FEED OUTLOOK FDS-0795 United States Department of Agriculture Economic Research Service ------------------------------------------------------------------------------ Approved by the World Agricultural Outlook Board July 13, 1995 ------------------------------------------------------------------------------ HIGHLIGHTS o Projected 1995 Corn Production Drops Due to Lower Acreage o Higher Feed Grain Prices Expected in Face of Strong Demand Prospects o 1995/96 Projected Corn Feed and Residual Use Cut Again o 1994/95 Corn Disappearance Raised, Carryout Reduced U.S. feed grain supplies are forecast at 271 million metric tons in 1995/96, down 3 million from the June projection. The tighter outlook stems mainly from a lower prospective harvest for corn, along with lower carryin corn stocks. Projected feed grain use was cut by 2.1 million tons. All of the reduction was made in corn feed and residual use, outweighing smaller increases in sorghum and barley feed and residual. 1995 CORN CROP PROJECTION REDUCED 115 MILLION BUSHELS Corn production is projected at 7.785 billion bushels in 1995, down from the 7.9 billion projected last month. The change was made in response to lower harvested acres indicated in the June 30 Acreage report, with no change made in yields. Farmers estimated acres harvested for grain at 65 million, down 1 million acres from June's projections. In addition to the usual uncertainty at this time of year about prospective yields, there still is an unusual amount of uncertainty about acreage. This year has had one of the latest planting seasons on record due to heavy rainfall in many areas. At the time of the National Agriculture Statistics Service's (NASS) acreage survey, conducted in early June, 11 percent of intended acres had not yet been planted, representing about 8 million acres. Although mid-June is typically the cut-off date for corn plantings, many farmers may have continued to plant past this time because of rising prices. NASS will resurvey farmers in nine States in late July to better determine final plantings, and this information will be incorporated in the August survey-based forecast of area, yield, and production. OATS CROP FORECAST DOWN, BARLEY ABOUT THE SAME, SORGHUM PROJECTED HIGHER The first survey-based forecasts for 1995 barley and oats production were both down from prior projections. As with corn, very wet conditions prevented substantial amounts of barley and oats planting, and both crops are lagging normal development. The June 30 Acreage report showed lower plantings than the March intentions used in June projections. The oats harvest is forecast at 182 million bushels, a drop of 18 million from last month. Lower acreage accounts for all of the reduction, with the largest decline occurring in South Dakota, the second largest producing State in the last 2 years. Barley production is forecast at 379 million bushels, down just 1 million from last month, despite lower acreage. North Dakota had the biggest drop in planted acres, followed by South Dakota and Minnesota. The declines were partly offset by higher barley plantings in the western States, slightly boosting average yield prospects. Sorghum production in 1995 is projected at 576 million bushels, up 21 million from last month due to higher acreage, but still down 79 million bushels from 1994. Planted sorghum acreage increased slightly, possibly reflecting some intended corn land switched to sorghum. PRICE OUTLOOK CONTINUES TO STRENGTHEN Ending stocks of corn in 1995/96 are projected at 725 million bushels, down 23 million from last month, with a stocks-to-use ratio of 8.5 percent. The smaller projected crop and a reduction in forecast carryin stocks of 33 million bushels were only partially offset by lower prospective use. Industrial