ISSN: 1554-9089 WASDE-424 July 12, 2005 This report adopts U.S. area, yield, and production forecasts for winter wheat, durum, other spring wheat, barley, and oats released today by the National Agricultural Statistics Service (NASS). For other crops, area estimates reflect the June 30 NASS Acreage report, and methods used to project yield are noted on each table. Survey-based area, yield, and production forecasts reported by NASS will be adopted in the August 12 issue of this report. WHEAT: Projected U.S. 2005/06 ending stocks of wheat are up 81 million bushels from last month due to larger beginning stocks and higher production. Forecast winter wheat production is 20 million bushels less than last month because of lower harvested area. The first survey-based spring wheat (including durum) production forecast is up 89 million bushels from last month's projection due to higher yields. Total wheat supplies are up because of increases in production and reported carry-in stocks. Projected 2005/06 use is unchanged from last month but is down 118 million bushels from last year. The first wheat supply and demand projections by class for 2005/06 indicate a large increase in the year-to-year stocks for hard red winter, with smaller increases in the stocks of other classes. The 2005/06 projected price range is $2.60 to $3.10 per bushel, down 5 cents on each end from last month compared with an estimated $3.40 for 2004/05. Projected 2005/06 global wheat production is down fractionally from last month, use is nearly unchanged, trade is up, and stocks are down slightly. Foreign production is down 1.7 million tons due mostly to smaller crops in India (down 1.5 million) and Algeria (down 1.1 million). This is partially offset by larger crops in Ukraine, the EU-25, and Canada. Projected global imports are up 1.75 million tons with the most noteworthy changes being a 1-million increase in India's imports (the first significant imports in 6 years) and 0.6 million by Algeria. Forecast exports rise for Ukraine, Canada, and Iran. Global 2005/06 wheat stocks fall slightly with the largest declines forecast for Romania, Russia, India, and Algeria, which are only partially offset by increases in the United States and the EU- 25. COARSE GRAINS: Relative to last month, the outlook for 2005/06 U.S. corn is for smaller supplies, unchanged use, and higher prices. Forecast beginning stocks of 2005/06 corn are down 100 million bushels from last month. The decline is due to forecast increases in 2004/05 of 150 million bushels in feed and residual use and 25 million in exports, which is only partially offset by a 75 million drop in corn used for ethanol. Projected 2005/06 corn production is down 200 million bushels from last month because crop conditions indicate prospective yields are lower than the yields used last month. Sorghum production is 5 million bushels lower because the smaller harvested area reported in the Acreage report more than offsets the increase in forecast yields; crop conditions indicate prospective yields are higher than the yields used last month. The first survey- based production forecast for barley is up from last month's projection while oats is nearly unchanged. The outlook for 2005/06 feed grain use is unchanged from last month except for barley. Corn prices in 2005/06 are projected to average $1.70 to $2.10, up 15 cents on each end from last month compared with $2.00 to $2.10 for 2004/05. The global outlook for 2005/06 is for decreased coarse grains production, smaller beginning stocks, lower use, and a drop in ending stocks relative to last month. In addition to the United States, smaller crops are projected in Canada, Algeria, and other countries. Global coarse grain use is down fractionally with the largest declines occurring in Brazil and Ukraine. Global imports and exports are little changed. Global ending stocks drop 9 million tons from last month and are down 19 million from 2004/05. The largest stock declines occur in the United States, Canada, and the EU-25. RICE: U.S. rice production in 2005/06 is projected at 221 million cwt, 4 million cwt below last month and nearly 10 million cwt below record 2004/05. Estimated harvested area of 3.31 million acres reported in the Acreage report is 49,000 acres below last month, and 38,000 acres below 2004/05. The yield for 2005/06 is projected at 6,721 pounds per acre, 30 pounds per acre below last month, and 221 pounds per acre below 2004/05 record. Long-grain rice production is projected at 169.5 million cwt, 2.5 million cwt below last month, and slightly above 2004/05. Combined medium- and short-grain rice production is projected at 51.5 million cwt, 1.5 million cwt below last month, and over 10 million cwt below 2004/05. Beginning stocks for 2005/06 are projected at 35.9 million cwt, 3.5 million cwt below last month. Projected imports for 2005/06 are lowered slightly to 14.0 million cwt. Domestic and residual use is unchanged from a month ago while exports are lowered. Exports for 2005/06 are projected at 119 million cwt, 2 million below last month, but 10 million above revised 2004/05. Milled and brown rice exports are projected at 84 million cwt (rough basis), nearly 5 percent below last month, while rough rice exports are projected at 35 million cwt, 6 percent above last month. Ending stocks are projected at 25.7 million cwt, 19 percent below last month, and 28 percent below revised 2004/05. The season- average farm price range for 2005/06 is raised $0.10 per cwt on each end to $7.30 to $7.60 per cwt compared to a revised $7.25 to $7.35 per cwt for 2004/05. Tighter domestic supplies particularly for combined medium- and short-grain rice will keep prices higher in 2005/06. Projected global 2005/06 production, imports, and ending stocks are lowered from a month ago, while consumption and exports are raised. World production is projected at nearly 410 million tons, 0.5 million below a month ago. The decrease in global production is primarily due to smaller crops projected for Burma, the United States, and South Korea. World imports are lowered primarily because of a decline in China imports. Global exports are raised due mainly to an increase for India. Global ending stocks for 2005/06 are projected at 66.8 million tons, 0.5 million below last month, and 7.9 million below revised 2004/05. Projected ending stocks are down primarily because of reductions for China, India, Indonesia, Pakistan, and the United States, and partially offset by increases for the Philippines and Vietnam. OILSEEDS: U.S. oilseed ending stocks for 2005/06 are projected at 7.0 million tons, down 1.1 million tons from last month. U.S. oilseed production is projected at 89.1 million tons, down 0.1 million tons. Reduced soybean, cottonseed, and sunflowerseed production are only partly offset by higher peanut and canola production. Soybean production is projected at 2,890 million bushels (78.7 million tons), down 5 million bushels from last month because planted and harvested area in the Acreage report are below the June projections. U.S. 2005/06 soybean stocks are reduced to 210 million bushels reflecting reduced supplies and higher projected use. Supplies are reduced due to lower beginning stocks and slightly reduced production. Soybean crush is raised due to improved prospects for soybean meal use. Soybean oil production, exports, and stocks are all increased due to higher soybean crush. Price projections for soybeans and products are all higher this month. The U.S. season average soybean price for 2005/06 is projected at $5.10 to $6.10 per bushel, up 15 cents on both ends of the range. Soybean meal prices are projected at $165 to $195 per short ton, up $5.00 on both ends of the range. Soybean oil prices are projected at 21 to 24 cents per pound, up 0.5 cents on both ends of the range. Global oilseed production for 2005/06 is increased 1.7 million tons to 378.7 million tons. Foreign production is projected up 1.8 million tons, more than offsetting a small reduction for the United States. Rapeseed production is increased for Canada based on higher harvested area. Other changes include reduced sunflowerseed production for the EU-25 and increased cottonseed production for China, India, and Pakistan. Global oilseed production for 2004/05 is reduced this month mainly reflecting a 2- million ton reduction in the Brazil soybean crop. The crop is estimated at 51 million tons based on survey results recently released by the Brazilian Government. U.S. soybean crush for 2004/05 is projected at 1,690 million bushels, up 15 million bushels from last month. The increase reflects stronger-than-expected growth in domestic soybean meal use through the third quarter of the marketing year. Residual use is raised 15 million bushels this month. Supply estimates and reported use through May coupled with the June 1 stocks estimate indicate a higher residual for 2004/05. Ending stocks for 2004/05 are projected at 290 million bushels, down 30 million bushels. Note: Beginning this month, soybean flour exports previously included in domestic disappearance are included as part of soybean meal exports. As a result, historical data and forecasts for soybean meal exports are revised upward and offset by a downward revision in domestic soybean meal disappearance. Total soybean meal disappearance is unaffected. Revised data for soybean meal exports and domestic disappearance for 1989/90 through 2003/04 are available at www.usda.gov/oce/waob/wasde/wasde.htm. SUGAR: Projected U.S. sugar supply for 2005/06 is increased 145,000 short tons, raw value, from last month, due to higher beginning stocks and production. Processors' reports compiled by the Farm Service Agency put 2005/06 production at 8.15 million tons, up 12,000 tons from last month's projection. No changes are made to use. For 2004/05, higher production and imports increase supply 133,000 tons. Production is increased 43,000 tons based on processors' reports. Imports