WASDE - 662 - 8 July 2025 World and U.S. Supply and Use for Grains 1/ Million Metric Tons ================================================================================ Total Total Ending Commodity Output Supply Trade 2/ Use 3/ Stocks ================================================================================ World Total Grains 4/ 2023/24 2822.80 3615.73 515.20 2819.47 796.26 2024/25 (Est.) 2847.29 3643.54 499.70 2879.65 763.90 2025/26 (Proj.) Jun 2900.86 3666.06 514.42 2913.08 752.98 Jul 2896.90 3660.80 512.60 2912.87 747.93 Wheat 2023/24 791.95 1066.60 222.24 797.45 269.16 2024/25 (Est.) 799.92 1069.07 206.59 805.48 263.59 2025/26 (Proj.) Jun 808.59 1072.57 214.33 809.80 262.76 Jul 808.55 1072.14 213.06 810.62 261.52 Coarse Grains 5/ 2023/24 1507.20 1844.67 236.16 1497.41 347.26 2024/25 (Est.) 1505.86 1853.12 230.92 1540.43 312.69 2025/26 (Proj.) Jun 1550.70 1864.59 238.38 1562.20 302.39 Jul 1547.08 1859.77 237.79 1560.63 299.14 Rice, milled 2023/24 523.65 704.46 56.79 524.62 179.84 2024/25 (Est.) 541.51 721.35 62.19 533.73 187.62 2025/26 (Proj.) Jun 541.58 728.90 61.71 541.07 187.83 Jul 541.27 728.90 61.75 541.62 187.28 United States Total Grains 4/ 2023/24 458.90 520.30 85.72 366.49 68.09 2024/25 (Est.) 451.56 527.52 98.07 367.50 61.96 2025/26 (Proj.) Jun 475.07 544.37 99.91 371.12 73.34 Jul 471.72 540.87 99.89 370.03 70.95 Wheat 2023/24 49.10 68.35 19.21 30.18 18.95 2024/25 (Est.) 53.65 76.66 22.48 31.03 23.15 2025/26 (Proj.) Jun 52.28 78.44 22.45 31.54 24.45 Jul 52.49 78.91 23.13 31.54 24.23 Coarse Grains 5/ 2023/24 402.88 442.66 63.37 331.42 47.87 2024/25 (Est.) 390.86 441.01 72.62 331.07 37.32 2025/26 (Proj.) Jun 415.98 456.07 74.44 334.21 47.42 Jul 412.72 452.35 73.81 333.24 45.30 Rice, milled 2023/24 6.92 9.29 3.15 4.88 1.27 2024/25 (Est.) 7.05 9.86 2.97 5.40 1.49 2025/26 (Proj.) Jun 6.81 9.86 3.02 5.37 1.48 Jul 6.51 9.61 2.95 5.24 1.42 ================================================================================ WASDE - 662 - 9 July 2025 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/ 2023/24 2363.91 3095.43 429.47 2452.99 728.17 2024/25 (Est.) 2395.73 3116.02 401.64 2512.15 701.94 2025/26 (Proj.) Jun 2425.80 3121.69 414.51 2541.96 679.64 Jul 2425.18 3119.93 412.71 2542.84 676.98 Wheat 2023/24 742.86 998.26 203.03 767.27 250.20 2024/25 (Est.) 746.27 992.41 184.11 774.45 240.44 2025/26 (Proj.) Jun 756.31 994.13 191.87 778.26 238.32 Jul 756.06 993.23 189.92 779.08 237.29 Coarse Grains 5/ 2023/24 1104.32 1402.01 172.80 1165.98 299.39 2024/25 (Est.) 1115.01 1412.11 158.31 1209.36 275.37 2025/26 (Proj.) Jun 1134.72 1408.52 163.94 1228.00 254.97 Jul 1134.35 1407.41 163.99 1227.38 253.84 Rice, milled 2023/24 516.73 695.17 53.65 519.74 178.58 2024/25 (Est.) 534.46 711.49 59.22 528.33 186.13 2025/26 (Proj.) Jun 534.77 719.04 58.70 535.71 186.35 Jul 534.76 719.29 58.80 536.38 185.86 ================================================================================ World and U.S. Supply and Use for Cotton 1/ Million 480-lb. Bales ================================================================================ Total Total Ending Commodity Output Supply Trade 2/ Use 3/ Stocks ================================================================================ World 2023/24 112.96 188.87 44.59 114.80 73.74 2024/25 (Est.) 119.90 193.64 42.99 116.70 76.78 2025/26 (Proj.) Jun 116.99 194.28 44.79 117.76 76.80 Jul 118.42 195.20 44.69 118.12 77.32 United States 2023/24 12.07 16.72 11.75 1.85 3.15 2024/25 (Est.) 14.41 17.57 11.80 1.70 4.10 2025/26 (Proj.) Jun 14.00 18.41 12.50 1.70 4.30 Jul 14.60 18.71 12.50 1.70 4.60 Foreign 4/ 2023/24 100.90 172.15 32.84 112.95 70.59 2024/25 (Est.) 105.49 176.07 31.19 115.00 72.68 2025/26 (Proj.) Jun 102.99 175.88 32.29 116.06 72.50 Jul 103.82 176.50 32.19 116.42 72.72 ================================================================================ WASDE - 662 - 10 July 2025 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 2023/24 658.25 781.24 205.26 543.36 136.63 2024/25 (Est.) 679.47 816.09 209.90 561.94 143.33 2025/26 (Proj.) Jun 692.25 834.43 214.98 580.80 144.13 Jul 693.45 836.78 214.49 581.77 145.18 Oilmeals 2023/24 371.03 389.42 105.75 365.93 19.31 2024/25 (Est.) 387.46 406.77 111.38 379.50 22.36 2025/26 (Proj.) Jun 400.43 422.64 112.94 395.07 23.05 Jul 401.16 423.53 113.34 395.84 23.34 Vegetable Oils 2023/24 222.10 254.45 86.10 217.78 30.71 2024/25 (Est.) 228.70 259.41 86.14 223.58 30.07 2025/26 (Proj.) Jun 234.99 264.82 87.69 229.38 29.97 Jul 235.07 265.14 87.19 229.79 29.66 United States Oilseeds 2023/24 122.16 132.12 47.49 66.22 10.81 2024/25 (Est.) 128.35 140.32 51.85 69.70 11.01 2025/26 (Proj.) Jun 128.39 140.39 50.41 72.00 9.70 Jul 128.28 140.51 48.53 73.38 10.22 Oilmeals 2023/24 51.43 56.13 14.75 40.90 0.49 2024/25 (Est.) 54.28 59.38 15.99 42.90 0.50 2025/26 (Proj.) Jun 55.68 60.70 16.53 43.65 0.52 Jul 56.74 61.56 17.17 43.87 0.52 Vegetable Oils 2023/24 13.59 21.59 0.42 20.13 1.04 2024/25 (Est.) 14.28 21.23 1.32 18.88 1.02 2025/26 (Proj.) Jun 14.67 22.21 0.92 20.23 1.07 Jul 14.95 22.38 0.47 20.78 1.14 Foreign 3/ Oilseeds 2023/24 536.09 649.12 157.77 477.14 125.81 2024/25 (Est.) 551.11 675.77 158.06 492.23 132.32 2025/26 (Proj.) Jun 563.86 694.04 164.57 508.80 134.43 Jul 565.17 696.27 165.96 508.39 134.97 Oilmeals 2023/24 319.60 333.29 91.00 325.04 18.83 2024/25 (Est.) 333.18 347.39 95.39 336.60 21.87 2025/26 (Proj.) Jun 344.76 361.94 96.40 351.42 22.53 Jul 344.43 361.97 96.17 351.96 22.83 Vegetable Oils 2023/24 208.51 232.86 85.68 197.65 29.67 2024/25 (Est.) 214.42 238.18 84.82 204.70 29.05 2025/26 (Proj.) Jun 220.32 242.61 86.78 209.15 28.90 Jul 220.12 242.76 86.72 209.01 28.52 ================================================================================ WASDE - 662 - 11 July 2025 U.S. Wheat Supply and Use 1/ ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Jun Jul ================================================================================ Million Acres Area Planted 49.6 46.1 45.4* 45.5 Area Harvested 37.1 38.5 37.2* 36.6 Bushels Yield per Harvested Acre 48.7 51.2 51.6* 52.6 Million Bushels Beginning Stocks 570 696 841 851 Production 1804 1971 1921 1929 Imports 138 149 120 120 Supply, Total 2511 2817 2882 2899 Food 961 975 977 977 Seed 62 62 62 62 Feed and Residual 86 103 120 120 Domestic, Total 1109 1140 1159 1159 Exports 706 826 825 850 Use, Total 1815 1966 1984 2009 Ending Stocks 696 851 898 890 Avg.FarmPrice ($/bu) 2/ 6.96 5.52 5.40 5.40 ================================================================================ U.S. Wheat by Class: Supply and Use ================================================================================ Year begining Hard Red Hard Red Soft Red June 1 Winter Spring Winter White Durum Total ================================================================================ Million Bushels 2024/25 (Est.) Beginning Stocks 274 190 126 85 21 696 Production 770 503 342 276 80 1971 Imports 6 79 5 7 51 149 Supply, Total 3/ 1051 772 474 367 152 2817 Food 388 261 155 85 86 975 Seed 27 15 12 6 3 62 Feed and Residual 22 28 63 -26 16 103 Domestic Use 436 304 230 65 105 1140 Exports 218 250 117 222 19 826 Use, Total 654 554 347 287 124 1966 Ending Stocks, Total 398 218 127 80 28 851 2025/26 (Proj.) Beginning Stocks 398 218 127 80 28 851 Production 755 469 337 289 80 1929 Imports 5 65 5 5 40 120 Supply, Total 3/ 1157 752 469 374 148 2899 Food 390 262 155 85 85 977 Seed 26 16 12 6 3 62 Feed and Residual 35 15 65 0 5 120 Domestic Use 451 293 232 91 93 1159 Exports 275 240 120 190 25 850 Use, Total 726 533 352 281 118 2009 Ending Stocks, Total