FEED OUTLOOK December 13, 2001 December 2001 FDS-1201 Approved by the World Agricultural Outlook Board ------------------------------------------------------------------------------- The Economic Research Service, U.S. Department of Agriculture, Washington, DC 20036-5831, issues FEED OUTLOOK 11 times a year. Electronic release only, no published copies are available. FEED OUTLOOK is supplemented by an annual FEED YEARBOOK. The yearbook summary for 2001 was released on April 25, 2001. Yearbooks are available in print from USDA Order Desk. For the 2001 issue, call 1-800-999-6779 (703-605-6220) and ask for stock #ERS-FDS-2001, $21. ------------------------------------------------------------------------------- LOWER FEED GRAIN PRODUCTION IN 2001 RESULTS IN MODEST PRICE INCREASES There were no changes made this month to the supply or demand forecasts for any of the feed grains. Feed grain production is down from last year because of smaller corn, barley, and oats crops. Corn production is expected to total more than 9.5 billion bushels, 4 percent lower than last year's crop. Corn use is expected to be record-large boosted by increased ethanol production, exports, and continued strong feed and residual use. Sorghum production is expected to be up from last year with increased yields and harvested area. A large drop in harvested area is the primary cause of the year-to-year production decline for both barley and oats. Production was hampered by weather problems that extended up into Canada. Average farm prices have also risen from last year and are expected to be the highest level since 1997/98 for both crops. On the international front, several significant but offsetting changes in 2001/02 corn trade forecasts left U.S. export prospects unchanged. Prevented planting in Argentina, caused by excessive rains, have reduced corn area and production prospects by 1.5 million tons this month to 12 million. This, in turn, drops export prospects by 1.5 million tons. However, this reduction was offset by an increase in Brazil's corn exports. China's reported cancellation of corn export sales and recent purchases of U.S. corn underlie this month's trade forecast changes. Feed compounders and other importers are expected to have easier access to world markets after joining the World Trade Organization (WTO). However, there is significant uncertainty because the mechanisms for distributing import quotas are not yet in place. A number of changes coalesced to offset the 1.8- million-ton shift in China's net export position. NO CHANGES MADE TO 2001/02 SUPPLY AND DEMAND ESTIMATES There were no changes made this month to the supply or demand forecasts for any of the feed grains. Next month, USDA will release preliminary final production estimates for corn and sorghum as well as a stocks report. The 2001/02 feed grain supply is projected at 318.2 million tons and feed grain utilization is projected at 274.3 million tons. Total corn supply remains projected at 11.5 billion bushels and corn utilization remains projected at 9.9 billion bushels. Corn exports are projected at 2 billion bushels, up nearly 6 percent from a year earlier. The only changes to this month's WASDE are the following minor adjustments made to 2001/02 feed grain prices: O Corn prices narrowed 5-cents on both ends to $1.85-$2.15 O Sorghum prices narrowed 5-cents on both ends to $1.85-$2.15 O Barley prices narrowed 5-cents on both ends to $2.15-$2.35 O Oats prices raised 10-cents on the low end to $1.30-$1.40 CORN COMPETITION SHIFTS, NO BOOST IN U.S. EXPORT PROSPECTS Several significant changes in 2001/02 forecasts for corn trade were mostly offsetting leaving U.S. export prospects unchanged. Prevented planting in Argentina, caused by excessive rains, have reduced corn area and dimmed the yield potential of late-planted corn. Thus, the production forecast for Argentina is reduced 1.5 million tons this month to 12 million. This, in turn, drops October/September export prospects by 