are increased 90,000 tons, as higher shortfall in filling the tariff rate quota is more than offset by higher imports under the re-export program (50,000 tons) and high-tier sugar imports from Mexico (60,000 tons). LIVESTOCK, POULTRY, AND DAIRY: Note: Due to uncertainties as to the length of the bans on trade in ruminants and ruminant products because of the discovery of BSE in the United States and Canada, forecasts for 2005 and 2006 assume a continuation of policies currently in place among U.S. trading partners. It is assumed that the current delay in the implementation of the minimal-risk rule is temporary. Subsequent forecasts will reflect any announced changes. The total U.S. meat production forecasts for 2005 and 2006 are raised slightly. Higher pork and broiler production in the second quarter of 2005 and higher forecast broilers in the third quarter offset lower second quarter beef output. In 2006, production is raised because of stronger pork and broiler output. The June 24 Quarterly Hogs and Pigs report indicated that hog producers continue to be cautious about expanding their herds. However, slightly higher expected sows farrowing and relatively strong productivity gains account for more available hogs for slaughter and increased pork output in 2006 compared with last month. Broiler production in 2006 is increased as placement and weight gains exhibited this year are expected to continue next year. Foreign demand for U.S. pork and broiler is firm. Pork exports are increased in 2005 and broilers raised in 2005 and 2006. Pork imports are forecast lower this year and next. Forecast cattle and hog prices are reduced from a month ago. Second quarter prices were weaker than expected. Cattle prices are decreased in the third quarter, and unchanged for the remaining quarters of 2005 and 2006. Hog price forecasts are lowered through each quarter of 2005 and 2006. Higher meat output is likely to place pressure on hog prices. Forecast broiler, turkey, and egg prices are unchanged. Milk production in 2005 and 2006 is forecast higher than last month as both the number of cows and milk per cow are raised. Commercial use, on both a fat and skim solids basis, is increased, but commercial stock forecasts are also raised. Cheese and nonfat dry milk price forecasts in 2005 are fractionally lower, while butter and whey are raised slightly. As a result, the Class III and Class IV prices are raised fractionally on the low end of the range. With increased milk production and higher forecast fat-basis stocks in 2006, butter and cheese prices are reduced, resulting in lower forecast Class III and Class IV prices. The all milk price for 2005 is unchanged but the range is narrowed to $14.85 to $15.15 per cwt, but the 2006 forecast is lowered to $12.90 to $13.90 per cwt. COTTON: This month's 2005/06 forecasts for the United States include a 500,000-bale increase in ending stocks resulting from lower projected exports. Beginning stocks are reduced 300,000 bales; however, the lower carry-in is offset by slightly larger production, leaving the total supply unchanged. Production is increased to 19.8 million bales, as the Acreage report indicated higher planted area. The export forecast is reduced to 14.5 million bales, due to higher foreign production and reduced imports by China. Ending stocks are forecast at 6.7 million bales, or 33 percent of total use. The world 2005/06 forecasts include an 11- percent increase in ending stocks. Approximately half of the increase is attributable to higher beginning stocks resulting from adjustments to the historical China balance sheet beginning in 1994/95 these adjustments are based mainly on recent information from Chinese officials. A full explanation of the China adjustments will be posted at 9:00 a.m. on July 12 at: www.fas.usda.gov/cotton/cotstats.html. The remainder of the change in stocks results from higher production, which is marginally offset by higher consumption. Production is raised in India, China, the United States, Pakistan, Turkmenistan, Uzbekistan, and the African Franc Zone, partially offset by a reduction for Brazil. Consumption is raised in India, Pakistan, and Turkey, with reductions in Brazil and Uzbekistan. World trade is reduced 2 percent, as a 1.0-million-bale reduction in China's imports is partially offset by increases for India and Turkey. China's imports are lowered because of larger production and because new information indicates that discrepancies in the China balance sheet, first identified in May 2005, are larger than previously indicated. World ending stocks are now forecast at nearly 49 million bales, up 4.9 millions bales from last month. 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 32. APPROVED: CHARLES F. CONNER ACTING SECRETARY OF AGRICULTURE The next issue of this report will be released at 8:30 a.m. ET on August 12, 2005. In 2005, the WASDE report will be released on Aug. 12, Sept. 12, Oct. 12, Nov. 10, and Dec. 9. 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. 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WASDE-424-6 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/ : 2003/04 : 1,857.49 2,301.47 240.55 1,947.32 354.15 2004/05 (Est.) : 2,032.84 2,386.98 232.18 1,992.87 394.12 2005/06 (Proj.) : June : 1,973.64 2,370.72 229.63 1,999.08 371.64 July : 1,966.27 2,360.38 232.27 1,998.76 361.62 Wheat : 2003/04 : 553.92 719.70 109.41 588.74 130.97 2004/05 (Est.) : 624.51 755.47 107.28 606.74 148.73 2005/06 (Proj.) : June : 612.42 761.90 107.37 617.65 144.25 July : 612.56 761.28 109.13 617.94 143.34 Coarse grains 4/ : 2003/04 : 914.08 1,081.36 103.77 945.39 135.97 2004/05 (Est.) : 1,007.12 1,143.09 99.80 972.27 170.82 2005/06 (Proj.) : June : 950.84 1,124.65 97.75 964.62 160.04 July : 943.84 1,114.66 98.20 963.20 151.45 Rice, milled : 2003/04 : 389.49 500.41 27.36 413.20 87.21 2004/05 (Est.) : 401.21 488.42 25.10 413.85 74.57 2005/06 (Proj.) : June : 410.37 484.17 24.51 416.82 67.35 July : 409.87 484.44 24.94 417.61 66.83 : : United States Total grains 3/ : 2003/04 : 345.33 395.14 88.61 262.13 44.40 2004/05 (Est.) : 385.60 434.54 84.06 276.06 74.42 2005/06 (Proj.) : June : 361.71 443.48 84.18 271.71 87.59 July : 358.63 437.55 84.11 271.82 81.62 Wheat : 2003/04 : 63.81 78.90 31.56 32.48 14.87 2004/05 (Est.) : 58.74 75.54 28.85 32.00 14.69 2005/06 (Proj.) : June : 58.24 74.49 25.86 31.79 16.85 July : 60.10 76.69 25.86 31.79 19.05 Coarse grains 4/ : 2003/04 : 275.10 308.49 53.72 226.01 28.76 2004/05 (Est.) : 319.45 350.40 51.71 240.12 58.58 2005/06 (Proj.) : June : 296.32 360.12 54.48 235.91 69.74 July : 291.52 352.25 54.48 236.01 61.76 Rice, milled : 2003/04 : 6.42 7.74 3.33 3.65 0.76 2004/05 (Est.) : 7.41 8.60 3.50 3.95 1.15 2005/06 (Proj.) : June : 7.14 8.87 3.84 4.02 1.01 July : 7.02 8.61 3.78 4.02 0.82 =============================================================================== 1/ Aggregate of local marketing years. 2/ Based on export estimate. See individual commodity tables for treatment of export/import imbalances. 3/ Wheat, coarse grains and milled rice. 4/ Corn, sorghum, barley, oats, rye, millet and mixed grains (for U.S. excludes millet and mixed grains). WASDE-424-7 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/ : 2003/04 : 1,512.16 1,906.33 151.94 1,685.19 309.75 2004/05 (Est.) : 1,647.24 1,952.44 148.12 1,716.80 319.69 2005/06 (Proj.) : June : 1,611.93 1,927.25 145.45 1,727.37 284.05 July : 1,607.63 1,922.83 148.16 1,726.94 280.00 Wheat : 2003/04 : 490.11 640.80 77.86 556.26 116.09 2004/05 (Est.) : 565.77 679.93 78.43 574.74 134.04 2005/06 (Proj.) : June : 554.18 687.41 81.52 585.86 127.41 July : 552.46 684.59 83.28 586.15 124.29 Coarse grains 5/ : 2003/04 : 638.98 772.87 50.05 719.38 107.21 2004/05 (Est.) : 687.66 792.69 48.09 732.16 112.24 2005/06 (Proj.) : June : 654.52 764.53 43.27 728.71 90.30 July : 652.32 762.41 43.72 727.19 89.70 Rice, milled : 2003/04 : 383.07 492.66 24.03 409.55 86.45 2004/05 (Est.) : 393.81 479.82 21.60 409.90 73.42 2005/06 (Proj.) : June : 403.23 475.30 20.67 412.80 66.34 July : 402.85 475.83 21.17 413.59 66.01 =============================================================================== 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 2003/04 : 95.10 137.15 33.07 98.29 40.14 2004/05 (Est.) : 119.83 159.97 33.78 108.12 51.13 2005/06 (Proj.) : June : 106.19 154.93 38.89 111.53 44.05 July : 108.60 159.73 38.11 111.76 48.95 : United States 2003/04 : 18.26 23.69 13.76 6.22 3.51 2004/05 (Est.) : 23.25 26.79 13.30 6.25 7.20 2005/06 (Proj.) : June : 19.50 27.04 15.00 5.80 6.20 July : 19.80 27.04 14.50 5.80 6.70 : Foreign 3/ 2003/04 : 76.85 113.47 19.31 92.07 36.63 2004/05 (Est.) : 96.58 133.18 20.48 101.87 43.93 2005/06 (Proj.) : June : 86.69 127.89 23.89 105.73 37.85 July : 88.80 132.69 23.61 105.96 42.25 =============================================================================== 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-424-8 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 : 2003/04 : 334.29 379.15 66.90 278.25 40.05 2004/05 (Est.) : 379.24 419.19 72.46 299.16 52.64 2005/06 (Proj.) : June : 376.96 431.66 77.13 307.25 58.24 July : 378.66 431.17 77.41 306.63 57.86 Oilmeals : 2003/04 : 189.61 195.12 58.23 189.52 4.80 2004/05 (Est.) : 202.44 207.23 58.54 201.25 4.72 2005/06 (Proj.) : June : 209.41 214.32 59.68 208.81 4.96 July : 209.11 213.83 59.85 208.21 4.77 Vegetable Oils : 2003/04 : 100.58 107.50 38.34 98.51 6.99 2004/05 (Est.) : 107.87 114.86 40.27 106.01 7.38 2005/06 (Proj.) : June : 111.42 118.68 42.57 110.38 6.96 July : 111.02 118.40 42.31 110.42 7.05 : : United States Oilseeds : 2003/04 : 76.60 82.94 24.98 45.53 4.15 2004/05 (Est.) : 96.44 101.29 31.04 49.98 9.06 2005/06 (Proj.) : June : 89.21 99.62 31.83 50.04 8.11 July : 89.14 98.74 31.80 50.25 7.02 Oilmeals : 2003/04 : 35.21 37.28 4.87 32.14 0.27 2004/05 (Est.) : 38.75 40.51 6.78 33.42 0.31 2005/06 (Proj.) : June : 38.69 40.48 5.52 34.67 0.30 July : 38.85 40.64 6.38 33.96 0.30 Vegetable Oils : 