ISSN:1554-9089 WASDE-432 March 10, 2006 WHEAT: No changes are made to projected 2005/06 U.S. wheat supply and use. No changes are made to projections of wheat by class. The projected 2005/06 price range is $3.35 to $3.45 per bushel, unchanged from last month. Relative to last month, global wheat production in 2005/06 is up fractionally, consumption is nearly unchanged, imports increase fractionally, and exports are nearly unchanged. Ending stocks increase 0.6 million tons from last month but are 7 million tons less than the previous year. Larger crops in Australia and Brazil are partially offset by a smaller crop in Bangladesh. Consumption is down in Turkey and Bangladesh but up in Iraq, Iran, and Canada. Relative to last month, imports are projected to increase for Iraq and Iran but decrease for Turkey and Romania. Exports increase for Turkey and Brazil but decline for Canada, Romania, and Syria. The largest increases in stocks occur in Australia, Canada, and Syria with smaller increases forecast for several other countries. Stocks are down in Turkey, Serbia and Montenegro, and Iran as well as several other countries. COARSE GRAINS: Projected 2005/06 U.S. corn stocks fall 50 million bushels from last month due to increased exports. Exports increase due to larger-than- expected U.S. sales to Asian markets. No changes are made to projected U.S. 2005/06 domestic corn use. The projected price range for 2005/06 corn is $1.85 to $2.05 per bushel, up 10 cents on the low end from last month. No changes are made to projected U.S. 2005/06 grain sorghum supply and use. The projected 2005/06 price range is $1.65 to $1.85 per bushel, up 5 cents on each end from last month. No changes are made to projected U.S. 2005/06 barley supply and use. The projected 2005/06 price range is $2.40 to $2.50 per bushel which is narrowed 5 cents on each end from last month. No changes are made to projected U.S. 2005/06 oats exports but imports and feed and residual are 10 million bushels more than last month. Ending stocks are unchanged. The projected 2005/06 price range is $1.55 to $1.60 per bushel, unchanged from last month. Changes in global coarse grains in 2005/06 include a slight increase in production, a fractional decline in consumption, minor changes in trade, and larger stocks relative to last month. Larger production in India, Australia, Romania, China, and EU-25 is only partially offset by smaller crops in Brazil, Mexico, Peru, and Philippines. Consumption is down in China, Egypt, Mexico, Russia, Peru, Canada and several other countries. Consumption increases in India, Australia, Iran, and several other countries. Relative to last month, imports are projected higher for Iran, South Africa, Syria, Kuwait, and Cuba. Lower imports are projected for Egypt, Mexico, Brazil, Venezuela, and Jordan. Lower foreign exports are projected for China, Brazil, South Africa, and EU-25, which are partially offset by larger exports from Canada, Russia, and India. Foreign 2005/06 ending stocks rise 5.3 million tons from last month. The largest increases in stocks occur in China, Australia, EU-25, Romania, Argentina, Iran, India, and South Africa. The largest projected decreases in foreign stocks from last month are in Brazil, Mexico, Canada, and Philippines. RICE: U.S. rice imports for 2005/06 are forecast at 14.5 million cwt, up 1 million cwt from last month. Total exports are lowered 3 million cwt to 118 million cwt. Exports of rough rice are reduced 1 million cwt and exports of milled and brown rice (on a rough-equivalent basis) are down 2 million cwt. Long-grain exports are lowered 2 million cwt from a month ago, and combined medium- and short- grain exports are reduced 1 million cwt. Ending stocks of all rice are projected at 30.5 million cwt, 4 million cwt above last month, but 7.2 million below a year earlier. The season-average farm price is projected at $7.55 to $7.85 per cwt, down 10 cents per cwt on both ends of the range from a month ago. Global production, consumption, and exports for 2005/06 are increased from a month ago, while ending stocks are lowered. Global production is increased 0.7 million tons from a month ago due primarily to larger crops projected for Bangladesh, Japan, the Philippines, and Peru partially offset by a reduction for Indonesia. World consumption is raised 2.6 million tons, principally because increases for India, Bangladesh, the Philippines, and Peru are only partially offset by a reduction for Vietnam. World exports are raised slightly as increases for China, Burma, and Brazil are partially offset by a small reduction for the United States. Global ending stocks are projected at 65.7 million tons, down about 1 million tons from last month, 8.1 million tons below 2004/05, and the lowest stocks since 1982/83. The reduction in ending stocks is primarily due to declines for India, the Philippines, Indonesia, and China, which are partially offset by increases for Vietnam, Japan, Peru, and the United States. OILSEEDS: Projected U.S. soybean ending stocks for 2005/06 are increased 10 million bushels to 565 million bushels, due to reduced soybean exports. Exports are projected at 900 million bushels, down 10 million bushels reflecting lower imports for China and EU-25. Although domestic soybean meal use is reduced this month, an offsetting increase in soybean meal exports leaves crush unchanged. Soybean oil exports are reduced sharply as sales remain weak despite abundant soybean oil supplies. As a result, soybean oil stocks are increased to 2.7 billion pounds, the highest since 2000/01. The U.S. season average soybean price range for 2005/06 is projected at $5.40 to $5.80 per bushel, up 20 cents on the bottom of the range. Soybean oil prices are projected at 21 to 23 cents per pound, up 0.5 cents on both ends of the range. Soybean meal prices are unchanged. Global oilseed production for 2005/06 is projected at a record 393.0 million tons, up 3.7 million tons from last month and 12.7 million tons above 2004/05. Global soybean production is raised 1.4 million tons due mostly to higher production for China. China soybean production is raised 1.3 million tons to 18.3 million tons based on increased area and yield. Global rapeseed production is increased mainly due to a higher production estimate for China. Other changes this month include higher palm oil production for Indonesia, which is partially offset by reduced production for Malaysia. Global oilseed stocks are raised this month as increased production is only partially offset by increased oilseed crush. Global vegetable oil stocks are also projected higher mainly due to increased soybean oil stocks in the United States. SUGAR: Projected U.S. sugar supply for 2005/06 is decreased 51,000 short tons, raw value, from last month. Lower production more than offsets a slight increase in beginning stocks. Production, based on processor projections compiled by the Farm Service Agency, is down 30,000 tons for beet sugar and 23,000 tons for cane sugar. Use is increased 100,000 tons based on a strong deliveries pace to date. Ending stocks are decreased to 1.5 million tons, or 14.4 percent of use. 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 2006 assume a continuation of policies currently in place among U.S. trading partners. The recent suspension of beef imports by Japan is assumed to be temporary pending the resolution of importer concerns. U.S. beef exports to South Korea are not forecast pending implementation of import regulations by South Korea. U.S. meat production forecasts for 2006 are slightly higher than last month due to increased broiler meat output. Beef and pork production are unchanged from last month, although some beef production has been shifted from the first to the second quarter. Broiler meat production is increased in the first quarter because of strong output growth as the number of birds slaughtered and live weights were higher than expected in January. However, hatchery data indicates that the strong first quarter gains are not likely to be sustained through the year. Turkey and egg production are unchanged from last month. Beef and pork exports are unchanged. Broiler meat exports in the second half of 2006 are reduced from last month. The rate of growth is expected to slow slightly as the recent spread of Avian Influenza outbreaks has dampened prospects for trade. Forecast cattle and hog prices are unchanged for 2006. Broiler prices are reduced because of larger meat supplies. Forecast milk production in 2006 is raised from last month as January output was larger than