WASDE - 669 - 8 March 2026 World and U.S. Supply and Use for Grains 1/ Million Metric Tons ================================================================================ Total Total Ending Commodity Output Supply Trade 2/ Use 3/ Stocks ================================================================================ World Total Grains 4/ 2023/24 2822.94 3616.03 515.23 2819.31 796.72 2024/25 (Est.) 2853.40 3650.12 499.50 2874.74 775.38 2025/26 (Proj.) Feb 2973.51 3747.65 537.31 2959.47 788.18 Mar 2976.53 3751.90 537.18 2959.64 792.27 Wheat 2023/24 791.53 1066.17 222.23 796.73 269.44 2024/25 (Est.) 800.43 1069.88 210.47 810.24 259.63 2025/26 (Proj.) Feb 841.80 1101.57 221.96 824.06 277.51 Mar 842.12 1101.75 222.16 824.80 276.96 Coarse Grains 5/ 2023/24 1507.47 1844.92 236.25 1497.85 347.07 2024/25 (Est.) 1511.32 1858.39 227.56 1533.86 324.52 2025/26 (Proj.) Feb 1590.43 1913.49 252.08 1593.70 319.79 Mar 1593.13 1917.66 253.07 1593.88 323.77 Rice, milled 2023/24 523.93 704.95 56.75 524.74 180.21 2024/25 (Est.) 541.65 721.86 61.47 530.64 191.22 2025/26 (Proj.) Feb 541.28 732.59 63.27 541.71 190.88 Mar 541.28 732.50 61.95 540.96 191.54 United States Total Grains 4/ 2023/24 458.90 520.30 85.72 366.49 68.09 2024/25 (Est.) 452.42 528.32 100.66 360.32 67.34 2025/26 (Proj.) Feb 508.41 582.84 117.03 381.88 83.93 Mar 508.41 582.72 116.98 381.87 83.87 Wheat 2023/24 49.10 68.35 19.21 30.18 18.95 2024/25 (Est.) 53.85 76.86 22.48 31.12 23.26 2025/26 (Proj.) Feb 54.01 80.54 24.49 30.71 25.34 Mar 54.01 80.54 24.49 30.71 25.34 Coarse Grains 5/ 2023/24 402.88 442.66 63.37 331.42 47.87 2024/25 (Est.) 391.51 441.58 75.31 323.90 42.37 2025/26 (Proj.) Feb 447.83 492.51 89.77 345.75 56.99 Mar 447.83 492.45 89.78 345.74 56.93 Rice, milled 2023/24 6.92 9.29 3.15 4.88 1.27 2024/25 (Est.) 7.05 9.88 2.87 5.30 1.71 2025/26 (Proj.) Feb 6.56 9.79 2.76 5.43 1.60 Mar 6.56 9.73 2.70 5.43 1.60 ================================================================================ WASDE - 669 - 9 March 2026 World and U.S. Supply and Use for Grains, Continued 1/ Million Metric Tons ================================================================================ Total Total Ending Commodity Output Supply Trade 2/ Use Stocks ================================================================================ Foreign 3/ Total Grains 4/ 2023/24 2364.04 3095.73 429.50 2452.83 728.63 2024/25 (Est.) 2400.98 3121.80 398.84 2514.42 708.04 2025/26 (Proj.) Feb 2465.11 3164.81 420.28 2577.59 704.25 Mar 2468.12 3169.19 420.20 2577.76 708.40 Wheat 2023/24 742.44 997.82 203.02 766.54 250.49 2024/25 (Est.) 746.58 993.02 187.99 779.12 236.37 2025/26 (Proj.) Feb 787.79 1021.03 197.46 793.36 252.17 Mar 788.11 1021.22 197.66 794.09 251.62 Coarse Grains 5/ 2023/24 1104.59 1402.25 172.88 1166.43 299.20 2024/25 (Est.) 1119.80 1416.81 152.25 1209.96 282.16 2025/26 (Proj.) Feb 1142.60 1420.98 162.31 1247.95 262.80 Mar 1145.30 1425.20 163.29 1248.14 266.84 Rice, milled 2023/24 517.01 695.66 53.61 519.86 178.94 2024/25 (Est.) 534.60 711.97 58.60 525.34 189.51 2025/26 (Proj.) Feb 534.72 722.80 60.51 536.28 189.28 Mar 534.71 722.77 59.25 535.53 189.94 ================================================================================ World and U.S. Supply and Use for Cotton 1/ Million 480-lb. Bales ================================================================================ Total Total Ending Commodity Output Supply Trade 2/ Use 3/ Stocks ================================================================================ World 2023/24 112.23 188.09 44.06 114.99 73.30 2024/25 (Est.) 118.54 191.84 42.41 118.94 73.76 2025/26 (Proj.) Feb 119.86 193.61 43.71 118.72 75.11 Mar 120.99 194.75 43.91 118.58 76.39 United States 2023/24 12.07 16.72 11.75 1.85 3.15 2024/25 (Est.) 14.41 17.57 11.90 1.70 4.00 2025/26 (Proj.) Feb 13.92 17.92 12.00 1.60 4.40 Mar 13.92 17.92 12.00 1.60 4.40 Foreign 4/ 2023/24 100.17 171.38 32.31 113.14 70.15 2024/25 (Est.) 104.13 174.28 30.51 117.24 69.76 2025/26 (Proj.) Feb 105.94 175.69 31.71 117.12 70.71 Mar 107.08 176.83 31.91 116.98 71.99 ================================================================================ WASDE - 669 - 10 March 2026 World and U.S. Supply and Use for Oilseeds 1/ (Million Metric Tons) ================================================================================ Total Total Ending Commodity Output Supply Trade Use 2/ Stocks ================================================================================ World Oilseeds 2023/24 657.43 780.43 205.52 543.42 136.10 2024/25 (Est.) 684.95 821.05 213.81 567.79 142.21 2025/26 (Proj.) Feb 695.78 837.87 215.13 580.44 146.30 Mar 697.54 839.75 214.99 582.28 146.58 Oilmeals 2023/24 371.37 389.62 105.70 366.12 19.23 2024/25 (Est.) 392.41 411.64 114.31 381.81 23.22 2025/26 (Proj.) Feb 401.11 424.45 115.36 396.13 24.03 Mar 402.12 425.34 115.71 396.77 24.04 Vegetable Oils 2023/24 222.19 254.60 86.22 217.64 30.94 2024/25 (Est.) 229.99 260.93 88.45 222.81 29.93 2025/26 (Proj.) Feb 235.10 264.89 87.40 228.92 29.93 Mar 235.86 265.79 87.77 228.98 30.65 United States Oilseeds 2023/24 122.16 132.12 47.49 66.22 10.81 2024/25 (Est.) 128.60 140.69 52.29 70.43 10.23 2025/26 (Proj.) Feb 126.24 137.51 44.01 73.85 11.25 Mar 126.24 137.65 43.99 73.91 11.39 Oilmeals 2023/24 51.43 56.13 14.75 40.90 0.49 2024/25 (Est.) 55.27 60.70 16.78 43.48 0.45 2025/26 (Proj.) Feb 57.40 62.45 17.80 44.15 0.50 Mar 57.68 62.80 17.81 44.49 0.50 Vegetable Oils 2023/24 13.59 21.59 0.42 20.13 1.04 2024/25 (Est.) 14.49 21.44 1.28 19.05 1.10 2025/26 (Proj.) Feb 14.90 22.53 0.70 20.68 1.16 Mar 14.89 22.27 0.70 20.40 1.18 Foreign 3/ Oilseeds 2023/24 535.27 648.31 158.04 477.20 125.29 2024/25 (Est.) 556.36 680.36 161.53 497.36 131.98 2025/26 (Proj.) Feb 569.54 700.36 171.12 506.59 135.05 Mar 571.30 702.10 171.00 508.37 135.20 Oilmeals 2023/24 319.94 333.49 90.95 325.22 18.75 2024/25 (Est.) 337.14 350.94 97.53 338.33 22.77 2025/26 (Proj.) Feb 343.71 362.00 97.56 351.98 23.54 Mar 344.44 362.54 97.89 352.29 23.55 Vegetable Oils 2023/24 208.60 233.01 85.80 197.51 29.90 2024/25 (Est.) 215.51 239.49 87.17 203.75 28.83 2025/26 (Proj.) Feb 220.20 242.36 86.71 208.24 28.77 Mar 220.97 243.52 87.07 208.58 29.47 ================================================================================ WASDE - 669 - 11 March 2026 U.S. Wheat Supply and Use 1/ ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Feb Mar ================================================================================ Million Acres Area Planted 49.6 46.3 45.3 45.3 Area Harvested 37.1 38.6 37.2 37.2 Bushels Yield per Harvested Acre 48.7 51.2 53.3 53.3 Million Bushels Beginning Stocks 570 696 855 855 Production 1804 1979 1985 1985 Imports 138 149 120 120 Supply, Total 2511 2824 2959 2959 Food 961 969 967 967 Seed 62 61 61 61 Feed and Residual 86 113 100 100 Domestic, Total 1109 1143 1128 1128 Exports 706 826 900 900 Use, Total 1815 1969 2028 2028 Ending Stocks 696 855 931 931 Avg.FarmPrice ($/bu) 2/ 6.96 5.52 4.90 4.95 ================================================================================ U.S. Wheat by Class: Supply and Use ================================================================================ Year begining Hard Red Hard Red Soft Red June 1 Winter Spring Winter White Durum Total ================================================================================ Million Bushels 2024/25 (Est.) Beginning Stocks 274 190 126 85 21 696 Production 773 505 344 276 80 1979 Imports 6 79 5 7 51 149 Supply, Total 3/ 1054 774 476 368 152 2824 Food 387 258 153 84 88 969 Seed 26 15 12 6 3 61 Feed and Residual 25 33 66 -25 15 113 Domestic Use 438 305 231 65 105 1143 Exports 215 251 118 223 19 826 Use, Total 652 556 349 288 124 1969 Ending Stocks, Total 402 218 127 80 28 855 2025/26 (Proj.) Beginning Stocks 402 218 127 80 28 855 Production 804 458 353 283 86 1985 Imports 5 65 5 5 40 120 Supply, Total 3/ 1211 741 485 368 154 2959 Food 390 255 152 84 86 967 Seed 26 15 12 6 3 61 Feed and Residual 25 10 65 -10 10 100 Domestic Use 441 280 229 80 99 1128 Exports 320 230 115 210 25 900 Use, Total 761 510 344 290 124 2028 Ending Stocks, Total Mar 450 231 141 78 31 931 Feb 450 231 141 78 31 931 ================================================================================ WASDE - 669 - 12 March 2026 U.S. Feed Grain and Corn Supply and Use 1/ ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Feb Mar ================================================================================ Million Acres FEED GRAINS Area Planted 107.5 101.8 110.1 110.1 Area Harvested 96.0 91.4 100.0 100.0 Metric Tons Yield per Harvested Acre 4.19 4.28 4.48 4.48 Million Metric Tons Beginning Stocks 37.1 47.9 42.3 42.3 Production 402.6 391.1 447.5 447.5 Imports 2.3 2.0 2.1 2.1 Supply, Total 442.0 441.0 492.0 491.9 Feed and Residual 151.5 144.0 161.7 161.6 Food, Seed & Industrial 179.3 179.3 183.5 183.7 Domestic, Total 330.8 323.3 345.2 345.2 Exports 63.4 75.3 89.8 89.8 Use, Total 394.2 398.6 435.0 435.0 Ending Stocks 47.9 42.3 57.0 56.9 Million Acres CORN Area Planted 94.6 90.9 98.8 98.8 Area Harvested 86.5 83.0 91.3 91.3 Bushels Yield per Harvested Acre 177.3 179.3 186.5 186.5 Million Bushels Beginning Stocks 1360 1763 1551 1551 Production 15341 14892 17021 17021 Imports 28 22 25 25 Supply, Total 16729 16677 18597 18597 Feed and Residual 5831 5454 6200 6200 Food,Seed& Industrial 2/ 6880 6813 6970 6970 Ethanol & by-products 3/ 5489 5436 5600 5600 Domestic, Total 12711 12267 