Jul 431 219 117 93 30 890 Jun NA NA NA NA NA NA ================================================================================ WASDE - 662 - 12 July 2025 U.S. Feed Grain and Corn Supply and Use 1/ ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Jun Jul ================================================================================ Million Acres FEED GRAINS Area Planted 107.5 101.5 106.4* 106.1* Area Harvested 96.0 91.3 95.7* 94.9* Metric Tons Yield per Harvested Acre 4.19 4.28 4.34 4.35 Million Metric Tons Beginning Stocks 37.1 47.9 37.9 37.3 Production 402.6 390.5 415.7 412.4 Imports 2.3 2.1 2.0 2.1 Supply, Total 442.0 440.4 455.6 451.8 Feed and Residual 151.8 150.0 153.4 152.3 Food, Seed & Industrial 178.9 180.5 180.4 180.4 Domestic, Total 330.8 330.5 333.7 332.7 Exports 63.4 72.6 74.4 73.8 Use, Total 394.2 403.1 408.2 406.5 Ending Stocks 47.9 37.3 47.4 45.3 Million Acres CORN Area Planted 94.6 90.6 95.3* 95.2* Area Harvested 86.5 82.9 87.4* 86.8* Bushels Yield per Harvested Acre 177.3 179.3 181.0* 181.0* Million Bushels Beginning Stocks 1360 1763 1365 1340 Production 15341 14867 15820 15705 Imports 28 25 25 25 Supply, Total 16729 16655 17210 17070 Feed and Residual 5843 5675 5900 5850 Food,Seed& Industrial 2/ 6868 6890 6885 6885 Ethanol & by-products 3/ 5478 5500 5500 5500 Domestic, Total 12711 12565 12785 12735 Exports 2255 2750 2675 2675 Use, Total 14966 15315 15460 15410 Ending Stocks 1763 1340 1750 1660 Avg.FarmPrice ($/bu) 4/ 4.55 4.30 4.20 4.20 ================================================================================ WASDE - 662 - 13 July 2025 U.S. Sorghum, Barley, and Oats Supply and Use 1/ ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Jun Jul ================================================================================ Million Bushels SORGHUM AreaPlanted (mil. acres) 7.2 6.3 6.6* 6.2* AreaHarvested(mil.acres) 6.1 5.6 5.7* 5.3* Yield (bushels/acre) 52.0 61.3 68.8* 68.8* Beginning Stocks 24 33 52 52 Production 318 344 392 367 Imports 0 0 0 0 Supply, Total 342 377 444 419 Feed and Residual 51 155 85 85 Food, Seed & Industrial 24 70 70 70 Total Domestic 75 225 155 155 Exports 234 100 250 225 Use, Total 309 325 405 380 Ending Stocks 33 52 39 39 Avg.FarmPrice ($/bu) 2/ 4.93 4.10 4.00 4.00 BARLEY AreaPlanted (mil. acres) 3.1 2.4 2.3* 2.4* AreaHarvested(mil.acres) 2.6 1.9 1.9* 1.9* Yield (bushels/acre) 72.3 76.7 77.4* 77.1* Beginning Stocks 66 78 67 70 Production 186 144 147 148 Imports 13 9 9 9 Supply, Total 265 231 223 226 Feed and Residual 57 38 30 30 Food, Seed & Industrial 125 115 115 115 Total Domestic 182 153 145 145 Exports 5 9 5 5 Use, Total 187 162 150 150 Ending Stocks 78 70 73 76 Avg.FarmPrice ($/bu) 2/ 7.39 6.31 5.30 5.30 OATS AreaPlanted (mil. acres) 2.6 2.2 2.2* 2.3* AreaHarvested(mil.acres) 0.8 0.9 0.7* 0.8* Yield (bushels/acre) 68.6 76.5 68.6* 75.5* Beginning Stocks 35 36 29 30 Production 57 68 48 62 Imports 74 71 68 74 Supply, Total 166 175 145 166 Feed and Residual 47 62 35 50 Food, Seed & Industrial 80 81 82 82 Total Domestic 127 143 117 132 Exports 2 2 2 2 Use, Total 129 146 119 134 Ending Stocks 36 30 26 32 Avg.FarmPrice ($/bu) 2/ 3.92 3.35 3.10 3.10 ================================================================================ WASDE - 662 - 14 July 2025 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Jun Jul ================================================================================ Million Acres TOTAL RICE Area Planted 2.90 2.91 2.83* 2.68* Area Harvested 2.85 2.87 2.77* 2.65* Pounds Yield per Harvested Acre 7641 7748 7746* 7745* Million Hundredweight Beginning Stocks 2/ 30.3 39.8 45.5 47.0 Production 218.0 222.1 214.4 205.0 Imports 44.4 48.5 50.7 50.7 Supply, Total 292.6 310.5 310.6 302.7 Domestic & Residual 3/ 153.7 170.0 169.0 165.0 Exports, Total 4/ 99.0 93.5 95.0 93.0 Rough 42.5 31.5 31.0 31.0 Milled (rough equiv.) 56.5 62.0 64.0 62.0 Use, Total 252.8 263.5 264.0 258.0 Ending Stocks 39.8 47.0 46.6 44.7 Avg.MillingYield (%) 5/ 70.00 70.00 70.00 70.00 Avg.FarmPrice($/cwt) 6/ 17.30 15.10 13.50 14.00 LONG GRAIN RICE Harvested Acres (mil.) 2.05 2.26 Yield (pounds/acre) 7523 7625 Beginning Stocks 21.2 19.3 35.3 36.8 Imports 37.2 42.0 44.0 44.0 Production 153.8 172.0 159.7 152.8 Supply, Total 7/ 212.2 233.3 239.0 233.6 Domestic & Residual 3/ 117.8 133.0 137.0 133.0 Exports 8/ 75.1 63.5 68.0 66.0 Use, Total 192.9 196.5 205.0 199.0 Ending Stocks 19.3 36.8 34.0 34.6 Avg.FarmPrice($/cwt) 6/ 15.90 14.10 12.50 13.00 MEDIUM & SHORT GRAIN RICE Harvested Acres (mil.) 0.81 0.61 Yield (pounds/acre) 7938 8200 Beginning Stocks 6.8 18.9 8.5 8.5 Imports 7.2 6.5 6.7 6.7 Production 64.1 50.1 54.7 52.2 Supply, Total 7/ 78.8 75.5 69.9 67.4 Domestic & Residual 3/ 35.9 37.0 32.0 32.0 Exports 8/ 23.9 30.0 27.0 27.0 Use, Total 59.9 67.0 59.0 59.0 Ending Stocks 18.9 8.5 10.9 8.4 Avg. Farm Price ($/cwt) 1/ 6/ 9/ 21.60 18.90 17.40 17.60 California 10/ 22.30 20.00 19.50 19.50 Other States 1/ 17.20 15.20 13.00 13.50 ================================================================================ WASDE - 662 - 15 July 2025 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Jun Jul ================================================================================ Million Acres SOYBEANS Area Planted 83.6 87.1 83.5* 83.4** Area Harvested 82.3 86.1 82.7* 82.5** Bushels Yield per Harvested Acre 50.6 50.7 52.5* 52.5** Million Bushels Beginning Stocks 264 342 350 350 Production 4162 4366 4340 4335 Imports 21 25 20 20 Supply, Total 4447 4734 4710 4705 Crushings 2285 2420 2490 2540 Exports 1700 1865 1815 1745 Seed 75 72 73 73 Residual 44 27 37 37 Use, Total 4105 4384 4415 4395 Ending Stocks 342 350 295 310 Avg.FarmPrice ($/bu) 2/ 12.40 10.00 10.25 10.10 Million Pounds SOYBEAN OIL Beginning Stocks 1607 1551 1451 1451 Production 4/ 27093 28800 29380 29970 Imports 621 400 300 450 Supply, Total 29321 30751 31131 31871 Domestic Disappearance 27153 26700 27900 29500 Biofuel 3/ 12989 12250 13900 15500 Food, Feed & other Industrial 14164 14450 14000 14000 Exports 617 2600 1700 700 Use, Total 27770 29300 29600 30200 Ending stocks 1551 1451 1531 1671 Avg. Price (c/lb) 2/ 47.28 46.50 46.00 53.00 Thousand Short Tons SOYBEAN MEAL Beginning Stocks 371 453 450 450 Production 4/ 54106 57297 58700 59850 Imports 687 725 650 650 Supply, Total 55164 58475 59800 60950 Domestic Disappearance 38657 40625 41325 41775 Exports 16054 17400 18000 18700 Use, Total 54711 58025 59325 60475 Ending Stocks 453 450 475 475 Avg. Price ($/s.t.) 2/ 384.11 300.00 310.00 290.00 ================================================================================ WASDE - 662 - 16 July 2025 U.S. Sugar Supply and Use 1/ ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Jun Jul ================================================================================ 1000 Short Tons, Raw Value Beginning Stocks 1843 2131 2045 2132 Production 2/ 9313 9295 9254 9195 Beet Sugar 5172 5322 5150 5097 Cane Sugar 4141 3973 4104 4098 Florida 2079 1929 2016 2010 Louisiana 2022 2045 2088 2088 Texas 40 0 0 0 Imports 3840 2956 2474 2481 TRQ 3/ 1788 1533 1419 1419 Other Program 4/ 300 200 200 200 Non-program 1752 1224 855 861 Mexico 521 497 669 439 High-tier tariff/other 1231 727 186 422 Total Supply 14995 14382 13773 13808 Exports 249 100 100 100 Deliveries 12534 12150 12230 12065 Food 12428 12045 12125 11960 Other 5/ 106 105 105 105 Miscellaneous 81 0 0 0 Total Use 12864 12250 12330 12165 Ending Stocks 2131 2132 1443 1643 Stocks to Use Ratio 16.6 17.4 11.7 13.5 ================================================================================ Mexico Sugar Supply and Use