demand for corn is traditionally price inelastic, suggesting other users will make most of the adjustments to short supplies. Despite large animal inventories, feed and residual use is expected to decline more than exports this year. The tighter supply outlook has led to further increases in expected prices. The season average farm price for corn is projected at $2.55 to $2.95 a bushel, up a dime on both ends from last month. Even at the bottom of the range, this would exceed the $2.50 price reached in the flood year of 1993/94 and would even eclipse the $2.54 of the drought year of 1988/89. For the next month or so, until most of the crop goes through its critical reproductive phase, the market promises to remain quite volatile, reacting strongly to weather news. For example, on June 26, most futures contracts went close to or down the daily limit when a favorable weather forecast was released. The strong corn price will also pull up the other feed grain prices. The season average farm price for sorghum in 1995/96 is now projected at $2.40 to $2.80 a bushel, also up 10 cents, and the highest since 1983/84. The all barley price is similarly projected up a dime at both ends of the range to $2.30 to $2.70 a bushel, with oats up a nickel to $1.40 to $1.80 a bushel. In both cases, these would be the highest prices since 1989/90. Final prices for 1994/95 barley and oats were $2.03 and $1.22 per bushel, respectively. The feed barley price was $1.83 per bushel and the malting barley price was $2.27. The malting barley premium of 44 cents was down from 55 cents in 1993/94 and down from the average 57 cents of 1989-1993. FEED AND RESIDUAL USE EXPECTED TO CONTRACT FURTHER Feed and residual use of the four feed grains plus wheat during September 1995-August 1996 is expected to total 150 million metric tons, down from 168 million estimated for 1994/95. The feed per grain consuming animal unit (GCAU) may total 1.73 tons, down from 1.98 forecast for 1993/95 but above the 1.60 calculated for 1988/89. GCAU's in 1995/96 are expected to increase 2.5 percent from 1994/95. The index of animal units has been increased this year by a rise in the number of hogs and beef cattle, and increases in the poultry sector. Cattle on feed in the 7 monthly reporting States on June 1, 1995, were up 4 percent from a year earlier, and those in feedlots larger than 1,000 head were up 6 percent. Cattle on feed during the remainder of 1995 are likely to remain above a year earlier. Higher feed prices could shift placements somewhat if cattle are kept on grass longer. Still, cattle will be fed to make grade, so days on feed will change only modestly. Inventories of all hogs and pigs on March 1, 1995, were up 2 percent from a year earlier, but on June 1, inventories were down 1 percent as producers adjusted. The number of sows farrowing in March-May, 1995 was 96 percent of a year earlier, but producers intend to farrow 98 percent of a year earlier in June-August, and 101 percent of a year earlier in September-November. If producers carry through with these intentions, feed needs would increase in 1996. The demand for feed by the dairy sector is expected to continue to increase since cow numbers in the 22 monthly reporting States in May were virtually unchanged from last year. Milk per cow in May was up 1 percent from 1994. The poultry sector, especially the broiler industry, continues to expand. Thus, its feed needs are expected to continue to grow in 1995. In 1993/94, the livestock and poultry industries were faced with short supplies and were able to adjust by importing feed and adjusting feed needs. In addition, exports were reduced, helping to increase feed supplies. Unlike 1993/94, supplies of feed wheat will not be available for feeders to import if local feed