1.5 million tons to 8.5 million. However, this reduction was offset by an increase in Brazil's corn exports that are expected to be shipped during the 2001/02 October/September international marketing year. The pace of Brazil's corn sales and shipments during recent months indicate that exports from last year's record corn crop will be 1.0 million tons larger than previously forecast. However, less was shipped prior to the beginning of the October/September 2001/02 trade year, boosting Brazil's 2001/02 (October/September) corn export forecast by 1.5 million tons. Similarly, South Africa's 2001/02 (October/September) corn export forecast increased 0.2 million because more old-crop exports are expected to be shipped after October 1. China's reported cancellation of corn export sales and recent purchases of U.S. corn underlie this month's trade forecast changes that radically reduce China's net export position. Forecast 2001/02 exports were reduced this month by 1.0 million tons to 3.0 million. China's 2001/02 forecast corn imports are up 0.8 million tons this month to 1.0 million because of recent purchases. Feed compounders and other importers are expected to have easier access to world markets after joining the WTO. However, there is significant uncertainty because the mechanisms for distributing import quotas are not yet in place. A number of changes coalesced to offset the 1.8-million-ton shift in China's net corn trade. Statistics Canada's survey-based estimate of Canada's corn and barley production is up 1.0 million tons from previous forecasts. Forecast 2001/02 corn imports for Canada were reduced 0.7 million tons this month. Hungary's corn crop forecast increased 0.3 million tons to 7.3 million as harvest reports indicated a larger than expected crop. This, in turn, boosted Hungary's export prospects by 0.3 million tons to 1.8 million. Taiwan's entry into the WTO is expected to generate increased meat imports, lowering Taiwan's meat production and reducing corn imports. This month, Taiwan's import forecast was reduced 0.3 million tons to 4.7 million. South Korea's forecast corn imports were also reduced 0.3 million tons this month because of larger expected purchases of feed wheat. Also, Japan's corn import forecast declined 0.2 million to 15.5 million because of an increase in expected imports of sorghum from Australia. U.S. 2001/02 corn exports remain forecast at 52 million tons, up 8 percent from the previous year. According to U.S. Export Sales, as of November 29, outstanding corn sales were up 24 percent, but shipments during the first months of the year were down. Forecast 2001/02 global coarse grain production increased less than 1 million tons this month to 873 million. Harvest reports from a number of countries in the former Soviet Union boosted the regions' coarse grain production by over 1 million tons. Production increases for Canada, the former Soviet Union, European Union (EU), and several others were partly offset by reductions for Argentina and India, which forecast a lower than expected corn crop. Projected global coarse grain disappearance is down almost 2 million tons this month to 893 million, mostly because of reduced corn consumption in India and Brazil, but also because of reductions in South Korea, Taiwan, and Japan. Increased world production and reduced use combine to boost projected global coarse grain ending stocks almost 2 million tons to 167 million tons. Even with this month's modest upward revision, global coarse grain ending stocks in 2001/02 are forecast down more than 20 million tons from year-earlier levels. Following the even larger drop in global stocks in 2000/01 and a small decline in 1999/2000, world coarse grain stocks are projected 48 million tons lower than 3 years earlier and the lowest since 1995/96. LDPs AND MARKETING LOAN GAINS DECLINE IN 2001/02 The marketing assistance loan program is the primary government program that assists farmers when market prices are low. The