, Japan, South Korea, Taiwan, and Thailand. WASDE-345-26 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 1997 : IV : 6258 4766 11167 6831 1428 8383 19550 1667 38.2 Annual : 25384 17244 43209 27271 5478 33258 76467 6460 156.6 : 1998 : I : 6215 4687 11038 6845 1290 8258 19296 1637 39.2 II : 6463 4430 11015 6991 1321 8453 19468 1635 40.9 III : 6638 4625 11380 6937 1302 8370 19750 1653 38.7 IV *: 6370 5200 11690 7025 1325 8475 20165 1700 38.5 Annual : Nov Proj : 25589 18844 44929 27770 5237 33527 78456 6635 157.4 Dec Proj : 25686 18942 45123 27798 5238 33556 78679 6625 157.4 : 1999 : I *: 6000 4800 10919 7125 1175 8435 19354 1665 39.8 II *: 6000 4700 10813 7400 1325 8870 19683 1675 41.5 III *: 6200 4800 11111 7400 1375 8910 20021 1700 39.5 Annual : Nov Proj : 23925 19425 43815 29200 5250 34995 78810 6790 160.1 Dec Proj : 24075 19425 43963 29225 5250 35020 78983 6790 160.1 =============================================================================== * 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 1997 : IV : 66.61 43.53 54.0 66.5 88.2 14.53 Annual : 66.32 51.36 58.8 64.9 81.2 13.34 : 1998 : I : 61.73 34.74 56.4 55.1 79.0 14.60 II : 64.16 39.42 61.0 59.1 66.5 13.73 III : 58.97 33.30 70.4 63.4 76.0 15.37 IV *: 62-63 21-22 63-64 70-71 82-83 17.75-17.95 Annual : Nov Proj : 62.47 32.87 62.7 61.9 76.1 15.25-15.35 Dec Proj : 61.84 32.24 62.8 62.0 76.0 15.35-15.45 1999 : I *: 67-71 30-32 57-59 55-57 73-77 16.85-17.35 II *: 72-78 33-35 57-61 58-62 62-68 13.10-13.90 III *: 69-75 36-38 58-62 61-67 67-73 12.60-13.60 Annual : Nov Proj : 70-75 33-35 56-60 60-64 70-75 13.70-14.60 Dec Proj : 69-75 32-34 56-60 60-65 70-75 14.20-15.00 =============================================================================== *Projection. 1/ Nebraska, Direct, 1100-1300 lbs. 2/ Iowa/So. Minn., No. 1-3. 3/ Wholesale, 12-city average. 4/ 8-16 lbs, hens, Eastern Region. 5/ Grade A large, New York, volume buyers. 6/ Price received by farmers for all milk. WASDE-345-27 U.S. Meats Supply and Use ============================================================================ : Supply : Use :--------------------------------------------------------- : : : : : : : Consumption : : Pro- : : : : :--------------- : Beg- : duc- : : : : End- : : Per Item :inning: tion : Im- :Total : Ex- : ing : :capita :stocks: 1/ :ports :supply: ports:stocks:Total : 2/ ============================================================================ : Million pounds 3/ BEEF : 1997 : 377 25490 2343 28210 2136 465 25609 66.9 1998 Proj. Nov : 465 25695 2626 28786 2135 400 26251 68.0 Dec : 465 25792 2611 28868 2158 400 26310 68.2 1999 Proj. Nov : 400 24031 2790 27221 2315 350 24556 63.0 Dec : 400 24181 2790 27371 2340 350 24681 63.3 : PORK : 1997 : 366 17274 633 18273 1044 408 16821 48.7 1998 Proj. Nov : 408 18874 660 19942 1260 475 18207 52.3 Dec : 408 18972 680 20060 1232 475 18353 52.7 1999 Proj. Nov : 475 19455 700 20630 1340 490 18800 53.5 Dec : 475 19455 700 20630 1355 490 18785 53.4 : TOTAL RED MEAT 4/ : 1997 : 759 43358 3059 47176 3185 895 43096 117.8 1998 Proj. Nov : 895 45078 3379 49352 3400 892 45060 122.2 Dec : 895 45272 3384 49551 