and High Fructose Corn Syrup Consumption 1/ ================================================================================ Supply Use Fiscal Beginning Produc- Imports Domestic Exports Ending Year Stocks tion 2/ Stocks ================================================================================ 1000 Metric Tons, Actual Weight Sugar 2024/25 Est. Jun 1418 4774 175 4553 743 1071 Jul 1418 4770 175 4459 806 1098 2025/26 Proj. Jun 1071 5094 142 4569 657 1081 Jul 1098 5094 142 4569 684 1081 ================================================================================ WASDE - 662 - 17 July 2025 U.S. Cotton Supply and Use 1/ ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Jun Jul ================================================================================ Million Acres Planted 10.23 11.18 9.87* 10.12** Harvested 6.44 7.81 8.19* 8.66** Pounds Yield per Harvested Acre 899 886 820* 809** Million 480 Pound Bales Beginning Stocks 4.65 3.15 4.40 4.10 Production 12.07 14.41 14.00 14.60 Imports 0.00 0.01 0.01 0.01 Supply, Total 16.72 17.57 18.41 18.71 Domestic Use 1.85 1.70 1.70 1.70 Exports, Total 11.75 11.80 12.50 12.50 Use, Total 13.60 13.50 14.20 14.20 Unaccounted 2/ -0.03 -0.03 -0.10 -0.10 Ending Stocks 3.15 4.10 4.30 4.60 Avg. Farm Price 3/ 76.1 63.0 62.0 62.0 ================================================================================ WASDE - 662 - 18 July 2025 World Wheat Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2023/24 World 3/ 274.65 791.95 222.97 159.12 797.45 222.24 269.16 World Less China 135.83 655.36 209.33 122.12 643.95 221.20 134.65 United States 15.50 49.10 3.75 2.33 30.18 19.21 18.95 Total Foreign 259.15 742.86 219.22 156.79 767.27 203.03 250.20 Major Exporters 4/ 47.55 324.63 13.80 73.05 180.17 165.59 40.21 Argentina 3.97 15.85 0.00 0.25 7.05 8.23 4.54 Australia 4.37 25.96 0.22 4.30 7.80 19.84 2.91 Canada 5.63 32.95 0.56 4.00 9.12 25.43 4.58 European Union 5/ 16.27 135.38 12.66 46.50 110.50 38.01 15.79 Russia 14.39 91.50 0.30 16.00 39.00 55.50 11.69 Ukraine 2.93 23.00 0.06 2.00 6.70 18.58 0.71 Major Importers 6/ 178.86 208.72 139.40 56.25 329.56 19.76 177.65 Bangladesh 0.83 1.10 6.65 0.20 7.30 0.00 1.28 Brazil 1.80 8.10 6.61 0.60 12.00 2.81 1.69 China 138.82 136.59 13.64 37.00 153.50 1.04 134.50 Japan 1.14 1.15 5.35 0.73 6.23 0.31 1.09 N. Africa 7/ 12.17 16.37 31.48 1.63 46.58 2.00 11.44 Nigeria 0.36 0.12 5.11 0.00 4.80 0.35 0.44 Sel. Mideast 8/ 11.74 20.77 20.33 3.22 39.72 0.65 12.46 Southeast Asia 9/ 3.14 0.00 30.60 9.85 27.86 1.30 4.57 Selected Other India 9.50 110.55 0.13 6.75 112.34 0.34 7.50 Kazakhstan 4.21 12.11 2.50 2.50 7.55 7.83 3.45 United Kingdom 2.31 13.98 3.14 7.40 15.59 0.57 3.26 2024/25 Est. World 3/ 269.16 799.92 197.99 154.78 805.48 206.59 263.59 World Less China 134.65 659.82 193.99 121.78 655.48 205.59 135.98 United States 18.95 53.65 4.05 2.81 31.03 22.48 23.15 Total Foreign 250.20 746.27 193.93 151.97 774.45 184.11 240.44 Major Exporters 4/ 40.21 314.73 11.92 73.05 180.60 148.90 37.36 Argentina 4.54 18.54 0.01 0.25 7.15 11.00 4.94 Australia 2.91 34.11 0.23 4.50 8.00 25.00 4.25 Canada 4.58 34.96 0.60 3.80 9.00 27.50 3.64 European Union 5/ 15.79 122.12 10.70 45.50 109.75 26.50 12.36 Russia 11.69 81.60 0.30 17.00 40.00 43.00 10.59 Ukraine 0.71 23.40 0.08 2.00 6.70 15.90 1.59 Major Importers 6/ 177.65 211.60 119.93 51.32 327.23 16.08 165.88 Bangladesh 1.28 1.10 5.80 0.20 7.40 0.00 0.78 Brazil 1.69 7.89 6.60 0.60 12.10 1.90 2.18 China 134.50 140.10 4.00 33.00 150.00 1.00 127.60 Japan 1.09 1.08 5.45 0.70 6.20 0.33 1.10 N. Africa 7/ 11.44 16.04 31.92 1.35 46.23 2.44 10.74 Nigeria 0.44 0.13 6.25 0.00 5.75 0.38 0.68 Sel. Mideast 8/ 12.46 23.56 17.73 2.92 40.03 0.78 12.94 Southeast Asia 9/ 4.57 0.00 28.98 9.85 28.23 1.34 3.98 Selected Other India 7.50 113.29 0.16 6.00 108.76 0.19 12.00 Kazakhstan 3.45 18.58 0.50 3.20 8.30 10.20 4.02 United Kingdom 3.26 11.15 3.90 6.83 15.03 0.48 2.81 ================================================================================ WASDE - 662 - 19 July 2025 World Wheat Supply and Use 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2025/26 Proj. World 3/ Jun 263.98 808.59 210.93 155.80 809.80 214.33 262.76 Jul 263.59 808.55 208.84 156.13 810.62 213.06 261.52 World Less China Jun 136.38 666.59 204.93 122.80 659.80 213.33 138.16 Jul 135.98 666.55 202.84 123.13 660.62 212.06 136.91 United States Jun 22.90 52.28 3.27 3.27 31.54 22.45 24.45 Jul 23.15 52.49 3.27 3.27 31.54 23.13 24.23 Total Foreign Jun 241.08 756.31 207.67 152.54 778.26 191.87 238.32 Jul 240.44 756.06 205.57 152.86 779.08 189.92 237.29 Major Exporters 4/ Jun 37.18 329.55 10.66 73.40 181.25 159.00 37.14 Jul 37.36 328.75 7.71 72.90 180.75 157.00 36.07 Argentina Jun 4.94 20.00 0.01 0.30 7.30 13.00 4.65 Jul 4.94 20.00 0.01 0.30 7.30 13.00 4.65 Australia Jun 4.22 31.00 0.20 4.60 8.10 23.00 4.32 Jul 4.25 31.00 0.20 4.60 8.10 23.00 4.35 Canada Jun 4.09 36.00 0.55 4.00 9.25 27.00 4.39 Jul 3.64 35.00 0.60 3.50 8.75 27.00 3.49 European Union 5/ Jun 12.36 136.55 9.50 46.50 111.00 34.50 12.91 Jul 12.36 137.25 6.50 46.50 111.00 32.50 12.61 Russia Jun 10.09 83.00 0.30 16.00 39.00 45.00 9.39 Jul 10.59 83.50 0.30 16.00 39.00 46.00 9.39 Ukraine Jun 1.49 23.00 0.10 2.00 6.60 16.50 1.49 Jul 1.59 22.00 0.10 2.00 6.60 15.50 1.59 Major Importers 6/ Jun 166.21 210.82 132.48 51.88 330.06 16.51 162.94 Jul 165.88 210.22 133.20 52.23 330.23 16.51 162.56 Bangladesh Jun 0.78 1.00 6.90 0.30 7.90 0.00 0.78 Jul 0.78 1.00 6.70 0.30 7.70 0.00 0.78 Brazil Jun 1.88 8.00 6.70 0.50 12.10 2.70 1.78 Jul 2.18 8.00 6.70 0.50 12.10 2.70 2.08 China Jun 127.60 142.00 6.00 33.00 150.00 1.00 124.60 Jul 127.60 142.00 6.00 33.00 150.00 1.00 124.60 Japan Jun 1.10 1.10 5.45 0.70 6.20 0.31 1.14 Jul 1.10 1.10 5.45 0.70 6.20 0.31 1.14 N. Africa 7/ Jun 10.65 17.55 32.25 1.35 46.55 2.13 11.78 Jul 10.74 17.55 32.25 1.35 46.55 2.13 11.86 Nigeria Jun 0.68 0.13 6.40 0.00 6.20 0.40 0.61 Jul 0.68 0.13 6.40 0.00 6.20 0.40 0.61 Sel. Mideast 8/ Jun 13.14 20.28 19.68 2.78 40.21 1.00 11.88 Jul 12.94 19.78 20.20 2.78 40.38 1.00 11.54 Southeast Asia 9/ Jun 4.33 0.00 30.60 10.45 29.25 1.34 4.34 Jul 3.98 0.00 31.00 10.80 29.45 1.34 4.19 India Jun 12.00 117.51 0.25 6.50 113.00 0.25 16.51 Jul 12.00 117.51 0.25 6.50 112.51 0.25 17.00 Kazakhstan Jun 4.22 14.50 0.50 2.50 7.65 8.00 3.57 Jul 4.02 15.50 0.50 3.00 8.15 8.00 3.87 United Kingdom Jun 2.81 12.80 3.00 7.20 15.50 0.60 2.51 Jul 2.81 12.50 3.20 7.20 15.50 0.60 2.41 ================================================================================ WASDE - 662 - 20 July 2025 World Coarse Grain Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2023/24 World 3/ 337.46 1507.20 242.75 924.22 1497.41 236.16 347.26 World Less China 130.69 1209.82 194.65 678.42 1158.71 236.16 133.71 United States 37.14 402.88 2.64 152.01 331.42 63.37 47.87 Total Foreign 300.33 1104.32 240.11 772.21 1165.99 172.80 299.39 Major Exporters 4/ 30.57 322.45 6.86 137.43 195.15 142.25 22.49 Argentina 3.14 59.37 0.01 12.27 18.33 40.58 3.62 Australia 3.97 14.48 0.00 5.19 7.07 9.66 1.73 Brazil 10.77 124.81 2.64 67.85 90.63 38.37 9.22 Canada 3.72 27.52 2.95 16.27 24.44 6.08 3.68 Russia 2.32 42.54 0.10 20.94 29.99 13.27 1.71 Ukraine 3.95 39.78 0.01 7.77 10.20 32.02 1.52 Major Importers 5/ 37.35 231.57 144.64 272.63 360.09 14.66 38.81 European Union 6/ 16.53 137.04 22.11 110.21 148.71 11.52 15.46 Japan 1.45 0.25 16.67 13.23 16.92 0.00 1.44 Mexico 5.61 29.09 24.95 30.60 53.17 0.02 6.45 N. Afr & Mideast 7/ 7.02 34.01 37.76 59.61 68.00 2.52 8.28 Saudi Arabia 1.40 0.27 7.00 6.92 7.25 0.00 1.41 Southeast Asia 8/ 2.89 30.65 19.82 38.24 49.59 0.60 