key provisions of the marketing assistance loan program are "nonrecourse marketing assistance loans" and "loan deficiency payments" (LDPs). Other government support programs affecting feed grain farmers include production flexibility contract (PFC) payments, subsidized crop and revenue insurance, trade promotion programs, food aid, and export credit guarantees, as well as (in recent years) emergency market loss assistance payments. Producers that entered into Production Flexibility Contracts (PFCs) with USDA are eligible to participate in the marketing assistance loan program. Below is a discussion of the marketing loan program as it pertains to feed grains. Consult the Economic Research Service (ERS) farm and commodity briefing room (www.ers.usda.gov/briefing/FarmPolicy/) for more information about agricultural policy in general. Nonrecourse marketing assistance loans provide interim financing to eligible producers of feed grains and other commodities covered by the program. Producers pledge their feed grains as collateral and obtain a loan equivalent to the loan rate established in their county by the Farm Service Agency (FSA) of USDA. An up-to-date summary of the loan program can be obtained at the FSA website (www.fsa.usda.gov/pscad/selectLoanSummnat.asp). As of December 10, 2001, the following loans have been made for the 2001/02 crop: O 769 million bushels of corn (96 percent of these loans remain outstanding) O 11 million bushels of sorghum (nearly all remains outstanding) O 8.3 million bushels of barley (81 percent remains outstanding) O 1.6 million bushels of oats (80 percent remains outstanding). As of December 10, 2001, the following loans have been made for the 2000/01 crop: O 1.4 billion bushels of corn (2 percent remains outstanding) O 15 million bushels of sorghum (2 percent remains outstanding) O 16 million bushels of barley (3 percent remains outstanding) O 1.7 million bushels of oats (2 percent remains outstanding) Loans may be forfeited to the Commodity Credit Corporation at maturity or repaid at the loan repayment rate at or before maturity. The loan repayment rate may actually be less than the loan rate (plus interest) if the local price--referred to as the posted county price (PCP)--falls below the local loan rate (plus interest). The PCP-calculated each day the Federal Government is open--is based on terminal market prices and a fixed differential to each county, largely reflecting transportation and other marketing factors. When a farmer repays the loan at a PCP below the loan rate, the difference between the loan rate and PCP is called a "marketing loan gain." If the PCP is less than the county loan rate (plus accrued interest )on the day the producer repays the loan, accrued interest on the loan is waived. Up-to- date information on the level of marketing loan gains (as well as loan deficiency payments) can be obtained at the FSA web-site (www.fsa.usda.gov/pscad/Select82rnat.asp). As of December 5, 2001, the following quantities of grains have been repaid for the 2001/02 crop: O 25.6 million bushels of corn (market gain of $4 million or about 16-cents per bushel) O 38 thousand bushels of sorghum (market gain of $1,780 or about 5-cents per bushel) O 1.1 million bushels of barley (market gain of $116 thousand or about 11-cents per bushel) O 26 thousand bushels of oats (market gain of $1,380 or about 5-cents per bushel) As of December 5, 2001, the following quantities of grains have been repaid for the 2000/01 crop: O 1.3 billion bushels of corn (market gain of $227 million or about 18-cents per bushel) O 8.4 million bushels of sorghum (market gain of $1.8 million or about 21-cents per bushel) O 9.9 million bushels of barley (market gain of $1.7 million or about 17-cents per bushel) O 1.4 million bushels of oats (market gain of $296 thousand or about 21-cents per bushel) If the PCP is below the county loan rate, eligible producers may opt for an LDP in lieu of securing a loan. The LDP rate is the