13170 13170 Exports 2255 2858 3300 3300 Use, Total 14966 15126 16470 16470 Ending Stocks 1763 1551 2127 2127 Avg.FarmPrice ($/bu) 4/ 4.55 4.24 4.10 4.10 ================================================================================ WASDE - 669 - 13 March 2026 U.S. Sorghum, Barley, and Oats Supply and Use 1/ ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Feb Mar ================================================================================ Million Bushels SORGHUM AreaPlanted (mil. acres) 7.2 6.3 6.6 6.6 AreaHarvested(mil.acres) 6.1 5.6 6.0 6.0 Yield (bushels/acre) 52.0 61.3 72.6 72.6 Beginning Stocks 24 33 40 40 Production 318 344 437 437 Imports 0 0 0 0 Supply, Total 342 377 477 477 Feed and Residual 51 140 105 100 Food, Seed & Industrial 24 98 110 115 Total Domestic 75 239 215 215 Exports 234 98 225 225 Use, Total 309 336 440 440 Ending Stocks 33 40 37 37 Avg.FarmPrice ($/bu) 2/ 4.93 4.07 3.60 3.55 BARLEY AreaPlanted (mil. acres) 3.1 2.4 2.3 2.3 AreaHarvested(mil.acres) 2.6 1.9 1.8 1.8 Yield (bushels/acre) 72.3 76.6 80.0 80.0 Beginning Stocks 66 78 69 69 Production 186 144 141 141 Imports 13 9 9 8 Supply, Total 265 232 219 218 Feed and Residual 56 36 25 25 Food, Seed & Industrial 126 118 115 115 Total Domestic 182 154 140 140 Exports 5 9 9 9 Use, Total 187 162 149 149 Ending Stocks 78 69 70 69 Avg.FarmPrice ($/bu) 2/ 7.39 6.31 5.40 5.45 OATS AreaPlanted (mil. acres) 2.6 2.2 2.4 2.4 AreaHarvested(mil.acres) 0.8 0.9 0.9 0.9 Yield (bushels/acre) 68.6 76.4 73.8 73.8 Beginning Stocks 35 36 28 28 Production 57 68 70 70 Imports 74 71 74 72 Supply, Total 166 176 172 170 Feed and Residual 47 64 55 55 Food, Seed & Industrial 80 81 82 82 Total Domestic 127 145 137 137 Exports 2 2 2 3 Use, Total 129 148 139 140 Ending Stocks 36 28 33 30 Avg.FarmPrice ($/bu) 2/ 3.92 3.35 3.20 3.20 ================================================================================ WASDE - 669 - 14 March 2026 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Feb Mar ================================================================================ Million Acres TOTAL RICE Area Planted 2.90 2.92 2.81 2.81 Area Harvested 2.85 2.87 2.74 2.74 Pounds Yield per Harvested Acre 7641 7753 7544 7544 Million Hundredweight Beginning Stocks 2/ 30.3 39.8 53.9 53.9 Production 218.0 222.6 206.7 206.7 Imports 44.4 49.3 47.7 45.7 Supply, Total 292.6 311.7 308.3 306.3 Domestic & Residual 3/ 153.7 167.3 171.0 171.0 Exports, Total 4/ 99.0 90.5 87.0 85.0 Rough 42.5 28.9 23.0 21.0 Milled (rough equiv.) 56.5 61.7 64.0 64.0 Use, Total 252.8 257.8 258.0 256.0 Ending Stocks 39.8 53.9 50.3 50.3 Avg.MillingYield (%) 5/ 70.00 70.00 70.00 70.00 Avg.FarmPrice($/cwt) 6/ 17.30 15.10 12.10 12.10 LONG GRAIN RICE Harvested Acres (mil.) 2.05 2.26 2.08 2.08 Yield (pounds/acre) 7523 7626 7359 7359 Beginning Stocks 21.2 19.3 37.3 37.3 Imports 37.2 42.7 41.0 39.0 Production 153.8 172.0 153.3 153.3 Supply, Total 7/ 212.2 234.0 231.6 229.6 Domestic & Residual 3/ 117.8 135.8 139.0 139.0 Exports 8/ 75.1 60.8 56.0 54.0 Use, Total 192.9 196.6 195.0 193.0 Ending Stocks 19.3 37.3 36.6 36.6 Avg.FarmPrice($/cwt) 6/ 15.90 14.00 10.50 10.50 MEDIUM & SHORT GRAIN RICE Harvested Acres (mil.) 0.81 0.62 0.66 0.66 Yield (pounds/acre) 7938 8219 8130 8130 Beginning Stocks 6.8 18.9 13.7 13.7 Imports 7.2 6.6 6.7 6.7 Production 64.1 50.6 53.4 53.4 Supply, Total 7/ 78.8 74.9 73.9 73.9 Domestic & Residual 3/ 35.9 31.5 32.0 32.0 Exports 8/ 23.9 29.7 31.0 31.0 Use, Total 59.9 61.2 63.0 63.0 Ending Stocks 18.9 13.7 10.9 10.9 Avg. Farm Price ($/cwt) 1/ 6/ 9/ 21.60 18.50 18.00 18.10 California 10/ 22.30 18.70 20.00 20.00 Other States 1/ 17.20 15.00 13.80 14.20 ================================================================================ WASDE - 669 - 15 March 2026 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Feb Mar ================================================================================ Million Acres SOYBEANS Area Planted 83.6 87.3 81.2 81.2 Area Harvested 82.3 86.2 80.4 80.4 Bushels Yield per Harvested Acre 50.6 50.7 53.0 53.0 Million Bushels Beginning Stocks 264 342 325 325 Production 4162 4374 4262 4262 Imports 21 29 20 25 Supply, Total 4447 4746 4607 4612 Crushings 2285 2445 2570 2575 Exports 1700 1882 1575 1575 Seed 75 70 73 73 Residual 44 23 39 39 Use, Total 4105 4421 4257 4262 Ending Stocks 342 325 350 350 Avg.FarmPrice ($/bu) 2/ 12.40 10.00 10.20 10.20 Million Pounds SOYBEAN OIL Beginning Stocks 1607 1551 1747 1747 Production 4/ 27093 29218 29940 29920 Imports 621 362 365 365 Supply, Total 29321 31131 32052 32032 Domestic Disappearance 27153 26891 29100 29050 Biofuel 3/ 12995 11758 14800 14000 Food, Feed & other Industrial 14158 15133 14300 15050 Exports 617 2492 1200 1200 Use, Total 27770 29384 