2003/04 : 8.77 11.60 0.74 10.06 0.80 2004/05 (Est.) : 9.65 12.18 0.87 10.26 1.06 2005/06 (Proj.) : June : 9.65 12.33 0.94 10.41 0.98 July : 9.72 12.47 1.03 10.40 1.04 : : Foreign 3/ Oilseeds : 2003/04 : 257.69 296.21 41.93 232.73 35.90 2004/05 (Est.) : 282.80 317.90 41.42 249.19 43.58 2005/06 (Proj.) : June : 287.76 332.04 45.30 257.21 50.13 July : 289.52 332.43 45.62 256.38 50.85 Oilmeals : 2003/04 : 154.40 157.85 53.36 157.38 4.52 2004/05 (Est.) : 163.68 166.72 51.76 167.83 4.41 2005/06 (Proj.) : June : 170.72 173.84 54.16 174.14 4.66 July : 170.27 173.20 53.47 174.26 4.47 Vegetable Oils : 2003/04 : 91.81 95.90 37.59 88.45 6.19 2004/05 (Est.) : 98.22 102.68 39.40 95.75 6.32 2005/06 (Proj.) : June : 101.77 106.35 41.62 99.97 5.98 July : 101.30 105.93 41.28 100.02 6.01 =============================================================================== 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-424-9 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :============================== : : Est. : June July =============================================================================== Area : Million acres Planted : 62.1 59.7 58.6 * 58.1 Harvested : 53.1 50.0 51.2 * 50.4 Yield per harvested : Bushels acre : 44.2 43.2 41.8 * 43.8 : Million bushels Beginning stocks : 491 546 527 540 Production : 2,345 2,158 2,140 2,208 Imports : 63 71 70 70 Supply, total : 2,899 2,776 2,737 2,818 Food : 907 895 890 890 Seed : 80 79 78 78 Feed and residual : 207 202 200 200 Domestic, total : 1,193 1,176 1,168 1,168 Exports : 1,159 1,060 950 950 Use, total : 2,353 2,236 2,118 2,118 Ending stocks : 546 540 619 700 CCC inventory : 61 54 Free stocks : 485 486 Outstanding loans : 37 58 Avg. farm price ($/bu) 2/ : 3.40 3.40 2.65- 3.15 2.60- 3.10 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 2004/05 (estimated) : Million bushels Beginning stocks : 227 157 64 72 26 546 Production : 856 525 380 306 90 2,158 Supply, total 3/ : 1,084 691 465 389 145 2,776 Domestic use : 499 222 256 120 78 1,176 Exports : 392 310 121 207 30 1,060 Use, total : 891 532 377 327 108 2,236 Ending stocks, total : 193 159 88 63 37 540 : 2005/06 (projected) : Beginning stocks : 193 159 88 63 37 540 Production : 924 552 315 323 94 2,208 Supply, total 3/ : 1,118 720 423 397 160 2,818 Domestic use : 499 245 243 107 74 1,168 Exports : 365 270 90 190 35 950 Use, total : 864 515 333 297 109 2,118 Ending stocks, total : 254 205 90 100 51 700 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning June 1. 2/ Marketing-year weighted average price received by farmers. 3/ Includes imports. * For June, winter wheat harvested acreage and yield reported in June Crop Production. Harvested acres and yield for spring wheat (including durum) projected using 10-year average harvested-to-planted ratios and projected yield derived from 1985-2004 trend yield. For July: Area planted, area harvested, yield and production as reported in July Crop Production report. WASDE-424-10 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :============================== : : Est. : June July =============================================================================== FEED GRAINS : Area : Million acres Planted : 98.0 97.0 97.1 * 96.9 * Harvested : 85.7 86.0 86.2 * 85.8 * Yield per harvested : Metric tons acre : 3.21 3.71 3.44 3.39 : Million metric tons Beginning stocks : 30.9 28.7 61.6 58.6 Production : 274.9 319.2 296.1 291.3 Imports : 2.4 2.0 2.0 2.0 Supply, total : 308.2 350.0 359.8 351.9 Feed and residual : 156.0 166.0 157.2 157.3 Food, seed & industrial : 69.7 73.8 78.4 78.4 Domestic, total : 225.7 239.8 235.6 235.7 Exports : 53.7 51.7 54.5 54.5 Use, total : 279.4 291.5 290.1 290.2 Ending stocks, total : 28.7 58.6 69.7 61.7 CCC inventory : 0.0 0.0 Free stocks : 28.7 58.5 Outstanding loans : 4.4 7.1 : CORN : Area : Million acres Planted : 78.6 80.9 81.4 * 81.6 * Harvested : 70.9 73.6 74.2 * 74.4 * Yield per harvested : Bushels acre : 142.2 160.4 148.0 * 145.0 * : Million bushels Beginning stocks : 1,087 958 2,215 2,115 Production : 10,089 11,807 10,985 10,785 Imports : 14 10 10 10 Supply, total : 11,190 12,775 13,210 12,910 Feed and residual : 5,798 6,150 5,850 5,850 Food, seed & industrial : 2,537 2,685 2,870 2,870 Ethanol for fuel 2/ : 1,168 1,325 1,500 1,500 Domestic, total : 8,335 8,835 8,720 8,720 Exports : 1,897 1,825 1,950 1,950 Use, total : 10,232 10,660 10,670 10,670 Ending stocks, total : 958 2,115 2,540 2,240 CCC inventory : 0 1 Free stocks : 958 2,114 Outstanding loans : 164 275 Avg. farm price ($/bu) 3/ : 2.42 2.00- 2.10 1.55- 1.95 1.70- 2.10 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a further breakout of FSI corn uses including ethanol, see the Feed Outlook table 5 or access the data on the Web through the Feed Grain Data Delivery System (http://www.ers.usda.gov/db/feedgrains/). 3/ Marketing-year weighted average price received by farmers. * For June, planted acres estimate reported in March 31, 2005, Prospective Plantings. Harvested acres for corn projected based on the relationship between planted and harvested for 1999-2004 omitting 2002. Projected yield derived from a linear trend fit over 1960-2004 (1988 omitted), adjusted for 2005 planting progress. For July: Area planted and harvested of corn as reported in June Acreage report. Projected yield derived from a linear trend fit over 1960-2004 (1988 omitted), adjusted for crop conditions. WASDE-424-11 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :============================== : : Est. : June July =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 9.4 7.5 7.4 * 7.0 * Area harv. (mil. acres) : 7.8 6.5 6.4 * 6.0 * Yield (bushels/acre) : 52.7 69.8 63.7 * 66.3 * Beginning stocks : 43 34 66 46 Production : 411 455 405 400 Imports : 0 0 0 0 Supply, total : 454 488 471 446 Feed and residual : 180 200 170 170 Food, seed & industrial : 40 52 53 53 Total domestic : 220 252 223 223 Exports : 201 190 180 180 Use, total : 421 442 403 403 Ending stocks, total : 34 46 68 43 Avg. farm price ($/bu) 2/ : 2.39 1.65- 1.75 1.35- 1.75 1.50- 1.90 : BARLEY : Area planted (mil. acres) : 5.3 4.5 4.0 * 4.0 * Area harv. (mil. acres) : 4.7 4.0 3.5 * 3.5 * Yield (bushels/acre) : 58.9 69.4 63.6 * 70.0 * Beginning stocks : 69 120 131 129 Production : 278 279 225 243 Imports : 21 12 15 15 Supply, total : 368 412 371 387 Feed and residual : 84 116 100 105 Food, seed & industrial : 145 145 140 140 Total domestic : 229 261 240 245 Exports : 19 22 15 15 Use, total : 248 283 255 260 Ending stocks, total : 120 129 116 127 Avg. farm price ($/bu) 2/ : 2.83 2.48 1.95- 2.35 2.10- 2.50 : OATS : Area planted (mil. acres) : 4.6 4.1 4.3 * 4.3 * Area harv. (mil. acres) : 2.2 1.8 2.0 * 2.0 * Yield (bushels/acre) : 65.0 64.7 63.5 * 66.5 * Beginning stocks : 50 65 57 58 Production : 144 116 130 131 Imports : 90 88 85 85 Supply, total : 285 269 272 274 Feed and residual : 144 134 130 130 Food, seed & industrial : 73 74 74 74 Total domestic : 217 208 204 204 Exports : 2 3 3 3 Use, total : 220 211 207 207 Ending stocks, total : 65 58 65 67 Avg. farm price ($/bu) 2/ : 1.48 1.48 1.00- 1.40 1.20- 1.60 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for sorghum, June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. * For June-- planted acres reported in March 31, 2005 Prospective Plantings. Harvested Area-- For Sorghum harvested acres is the five year average harvested-to-planted ratio, 1999-2004 (excluding 2002). For barley and oats harvested acres is the five year average harvested-to-planted ratio, 1999-2004 (excluding 2002). Yield-- For sorghum 10 year average yield (1995-2004, excluding 2002). For barley and oats projected yield derived from 1960-2004 trend yield with oat yield adjusted for rounding. For July-- Sorghum: Area planted and area harvested as reported in the June Acreage report. Yield-- For sorghum is based on yield models for major producing States adjusted for crop conditions. Barley and oats: Area, yield and production as reported in July Crop Production. WASDE-424-12 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :============================== : : Est. : June July =============================================================================== TOTAL : Area : Million acres Planted : 3.02 3.35 3.36 * 3.31 * Harvested : 3.00 3.33 3.33 * 3.29 * Yield per harvested : Pounds acre : 6,670 6,942 6,751 * 6,721 * : : Million hundredweight : Beginning stocks 2/ : 26.8 23.7 39.4 35.9 Production : 199.9 230.8 225.0 221.0 Imports : 15.6 13.5 14.5 14.0 Supply, total : 242.2 268.0 278.9 270.9 Domestic & residual 3/ : 114.9 123.1 126.2 126.2 Exports, total 4/ : 103.7 109.0 121.0 119.0 Rough : 34.4 34.0 33.0 35.0 Milled (rough equiv.) : 69.3 75.0 88.0 84.0 Use, total : 218.6 232.1 247.2 245.2 Ending stocks : 23.7 35.9 31.7 25.7 Avg. milling yield (%) 5/ : 70.8 70.8 70.0 70.0 Avg. farm price ($/cwt) 6/ : 8.08 7.25- 7.35 7.20- 7.50 7.30- 7.60 : LONG GRAIN : Harvested acres (mil.) : 2.31 2.57 Yield (pounds/acre) : 6,451 6,569 Beginning stocks : 15.7 10.3 25.0 22.3 Production : 149.0 168.9 172.0 169.5 Supply, total 7/ : 174.5 190.0 208.5 203.0 Domestic & Residual 3/ : 83.4 86.2 91.0 91.0 Exports 8/ : 80.7 81.5 93.0 93.0 Use, total : 164.2 167.7 184.0 184.0 Ending stocks : 10.3 22.3 24.5 19.0 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.69 0.75 Yield (pounds/acre) : 7,407 8,212 Beginning stocks : 9.3 12.4 13.3 12.6 Production : 50.9 61.9 53.0 51.5 Supply, total 7/ : 66.8 77.0 69.3 66.8 Domestic & Residual 3/ : 31.4 37.0 35.2 35.2 Exports 8/ : 23.0 27.5 28.0 26.0 Use, total : 54.4 64.5 63.2 61.2 Ending stocks : 12.4 12.6 6.1 5.6 =============================================================================== 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): 2003/04-1.8; 2004/05-1.0; 2005/06-1.0. 