3395 892 45264 122.8 1999 Proj. Nov : 892 43964 3575 48431 3660 857 43914 118.3 Dec : 892 44112 3575 48579 3700 857 44022 118.5 : BROILERS : 1997 : 641 27041 5 27687 4664 607 22416 72.7 1998 Proj. Nov : 607 27531 5 28142 4683 625 22834 73.4 Dec : 607 27559 5 28170 4466 625 23079 74.2 1999 Proj. Nov : 625 28943 4 29572 4525 650 24397 77.7 Dec : 625 28968 4 29597 4325 650 24622 78.4 : TURKEYS : 1997 : 328 5412 1 5741 598 415 4727 17.6 1998 Proj. Nov : 415 5173 1 5589 421 300 4867 18.0 Dec : 415 5174 1 5590 428 300 4861 18.0 1999 Proj. Nov : 300 5186 1 5487 430 275 4781 17.5 Dec : 300 5186 1 5487 430 275 4781 17.5 : TOTAL POULTRY 5/ : 1997 : 975 32964 6 33944 5646 1029 27269 90.8 1998 Proj. Nov : 1029 33225 6 34260 5539 932 27788 91.8 Dec : 1029 33254 6 34289 5314 932 28042 92.6 1999 Proj. Nov : 932 34675 5 35612 5367 930 29314 95.7 Dec : 932 34699 5 35637 5167 930 29539 96.5 : RED MEAT & POULTRY: 1997 : 1734 76322 3065 81120 8831 1924 70364 208.6 1998 Proj. Nov : 1924 78303 3385 83612 8939 1824 72848 214.0 Dec : 1924 78526 3390 83840 8709 1824 73306 215.4 1999 Proj. Nov : 1824 78639 3580 84043 9027 1787 73228 214.0 Dec : 1824 78811 3580 84216 8867 1787 73561 215.0 ============================================================================ 1/ Total including farm production for red meats and, for poultry, federally inspected plus non-federally inspected, less condemnations. 2/ Pounds, retail-weight basis. 3/ Carcass weight for red meats and certified ready-to-cook weight for poultry. 4/ Beef, pork, veal, lamb and mutton. 5/ Broilers, turkeys and mature chicken. WASDE-345-28 U.S. Egg Supply and Use =============================================================================== : : : 1998 Projected : 1999 Projected : : :-----------------:----------------- Commodity : 1996 : 1997 : Nov : Dec : Nov : Dec =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 11.2 8.5 7.4 7.4 5.0 5.0 Production : 6371.3 6459.8 6635.3 6625.3 6790.0 6790.0 Imports : 5.4 6.9 5.9 5.6 4.0 4.0 Total supply : 6387.9 6475.2 6648.6 6638.3 6799.0 6799.0 : Use : Exports : 253.1 227.8 226.2 226.5 243.0 243.0 Hatching use : 863.8 894.8 921.6 921.6 970.0 970.0 Ending stocks : 8.5 7.4 5.0 5.0 5.0 5.0 Consumption : Total : 5262.4 5345.2 5495.8 5485.2 5581.0 5581.0 Per capita (number) : 237.8 239.4 244.1 243.6 245.5 245.5 =============================================================================== U.S. Milk Supply, Use and Prices =============================================================================== : : : 1997/98 Proj 1/: 1998/99 Proj 1/ Commodity :1995/96:1996/97:-----------------:----------------- : 1/ : 1/ : Nov : Dec : Nov : Dec =============================================================================== MILK : Billion pounds Supply : Beg. commercial stocks 2/ : 4.6 4.9 5.9 5.9 5.8 5.8 Production : 154.1 156.4 157.0 157.0 159.3 159.3 Farm use : 1.5 1.4 1.4 1.4 1.3 1.3 Marketings : 152.5 155.0 155.6 155.6 158.0 158.0 Imports 2/ : 2.8 2.8 4.0 4.0 3.8 3.8 Total cml. supply 2/ : 159.9 162.7 165.6 165.6 167.5 167.5 Use : Commercial use 2/ 3/ : 154.9 156.1 159.1 159.1 161.4 161.4 Ending commercial stks. 