30300 30250 Ending stocks 1551 1747 1752 1782 Avg. Price (c/lb) 2/ 47.28 47.59 53.00 55.00 Thousand Short Tons SOYBEAN MEAL Beginning Stocks 371 453 398 398 Production 4/ 54106 58443 60752 61077 Imports 687 807 725 800 Supply, Total 55164 59704 61875 62275 Domestic Disappearance 38657 41041 42025 42425 Exports 16054 18265 19400 19400 Use, Total 54711 59305 61425 61825 Ending Stocks 453 398 450 450 Avg. Price ($/s.t.) 2/ 384.11 299.77 295.00 300.00 ================================================================================ WASDE - 669 - 16 March 2026 U.S. Sugar Supply and Use 1/ ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Feb Mar ================================================================================ 1000 Short Tons, Raw Value Beginning Stocks 1843 2220 2489 2490 Production 2/ 9313 9397 9410 9280 Beet Sugar 5172 5370 5102 5093 Cane Sugar 4141 4027 4308 4187 Florida 2079 1932 2082 1956 Louisiana 2022 2095 2226 2232 Texas 40 0 0 0 Imports 3840 3393 2243 2427 TRQ 3/ 1788 1534 1316 1316 Other Program 4/ 300 373 200 250 Non-program 1752 1485 728 861 Mexico 521 504 220 220 High-tier tariff/other 1231 980 508 642 Total Supply 14995 15009 14142 14197 Exports 249 111 50 50 Deliveries 12443 12450 12153 12270 Food 12336 12340 12048 12165 Other 5/ 106 111 105 105 Miscellaneous 83 -41 0 0 Total Use 12775 12520 12203 12320 Ending Stocks 2220 2490 1940 1878 Stocks to Use Ratio 17.4 19.9 15.9 15.2 ================================================================================ Mexico Sugar Supply and Use and High Fructose Corn Syrup Consumption 1/ ================================================================================ Supply Use Fiscal Beginning Produc- Imports Domestic Exports Ending Year Stocks tion 2/ Stocks ================================================================================ 1000 Metric Tons, Actual Weight Sugar 2024/25 Est. Feb 1418 4771 167 4210 1023 1123 Mar 1418 4771 167 4210 1023 1123 2025/26 Proj. Feb 1123 5024 66 4311 820 1082 Mar 1123 5024 52 4297 834 1068 ================================================================================ WASDE - 669 - 17 March 2026 U.S. Cotton Supply and Use 1/ ================================================================================ 2023/24 2024/25 Est. 2025/26 Proj. 2025/26 Proj. Item Feb Mar ================================================================================ Million Acres Planted 10.23 11.18 9.28 9.28 Harvested 6.44 7.81 7.80 7.80 Pounds Yield per Harvested Acre 899 886 856 856 Million 480 Pound Bales Beginning Stocks 4.65 3.15 4.00 4.00 Production 12.07 14.41 13.92 13.92 Imports 0.00 0.00 0.01 0.01 Supply, Total 16.72 17.57 17.92 17.92 Domestic Use 1.85 1.70 1.60 1.60 Exports, Total 11.75 11.90 12.00 12.00 Use, Total 13.60 13.60 13.60 13.60 Unaccounted 2/ -0.03 -0.03 -0.08 -0.08 Ending Stocks 3.15 4.00 4.40 4.40 Avg. Farm Price 3/ 76.1 63.2 60.0 60.0 ================================================================================ WASDE - 669 - 18 March 2026 World Wheat Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2023/24 World 3/ 274.64 791.53 222.96 159.14 796.73 222.23 269.44 World Less China 135.82 654.94 209.34 122.14 643.23 221.22 134.92 United States 15.50 49.10 3.75 2.33 30.18 19.21 18.95 Total Foreign 259.14 742.44 219.21 156.81 766.55 203.02 250.49 Major Exporters 4/ 47.63 325.10 13.79 72.97 179.70 165.59 41.23 Argentina 3.97 15.85 0.00 0.25 7.05 8.23 4.54 Australia 4.37 25.96 0.22 4.80 8.30 19.84 2.41 Canada 5.71 33.41 0.56 3.82 8.95 25.44 5.29 European Union 5/ 16.27 135.38 12.65 46.50 110.50 38.00 15.79 Russia 14.39 91.50 0.30 16.00 39.00 55.50 11.69 Ukraine 2.93 23.00 0.06 1.60 5.90 18.58 1.51 Major Importers 6/ 178.76 208.72 139.39 56.54 329.63 19.75 177.48 Bangladesh 0.83 1.10 6.65 0.20 7.30 0.00 1.28 Brazil 1.80 8.10 6.61 0.60 12.00 2.81 1.69 China 138.82 136.59 13.63 37.00 153.50 1.01 134.52 Japan 1.14 1.15 5.35 0.73 6.23 0.31 1.09 N. Africa 7/ 12.07 16.37 31.58 1.63 46.48 2.00 11.54 Nigeria 0.37 0.12 5.05 0.00 4.80 0.35 0.39 Sel. Mideast 8/ 11.74 20.77 20.34 3.23 39.72 0.65 12.47 Southeast Asia 9/ 3.13 0.00 30.56 9.85 27.86 1.32 4.51 Selected Other India 9.50 110.55 0.13 6.75 112.34 0.34 7.50 Kazakhstan 4.21 12.11 2.50 2.50 7.55 7.83 3.45 United Kingdom 2.31 13.98 3.14 7.40 15.59 0.57 3.26 2024/25 Est. World 3/ 269.44 800.43 201.30 156.81 810.24 210.47 259.63 World Less China 134.92 660.34 197.13 123.81 660.24 209.45 131.86 United States 18.95 53.85 4.05 3.07 31.12 22.48 23.26 Total Foreign 250.49 746.58 197.25 153.74 779.12 187.99 236.37 Major Exporters 4/ 41.23 315.71 11.86 74.49 181.90 152.94 33.96 Argentina 4.54 18.51 0.01 0.25 7.15 13.31 2.60 Australia 2.41 34.11 0.22 5.60 9.10 23.65 3.99 Canada 5.29 