amount by which the county loan rate exceeds the PCP on the date the application is made. The feed grain cannot be placed under loan once an LDP is paid. If producers take the LDP and immediately sell their crop and if the PCP accurately reflects local prices, they effectively receive a per-unit revenue equal to the county loan rate, partly from the market and partly from the government. After an LDP is accepted, the farmer can sell the crop and avoid storage expenses or hold it in the expectation of a price rally later in the marketing season. Farmers can take LDPs until March 31 for barley and oats and May 31 for corn and Sorghum (the year following the year the grain is harvested. As of December 5, 2001, the following have received LDPs for the 2001/02 crop year: O 3.9 billion bushels of corn ($634 million in LDPs or 16-cents per bushel) O 61 million bushels of sorghum ($3.1 million in LDPs or 5-cents per bushel) O 114 million bushels of barley ($14 million in LDPs or 12-cents per bushel) O 12 million bushels of oats ($1.7 million in LDPs or 14-cents per bushel) The following have received LDPs for the entire 2000/01 crop year: O 8.3 billion bushels of corn ($2.4 billion in LDPs or 29-cents per bushel) O 288 million bushels of sorghum ($81 million in LDPs or 28-cents per bushel) O 245 million bushels of barley ($67 million in LDPs or 27-cents per bushel) O 152 million bushels of oats ($44 million in LDPs or 29-cents per bushel). ***************************************************************** Information Contacts: Allen Baker (202) 694-5290 William Chambers (202) 694-5312 International: Edward Allen (202) 694-5288 The next Feed Outlook will be released January 15, 2002. **************************************************************** 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 1999/2000 Sep-Nov 1,787 9,431 4 11,221 459 2,189 534 3,182 8,039 1.71 Dec-Feb 8,039 --- 3 8,043 447 1,526 468 2,441 5,602 1.91 Mar-May 5,602 --- 6 5,607 512 1,059 451 2,021 3,586 2.05 Jun-Aug 3,586 --- 2 3,588 496 890 485 1,871 1,718 1.64 Mkt. yr.1,787 9,431 15 11,232 1,913 5,664 1,937 9,515 1,718 1.82 2000/01 Sep-Nov 1,718 9,968 1 11,687 466 2,192 506 3,165 8,522 1.76 Dec-Feb 8,522 --- 1 8,523 465 1,599 416 2,480 6,043 1.97 Mar-May 6,043 --- 3 6,046 524 1,142 456 2,122 3,924 1.90 Jun-Aug 3,924 --- 1 3,925 512 956 559 2,027 1,899 1.85 Mkt. yr.1,718 9,968 7 11,693 1,967 5,890 1,937 9,794 1,899 1.85 2001/02 Mkt. yr.1,899 9,546 10 11,454 2,030 5,800 2,050 9,880 1,574 1.85-2.15 SORGHUM 1999/2000 Sep-Nov 65 595 0 660 18 228 65 311 349 1.45 Dec-Feb 349 --- 0 349 18 29 77 124 226 1.57 Mar-May 226 --- 0 226 13 22 64 99 127 1.82 Jun-Aug 127 --- 0 127 6 6 50 62 65 1.64 Mkt. yr. 65 595 0 660 55 284 256 595 65 1.57 2000/01 Sep-Nov 65 470 0 535 17 195 62 274 261 1.72 Dec-Feb 261 --- 0 261 11 11 72 94 167 1.94 Mar-May 167 --- 0 167 4 24 63 91 76 1.80 Jun-Aug 76 --- 0 76 3 (11) 42 35 42 2.02 Mkt. yr. 65 470 0 535 35 220 239 494 42 1.89 2001/02 Mkt. yr. 42 537 0 579 45 240 240 525 54 1.85-2.15 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 1999/2000 Jun-Aug 142 280 6 428 44 79 9 132 295 2.18 Sep-Nov 295 --- 5 300 39 24 10 73 228 2.04 Dec-Feb 228 --- 9 237 37 23 7 67 170 2.14 Mar-May 170 --- 7 178 52 10 4 66 111 2.19 Mkt. yr. 142 280 28 450 172 136 30 338 111 2.13 2000/01 Jun-Aug 111 319 7 437 44 91 8 143 294 2.28 Sep-Nov 294 --- 5 299 39 6 25 70 229 1.95 Dec-Feb 229 --- 8 237 37 22 16 75 162 2.10 Mar-May 162 --- 9 171 52 4 8 65 106 2.08 Mkt. yr. 111 319 29 459 172 123 58 353 106 2.11 2001/02 Jun-Aug 106 250 8 364 44 64 11 118 245 2.25 Mkt. yr. 106 250 25 381 172 95 30 297 84 2.15-2.35 OATS 1999/2000 Jun-Aug 81 146 22 249 17 84 0.6 101 148 1.05 Sep-Nov 148 --- 34 182 16 32 0.3 49 134 1.08 Dec-Feb 134 --- 23 157 14 40 0.2 55 102 1.22 Mar-May 102 --- 20 122 21 24 0.7 46 76 1.31 Mkt. yr. 81 146 99 326 68 180 1.8 250 76 1.12 2000/01 Jun-Aug 76 150 21 247 17 79 0.4 96 150 1.03 Sep-Nov 150 --- 37 187 16 27 0.5 43 144 1.04 Dec-Feb 144 --- 28 172 14 48 