is not available. Asian importers may not feel the full impact of the price increases because of favorable exchange rates. With livestock producers continuing to expand production, corn may be particularly tight, forcing feeders to attempt to use alternative feedstuffs, particularly higher quality forage. FLOOD'S IMPACT ON TRANSPORTATION LESS SEVERE THAN IN 1993 Flood waters at St. Louis, MO peaked in May, but declined steadily through June to average 31.6 feet at the gauge for the month. The receding water caused navigational problems and the U.S. Coast Guard imposed a variety of restrictions on barge traffic. In the first week of July, the St. Louis flood gauge posted 22.4 feet, 50 percent below the same month of 1993, a year of longer lasting floods. Still, the river problems contributed markedly to reduced grain and oilseed exports through the Mississippi River ports, where exports for June are estimated down nearly 60 percent from the prior month. Total grain and oilseed exports from all ports slipped only an estimated 35 percent. Silt carried by flood waters to the mouth of the Mississippi caused bar pilots for the Port of New Orleans to lower recommended draft levels for vessels transiting the Southwest Pass of the river. The new recommended draft for vessels of less than 100,000 tons capacity is 44 feet, down from 48 feet. Data for grain movements through Lock and Dam 27 during most of June are not available. Flooding conditions and U.S. Coast Guard restrictions likely reduced flows below May levels. For the last week of June, with navigation unimpaired, 1.1 million short tons of grain passed through the locks. In comparison, June 1994's volume averaged 372,000 short tons per week. Grain shipments on the Ohio River averaged 144,000 short tons per week during June, up 33 percent from May and 194 percent above June 1994. The Illinois River will be closed to barge traffic between Lockport and Marseilles, IL from July 11 to September 9, 1995. The previously announced closure is needed to accomplish major rehabilitation of four locks. Over the past 10 years, Illinois River traffic in August, averaged 23 percent of total Illinois and Mississippi waterways volume. Rail car loadings of grain and oilseeds averaged 28,449 cars per week during June, up 10 percent from May and 25 percent above June 1994. No significant diversion from barge is evident. 1995/96 CORN EXPORTS UNCHANGED DESPITE TIGHTENING SUPPLIES U.S. corn exports for 1995/96 are projected unchanged from June at 1.875 billion bushels (47.6 million tons). Forward buying for 1995/96, as measured by outstanding export sales, stood at over 6 million tons as of June 29, the highest level since a similar point in 1979. Foreign importers began stepping up their pace of forward purchases as news of a lower U.S. crop made it clear that 1995/96 prices would not soften significantly. Futures prices had been moving upwards until the last week in June. When prices dropped sharply on June 26, buyers from Japan, South Korea and Taiwan took advantage by buying a huge amount of corn. Global corn import projections remain virtually unchanged from the June forecast, despite tightening U.S. supplies and rising prices. World trade is projected to fall 7 percent from 1994/95, in part because of a projected 2-million-ton decline in China's imports and because high prices are expected to discourage imports in many countries, particularly in North Africa and the Middle East. But the lower value of the dollar relative to Asian currencies will help offset rising prices and relatively high freight rates. Asian demand for feed grains appears relatively price inelastic. With limited availability of other coarse grains and feed wheat, Asian buyers will have few alternatives to U.S. corn. NEW