expected. Commercial use is to remain relatively firm but the increase in production and higher-than-expected beginning stocks are expected to result in lower forecast prices and increased commercial ending stocks. The cheese price is forecast lower than last month, which will more than offset slightly stronger whey prices and result in a reduced Class III price. Both butter and nonfat dry milk prices are forecast lower than last month, and the Class IV price forecast is lowered to reflect this. CCC net removals of nonfat dry milk are raised slightly from last month. The forecast all milk price for 2006 is lowered to $12.75 to $13.35 per cwt. COTTON: The 2005/06 U.S. cotton estimates include higher exports and lower ending stocks relative to last month. Production and domestic mill use are unchanged. Exports are raised 400,000 bales based on recent activity and higher forecast import demand by China. Ending stocks are reduced 6 percent to 6.6 million bales. The 2005/06 world estimates include lower production and consumption and higher trade, resulting in marginally higher ending stocks. Production is reduced mainly in India and the African Franc Zone, partially offset by an increase for Zimbabwe. Consumption is reduced in India, Taiwan, Turkey, and Uzbekistan. World trade is raised slightly, as higher imports by China are partially offset by reductions for Turkey, Taiwan, and others. Revisions are made in the export estimates for several countries, including increases for the United States, India, and Zimbabwe; and reductions are made for Greece and Australia. World stocks are raised less than 1 percent 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 April 10, 2006. In 2006, the WASDE report will be released on May 12, June 9, July 12, August 11, September 12, October 12, November 9, and December 11. _______________ 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-432-6 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 : 1,858.85 2,303.78 240.27 1,946.83 356.94 2004/05 (Est.) : 2,038.11 2,395.05 239.49 1,994.10 400.95 2005/06 (Proj.) : February : 1,983.75 2,383.95 235.67 2,010.01 373.94 March : 1,988.26 2,389.22 235.42 2,011.55 377.67 Wheat : 2003/04 : 554.59 720.66 109.36 588.56 132.10 2004/05 (Est.) : 626.75 758.85 110.84 609.22 149.63 2005/06 (Proj.) : February : 616.17 765.77 110.36 623.81 141.96 March : 616.77 766.40 110.31 623.77 142.62 Coarse grains 4/ : 2003/04 : 912.87 1,081.44 103.49 942.69 138.75 2004/05 (Est.) : 1,009.15 1,147.90 100.93 970.39 177.51 2005/06 (Proj.) : February : 958.60 1,136.30 98.62 970.96 165.34 March : 961.82 1,139.33 98.33 969.97 169.36 Rice, milled : 2003/04 : 391.38 501.67 27.41 415.58 86.09 2004/05 (Est.) : 402.21 488.30 27.72 414.49 73.81 2005/06 (Proj.) : February : 408.99 481.88 26.69 415.24 66.64 March : 409.68 483.49 26.79 417.80 65.69 : : United States Total grains 3/ : 2003/04 : 345.33 395.10 88.59 262.12 44.40 2004/05 (Est.) : 385.62 434.55 83.77 276.08 74.71 2005/06 (Proj.) : February : 363.10 442.32 83.05 277.71 81.56 March : 363.10 442.53 84.23 277.88 80.42 Wheat : 2003/04 : 63.81 78.90 31.52 32.51 14.87 2004/05 (Est.) : 58.74 75.53 28.92 31.91 14.70 2005/06 (Proj.) : February : 57.28 74.29 27.22 32.33 14.75 March : 57.28 74.29 27.22 32.33 14.75 Coarse grains 4/ : 2003/04 : 275.10 308.48 53.75 225.96 28.76 2004/05 (Est.) : 319.42 350.38 51.30 240.28 58.80 2005/06 (Proj.) : February : 298.74 359.31 52.00 241.34 65.97 March : 298.74 359.48 53.27 241.51 64.70 Rice, milled : 2003/04 : 6.42 7.73 3.31 3.66 0.76 2004/05 (Est.) : 7.46 8.64 3.54 3.89 1.21 2005/06 (Proj.) : February : 7.09 8.73 3.84 4.04 0.84 March : 7.09 8.76 3.75 4.04 0.97 =============================================================================== 1/ Aggregate of local marketing years. 2/ Based on export estimate. See individual commodity tables for treatment of export/import imbalances. 3/ Wheat, coarse grains and milled rice. 4/ Corn, sorghum, barley, oats, rye, millet and mixed grains (for U.S. excludes millet and mixed grains). WASDE-432-7 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 : 1,513.51 1,908.67 151.68 1,684.71 312.55 2004/05 (Est.) : 1,652.49 1,960.50 155.73 1,718.02 326.24 2005/06 (Proj.) : February : 1,620.65 1,941.63 152.62 1,732.30 292.38 March : 1,625.16 1,946.69 151.20 1,733.66 297.25 Wheat : 2003/04 : 490.78 641.76 77.84 556.05 117.23 2004/05 (Est.) : 568.01 683.32 81.92 577.31 134.93 2005/06 (Proj.) : February : 558.89 691.48 83.14 591.48 127.22 March : 559.49 692.10 83.09 591.44 127.88 Coarse grains 5/ : 2003/04 : 637.77 772.96 49.74 716.73 109.99 2004/05 (Est.) : 689.73 797.52 49.63 730.11 118.71 2005/06 (Proj.) : February : 659.87 776.99 46.63 729.62 99.36 March : 663.08 779.85 45.06 728.46 104.65 Rice, milled : 2003/04 : 384.96 493.95 24.10 411.93 85.33 2004/05 (Est.) : 394.75 479.65 24.18 410.60 72.60 2005/06 (Proj.) : February : 401.90 473.16 22.85 411.20 65.80 March : 402.59 474.73 23.05 413.76 64.72 =============================================================================== 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 : 95.26 139.49 33.25 97.87 43.06 2004/05 (Est.) : 120.38 163.44 34.72 108.75 54.20 2005/06 (Proj.) : February : 113.75 167.87 41.85 116.79 52.93 March : 113.34 167.54 42.25 116.15 53.28 : United States 2003/04 : 18.26 23.69 13.76 6.22 3.51 2004/05 (Est.) : 23.25 26.79 14.41 6.69 5.54 2005/06 (Proj.) : February : 23.72 29.30 16.40 5.90 7.00 March : 23.72 29.29 16.80 5.90 6.60 : Foreign 3/ 2003/04 : 77.01 115.80 19.49 91.65 39.56 2004/05 (Est.) : 97.13 136.65 20.31 102.05 48.66 2005/06 (Proj.) : February : 90.03 138.57 25.45 110.89 45.93 March : 89.62 138.25 25.45 110.25 46.68 =============================================================================== 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-432-8 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 : 334.89 379.55 67.07 278.58 40.50 2004/05 (Est.) : 380.33 420.83 74.98 301.50 52.04 2005/06 (Proj.) : February : 389.29 441.47 77.86 311.39 62.59 March : 392.99 445.03 77.41 313.39 63.61 Oilmeals : 2003/04 : 189.55 195.95 58.51 189.11 5.94 2004/05 (Est.) : 204.83 210.77 59.09 203.95 6.65 2005/06 (Proj.) : February : 212.34 218.42 62.27 210.90 6.19 March : 212.83 219.48 62.71 211.74 6.14 Vegetable Oils : 2003/04 : 101.70 109.51 38.28 100.85 7.49 2004/05 (Est.) : 111.07 118.56 42.29 108.63 8.24 2005/06 (Proj.) : February : 114.08 121.99 44.00 113.05 7.76 March : 115.06 123.30 44.07 114.33 8.03 : : United States Oilseeds : 2003/04 : 76.60 82.94 25.16 45.53 4.15 2004/05 (Est.) : 95.98 100.81 30.86 50.17 8.29 2005/06 (Proj.) : February : 96.44 105.29 25.75 51.54 16.82 March : 96.44 105.37 25.41 51.53 17.30 Oilmeals : 2003/04 : 35.21 37.30 4.94 32.08 0.27 2004/05 (Est.) : 39.25 41.08 6.94 33.92 0.22 2005/06 (Proj.) : February : 39.42 41.19 6.28 34.62 0.29 March : 39.45 41.22 6.48 34.46 0.27 Vegetable Oils : 2003/04 : 8.77 11.57 0.74 10.03 0.80 2004/05 (Est.) : 9.75 12.37 0.84 10.46 1.07 2005/06 (Proj.) : February : 10.27 13.31 0.94 10.94 1.42 March : 10.26 13.44 0.84 11.09 1.52 : : Foreign 3/ Oilseeds : 2003/04 : 258.29 296.61 41.91 233.05 36.35 2004/05 (Est.) : 284.36 320.02 44.12 251.34 43.76 2005/06 (Proj.) : February : 292.85 336.18 52.11 259.84 45.77 March : 296.55 339.67 51.99 261.86 46.32 Oilmeals : 2003/04 : 154.33 158.65 53.57 157.03 5.67 2004/05 (Est.) : 165.58 169.69 52.15 170.03 6.44 2005/06 (Proj.) : February : 172.92 177.23 55.99 176.27 5.90 March : 173.38 178.26 56.23 177.28 5.87 Vegetable Oils : 2003/04 : 92.93 97.94 37.54 90.82 6.70 2004/05 (Est.) : 101.32 106.19 41.45 98.17 7.17 2005/06 (Proj.) : February : 103.81 108.68 43.06 102.11 6.33 March : 104.80 109.86 43.23 103.24 6.51 =============================================================================== 1/ Aggregate of local marketing years with Brazil and Argentina on an Oct.-Sept. year. 2/ Crush only for oilseeds. 