35.94 0.61 3.04 8.35 29.31 4.18 European Union 5/ 15.79 122.15 10.64 45.00 109.00 27.92 11.67 Russia 11.69 81.60 0.30 17.00 40.00 43.00 10.59 Ukraine 1.51 23.40 0.07 3.60 8.30 15.75 0.93 Major Importers 6/ 177.48 211.38 121.08 51.50 328.28 16.31 165.34 Bangladesh 1.28 1.10 5.80 0.20 7.40 0.00 0.78 Brazil 1.69 7.89 7.20 0.70 12.20 1.89 2.69 China 134.52 140.10 4.17 33.00 150.00 1.02 127.78 Japan 1.09 1.08 5.57 0.73 6.28 0.34 1.13 N. Africa 7/ 11.54 15.84 31.68 1.35 46.15 2.51 10.39 Nigeria 0.39 0.13 6.37 0.00 6.20 0.38 0.31 Sel. Mideast 8/ 12.47 23.56 17.60 2.94 40.24 0.72 12.66 Southeast Asia 9/ 4.51 0.00 29.17 9.60 28.43 1.45 3.81 Selected Other India 7.50 113.29 0.16 6.00 108.96 0.19 11.80 Kazakhstan 3.45 18.58 0.50 3.20 8.30 10.19 4.03 United Kingdom 3.26 11.15 3.81 6.83 15.03 0.50 2.69 ================================================================================ WASDE - 669 - 19 March 2026 World Wheat Supply and Use 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2025/26 Proj. World 3/ Feb 259.77 841.80 217.73 164.96 824.06 221.96 277.51 Mar 259.63 842.12 218.02 165.46 824.80 222.16 276.96 World Less China Feb 132.00 701.73 211.73 133.96 676.06 220.96 152.66 Mar 131.86 702.05 212.02 134.46 676.80 221.16 152.11 United States Feb 23.26 54.01 3.27 2.72 30.71 24.49 25.34 Mar 23.26 54.01 3.27 2.72 30.71 24.49 25.34 Total Foreign Feb 236.51 787.79 214.47 162.24 793.36 197.46 252.17 Mar 236.37 788.11 214.76 162.74 794.09 197.66 251.62 Major Exporters 4/ Feb 33.95 361.26 7.24 83.00 191.65 163.50 47.29 Mar 33.96 361.26 7.24 83.50 192.15 163.00 47.30 Argentina Feb 2.60 27.80 0.01 1.00 8.10 18.00 4.31 Mar 2.60 27.80 0.01 0.50 7.60 19.50 3.31 Australia Feb 3.99 37.00 0.23 5.50 9.10 27.00 5.12 Mar 3.99 36.00 0.23 5.50 9.10 27.00 4.12 Canada Feb 4.18 39.96 0.60 4.50 9.85 29.00 5.89 Mar 4.18 39.96 0.60 4.50 9.85 29.00 5.89 European Union 5/ Feb 11.66 144.00 6.00 50.00 114.50 31.50 15.66 Mar 11.67 144.00 6.00 51.00 115.50 30.50 15.67 Russia Feb 10.59 89.50 0.30 18.50 41.70 44.00 14.69 Mar 10.59 89.50 0.30 18.50 41.70 43.50 15.19 Ukraine Feb 0.93 23.00 0.10 3.50 8.40 14.00 1.63 Mar 0.93 24.00 0.10 3.50 8.40 13.50 3.13 Major Importers 6/ Feb 165.34 206.30 139.60 50.72 331.17 15.86 164.21 Mar 165.34 206.30 139.60 50.62 331.32 15.76 164.17 Bangladesh Feb 0.78 1.00 7.20 0.30 8.00 0.00 0.98 Mar 0.78 1.00 7.40 0.30 8.20 0.00 0.98 Brazil Feb 2.69 8.00 7.30 0.75 12.35 2.50 3.14 Mar 2.69 8.00 7.10 0.75 12.35 2.30 3.14 China Feb 127.78 140.07 6.00 31.00 148.00 1.00 124.85 Mar 127.78 140.07 6.00 31.00 148.00 1.00 124.85 Japan Feb 1.13 0.99 5.65 0.73 6.28 0.34 1.15 Mar 1.13 0.99 5.65 0.73 6.28 0.34 1.15 N. Africa 7/ Feb 10.42 17.45 33.70 1.45 47.45 2.12 12.00 Mar 10.39 17.45 33.70 1.45 47.55 2.12 11.87 Nigeria Feb 0.31 0.13 6.70 0.00 6.40 0.40 0.34 Mar 0.31 0.13 6.40 0.00 6.10 0.40 0.34 Sel. Mideast 8/ Feb 12.66 19.38 20.75 2.79 40.44 0.96 11.39 Mar 12.66 19.38 21.15 2.79 40.59 0.96 11.64 Southeast Asia 9/ Feb 3.81 0.00 33.30 10.85 30.80 1.34 4.97 Mar 3.81 0.00 33.40 10.75 30.80 1.44 4.97 India Feb 11.80 117.95 0.25 6.50 112.51 0.25 17.24 Mar 11.80 117.95 0.20 6.50 112.51 0.25 17.19 Kazakhstan Feb 4.03 18.90 0.70 3.50 8.65 9.70 5.28 Mar 4.03 19.33 0.70 3.50 8.65 10.50 4.90 United Kingdom Feb 2.69 11.96 3.50 7.10 15.30 0.60 2.24 Mar 2.69 11.96 3.50 7.10 15.30 0.60 2.24 ================================================================================ WASDE - 669 - 20 March 2026 World Coarse Grain Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2023/24 World 3/ 337.44 1507.47 242.65 924.52 1497.85 236.25 347.07 World Less China 130.69 1210.09 194.62 678.72 1159.15 236.25 133.61 United States 37.14 402.88 2.64 151.70 331.42 63.37 47.87 Total Foreign 300.31 1104.59 240.01 772.83 1166.43 172.88 299.20 Major Exporters 4/ 30.63 323.06 6.87 137.96 195.67 142.33 22.56 Argentina 3.13 59.98 0.01 12.88 18.94 40.58 3.61 Australia 3.97 14.48 0.00 5.09 6.97 9.66 1.83 Brazil 10.61 124.81 2.64 67.85 90.63 38.36 9.07 Canada 3.95 27.52 2.95 16.19 24.35 6.16 3.91 Russia 2.32 42.54 0.10 20.94 29.99 13.27 1.71 Ukraine 3.95 39.78 0.01 7.87 10.30 32.02 1.42 Major Importers 5/ 37.36 231.42 144.60 272.14 360.10 14.66 38.61 European Union 6/ 16.53 137.04 22.06 109.81 148.71 11.52 15.41 Japan 1.45 0.25 16.67 13.23 16.92 0.00 1.45 Mexico 5.61 28.93 24.95 30.50 53.17 0.02 6.29 N. Afr & Mideast 7/ 7.02 34.01 37.77 59.62 68.01 2.52 8.28 Saudi Arabia 1.40 0.27 7.00 6.92 7.25 0.00 1.41 Southeast Asia 8/ 2.89 30.67 19.82 38.24 49.59 0.60 3.19 South Korea 1.91 0.16 11.67 9.30 11.68 0.00 2.06 Selected Other China 206.75 297.38 48.03 245.80 338.70 0.01 213.46 2024/25 Est. World 3/ 347.07 1511.32 225.94 944.66 1533.86 227.56 324.52 World Less China 133.61 1207.85 207.70 694.91 1191.79 