2/: 4.9 5.9 5.8 5.8 5.8 5.8 CCC net removals: : Milkfat basis 4/ : 0.1 0.7 0.7 0.7 0.3 0.3 Skim-solids basis 4/ : 1.1 2.7 4.5 4.5 3.5 3.5 : : Dollars per cwt Prices rec'd. by farmers : Basic Formula (BFP) : 13.50 11.88 13.28 13.28 12.80- 13.45- : 13.50 14.05 All milk 5/ : 14.49 13.53 14.56 14.56 14.55- 15.10- : 15.25 15.70 : : Million pounds CCC product net removals 4/: Butter : 1 24 21 21 5 5 Cheese : 5 10 8 8 7 7 Nonfat dry milk : 84 222 368 368 285 285 Dry whole milk : 7 7 15 15 9 9 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning October 1. 2/ Milk equivalent, milkfat basis. 3/ Includes commercial exports. 4/ Includes products exported under the Dairy Export Incentive Program. 5/ Milk of average fat test. Does not reflect any deductions from producers as authorized by legislation. WASDE-345-29 Note: Tables on pages 29-31 present a 17-year record of the differences between the December projection and the final estimate. Using world wheat production as an example, changes between the December projection and the final estimate have averaged 4.3 million tons (0.8%) ranging from -10.2 to 6.1 million tons. The December projection has been below the estimate 10 times and above 7 times. Reliability of December Projections ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-97/98 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- WHEAT :Percent Million metric tons Number of years 2/ Production : World : 0.8 4.3 -10.2 6.1 10 7 U.S. : 0.3 0.2 -1.2 0.5 9 6 Foreign : 0.9 4.3 -10.3 6.3 10 7 Exports : World : 3.2 3.6 -12.6 5.7 12 5 U.S. : 4.6 1.6 -3.9 3.4 8 9 Foreign : 4.8 3.8 -11.2 5.9 14 3 Domestic use : World : 1.1 5.3 -13.0 11.0 11 6 U.S. : 6.3 1.9 -2.4 3.6 6 11 Foreign : 1.1 5.2 -16.1 8.7 12 5 Ending stocks : World : 4.1 4.8 -11.5 6.1 11 6 U.S. : 8.2 1.9 -7.0 1.9 10 7 Foreign : 3.9 3.5 -9.3 5.1 10 7 : COARSE GRAINS 3/ : Production : World : 1.0 7.8 -19.8 6.9 10 7 U.S. : 1.1 2.4 -7.5 5.8 12 5 Foreign : 1.3 7.3 -16.3 7.6 8 9 Exports : World : 4.9 5.0 -10.8 12.4 10 7 U.S. : 12.0 6.2 -11.6 12.4 8 9 Foreign : 9.1 4.5 -10.0 7.2 8 8 Domestic use : World : 1.1 9.2 -18.4 22.8 9 8 U.S. : 3.3 5.6 -17.9 16.5 9 8 Foreign : 1.3 7.9 -10.5 22.7 9 8 Ending stocks : World : 9.0 12.3 -30.3 17.5 12 5 U.S. : 17.9 9.3 -23.9 21.2 8 9 Foreign : 10.5 7.3 -19.5 8.3 13 4 : RICE, milled : Production : World : 1.8 5.8 -16.2 1.1 14 3 U.S. : 2.6 0.1 -0.3 0.2 8 7 Foreign : 1.8 5.8 -16.2 1.2 14 3 Exports : World : 8.6 1.5 -6.1 0.9 13 4 U.S. : 5.4 0.1 -0.6 0.3 8 7 Foreign : 10.1 1.4 -6.0 0.9 13 4 Domestic use : World : 1.4 4.4 -15.9 1.5 13 4 U.S. : 5.7 0.1 -0.3 0.4 9 8 Foreign : 1.4 4.4 -16.1 1.7 13 4 Ending stocks : World : 9.4 3.4 -9.6 4.8 12 5 U.S. : 11.2 0.1 -0.3 0.3 9 8 Foreign : 10.0 3.5 -9.5 4.6 12 5 ------------------------------------------------------------------------------- 1/ Footnotes at end of table. CONTINUED WASDE-345-30 Reliability of December Projections (Continued) ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-97/98 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- SOYBEANS :Percent Million metric tons Number of years 2/ Production : World : 2.3 2.5 -6.6 3.8 9 8 U.S. : 