3.18 South Korea 1.91 0.16 11.67 9.30 11.68 0.00 2.06 Selected Other China 206.77 297.38 48.11 245.80 338.70 0.01 213.55 2024/25 Est. World 3/ 347.26 1505.86 221.48 943.56 1540.43 230.92 312.69 World Less China 133.71 1202.40 201.98 695.61 1200.18 230.90 116.44 United States 47.87 390.86 2.28 150.12 331.07 72.62 37.32 Total Foreign 299.39 1115.01 219.21 793.44 1209.36 158.31 275.37 Major Exporters 4/ 22.49 326.99 4.95 139.56 201.47 132.02 20.94 Argentina 3.62 59.10 0.01 13.89 20.20 38.70 3.82 Australia 1.73 17.34 0.00 5.14 7.01 10.45 1.60 Brazil 9.22 138.48 2.43 70.40 98.30 43.19 8.64 Canada 3.68 27.52 1.85 15.73 23.59 6.61 2.86 Russia 1.71 34.78 0.10 20.13 28.10 7.07 1.41 Ukraine 1.52 33.47 0.02 7.13 9.64 24.38 1.00 Major Importers 5/ 38.81 228.35 150.62 284.21 371.62 10.67 35.47 European Union 6/ 15.46 137.18 21.40 112.85 151.24 8.52 14.27 Japan 1.44 0.20 16.64 13.23 16.87 0.00 1.42 Mexico 6.45 28.27 25.93 31.73 54.36 0.02 6.27 N. Afr & Mideast 7/ 8.28 31.28 40.81 63.60 72.08 1.57 6.72 Saudi Arabia 1.41 0.27 8.71 8.62 8.96 0.00 1.43 Southeast Asia 8/ 3.18 30.88 21.06 40.35 51.71 0.56 2.84 South Korea 2.06 0.16 11.62 9.40 11.74 0.00 2.10 Selected Other China 213.55 303.47 19.50 247.95 340.25 0.03 196.25 ================================================================================ WASDE - 662 - 21 July 2025 World Coarse Grain Supply and Use 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2025/26 Proj. World 3/ Jun 313.90 1550.70 228.74 961.38 1562.20 238.38 302.39 Jul 312.69 1547.08 229.02 959.54 1560.63 237.79 299.14 World Less China Jun 115.65 1246.75 200.26 705.05 1213.58 238.35 120.37 Jul 116.44 1243.13 201.14 703.81 1212.60 237.77 119.12 United States Jun 37.88 415.98 2.21 153.42 334.21 74.44 47.42 Jul 37.32 412.72 2.31 152.44 333.24 73.81 45.30 Total Foreign Jun 276.01 1134.72 226.53 807.96 1228.00 163.94 254.97 Jul 275.37 1134.35 226.71 807.10 1227.38 163.99 253.84 Major Exporters 4/ Jun 19.59 334.82 5.37 141.98 205.43 137.48 16.88 Jul 20.94 334.82 5.17 141.58 206.13 137.28 17.53 Argentina Jun 3.92 61.62 0.01 13.34 19.63 41.90 4.02 Jul 3.82 61.62 0.01 13.34 19.63 41.80 4.02 Australia Jun 1.90 16.72 0.00 5.39 7.26 9.72 1.64 Jul 1.60 16.72 0.00 5.09 6.96 9.82 1.54 Brazil Jun 6.69 137.62 2.52 71.50 100.49 43.09 3.26 Jul 8.64 137.62 2.52 71.50 101.49 43.09 4.21 Canada Jun 3.03 27.06 2.59 16.15 24.01 5.69 2.98 Jul 2.86 27.56 2.39 16.25 24.21 5.79 2.81 Russia Jun 1.44 37.73 0.10 21.40 29.73 7.58 1.96 Jul 1.41 37.43 0.10 21.40 29.73 7.28 1.93 Ukraine Jun 1.00 37.04 0.01 6.98 9.42 27.58 1.05 Jul 1.00 36.84 0.01 6.78 9.22 27.58 1.05 Major Importers 5/ Jun 34.89 234.80 150.92 286.19 373.94 11.45 35.22 Jul 35.47 234.38 151.37 286.29 374.14 11.44 35.64 European Union 6/ Jun 14.23 141.33 21.73 114.20 153.09 10.09 14.11 Jul 14.27 141.13 21.73 114.00 152.89 10.09 14.14 Japan Jun 1.42 0.25 17.01 13.55 17.26 0.00 1.42 Jul 1.42 0.25 17.01 13.55 17.26 0.00 1.42 Mexico Jun 6.34 29.69 26.08 32.93 55.76 0.03 6.32 Jul 6.27 29.99 25.88 32.93 55.76 0.02 6.36 N. Afr & Mideast 7/ Jun 6.17 31.69 39.38 61.61 70.09 0.72 6.43 Jul 6.72 31.17 40.03 61.91 70.49 0.72 6.71 Saudi Arabia Jun 1.43 0.27 8.31 8.31 8.65 0.00 1.35 Jul 1.43 0.27 8.31 8.31 8.65 0.00 1.35 Southeast Asia 8/ Jun 2.77 31.31 22.18 41.68 52.53 0.61 3.12 Jul 2.84 31.31 22.18 41.68 52.53 0.61 3.19 South Korea Jun 2.10 0.16 11.61 9.39 11.78 0.00 2.10 Jul 2.10 0.16 11.61 9.39 11.78 0.00 2.10 China Jun 198.25 303.95 28.48 256.33 348.63 0.03 182.02 Jul 196.25 303.95 27.88 255.73 348.03 0.03 180.02 ================================================================================ WASDE - 662 - 22 July 2025 World Corn Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2023/24 World 3/ 305.61 1230.73 197.69 770.08 1220.65 192.57 315.69 World Less China 99.57 941.89 174.28 545.08 913.65 192.56 104.40 United States 34.55 389.67 0.72 148.41 322.87 57.28 44.79 Total Foreign 271.06 841.07 196.96 621.67 897.78 135.29 270.90 Major Exporters 4/ 18.67 232.53 2.72 93.54 128.02 112.89 13.02 Argentina 2.32 51.00 0.01 10.40 14.60 36.26 2.48 Brazil 10.04 119.00 1.72 62.50 84.00 38.27 8.49 Russia 0.91 16.60 0.05 9.10 10.20 6.60 0.76 South Africa 2.41 13.43 0.94 7.04 13.84 2.27 0.65 Ukraine 3.00 32.50 0.01 4.50 5.38 29.49 0.64 Major Importers 5/ 21.04 123.66 102.79 160.55 220.90 5.01 21.58 Egypt 1.51 7.20 8.02 12.80 15.30 0.00 1.43 European Union 6/ 8.02 61.95 19.83 58.30 78.10 4.39 7.31 Japan 1.30 0.01 15.29 12.00 15.30 0.00 1.30 Mexico 4.88 23.71 24.22 25.80 47.00 0.02 5.79 Southeast Asia 7/ 2.88 30.60 19.29 37.90 49.00 0.60 3.17 South Korea 1.90 0.09 11.55 9.25 11.50 0.00 2.04 Selected Other Canada 1.63 15.42 2.81 9.79 15.80 2.07 2.00 China 206.04 288.84 23.41 225.00 307.00 0.00 211.29 2024/25 Est. World 3/ 315.69 1225.30 182.87 784.19 1256.81 192.57 284.18 World Less China 104.40 930.38 177.87 550.19 940.81 192.55 89.00 United States 44.79 377.63 0.64 144.15 319.17 69.85 34.04 Total Foreign 270.90 847.66 182.24 640.04 937.64 122.72 250.14 Major Exporters 4/ 13.02 238.55 1.93 96.00 135.85 104.40 13.25 Argentina 2.48 50.00 0.01 10.80 15.20 34.50 2.78 Brazil 8.49 132.00 1.50 64.50 91.00 43.00 7.99 Russia 0.76 14.00 0.05 9.50 10.60 3.30 0.91 South Africa 0.65 15.75 0.35 7.00 13.90 1.60 1.25 Ukraine 0.64 26.80 0.02 4.20 5.15 22.00 0.31 Major Importers 5/ 21.58 120.45 105.35 164.10 224.36 2.98 20.04 Egypt 1.43 7.00 8.80 13.30 15.80 0.00 1.43 European Union 6/ 7.31 59.31 20.00 58.20 77.90 2.40 6.33 Japan 1.30 0.02 15.20 12.00 15.25 0.00 1.27 Mexico 5.79 23.10 25.00 26.90 48.20 0.02 5.67 Southeast Asia 7/ 3.17 30.83 20.45 39.95 51.06 0.56 2.83 South Korea 2.04 0.09 11.50 9.35 11.55 0.00 2.09 Selected Other Canada 2.00 15.35 1.70 9.20 14.70 2.75 1.59 China 211.29 294.92 5.00 234.00 316.00 0.02 195.18 ================================================================================ WASDE - 662 - 23 July 2025 World Corn Supply and Use 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2025/26 Proj. World 3/ Jun 285.04 1265.98 187.48 801.90 1275.79 195.82 275.24 Jul 284.18 1263.66 187.76 800.94 1275.76 195.81 272.08 World Less China Jun 87.86 970.98 177.48 562.90 954.79 195.80 94.07 Jul 89.00 968.66 177.76 561.94 954.76 195.79 92.92 United States Jun 34.68 401.85 0.64 149.87 324.75 67.95 44.46 Jul 34.04 398.93 0.64 148.60 323.48 67.95 42.17 Total Foreign Jun 250.36 864.14 186.85 652.04 951.03 127.87 230.78 Jul 250.14 864.74 187.12 652.35 952.27 127.86 229.91 Major Exporters 4/ Jun 11.25 246.00 1.67 99.20 140.23 109.50 9.19 Jul 13.25 246.00 1.67 99.20 141.23 109.50 10.19 Argentina Jun 2.78 53.00 0.01 11.20 15.60 37.00 3.19 Jul 2.78 53.00 0.01 11.20 15.60 37.00 3.19 Brazil Jun 5.99 131.00 1.60 65.50 93.00 43.00 2.59 Jul 7.99 131.00 1.60 65.50 94.00 43.00 3.59 Russia Jun 0.91 15.00 0.05 10.10 11.20 3.60 1.16 Jul 0.91 15.00 0.05 10.10 11.20 3.60 1.16 South Africa Jun 1.26 16.50 0.00 7.10 14.20 1.90 1.66 Jul 1.25 16.50 0.00 7.10 14.20 1.90 1.65 Ukraine Jun 0.31 30.50 0.01 5.30 6.23 24.00 0.60 Jul 0.31 30.50 0.01 5.30 6.23 24.00 0.60 Major Importers 5/ Jun 19.95 123.23 107.30 166.25 226.70 3.64 20.13 Jul 20.04 123.53 107.35 166.45 227.00 3.63 20.28 Egypt Jun 1.33 7.25 8.75 13.30 15.80 0.00 1.53 Jul 1.43 7.25 9.00 13.50 16.10 0.00 1.58 European Union 6/ Jun 6.33 60.00 20.50 57.70 77.80 3.00 6.03 Jul 6.33 60.00 20.50 57.70 77.80 3.00 6.03 Japan Jun 1.27 0.02 15.50 12.20 15.50 0.00 1.29 Jul 1.27 0.02 15.50 12.20 15.50 0.00 1.29 Mexico Jun 5.74 24.50 25.00 28.00 49.50 0.03 5.71 Jul 5.67 24.80 24.80 28.00 49.50 0.02 5.75 Southeast Asia 7/ Jun 2.76 31.26 21.50 41.20 51.80 0.61 3.11 Jul 2.83 31.26 21.50 41.20 51.80 0.61 