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/ 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. * For June: Planted acres reported in March 31, 2005 "Prospective Plantings". Harvested acres are estimated using average harvested-to-planted ratios by class of rice, 2000-2004. Projected yield derived from a linear trend fit over 1990-2004. For July: Area planted and harvested as reported in June "Acreage" report. Projected yield derived from State-level average yields by class (2002-2004) weighted by area. WASDE-424-13 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :=============================== : : Est. : June July =============================================================================== SOYBEANS: : Million acres Area : Planted : 73.4 75.2 73.9 * 73.3 ** Harvested : 72.5 74.0 72.6 * 72.4 ** : : Bushels Yield per harvested : acre : 33.9 42.5 39.9 * 39.9 ** : : Million bushels : Beginning stocks : 178 112 320 290 Production : 2,454 3,141 2,895 2,890 Imports : 6 5 3 3 Supply, total : 2,638 3,258 3,218 3,183 Crushings : 1,530 1,690 1,680 1,690 Exports : 880 1,110 1,135 1,135 Seed : 92 90 91 90 Residual : 24 79 _3/ 58 58 Use, total : 2,525 2,969 2,964 2,973 Ending stocks : 112 290 255 210 Avg. farm price ($/bu) 2/ : 7.34 5.80 4.95- 5.95 5.10 - 6.10 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,491 1,076 1,526 1,696 Production : 17,080 19,215 18,950 19,065 Imports : 306 105 110 110 Supply, total : 18,877 20,396 20,586 20,871 Domestic : 16,866 17,300 17,650 17,650 Exports : 935 1,400 1,400 1,550 Use, total : 17,801 18,700 19,050 19,200 Ending stocks : 1,076 1,696 1,536 1,671 Average price (c/lb) 2/ : 29.97 23.25 20.50- 21.00- : 23.50 24.00 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 220 211 250 250 Production : 36,324 40,274 40,035 40,235 Imports : 270 165 165 165 Supply, total : 36,815 40,650 40,450 40,650 Domestic : 31,515 33,200 34,400 33,650 Exports : 5,089 7,200 5,800 6,750 Use, total : 36,604 40,400 40,200 40,400 Ending stocks : 211 250 250 250 Average price ($/s.t.) 2/ : 256.05 185.00 160.00- 165.00- : 190.00 195.00 =============================================================================== 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. 3/ Supply estimates and reported use through May, coupled with USDA's June 1 stocks estimate, indicate an above-average residual. *Planted acres reported in March 31 Prospective Plantings. Harvested acres based on 5-year average planted-to-harvested ratios by state. Projected yield based on 1978-2004 regional trend analysis. **Planted and harvested acres from the June 30 Acreage report. Projected yield based on 1978-2004 regional trend. WASDE-424-14 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :====================== : : : June July ====================================================================== : 1,000 short tons, raw value : Beginning stocks : 1,670 1,897 1,343 1,476 Production 2/ : 8,649 8,110 8,140 8,152 Beet sugar : 4,692 4,721 4,370 4,443 Cane sugar : 3,957 3,389 3,770 3,709 Florida : 2,154 1,690 1,950 1,899 Hawaii : 251 268 250 254 Louisiana : 1,377 1,271 1,400 1,376 Texas : 175 160 170 180 Imports : 1,754 1,729 1,591 1,591 TRQ 3/ : 1,230 1,209 1,206 1,206 Other program 4/ : 464 400 325 325 Other 5/ : 60 120 60 60 Supply, total : 12,073 11,736 11,074 11,219 : Exports : 288 240 200 200 Deliveries : 9,862 10,020 10,115 10,115 Food : 9,678 9,875 9,950 9,950 Other 6/ : 184 145 165 165 Miscellaneous 7/ : 26 0 0 0 Use, total : 10,176 10,260 10,315 10,315 Ending stocks : 1,897 1,476 759 904 Stocks to use ratio : 18.6 14.4 7.4 8.8 ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. Historical data are from FSA, "Sweetener Market Data" except imports (U.S. Customs Service, Census Bureau). 2/ Production projections for 2005/06 are based on March 31 Prospective Plantings and trend yields. 3/ Actual arrivals under the tariff rate quota (TRQ) with late entries, early entries, and TRQ overfills assigned to the fiscal year in which they actually arrived. For 2005/06, includes only the U.S. commitment to the World Trade Organization to import a minimum quantity of raw and refined sugar, minus shortfall of 50,000 tons. The Secretary will establish the actual level of the TRQ at a later date. 4/ Includes sugar under the re-export and polyhydric alcohol programs. 5/ Includes high-tier and other. 6/ Transfers to sugar-containing products for reexport, and for nonedible alcohol and feed. 7/ Residual statistical discrepancies. METRIC CONVERSION FACTORS 1 Hectare = 2.4710 Acres 1 Kilogram = 2.20462 Pounds --------------------------------------------------------------------- Metric-Ton Equivalent : = Domestic Unit * Factor --------------------------------------------------------------------- Wheat & Soybeans : = bushels * .027216 Rice : = cwt * .045359 Corn, Sorghum & Rye : = bushels * .025401 Barley : = bushels * .021772 Oats : = bushels * .014515 Sugar : = short tons * .907185 Cotton : = 480-lb bales * .217720 --------------------------------------------------------------------- WASDE-424-15 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :=============================== : : Est. : June July =============================================================================== : Million acres Area : Planted : 13.48 13.66 13.82 * 14.03 * Harvested : 12.00 13.06 12.57 * 12.75 * : : Pounds Yield per harvested : acre : 730 855 745 * 745 * : : Million 480 pound bales : Beginning stocks 2/ : 5.39 3.51 7.50 7.20 Production : 18.26 23.25 19.50 19.80 Imports : 0.05 0.03 0.04 0.04 Supply, total : 23.69 26.79 27.04 27.04 Domestic use : 6.22 6.25 5.80 5.80 Exports : 13.76 13.30 15.00 14.50 Use, total : 19.98 19.55 20.80 20.30 Unaccounted 3/ : 0.20 0.04 0.04 0.04 Ending stocks : 3.51 7.20 6.20 6.70 : Avg. farm price 4/ : 61.8 42.8 5/ 5/ =============================================================================== Note: Totals may not add due to rounding. 1/ Upland and extra-long staple; marketing year beginning August 1. Totals may not add due to rounding. 2/ Based on Bureau of Census data. 3/ Reflects the difference between the previous season's supply less total use and ending stocks based on Bureau of Census data. 4/ Cents per pound. The 2004/05 price is a weighted average price for upland cotton for August-May. 5/ USDA is prohibited by law from publishing cotton price projections. * For June, planted area reported in March 31 "Prospective Plantings." For July, planted area reported in June 30 "Acreage." For both June and July, projected harvested area based on 2002-2004 U.S. average acreage abandonment. Projected yields for both June and July based on 2002-2004 U.S. average yield per harvested acre. Note: Public Law 106-78, signed October 22, 1999, requires the Secretary of Agriculture to estimate and report the U.S. upland cotton season-ending stocks-to-use ratio, excluding projected raw cotton imports but including the quantity of raw cotton imports that has been imported during the marketing year. Pursuant to this requirement, the estimated ratio for 2004/05 is 38.4 percent. WASDE-424-16 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2003/04 : World 3/ : 165.78 553.92 102.17 96.87 588.74 109.41 130.97 United States : 13.37 63.81 1.72 5.64 32.48 31.56 14.87 Total foreign : 152.41 490.11 100.45 91.24 556.26 77.86 116.09 Major exporters 4/ : 27.04 170.69 6.22 57.55 126.73 54.16 23.06 Argentina : 1.53 14.00 0.00 0.08 5.23 9.41 0.90 Australia : 3.14 26.23 0.07 3.23 5.96 18.03 5.46 Canada : 5.73 23.55 0.23 3.44 7.64 15.79 6.08 EU-25 5/ : 16.64 106.90 5.91 50.80 107.90 10.93 10.63 Major importers 6/ : 78.87 149.06 51.89 9.97 210.64 6.80 62.38 Brazil : 0.66 5.85 5.18 0.20 9.80 1.38 0.51 China : 60.38 86.49 3.75 6.00 104.50 2.82 43.29 Select. Mideast 7/ : 6.85 17.99 7.95 1.30 26.22 1.00 5.56 N. Africa 8/ : 5.96 16.29 15.48 0.30 30.08 0.17 7.47 Pakistan : 1.44 19.19 0.05 0.40 18.90 0.19 1.58 Southeast Asia 9/ : 1.57 0.00 10.09 1.32 9.20 0.32 2.15 Selected other : India : 15.70 65.10 0.01 0.60 68.26 5.65 6.90 FSU-12 : 16.48 60.91 7.26 17.58 65.87 7.79 10.99 Russia : 6.13 34.10 1.03 12.50 35.50 3.11 2.65 Kazakhstan : 3.67 11.00 0.01 2.70 6.80 4.11 3.78 Ukraine : 3.25 3.60 3.37 0.43 9.03 0.07 1.13 : : 2004/05 (Estimated) : World 3/ : 130.97 624.51 106.67 106.33 606.74 107.28 148.73 United States : 14.87 58.74 1.93 5.49 32.00 28.85 14.69 Total foreign : 116.09 565.77 104.74 100.84 574.74 78.43 134.04 Major exporters 4/ : 23.06 200.03 7.04 64.38 135.00 54.30 40.83 Argentina : 0.90 16.00 0.01 0.08 5.30 10.50 1.11 Australia : 5.46 21.50 0.08 3.30 6.00 15.30 5.73 Canada : 6.08 25.86 0.25 5.00 9.20 15.00 7.99 EU-25 5/ : 10.63 136.67 6.70 56.00 114.50 13.50 26.00 Major importers 6/ : 62.38 153.89 58.95 8.19 212.16 3.15 59.91 Brazil : 0.51 5.85 5.00 0.30 10.10 0.05 1.20 China : 43.29 91.00 7.00 4.00 102.00 1.10 38.19 Select. Mideast 7/ : 5.56 18.16 9.30 1.90 27.64 0.60 4.79 N. Africa 8/ : 7.47 16.62 17.30 0.30 32.13 0.21 9.05 Pakistan : 1.58 19.00 1.50 0.40 19.50 0.05 2.53 Southeast Asia 9/ : 2.15 0.00 9.45 0.86 9.10 0.29 2.21 Selected other : India : 6.90 72.06 0.02 0.50 72.88 2.00 4.10 FSU-12 : 10.99 86.43 4.29 21.21 73.16 14.09 14.47 Russia : 2.65 45.30 1.20 14.00 38.00 7.00 4.15 Kazakhstan : 3.78 9.95 0.02 2.70 7.40 2.70 3.64 Ukraine : 1.13 17.50 0.05 2.20 11.80 4.20 2.68 =============================================================================== 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-424-17 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: =============================================================================== : : 2005/06 (Projected) World 3/ : June : 149.48 612.42 103.94 112.34 617.65 107.37 144.25 July : 148.73 612.56 105.69 112.24 617.94 109.13 143.34 United States : June : 14.34 58.24 1.91 5.44 31.79 25.86 16.85 July : 14.69 60.10 1.91 5.44 31.79 25.86 19.05 Total foreign : June : 135.14 554.18 102.03 106.90 585.86 81.52 127.41 July : 134.04 552.46 103.78 106.80 586.15 83.28 124.29 Major exporters 4/ : June : 40.83 186.75 6.34 67.78 138.90 57.00 38.02 July : 40.83 188.30 6.34 67.78 138.90 57.50 39.07 Argentina Jun : 1.11 15.00 0.01 0.08 5.30 10.00 0.82 Jul : 1.11 15.00 0.01 0.08 5.30 10.00 0.82 Australia Jun : 5.73 21.50 0.08 3.40 