2.0 1.0 -2.7 2.1 6 11 Foreign : 3.9 2.1 -7.5 2.7 8 9 Exports : World : 3.8 1.1 -2.0 2.7 10 7 U.S. : 7.4 1.5 -2.4 4.8 9 8 Foreign : 16.6 1.3 -4.0 2.1 9 8 Domestic use : World : 2.6 2.9 -5.8 3.0 10 7 U.S. : 3.0 1.1 -3.6 1.3 12 5 Foreign : 3.1 2.2 -3.8 3.4 10 7 Ending stocks : World : 12.1 2.1 -4.0 5.2 8 9 U.S. : 25.9 2.0 -2.8 4.9 5 12 Foreign : 13.9 1.5 -2.7 2.7 9 8 : COTTON : Million 480-pound bales Production : World : 2.5 2.1 -6.3 4.4 7 9 U.S. : 1.4 0.2 -0.5 0.4 7 9 Foreign : 3.0 2.1 -6.7 4.3 7 9 Exports : World : 4.3 1.0 -2.7 1.2 10 7 U.S. : 11.4 0.6 -1.2 1.1 9 8 Foreign : 5.7 1.0 -3.3 1.6 8 8 Mill use : World : 1.9 1.6 -6.0 1.6 8 9 U.S. : 4.1 0.3 -0.9 0.6 12 4 Foreign : 2.0 1.4 -5.5 2.1 8 9 Ending stocks : World : 10.9 3.6 -8.1 9.4 7 10 U.S. : 19.6 0.8 -1.4 2.1 4 13 Foreign : 10.9 3.3 -8.6 8.9 9 8 ------------------------------------------------------------------------------- 1/ Final estimate for 1981/82-97/98 is defined as the first November estimate following the marketing year. 2/ May not total 17 if projections was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet and mixed grain. WASDE-345-31 Reliability of United States December Projections 1/ ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-97/98 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- CORN :Percent Million bushels Number of years 3/ Production : 1.2 81 -250 159 11 5 Exports : 12.1 213 -450 408 8 9 Domestic use : 3.7 211 -574 535 11 6 Ending stocks : 21.2 361 -986 907 8 9 : SORGHUM : Production : 2.5 18 -53 52 9 8 Exports : 13.6 33 -90 97 11 5 Domestic use : 9.5 47 -114 127 7 10 Ending stocks : 37.0 43 -104 82 8 9 : BARLEY : Production : 1.3 6 -12 24 7 7 Exports : 18.3 13 -37 30 7 9 Domestic use : 5.1 21 -30 70 8 8 Ending stocks : 10.5 17 -39 28 11 5 : OATS : Production : 0.9 4 -18 16 6 5 Exports : 58.4 2 -4 7 4 6 Domestic use : 3.7 16 -39 36 9 8 Ending stocks : 14.0 18 -46 52 11 6 : : Thousand short tons SOYBEAN MEAL : Production : 2.9 875 -2578 937 11 6 Exports : 9.7 643 -1900 941 10 7 Domestic use : 2.5 544 -1206 675 12 5 Ending stocks : 31.5 72 -214 188 6 10 : : Million pounds SOYBEAN OIL : Production : 3.0 408 -1418 745 12 5 Exports : 22.9 342 -900 964 9 8 Domestic use : 2.6 316 -985 500 11 6 Ending stocks : 18.1 246 -501 708 9 8 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 2.9 691 -441 2038 10 5 Pork : 3.2 504 -1240 1592 8 7 Broilers : 1.4 275 -729 512 11 4 Turkeys : 1.9 83 -161 181 11 4 : : Million dozen Eggs : 1.4 85 -140 163 10 5 : : Billion pounds Milk : 1.3 1.9 -5.7 5.6 6 9 ------------------------------------------------------------------------------- 1/ See pages 29 and 30 for record of reliability for U.S. wheat, rice, soybeans and cotton. 2/ Final estimate for 1981/82-97/98 is defined as the first November estimate following the marketing year. 3/ May not total 17 for crops and 15 for animal production if projection was the same as the final estimate. 4/ Calendar years 1983 thru 1997 for meats and eggs; October-September years 1982/83 thru 1996/97 for milk. Final for animal products is defined as latest annual production estimate published by NASS. ---- END OF FILE ----