BARLEY EEP PROGRAM ANNOUNCED On June 30, USDA announced EEP allocations for barley for a 3 month period beginning in July. A total of 650,000 tons (about 30 million bushels) of barley was allocated, and another 35,625 tons of barley malt was also announced. The largest allocations were to Israel (150,000 tons), Saudi Arabia (125,000 tons), and Algeria (100,000 tons). The allocation period was set for only 3 months rather than the whole marketing year because USDA is reviewing proposed changes to the EEP program. The changes are expected to be announced later in the year. 1994/95 CORN USE FORECAST RAISED Corn stocks in all positions reported on June 1, 1995, were 3.42 billion bushels, in line with most expectations and confirming the strong pace of use in 1994/95. Disappearance for the March-May quarter exceeded 2 billion bushels for the first time. (Table 1 contains supply and use estimates by quarter.) U.S. corn disappearance for 1994/95 is forecast up 35 million bushels from last month due to higher exports and FSI use. Forecast exports were raised 25 million bushels from June to 2.1 billion bushels as the pace of sales and shipments continues strong, especially to Asian countries such as Taiwan. Export prices have been rising since February. June export prices ($119 per ton for No. 2 yellow corn f.o.b. Gulf) were reported up 6 percent from a year ago, and the highest since March 1994. Forecast exports of sorghum in 1994/95 were reduced 10 million bushels this month to 210 million, largely due to slow sales to Japan. FSI use of corn was increased 10 million bushels to 545 million because of higher corn use for ethanol production in the first three quarters of the marketing year. Even though one ethanol producer has recently ceased production, output is expected to be higher than originally forecast. Stocks of barley and oats on June 1, at the end of the 1994/95 marketing year, were 112.6 million bushels and 100.6 million, respectively. In the case of barley, this was the lowest since the mid-1970's, while oats stocks were the lowest since 1988/89. ****************************************************************************** * Information Contacts: * * * * Pete Riley (202) 501-8512 T.Q. Hutchinson (202) 219-0353 * * Allen Baker (202) 219-0839 Nancy Morgan (202) 501-8511 * * Sara Schartz (202) 501-8514 * * * * The next Feed Outlook will be released August 14, 1995. * * * ****************************************************************************** Table 1--Feed Grains: Marketing year supply and disappearance 1/ ------------------------------------------------------------------------------- Year/ Beg. Produc- Im- Supply FSI Feed & Ex- Total End. Farm Qtr. stocks tion ports resid. ports disp. stks. price ------------------------------------------------------------------------------- CORN -------------------------Million bushels--------------------- $/bu 1993/94 Sep-Nov 2,113 6,336 5 8,455 378 1,705 435 2,518 5,937 2.34 Dec-Feb 5,937 --- 8 5,945 371 1,248 330 1,949 3,996 2.71 Mar-May 3,996 --- 6 4,002 419 954 270 1,642 2,360 2.67 Jun-Aug 2,360 --- 1 2,361 420 798 293 1,511 850 2.35 Mkt. yr. 2,113 6,336 21 8,470 1,588 4,704 1,328 7,620 850 2.50 1994/95 Sep-Nov 850 10,103 2 10,955 410 2,015 449 2,875 8,080 2.07 Dec-Feb 8,080 --- 4 8,084 403 1,499 590 2,493 5,592 2.18 Mar-May 5,592 --- 4 5,595 448 1,157 575 2,180 3,416 2.34 Jun-Aug 3,416 --- 3 3,418 449 979 485 1,913 1,505 Mkt. yr. 850 10,103 12 10,965 1,710 5,650 2,100 9,460 1,505 2.20-2.30 1995/96 Mkt. yr. 1,505 7,785 10 9,300 1,775 4,925 1,875 8,575 725 2.55-2.95 SORGHUM 1993/94 Sep-Nov 175 534 0 709 2 222 39 263 446 2.22 Dec-Feb 446 --- 0 446 2 108 60 170 276 2.59 Mar-May 276 --- 0 276 3 82 64 148 128 2.39 Jun-Aug 128 --- 0 128 2 41 38 81 48 2.10 Mkt. yr. 175 534 0 709 8 