3/ Total foreign is equal to world minus United States. WASDE-432-9 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :============================== : : Est. : February March =============================================================================== Area : Million acres Planted : 62.1 59.7 57.2 57.2 Harvested : 53.1 50.0 50.1 50.1 Yield per harvested : Bushels acre : 44.2 43.2 42.0 42.0 : Million bushels Beginning stocks : 491 546 540 540 Production : 2,345 2,158 2,105 2,105 Imports : 63 71 85 85 Supply, total : 2,899 2,775 2,730 2,730 Food : 912 905 910 910 Seed : 80 79 78 78 Feed and residual : 203 189 200 200 Domestic, total : 1,194 1,172 1,188 1,188 Exports : 1,158 1,063 1,000 1,000 Use, total : 2,353 2,235 2,188 2,188 Ending stocks : 546 540 542 542 CCC inventory : 61 54 40 40 Free stocks : 485 486 502 502 Outstanding loans : 37 58 45 45 Avg. farm price ($/bu) 2/ : 3.40 3.40 3.35- 3.45 3.35- 3.45 =============================================================================== 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/ : 1,084 690 466 390 145 2,775 Domestic use : 503 217 256 120 76 1,172 Exports : 388 314 122 207 31 1,063 Use, total : 891 531 378 327 108 2,235 Ending stocks, total : 193 159 88 63 38 540 : 2005/06 (projected) : Beginning stocks : 193 159 88 63 38 540 Production : 930 467 309 298 101 2,105 Supply, total 3/ : 1,124 644 420 375 168 2,730 Domestic use : 506 222 270 112 79 1,188 Exports : 445 280 75 170 30 1,000 Use, total : 950 502 344 282 109 2,188 Ending stocks, total : March : 173 141 76 93 59 542 February : 173 141 76 93 59 542 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning June 1. 2/ Marketing-year weighted average price received by farmers. 3/ Includes imports. WASDE-432-10 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :============================== : : Est. : February March =============================================================================== FEED GRAINS : Area : Million acres Planted : 98.0 97.0 96.3 96.3 Harvested : 85.7 86.0 85.9 85.9 Yield per harvested : Metric tons acre : 3.21 3.71 3.47 3.47 : Million metric tons Beginning stocks : 30.9 28.7 58.8 58.8 Production : 274.9 319.2 298.5 298.5 Imports : 2.4 2.1 1.7 1.8 Supply, total : 308.2 350.0 359.0 359.2 Feed and residual : 155.7 166.1 159.7 159.9 Food, seed & industrial : 69.9 73.9 81.3 81.3 Domestic, total : 225.7 239.9 241.0 241.2 Exports : 53.8 51.3 52.0 53.3 Use, total : 279.4 291.2 293.0 294.5 Ending stocks, total : 28.7 58.8 66.0 64.7 CCC inventory : 0.0 0.0 0.0 0.0 Free stocks : 28.7 58.8 65.9 64.7 Outstanding loans : 4.4 7.2 7.0 6.4 : CORN : Area : Million acres Planted : 78.6 80.9 81.8 81.8 Harvested : 70.9 73.6 75.1 75.1 Yield per harvested : Bushels acre : 142.2 160.4 147.9 147.9 : Million bushels Beginning stocks : 1,087 958 2,114 2,114 Production : 10,089 11,807 11,112 11,112 Imports : 14 11 10 10 Supply, total : 11,190 12,776 13,236 13,236 Feed and residual : 5,795 6,162 6,000 6,000 Food, seed & industrial : 2,537 2,686 2,985 2,985 Ethanol for fuel 2/ : 1,168 1,323 1,600 1,600 Domestic, total : 8,332 8,848 8,985 8,985 Exports : 1,900 1,814 1,850 1,900 Use, total : 10,232 10,662 10,835 10,885 Ending stocks, total : 958 2,114 2,401 2,351 CCC inventory : 0 1 1 1 Free stocks : 958 2,113 2,400 2,350 Outstanding loans : 164 280 275 250 Avg. farm price ($/bu) 3/ : 2.42 2.06 1.75- 2.05 1.85- 2.05 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a further breakout of FSI corn uses including ethanol, see the Feed Outlook table 5 or access the data on the Web through the Feed Grain Data Delivery System (http://www.ers.usda.gov/db/feedgrains/). 3/ Marketing-year weighted average price received by farmers. WASDE-432-11 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :============================== : : Est. : February March =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 9.4 7.5 6.5 6.5 Area harv. (mil. acres) : 7.8 6.5 5.7 5.7 Yield (bushels/acre) : 52.7 69.6 68.7 68.7 Beginning stocks : 43 34 57 57 Production : 411 454 394 394 Imports : 0 0 0 0 Supply, total : 454 487 451 451 Feed and residual : 182 191 150 150 Food, seed & industrial : 40 55 55 55 Total domestic : 222 246 205 205 Exports : 199 184 170 170 Use, total : 421 430 375 375 Ending stocks, total : 34 57 76 76 Avg. farm price ($/bu) 2/ : 2.39 1.79 1.60- 1.80 1.65- 1.85 : BARLEY : Area planted (mil. acres) : 5.3 4.5 3.9 3.9 Area harv. (mil. acres) : 4.7 4.0 3.3 3.3 Yield (bushels/acre) : 58.9 69.6 64.8 64.8 Beginning stocks : 69 120 128 128 Production : 278 280 212 212 Imports : 21 12 5 5 Supply, total : 368 412 345 345 Feed and residual : 72 116 70 70 Food, seed & industrial : 157 145 140 140 Total domestic : 229 261 210 210 Exports : 19 23 30 30 Use, total : 248 284 240 240 Ending stocks, total : 120 128 105 105 Avg. farm price ($/bu) 2/ : 2.83 2.48 2.35- 2.55 2.40- 2.50 : OATS : Area planted (mil. acres) : 4.6 4.1 4.2 4.2 Area harv. (mil. acres) : 2.2 1.8 1.8 1.8 Yield (bushels/acre) : 65.0 64.7 63.0 63.0 Beginning stocks : 50 65 58 58 Production : 144 116 115 115 Imports : 90 88 75 85 Supply, total : 284 268 248 258 Feed and residual : 144 134 120 130 Food, seed & industrial : 73 74 74 74 Total domestic : 217 208 194 204 Exports : 2 3 2 2 Use, total : 219 210 196 206 Ending stocks, total : 65 58 52 52 Avg. farm price ($/bu) 2/ : 1.48 1.48 1.55- 1.60 1.55- 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. WASDE-432-12 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :============================== : : Est. : February March =============================================================================== TOTAL : Area : Million acres Planted : 3.02 3.35 3.38 3.38 Harvested : 3.00 3.33 3.36 3.36 Yield per harvested : Pounds acre : 6,670 6,988 6,636 6,636 : : Million hundredweight : Beginning stocks 2/ : 26.8 23.7 37.7 37.7 Production : 199.9 232.4 223.2 223.2 Imports : 15.0 13.2 13.5 14.5 Supply, total : 241.7 269.2 274.4 275.4 Domestic & residual 3/ : 115.0 121.3 126.9 126.9 Exports, total 4/ : 103.1 110.3 121.0 118.0 Rough : 34.4 35.2 36.0 35.0 Milled (rough equiv.) : 68.7 75.1 85.0 83.0 Use, total : 218.0 231.6 247.9 244.9 Ending stocks : 23.7 37.7 26.5 30.5 Avg. milling yield (%) 5/ : 70.8 70.8 70.0 70.0 Avg. farm price ($/cwt) 6/ : 8.08 7.33 7.65- 7.95 7.55- 7.85 : LONG GRAIN : Harvested acres (mil.) : 2.31 2.57 2.73 2.73 Yield (pounds/acre) : 6,451 6,630 6,493 6,493 Beginning stocks : 15.7 10.3 22.7 22.7 Production : 149.0 170.4 177.5 177.5 Supply, total 7/ : 174.5 191.3 211.2 211.5 Domestic & Residual 3/ : 83.4 84.6 94.1 94.1 Exports 8/ : 80.7 84.0 97.0 95.0 Use, total : 164.2 168.6 191.1 189.1 Ending stocks : 10.3 22.7 20.1 22.4 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.69 0.75 0.63 0.63 Yield (pounds/acre) : 7,407 8,212 7,255 7,255 Beginning stocks : 9.3 12.4 13.8 13.8 Production : 50.9 61.9 45.7 45.7 Supply, total 7/ : 66.2 76.8 62.0 62.8 Domestic & Residual 3/ : 31.5 36.7 32.8 32.8 Exports 8/ : 22.3 26.3 24.0 23.0 Use, total : 53.9 63.0 56.8 55.8 Ending stocks : 12.4 13.8 5.3 7.0 =============================================================================== 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; 2005/06-1.1. 3/ Residual includes unreported use, processing losses, and estimating errors. Use by type may not add to total rice use because of the difference in brokens between beginning and ending stocks. 4/ Includes rough rice and milled rice exports. Milled rice exports are converted to an equivalent rough basis. 5/ Expressed as a percent, i.e., the total quantity of whole kernel and broken rice produced divided by the quantity of rough rice milled. 6/ Marketing-year weighted average price received by farmers. 7/ Includes imports. 8/ Exports by type of rice are estimated. WASDE-432-13 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :=============================== : : Est. : February March =============================================================================== SOYBEANS: : Million acres Area : Planted : 73.4 75.2 72.1 72.1 Harvested : 72.5 74.0 71.4 71.4 : : Bushels Yield per harvested : acre : 33.9 42.2 43.3 43.3 : : Million bushels : Beginning stocks : 178 112 256 256 Production : 2,454 3,124 3,086 3,086 Imports : 6 6 4 4 Supply, total : 2,638 3,242 3,346 3,346 Crushings : 1,530 1,696 1,720 1,720 Exports : 887 1,103 910 900 Seed : 92 88 91 91 Residual : 17 99 71 71 Use, total : 2,525 2,986 2,792 2,782 Ending stocks : 112 256 555 565 Avg. farm price ($/bu) 2/ : 7.34 5.74 5.20- 5.80 5.40 - 5.80 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,489 1,076 1,699 1,699 Production : 17,081 19,360 20,040 20,040 Imports : 306 26 65 65 Supply, total : 18,875 20,462 21,804 21,804 Domestic : 16,864 17,439 18,000 18,000 Exports : 936 1,324 1,350 1,125 Use, total : 17,800 18,762 19,350 19,125 Ending stocks : 1,076 1,699 2,454 2,679 Average price (c/lb) 2/ : 29.97 23.01 20.50- 21.00- : 22.50 23.00 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 220 211 172 172 Production : 36,325 40,717 40,613 40,613 Imports : 285 147 165 165 Supply, total : 36,830 41,075 40,950 40,950 Domestic : 31,449 33,563 34,100 33,900 Exports : 5,170 7,340 6,600 6,800 Use, total : 36,619 40,903 40,700 40,700 Ending stocks : 211 172 250 250 Average price ($/s.t.) 2/ : 256.05 182.89 165.00- 165.00- : 180.00 180.00 =============================================================================== Note: Reliability calculations at end of report. 