3.18 South Korea Jun 2.09 0.10 11.50 9.35 11.60 0.00 2.08 Jul 2.09 0.10 11.50 9.35 11.60 0.00 2.08 Canada Jun 1.64 14.70 2.50 9.50 15.00 2.10 1.74 Jul 1.59 15.00 2.30 9.50 15.10 2.10 1.69 China Jun 197.18 295.00 10.00 239.00 321.00 0.02 181.16 Jul 195.18 295.00 10.00 239.00 321.00 0.02 179.16 ================================================================================ WASDE - 662 - 24 July 2025 World Rice Supply and Use (Milled Basis) 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Total 2/ Ending Stocks tion Imports Domestic Exports Stocks ================================================================================ 2023/24 World 3/ 180.82 523.65 53.39 524.62 56.79 179.84 World Less China 74.22 379.03 51.86 376.50 55.16 76.84 United States 0.96 6.92 1.41 4.88 3.15 1.27 Total Foreign 179.86 516.73 51.98 519.74 53.65 178.58 Major Exporters 4/ 46.11 207.19 3.77 165.20 42.67 49.21 Burma 1.11 12.30 0.01 10.00 2.80 0.62 India 35.00 137.83 0.00 116.40 14.43 42.00 Pakistan 2.03 9.87 0.01 4.00 6.53 1.39 Thailand 4.35 20.00 0.05 12.30 9.89 2.21 Vietnam 3.62 27.20 3.70 22.50 9.04 2.99 Major Importers 5/ 121.72 237.07 20.79 258.94 2.02 118.61 China 106.60 144.62 1.53 148.12 1.63 103.00 European Union 6/ 0.83 1.37 2.11 3.25 0.36 0.70 Indonesia 4.70 33.02 4.65 36.20 0.00 6.17 Nigeria 2.23 5.61 1.89 7.65 0.00 2.07 Philippines 3.38 12.33 4.50 16.80 0.00 3.40 Sel. Mideast 7/ 1.22 2.02 4.64 6.58 0.00 1.30 Selected Other Brazil 0.62 7.20 0.96 7.10 0.97 0.71 C. Amer & Carib 8/ 0.61 1.40 1.87 3.25 0.06 0.58 Egypt 0.60 3.78 0.18 4.05 0.06 0.45 Japan 1.81 7.30 0.72 8.15 0.09 1.60 Mexico 0.12 0.15 0.85 0.99 0.02 0.12 South Korea 1.43 3.70 0.40 4.19 0.13 1.21 2024/25 Est. World 3/ 179.84 541.51 58.47 533.73 62.19 187.62 World Less China 76.84 396.23 56.07 387.71 61.04 84.12 United States 1.27 7.05 1.54 5.40 2.97 1.49 Total Foreign 178.58 534.46 56.93 528.33 59.22 186.13 Major Exporters 4/ 49.21 219.15 4.07 171.35 47.30 53.77 Burma 0.62 11.90 0.01 10.10 1.60 0.83 India 42.00 150.00 0.00 122.00 25.00 45.00 Pakistan 1.39 9.75 0.01 4.10 5.80 1.25 Thailand 2.21 20.55 0.05 12.50 7.00 3.31 Vietnam 2.99 26.95 4.00 22.65 7.90 3.39 Major Importers 5/ 118.61 240.01 22.06 258.73 1.59 120.36 China 103.00 145.28 2.40 146.03 1.15 103.50 European Union 6/ 0.70 1.60 2.35 3.40 0.40 0.84 Indonesia 6.17 34.60 0.60 35.90 0.00 5.47 Nigeria 2.07 5.77 2.90 7.90 0.00 2.84 Philippines 3.40 12.35 5.55 17.50 0.00 3.80 Sel. Mideast 7/ 1.30 2.28 4.95 6.90 0.00 1.62 Selected Other Brazil 0.71 8.20 0.85 7.20 1.28 1.29 C. Amer & Carib 8/ 0.58 1.51 2.05 3.41 0.10 0.64 Egypt 0.45 3.90 0.18 4.10 0.08 0.35 Japan 1.60 7.29 0.78 8.18 0.09 1.40 Mexico 0.12 0.17 0.88 1.01 0.02 0.14 South Korea 1.21 3.59 0.41 3.88 0.17 1.15 ================================================================================ WASDE - 662 - 25 July 2025 World Rice Supply and Use (Milled Basis) 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Total 2/ Ending Stocks tion Imports Domestic Exports Stocks ================================================================================ 2025/26 Proj. World 3/ Jun 187.33 541.58 58.87 541.07 61.71 187.83 Jul 187.62 541.27 58.98 541.62 61.75 187.28 World Less China Jun 83.83 395.58 56.42 395.02 60.81 82.83 Jul 84.12 395.27 56.38 394.92 60.85 82.78 United States Jun 1.44 6.81 1.61 5.37 3.02 1.48 Jul 1.49 6.51 1.61 5.24 2.95 1.42 Total Foreign Jun 185.88 534.77 57.26 535.71 58.70 186.35 Jul 186.13 534.76 57.37 536.38 58.80 185.86 Major Exporters 4/ Jun 53.87 219.50 4.17 176.30 46.90 54.33 Jul 53.77 219.50 4.17 176.30 47.00 54.13 Burma Jun 0.93 12.00 0.01 10.20 1.50 1.23 Jul 0.83 12.00 0.01 10.20 1.60 1.03 India Jun 45.00 151.00 0.00 126.50 25.00 44.50 Jul 45.00 151.00 0.00 126.50 25.00 44.50 Pakistan Jun 1.25 9.80 0.01 4.20 5.30 1.56 Jul 1.25 9.80 0.01 4.20 5.30 1.56 Thailand Jun 3.31 20.40 0.05 12.65 7.20 3.91 Jul 3.31 20.40 0.05 12.65 7.20 3.91 Vietnam Jun 3.39 26.30 4.10 22.75 7.90 3.14 Jul 3.39 26.30 4.10 22.75 7.90 3.14 Major Importers 5/ Jun 120.20 240.18 21.60 259.85 1.37 120.77 Jul 120.36 240.18 21.65 260.50 1.37 120.33 China Jun 103.50 146.00 2.45 146.05 0.90 105.00 Jul 103.50 146.00 2.60 146.70 0.90 104.50 European Union 6/ Jun 0.84 1.77 2.20 3.55 0.43 0.84 Jul 0.84 1.77 2.20 3.55 0.43 0.84 Indonesia Jun 5.47 33.60 0.80 35.50 0.00 4.37 Jul 5.47 33.60 0.80 35.50 0.00 4.37 Nigeria Jun 2.84 5.23 3.10 8.10 0.00 3.06 Jul 2.84 5.23 3.00 8.10 0.00 2.96 Philippines Jun 3.65 12.30 5.40 17.70 0.00 3.65 Jul 3.80 12.30 5.40 17.70 0.00 3.80 Sel. Mideast 7/ Jun 1.62 2.23 5.05 7.25 0.00 1.65 Jul 1.62 2.23 5.05 7.25 0.00 1.65 Brazil Jun 1.29 7.60 0.85 7.30 1.30 1.14 Jul 1.29 7.60 0.85 7.30 1.30 1.14 C. Amer & Carib 8/ Jun 0.63 1.52 2.04 3.48 0.08 0.63 Jul 0.64 1.52 2.04 3.48 0.08 0.64 Egypt Jun 0.38 3.90 0.18 4.15 0.05 0.25 Jul 0.35 3.90 0.18 4.15 0.05 0.23 Japan Jun 1.40 7.28 0.69 8.00 0.10 1.27 Jul 1.40 7.28 0.69 8.00 0.10 1.27 Mexico Jun 0.14 0.17 0.90 1.02 0.01 0.18 Jul 0.14 0.18 0.90 1.02 0.01 0.19 South Korea Jun 1.15 3.54 0.41 3.81 0.20 1.09 Jul 1.15 3.54 0.41 3.81 0.20 1.09 ================================================================================ WASDE - 662 - 26 July 2025 World Cotton Supply and Use 1/ (Million 480-Pound Bales) ================================================================================ Supply Use Region Beginning Produc- Loss Ending Stocks tion Imports Domestic Exports 2/ Stocks ================================================================================ 2023/24 World 75.90 112.96 44.05 114.80 44.59 -0.21 73.74 World Less China 42.55 85.61 29.08 75.90 44.53 -0.21 37.02 United States 4.65 12.07 3/ 1.85 11.75 -0.03 3.15 Total Foreign 71.25 100.90 44.05 112.95 32.84 -0.18 70.59 Major Exporters 4/ 27.28 57.95 1.63 34.36 28.27 -0.18 24.40 Central Asia 5/ 3.66 5.02 0.05 3.89 1.66 0.00 3.18 Afr. Fr. Zone 6/ 0.96 5.02 3/ 0.10 4.59 0.00 1.30 S. Hemis. 7/ 11.37 22.03 0.15 4.21 19.25 -0.18 10.27 Australia 4.81 5.00 3/ 0.00 5.74 -0.18 4.24 Brazil 4.01 14.57 0.01 3.16 12.31 0.00 3.11 India 10.82 25.40 0.89 25.50 2.31 0.00 9.30 Major Importers 8/ 41.77 39.61 39.96 74.49 2.99 0.00 43.86 Mexico 0.38 0.87 0.70 1.50 0.20 0.00 0.24 China 33.36 27.35 14.98 38.90 0.06 0.00 36.72 European Union 9/ 0.39 1.04 0.47 0.51 1.13 0.00 0.26 Turkey 2.63 3.19 3.57 6.60 1.39 0.00 1.40 Pakistan 1.53 7.00 3.20 9.70 0.18 0.00 1.85 Indonesia 0.36 3/ 1.85 1.80 0.01 0.00 0.40 Thailand 0.14 3/ 0.40 0.45 0.00 0.00 0.09 Bangladesh 1.73 0.16 7.58 7.75 0.00 0.00 1.71 Vietnam 1.05 3/ 6.59 6.60 0.00 0.00 1.03 2024/25 Est. World 73.74 119.90 42.61 116.70 42.99 -0.22 76.78 World Less China 37.02 87.90 37.41 79.70 42.92 -0.22 39.94 United States 3.15 14.41 0.01 1.70 11.80 -0.03 4.10 Total Foreign 70.59 105.49 42.61 115.00 31.19 -0.19 72.68 Major Exporters 4/ 24.40 58.86 4.09 34.64 26.74 -0.19 26.17 Central Asia 5/ 3.18 5.09 0.10 4.06 1.44 0.00 2.87 Afr. Fr. Zone 6/ 1.30 4.61 3/ 0.10 4.40 0.00 1.41 S. Hemis. 