0.5 62 110 1.22 Mar-May 110 --- 20 130 21 36 0.4 57 73 1.27 Mkt. yr. 76 150 106 332 68 189 1.7 259 73 1.10 2001/02 Jun-Aug 73 117 18 207 17 74 0.8 92 116 1.30 Mkt. yr. 73 117 90 280 68 155 2.0 225 55 1.30-1.40 ------------------------------------------------------------------------------ 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 metric tons --------------- Mil. Tons 1999/00 Sep-Nov 55.6 5.8 0.5 0.6 62.5 -0.2 62.3 Dec-Feb 38.8 0.7 0.5 0.6 40.6 0.8 41.4 Mar-May 26.9 0.6 0.2 0.4 28.1 -0.3 27.8 Jun-Aug 22.6 0.1 2.0 1.2 25.9 8.8 34.8 Mkt. yr. 143.9 7.2 3.2 2.8 157.1 9.1 166.2 88.8 1.87 2000/01 Sep-Nov 55.7 5.0 0.1 0.5 61.3 -0.6 60.6 Dec-Feb 40.6 0.3 0.5 0.8 42.2 0.1 42.3 Mar-May 29.0 0.6 0.1 0.6 30.3 -0.2 30.1 Jun-Aug 24.3 -0.3 1.4 1.1 26.5 6.7 33.2 Mkt. yr. 149.6 5.6 2.1 3.0 160.2 6.0 166.2 89.2 1.86 2001/02 Mkt. yr. 147.3 6.1 2.2 2.5 158.1 6.2 164.3 89.5 1.84 ------------------------------------------------------------------------------ Source: USDA, Economic Research Service. Table 3--Cash feed grain prices ------------------------------------------------------------------------------ Corn, Corn, Sorghum, Sorghum, Barley, Barley, Oats, No. 2, No. 2, No. 2, Yel No. 2, No. 2, No. 3 or No. 2, Yel, Yel, Texas Yel, feed, better, Heavy Ctrl. Gulf South Gulf Duluth Malting, white, IL ports Panhandle ports Minn. Minn. 1/ 1/ 1/ 1/ 2/ 2/ 2/ ------------------------------------------------------------------------------ Mkt. yr. $/bu $/bu $/cwt $/cwt $/bu $/bu $/bu 98/99 1.97 2.35 3.78 3.97 1.23 2.30 1.34 99/00 1.86 2.23 3.36 3.79 NQ NQ 1.26 00/01 3/ 1.91 2.29 3.87 4.35 1.47 2.37 NQ Monthly: 2000: Jul 1.53 1.91 3.37 3.34 NQ NQ NQ Aug 1.49 1.91 2.88 3.46 NQ NQ NQ Sep 1.58 2.03 3.68 3.75 NQ NQ NQ Oct 1.81 2.15 3.95 4.06 1.30 2.24 NQ 2001: Jul 1.92 2.30 4.28 4.22 1.49 NQ NQ Aug 2.00 2.36 4.28 4.34 1.49 2.35 NQ Sep 1.94 2.27 4.23 4.28 1.48 2.34 NQ Oct 3/ 1.84 2.19 4.03 4.29 1.50 2.42 NQ ------------------------------------------------------------------------------ 1/ Marketing year beginning September 1. 2/ Marketing year beginning June 1. 3/ Preliminary. NQ = No quote. Table 4--Selected feed and feed by-product prices ------------------------------------------------------------------------------ Soybean Cotton- Corn Corn Meat & Dists.' Wheat Alfalfa meal seed gluten gluten bone dried midlgs, farm 44% slv. meal, feed, meal, meal, grains, Kansas price Decatur, 41% slv. IL IL Central Lawrence- City IL Memphis pts. pts. U.S. burg, IN 1/ 1/ 1/ 1/ 1/ 1/ 1/ 2/ ------------------------------------------------------------------------------ ------------------------------$/ton----------------------------------- Mkt. yr. 98/99 130.56 109.86 59.87 234.76 137.32 84.87 54.74 88.10 99/00 158.15 124.00 52.89 237.31 163.13 82.93 53.13 80.20 00/01 166.70 144.38 58.92 250.34 177.19 84.93 61.77 89.00 Monthly: 2000: Jul 156.84 131.88 45.25 218.75 173.45 81.00 42.53 84.50 Aug 151.38 130.50 43.20 211.00 170.95 NQ 37.72 83.90 Sep 166.88 153.12 46.75 227.50 182.63 73.00 53.88 86.00 Oct 163.61 150.00 51.00 247.00 182.05 73.00 52.35 89.20 2001: Jul 183.90 120.20 59.30 205.50 182.69 75.00 63.60 105.00 Aug 170.63 130.63 65.38 263.75 190.21 75.00 69.10 105.00 Sep 163.50 131.25 66.25 268.13 180.76 46.00 74.50 106.00 Oct 3/ 157.68 131.25 66.40 260.00 168.22 92.00 59.76 108.00 ------------------------------------------------------------------------------ 1/ Marketing year beginning September 1. 2/ Marketing year beginning May 1. 