1/ Marketing year beginning September 1 for soybeans; October 1 for soybean oil and meal. 2/ Prices: Soybeans, marketing year weighted average price received by farmers; for Oil, simple average of crude soybean oil, Decatur; for Meal, simple average of 48 percent, Decatur. WASDE-432-14 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :====================== : : : February March ====================================================================== : 1,000 short tons, raw value : Beginning stocks : 1,670 1,897 1,347 1,349 Production 2/ : 8,649 7,877 7,589 7,536 Beet sugar : 4,692 4,611 4,458 4,428 Cane sugar : 3,957 3,266 3,131 3,108 Florida : 2,154 1,693 1,428 1,428 Hawaii : 251 258 260 255 Louisiana : 1,377 1,157 1,263 1,245 Texas : 175 158 180 180 Imports : 1,754 2,096 3,090 3,090 TRQ 3/ : 1,230 1,404 2,590 2,590 Other program 4/ : 464 500 325 325 Other 5/ : 60 192 175 175 Supply, total : 12,073 11,870 12,026 11,975 : Exports : 288 259 175 175 Deliveries : 9,862 10,188 10,190 10,290 Food : 9,678 10,019 10,050 10,150 Other 6/ : 184 169 140 140 Miscellaneous 7/ : 26 74 0 0 Use, total : 10,176 10,521 10,365 10,465 Ending stocks : 1,897 1,349 1,661 1,510 : Stocks to use ratio : 18.6 12.8 16.0 14.4 ====================================================================== 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 from processor reports compiled by the Farm Service Agency. 3/ Actual arrivals under the tariff rate quota (TRQ) with late entries, early entries, and TRQ overfills assigned to the fiscal year in which they actually arrived. For 2005/06, shortfall is 115,000 tons. 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-432-15 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2005/06 Projections Item : 2003/04 : 2004/05 :=============================== : : Est. : February March =============================================================================== : Million acres Area : Planted : 13.48 13.66 14.20 14.20 Harvested : 12.00 13.06 13.70 13.70 : : Pounds Yield per harvested : acre : 730 855 831 831 : : Million 480 pound bales : Beginning stocks 2/ : 5.39 3.51 5.54 5.54 Production : 18.26 23.25 23.72 23.72 Imports : 0.05 0.03 0.04 0.03 Supply, total : 23.69 26.79 29.30 29.29 Domestic use : 6.22 6.69 5.90 5.90 Exports : 13.76 14.41 16.40 16.80 Use, total : 19.98 21.10 22.30 22.70 Unaccounted 3/ : 0.20 0.15 0.00 -0.01 Ending stocks : 3.51 5.54 7.00 6.60 : Avg. farm price 4/ : 61.8 41.6 47.3 5/ =============================================================================== Note: Reliability calculations at end of report. 1/ Upland and extra-long staple; marketing year beginning August 1. Totals may not add due to rounding. 2/ Based on Bureau of Census data. 3/ Reflects the difference between the previous season's supply less total use and ending stocks based on Bureau of Census data. 4/ Cents per pound for upland cotton. 5/ Average price for August 2005-January 2006. USDA is prohibited by law from publishing cotton price projections. =============================================================================== 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 2005/06 is 29.7 percent. WASDE-432-16 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/ : 166.07 554.59 102.15 96.71 588.56 109.36 132.10 United States : 13.37 63.81 1.72 5.52 32.51 31.52 14.87 Total foreign : 152.70 490.78 100.44 91.19 556.05 77.84 117.23 Major exporters 4/ : 27.04 171.06 6.22 57.55 126.73 54.16 23.44 Argentina : 1.53 14.50 0.00 0.08 5.23 9.41 1.40 Australia : 3.14 26.13 0.07 3.23 5.96 18.03 5.36 Canada : 5.73 23.55 0.23 3.44 7.64 15.79 6.08 EU-25 5/ : 16.64 106.88 5.91 50.80 107.90 10.93 10.60 Major importers 6/ : 79.20 149.36 51.78 9.97 210.64 6.80 62.90 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 0.18 7.47 Pakistan : 1.44 19.19 0.05 0.40 18.90 0.19 1.58 Southeast Asia 9/ : 1.57 0.00 9.98 1.32 9.20 0.32 2.03 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/ : 132.10 626.75 109.86 106.83 609.22 110.84 149.63 United States : 14.87 58.74 1.92 5.14 31.91 28.92 14.70 Total foreign : 117.23 568.01 107.94 101.69 577.31 81.92 134.93 Major exporters 4/ : 23.44 201.23 7.72 65.49 135.84 55.91 40.64 Argentina : 1.40 16.00 0.00 0.08 5.01 11.83 0.55 Australia : 5.36 22.60 0.08 3.70 6.40 14.74 6.89 Canada : 6.08 25.86 0.25 5.01 9.23 14.97 7.99 EU-25 5/ : 10.60 136.77 7.39 56.70 115.20 14.37 25.20 Major importers 6/ : 62.90 154.76 60.59 8.29 213.55 3.35 61.34 Brazil : 0.51 5.85 5.21 0.30 10.20 0.02 1.35 China : 43.29 91.95 6.75 4.00 102.00 1.17 38.82 Select. Mideast 7/ : 5.56 18.16 9.60 1.95 27.87 0.60 4.86 N. Africa 8/ : 7.47 16.62 18.41 0.30 32.63 0.22 9.64 Pakistan : 1.58 19.00 1.42 0.40 19.50 0.05 2.45 Southeast Asia 9/ : 2.03 0.00 9.75 0.91 9.35 0.37 2.06 Selected other : India : 6.90 72.06 0.01 0.50 72.75 2.12 4.10 FSU-12 : 10.99 86.53 4.57 20.81 72.71 15.19 14.20 Russia : 2.65 45.40 1.20 13.60 37.40 7.95 3.89 Kazakhstan : 3.78 9.95 0.02 2.70 7.40 2.70 3.64 Ukraine : 1.13 17.50 0.03 2.10 11.70 4.35 2.61 =============================================================================== 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-432-17 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/ : February : 149.60 616.17 106.60 113.66 623.81 110.36 141.96 March : 149.63 616.77 107.00 113.36 623.77 110.31 142.62 United States : February : 14.70 57.28 2.31 5.44 32.33 27.22 14.75 March : 14.70 57.28 2.31 5.44 32.33 27.22 14.75 Total foreign : February : 134.90 558.89 104.29 108.22 591.48 83.14 127.22 March : 134.93 559.49 104.69 107.92 591.44 83.09 127.88 Major exporters 4/ : February : 40.64 185.84 7.84 69.48 140.50 54.50 39.32 March : 40.64 186.34 7.84 69.68 140.70 54.00 40.12 Argentina Feb : 0.55 12.10 0.01 0.08 5.20 7.00 0.46 Mar : 0.55 12.10 0.01 0.08 5.20 7.00 0.46 Australia Feb : 6.89 24.00 0.08 3.90 6.60 16.50 7.87 Mar : 6.89 24.50 0.08 3.90 6.60 16.50 8.37 Canada Feb : 7.99 26.80 0.25 5.00 9.20 16.50 9.34 Mar : 7.99 26.80 0.25 5.20 9.40 16.00 9.64 EU-25 5/ Feb : 25.20 122.95 7.50 60.50 119.50 14.50 21.65 Mar : 25.20 122.95 7.50 60.50 119.50 14.50 21.65 Major importers 6/ : February : 61.34 158.60 56.00 8.30 214.99 3.65 57.30 March : 61.34 158.89 56.80 8.30 215.89 3.85 57.29 Brazil Feb : 1.35 4.60 5.70 0.80 10.80 0.40 0.45 Mar : 1.35 4.87 5.70 0.80 10.80 0.60 0.52 China Feb : 38.82 97.00 1.50 3.50 101.00 1.00 35.32 Mar : 38.82 97.00 1.50 3.50 101.00 1.00 35.32 Sel. Mideast 7/Feb : 4.86 19.22 10.45 1.90 28.04 0.65 5.84 Mar : 4.86 19.22 11.25 1.90 28.94 0.65 5.74 N. Africa 8/ Feb : 9.64 12.92 18.60 0.30 33.33 0.21 7.63 Mar : 9.64 12.92 18.60 0.30 33.33 0.21 7.63 Pakistan Feb : 2.45 21.00 0.80 0.40 20.30 0.05 3.90 Mar : 2.45 21.00 0.80 0.40 20.30 0.05 3.90 SE Asia 9/ Feb : 2.06 0.00 9.65 0.98 9.45 0.39 1.87 Mar : 2.06 0.00 9.65 0.98 9.45 0.39 1.87 Selected other : India Feb : 4.10 72.00 0.50 0.50 74.10 0.50 2.00 Mar : 4.10 72.00 0.50 0.50 74.10 0.50 2.00 FSU-12 Feb : 14.21 91.70 3.74 23.11 75.55 18.94 15.17 Mar : 14.20 91.70 3.74 23.11 75.55 18.94 15.15 Russia Feb : 3.89 47.60 0.80 14.90 38.40 10.00 3.89 Mar : 3.89 47.60 0.80 14.90 38.40 10.00 3.89 Kazakhstan Feb : 3.64 11.00 0.02 2.70 7.40 3.20 4.06 Mar : 3.64 11.00 0.02 2.70 7.40 3.20 4.06 Ukraine Feb : 2.63 18.70 0.05 3.10 13.10 5.50 2.78 Mar : 2.61 18.70 0.05 3.10 13.10 5.50 2.76 =============================================================================== 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-432-18 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/ : 168.57 912.87 100.88 612.15 942.69 103.49 138.75 United States : 30.94 275.10 2.44 155.79 225.96 53.75 28.76 Total foreign : 137.63 637.77 98.44 456.36 716.73 49.74 109.99 Major exporters 4/ : 7.87 70.15 2.44 33.96 46.98 22.94 10.53 Argentina : 1.04 18.60 0.05 5.10 7.36 11.33 1.00 Australia : 1.20 14.86 0.00 5.37 6.60 7.21 2.25 Canada : 3.14 26.33 2.08 19.28 23.81 3.64 4.09 Major importers 5/ : 37.94 195.13 79.16 205.22 274.32 5.50 32.42 EU-25 6/ : 21.50 122.97 8.01 101.94 135.47 4.39 12.63 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 5.60 N. Afr & Mideast 7/: 3.77 25.73 15.86 33.69 40.22 0.35 4.79 Saudi Arabia : 2.65 0.20 8.42 8.65 8.84 0.00 2.43 Southeast Asia 8/ : 1.04 15.56 3.93 12.73 18.04 0.75 1.73 South Korea : 1.29 0.30 8.99 6.79 9.16 0.00 1.42 Selected other : China : 66.37 123.95 1.53 99.06 138.65 7.72 45.48 Other Europe : 3.19 18.84 1.38 17.95 21.34 0.36 1.71 FSU-12 : 11.97 55.37 1.46 39.23 56.56 6.09 6.15 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/ : 138.75 1009.15 99.82 