227.56 131.44 United States 47.87 391.51 2.19 144.14 323.90 75.31 42.37 Total Foreign 299.20 1119.80 223.75 800.52 1209.96 152.25 282.16 Major Exporters 4/ 22.56 333.13 5.11 142.35 205.70 125.38 29.72 Argentina 3.61 58.46 0.01 14.67 20.88 33.72 7.47 Australia 1.83 17.70 0.00 4.92 6.79 11.35 1.39 Brazil 9.07 143.59 2.83 72.00 100.93 42.37 12.19 Canada 3.91 27.52 1.87 14.85 22.92 6.90 3.48 Russia 1.71 34.78 0.10 20.43 28.40 6.77 1.41 Ukraine 1.42 33.47 0.02 8.43 11.16 22.35 1.40 Major Importers 5/ 38.61 227.98 154.92 286.56 374.48 11.30 35.73 European Union 6/ 15.41 136.80 20.17 110.20 148.72 9.16 14.50 Japan 1.45 0.20 16.72 13.15 16.84 0.00 1.53 Mexico 6.29 28.27 27.06 32.55 55.48 0.03 6.12 N. Afr & Mideast 7/ 8.28 30.98 45.27 67.65 76.16 1.56 6.81 Saudi Arabia 1.41 0.27 8.44 8.37 8.71 0.00 1.41 Southeast Asia 8/ 3.19 31.19 21.27 40.87 52.22 0.55 2.88 South Korea 2.06 0.16 11.56 9.40 11.74 0.00 2.05 Selected Other China 213.46 303.47 18.24 249.75 342.08 0.01 193.09 ================================================================================ WASDE - 669 - 21 March 2026 World Coarse Grain Supply and Use 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2025/26 Proj. World 3/ Feb 323.06 1590.43 236.00 979.42 1593.70 252.08 319.79 Mar 324.52 1593.13 237.29 980.03 1593.88 253.07 323.77 World Less China Feb 129.97 1280.24 209.25 722.85 1244.80 252.06 138.69 Mar 131.44 1282.94 209.94 722.85 1244.38 253.05 142.67 United States Feb 42.37 447.83 2.31 161.77 345.75 89.77 56.99 Mar 42.37 447.83 2.25 161.64 345.74 89.78 56.93 Total Foreign Feb 280.69 1142.60 233.69 817.65 1247.95 162.31 262.80 Mar 282.16 1145.30 235.04 818.39 1248.15 163.29 266.84 Major Exporters 4/ Feb 28.74 341.00 5.06 145.40 212.97 137.59 24.25 Mar 29.72 343.90 5.02 145.33 212.96 138.26 27.41 Argentina Feb 7.27 62.32 0.01 14.34 20.63 42.40 6.57 Mar 7.47 61.32 0.01 14.34 20.63 42.40 5.77 Australia Feb 1.39 19.92 0.00 5.49 7.36 11.67 2.27 Mar 1.39 20.95 0.00 5.74 7.61 12.38 2.35 Brazil Feb 11.42 137.61 2.70 72.20 104.28 43.09 4.37 Mar 12.19 139.10 2.65 72.13 104.26 43.09 6.60 Canada Feb 3.48 29.48 2.12 15.99 24.42 6.39 4.26 Mar 3.48 29.41 2.12 15.93 24.36 6.34 4.30 Russia Feb 1.41 39.05 0.10 22.43 31.00 7.33 2.23 Mar 1.41 39.05 0.10 22.43 31.00 7.33 2.23 Ukraine Feb 1.40 35.58 0.01 7.70 10.35 24.50 2.14 Mar 1.40 37.02 0.01 7.52 10.17 24.51 3.75 Major Importers 5/ Feb 35.73 234.18 157.13 290.75 379.12 11.18 36.75 Mar 35.73 234.18 157.99 291.60 379.97 11.20 36.73 European Union 6/ Feb 14.50 141.31 20.77 112.60 151.54 9.77 15.27 Mar 14.50 141.31 20.77 112.65 151.59 9.79 15.20 Japan Feb 1.53 0.25 16.91 13.45 17.16 0.00 1.53 Mar 1.53 0.25 16.91 13.45 17.16 0.00 1.53 Mexico Feb 6.12 30.89 27.55 34.55 57.83 0.03 6.70 Mar 6.12 30.89 27.55 34.55 57.83 0.03 6.70 N. Afr & Mideast 7/ Feb 6.81 30.12 44.62 65.43 74.03 0.82 6.70 Mar 6.81 30.12 44.77 65.53 74.13 0.82 6.75 Saudi Arabia Feb 1.41 0.27 8.87 8.83 9.17 0.00 1.39 Mar 1.41 0.27 8.87 8.83 9.17 0.00 1.39 Southeast Asia 8/ Feb 2.88 31.08 22.18 41.98 52.83 0.57 2.75 Mar 2.88 31.08 22.88 42.68 53.53 0.57 2.75 South Korea Feb 2.05 0.16 11.61 9.39 11.78 0.00 2.04 Mar 2.05 0.16 11.61 9.39 11.78 0.00 2.04 China Feb 193.09 310.19 26.75 256.58 348.90 0.03 181.10 Mar 193.09 310.19 27.35 257.18 349.50 0.03 181.10 ================================================================================ WASDE - 669 - 22 March 2026 World Corn Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2023/24 World 3/ 305.36 1231.13 197.60 769.93 1221.24 192.65 315.25 World Less China 99.34 942.29 174.27 544.93 914.24 192.65 104.06 United States 34.55 389.67 0.72 148.11 322.87 57.28 44.79 Total Foreign 270.81 841.46 196.88 621.81 898.37 135.38 270.46 Major Exporters 4/ 18.51 233.13 2.72 94.24 128.72 112.88 12.76 Argentina 2.32 51.60 0.01 11.00 15.20 36.26 2.48 Brazil 9.88 119.00 1.72 62.50 84.00 38.26 8.33 Russia 0.91 16.60 0.05 9.10 10.20 6.60 0.76 South Africa 2.41 13.43 0.94 7.04 13.84 2.27 0.65 Ukraine 3.00 32.50 0.01 4.60 5.48 29.49 0.54 Major Importers 5/ 21.04 123.52 102.77 160.25 220.90 5.01 21.41 Egypt 1.51 7.20 8.02 12.80 15.30 0.00 1.43 European Union 6/ 8.02 61.95 19.81 58.10 78.10 4.39 7.29 Japan 1.30 0.01 15.29 12.00 15.30 0.00 1.30 Mexico 4.88 23.55 24.22 25.70 47.00 0.02 5.63 Southeast Asia 7/ 2.88 30.62 19.29 37.90 49.00 0.60 3.19 South Korea 1.90 0.09 11.55 9.25 11.50 0.00 2.04 Selected Other Canada 1.63 15.42 2.81 9.70 15.72 2.15 2.00 China 206.02 288.84 23.33 225.00 307.00 0.00 211.19 2024/25 Est. World 3/ 315.25 1230.59 186.13 785.44 1250.02 187.38 295.82 World Less China 104.06 935.67 184.31 551.44 934.02 187.37 103.89 United States 44.79 378.27 0.55 138.55 311.60 72.60 39.40 Total Foreign 270.46 852.32 185.58 646.89 938.41 114.78 