7/ 10.27 24.57 0.14 4.35 19.11 -0.19 11.72 Australia 4.24 5.60 3/ 0.00 5.10 -0.19 4.93 Brazil 3.11 17.00 0.01 3.30 13.00 0.00 3.82 India 9.30 24.00 2.85 25.00 1.40 0.00 9.75 Major Importers 8/ 43.86 43.25 35.64 75.75 2.88 0.00 44.13 Mexico 0.24 0.90 0.65 1.40 0.15 0.00 0.24 China 36.72 32.00 5.20 37.00 0.08 0.00 36.84 European Union 9/ 0.26 1.24 0.45 0.50 1.23 0.00 0.23 Turkey 1.40 3.95 4.30 7.00 1.35 0.00 1.30 Pakistan 1.85 5.00 6.10 10.80 0.05 0.00 2.10 Indonesia 0.40 3/ 1.85 1.85 0.02 0.00 0.38 Thailand 0.09 3/ 0.48 0.48 0.00 0.00 0.09 Bangladesh 1.71 0.15 8.20 8.30 0.00 0.00 1.76 Vietnam 1.03 3/ 7.80 7.80 0.00 0.00 1.04 ================================================================================ WASDE - 662 - 27 July 2025 World Cotton Supply and Use 1/ (Million 480-Pound Bales) ================================================================================ Supply Use Region Beginning Produc- Loss Ending Stocks tion Imports Domestic Exports 2/ Stocks ================================================================================ 2025/26 Proj. World Jun 77.29 116.99 44.82 117.76 44.79 -0.25 76.80 Jul 76.78 118.42 44.68 118.12 44.69 -0.25 77.32 World Less China Jun 40.17 86.99 38.32 81.26 44.69 -0.25 39.78 Jul 39.94 87.42 38.88 81.62 44.61 -0.25 40.25 United States Jun 4.40 14.00 0.01 1.70 12.50 -0.10 4.30 Jul 4.10 14.60 0.01 1.70 12.50 -0.10 4.60 Total Foreign Jun 72.89 102.99 44.81 116.06 32.29 -0.15 72.50 Jul 72.68 103.82 44.68 116.42 32.19 -0.15 72.72 Major Exporters 4/ Jun 26.12 58.72 4.45 35.52 28.23 -0.15 25.68 Jul 26.17 58.65 4.45 35.52 28.18 -0.15 25.71 Central Asia 5/ Jun 2.87 5.10 0.20 4.08 1.44 0.00 2.65 Jul 2.87 5.10 0.20 4.08 1.44 0.00 2.65 Afr. Fr. Zone 6/ Jun 1.41 4.83 3/ 0.11 4.83 0.00 1.31 Jul 1.41 4.83 3/ 0.11 4.83 0.00 1.31 S. Hemis. 7/ Jun 11.72 24.81 0.15 4.56 20.61 -0.15 11.65 Jul 11.72 24.81 0.15 4.56 20.61 -0.15 11.65 Australia Jun 4.93 4.10 3/ 0.00 5.00 -0.15 4.18 Jul 4.93 4.10 3/ 0.00 5.00 -0.15 4.18 Brazil Jun 3.82 18.25 0.01 3.50 14.30 0.00 4.27 Jul 3.82 18.25 0.01 3.50 14.30 0.00 4.27 India Jun 9.70 23.50 3.00 25.50 1.00 0.00 9.70 Jul 9.75 23.50 3.00 25.50 1.00 0.00 9.75 Major Importers 8/ Jun 44.39 40.94 37.23 75.72 2.52 0.00 44.32 Jul 44.13 41.84 37.09 76.08 2.47 0.00 44.51 Mexico Jun 0.22 0.70 0.60 1.25 0.10 0.00 0.17 Jul 0.24 0.80 0.60 1.35 0.10 0.00 0.19 China Jun 37.12 30.00 6.50 36.50 0.10 0.00 37.02 Jul 36.84 31.00 5.80 36.50 0.08 0.00 37.07 European Union 9/ Jun 0.29 1.28 0.51 0.55 1.24 0.00 0.28 Jul 0.23 1.28 0.47 0.51 1.22 0.00 0.25 Turkey Jun 1.35 3.60 4.80 7.30 1.00 0.00 1.45 Jul 1.30 3.60 4.80 7.30 1.00 0.00 1.40 Pakistan Jun 2.00 5.20 5.30 10.60 0.05 0.00 1.85 Jul 2.10 5.00 5.90 10.90 0.05 0.00 2.05 Indonesia Jun 0.38 3/ 2.00 2.00 0.02 0.00 0.37 Jul 0.38 3/ 2.00 2.00 0.02 0.00 0.37 Thailand Jun 0.09 3/ 0.50 0.50 0.00 0.00 0.09 Jul 0.09 3/ 0.50 0.50 0.00 0.00 0.09 Bangladesh Jun 1.76 0.15 8.40 8.40 0.00 0.00 1.92 Jul 1.76 0.15 8.40 8.40 0.00 0.00 1.92 Vietnam Jun 1.04 3/ 8.00 8.00 0.00 0.00 1.04 Jul 1.04 3/ 8.00 8.00 0.00 0.00 1.04 ================================================================================ WASDE - 662 - 28 July 2025 World Soybean Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic Ending Stocks tion Imports Crush Total Exports Stocks ================================================================================ 2023/24 World 2/ 101.78 396.93 178.10 331.01 383.69 177.81 115.31 World Less China 69.44 376.09 66.10 232.01 261.89 177.74 72.00 United States 7.19 113.27 0.57 62.20 65.44 46.27 9.32 Total Foreign 94.59 283.66 177.53 268.81 318.25 131.54 105.99 Major Exporters 3/ 54.28 217.00 8.67 94.14 105.49 120.00 54.46 Argentina 17.00 48.21 7.79 36.58 43.83 5.11 24.05 Brazil 36.82 154.50 0.87 54.41 58.26 104.17 29.76 Paraguay 0.37 11.00 0.01 3.00 3.10 7.99 0.29 Major Importers 4/ 35.03 24.57 144.11 126.74 157.15 0.35 46.20 China 32.34 20.84 112.00 99.00 121.80 0.07 43.31 European Union 1.26 2.81 13.46 14.50 16.00 0.25 1.28 Southeast Asia 5/ 0.68 0.47 9.09 4.35 9.40 0.02 0.83 Mexico 0.56 0.20 6.46 6.53 6.60 0.01 0.62 2024/25 Est. World 2/ 115.31 422.00 177.59 353.15 409.04 180.73 125.12 World Less China 72.00 401.35 71.09 250.15 282.14 180.65 81.64 United States 9.32 118.84 0.68 65.86 68.55 50.76 9.53 Total Foreign 105.99 303.16 176.91 287.29 340.49 129.97 115.59 Major Exporters 3/ 54.46 232.40 7.08 102.35 114.28 118.00 61.67 Argentina 24.05 49.90 6.50 42.10 49.60 6.10 24.75 Brazil 29.76 169.00 0.55 57.00 61.10 102.10 36.11 Paraguay 0.29 10.20 0.02 3.10 3.28 6.80 0.43 Major Importers 4/ 46.20 24.56 141.16 132.28 164.11 0.50 47.31 China 43.31 20.65 106.50 103.00 126.90 0.08 43.48 European Union 1.28 2.92 14.60 15.00 16.52 0.40 1.88 Southeast Asia 5/ 0.83 0.45 10.36 5.10 10.42 0.01 1.20 Mexico 0.62 0.27 6.40 6.65 6.74 0.01 0.54 2025/26 Proj. World 2/ Jun 124.20 426.82 186.86 366.59 424.15 188.43 125.30 Jul 125.12 427.68 186.06 367.71 425.17 187.63 126.07 World Less China Jun 79.22 405.82 74.86 258.59 291.15 188.33 80.42 Jul 81.64 406.68 74.06 259.71 292.17 187.53 82.69 United States Jun 9.53 118.12 0.54 67.77 70.76 49.40 8.03 Jul 9.53 117.98 0.54 69.13 72.12 47.49 8.44 Total Foreign Jun 114.68 308.70 186.32 298.82 353.39 139.04 117.27 Jul 115.59 309.70 185.52 298.58 353.05 140.14 117.63 Major Exporters 3/ Jun 58.99 237.60 7.38 104.27 116.42 127.00 60.55 Jul 61.67 237.60 7.38 104.27 116.42 127.50 62.73 Argentina Jun 24.75 48.50 7.20 43.00 50.50 4.50 25.45 Jul 24.75 48.50 7.20 43.00 50.50 5.00 24.95 Brazil Jun 33.44 175.00 0.15 58.00 62.30 112.00 34.29 Jul 36.11 175.00 0.15 58.00 62.30 112.00 36.96 Paraguay Jun 0.43 11.00 0.02 3.10 3.30 7.70 0.45 Jul 0.43 11.00 0.02 3.10 3.30 7.70 0.45 Major Importers 4/ Jun 49.11 24.89 147.60 138.76 171.76 0.43 49.40 Jul 47.31 24.89 147.30 138.56 171.56 0.43 47.50 China Jun 44.98 21.00 112.00 108.00 133.00 0.10 44.88 Jul 43.48 21.00 112.00 108.00 133.00 0.10 43.38 European Union Jun 1.88 2.95 14.30 15.30 16.82 0.30 2.01 Jul 1.88 2.95 14.30 15.30 16.82 0.30 2.01 Southeast Asia 5/ Jun 1.20 0.42 11.00 5.91 11.31 0.02 1.30 Jul 1.20 0.42 11.00 5.91 11.31 0.02 1.30 Mexico Jun 0.84 0.27 7.00 7.00 7.09 0.01 1.01 Jul 0.54 0.27 6.70 6.80 6.89 0.01 0.62 ================================================================================ WASDE - 662 - 29 July 2025 World Soybean Meal Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Stocks tion Imports Domestic Exports Stocks Region Beginning Produc- Total Exports Ending ================================================================================ 2023/24 World 2/ 14.30 259.56 69.74 254.69 74.14 14.76 World Less China 13.36 181.15 69.71 177.54 72.71 13.97 United States 0.34 49.08 0.62 35.07 14.56 0.41 Total Foreign 13.96 210.48 69.12 219.62 59.58 14.35 Major Exporters 3/ 6.52 79.14 0.05 30.58 49.58 5.56 Argentina 2.30 28.54 0.00 3.50 24.89 2.44 Brazil 4.03 41.57 0.02 20.00 22.72 2.89 India 0.20 9.04 0.03 7.08 1.97 0.22 Major Importers 4/ 1.61 21.78 38.58 58.79 0.87 2.30 European Union 0.47 11.46 16.54 26.94 0.65 0.87 Mexico 0.15 5.16 1.94 7.08 0.00 0.16 Southeast Asia 5/ 0.95 3.39 18.29 21.25 0.22 1.16 China 0.94 78.41 0.03 77.15 1.43 0.79 2024/25 Est. World 2/ 14.76 277.31 76.91 270.97 80.15 17.86 World Less China 13.97 195.73 76.86 190.52 79.15 16.89 United States 0.41 51.98 0.66 36.85 15.79 0.41 Total Foreign 14.35 225.33 76.25 234.12 64.36 17.45 Major Exporters 3/ 5.56 85.63 0.15 31.08 53.90 6.35 Argentina 2.44 32.84 0.09 3.50 29.10 2.77 Brazil 2.89 43.99 0.01 20.50 23.00 3.39 India 0.22 8.80 0.05 7.08 1.80 0.20 Major Importers 4/ 2.30 22.99 42.86 63.86 1.04 3.24 European Union 0.87 11.85 18.80 29.54 0.70 1.28 Mexico 0.16 5.26 2.30 7.43 0.00 0.28 Southeast Asia 5/ 1.16 3.98 20.13 23.39 0.34 1.53 China 0.79 81.58 0.05 80.45 1.00 0.97 2025/26 Proj. World 2/ Jun 17.69 287.73 77.70 283.52 81.23 18.37 Jul 17.86 288.58 78.45 284.36 81.96 18.57 World Less China Jun 16.72 202.19 77.65 199.37 80.03 17.16 Jul 16.89 203.04 78.40 200.21 80.76 17.36 United States Jun 0.41 53.25 0.59 37.49 16.33 0.43 Jul 0.41 54.30 0.59 37.90 16.96 0.43 Total Foreign Jun 17.29 234.48 77.11 246.03 64.90 17.94 Jul 17.45 234.28 77.86 246.46 65.00 18.14 Major Exporters 3/ Jun 6.32 87.40 0.07 32.75 54.60 6.44 Jul 6.35 87.24 0.07 32.59 54.60 6.47 Argentina Jun 2.74 33.54 0.01 3.60 