6.10 15.50 5.71 Jul : 5.73 21.50 0.08 3.40 6.10 15.50 5.71 Canada Jun : 7.99 23.50 0.25 4.30 8.50 15.50 7.74 Jul : 7.99 24.00 0.25 4.30 8.50 16.00 7.74 EU-25 5/ Jun : 26.00 126.75 6.00 60.00 119.00 16.00 23.75 Jul : 26.00 127.80 6.00 60.00 119.00 16.00 24.80 Major importers 6/ : June : 60.11 154.67 56.75 8.10 213.14 3.14 55.24 July : 59.91 153.36 57.05 7.70 212.64 3.55 54.13 Brazil Jun : 1.20 4.80 5.20 0.20 10.20 0.05 0.95 Jul : 1.20 4.80 5.20 0.20 10.20 0.05 0.95 China Jun : 38.29 93.00 4.00 3.50 101.00 1.00 33.29 Jul : 38.19 93.00 4.00 3.50 101.00 1.00 33.19 Sel. Mideast 7/Jun : 5.09 18.33 10.30 2.00 27.39 0.60 5.73 Jul : 4.79 18.33 10.30 1.90 27.39 1.00 5.03 N. Africa 8/ Jun : 8.85 13.48 17.70 0.30 32.83 0.21 6.99 Jul : 9.05 12.38 18.30 0.30 32.83 0.21 6.69 Pakistan Jun : 2.53 21.00 0.50 0.40 20.00 0.05 3.98 Jul : 2.53 21.00 0.50 0.40 20.00 0.05 3.98 SE Asia 9/ Jun : 2.21 0.00 9.75 1.18 9.65 0.28 2.03 Jul : 2.21 0.00 9.45 0.88 9.35 0.29 2.02 Selected other : India Jun : 4.10 73.50 0.02 0.50 73.02 0.50 4.10 Jul : 4.10 72.00 1.00 0.50 73.00 0.50 3.60 FSU-12 Jun : 15.33 88.67 3.99 23.81 76.23 16.26 15.50 Jul : 14.47 89.68 4.14 24.21 76.82 17.19 14.28 Russia Jun : 4.85 47.00 1.20 16.00 40.00 8.00 5.05 Jul : 4.15 47.00 1.20 16.00 40.00 8.00 4.35 Kazakhstan Jun : 3.64 11.50 0.02 2.70 7.40 4.00 3.76 Jul : 3.64 11.50 0.02 2.70 7.40 4.00 3.76 Ukraine Jun : 2.83 16.70 0.20 3.00 13.00 4.00 2.73 Jul : 2.68 18.00 0.05 3.30 13.30 5.00 2.43 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and the EU-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-424-18 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: =============================================================================== : : 2003/04 : World 3/ : 167.28 914.08 101.33 615.00 945.39 103.77 135.97 United States : 30.94 275.10 2.45 156.08 226.01 53.72 28.76 Total foreign : 136.34 638.98 98.88 458.92 719.38 50.05 107.21 Major exporters 4/ : 7.87 70.09 2.48 33.92 47.08 22.91 10.45 Argentina : 1.04 18.60 0.05 4.95 7.31 11.31 1.07 Australia : 1.20 14.81 0.00 5.47 6.70 7.22 2.09 Canada : 3.14 26.33 2.09 19.22 23.82 3.64 4.09 Major importers 5/ : 37.94 195.31 79.36 205.72 274.82 5.50 32.30 EU-25 6/ : 21.50 122.91 8.13 101.94 135.47 4.39 12.68 Japan : 2.40 0.20 19.98 15.61 20.44 0.00 2.15 Mexico : 3.89 30.10 8.85 21.15 37.23 0.01 5.59 N. Afr & Mideast 7/: 3.77 26.03 15.97 34.20 40.73 0.35 4.69 Saudi Arabia : 2.65 0.20 8.42 8.65 8.84 0.00 2.43 Southeast Asia 8/ : 1.04 15.50 3.92 12.73 18.04 0.75 1.67 South Korea : 1.29 0.30 8.99 6.78 9.14 0.00 1.43 Selected other : China : 66.37 124.64 1.53 99.46 139.20 7.72 45.61 Other Europe : 3.11 18.84 1.39 17.26 20.86 0.36 2.12 FSU-12 : 11.98 55.37 1.46 39.23 56.57 6.09 6.16 Russia : 7.20 30.50 0.95 21.53 33.25 2.47 2.93 Ukraine : 2.65 15.60 0.14 10.50 13.80 2.77 1.82 : : 2004/05 (Estimated) : World 3/ : 135.97 1007.12 97.86 636.65 972.27 99.80 170.82 United States : 28.76 319.45 2.19 166.12 240.12 51.71 58.58 Total foreign : 107.21 687.66 95.68 470.53 732.16 48.09 112.24 Major exporters 4/ : 10.45 73.84 2.84 35.66 49.46 24.51 13.15 Argentina : 1.07 23.90 0.01 6.45 9.06 14.51 1.42 Australia : 2.09 10.96 0.00 5.11 6.34 5.17 1.54 Canada : 4.09 26.44 2.50 19.57 24.42 2.80 5.81 Major importers 5/ : 32.30 223.13 74.26 211.32 281.84 5.00 42.84 EU-25 6/ : 12.68 150.58 3.11 106.16 139.54 4.31 22.52 Japan : 2.15 0.20 19.94 15.41 20.24 0.00 2.05 Mexico : 5.59 29.08 9.55 22.78 38.95 0.01 5.26 N. Afr & Mideast 7/: 4.69 26.78 18.65 36.40 43.85 0.11 6.15 Saudi Arabia : 2.43 0.20 6.70 6.43 6.61 0.00 2.72 Southeast Asia 8/ : 1.67 15.87 3.02 12.75 18.56 0.58 1.43 South Korea : 1.43 0.34 8.46 6.79 9.22 0.00 1.01 Selected other : China : 45.61 137.05 1.91 100.60 142.35 6.03 36.19 Other Europe : 2.12 28.87 0.80 19.35 24.68 2.24 4.87 FSU-12 : 6.16 62.86 1.32 38.02 54.50 7.64 8.20 Russia : 2.93 29.55 0.90 19.00 29.35 1.00 3.03 Ukraine : 1.82 23.00 0.07 11.35 15.20 6.51 3.19 =============================================================================== 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-424-19 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: =============================================================================== : : 2005/06 (Projected) World 3/ : June : 173.81 950.84 96.17 626.82 964.62 97.75 160.04 July : 170.82 943.84 96.35 625.03 963.20 98.20 151.45 United States : June : 61.65 296.32 2.15 157.30 235.91 54.48 69.74 July : 58.58 291.52 2.15 157.41 236.01 54.48 61.76 Total foreign : June : 112.16 654.52 94.03 469.53 728.71 43.27 90.30 July : 112.24 652.32 94.21 467.62 727.19 43.72 89.70 Major exporters 4/ : June : 13.11 69.07 2.13 35.45 49.40 23.56 11.36 July : 13.15 67.73 2.33 35.35 49.45 23.41 10.36 Argentina Jun : 1.42 22.65 0.00 6.66 9.27 13.51 1.28 Jul : 1.42 22.65 0.00 6.66 9.27 13.51 1.28 Australia Jun : 1.54 10.06 0.00 4.74 5.99 4.47 1.13 Jul : 1.54 10.06 0.00 4.74 5.99 4.47 1.13 Canada Jun : 5.78 26.37 1.86 19.61 24.54 3.75 5.72 Jul : 5.81 25.03 2.06 19.51 24.59 3.60 4.71 Major importers 5/ : June : 42.75 204.05 73.72 209.27 279.65 5.50 35.37 July : 42.84 203.22 74.10 209.62 279.86 5.50 34.80 EU-25 6/ Jun : 22.82 132.98 3.14 102.15 135.59 5.16 18.19 Jul : 22.52 132.79 3.14 102.35 135.79 5.16 17.50 Japan Jun : 2.05 0.19 19.84 15.36 20.19 0.00 1.89 Jul : 2.05 0.19 19.84 15.36 20.19 0.00 1.89 Mexico Jun : 5.36 28.83 9.55 22.78 39.20 0.01 4.53 Jul : 5.26 28.83 9.85 22.98 39.40 0.01 4.53 N Afr/M.East 7/Jun : 5.75 25.17 16.34 36.08 42.94 0.01 4.31 Jul : 6.15 24.52 16.92 36.23 43.04 0.01 4.54 Saudi Arabia Jun : 2.72 0.20 7.60 7.63 7.81 0.00 2.71 Jul : 2.72 0.20 7.40 7.43 7.61 0.00 2.71 S.-east Asia 8/Jun : 1.43 16.27 3.51 13.78 19.64 0.33 1.24 Jul : 1.43 16.27 3.51 13.78 19.64 0.33 1.24 South Korea Jun : 0.91 0.35 9.01 7.04 9.47 0.00 0.79 Jul : 1.01 0.35 8.71 6.94 9.37 0.00 0.69 Selected other : China Jun : 36.14 135.70 2.01 101.90 144.50 3.10 26.25 Jul : 36.19 135.70 2.01 101.90 144.50 3.10 26.30 Other Europe Jun : 4.76 24.68 0.85 19.41 24.54 2.35 3.40 Jul : 4.87 24.28 0.85 19.16 24.44 2.10 3.46 FSU-12 Jun : 8.20 53.24 1.30 34.72 51.37 5.67 5.70 Jul : 8.20 53.64 1.10 34.02 50.67 6.47 5.80 Russia Jun : 3.03 27.60 0.85 17.60 28.20 0.81 2.48 Jul : 3.03 27.80 0.65 17.60 28.20 0.81 2.48 Ukraine Jun : 3.19 16.70 0.09 9.65 13.30 4.68 2.00 Jul : 3.19 16.50 0.09 8.95 12.60 5.18 2.00 =============================================================================== 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-424-20 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2003/04 : World 3/ : 123.60 623.71 76.66 444.66 647.18 77.20 100.12 United States : 27.60 256.28 0.36 147.27 211.72 48.18 24.34 Total foreign : 95.99 367.43 76.30 297.38 435.46 29.02 75.79 Major exporters 4/ : 2.97 24.70 0.25 6.88 13.08 11.67 3.18 Argentina : 0.53 15.00 0.04 2.80 4.40 10.94 0.22 South Africa : 2.44 9.70 0.22 4.08 8.68 0.73 2.96 Major importers 5/ : 13.44 82.89 49.61 91.37 130.97 1.20 13.78 Egypt : 0.20 5.74 3.74 8.00 9.50 0.00 0.18 EU-25 6/ : 4.83 39.86 5.75 36.01 46.81 0.46 3.17 Japan : 1.46 0.00 16.78 12.40 16.90 0.00 1.34 Mexico : 3.24 21.80 5.71 11.20 26.40 0.01 4.34 Southeast Asia 7/ : 1.04 15.37 3.89 12.60 17.90 0.73 1.66 South Korea : 1.29 0.07 8.78 6.60 8.71 0.00 1.43 Selected other : Brazil : 4.80 42.00 0.35 33.00 38.60 4.44 4.11 Canada : 1.11 9.60 2.04 8.74 11.24 0.37 1.14 China : 64.97 115.83 0.00 97.00 128.40 7.55 44.85 Other Europe : 2.58 15.13 0.91 14.35 16.67 0.34 1.61 FSU-12 : 1.53 11.53 0.64 9.55 11.04 1.31 1.35 Russia : 0.11 2.10 0.50 2.15 2.55 0.00 0.16 : : 2004/05 (Estimated) : World 3/ : 100.12 706.26 74.07 467.63 680.47 75.11 125.91 United States : 24.34 299.92 0.25 156.22 224.42 46.36 53.73 Total foreign : 75.79 406.35 73.82 311.41 456.05 28.76 72.18 Major exporters 4/ : 3.18 31.50 0.16 7.80 14.15 16.00 4.69 Argentina : 0.22 19.50 0.01 3.50 5.20 14.00 0.53 South Africa : 2.96 12.00 0.15 4.30 8.95 2.00 4.16 Major importers 5/ : 13.78 96.93 46.31 99.20 139.71 0.76 16.55 Egypt : 0.18 5.78 5.00 8.80 10.60 0.00 0.36 EU-25 6/ : 3.17 53.35 2.50 41.70 52.50 0.20 6.32 Japan : 1.34 0.00 16.80 12.30 16.80 0.00 1.34 Mexico : 4.34 22.00 6.00 12.60 27.90 0.01 4.43 Southeast Asia 7/ : 1.66 15.67 3.01 12.60 18.40 0.55 1.40 South Korea : 1.43 0.08 8.30 6.70 8.80 0.00 1.01 Selected other : Brazil : 4.11 35.50 1.00 33.50 38.90 0.70 1.01 Canada : 1.14 8.84 2.40 8.30 10.95 0.15 1.28 China : 44.85 128.00 0.10 98.50 131.50 6.00 35.45 Other Europe : 1.61 23.44 0.36 15.89 19.68 1.55 4.19 FSU-12 : 1.35 15.30 0.59 10.94 12.59 2.13 2.52 Russia : 0.16 3.45 0.30 3.00 3.55 0.00 0.36 =============================================================================== 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-424-21 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: =============================================================================== : : 2005/06 (Projected) World 3/ : June : 127.99 673.34 73.26 463.52 680.29 73.93 121.04 July : 125.91 667.51 73.26 462.21 679.10 73.93 114.33 United States : June : 56.27 279.03 0.25 148.60 221.50 49.53 64.53 July : 53.73 273.95 0.25 148.60 221.50 49.53 56.91 Total foreign : June : 71.72 394.31 73.01 314.92 458.79 24.40 56.52 July : 72.18 393.56 73.01 313.62 457.60 24.40 57.42 Major exporters 4/ : June : 4.69 28.00 0.10 8.00 14.40 14.80 3.59 July : 4.69 28.00 0.10 8.00 14.40 14.80 3.59 Argentina Jun : 0.53 18.50 0.00 3.80 5.50 13.00 0.53 Jul : 0.53 18.50 0.00 3.80 5.50 13.00 0.53 South Africa Jun : 4.16 9.50 0.10 4.20 8.90 1.80 3.06 Jul : 4.16 9.50 0.10 4.20 8.90 1.80 3.06 Major importers 5/ : June : 16.06 91.61 46.50 98.90 139.45 0.91 13.81 July : 16.55 91.59 46.80 99.40 139.96 0.91 14.07 Egypt Jun : 0.26 5.95 4.50 8.70 10.40 0.00 0.31 Jul : 0.36 5.95 4.80 8.90 10.70 0.00 0.41 EU-25 6/ Jun : 6.02 47.87 2.50 40.50 51.10 0.60 4.68 Jul : 6.32 47.85 2.50 40.50 51.10 0.60 4.96 Japan Jun : 1.34 0.00 16.70 12.25 16.75 0.00 1.29 Jul : 1.34 0.00 16.70 12.25 16.75 0.00 1.29 Mexico Jun : 4.43 21.60 5.90 12.60 28.10 0.01 3.83 Jul : 4.43 21.60 6.20 12.90 28.40 0.01 3.83 S.