453 202 662 48 2.31 1994/95 Sep-Nov 48 655 0 703 2 214 64 280 422 1.91 Dec-Feb 422 --- 0 422 1 79 61 142 281 2.02 Mar-May 281 --- 0 281 2 71 50 123 158 2.16 Jun-Aug 158 --- 0 158 2 35 35 72 86 Mkt. yr. 48 655 0 703 7 400 210 617 86 2.05-2.15 1995/96 Mkt. yr. 86 576 0 662 7 410 200 617 45 2.40-2.80 ------------------------------------------------------------------------------- Table 1--Feed Grains: Marketing year supply and disappearance, (cont.) 1/ ------------------------------------------------------------------------------- Year/ Beg. Produc- Im- Supply FSI Feed & Ex- Total End. Farm Qtr. stocks tion ports resid. ports disp. stks. price ------------------------------------------------------------------------------- BARLEY -----------------------Million bushels--------------------- $/bu 1993/94 Jun-Aug 151 398 3 552 43 92 15 150 403 1.91 Sep-Nov 403 --- 11 413 38 27 15 80 333 2.02 Dec-Feb 333 --- 24 357 38 83 12 133 224 2.16 Mar-May 224 --- 34 258 56 40 24 119 139 2.21 Mkt. yr. 151 398 71 621 175 241 66 482 139 1.99 1994/95 Jun-Aug 139 375 24 538 43 122 20 186 352 2.00 Sep-Nov 352 --- 14 366 38 30 19 87 279 1.98 Dec-Feb 279 --- 14 292 38 51 11 99 193 2.05 Mar-May 193 --- 14 206 56 23 16 94 113 2.15 Mkt. yr. 139 375 65 579 175 226 65 466 113 2.03 1995/96 Mkt. yr. 113 379 70 561 175 235 50 460 101 2.30-2.70 OATS 1993/94 Jun-Aug 113 207 17 337 32 84 1.5 118 219 1.35 Sep-Nov 219 --- 35 254 29 30 0.7 60 194 1.33 Dec-Feb 194 --- 31 225 27 51 0.5 79 147 1.42 Mar-May 147 --- 24 170 37 28 0.2 65 106 1.39 Mkt. yr. 113 207 107 427 125 193 3.0 321 106 1.36 1994/95 Jun-Aug 106 230 20 356 32 104 0.2 136 220 1.19 Sep-Nov 220 --- 34 254 30 32 0.2 62 192 1.19 Dec-Feb 192 --- 23 215 28 38 0.4 66 149 1.21 Mar-May 149 --- 18 167 36 30 0.2 66 101 1.36 Mkt. yr. 106 230 95 430 125 204 1.0 330 101 1.22 1995/96 Mkt. yr. 101 182 110 392 125 175 1 301 91 1.40-1.80 ------------------------------------------------------------------------------- Totals may not add due to rounding. 1/ Corn and sorghum are on a September 1 to August 31 marketing year. Barley and oats are on a June 1 to May 31 marketing year. Table 2--Feed and residual use of wheat and coarse grains ------------------------------------------------------------------------------ Year Feed Total Animal Feed/ Beginning Corn Sorg. Barley Oats Grains Wheat grains Units animal September 1 unit ------------------------------------------------------------------------------ -------------------Million ---------------------- Mil. Tons 1992/93 Sep-Nov 46.3 6.8 0.3 0.5 53.9 -2.2 51.7 Dec-Feb 36.0 1.7 1.0 0.7 39.4 0.1 39.5 Mar-May 29.4 2.0 0.5 0.6 32.5 -2.0 30.4 Jun-Aug 22.8 1.4 2.0 1.2 27.5 8.1 35.5 Mkt. yr. 134.5 11.9 3.8 3.0 153.2 3.9 157.1 82.7 1.90 % Change 8.6 25.3 -23.5 -7.9 8.2 -37.9 6.3 2.5 3.66 1993/94 Sep-Nov 43.3 5.6 0.6 0.4 50.0 -1.0 48.9 Dec-Feb 31.7 2.7 1.8 0.7 37.0 1.1 38.0 Mar-May 24.2 2.1 0.9 0.4 27.6 -0.7 26.9 Jun-Aug 20.3 1.0 2.7 1.5 25.5 10.2 35.7 Mkt. yr. 119.5 11.5 5.9 3.1 140.0 9.6 149.5 84.0 1.78 % Change -11.2 -3.4 56.5 3.0 -8.6 144.9 -4.8 1.6 -6.3 1994/95 Sep-Nov 51.2 5.4 0.7 0.5 57.8 -0.8 57.0 Dec-Feb 38.1 2.0 1.1 0.6 41.8 0.7 42.5 Mar-May 29.4 1.8 0.5 0.4 32.1 -1.3 30.8 Jun-Aug 24.8 0.9 2.0 1.3 29.0 8.8 37.8 Mkt. yr. 143.5 10.2 4.22 2.8 160.7 7.4 168.1 84.8 1.98 % Change 20.1 -11.6 -28.6 -10.6 14.8 -22.3 12.4 1.0 11.3 1995/96 Mkt. yr. 125.1 10.4 5.1 2.5 143.2 6.8 150.0 86.8 1.73 % Change -12.8 2.5 21.2 -7.9 -10.9 -8.5 -10.8 2.3 -12.8 ------------------------------------------------------------------------------ Table 3--Grain shipments and rates ------------------------------------------------------------------------------- 1992/93 ---------1993/94---------- ----1994/95---- Mkt. Yr. Mkt. Yr. Sep-May May Sep-May May ------------------------------------------------------------------------------- Barge