635.66 970.39 100.93 177.51 United States : 28.76 319.42 2.20 166.18 240.28 51.30 58.80 Total foreign : 109.99 689.73 97.63 469.48 730.11 49.63 118.71 Major exporters 4/ : 10.53 75.13 2.92 36.35 50.19 24.74 13.65 Argentina : 1.00 24.90 0.01 6.60 9.06 15.14 1.71 Australia : 2.25 11.57 0.00 5.58 6.80 4.62 2.40 Canada : 4.09 26.45 2.47 19.16 23.74 2.85 6.42 Major importers 5/ : 32.42 223.72 75.99 211.43 281.31 4.61 46.21 EU-25 6/ : 12.63 150.74 3.67 106.24 139.62 4.01 23.41 Japan : 2.15 0.20 19.73 15.27 20.10 0.00 1.98 Mexico : 5.60 29.56 8.94 22.08 38.23 0.03 5.84 N. Afr & Mideast 7/: 4.79 26.79 20.13 37.10 44.07 0.06 7.60 Saudi Arabia : 2.43 0.20 6.91 6.65 6.84 0.00 2.71 Southeast Asia 8/ : 1.73 15.82 3.14 12.77 18.58 0.52 1.59 South Korea : 1.42 0.34 8.72 6.66 8.96 0.00 1.52 Selected other : China : 45.48 138.25 2.06 100.20 141.16 7.62 37.01 Other Europe : 1.71 28.87 0.42 19.32 24.45 2.22 4.34 FSU-12 : 6.15 62.91 1.04 38.02 54.55 8.08 7.48 Russia : 2.93 29.60 0.68 19.00 29.40 1.13 2.67 Ukraine : 1.82 23.00 0.03 11.35 15.20 6.77 2.88 =============================================================================== 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-432-19 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/ : February : 177.70 958.60 96.99 625.94 970.96 98.62 165.34 March : 177.51 961.82 97.75 624.48 969.97 98.33 169.36 United States : February : 58.80 298.74 1.77 159.76 241.34 52.00 65.97 March : 58.80 298.74 1.94 159.93 241.51 53.27 64.70 Total foreign : February : 118.90 659.87 95.22 466.18 729.62 46.63 99.36 March : 118.71 663.08 95.80 464.54 728.46 45.06 104.65 Major exporters 4/ : February : 13.61 65.13 1.88 36.02 49.65 21.30 9.67 March : 13.65 67.03 2.38 36.47 49.95 21.20 11.91 Argentina Feb : 1.21 19.20 0.00 6.51 8.97 10.51 0.93 Mar : 1.71 19.20 0.00 6.51 8.97 10.51 1.43 Australia Feb : 2.16 12.06 0.00 5.14 6.39 6.17 1.65 Mar : 2.40 13.96 0.00 5.69 6.94 6.17 3.25 Canada Feb : 6.42 25.98 1.56 19.96 24.83 3.60 5.53 Mar : 6.42 25.98 1.56 19.66 24.53 4.10 5.33 Major importers 5/ : February : 45.80 200.69 75.24 207.94 278.10 5.81 37.82 March : 46.21 200.14 75.31 207.40 277.53 5.46 38.66 EU-25 6/ Feb : 23.30 131.42 3.65 101.31 134.65 4.81 18.92 Mar : 23.41 131.82 3.65 101.31 134.65 4.46 19.77 Japan Feb : 1.98 0.19 19.49 15.01 19.84 0.00 1.82 Mar : 1.98 0.19 19.49 15.01 19.84 0.00 1.82 Mexico Feb : 5.86 27.48 10.35 22.68 39.10 0.01 4.58 Mar : 5.84 26.78 10.10 22.28 38.68 0.01 4.04 N Afr/M.East 7/Feb : 7.30 24.38 17.93 36.87 43.84 0.68 5.09 Mar : 7.60 24.33 18.26 36.83 43.79 0.68 5.72 Saudi Arabia Feb : 2.73 0.20 7.40 7.43 7.61 0.00 2.72 Mar : 2.71 0.20 7.40 7.43 7.61 0.00 2.70 S.-east Asia 8/Feb : 1.52 16.62 3.16 13.58 19.44 0.33 1.53 Mar : 1.59 16.42 3.14 13.48 19.34 0.33 1.48 South Korea Feb : 1.52 0.33 8.53 6.56 8.85 0.00 1.53 Mar : 1.52 0.33 8.53 6.56 8.85 0.00 1.53 Selected other : China Feb : 36.64 141.60 2.21 101.65 143.80 6.03 30.62 Mar : 37.01 142.10 2.21 101.10 143.15 5.03 33.15 Other Europe Feb : 4.76 25.98 0.67 19.76 25.04 2.65 3.72 Mar : 4.34 27.28 0.61 19.67 24.95 2.66 4.62 FSU-12 Feb : 7.60 55.09 1.20 34.33 50.44 7.84 5.60 Mar : 7.48 55.09 1.20 34.13 50.04 8.24 5.48 Russia Feb : 2.72 27.65 0.75 18.00 28.30 1.21 1.62 Mar : 2.67 27.65 0.75 17.80 27.90 1.61 1.56 Ukraine Feb : 2.94 18.14 0.09 9.05 12.49 6.36 2.32 Mar : 2.88 18.14 0.09 9.05 12.49 6.36 2.27 =============================================================================== 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-432-20 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/ : 124.93 623.04 76.55 442.60 644.99 77.34 102.98 United States : 27.60 256.28 0.36 147.20 211.64 48.26 24.34 Total foreign : 97.33 366.76 76.20 295.40 433.35 29.08 78.65 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 82.96 49.65 91.38 130.99 1.20 13.87 Egypt : 0.20 5.74 3.74 8.00 9.50 0.00 0.18 EU-25 6/ : 4.83 39.88 5.75 36.01 46.81 0.46 3.18 Japan : 1.46 0.00 16.78 12.40 16.90 0.00 1.34 Mexico : 3.24 21.80 5.74 11.20 26.40 0.01 4.37 Southeast Asia 7/ : 1.04 15.42 3.90 12.60 17.90 0.73 1.73 South Korea : 1.29 0.07 8.78 6.61 8.72 0.00 1.42 Selected other : Brazil : 6.26 42.00 0.36 30.50 36.30 4.44 7.88 Canada : 1.11 9.60 2.03 8.80 11.23 0.37 1.14 China : 64.97 115.83 0.00 97.00 128.40 7.55 44.85 Other Europe : 2.67 15.13 0.94 15.10 17.22 0.34 1.18 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/ : 102.98 709.08 75.86 466.45 680.90 77.50 131.16 United States : 24.34 299.91 0.28 156.52 224.75 46.08 53.70 Total foreign : 78.65 409.17 75.59 309.93 456.15 31.42 77.46 Major exporters 4/ : 3.18 32.22 0.26 8.30 15.15 16.60 3.90 Argentina : 0.22 20.50 0.01 3.50 5.20 14.50 1.03 South Africa : 2.96 11.72 0.25 4.80 9.95 2.10 2.87 Major importers 5/ : 13.87 97.64 47.09 99.22 139.43 0.70 18.47 Egypt : 0.18 5.78 5.40 9.00 10.60 0.00 0.76 EU-25 6/ : 3.18 53.48 2.95 41.70 52.50 0.16 6.95 Japan : 1.34 0.00 16.49 12.20 16.70 0.00 1.13 Mexico : 4.37 22.63 5.92 12.60 27.90 0.03 5.00 Southeast Asia 7/ : 1.73 15.62 3.13 12.60 18.40 0.51 1.57 South Korea : 1.42 0.08 8.64 6.62 8.62 0.00 1.52 Selected other : Brazil : 7.88 35.00 0.60 32.10 38.50 0.60 4.38 Canada : 1.14 8.84 2.37 7.91 10.31 0.24 1.80 China : 44.85 130.29 0.00 98.00 131.00 7.59 36.56 Other Europe : 1.18 23.44 0.18 15.96 19.55 1.63 3.62 FSU-12 : 1.35 15.35 0.52 10.94 12.64 2.40 2.18 Russia : 0.16 3.50 0.23 3.00 3.60 0.04 0.24 =============================================================================== 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-432-21 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/ : February : 131.43 683.76 73.28 465.85 687.03 72.73 128.16 March : 131.16 683.89 73.05 463.50 684.90 71.58 130.15 United States : February : 53.70 282.26 0.25 152.41 228.23 46.99 60.99 March : 53.70 282.26 0.25 152.41 228.23 48.26 59.72 Total foreign : February : 77.74 401.50 73.03 313.45 458.80 25.74 67.17 March : 77.46 401.63 72.80 311.10 456.67 23.32 70.43 Major exporters 4/ : February : 4.10 23.00 0.20 8.10 14.50 11.00 1.80 March : 3.90 23.00 0.70 8.30 14.55 10.40 2.65 Argentina Feb : 0.53 15.50 0.00 3.90 5.60 10.00 0.43 Mar : 1.03 15.50 0.00 3.90 5.60 10.00 0.93 South Africa Feb : 3.57 7.50 0.20 4.20 8.90 1.00 1.37 Mar : 2.87 7.50 0.70 4.40 8.95 0.40 1.72 Major importers 5/ : February : 18.30 90.77 47.15 98.40 138.72 0.91 16.60 March : 18.47 90.47 46.63 97.80 138.12 0.61 16.84 Egypt Feb : 0.76 5.95 4.80 9.10 10.80 0.00 0.71 Mar : 0.76 5.95 4.30 8.60 10.30 0.00 0.71 EU-25 6/ Feb : 6.82 47.79 3.00 40.00 50.60 0.60 6.41 Mar : 6.95 48.19 3.00 40.00 50.60 0.30 7.24 Japan Feb : 1.13 0.00 16.50 12.10 16.60 0.00 1.03 Mar : 1.13 0.00 16.50 12.10 16.60 0.00 1.03 Mexico Feb : 5.00 20.50 6.70 12.90 28.40 0.01 3.79 Mar : 5.00 20.00 6.70 12.90 28.40 0.01 3.29 S.-east Asia 7/Feb : 1.49 16.42 3.15 13.40 19.25 0.30 1.51 Mar : 1.57 16.22 3.13 13.30 19.15 0.30 1.46 South Korea Feb : 1.52 0.06 8.40 6.50 8.45 0.00 1.53 Mar : 1.52 0.06 8.40 6.50 8.45 0.00 1.53 Selected other : Brazil Feb : 4.62 42.50 0.60 33.50 40.00 1.70 6.02 Mar : 4.38 41.00 0.50 33.50 40.00 1.10 4.78 Canada Feb : 1.80 9.47 1.50 8.50 11.00 0.15 1.62 Mar : 1.80 9.47 1.50 8.50 11.00 0.15 1.62 China Feb : 36.06 134.00 0.10 100.00 134.00 6.00 30.16 Mar : 36.56 134.00 0.10 99.00 133.00 5.00 32.66 Other Europe Feb : 4.07 21.32 0.31 16.66 20.35 2.25 3.10 Mar : 3.62 22.62 0.31 16.66 20.35 2.25 3.95 FSU-12 Feb : 2.18 13.09 0.51 9.94 11.63 2.33 1.82 Mar : 2.18 13.09 0.51 9.94 11.63 2.33 1.82 Russia Feb : 0.24 3.20 0.30 2.95 3.55 0.00 0.19 Mar : 0.24 3.20 0.30 2.95 3.55 0.00 0.19 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina 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-432-22 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/ : 110.29 391.38 24.86 415.58 27.41 86.09 United States : 0.83 6.42 0.48 3.66 3.31 0.76 Total foreign : 109.46 384.96 24.38 411.93 24.10 85.33 Major exporters 4/ : 18.41 133.22 0.30 115.40 19.48 17.05 India : 11.00 88.28 0.00 85.38 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 17.85 4.30 4.30 Major importers 5/ : 12.34 59.35 9.37 68.14 0.37 12.56 Brazil : 0.59 8.71 0.81 8.69 0.08 1.34 EU-25 6/ : 0.96 1.73 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 1.45 4.00 0.00 1.00 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 0.07 0.35 0.45 0.00 0.11 China : 67.22 112.46 1.12 135.00 0.88 44.93 Egypt : 0.87 3.90 0.00 3.23 0.83 0.72 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 4.61 0.21 0.85 : : 2004/05 (Estimated) World 3/ : 86.09 402.21 26.08 414.49 27.72 73.81 United States : 0.76 7.46 0.42 3.89 3.54 1.21 Total foreign : 85.33 394.75 25.66 410.60 24.18 72.60 Major exporters 4/ : 17.05 130.12 0.30 