256.42 Major Exporters 4/ 12.76 243.86 1.96 99.50 140.60 96.16 21.82 Argentina 2.48 50.00 0.01 12.30 16.70 29.00 6.78 Brazil 8.33 136.00 1.76 65.00 92.50 42.24 11.36 Russia 0.76 14.00 0.05 9.80 10.90 3.00 0.91 South Africa 0.65 17.06 0.13 7.00 14.00 1.90 1.94 Ukraine 0.54 26.80 0.02 5.40 6.50 20.02 0.84 Major Importers 5/ 21.41 120.48 107.30 164.70 225.71 3.33 20.15 Egypt 1.43 7.00 10.56 14.70 17.30 0.00 1.69 European Union 6/ 7.29 59.02 18.76 56.10 76.10 2.76 6.21 Japan 1.30 0.02 15.46 12.10 15.40 0.00 1.37 Mexico 5.63 23.10 25.93 27.50 49.10 0.03 5.53 Southeast Asia 7/ 3.19 31.14 20.80 40.60 51.71 0.55 2.88 South Korea 2.04 0.09 11.44 9.35 11.55 0.00 2.03 Selected Other Canada 2.00 15.35 1.69 8.58 14.44 3.00 1.58 China 211.19 294.92 1.82 234.00 316.00 0.00 191.93 ================================================================================ WASDE - 669 - 23 March 2026 World Corn Supply and Use 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2025/26 Proj. World 3/ Feb 294.35 1295.91 192.08 814.63 1301.29 206.55 288.98 Mar 295.82 1297.44 192.72 814.50 1300.51 206.85 292.75 World Less China Feb 102.42 994.67 184.08 575.63 980.29 206.53 108.83 Mar 103.89 996.20 184.72 575.50 979.51 206.83 112.60 United States Feb 39.40 432.34 0.64 157.49 334.53 83.82 54.02 Mar 39.40 432.34 0.64 157.49 334.53 83.82 54.02 Total Foreign Feb 254.95 863.57 191.44 657.15 966.75 122.73 234.96 Mar 256.42 865.09 192.08 657.01 965.97 123.02 238.72 Major Exporters 4/ Feb 20.85 244.00 1.67 100.70 145.00 107.20 14.32 Mar 21.82 245.70 1.67 100.60 144.90 107.20 17.09 Argentina Feb 6.58 53.00 0.01 12.30 16.70 37.00 5.89 Mar 6.78 52.00 0.01 12.30 16.70 37.00 5.09 Brazil Feb 10.58 131.00 1.60 66.00 96.50 43.00 3.68 Mar 11.36 132.00 1.60 65.50 96.00 43.00 5.96 Russia Feb 0.91 14.50 0.05 10.30 11.40 3.00 1.06 Mar 0.91 14.50 0.05 10.30 11.40 3.00 1.06 South Africa Feb 1.94 16.50 0.00 7.10 14.20 2.20 2.04 Mar 1.94 16.50 0.00 7.10 14.20 2.20 2.04 Ukraine Feb 0.84 29.00 0.01 5.00 6.20 22.00 1.65 Mar 0.84 30.70 0.01 5.40 6.60 22.00 2.95 Major Importers 5/ Feb 20.15 120.59 109.35 166.45 227.40 2.40 20.29 Mar 20.15 120.59 110.05 167.15 228.10 2.40 20.29 Egypt Feb 1.69 6.70 10.50 14.50 17.10 0.00 1.79 Mar 1.69 6.70 10.50 14.50 17.10 0.00 1.79 European Union 6/ Feb 6.21 56.95 19.50 54.90 75.00 1.80 5.86 Mar 6.21 56.95 19.50 54.90 75.00 1.80 5.86 Japan Feb 1.37 0.02 15.50 12.20 15.50 0.00 1.39 Mar 1.37 0.02 15.50 12.20 15.50 0.00 1.39 Mexico Feb 5.53 25.70 26.30 29.50 51.40 0.03 6.10 Mar 5.53 25.70 26.30 29.50 51.40 0.03 6.10 Southeast Asia 7/ Feb 2.88 31.03 21.50 41.50 52.10 0.57 2.74 Mar 2.88 31.03 22.20 42.20 52.80 0.57 2.74 South Korea Feb 2.03 0.09 11.50 9.35 11.60 0.00 2.02 Mar 2.03 0.09 11.50 9.35 11.60 0.00 2.02 Canada Feb 1.58 14.87 2.00 8.70 14.60 2.20 1.65 Mar 1.58 14.87 2.00 8.70 14.60 2.20 1.65 China Feb 191.93 301.24 8.00 239.00 321.00 0.02 180.15 Mar 191.93 301.24 8.00 239.00 321.00 0.02 180.15 ================================================================================ WASDE - 669 - 24 March 2026 World Rice Supply and Use (Milled Basis) 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Total 2/ Ending Stocks tion Imports Domestic Exports Stocks ================================================================================ 2023/24 World 3/ 181.02 523.93 53.54 524.74 56.75 180.21 World Less China 74.42 379.31 52.02 376.62 55.12 77.21 United States 0.96 6.92 1.41 4.88 3.15 1.27 Total Foreign 180.06 517.01 52.14 519.86 53.61 178.94 Major Exporters 4/ 46.57 207.19 3.77 165.10 42.62 49.81 Burma 1.55 12.30 0.01 9.90 2.75 1.22 India 35.00 137.83 0.00 116.40 14.42 42.00 Pakistan 2.04 9.87 0.02 4.00 6.53 1.40 Thailand 4.35 20.00 0.05 12.30 9.89 2.21 Vietnam 3.62 27.20 3.70 22.50 9.04 2.99 Major Importers 5/ 121.35 237.27 20.80 259.34 2.01 118.07 China 106.60 144.62 1.53 148.12 1.63 103.00 European Union 6/ 0.83 1.37 2.11 3.25 0.36 0.70 Indonesia 4.70 33.02 4.65 36.20 0.00 6.17 Nigeria 1.92 5.61 1.89 8.00 0.00 1.41 Philippines 3.38 12.33 4.50 16.80 0.00 3.40 Sel. Mideast 7/ 1.22 2.02 4.64 6.58 0.00 1.30 Selected Other Brazil 0.62 7.20 0.96 7.10 0.97 0.71 C. Amer & Carib 8/ 0.60 1.28 1.87 3.15 0.06 0.54 Egypt 0.60 3.78 0.18 4.05 0.06 0.46 Japan 1.81 7.30 0.72 8.15 0.09 1.60 Mexico 0.12 0.15 0.85 0.99 0.02 0.12 South Korea 1.43 3.70 0.40 4.19 0.13 1.21 2024/25 Est. World 3/ 180.21 541.65 57.80 530.64 61.47 191.22 World Less China 77.21 396.37 55.47 385.68 60.32 86.72 United States 1.27 7.05 1.57 5.30 2.87 1.71 Total Foreign 178.94 534.60 56.24 525.34 58.60 189.51 Major Exporters 4/ 49.81 219.21 3.60 169.97 46.45 56.20 Burma 1.22 11.90 0.01 9.60 2.57 0.95 India 42.00 150.00 0.00 121.17 22.83 48.00 Pakistan 1.40 9.72 0.02 4.10 5.13 1.91 Thailand 2.21 20.84 0.05 