-east Asia 7/Jun : 1.40 16.07 3.50 13.60 19.45 0.30 1.21 Jul : 1.40 16.07 3.50 13.60 19.45 0.30 1.21 South Korea Jun : 0.91 0.08 8.80 6.90 9.00 0.00 0.79 Jul : 1.01 0.08 8.50 6.80 8.90 0.00 0.69 Selected other : Brazil Jun : 1.31 44.00 0.60 36.00 41.80 1.60 2.51 Jul : 1.01 44.00 0.60 35.00 40.80 1.60 3.21 Canada Jun : 1.23 8.90 1.80 8.00 10.60 0.20 1.13 Jul : 1.28 8.50 2.00 8.10 10.80 0.15 0.83 China Jun : 35.45 127.00 0.20 100.00 134.00 3.00 25.65 Jul : 35.45 127.00 0.20 100.00 134.00 3.00 25.65 Other Europe Jun : 4.19 19.72 0.46 16.01 19.80 1.70 2.87 Jul : 4.19 19.72 0.46 16.01 19.80 1.70 2.87 FSU-12 Jun : 2.52 10.55 0.61 9.59 11.18 1.13 1.38 Jul : 2.52 10.25 0.41 9.09 10.68 1.13 1.38 Russia Jun : 0.36 2.00 0.40 2.10 2.60 0.00 0.16 Jul : 0.36 2.20 0.20 2.10 2.60 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/ 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-424-22 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 : =============================================================================== : : 2003/04 World 3/ : 110.92 389.49 25.06 413.20 27.36 87.21 United States : 0.83 6.42 0.50 3.65 3.33 0.76 Total foreign : 110.09 383.07 24.57 409.55 24.03 86.45 Major exporters 4/ : 18.41 131.94 0.30 114.27 19.48 16.90 India : 11.00 87.00 0.00 84.10 3.10 10.80 Pakistan : 0.05 4.85 0.00 2.70 1.95 0.24 Thailand : 3.30 18.01 0.00 9.47 10.14 1.71 Vietnam : 4.07 22.08 0.30 18.00 4.30 4.15 Major importers 5/ : 12.34 59.35 9.41 68.14 0.37 12.59 Brazil : 0.59 8.71 0.70 8.69 0.08 1.23 EU-25 6/ : 0.96 1.72 1.02 2.51 0.23 0.97 Indonesia : 4.34 35.02 0.65 36.00 0.00 4.02 Nigeria : 1.35 2.20 1.60 4.00 0.00 1.15 Philippines : 3.81 9.20 1.29 10.25 0.00 4.05 Sel. Mideast 7/ : 0.99 2.21 2.99 5.15 0.06 0.99 Selected other : Burma : 1.23 10.73 0.00 10.20 0.13 1.63 C. Amer & Carib 8/ : 0.15 0.09 0.35 0.47 0.00 0.11 China : 67.22 112.46 1.12 135.00 0.88 44.93 Egypt : 0.72 3.90 0.00 3.30 0.83 0.49 Japan : 2.47 7.09 0.70 8.36 0.20 1.70 Mexico : 0.17 0.20 0.54 0.73 0.00 0.18 South Korea : 1.03 4.45 0.19 4.64 0.21 0.82 : : 2004/05 (Estimated) World 3/ : 87.21 401.21 24.69 413.85 25.10 74.57 United States : 0.76 7.41 0.43 3.95 3.50 1.15 Total foreign : 86.45 393.81 24.26 409.90 21.60 73.42 Major exporters 4/ : 16.90 129.77 0.04 114.73 17.65 14.33 India : 10.80 86.00 0.00 84.00 3.00 9.80 Pakistan : 0.24 4.92 0.00 2.75 2.10 0.31 Thailand : 1.71 17.00 0.00 9.48 8.25 0.98 Vietnam : 4.15 21.85 0.04 18.50 4.30 3.24 Major importers 5/ : 12.59 59.55 9.73 68.82 0.44 12.62 Brazil : 1.23 8.98 0.45 9.00 0.20 1.45 EU-25 6/ : 0.97 1.86 1.00 2.53 0.18 1.13 Indonesia : 4.02 34.25 0.90 35.85 0.00 3.32 Nigeria : 1.15 2.30 1.37 4.25 0.00 0.57 Philippines : 4.05 9.40 1.50 10.40 0.00 4.55 Sel. Mideast 7/ : 0.99 2.27 3.45 5.22 0.06 1.43 Selected other : Burma : 1.63 9.57 0.00 10.30 0.15 0.75 C. Amer & Carib 8/ : 0.11 0.09 0.40 0.49 0.00 0.11 China : 44.93 126.00 0.50 135.10 0.65 35.68 Egypt : 0.49 3.93 0.00 3.33 0.85 0.25 Japan : 1.70 7.94 0.68 8.30 0.20 1.82 Mexico : 0.18 0.20 0.55 0.80 0.00 0.13 South Korea : 0.82 5.00 0.22 4.74 0.00 1.30 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in 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-424-23 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 : =============================================================================== : : 2005/06 (Projected) World 3/ : June : 73.80 410.37 24.00 416.82 24.51 67.35 July : 74.57 409.87 23.66 417.61 24.94 66.83 United States : June : 1.26 7.14 0.46 4.02 3.84 1.01 July : 1.15 7.02 0.45 4.02 3.78 0.82 Total foreign : June : 72.54 403.23 23.54 412.80 20.67 66.34 July : 73.42 402.85 23.22 413.59 21.17 66.01 Major exporters 4/ : June : 13.12 135.10 0.04 116.29 17.00 14.97 July : 14.33 135.10 0.04 116.29 17.50 15.68 India Jun : 9.80 90.00 0.00 85.00 3.00 11.80 Jul : 9.80 90.00 0.00 85.00 3.50 11.30 Pakistan Jun : 0.41 5.00 0.00 2.80 2.00 0.61 Jul : 0.31 5.00 0.00 2.80 2.00 0.51 Thailand Jun : 0.73 17.80 0.00 9.49 8.00 1.04 Jul : 0.98 17.80 0.00 9.49 8.00 1.29 Vietnam Jun : 2.18 22.30 0.04 19.00 4.00 1.52 Jul : 3.24 22.30 0.04 19.00 4.00 2.58 Major importers 5/ : June : 12.75 59.44 9.19 69.22 0.36 11.79 July : 12.62 59.44 9.19 69.22 0.36 11.66 Brazil Jun : 1.45 8.10 0.55 9.21 0.13 0.77 Jul : 1.45 8.10 0.55 9.21 0.13 0.77 EU-25 6/ Jun : 1.13 1.80 0.98 2.55 0.18 1.18 Jul : 1.13 1.80 0.98 2.55 0.18 1.18 Indonesia Jun : 3.70 34.90 0.70 35.60 0.00 3.70 Jul : 3.32 34.90 0.70 35.60 0.00 3.32 Nigeria Jun : 0.57 2.60 1.40 4.35 0.00 0.22 Jul : 0.57 2.60 1.40 4.35 0.00 0.22 Philippines Jun : 4.30 9.30 1.25 10.60 0.00 4.25 Jul : 4.55 9.30 1.25 10.60 0.00 4.50 Sel. Mideast 7/Jun : 1.43 2.27 3.25 5.32 0.06 1.57 Jul : 1.43 2.27 3.25 5.32 0.06 1.57 Selected other : Burma Jun : 0.75 10.73 0.00 10.40 0.15 0.93 Jul : 0.75 10.44 0.00 10.40 0.15 0.64 C. Am & Car. 8/Jun : 0.11 0.09 0.40 0.49 0.00 0.10 Jul : 0.11 0.09 0.40 0.49 0.00 0.10 China Jun : 35.93 127.50 0.90 135.20 0.60 28.53 Jul : 35.68 127.50 0.60 135.20 0.60 27.98 Egypt Jun : 0.25 4.00 0.00 3.35 0.75 0.15 Jul : 0.25 4.00 0.00 3.35 0.75 0.15 Japan Jun : 1.82 8.00 0.70 8.25 0.20 2.07 Jul : 1.82 8.00 0.70 8.25 0.20 2.07 Mexico Jun : 0.13 0.20 0.60 0.83 0.00 0.10 Jul : 0.13 0.20 0.60 0.83 0.00 0.10 South Korea Jun : 1.30 4.90 0.25 4.66 0.00 1.79 Jul : 1.30 4.80 0.25 4.66 0.00 1.69 =============================================================================== 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-424-24 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2003/04 : World : 42.05 95.10 33.95 98.29 33.07 -0.40 40.14 United States : 5.39 18.26 0.05 6.22 13.76 0.20 3.51 Total foreign : 36.66 76.85 33.91 92.07 19.31 -0.59 36.63 Major exporters 4/ : 11.51 30.74 3.18 18.26 14.83 -0.16 12.49 Pakistan : 2.26 7.75 1.85 9.60 0.20 0.03 2.03 Central Asia 5/ : 1.75 6.74 0.01 1.82 4.99 0.00 1.69 Afr. Fr. Zone 6/ : 1.54 4.44 3/ 0.20 4.49 0.00 1.28 S. Hemis. 7/ : 4.85 9.36 0.95 5.02 3.90 -0.20 6.44 Australia : 1.30 1.70 3/ 0.08 2.16 -0.12 0.89 Brazil : 2.88 6.02 0.55 3.95 0.96 -0.10 4.63 Major importers : 22.91 42.66 26.11 67.18 3.05 -0.44 21.89 India : 3.59 13.80 0.80 13.50 0.63 0.00 4.06 Mexico : 1.03 0.36 1.86 2.00 0.12 0.03 1.10 China : 12.85 22.30 8.83 32.00 0.17 -0.60 12.41 EU-25 8/ : 1.52 1.96 3.15 3.90 1.71 0.06 0.96 Russia : 0.22 3/ 1.48 1.50 0.00 0.00 0.20 Turkey : 1.37 4.10 2.37 6.20 0.36 0.00 1.28 Selected Asia 9/ : 2.33 0.14 7.63 8.08 0.06 0.08 1.88 Indonesia : 0.40 0.03 2.15 2.15 0.02 0.05 0.37 Thailand : 0.56 0.06 1.68 1.85 0.00 0.03 0.42 : : 2004/05 (Estimated) : World : 40.14 119.83 32.37 108.12 33.78 -0.69 51.13 United States : 3.51 23.25 0.03 6.25 13.30 0.04 7.20 Total foreign : 36.63 96.58 32.34 101.87 20.48 -0.73 43.93 Major exporters 4/ : 12.49 37.81 1.85 19.42 16.19 -0.16 16.70 Pakistan : 2.03 11.30 1.00 10.50 0.50 0.03 3.31 Central Asia 5/ : 1.69 8.08 3/ 1.74 5.86 0.00 2.17 Afr. Fr. Zone 6/ : 1.28 4.80 3/ 0.20 3.96 0.00 1.92 S. Hemis. 7/ : 6.44 10.21 0.45 5.27 4.20 -0.20 7.83 Australia : 0.89 2.80 3/ 0.07 1.90 -0.12 1.86 Brazil : 4.63 6.00 0.20 4.20 1.65 -0.10 5.08 Major importers : 21.89 54.82 25.93 75.80 2.86 -0.59 24.57 India : 4.06 18.60 0.75 15.00 0.80 0.00 7.61 Mexico : 1.10 0.63 1.90 2.10 0.18 0.03 1.33 China : 12.41 29.00 6.00 38.00 0.03 -0.75 10.13 EU-25 8/ : 0.96 2.30 3.21 3.60 1.65 0.06 1.15 Russia : 0.20 3/ 1.45 1.43 0.00 0.00 0.22 Turkey : 1.28 4.15 3.60 7.10 0.15 0.00 1.78 Selected Asia 9/ : 1.88 0.15 9.03 8.58 0.06 0.08 2.34 Indonesia : 0.37 0.03 2.40 2.25 0.02 0.05 0.48 Thailand : 0.42 0.06 2.10 2.00 0.01 0.03 0.55 =============================================================================== 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/ Includes intra-EU trade. 9/ Hong Kong, Indonesia, Japan, South Korea, Taiwan, Thailand, and Vietnam. WASDE-424-25 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2005/06 (Projected) World : June : 48.74 106.19 39.24 111.53 38.89 -0.30 44.05 July : 51.13 108.60 38.39 111.76 38.11 -0.70 48.95 United States : June : 7.50 19.50 0.04 5.80 15.00 0.04 6.20 July : 7.20 19.80 0.04 5.80 14.50 0.04 6.70 Total foreign : June : 41.24 86.69 39.20 105.73 23.89 -0.34 37.85 July : 43.93 88.80 38.35 105.96 23.61 -0.74 42.25 Major exporters 4/ : June : 17.18 35.07 2.17 19.88 18.98 -0.16 15.71 July : 16.70 35.43 2.12 19.91 18.52 -0.16 15.97 Pakistan Jun : 3.31 9.50 1.15 10.80 0.65 0.03 2.48 Jul : 3.31 9.75 1.15 11.00 0.60 0.03 2.58 Central Asia 5/Jun : 2.52 7.44 3/ 1.86 6.08 0.00 2.03 Jul : 2.17 7.65 3/ 1.76 6.07 0.00 2.00 Afr. Fr. Zn. 6/Jun : 1.92 4.28 3/ 0.19 4.61 0.00 1.41 Jul : 1.92 4.38 3/ 0.19 4.53 0.00 1.58 S. Hemis 7/ Jun : 7.94 10.85 0.47 5.30 5.75 -0.20 8.41 Jul : 7.83 10.65 0.42 5.17 5.50 -0.20 8.42 Australia Jun : 1.66 2.60 3/ 0.06 2.80 -0.12 1.52 Jul : 1.86 2.60 3/ 0.06 2.80 -0.12 1.72 Brazil Jun : 5.33 6.70 0.20 4.20 2.20 -0.10 5.93 Jul : 5.08 6.50 0.20 4.10 2.00 -0.10 5.78 Major importers Jun : 21.39 47.90 32.68 79.16 3.18 -0.19 19.82 Jul : 24.57 49.65 31.90 79.38 3.38 -0.59 23.94 India Jun : 7.11 15.50 0.60 15.80 0.80 0.00 6.61 Jul : 7.61 16.75 0.80 16.00 1.10 0.00 8.06 Mexico Jun : 1.33 0.90 1.20 2.00 0.23 0.03 1.18 Jul : 1.33 0.90 1.20 2.00 0.20 0.03 1.20 China Jun : 7.43 25.50 15.00 41.00 0.03 -0.35 7.26 Jul : 10.13 26.00 14.00 41.00 0.03 -0.75 9.86 EU-25 8/ Jun : 1.17 2.15 2.85 3.26 1.93 0.06 0.92 Jul : 1.15 2.15 2.85 3.26 1.85 0.06 0.98 Russia Jun : 0.22 3/ 1.43 1.45 0.00 0.00 0.20 Jul : 0.22 3/ 1.43 1.45 0.00 0.00 0.20 Turkey Jun : 1.78 3.70 3.30 7.00 0.15 0.00 1.63 Jul : 1.78 3.70 3.30 7.00 0.15 0.00 1.63 Sel. Asia 9/ Jun : 2.35 0.15 8.31 8.65 0.06 0.08 2.02 Jul : 2.34 0.15 8.33 8.68 0.06 0.08 2.01 Indonesia Jun : 0.48 0.03 2.30 2.30 0.02 0.05 0.44 Jul : 0.48 0.03 2.30 2.30 0.02 0.05 0.44 Thailand Jun : 0.55 0.05 2.00 2.10 0.01 0.03 0.47 Jul : 0.55 0.05 2.00 2.10 0.01 0.03 0.47 =============================================================================== 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 estimated 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/ Includes intra-EU trade. 