3/ Preliminary. NQ=No quote. Table 5--Corn: Food and industrial uses ------------------------------------------------------------------------------ Glucose ---Alcohol--- Cereals and Bev. & other Total Year HFCS dex. Starch Fuel & Mfg products F&I ------------------------------------------------------------------------------ Million bushels 1999/2000 Sep-Nov 129.3 56.7 63.6 131.7 31.8 46.0 459.2 Dec-Feb 119.4 49.6 60.0 138.3 33.3 46.0 446.6 Mar-May 141.7 57.1 63.7 147.9 34.9 46.5 491.9 Jun-Aug 149.2 58.4 63.8 147.8 29.7 46.5 495.4 Mkt year 539.5 221.9 251.1 565.8 129.7 185.0 1,893.0 2000/01 Sep-Nov 126.0 56.2 63.4 142.9 31.8 46.0 466.2 Dec-Feb 118.4 49.9 59.2 158.0 33.3 46.0 464.8 Mar-May 144.6 56.5 62.0 161.3 34.8 46.5 505.7 Jun-Aug 148.0 58.0 63.0 165.4 30.1 46.5 511.0 Mkt year 537.1 220.6 247.6 627.5 130.0 185.0 1,947.8 2001/02 Mkt year 543.0 220.0 250.0 680.0 131.0 186.0 2,010.0 ------------------------------------------------------------------------------ Source: USDA, Economic Research Service. Table 6--Wholesale corn milling product and by-product prices ------------------------------------------------------------------------------ Corn meal, Brewers' Sugar, HFCS, 42% Corn starch, yellow, grits, destrose, tank cars, fob Midwest New York Chicago Midwest Midwest 3/ ------------------------------------------------------------------------------ $/cwt $/cwt cents/lb cents/lb $/cwt Mkt. yr. 1/ 98/99 15.06 11.00 24.24 8.04 12.28 99/00 15.05 10.91 16.38 9.18 12.39 00/01 2/ 15.84 11.74 16.83 9.25 12.44 Monthly 2000: Aug 14.62 10.52 16.38 9.25 12.04 Sep 14.92 10.82 16.38 9.25 11.71 Oct 15.60 11.50 16.75 8.61 11.95 Nov 16.12 12.02 16.88 8.40 12.43 2001: Aug 15.98 11.88 16.88 9.50 12.31 Sep 15.81 11.71 16.88 9.50 12.46 Oct 15.43 11.33 17.68 9.50 12.34 Nov 2/ 15.56 11.46 18.88 10.80 12.01 ------------------------------------------------------------------------------ 1/ Marketing year beginning September 1. 2/ Preliminary. 3/ Bulk-industrial, unmodified. Table 7--U.S. imports by country of origin ------------------------------------------------------------------------------ Country/region ------1999/2000- ------2000/2001---- 2001/2002 Mkt. yr. June-Sep. Mkt. yr. June-Sep. June-Sep. ------------------------------------------------------------------------------ OATS --------------------Thousand tons--------------------- Canada 1,287 517 1,466 561 443 Finland 125 24 103 0 111 Sweden 276 79 257 59 80 Total 1/ 1,703 620 1,827 620 633 BARLEY, MALTING Canada 543 129 585 158 204 Total 1/ 543 129 585 158 204 BARLEY, OTHER 2/ Canada 60 8 51 22 1 Total 1/ 60 8 51 22 1 ------------------------------------------------------------------------------ 1/ Totals may not add due to rounding. 2/ Mainly consists of barley for feeding, and also includes seed barley. Source: Bureau of the Census Table 8--U.S. feed grain exports by selected destinations 1/ ------------------------------------------------------------------------------ Country/region ------1999/2000- ------2000/2001---- 2001/2002 Mkt. yr. Sep. Mkt. yr. Sep. Sep. ------------------------------------------------------------------------------ CORN Japan 15,149 1,379 14,396 1,392 1,087 Mexico 4,832 689 5,942 784 819 Taiwan 5,036 346 4,831 299 343 Egypt 3,790 400 4,152 517 482 S. Korea 3,134 582 3,168 328 270 Canada 982 135 2,697 233 330 Colombia 1,782 104 1,615 63 103 Venezuela 1,073 89 1,287 162 27 Algeria 1,042 65 1,205 123 97 Saudi Arabia 1,164 60 1,053 94 44 Dominican Republic 1,003 67 976 61 53 Israel 695 20 694 72 Syria 603 81 588 62 56 Turkey 874 568 43 Morocco 604 26 530 71 61 Costa Rica 452 35 512 65 34 Tunisia 519 73 470 41 Peru 458 78 185 22 26 Iran 611 105 144 117 Sub-Saharan Africa 511 83 113 27 2 Former USSR 491 112 19 Chile 542 40 33 EU 141 17 East Europe 35 China 58 58 Others 3,515 322 3,785 573 359 Total 49,098 4,838 49,072 5,127 4,235 SORGHUM Mexico 4,824 397 4,985 345 288 Japan 1,123 175 811 97 139 Israel 135 110 33 5 EU 181 Others 104 2 69 28 24 Total 6,366 574 5,976 504 457 ---------------------------------------------------------- ------1999/2000- ------2000/2001---- 2001/2002 Mkt. yr. June-Sep. Mkt. yr. June-Sep. June-Sep. BARLEY ---------------------------------------------------------- Saudi Arabia 416 196 Japan 391 183 388 91 140 Mexico 104 31 113 29 11 Taiwan 5 57 24 Canada 31 14 32 14 47 Other 126 38 663 291 62 Total 657 267 1,253 449 260 ------------------------------------------------------------------------------ 1/ Totals may not add due to rounding. Source: Bureau of the Census END_OF_FILE