shipments 1/ 2.5 2.8 2.7 2.8 2.8 3.1 (Million ton/month) Barge rate index 2/ 108.9 93.6 95.1 77.0 155.4 128.4 (Dec 1984 = 100) Railcar loadings 3/ 28.0 25.5 25.8 21.9 28.4 26.0 (1,000 cars/week) Rail rate index 2/ 113.8 115.2 115.5 115.1 116.8 117.7 (Dec 1984 = 100) ------------------------------------------------------------------------------- 1/ Illinois & Mississippi rivers. Includes soybeans and all grains. Source: U.S. Army Corps of Engineers 2/ Source: Bureau of Labor Statistics 3/ Includes soybeans and all grains. Source: Association of American Railroads. Table 4--Cash feed grain prices ------------------------------------------------------------------------------ Corn, Corn, Sorghum, Sorghum, Barley, Barley, Oats, No. 2, No. 2, No. 2, No. 2, No. 2, No. 3 or No. 2, Yel, Yel, Yel, Yel, feed, better, Heavy Ctrl. Gulf Texas Gulf Duluth Malting, white, IL ports high pl. ports Minn. Minn. 1/ ------------------------------------------------------------------------------ Mkt. yr. $/bu $/bu $/cwt $/cwt $/bu $/bu $/bu 1992/93 2.12 2.46 4.06 4.27 2.11 2.37 1.58 1993/94 2.55 2.85 4.95 4.91 2.05 2.48 1.55 Monthly 1993/94 Feb 2.83 3.14 5.35 5.41 2.16 2.63 1.52 Mar 2.76 3.05 5.12 5.22 2.07 2.65 1.55 Apr 2.61 2.88 4.80 4.89 2.08 2.73 1.46 May 2.58 2.81 4.90 4.88 2.11 2.84 1.37 1994/95 Feb 2.27 2.72 4.48 4.63 2.06 2.82 1.42 Mar 2.36 2.79 4.63 4.67 2.02 2.85 1.54 Apr 2.41 2.79 4.68 4.70 1.97 NQ 1.62 May 2.50 2.84 4.93 4.90 2.11 NQ 1.76 ------------------------------------------------------------------------------ 1/ Reporting point changed from Texas High Plains to South Panhandle starting January 1991. Table 5--Selected feed and feed by-product prices ------------------------------------------------------------------------------- Soybean Cotton- Corn Corn Meat & Dists.' Wheat Alfalfa meal seed gluten gluten bone dried midlgs, farm 44% slv. meal, feed, meal, meal, grains, Kansas price Decatur, 41% slv. IL IL Kansas Lawrence- City IL Memphis pts. pts. City burg, IN 1/ ------------------------------------------------------------------------------- -------------------------------$/ton--------------------------------- Mkt. yr. 1992/93 180.80 159.22 95.95 284.60 220.93 122.84 69.69 78.20 1993/94 181.82 168.36 88.62 286.61 206.81 123.79 81.51 89.30 Monthly 1993/94 Feb 184.40 173.10 87.60 296.25 209.70 130.00 101.90 93.20 Mar 182.00 174.00 88.60 288.50 204.70 127.00 83.90 95.60 Apr 176.40 166.25 89.90 278.10 198.10 122.00 75.60 95.20 May 181.10 157.75 91.00 263.50 207.50 118.40 66.40 105.00 1995 Feb 149.40 97.50 81.00 221.25 181.00 97.00 62.50 94.20 Mar 145.70 100.30 82.10 215.60 180.75 93.75 73.90 94.20 Apr 151.00 98.10 77.40 206.25 160.60 93.50 55.75 95.20 May 148.10 92.75 78.50 196.50 159.60 98.00 49.70 96.30 ------------------------------------------------------------------------------- 1/ Reporting point changed from Kansas City to Central U.S. starting December 1 Table 6--Corn: Food and industrial uses --------------------------------------------------------------------------- Glucose Cereals and ---Alcohol--- & other Year HFCS dextrose Starch Fuel Beverage products Total --------------------------------------------------------------------------- Million bushels 1992/93 Sep-Nov 92.33 54.45 58.83 104.36 20.70 29.17 359.84 Dec-Feb 88.36 47.21 57.70 107.47 20.50 28.85 350.09 Mar-May 110.36 55.06 59.34 110.91 21.15 29.64 386.46 Jun-Aug 122.99 57.74 62.16 102.77 20.95 29.64 396.25 Mkt year 414.04 214.47 238.03 425.51 83.30 117.30 1492.65 1993/94 Sep-Nov 98.23 55.79 61.71 112.23 20.69 29.42 378.08 Dec-Feb 95.00 49.58 57.60 119.33 20.47 29.10 371.07 Mar-May 117.68 56.79 61.57 112.44 20.92 29.74 399.15 Jun-Aug 131.28 60.89 62.66 114.26 20.92 29.74 419.74 Mkt year 442.18 223.05 243.54 458.26 83.00 118.00 1,568.04 