30.00 2.69 Jul 2.77 33.54 0.01 3.60 30.00 2.72 Brazil Jun 3.39 44.78 0.01 21.50 23.20 3.47 Jul 3.39 44.78 0.01 21.50 23.20 3.47 India Jun 0.20 9.08 0.05 7.65 1.40 0.28 Jul 0.20 8.92 0.05 7.49 1.40 0.28 Major Importers 4/ Jun 3.24 24.14 41.80 64.94 0.88 3.36 Jul 3.24 23.98 42.05 65.03 0.88 3.36 European Union Jun 1.28 12.09 17.10 28.84 0.60 1.02 Jul 1.28 12.09 17.10 28.84 0.60 1.02 Mexico Jun 0.28 5.53 2.40 7.88 0.00 0.34 Jul 0.28 5.37 2.55 7.88 0.00 0.33 Southeast Asia 5/ Jun 1.53 4.60 20.50 24.51 0.28 1.85 Jul 1.53 4.60 20.60 24.60 0.28 1.86 China Jun 0.97 85.54 0.05 84.15 1.20 1.21 Jul 0.97 85.54 0.05 84.15 1.20 1.21 ================================================================================ WASDE - 662 - 30 July 2025 World Soybean Oil Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Stocks tion Imports Domestic Exports Stocks Region Beginning Produc- Total Exports Ending ================================================================================ 2023/24 World 2/ 5.86 63.96 10.56 62.88 11.81 5.70 World Less China 4.85 45.15 10.18 43.98 11.71 4.50 United States 0.73 12.29 0.28 12.32 0.28 0.70 Total Foreign 5.13 51.68 10.28 50.56 11.53 4.99 Major Exporters 3/ 1.97 21.63 0.67 14.68 8.04 1.55 Argentina 0.72 7.25 0.00 1.77 5.53 0.67 Brazil 0.59 11.06 0.08 10.20 1.35 0.18 European Union 0.57 2.76 0.59 2.63 0.66 0.62 Major Importers 4/ 1.93 22.14 5.41 26.98 0.26 2.24 China 1.01 18.81 0.38 18.90 0.10 1.20 India 0.60 2.03 3.31 5.18 0.02 0.75 North Africa 5/ 0.30 0.93 1.15 1.97 0.14 0.27 2024/25 Est. World 2/ 5.70 68.36 13.26 66.99 14.18 6.16 World Less China 4.50 48.79 13.01 46.99 13.98 5.34 United States 0.70 13.06 0.18 12.11 1.18 0.66 Total Foreign 4.99 55.30 13.08 54.88 13.00 5.50 Major Exporters 3/ 1.55 23.42 0.77 14.82 9.33 1.59 Argentina 0.67 8.40 0.04 1.98 6.45 0.68 Brazil 0.18 11.58 0.08 10.11 1.43 0.30 European Union 0.62 2.85 0.65 2.66 0.90 0.57 Major Importers 4/ 2.24 23.01 7.53 30.03 0.30 2.44 China 1.20 19.57 0.25 20.00 0.20 0.82 India 0.75 1.98 5.10 6.62 0.02 1.20 North Africa 5/ 0.27 1.06 1.33 2.23 0.08 0.34 2025/26 Proj. World 2/ Jun 6.13 70.79 12.58 69.26 13.74 6.50 Jul 6.16 71.02 12.03 70.02 13.21 5.97 World Less China Jun 5.31 50.27 12.18 48.46 13.64 5.67 Jul 5.34 50.50 11.63 49.22 13.11 5.13 United States Jun 0.66 13.33 0.14 12.66 0.77 0.69 Jul 0.66 13.59 0.20 13.38 0.32 0.76 Total Foreign Jun 5.47 57.47 12.45 56.61 12.97 5.81 Jul 5.50 57.42 11.83 56.64 12.90 5.21 Major Exporters 3/ Jun 1.57 23.86 0.70 15.12 9.34 1.67 Jul 1.59 23.86 0.70 15.22 9.24 1.68 Argentina Jun 0.67 8.58 0.01 1.98 6.60 0.67 Jul 0.68 8.58 0.01 1.98 6.60 0.68 Brazil Jun 0.30 11.79 0.04 10.35 1.40 0.37 Jul 0.30 11.79 0.04 10.45 1.30 0.37 European Union Jun 0.57 2.91 0.65 2.71 0.85 0.57 Jul 0.57 2.91 0.65 2.71 0.85 0.57 Major Importers 4/ Jun 2.44 24.26 7.07 30.98 0.25 2.55 Jul 2.44 24.22 6.52 30.98 0.25 1.96 China Jun 0.82 20.52 0.40 20.80 0.10 0.84 Jul 0.82 20.52 0.40 20.80 0.10 0.84 India Jun 1.20 2.04 4.60 6.55 0.02 1.28 Jul 1.20 2.01 4.10 6.55 0.02 0.74 North Africa 5/ Jun 0.34 1.26 1.32 2.44 0.13 0.36 Jul 0.34 1.26 1.27 2.44 0.13 0.31 ================================================================================ WASDE - 662 - 31 July 2025 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 2024 III 6782 6776 13600 12004 1282 13435 27035 2245 56.1 IV 6882 7207 14133 11905 1264 13302 27435 2269 55.5 Annual 26984 27789 54947 46994 5121 52677 107625 9017 225.9 2025 I 6543 6956 13540 11565 1146 12829 26369 2114 56.8 II 6450 6740 13233 11850 1175 13145 26378 2105 58.3 III* 6590 6905 13535 12200 1225 13555 27090 2160 56.9 IV* 6605 7440 14087 12075 1250 13450 27537 2235 56.4 JunProj. 26358 27996 54520 47580 4806 52894 107414 8649 227.8 JulProj. 26188 28041 54394 47690 4796 52979 107373 8614 228.3 2026 I* 6360 7045 13444 11800 1215 13145 26589 2225 57.3 II* 6460 6865 13364 11900 1250 13285 26649 2275 58.4 JunProj. 25275 28370 53804 48100 5080 53725 107529 9175 228.2 JulProj. 25815 28480 54454 48100 5080 53725 108179 9175 229.1 ================================================================================ U.S. Quarterly Prices for Animal Products ================================================================================ Year Barrows and Streers and gilts Broilers Turkeys Eggs Milk quarter 2/ 3/ 4/ 5/ 6/ 7/ ================================================================================ Dol./cwt Dol./cwt Cents/lb. Cents/lb. Cents/doz. Dol./cwt 2024 III 189.26 65.67 127.4 93.3 317.2 23.97 IV 189.75 62.89 130.0 93.6 409.5 24.20 Annual 187.12 63.41 129.4 93.7 303.1 22.55 2025 I 205.02 63.59 130.8 94.8 675.3 23.23 II 225.22 69.69 135.9 119.3 344.4 20.60 III* 226.00 76.00 135.0 130.0 300.0 21.40 IV* 229.00 65.00 134.0 130.0 335.0 22.70 JunProj. 221.51 67.40 133.7 116.0 405.1 21.95 JulProj. 221.31 68.57 133.9 118.5 413.7 22.00 2026 I* 227.00 64.00 134.0 115.0 250.0 22.00 II* 228.00 68.00 138.0 120.0 200.0 21.10 JunProj. 229 64 136 121 216 21.30 JulProj. 229 65 136 121 216 21.65 ================================================================================ WASDE - 662 - 32 July 2025 U.S. Meats Supply and Use ================================================================================ Disappearance Beg- Produc- Per Item inning tion Total Ending capita stocks 1/ Imports Supply Exports stocks Total 2/ 3/ ================================================================================ Million Pounds 4/ Beef 2024 638 27051 4635 32324 3007 602 28714 59.1 2025 Proj. Jun 602 26425 5187 32213 2708 570 28935 59.2 Jul 602 26255 5377 32233 2728 580 28925 59.1 2026 Proj. Jun 570 25342 5025 30937 2470 550 27917 56.8 Jul 580 25882 5350 31812 2565 570 28677 58.4 Pork 2024 471 27804 1148 29422 7125 435 21862 49.9 2025 Proj. Jun 435 28011 1105 29551 6948 425 22178 50.3 Jul 435 28056 1115 29606 6973 425 22208 50.3 2026 Proj. Jun 425 28384 1140 29949 7000 435 22514 50.8 Jul 425 28494 1140 30059 7000 435 22624 51.1 TotalRed Meat5/ 2024 1130 55038 6148 62316 10137 1058 51121 110.4 2025 Proj. Jun 1058 54611 6635 62304 9662 1016 51626 110.8 Jul 1058 54485 6835 62378 9707 1026 51645 110.8 2026 Proj. Jun 1016 53895 6510 61421 9475 1006 50940 109.0 Jul 1026 54545 6835 62406 9570 1026 51810 110.8 Broiler 2024 835 46491 150 47475 6680 761 40034 101.1 2025 Proj. Jun 761 47071 149 47981 6588 775 40618 101.9 Jul 761 47180 149 48090 6473 765 40852 102.5 2026 Proj. Jun 775 47585 140 48500 6670 780 41050 102.6 Jul 765 47585 140 48490 6610 780 41100 102.7 Turkey 2024 243 5121 37 5401 486 219 4697 13.8 2025 Proj. Jun 219 4806 31 5056 405 195 4455 13.0 Jul 219 4796 34 5049 405 190 4453 13.0 2026 Proj. Jun 195 5080 28 5303 435 210 4658 13.5 Jul 190 5080 28 5298 435 210 4653 13.5 Total Poultry6/ 2024 1085 52174 190 53449 7187 985 45277 116.5 2025 Proj. Jun 985 52384 181 53551 7023 975 45552 116.3 Jul 985 52468 184 53638 6911 960 45766 116.9 2026 Proj. Jun 975 53210 170 54355 7129 996 46230 117.6 Jul 960 53210 170 54340 7073 996 46271 117.7 RedMeat& Poultry 2024 2215 107212 6338 115765 17324 2043 96398 226.9 2025 Proj. Jun 2043 106995 6816 115854 16685 1991 97178 227.1 Jul 2043 106954 7019 116015 16618 1986 97411 227.7 2026 Proj. Jun 1991 107105 6680 115775 16604 2002 97170 226.6 Jul 1986 107755 7005 116745 16643 2022 98081 228.5 ================================================================================ WASDE - 662 - 33 July 2025 U.S. Egg Supply and Use ================================================================================ 2023 2024 2025Proj. 2025Proj. 2026Proj. 2026Proj. Commodity Jun Jul Jun Jul ================================================================================ Million Dozen Eggs Supply BeginningStocks 18.8 23.1 14.2 14.2 18.0 17.0 Production 9150.3 9016.6 8649.5 8614.5 9175.0 9175.0 Imports 27.5 30.1 123.7 123.7 70.0 70.0 Total Supply 9196.5 9069.8 8787.4 8752.4 9263.0 9262.0 Use Exports 250.5 236.7 187.2 187.2 220.0 220.0 Hatching Use 1120.4 1148.2 1157.4 1162.4 1160.0 1160.0 Ending Stocks 23.1 14.2 18.0 17.0 22.0 21.0 Disappearance Total 7802.5 7670.7 7424.8 7385.8 7861.0 7861.0 Per Capita (number) 277.7 270.6 260.3 258.9 274.4 274.4 ================================================================================ U.S. Milk Supply and Use ================================================================================ 2023 2024 2025Proj. 2025Proj. 2026Proj. 2026Proj. Commodity Jun Jul Jun Jul ================================================================================ Billion Pounds Milk Production 226.3 225.9 227.8 228.3 228.2 229.1 Farm Use 1.0 1.0 1.0 1.0 1.0 1.0 FatBasisSupply BeginningStocks 14.4 13.8 13.1 13.1 12.1 12.1 Marketings 225.3 224.9 226.8 227.3 227.2 228.1 Imports 7.4 9.1 8.6 8.5 8.7 8.9 Total Supply 247.1 247.8 248.5 249.0 248.0 249.1 FatBasisUse Exports 10.5 11.8 13.6 13.8 12.4 12.6 Ending Stocks 13.8 13.1 12.1 12.1 12.1 11.9 Domestic Use 222.8 222.8 222.8 223.0 223.5 224.6 Skim-solidBasisSupply BeginningStocks 11.7 9.8 9.4 9.4 11.5 11.5 Marketings 225.3 224.9 226.8 227.3 227.2 228.1 Imports 6.3 6.8 6.8 6.9 7.1 7.0 Total Supply 243.3 241.5 243.1 243.6 245.8 246.6 Skim-solidBasisUse Exports 49.9 48.9 44.9 45.3 46.5 46.7 Ending Stocks 9.8 9.4 11.5 11.5 11.1 11.4 Domestic Use 183.6 183.2 186.7 186.8 188.2 188.5 ================================================================================ WASDE - 662 - 34 July 2025 U.S. Dairy Prices ================================================================================ Commod- 2023 2024 2025 Proj. 2025 Proj. 2026 Proj. 2026 Proj. ity Jun Jul Jun Jul ================================================================================ Dollars Per Pound Product Prices 1/ Cheese 1.7593 1.8634 1.860 1.840 1.810 1.810 Butter 2.6170 2.8870 2.535 2.560 2.480 2.535 Nonfat Dry Milk 1.1856 1.2420 1.250 1.260 1.215 1.235 Dry Whey 0.3618 0.4913 0.565 0.575 0.510 0.515 Milk Prices 2/ Dollars Per Cwt ClassIII 17.02 18.89 18.65 18.50 17.80 17.85 Class IV 19.12 20.75 18.85 19.05 18.20 18.60 All Milk 3/ 20.34 22.55 21.95 22.00 21.30 21.65 ================================================================================ WASDE - 662 - 35 July 2025 Reliability of July Projections 1/ ================================================================================ Differences between forecast and final estimate 90 percent Years Commodity and Root mean Confidence Below Above Region square error interval Average Smallest Largest Final Final ================================================================================ Million Metric Tons WHEAT Production World 2.7 4.5 13.7 1.0 34.6 26 18 U.S. 3.6 6.1 1.6 0.0 6.2 20 24 Foreign 2.9 4.9 13.5 0.3 34.7 27 17 Exports World 5.8 9.7 6.6 0.2 18.7 29 15 U.S. 11.0 18.6 2.5 0.1 10.0 23 21 Foreign 7.1 11.9 6.4 0.1 21.3 30 14 Domestic Use World 2.0 3.3 9.3 0.3 30.0 27 17 U.S. 6.9 11.5 1.7 0.0 5.0 16 28 Foreign 2.0 3.3 9.0 0.1 29.8 30 14 Ending Stocks World 9.2 15.4 11.7 0.1 35.3 29 15 U.S. 17.5 29.4 2.9 0.2 13.9 24 20 Foreign 9.6 16.1 10.2 0.3 31.7 30 14 COARSE GRAINS 2/ Production World 2.8 4.6 22.2 1.3 68.4 22 22 U.S. 9.5 16.0 14.9 0.0 57.9 19 25 Foreign 2.4 4.1 13.9 1.1 53.0 22 22 Exports World 7.4 12.4 7.6 0.6 23.8 29 15 U.S. 25.8 43.5 8.2 0.2 24.4 18 26 Foreign 13.3 22.4 7.3 0.2 19.7 30 14 Domestic Use World 1.7 2.9 14.2 0.0 46.0 23 21 U.S. 4.2 7.1 6.6 0.0 22.2 27 17 Foreign 1.9 3.2 11.9 1.0 40.6 24 20 Ending Stocks World 17.8 29.9 22.0 0.6 171.9 26 18 U.S. 42.3 71.2 12.8 0.4 50.5 18 26 Foreign 15.5 26.1 14.6 0.2 155.2 31 13 RICE, milled Production World 2.3 3.8 6.7 0.4 24.0 27 17 U.S. 5.5 9.2 0.3 0.0 0.8 22 20 Foreign 2.3 3.9 6.7 0.5 24.3 27 17 Exports World 9.0 15.2 2.0 0.0 7.3 31 13 U.S. 11.2 18.9 0.2 0.0 1.0 18 22 Foreign 9.8 16.6 2.0 0.0 7.5 31 13 Domestic Use World 1.9 3.2 4.6 0.2 22.9 28 16 U.S. 8.0 13.4 0.2 0.0 0.5 18 25 Foreign 1.9 3.2 4.6 0.2 22.9 28 16 Ending Stocks World 13.0 21.9 7.1 0.1 26.5 33 11 U.S. 28.5 48.0 0.3 0.0 1.0 25 18 Foreign 14.2 23.9 7.1 0.2 26.0 34 10 ================================================================================ WASDE - 662 - 36 July 2025 Reliability of July Projections (Continued) 1/ ================================================================================ Differences between forecast and final estimate 90 percent Years Commodity and Root mean Confidence Below Above Region square error interval Average Smallest Largest Final Final ================================================================================ Million Metric Tons SOYBEANS Production World 5.1 8.5 8.2 0.5 33.2 19 25 U.S. 6.7 11.3 3.7 0.0 11.7 22 22 Foreign 7.4 12.4 7.2 0.8 34.1 22 22 Exports World 7.4 12.5 3.8 0.0 17.0 28 16 U.S. 12.5 21.0 3.0 0.1 9.3 24 20 Foreign 18.7 31.5 3.3 0.0 19.5 27 17 Domestic Use World 3.7 6.2 5.8 0.5 16.4 24 20 U.S. 4.9 8.2 1.5 0.0 4.9 24 20 Foreign 4.0 6.8 5.1 0.1 16.1 24 20 Ending Stocks World 14.7 24.7 5.0 0.0 26.1 23 21 U.S. 60.2 101.4 2.9 0.0 13.4 15 28 Foreign 18.0 30.2 4.4 0.0 21.8 27 17 COTTON Production World 5.4 9.1 3.7 0.0 14.9 23 21 U.S. 11.5 19.4 1.5 0.1 5.3 21 23 Foreign 5.5 9.3 2.9 0.0 12.1 23 20 Exports World 10.5 17.7 2.5 0.1 11.6 24 20 U.S. 25.7 43.3 1.3 0.1 3.6 24 20 Foreign 13.7 23.1 2.0 0.0 9.8 20 24 Domestic Use World 5.3 9.0 3.6 0.0 21.6 19 25 U.S. 11.1 18.7 0.5 0.0 1.4 19 24 Foreign 5.4 9.0 3.5 0.1 21.0 18 26 Ending Stocks World 15.7 26.4 6.4 0.2 20.1 26 18 U.S. 41.4 69.7 1.4 0.1 4.9 19 25 Foreign 15.3 25.8 5.5 0.5 19.5 28 16 ================================================================================ WASDE - 662 - 37 July 2025 Reliability of United States July Projections 1/ ================================================================================ Differences between forecast and final estimate 90 percent Years Commodity and Root mean Confidence Below Above Region square error interval Average Smallest Largest Final Final ================================================================================ Million Bushels CORN Production 10.4 17.5 538 12 2190 23 21 Exports 26.6 44.8 293 0 900 18 24 Domestic Use 4.6 7.8 258 0 770 26 17 Ending Stocks 50.4 84.8 466 11 1840 19 25 SORGHUM Production 23.0 38.7 69 3 213 24 20 Exports 55.1 92.8 52 0 195 20 23 Domestic Use 32.5 54.7 53 3 139 19 25 Ending Stocks 63.5 106.9 42 0 174 16 27 BARLEY Production 7.4 12.4 19 0 87 15 28 Exports 73.2 123.3 13 0 92 27 15 Domestic Use 9.6 16.1 23 0 87 18 25 Ending Stocks 20.9 35.2 23 0 114 19 24 OATS Production 12.3 20.8 18 0 144 9 33 Exports 90.6 152.6 1 0 8 13 12 Domestic Use 6.8 11.4 15 0 67 12 27 Ending Stocks 23.4 39.4 13 0 68 17 25 Thousand Short Tons SOYBEAN MEAL Production 4.9 8.2 1150 118 4432 30 14 Exports 14.3 24.0 834 0 2450 24 19 Domestic Use 5.3 8.9 890 0 4470 21 22 Ending Stocks 38.1 64.2 49 0 413 11 19 Million Pounds SOYBEAN OIL Production 4.7 7.9 567 55 2130 31 13 Exports 46.9 79.0 460 0 2000 24 18 Domestic Use 4.2 7.1 511 0 2300 24 19 Ending Stocks 37.5 63.1 453 15 1568 22 22 ANIMAL PROD. 3/ Million Pounds Beef 3.9 6.7 784 60 2677 22 9 Pork 2.8 4.8 458 20 1372 14 17 Broilers 2.1 3.5 623 20 1338 14 17 Turkeys 4.4 7.5 187 2 474 10 21 Million Dozen Eggs 2.7 4.5 147 4 821 19 12 Billion Pounds Milk 1.5 2.6 2.3 0.1 7.0 17 14 ================================================================================