9/ Hong Kong, Indonesia, Japan, South Korea, Taiwan, Thailand, and Vietnam. WASDE-424-26 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 2003/04 World 2/ : 40.40 186.26 54.03 163.65 190.02 55.67 35.00 United States : 4.85 66.78 0.15 41.63 44.78 23.95 3.06 Total foreign : 35.54 119.48 53.88 122.02 145.24 31.72 31.94 Major exporters 3/ : 28.49 87.41 0.88 55.36 60.00 29.30 27.47 Argentina : 12.47 33.00 0.54 25.04 26.62 6.71 12.68 Brazil : 15.93 50.50 0.33 29.33 32.24 19.82 14.70 Major importers 4/ : 6.05 17.43 43.57 49.00 63.24 0.34 3.46 China : 4.47 15.39 16.93 25.44 34.38 0.32 2.10 EU-25 : 0.93 0.63 14.64 14.13 15.46 0.01 0.74 Japan : 0.31 0.23 4.69 3.54 4.93 0.00 0.30 Mexico : 0.05 0.13 3.80 3.89 3.93 0.00 0.04 : : 2004/05 (Estimated) World 2/ : 35.00 214.32 61.46 173.59 203.26 62.43 45.08 United States : 3.06 85.48 0.14 45.99 50.58 30.21 7.89 Total foreign : 31.94 128.84 61.32 127.60 152.68 32.22 37.19 Major exporters 3/ : 27.47 93.80 1.15 56.42 61.59 29.80 31.02 Argentina : 12.68 39.00 0.60 25.53 27.28 8.17 16.84 Brazil : 14.70 51.00 0.53 29.39 32.60 19.54 14.09 Major importers 4/ : 3.46 20.15 49.99 52.81 68.11 0.38 5.11 China : 2.10 18.00 23.20 29.40 39.25 0.35 3.70 EU-25 : 0.74 0.79 14.96 14.29 15.69 0.01 0.79 Japan : 0.30 0.17 4.40 3.20 4.58 0.00 0.28 Mexico : 0.04 0.13 3.80 3.89 3.93 0.00 0.04 : : 2005/06 (Projected) World 2/ : June : 47.16 219.72 65.58 183.52 214.02 66.45 51.99 July : 45.08 219.71 65.68 182.44 213.11 66.62 50.73 United States : June : 8.71 78.79 0.08 45.72 49.76 30.89 6.93 July : 7.89 78.65 0.08 45.99 50.03 30.89 5.71 Total foreign : June : 38.44 140.93 65.50 137.80 164.25 35.56 45.06 July : 37.19 141.05 65.60 136.45 163.09 35.73 45.02 Major exporters 3/ : June : 32.25 105.80 0.58 60.95 66.47 33.25 38.92 July : 31.02 105.80 1.03 59.83 65.55 33.40 38.90 Argentina Jun : 16.51 39.00 0.35 27.75 29.50 8.25 18.11 Jul : 16.84 39.00 0.50 26.63 28.58 8.40 19.35 Brazil Jun : 15.65 62.00 0.22 31.60 35.15 22.00 20.72 Jul : 14.09 62.00 0.52 31.60 35.15 22.00 19.46 Major importers 4/ : June : 5.13 19.29 54.30 56.97 73.08 0.37 5.27 July : 5.11 19.29 54.20 56.87 72.98 0.37 5.25 China Jun : 3.70 17.00 27.00 33.12 43.67 0.33 3.70 Jul : 3.70 17.00 27.00 33.12 43.67 0.33 3.70 EU-25 Jun : 0.79 0.85 15.20 14.50 15.94 0.01 0.89 Jul : 0.79 0.85 15.20 14.50 15.94 0.01 0.89 Japan Jun : 0.30 0.23 4.60 3.40 4.79 0.00 0.34 Jul : 0.28 0.23 4.50 3.30 4.69 0.00 0.32 Mexico Jun : 0.04 0.13 4.00 4.09 4.13 0.00 0.04 Jul : 0.04 0.13 4.00 4.09 4.13 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-424-27 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2003/04 World 2/ : 4.44 128.78 44.70 128.91 45.31 3.69 United States : 0.20 32.95 0.25 28.59 4.62 0.19 Total foreign : 4.24 95.82 44.45 100.32 40.69 3.50 Major exporters 3/ : 1.16 46.96 0.27 10.02 37.02 1.35 Argentina : 0.35 19.76 0.00 0.62 18.95 0.54 Brazil : 0.77 22.78 0.27 8.28 14.76 0.78 India : 0.05 4.42 0.00 1.12 3.31 0.04 Major importers 4/ : 1.19 33.04 26.77 58.77 1.11 1.13 EU-25 : 0.87 11.10 21.86 32.59 0.40 0.85 China : 0.00 20.19 0.02 19.54 0.67 0.00 : : 2004/05 (Estimated) World 2/ : 3.69 136.63 45.34 135.86 46.18 3.62 United States : 0.19 36.54 0.15 30.12 6.53 0.23 Total foreign : 3.50 100.09 45.19 105.74 39.65 3.39 Major exporters 3/ : 1.35 46.77 0.20 11.31 35.81 1.21 Argentina : 0.54 20.16 0.00 0.76 19.27 0.68 Brazil : 0.78 22.85 0.20 8.50 14.85 0.48 India : 0.04 3.77 0.00 2.05 1.70 0.05 Major importers 4/ : 1.13 36.36 27.57 62.71 1.23 1.12 EU-25 : 0.85 11.23 22.75 33.61 0.36 0.86 China : 0.00 23.27 0.08 22.52 0.82 0.00 : : 2005/06 (Projected) World 2/ : June : 3.82 144.34 46.78 143.85 47.14 3.96 July : 3.62 143.81 46.73 143.10 47.30 3.76 United States : June : 0.23 36.32 0.15 31.21 5.26 0.23 July : 0.23 36.50 0.15 30.53 6.12 0.23 Total foreign : June : 3.60 108.02 46.63 112.64 41.87 3.73 July : 3.39 107.31 46.58 112.58 41.18 3.53 Major exporters 3/ : June : 1.41 50.66 0.10 12.71 37.93 1.53 July : 1.21 50.06 0.10 12.71 37.33 1.33 Argentina Jun : 0.68 21.65 0.00 1.00 20.60 0.73 Jul : 0.68 21.05 0.00 1.00 20.00 0.73 Brazil Jun : 0.68 24.60 0.10 9.40 15.23 0.75 Jul : 0.48 24.60 0.10 9.40 15.23 0.55 India Jun : 0.05 4.41 0.00 2.31 2.10 0.05 Jul : 0.05 4.41 0.00 2.31 2.10 0.05 Major importers 4/ : June : 1.12 39.51 28.33 66.60 1.24 1.12 July : 1.12 39.51 28.33 66.60 1.24 1.12 EU-25 Jun : 0.86 11.40 23.20 34.19 0.39 0.87 Jul : 0.86 11.40 23.30 34.29 0.39 0.87 China Jun : 0.00 26.37 0.05 25.62 0.80 0.00 Jul : 0.00 26.37 0.05 25.62 0.80 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-424-28 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2003/04 World 2/ : 1.97 29.88 8.35 29.67 8.98 1.55 United States : 0.68 7.75 0.14 7.65 0.42 0.49 Total foreign : 1.30 22.13 8.21 22.01 8.56 1.07 Major exporters 3/ : 0.38 12.68 0.08 5.10 7.70 0.34 Argentina : 0.05 4.51 0.00 0.11 4.41 0.04 Brazil : 0.10 5.64 0.03 2.95 2.72 0.10 EU-25 : 0.23 2.54 0.04 2.03 0.57 0.21 Major importers 4/ : 0.38 5.57 3.54 9.02 0.03 0.44 China : 0.25 4.54 2.73 7.17 0.02 0.33 India : 0.13 1.02 0.76 1.78 0.02 0.11 Pakistan : 0.01 0.01 0.05 0.07 0.00 0.01 : : 2004/05 (Estimated) World 2/ : 1.55 31.86 9.31 31.49 9.42 1.80 United States : 0.49 8.72 0.05 7.85 0.64 0.77 Total foreign : 1.07 23.14 9.26 23.65 8.79 1.04 Major exporters 3/ : 0.34 12.87 0.14 5.11 7.90 0.35 Argentina : 0.04 4.70 0.00 0.12 4.55 0.07 Brazil : 0.10 5.63 0.05 3.01 2.66 0.10 EU-25 : 0.21 2.55 0.09 1.98 0.68 0.19 Major importers 4/ : 0.44 6.14 3.81 9.95 0.03 0.42 China : 0.33 5.25 2.15 7.47 0.02 0.24 India : 0.11 0.87 1.60 2.40 0.01 0.17 Pakistan : 0.01 0.02 0.06 0.08 0.00 0.01 : : 2005/06 (Projected) World 2/ : June : 1.76 33.62 9.77 33.28 10.11 1.77 July : 1.80 33.47 9.86 33.28 10.06 1.80 United States : June : 0.69 8.60 0.05 8.01 0.64 0.70 July : 0.77 8.65 0.05 8.01 0.70 0.76 Total foreign : June : 1.07 25.03 9.72 25.28 9.48 1.07 July : 1.04 24.82 9.81 25.27 9.36 1.04 Major exporters 3/ : June : 0.35 13.66 0.07 5.18 8.56 0.33 July : 0.35 13.53 0.07 5.18 8.43 0.33 Argentina Jun : 0.07 5.02 0.00 0.14 4.90 0.05 Jul : 0.07 4.89 0.00 0.14 4.77 0.05 Brazil Jun : 0.10 6.04 0.03 3.10 2.97 0.10 Jul : 0.10 6.04 0.03 3.10 2.97 0.10 EU-25 Jun : 0.19 2.59 0.04 1.94 0.70 0.18 Jul : 0.19 2.59 0.04 1.94 0.70 0.18 Major importers 4/ : June : 0.45 7.02 4.33 11.30 0.02 0.47 July : 0.42 7.02 4.31 11.27 0.02 0.45 China Jun : 0.27 5.97 2.60 8.56 0.01 0.27 Jul : 0.24 5.97 2.60 8.55 0.01 0.25 India Jun : 0.17 1.02 1.65 2.64 0.01 0.19 Jul : 0.17 1.02 1.65 2.64 0.01 0.19 Pakistan Jun : 0.01 0.02 0.08 0.10 0.00 0.01 Jul : 0.01 0.02 0.06 0.08 0.00 0.01 =============================================================================== 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-424-29 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 2004 : III : 6360 5047 11493 8839 1390 10365 21858 1870 42.2 IV : 6097 5435 11623 8537 1389 10053 21676 1906 42.0 Annual : 24548 20509 45419 34063 5454 40021 85440 7443 170.8 : 2005 : I : 5727 5136 10951 8571 1320 10013 20964 1855 43.2 II*: 6195 5025 11305 8875 1375 10375 21680 1855 45.3 III*: 6875 5100 12064 9175 1375 10690 22754 1875 43.3 IV*: 6400 5575 12074 8850 1400 10380 22454 1910 43.4 Annual : Jun Proj : 25252 20761 46375 35371 5470 41348 87723 7505 174.3 Jul Proj : 25197 20836 46394 35471 5470 41458 87852 7495 175.2 : 2006 : I*: 5950 5200 11244 8825 1310 10260 21504 1865 44.6 II*: 6775 5075 11954 9125 1390 10645 22599 1900 46.2 Annual : Jun Proj : 25975 20940 47311 36275 5535 42325 89636 7635 178.7 Jul Proj : 25975 21125 47496 36525 5535 42585 90081 7635 179.3 =============================================================================== * 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 2004 : III : 83.58 56.58 75.7 73.1 66.2 15.50 IV : 85.09 54.35 68.3 77.1 68.0 16.07 Annual : 84.75 52.51 74.1 69.7 82.2 16.05 : 2005 : I : 89.09 51.92 71.9 65.9 64.5 15.67 II : 87.96 52.09 72.6 67.7 55.9 14.87 III*: 80-84 46-48 73-75 71-73 61-63 14.60-15.00 IV*: 81-87 40-42 71-77 74-80 65-69 14.40-15.10 Annual : Jun Proj : 85-88 48-50 72-74 69-72 61-64 14.80-15.20 Jul Proj : 85-87 47-49 72-74 70-72 61-63 14.85-15.15 : 2006 : I*: 74-80 44-48 70-76 60-66 62-68 13.50-14.50 II*: 76-82 46-50 71-77 63-69 60-64 12.40-13.40 Annual : Jun Proj : 76-82 44-48 71-77 66-71 63-68 13.05-14.05 Jul Proj : 76-82 43-47 71-77 66-71 63-68 12.90-13.90 =============================================================================== *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-424-30 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 : 2004 : 518 24650 3680 28848 461 637 27750 66.1 2005 Proj. Jun : 637 25354 3701 29692 625 575 28492 67.2 Jul : 637 25299 3701 29637 615 575 28447 67.1 2006 Proj. Jun : 575 26077 3740 30392 660 575 29157 68.1 Jul : 575 26077 3740 30392 640 575 29177 68.2 : PORK : 2004 : 532 20529 1100 22161 2179 543 19439 51.3 2005 Proj. Jun : 543 20781 1015 22339 2545 545 19249 50.3 Jul : 543 20856 980 22379 2645 545 19189 50.2 2006 Proj. Jun : 545 20960 1020 22525 2745 545 19235 49.8 Jul : 545 21145 960 22650 2745 545 19360 50.1 : TOTAL RED MEAT 5/ : 2004 : 1059 45555 4961 51575 2649 1187 47739 119.0 2005 Proj. Jun : 1187 46510 4889 52586 3179 1133 48274 119.1 Jul : 1187 46529 4858 52574 3269 1133 48172 118.8 2006 Proj. Jun : 1133 47446 4935 53514 3413 1133 48968 119.6 Jul : 1133 47631 4875 53639 3393 1133 49113 120.0 : BROILERS : 2004 : 608 33699 27 34334 4768 713 28853 84.3 2005 Proj. Jun : 713 34993 36 35742 4969 650 30123 87.2 Jul : 713 35091 36 35840 5039 650 30151 87.2 2006 Proj. Jun : 650 35887 36 36573 5110 675 30788 88.3 Jul : 650 36134 36 36820 5175 675 30970 88.8 : TURKEYS : 2004 : 354 5383 5 5742 443 288 5011 17.0 2005 Proj. Jun : 288 5398 8 5694 526 250 4918 16.6 Jul : 288 5398 8 5694 536 250 4908 16.5 2006 Proj. Jun : 250 5462 4 5716 535 300 4881 16.3 Jul : 250 5462 4 5716 535 300 4881 16.3 : TOTAL POULTRY 6/ : 2004 : 966 39585 34 40584 5423 1004 34157 102.4 2005 Proj. Jun : 1004 40897 48 41949 5631 903 35415 105.0 Jul : 1004 41006 48 42058 5711 903 35444 105.1 2006 Proj. Jun : 903 41864 44 42811 5785 979 36047 105.8 Jul : 903 42121 44 43068 5850 979 