1994/95 Sep-Nov 104.16 58.79 62.63 134.45 20.84 29.42 410.28 Dec-Feb 99.91 51.52 60.12 141.50 20.61 29.10 402.76 Mar-May 123.28 58.49 61.45 137.75 21.07 29.74 431.78 Jun-Aug 137.66 61.20 65.81 131.30 21.07 29.74 446.78 Mkt year 465.00 230.00 250.00 545.00 83.60 118.00 1,691.60 1995/96 Mkt year 480.00 235.00 255.00 583.00 84.00 118.00 1,755.00 --------------------------------------------------------------------------- Table 7--Wholesale corn milling product and by-product prices ------------------------------------------------------------------------------ Corn meal, Brewers' Sugar, HFCS, 42% Corn yellow, grits, destrose, tank cars, starch, New York Chicago Midwest Midwest fob Midwest ------------------------------------------------------------------------------ $/cwt $/cwt cents/lb cents/lb $/cwt Mkt. yr. 1992/93 13.39 9.68 24.50 13.30 10.70 1993/94 14.49 10.98 25.44 14.63 12.61 1994/95 1/ 13.17 10.55 25.74 13.29 12.18 Monthly 1994 Mar 14.92 11.17 26.00 14.28 13.61 Apr 14.77 11.06 26.00 15.85 13.31 May 14.65 11.00 26.00 15.85 12.95 Jun 14.75 11.38 26.00 15.85 12.80 1995 Mar 13.13 10.58 25.50 11.80 12.32 Apr 13.17 10.62 25.50 11.80 12.65 May 13.22 10.67 25.50 11.80 12.89 Jun 1/ 13.58 11.03 25.50 11.67 13.22 ------------------------------------------------------------------------------ 1/ Preliminary. Table 8--U.S. feed grain exports by selected destinations 1/ ------------------------------------------------------------------------------ Country/region ------1992/93------ ------1993/94------ 1994/95 Mkt. yr. Sep-April Mkt. yr. Sep-April Sep-April ------------------------------------------------------------------------------ CORN --------------------Thousand tons--------------------- Japan 14,138 9,743 12,214 9,125 10,200 Taiwan 5,333 3,772 5,077 3,935 3,919 Former USSR 4,721 3,353 2,909 2,821 55 South Africa 2,354 2,354 12 12 0 Sub-Saharan Africa 3,955 3,914 394 82 372 EU 1,378 1,037 1,765 1,339 1,776 Egypt 1,397 824 1,553 976 1,941 Canada 1,247 979 603 251 574 China 1,103 0 0 0 1,479 East Europe 0 846 48 48 0 Algeria 1,076 699 1,176 866 867 S. Korea 991 868 508 142 5,262 Mexico 506 451 1,468 452 2,187 Others 3,951 2,558 9,463 4,332 6,876 Total 42,150 31,400 37,191 24,379 35,508 SORGHUM Mexico 4,147 3,385 2,942 1,912 1,661 Japan 1,922 1,585 1,640 1,346 1,568 Others 809 680 432 368 723 Total 6,878 5,650 5,014 3,626 3,952 ---------------------------------------------------------- ------1992/93------ ------1993/94------ 1994/95 Mkt. yr. Jun-April Mkt. yr. Jun-April Jun-April BARLEY ---------------------------------------------------------- Saudi Arabia 579 579 344 203 168 Israel 263 189 335 298 448 Jordan 195 195 251 251 51 Others 711 262 504 481 577 Total 1,748 1,226 1,433 1,234 1,244 ------------------------------------------------------------------------------ Totals may not add due to rounding. Source: Bureau of the Census Table 9--U.S. imports by country of origin ------------------------------------------------------------------------------ Country/region ------1992/93------ ------1993/94------ 1994/95 Mkt. yr. Jun-April Mkt. yr. Jun-April Jun-April ------------------------------------------------------------------------------ OATS --------------------Thousand tons--------------------- Canada 625 566 1,011 876 1,065 Finland 119 69 526 484 374 Sweden 116 116 303 291 70 Other 87 65 0 0 0 Total 1/ 947 816 1,840 1,651 1,509 BARLEY, MALTING Canada 150 136 453 382 632 Other 0 1 0 0 0 Total 1/ 151 137 453 382 632 BARLEY, OTHER 2/ Canada 97 90 1,098 924 684 Other 0 0 5 0 16 Total 1/ 97 90 1,103 924 700 ------------------------------------------------------------------------------ 1/ Totals may not add due to rounding. 2/ Mainly consists of barley for feeding, includes seed barley starting January 1994. Source: Bureau of the Census