112.90 19.40 15.17 India : 10.80 85.31 0.00 82.51 4.50 9.10 Pakistan : 0.24 5.02 0.00 2.66 2.45 0.16 Thailand : 1.71 17.07 0.00 9.48 7.27 2.02 Vietnam : 4.30 22.72 0.30 18.25 5.17 3.89 Major importers 5/ : 12.56 59.62 9.26 68.67 0.59 12.18 Brazil : 1.34 9.00 0.55 9.00 0.30 1.59 EU-25 6/ : 0.97 1.86 1.00 2.53 0.18 1.13 Indonesia : 4.02 34.25 0.50 35.85 0.05 2.87 Nigeria : 1.00 2.30 1.37 4.25 0.00 0.42 Philippines : 4.05 9.45 1.50 10.40 0.00 4.59 Sel. Mideast 7/ : 0.99 2.27 3.25 5.07 0.06 1.38 Selected other : Burma : 1.63 9.57 0.00 10.30 0.19 0.71 C. Amer & Carib 8/ : 0.11 0.07 0.42 0.48 0.00 0.13 China : 44.93 125.36 0.61 135.10 0.66 35.14 Egypt : 0.72 4.16 0.00 3.25 1.10 0.53 Japan : 1.70 7.94 0.78 8.30 0.20 1.92 Mexico : 0.18 0.20 0.55 0.80 0.00 0.13 South Korea : 0.85 5.00 0.19 4.86 0.27 0.91 =============================================================================== 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-432-23 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/ : February : 72.90 408.99 25.94 415.24 26.69 66.64 March : 73.81 409.68 25.58 417.80 26.79 65.69 United States : February : 1.21 7.09 0.43 4.04 3.84 0.84 March : 1.21 7.09 0.46 4.04 3.75 0.97 Total foreign : February : 71.69 401.90 25.51 411.20 22.85 65.80 March : 72.60 402.59 25.12 413.76 23.05 64.72 Major exporters 4/ : February : 14.09 132.90 0.10 113.16 18.33 15.61 March : 15.17 132.96 0.10 114.16 18.33 15.75 India Feb : 8.50 87.00 0.00 82.00 3.50 10.00 Mar : 9.10 87.00 0.00 83.50 3.50 9.10 Pakistan Feb : 0.16 5.50 0.00 2.67 2.83 0.17 Mar : 0.16 5.50 0.00 2.67 2.83 0.17 Thailand Feb : 2.02 17.90 0.00 9.49 7.00 3.43 Mar : 2.02 17.90 0.00 9.49 7.00 3.43 Vietnam Feb : 3.41 22.50 0.10 19.00 5.00 2.01 Mar : 3.89 22.56 0.10 18.50 5.00 3.05 Major importers 5/ : February : 12.16 59.43 10.84 69.27 0.36 12.80 March : 12.18 59.05 10.44 69.61 0.41 11.64 Brazil Feb : 1.57 7.80 0.70 9.21 0.13 0.73 Mar : 1.59 7.80 0.70 9.15 0.18 0.76 EU-25 6/ Feb : 1.13 1.80 0.98 2.55 0.18 1.18 Mar : 1.13 1.71 0.98 2.55 0.18 1.09 Indonesia Feb : 2.87 34.90 1.00 35.60 0.00 3.17 Mar : 2.87 34.50 1.00 35.60 0.00 2.77 Nigeria Feb : 0.42 2.70 1.80 4.35 0.00 0.57 Mar : 0.42 2.70 1.80 4.35 0.00 0.57 Philippines Feb : 4.59 9.50 1.90 10.60 0.00 5.39 Mar : 4.59 9.60 1.50 11.00 0.00 4.69 Sel. Mideast 7/Feb : 1.38 2.27 3.40 5.37 0.06 1.62 Mar : 1.38 2.27 3.40 5.37 0.06 1.62 Selected other : Burma Feb : 0.72 10.44 0.00 10.40 0.15 0.61 Mar : 0.71 10.44 0.00 10.40 0.20 0.55 C. Am & Car. 8/Feb : 0.12 0.07 0.40 0.49 0.00 0.10 Mar : 0.13 0.07 0.40 0.49 0.00 0.10 China Feb : 35.14 127.40 0.60 135.20 0.70 27.24 Mar : 35.14 127.40 0.60 135.20 0.80 27.14 Egypt Feb : 0.53 4.20 0.00 3.30 1.00 0.43 Mar : 0.53 4.20 0.00 3.30 1.00 0.43 Japan Feb : 1.92 8.00 0.70 8.25 0.20 2.17 Mar : 1.92 8.26 0.70 8.25 0.20 2.43 Mexico Feb : 0.13 0.20 0.60 0.83 0.00 0.10 Mar : 0.13 0.20 0.60 0.83 0.00 0.10 South Korea Feb : 0.91 4.77 0.40 4.85 0.13 1.10 Mar : 0.91 4.77 0.40 4.85 0.13 1.10 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, 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-432-24 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 : 44.23 95.26 33.90 97.87 33.25 -0.79 43.06 United States : 5.39 18.26 0.05 6.22 13.76 0.20 3.51 Total foreign : 38.84 77.01 33.86 91.65 19.49 -0.99 39.56 Major exporters 4/ : 11.55 30.69 3.18 18.11 14.93 -0.16 12.54 Pakistan : 2.26 7.75 1.85 9.60 0.20 0.03 2.03 Central Asia 5/ : 1.78 6.74 0.01 1.67 5.14 0.00 1.71 Afr. Fr. Zone 6/ : 1.56 4.39 3/ 0.20 4.44 0.00 1.30 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 : 25.10 42.87 26.18 67.03 3.14 -0.84 24.82 India : 3.59 14.00 0.80 13.50 0.70 0.00 4.19 Mexico : 1.07 0.36 1.86 2.00 0.11 0.03 1.14 China : 15.00 22.30 8.83 32.00 0.17 -1.00 14.96 EU-25 8/ : 1.53 1.96 3.16 3.90 1.73 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 6.00 0.36 0.00 1.48 Selected Asia 9/ : 2.33 0.15 7.68 8.13 0.06 0.08 1.89 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 : 43.06 120.38 33.14 108.75 34.72 -1.08 54.20 United States : 3.51 23.25 0.03 6.69 14.41 0.15 5.54 Total foreign : 39.56 97.13 33.12 102.05 20.31 -1.23 48.66 Major exporters 4/ : 12.54 37.97 2.55 19.45 16.23 -0.16 17.54 Pakistan : 2.03 11.30 1.70 10.75 0.38 0.03 3.88 Central Asia 5/ : 1.71 8.01 3/ 1.51 5.90 0.00 2.32 Afr. Fr. Zone 6/ : 1.30 4.89 3/ 0.20 4.08 0.00 1.90 S. Hemis. 7/ : 6.44 10.32 0.45 5.26 4.20 -0.20 7.94 Australia : 0.89 3.00 3/ 0.07 2.00 -0.12 1.95 Brazil : 4.63 5.90 0.21 4.20 1.56 -0.10 5.08 Major importers : 24.82 55.21 26.09 76.11 2.73 -1.09 28.37 India : 4.19 19.00 0.80 14.80 0.70 0.00 8.49 Mexico : 1.14 0.63 1.81 2.10 0.14 0.03 1.32 China : 14.96 29.00 6.39 38.50 0.03 -1.25 13.06 EU-25 8/ : 0.96 2.30 3.06 3.47 1.66 0.06 1.14 Russia : 0.20 3/ 1.45 1.43 0.00 0.00 0.22 Turkey : 1.48 4.15 3.41 7.10 0.15 0.00 1.79 Selected Asia 9/ : 1.89 0.14 9.18 8.72 0.06 0.08 2.35 Indonesia : 0.37 0.03 2.40 2.25 0.02 0.05 0.48 Thailand : 0.42 0.06 2.28 2.15 0.00 0.03 0.58 =============================================================================== 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-432-25 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 : February : 54.12 113.75 42.41 116.79 41.85 -1.29 52.93 March : 54.20 113.34 42.83 116.15 42.25 -1.30 53.28 United States : February : 5.54 23.72 0.04 5.90 16.40 0.00 7.00 March : 5.54 23.72 0.03 5.90 16.80 -0.01 6.60 Total foreign : February : 48.58 90.03 42.37 110.89 25.45 -1.29 45.93 March : 48.66 89.62 42.80 110.25 25.45 -1.29 46.68 Major exporters 4/ : February : 17.54 34.78 2.65 20.33 19.45 -0.16 15.34 March : 17.54 34.73 2.65 20.23 19.45 -0.16 15.39 Pakistan Feb : 3.88 9.75 1.70 11.75 0.35 0.03 3.21 Mar : 3.88 9.75 1.70 11.75 0.35 0.03 3.21 Central Asia 5/Feb : 2.32 8.39 3/ 1.56 6.58 0.00 2.57 Mar : 2.32 8.39 3/ 1.46 6.61 0.00 2.64 Afr. Fr. Zn. 6/Feb : 1.90 4.96 3/ 0.19 4.87 0.00 1.81 Mar : 1.90 4.81 3/ 0.19 4.82 0.00 1.71 S. Hemis 7/ Feb : 7.94 8.56 0.42 5.05 5.78 -0.20 6.29 Mar : 7.94 8.71 0.42 5.05 5.85 -0.20 6.37 Australia Feb : 1.95 2.60 3/ 0.06 3.05 -0.12 1.57 Mar : 1.95 2.60 3/ 0.06 2.95 -0.12 1.67 Brazil Feb : 5.08 4.50 0.20 4.00 2.00 -0.10 3.88 Mar : 5.08 4.50 0.20 4.00 2.00 -0.10 3.88 Major importers Feb : 28.29 51.61 35.40 84.06 4.31 -1.14 28.07 Mar : 28.37 51.31 35.80 83.52 4.34 -1.14 28.76 India Feb : 8.49 18.60 0.80 16.75 1.80 0.00 9.34 Mar : 8.49 18.30 0.80 16.50 2.00 0.00 9.09 Mexico Feb : 1.32 0.64 1.40 2.00 0.18 0.03 1.15 Mar : 1.32 0.64 1.40 2.00 0.23 0.03 1.10 China Feb : 13.06 26.20 17.00 45.00 0.03 -1.30 12.54 Mar : 13.06 26.20 17.75 45.00 0.03 -1.30 13.29 EU-25 8/ Feb : 1.16 2.48 2.68 3.09 2.08 0.06 1.08 Mar : 1.14 2.48 2.60 3.02 1.86 0.06 1.28 Russia Feb : 0.22 3/ 1.50 1.50 0.00 0.00 0.22 Mar : 0.22 3/ 1.50 1.50 0.00 0.00 0.22 Turkey Feb : 1.69 3.55 3.50 7.05 0.15 0.00 1.54 Mar : 1.79 3.55 3.35 6.90 0.15 0.00 1.64 Sel. Asia 9/ Feb : 2.35 0.15 8.53 8.68 0.08 0.08 2.20 Mar : 2.35 0.15 8.40 8.60 0.08 0.08 2.15 Indonesia Feb : 0.48 0.03 2.30 2.30 0.02 0.05 0.44 Mar : 0.48 0.03 2.30 2.30 0.02 0.05 0.44 Thailand Feb : 0.58 0.05 2.05 2.13 0.00 0.03 0.53 Mar : 0.58 0.05 2.05 2.13 0.00 0.03 0.53 =============================================================================== 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-432-26 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/ : 40.37 186.75 54.25 163.79 190.17 55.62 35.58 United States : 4.85 66.78 0.15 41.63 44.60 24.13 3.06 Total foreign : 35.52 119.97 54.10 122.16 145.58 31.49 32.52 Major exporters 3/ : 28.59 87.91 0.88 55.35 59.92 29.30 28.16 Argentina : 12.47 33.00 0.54 25.04 26.62 6.71 12.68 Brazil : 16.03 51.00 0.33 29.32 32.15 19.82 15.39 Major importers 4/ : 6.00 17.43 43.57 48.98 63.23 0.34 3.43 China : 4.47 15.39 16.93 25.44 34.38 0.32 2.10 EU-25 : 0.87 0.63 14.64 14.11 15.44 0.01 0.70 Japan : 0.31 0.23 4.69 3.54 4.93 0.00 0.30 Mexico : 0.05 0.13 3.80 3.89 3.92 0.00 0.04 : : 2004/05 (Estimated) World 2/ : 35.58 215.33 64.68 175.46 205.69 65.03 44.88 United States : 3.06 85.01 0.15 46.16 51.25 30.01 6.96 Total foreign : 32.52 130.32 64.53 129.30 154.43 35.02 37.92 Major exporters 3/ : 28.16 95.80 1.24 57.28 62.06 32.65 30.48 Argentina : 12.68 39.00 0.69 27.31 28.93 9.51 13.92 Brazil : 15.39 53.00 0.53 28.97 31.91 20.54 16.48 Major importers 4/ : 3.43 19.54 52.82 53.46 69.10 0.42 6.27 China : 2.10 17.40 25.80 30.36 40.21 0.39 4.70 EU-25 : 0.70 0.79 15.50 14.10 15.99 0.01 0.99 Japan : 0.30 0.17 4.30 3.15 4.50 0.00 0.26 Mexico : 0.04 0.13 3.64 3.73 3.76 0.00 0.04 : : 2005/06 (Projected) World 2/ : February : 44.87 222.76 66.28 183.84 213.73 66.35 53.83 March : 44.88 224.12 65.30 183.17 213.81 66.07 54.42 United States : February : 6.96 84.00 0.11 46.81 51.21 24.77 15.09 March : 6.96 84.00 0.11 46.81 51.21 24.49 15.37 Total foreign : February : 37.91 138.76 66.17 137.03 162.52 41.58 38.73 March : 37.92 140.12 65.19 136.36 162.60 41.58 39.05 Major exporters 3/ : February : 30.48 103.50 1.09 59.39 64.18 38.92 31.98 March : 30.48 103.50 1.09 59.39 64.18 38.92 31.98 Argentina Feb : 13.92 40.50 0.65 28.45 30.20 10.00 14.87 Mar : 13.92 40.50 0.65 28.45 30.20 10.00 14.87 Brazil Feb : 16.48 58.50 0.43 29.49 32.31 26.07 17.02 Mar : 16.48 58.50 0.43 29.49 32.31 26.07 17.02 Major importers 4/ : February : 6.07 19.28 54.05 57.82 73.46 0.41 5.54 March : 6.27 20.59 53.16 57.23 73.61 0.44 5.98 China Feb : 4.70 17.00 27.50 34.51 44.73 0.37 4.10 Mar : 4.70 18.30 27.00 34.61 45.10 0.40 4.50 EU-25 Feb : 0.79 0.84 14.80 14.20 15.61 0.01 0.80 Mar : 0.99 0.86 14.40 13.50 15.39 0.01 0.84 Japan Feb : 0.26 0.23 4.30 3.10 4.49 0.00 0.30 Mar : 0.26 0.23 4.30 3.10 4.49 0.00 0.30 Mexico Feb : 0.04 0.13 3.73 3.82 3.85 0.00 0.04 Mar : 0.04 0.13 3.73 3.82 3.85 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-432-27 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/ : 5.33 128.45 44.74 128.33 45.44 4.74 United States : 0.20 32.95 0.26 28.53 4.69 0.19 Total foreign : 5.13 95.49 44.48 99.80 40.75 4.55 Major exporters 3/ : 2.04 46.54 0.23 9.44 37.02 2.35 Argentina : 0.35 19.76 0.00 0.62 18.95 0.54 Brazil : 1.65 22.36 0.23 7.70 14.76 1.78 India : 0.05 4.42 0.00 1.12 3.31 0.04 Major importers 4/ : 1.22 33.02 26.92 58.91 1.08 1.17 EU-25 : 0.87 11.10 21.91 32.64 0.39 0.85 China : 0.00 20.19 0.02 19.54 0.67 0.00 : : 2004/05 (Estimated) World 2/ : 4.74 137.93 45.69 137.11 45.72 5.53 United States : 0.19 36.94 0.13 30.45 6.66 0.16 Total foreign : 4.55 100.99 45.56 106.67 39.06 5.37 Major exporters 3/ : 2.35 47.52 0.19 11.05 35.97 3.04 Argentina : 0.54 21.34 0.00 0.85 19.88 1.15 Brazil : 1.78 22.42 0.19 8.81 14.24 1.33 India : 0.04 3.77 0.00 1.39 1.85 0.56 Major importers 4/ : 1.17 36.97 27.62 63.48 1.17 1.10 EU-25 : 0.85 11.09 22.10 32.68 0.51 0.86 China : 0.00 24.03 0.07 23.46 0.63 0.00 : : 2005/06 (Projected) World 2/ : February : 5.09 144.49 47.25 143.77 47.89 5.17 March : 5.53 143.90 47.72 143.56 48.48 5.11 United States : February : 0.16 36.84 0.15 30.94 5.99 0.23 March : 0.16 36.84 0.15 30.75 6.17 0.23 Total foreign : February : 4.94 107.65 47.10 112.84 41.90 4.95 March : 5.37 107.06 47.57 112.81 42.31 4.88 Major exporters 3/ : February : 2.58 49.45 0.28 11.51 38.24 2.56 March : 3.04 49.45 0.28 11.51 38.74 2.52 Argentina Feb : 1.15 22.33 0.00 0.90 21.65 0.93 Mar : 1.15 22.33 0.00 0.90 21.65 0.93 Brazil Feb : 1.33 23.17 0.28 9.04 14.19 1.55 Mar : 1.33 23.17 0.28 9.04 14.19 1.55 India Feb : 0.10 3.95 0.00 1.57 2.40 0.09 Mar : 0.56 3.95 0.00 1.57 2.90 0.04 Major importers 4/ : February : 1.14 40.62 28.11 67.58 1.14 1.15 March : 1.10 40.01 28.53 67.52 1.01 1.11 EU-25 Feb : 0.86 11.15 22.20 32.95 0.39 0.86 Mar : 0.86 10.63 22.50 32.58 0.54 0.86 China Feb : 0.00 27.47 0.23 27.00 0.70 0.00 Mar : 0.00 27.38 0.35 27.31 0.43 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-432-28 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/ : 2.39 29.85 8.26 29.76 8.79 1.95 United States : 0.68 7.75 0.14 7.65 0.43 0.49 Total foreign : 1.71 22.10 8.12 22.11 8.36 1.46 Major exporters 3/ : 0.79 12.64 0.10 5.31 7.50 0.72 Argentina : 0.13 4.51 0.00 0.27 4.24 0.14 Brazil : 0.42 5.59 0.03 2.95 2.72 0.37 EU-25 : 0.24 2.54 0.07 2.09 0.54 0.22 Major importers 4/ : 0.38 5.57 3.55 9.02 0.02 0.47 China : 0.25 4.54 2.75 7.17 0.02 0.34 India : 0.13 1.02 0.76 1.78 0.01 0.12 Pakistan : 0.01 0.01 0.05 0.07 0.00 0.01 : : 2004/05 (Estimated) World 2/ : 1.95 32.29 8.80 31.88 9.06 2.11 United States : 0.49 8.78 0.01 7.91 0.60 0.77 Total foreign : 1.46 23.51 8.79 23.96 8.46 1.34 Major exporters 3/ : 0.72 13.13 0.16 5.56 7.65 0.81 Argentina : 0.14 5.05 0.00 0.33 4.72 0.14 Brazil : 0.37 5.56 0.00 3.08 2.41 0.44 EU-25 : 0.22 2.52 0.16 2.16 0.51 0.23 Major importers 4/ : 0.47 6.30 3.74 10.13 0.05 0.33 China : 0.34 5.42 1.74 7.21 0.04 0.25 India : 0.12 0.87 1.95 2.85 0.01 0.08 Pakistan : 0.01 0.01 0.06 0.07 0.00 0.01 : : 2005/06 (Projected) World 2/ : February : 2.19 34.00 9.44 33.56 9.57 2.49 March : 2.11 33.87 9.44 33.47 9.40 2.55 United States : February : 0.77 9.09 0.03 8.17 0.61 1.11 March : 0.77 9.09 0.03 8.17 0.51 1.22 Total foreign : February : 1.42 24.91 9.41 25.40 8.96 1.38 March : 1.34 24.78 9.41 25.30 8.89 1.34 Major exporters 3/ : February : 0.80 13.49 0.26 5.74 8.04 0.77 March : 0.81 13.36 0.36 5.75 7.99 0.79 Argentina Feb : 0.14 5.29 0.00 0.30 5.00 0.14 Mar : 0.14 5.29 0.00 0.30 5.00 0.14 Brazil Feb : 0.44 5.65 0.01 3.10 2.58 0.43 Mar : 0.44 5.65 0.01 3.10 2.58 0.43 EU-25 Feb : 0.22 2.55 0.25 2.34 0.47 0.21 Mar : 0.23 2.42 0.35 2.35 0.42 0.23 Major importers 4/ : February : 0.40 7.14 4.18 11.28 0.06 0.38 March : 0.33 7.11 4.08 11.12 0.06 0.33 China Feb : 0.25 6.21 2.20 8.37 0.05 0.23 Mar : 0.25 6.17 2.10 8.22 0.05 0.25 India Feb : 0.15 0.91 1.90 2.80 0.01 0.15 Mar : 0.08 0.91 1.90 2.80 0.01 0.08 Pakistan Feb : 0.01 0.03 0.08 0.10 0.00 0.01 Mar : 0.01 0.03 0.08 0.10 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-432-29 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 : Annual : 24548 20509 45419 34063 5454 40022 85441 7440 170.9 : 2005 : I : 5725 5138 10951 8588 1328 10040 20991 1858 43.4 II : 6189 5021 11295 8934 1397 10469 21764 1860 45.8 III : 6560 5000 11643 8939 1375 10445 22088 1871 44.1 IV : 6209 5525 11821 8904 1405 10432 22253 1915 43.7 Annual : Feb Est : 24694 20682 45720 35346 5493 41353 87073 7509 176.5 Mar Est : 24683 20684 45710 35365 5505 41386 87096 7504 177.0 : 2006 : I*: 6000 5240 11327 8900 1335 10360 21687 1870 45.4 II*: 6775 5100 11965 9125 1405 10660 22625 1905 46.8 III*: 6825 5250 12162 9100 1410 10645 22807 1920 44.8 IV*: 6350 5625 12068 9050 1425 10610 22678 1950 45.0 Annual : Feb Proj : 25950 21215 47538 36100 5575 42200 89738 7645 181.4 Mar Proj : 25950 21215 47522 36175 5575 42275 89797 7645 182.0 =============================================================================== * 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 : 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 14.83 III : 81.79 50.51 72.1 76.5 66.6 14.97 IV : 90.27 45.67 66.7 83.6 75.0 15.13 Annual : Feb Est : 87.28 50.05 70.8 73.4 65.5 15.15 Mar Est : 87.28 50.05 70.8 73.4 65.5 15.15 : 2006 : I*: 89-90 42-43 63-64 67-68 70-71 13.80-14.00 II*: 85-89 45-47 63-67 68-72 65-69 12.10-12.60 III*: 78-84 43-47 64-70 72-78 68-74 12.20-13.00 IV*: 80-86 38-42 63-69 75-81 73-79 12.75-13.75 Annual : Feb Proj : 83-88 42-45 65-69 70-75 68-73 13.10-13.80 Mar Proj : 83-88 42-45 63-67 71-75 69-73 12.75-13.35 =============================================================================== *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-432-30 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 3679 28847 460 637 27750 66.1 2005 Est. Feb : 637 24796 3567 29000 669 570 27761 65.5 Mar : 637 24784 3599 29020 689 571 27760 65.5 2006 Proj. Feb : 570 26052 3500 30122 905 575 28642 66.9 Mar : 571 26052 3490 30113 905 575 28633 66.9 : PORK : 2004 : 532 20529 1099 22160 2181 543 19437 51.3 2005 Est. Feb : 543 20702 1002 22247 2658 492 19097 49.9 Mar : 543 20705 1024 22272 2660 494 19118 50.0 2006 Proj. Feb : 492 21235 1000 22727 2755 515 19457 50.4 Mar : 494 21235 1000 22729 2755 515 19459 50.4 : TOTAL RED MEAT 5/ : 2004 : 1059 45555 4959 51573 2650 1187 47735 119.0 2005 Est. Feb : 1187 45855 4746 51788 3337 1077 47374 116.9 Mar : 1187 45845 4803 51835 3358 1080 47397 117.0 2006 Proj. Feb : 1077 47673 4684 53434 3670 1106 48658 118.9 Mar : 1080 47657 4674 53411 3670 1106 48635 118.9 : BROILERS : 2004 : 608 33699 27 34334 4784 713 28837 84.3 2005 Est. Feb : 713 34968 34 35715 5211 918 29586 85.6 Mar : 713 34987 34 35734 5147 924 29662 85.8 2006 Proj. Feb : 918 35714 36 36668 5405 850 30413 87.2 Mar : 924 35788 36 36748 5300 850 30598 87.7 : TURKEYS : 2004 : 354 5383 5 5741 442 288 5010 17.0 2005 Est. Feb : 288 5422 8 5718 570 202 4946 16.7 Mar : 288 5433 8 5729 569 206 4954 16.7 2006 Proj. Feb : 202 5502 4 5708 600 250 4858 16.2 Mar : 206 5502 8 5716 600 250 4866 16.2 : TOTAL POULTRY 6/ : 2004 : 966 39585 33 40584 5440 1005 34139 102.3 2005 Est. Feb : 1005 40902 43 41950 5908 1122 34920 103.6 Mar : 1005 40935 43 41982 5847 1132 35004 103.8 2006 Proj. Feb : 1122 41740 44 42906 6145 1103 35658 104.7 Mar : 1132 41814 45 42991 6040 1102 35849 105.2 : RED MEAT & POULTRY: 2004 : 2025 85140 4992 92157 8090 2192 81875 221.3 2005 Est. Feb : 2192 86757 4789 93738 9245 2199 82294 220.5 Mar : 2192 86780 4846 93818 9205 2212 82401 220.8 2006 Proj. Feb : 2199 89413 4728 96340 9815 2209 84316 223.6 Mar : 2212 89471 4719 96402 9710 2208 84484 224.1 ============================================================================ 1/ Total including farm production for red meats and, for poultry, federally inspected plus non-federally inspected, less condemnations. 