36239 106.4 : RED MEAT & POULTRY: 2004 : 2025 85140 4995 92159 8072 2191 81896 221.4 2005 Proj. Jun : 2191 87407 4937 94536 8810 2036 83690 224.0 Jul : 2191 87535 4906 94633 8980 2036 83617 223.9 2006 Proj. Jun : 2036 89310 4979 96325 9198 2112 85015 225.4 Jul : 2036 89752 4919 96707 9243 2112 85352 226.3 ============================================================================ 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-424-31 U.S. Egg Supply and Use =============================================================================== : : : 2005 Projected : 2006 Projected : : :-----------------:----------------- Commodity : 2003 : 2004 : Jun : Jul : Jun : Jul =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 10.3 13.7 14.5 14.5 14.0 13.5 Production : 7297.0 7443.0 7505.2 7495.2 7635.0 7635.0 Imports : 13.3 12.7 13.0 13.0 12.8 12.8 Total supply : 7320.6 7469.4 7532.7 7522.7 7661.8 7661.3 : Use : Exports : 146.2 166.7 200.0 196.8 200.0 200.0 Hatching use : 959.4 987.2 1026.6 1021.6 1050.0 1050.0 Ending stocks : 13.7 14.5 14.0 13.5 14.0 13.5 Consumption : Total : 6201.3 6301.0 6292.0 6290.8 6397.8 6397.8 Per capita (number) : 255.7 257.2 254.3 254.3 256.2 256.2 =============================================================================== U.S. Milk Supply and Use =============================================================================== : : : 2005 Projected : 2006 Projected Commodity : : :-----------------:----------------- : 2003 : 2004 : Jun : Jul : Jun : Jul =============================================================================== : Billion pounds Milk : Production : 170.4 170.8 174.3 175.2 178.7 179.3 Farm use : 1.1 1.1 1.1 1.1 1.1 1.1 : Fat Basis Supply : Beg. commercial stocks : 9.9 8.3 7.2 7.2 7.6 8.0 Marketings : 169.3 169.7 173.2 174.1 177.6 178.2 Imports : 5.0 5.3 5.1 5.1 4.9 4.9 Total cml. supply : 184.2 183.3 185.4 186.3 190.1 191.1 : Fat Basis Use : Ending commercial stks : 8.3 7.2 7.6 8.0 7.5 7.9 CCC net removals 1/ : 1.2 -0.1 0.0 0.0 0.1 0.1 Commercial use 2/ : 174.7 176.2 177.9 178.3 182.5 183.1 : Skim-solids Basis Supply : Beg. commercial stocks : 8.5 8.5 8.2 8.2 8.2 8.4 Marketings : 169.3 169.7 173.2 174.1 177.6 178.2 Imports : 5.0 4.8 5.0 5.0 4.8 4.8 Total cml. supply : 182.8 183.0 186.3 187.3 190.6 191.4 : Skim-solids Basis Use : Ending commercial stks : 8.5 8.2 8.2 8.4 8.2 8.2 CCC net removals 1/ : 8.1 1.3 -0.3 -1.0 0.9 1.0 Commercial use 2/ : 166.2 173.5 178.4 179.8 181.4 182.2 : : Million pounds CCC product net removals 1/: Butter : 29 -7 0 0 0 0 Cheese : 41 6 0 0 7 7 Nonfat dry milk : 664 105 -25 -85 75 80 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-424-32 U.S. Dairy Prices =============================================================================== : : : 2005 Projected : 2006 Projected : : :-----------------:------------------ Commodity : 2003 : 2004 : Jun : Jul : Jun : Jul =============================================================================== : Dollars per pound : Product Prices 1/ : Cheese : 1.3031 1.6431 1.470- 1.470- 1.310- 1.300- : 1.510 1.500 1.410 1.400 : Butter : 1.1194 1.8239 1.450- 1.475- 1.305- 1.280- : 1.520 1.535 1.435 1.410 : Nonfat dry milk : 0.8090 0.8405 0.900- 0.900- 0.860- 0.860- : 0.940 0.930 0.930 0.930 : Dry whey : 0.1667 0.2319 0.235- 0.240- 0.175- 0.175- : 0.255 0.260 0.205 0.205 : : Dollars per cwt Milk Prices 2/ : Class III : 11.42 15.39 13.60- 13.70- 11.70- 11.60- : 14.00 14.00 12.70 12.60 : Class IV : 10.00 13.20 12.20- 12.30- 11.20- 11.10- : 12.70 12.70 12.30 12.20 : All milk 3/ : 12.52 16.05 14.80- 14.85- 13.05- 12.90- : 15.20 15.15 14.05 13.90 : =============================================================================== 1/ Simple average of monthly prices calculated by AMS from NASS weekly average dairy product prices for class price computations. Details may be found at http://www.ams.usda.gov/dyfmos/mib/fedordprc_dscrp.htm. 2/ Annual Class III and Class IV prices are the simple averages of monthly minimum Federal order milk prices paid by regulated plants for milk used in the respective classes. All milk price is the simple average of monthly prices received by farmers for milk at average test. 3/ Does not reflect any deductions from producers as authorized by legislation. WASDE-424-33 Note: Tables on pages 33-35 present a 24-year record of the differences between the July projection and the final estimate. Using world wheat production as an example, changes between the July projection and the final estimate have averaged 14.1 million tons (2.6%) ranging from -34.6 to 23.7 million tons. The July projection has been below the estimate 14 times and above 10 times. Reliability of July Projections ------------------------------------------------------------------------------- :Differences between proj. & final estimate,1981/82-2004/05 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- WHEAT :Percent Million metric tons Number of years 2/ Production : World : 2.6 14.1 -34.6 23.7 14 10 U.S. : 2.8 1.7 -6.2 5.4 10 14 Foreign : 2.9 13.6 -32.0 21.1 14 10 Exports : World : 4.5 5.2 -14.5 11.3 14 10 U.S. : 8.4 2.8 -10.0 7.8 14 10 Foreign : 5.3 4.4 -10.8 7.1 15 9 Domestic use : World : 1.8 9.3 -25.7 17.4 15 9 U.S. : 5.9 1.8 -5.0 3.6 11 13 Foreign : 1.7 8.4 -22.4 15.9 16 8 Ending stocks : World : 9.6 12.4 -26.0 27.0 15 9 U.S. : 14.0 3.3 -10.2 13.9 13 11 Foreign : 9.8 10.2 -25.0 13.8 15 9 : COARSE GRAINS 3/ : Production : World : 2.5 21.0 -68.4 53.6 11 13 U.S. : 7.4 16.1 -32.6 57.7 10 14 Foreign : 2.1 12.3 -37.9 28.2 10 14 Exports : World : 6.0 6.3 -11.1 17.8 15 9 U.S. : 15.1 7.9 -20.9 15.0 8 16 Foreign : 13.6 7.1 -19.7 14.2 14 10 Domestic use : World : 1.5 12.3 -20.4 26.7 11 13 U.S. : 3.9 7.1 -14.5 22.2 17 7 Foreign : 1.5 9.8 -11.3 30.5 12 12 Ending stocks : World : 14.4 19.0 -60.2 41.0 14 10 U.S. : 31.9 15.7 -50.5 39.5 9 15 Foreign : 12.4 10.0 -27.0 9.9 17 7 : RICE, milled : Production : World : 2.1 7.3 -24.0 14.2 16 8 U.S. : 4.3 0.2 -0.5 0.4 13 9 Foreign : 2.2 7.3 -24.3 14.3 16 8 Exports : World : 7.8 1.5 -6.7 0.9 16 8 U.S. : 8.4 0.2 -1.0 0.7 13 9 Foreign : 8.6 1.4 -6.5 0.7 16 8 Domestic use : World : 1.7 5.6 -22.4 22.9 16 8 U.S. : 7.1 0.2 -0.4 0.5 10 14 Foreign : 1.7 5.7 -22.9 22.8 16 8 Ending stocks : World : 10.9 4.6 -15.6 8.0 19 5 U.S. : 23.2 0.3 -0.5 1.0 13 10 Foreign : 11.8 4.6 -16.5 8.4 19 5 ------------------------------------------------------------------------------- 1/ Footnotes at end of table. CONTINUED WASDE-424-34 Reliability of July Projections (Continued) ------------------------------------------------------------------------------- :Differences between proj. & final estimate,1981/82-2004/05 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- SOYBEANS :Percent Million metric tons Number of years 2/ Production : World : 4.0 5.3 -11.9 18.0 11 13 U.S. : 6.1 3.7 -9.8 11.7 11 13 Foreign : 6.7 4.8 -10.3 13.7 13 11 Exports : World : 7.1 2.7 -10.7 8.5 15 9 U.S. : 10.7 2.2 -6.0 6.2 14 10 Foreign : 18.6 2.3 -9.9 6.0 12 12 Domestic use : World : 3.7 4.9 -9.9 12.5 15 9 U.S. : 4.6 1.8 -4.4 4.5 15 9 Foreign : 4.3 4.0 -8.8 8.3 15 9 Ending stocks : World : 12.7 2.6 -8.2 4.9 15 9 U.S. : 42.5 2.8 -4.0 8.2 8 16 Foreign : 17.8 2.8 -9.8 3.5 16 8 : COTTON : Million 480-pound bales Production : World : 4.2 3.6 -14.9 10.3 15 9 U.S. : 8.9 1.5 -5.2 3.6 15 9 Foreign : 4.2 3.0 -12.1 10.5 12 11 Exports : World : 5.1 1.3 -4.1 2.7 13 11 U.S. : 17.7 1.0 -2.1 2.8 16 8 Foreign : 6.3 1.2 -3.4 2.0 9 15 Mill use : World : 2.7 2.3 -7.9 3.4 11 13 U.S. : 7.5 0.6 -1.4 1.3 13 10 Foreign : 2.8 2.2 -7.4 4.0 11 13 Ending stocks : World : 14.8 5.3 -14.3 15.3 16 8 U.S. : 33.0 1.5 -3.4 2.4 11 13 Foreign : 14.4 4.5 -13.9 12.9 17 7 ------------------------------------------------------------------------------- 1/ Final estimate for 1981/82-2003/04 is defined as the first November estimate following the marketing year and for 2004/05 last month's estimate. 2/ May not total 24 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. WASDE-424-35 Reliability of United States July Projections 1/ ------------------------------------------------------------------------------- :Differences between proj. & final estimate,1981/82-2004/05 2/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- CORN :Percent Million bushels Number of years 3/ Production : 8.0 577 -1172 2034 13 11 Exports : 16.4 295 -775 546 9 15 Domestic use : 4.3 269 -558 770 17 7 Ending stocks : 37.6 557 -1840 1343 10 14 : SORGHUM : Production : 14.0 83 -213 176 13 11 Exports : 17.5 40 -115 97 11 13 Domestic use : 15.2 57 -139 113 11 13 Ending stocks : 52.7 66 -174 157 8 16 : BARLEY : Production : 6.4 26 -87 62 8 15 Exports : 32.3 19 -92 43 15 8 Domestic use : 9.1 32 -47 87 11 13 Ending stocks : 20.0 34 -50 114 9 15 : OATS : Production : 10.2 27 -39 144 4 19 Exports : 67.1 2 -5 8 7 9 Domestic use : 5.7 20 -39 67 8 15 Ending stocks : 14.5 17 -33 68 9 15 : : Thousand short tons SOYBEAN MEAL : Production : 4.4 1349 -3271 4432 16 8 Exports : 14.2 897 -2450 1764 11 13 Domestic use : 4.1 925 -1550 4470 13 11 Ending stocks : 30.1 71 -204 413 8 15 : : Million pounds SOYBEAN OIL : Production : 4.2 608 -1753 1553 15 9 Exports : 23.7 372 -1550 1219 14 10 Domestic use : 2.8 362 -985 758 15 8 Ending stocks : 36.2 511 -1123 1568 10 14 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 1.2 303 -258 694 15 8 Pork : 0.9 150 -277 436 13 10 Broilers : 0.7 168 -301 469 15 8 Turkeys : 1.2 51 -134 101 16 7 : : Million dozen Eggs : 0.8 48 -48 115 16 7 : : Billion pounds Milk : 0.7 1.1 -3.6 3.9 12 11 ------------------------------------------------------------------------------- 1/ See pages 33 and 34 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-2003/04 is defined as the first November estimate following the marketing year and for 2004/05 last month's estimate. 3/ May not total 24 for crops and 23 for animal production if projection was the same as the final estimate. 4/ Calendar years 1982 thru 2004 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS. ------------ End of File --------------------