2/ Pounds, retail-weight basis. 3/ Population source: Dept. of Commerce, Bureau of Economic Analysis. 4/ Carcass weight for red meats and certified ready-to-cook weight for poultry. 5/ Beef, pork, veal, lamb and mutton. 6/ Broilers, turkeys and mature chicken. WASDE-432-31 U.S. Egg Supply and Use =============================================================================== : : : 2005 Estimated : 2006 Projected : : :-----------------:----------------- Commodity : 2003 : 2004 : Feb : Mar : Feb : Mar =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 10.3 13.7 14.5 14.5 16.0 16.0 Production : 7296.0 7440.0 7508.7 7503.6 7645.0 7645.0 Imports : 13.3 12.7 8.3 8.6 8.0 8.0 Total supply : 7319.6 7466.4 7531.5 7526.7 7669.0 7669.0 : Use : Exports : 146.2 167.5 209.6 205.9 200.0 200.0 Hatching use : 959.4 987.2 996.1 996.1 1015.0 1015.0 Ending stocks : 13.7 14.5 16.0 16.0 14.0 14.0 Consumption : Total : 6200.3 6297.2 6309.8 6308.8 6440.0 6440.0 Per capita (number) : 255.6 257.1 255.0 255.0 257.9 257.9 =============================================================================== U.S. Milk Supply and Use =============================================================================== : : : 2005 Estimated : 2006 Projected Commodity : : :-----------------:----------------- : 2003 : 2004 : Feb : Mar : Feb : Mar =============================================================================== : Billion pounds Milk : Production : 170.4 170.9 176.5 177.0 181.4 182.0 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 7.7 8.0 Marketings : 169.3 169.8 175.4 175.9 180.4 180.9 Imports : 5.0 5.3 4.6 4.6 4.7 4.7 Total cml. supply : 184.2 183.4 187.2 187.7 192.8 193.6 : Fat Basis Use : Ending commercial stks : 8.3 7.2 7.7 8.0 7.5 8.0 CCC net removals 1/ : 1.2 -0.1 0.0 0.0 0.0 0.0 Commercial use 2/ : 174.7 176.3 179.5 179.7 185.3 185.5 : Skim-solids Basis Supply : Beg. commercial stocks : 8.5 8.5 8.2 8.2 8.7 8.9 Marketings : 169.3 169.8 175.4 175.9 180.4 180.9 Imports : 5.0 4.8 4.5 4.5 4.6 4.6 Total cml. supply : 182.8 183.1 188.1 188.6 193.6 194.4 : Skim-solids Basis Use : Ending commercial stks : 8.5 8.2 8.7 8.9 8.3 8.5 CCC net removals 1/ : 8.1 1.3 -1.0 -1.0 0.9 1.2 Commercial use 2/ : 166.2 173.7 180.4 180.6 184.5 184.7 : : Million pounds CCC product net removals 1/: Butter : 29 -7 0 0 0 0 Cheese : 41 6 -2 -2 0 0 Nonfat dry milk : 664 105 -80 -80 75 100 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-432-32 U.S. Dairy Prices =============================================================================== : : : 2005 Estimated : 2006 Projected : : :-----------------:------------------ Commodity : 2003 : 2004 : Feb : Mar : Feb : Mar =============================================================================== : Dollars per pound : Product Prices 1/ : Cheese : 1.3031 1.6431 1.4875 1.4875 1.270- 1.230- : 1.340 1.290 : Butter : 1.1194 1.8239 1.5405 1.5405 1.260- 1.205- : 1.360 1.295 : Nonfat dry milk : 0.8090 0.8405 0.9409 0.9409 0.875- 0.840- : 0.935 0.890 : Dry whey : 0.1667 0.2319 0.2782 0.2782 0.270- 0.280- : 0.300 0.310 : : Dollars per cwt Milk Prices 2/ : Class III : 11.42 15.39 14.05 14.05 11.85- 11.50- : 12.55 12.10 : Class IV : 10.00 13.20 12.87 12.87 11.20- 10.65- : 12.00 11.35 : All milk 3/ : 12.52 16.05 15.15 15.15 13.10- 12.75- : 13.80 13.35 : =============================================================================== 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-432-33 Note: Tables on pages 33-35 present a 24-year record of the differences between the March projection and the final estimate. Using world wheat production as an example, changes between the March projection and the final estimate have averaged 2.6 million tons (0.5%) ranging from -8.0 to 6.9 million tons. The March projection has been below the estimate 16 times and above 8 times. Reliability of March 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 : 0.5 2.6 -8.0 6.9 16 8 U.S. : 0.1 0.1 -0.2 0.1 11 6 Foreign : 0.5 2.5 -8.0 6.9 15 8 Exports : World : 2.5 2.8 -9.0 3.5 19 5 U.S. : 2.5 0.8 -1.4 2.4 11 13 Foreign : 3.1 2.5 -7.7 2.5 16 7 Domestic use : World : 0.8 4.1 -9.4 8.1 11 13 U.S. : 3.0 0.9 -2.4 2.4 11 13 Foreign : 0.7 3.5 -7.9 7.6 13 10 Ending stocks : World : 3.4 4.5 -11.4 9.1 16 8 U.S. : 6.0 1.1 -4.4 2.5 13 11 Foreign : 3.3 3.4 -10.2 9.8 14 8 : COARSE GRAINS 3/ : Production : World : 0.9 7.2 -17.3 10.9 19 5 U.S. : 0.1 0.1 -0.2 1.3 11 6 Foreign : 1.1 6.8 -17.3 10.9 18 5 Exports : World : 3.1 3.3 -7.5 9.9 14 10 U.S. : 5.9 3.0 -5.5 9.1 10 14 Foreign : 5.4 2.9 -10.3 6.7 13 10 Domestic use : World : 0.8 6.9 -13.8 24.2 14 10 U.S. : 2.4 4.3 -17.3 11.5 11 13 Foreign : 0.8 5.4 -12.2 17.5 15 8 Ending stocks : World : 7.2 10.0 -28.2 13.9 20 4 U.S. : 7.5 4.3 -13.8 15.3 15 9 Foreign : 8.5 6.7 -27.0 10.5 19 4 : RICE, milled : Production : World : 1.1 3.7 -13.7 3.4 17 7 U.S. : 1.0 0.1 -0.2 0.2 8 4 Foreign : 0.9 3.1 -9.9 3.3 16 7 Exports : World : 6.8 1.3 -4.5 1.2 21 3 U.S. : 5.5 0.2 -0.5 0.3 14 7 Foreign : 7.2 1.1 -4.4 1.1 19 4 Domestic use : World : 0.8 2.8 -9.8 2.9 18 6 U.S. : 5.3 0.1 -0.3 0.4 9 14 Foreign : 0.8 2.6 -10.0 3.1 17 6 Ending stocks : World : 6.1 2.8 -11.6 4.0 16 8 U.S. : 15.9 0.2 -0.3 0.4 12 12 Foreign : 5.6 2.4 -6.2 3.9 15 8 ------------------------------------------------------------------------------- 1/ Footnotes at end of table. CONTINUED WASDE-432-34 Reliability of March 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 : 1.8 2.5 -4.2 10.8 14 10 U.S. : 0.9 0.6 -1.6 1.8 10 10 Foreign : 2.8 2.2 -4.6 10.3 14 9 Exports : World : 4.2 1.8 -6.1 9.6 15 8 U.S. : 5.1 1.1 -2.3 3.0 16 8 Foreign : 13.4 1.8 -5.5 9.5 10 13 Domestic use : World : 1.9 2.5 -5.3 11.4 14 10 U.S. : 2.5 1.0 -3.0 2.0 16 7 Foreign : 1.9 1.8 -3.9 12.8 12 11 Ending stocks : World : 12.3 2.9 -6.6 13.9 14 10 U.S. : 22.5 1.7 -2.7 5.4 6 18 Foreign : 13.2 2.2 -6.3 9.7 15 8 : COTTON : Million 480-pound bales Production : World : 1.2 1.1 -2.9 3.0 14 8 U.S. : 0.6 0.1 -0.2 0.3 9 14 Foreign : 1.4 1.0 -3.2 2.9 14 8 Exports : World : 3.1 0.8 -2.7 1.4 11 12 U.S. : 4.8 0.3 -1.2 0.9 9 14 Foreign : 3.9 0.7 -3.6 1.3 13 10 Mill use : World : 1.6 1.3 -6.0 1.3 13 11 U.S. : 3.2 0.3 -0.7 0.6 16 6 Foreign : 1.6 1.3 -5.5 1.4 14 9 Ending stocks : World : 6.8 2.3 -3.9 8.4 14 10 U.S. : 10.9 0.5 -1.2 1.6 8 16 Foreign : 7.5 2.3 -4.8 7.9 15 8 ------------------------------------------------------------------------------- 1/ Final estimate for 1981/82-2004/05 is defined as the first November estimate following the marketing year. 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-432-35 Reliability of United States March 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 : 0.0 2 -8 38 1 1 Exports : 6.1 104 -254 284 9 15 Domestic use : 2.4 147 -474 345 12 12 Ending stocks : 8.9 168 -535 713 16 8 : SORGHUM : Production : 0.0 0 0 4 0 2 Exports : 12.0 28 -90 72 14 9 Domestic use : 8.8 38 -178 100 11 13 Ending stocks : 30.0 32 -69 148 12 12 : BARLEY : Production : 0.4 2 -3 11 11 4 Exports : 12.0 7 -20 13 8 14 Domestic use : 5.0 19 -30 70 11 12 Ending stocks : 10.4 17 -53 24 15 9 : OATS : Production : 0.1 0 -2 1 4 3 Exports : 17.8 1 -1 3 3 4 Domestic use : 2.9 11 -26 36 12 12 Ending stocks : 10.5 13 -47 21 12 12 : : Thousand short tons SOYBEAN MEAL : Production : 2.4 773 -2328 717 18 6 Exports : 7.3 498 -1750 941 19 5 Domestic use : 1.9 474 -1106 691 18 6 Ending stocks : 30.5 74 -214 208 10 13 : : Million pounds SOYBEAN OIL : Production : 2.3 352 -1173 365 18 6 Exports : 14.1 222 -700 664 12 11 Domestic use : 1.6 209 -685 245 17 7 Ending stocks : 15.9 249 -692 350 14 10 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 2.5 610 -666 1613 16 6 Pork : 2.5 419 -1265 1667 15 7 Broilers : 1.4 320 -605 496 14 8 Turkeys : 2.0 90 -177 161 11 11 : : Million dozen Eggs : 1.2 73 -120 169 16 6 : : Billion pounds Milk : 1.3 1.9 -4.9 5.2 13 9 ------------------------------------------------------------------------------- 1/ See pages 33 and 34 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-2004/05 is defined as the first November estimate following the marketing year. 3/ May not total 24 for crops and 22 for animal production if projection was the same as the final estimate. 4/ Calendar years 1983 thru 2004 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS. ------------ End of File --------------