12.50 7.86 2.75 Vietnam 2.99 26.75 3.53 22.60 8.06 2.60 Major Importers 5/ 118.07 239.53 22.56 257.61 1.51 121.05 China 103.00 145.28 2.34 144.96 1.15 104.50 European Union 6/ 0.70 1.60 2.53 3.50 0.34 0.99 Indonesia 6.17 34.10 0.82 35.50 0.00 5.59 Nigeria 1.41 5.77 3.30 8.30 0.00 2.18 Philippines 3.40 12.37 5.42 17.40 0.00 3.79 Sel. Mideast 7/ 1.30 2.28 4.91 6.85 0.00 1.63 Selected Other Brazil 0.71 8.68 0.93 7.35 1.30 1.66 C. Amer & Carib 8/ 0.54 1.43 1.98 3.27 0.09 0.59 Egypt 0.46 3.90 0.16 4.05 0.15 0.31 Japan 1.60 7.29 0.84 8.13 0.06 1.55 Mexico 0.12 0.17 0.89 1.00 0.03 0.15 South Korea 1.21 3.59 0.33 4.18 0.19 0.75 ================================================================================ WASDE - 669 - 25 March 2026 World Rice Supply and Use (Milled Basis) 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Total 2/ Ending Stocks tion Imports Domestic Exports Stocks ================================================================================ 2025/26 Proj. World 3/ Feb 191.31 541.28 60.02 541.71 63.27 190.88 Mar 191.22 541.28 59.00 540.96 61.95 191.54 World Less China Feb 86.81 394.95 56.92 394.68 61.37 85.88 Mar 86.72 394.95 55.90 393.93 60.05 86.54 United States Feb 1.71 6.56 1.52 5.43 2.76 1.60 Mar 1.71 6.56 1.45 5.43 2.70 1.60 Total Foreign Feb 189.59 534.72 58.51 536.28 60.51 189.28 Mar 189.51 534.71 57.55 535.53 59.25 189.94 Major Exporters 4/ Feb 56.15 219.80 4.18 175.95 47.80 56.38 Mar 56.20 219.80 3.98 175.95 46.60 57.43 Burma Feb 0.95 12.00 0.01 9.40 2.60 0.95 Mar 0.95 12.00 0.01 9.40 2.60 0.95 India Feb 48.00 152.00 0.00 127.00 25.00 48.00 Mar 48.00 152.00 0.00 127.00 24.00 49.00 Pakistan Feb 1.91 9.40 0.02 4.20 5.10 2.03 Mar 1.91 9.40 0.02 4.20 5.10 2.03 Thailand Feb 2.75 20.40 0.05 12.65 7.20 3.35 Mar 2.75 20.40 0.05 12.65 7.00 3.55 Vietnam Feb 2.55 26.00 4.10 22.70 7.90 2.05 Mar 2.60 26.00 3.90 22.70 7.90 1.90 Major Importers 5/ Feb 121.09 240.85 22.45 261.13 2.34 120.92 Mar 121.05 240.85 22.25 261.13 2.34 120.68 China Feb 104.50 146.33 3.10 147.03 1.90 105.00 Mar 104.50 146.33 3.10 147.03 1.90 105.00 European Union 6/ Feb 0.99 1.77 2.30 3.60 0.40 1.06 Mar 0.99 1.77 2.30 3.60 0.40 1.06 Indonesia Feb 5.58 33.60 0.80 35.30 0.00 4.68 Mar 5.59 33.60 0.80 35.30 0.00 4.69 Nigeria Feb 2.18 5.54 3.20 8.50 0.00 2.42 Mar 2.18 5.54 2.90 8.50 0.00 2.12 Philippines Feb 3.79 12.30 4.60 17.60 0.00 3.09 Mar 3.79 12.30 4.40 17.60 0.00 2.89 Sel. Mideast 7/ Feb 1.68 2.23 5.05 7.25 0.00 1.71 Mar 1.63 2.23 5.05 7.25 0.00 1.66 Brazil Feb 1.86 7.60 0.85 7.35 1.35 1.61 Mar 1.66 7.60 0.85 7.35 1.35 1.41 C. Amer & Carib 8/ Feb 0.63 1.43 2.04 3.35 0.08 0.68 Mar 0.59 1.42 2.04 3.33 0.08 0.63 Egypt Feb 0.31 4.20 0.13 4.10 0.15 0.39 Mar 0.31 4.20 0.18 4.15 0.15 0.39 Japan Feb 1.55 7.54 0.80 8.13 0.09 1.67 Mar 1.55 7.54 0.80 8.13 0.09 1.67 Mexico Feb 0.14 0.19 0.90 1.02 0.01 0.20 Mar 0.15 0.19 0.85 1.02 0.01 0.16 South Korea Feb 0.75 3.54 0.41 3.85 0.18 0.67 Mar 0.75 3.54 0.41 3.85 0.18 0.67 ================================================================================ WASDE - 669 - 26 March 2026 World Cotton Supply and Use 1/ (Million 480-Pound Bales) ================================================================================ Supply Use Region Beginning Produc- Loss Ending Stocks tion Imports Domestic Exports 2/ Stocks ================================================================================ 2023/24 World 75.86 112.23 44.05 114.99 44.06 -0.21 73.30 World Less China 42.50 84.88 29.08 76.09 44.00 -0.21 36.59 United States 4.65 12.07 3/ 1.85 11.75 -0.03 3.15 Total Foreign 71.21 100.17 44.05 113.14 32.31 -0.18 70.15 Major Exporters 4/ 27.24 57.93 1.63 34.60 28.25 -0.18 24.12 Central Asia 5/ 3.62 5.00 0.05 3.90 1.65 0.00 3.13 Afr. Fr. Zone 6/ 0.96 5.02 3/ 0.10 4.59 0.00 1.29 S. Hemis. 7/ 11.37 22.03 0.15 4.44 19.24 -0.18 10.04 Australia 4.81 5.00 3/ 0.00 5.76 -0.18 4.22 Brazil 3.93 14.57 0.01 3.37 12.31 0.00 2.83 India 10.82 25.40 0.89 25.50 2.31 0.00 9.30 Major Importers 8/ 41.78 39.61 39.95 74.49 2.99 0.00 43.86 Mexico 0.38 0.87 0.70 1.50 0.20 0.00 0.24 China 33.36 27.35 14.97 38.90 0.06 0.00 36.71 European Union 9/ 0.40 1.04 0.47 0.51 1.14 0.00 0.27 Turkey 2.63 3.19 3.57 6.60 1.39 0.00 1.40 Pakistan 1.53 7.00 3.20 9.70 0.18 0.00 1.85 Indonesia 0.36 3/ 1.85 1.80 0.01 0.00 0.40 Thailand 0.14 3/ 0.40 0.45 0.00 0.00 0.09 Bangladesh 1.73 0.16 7.58 7.75 0.00 0.00 1.71 Vietnam 1.05 3/ 6.59 6.60 0.00 0.00 1.03 2024/25 Est. World 73.30 118.54 43.03 118.94 42.41 -0.22 73.76 World Less China 36.59 86.54 37.85 79.94 42.35 -0.22 38.92 United States 3.15 14.41 3/ 1.70 11.90 -0.03 4.00 Total Foreign 70.15 104.13 43.03 117.24 30.51 -0.19 69.76 Major Exporters 4/ 24.12 58.02 4.29 34.70 26.54 -0.19 25.37 Central Asia 5/ 3.13 5.09 0.10 3.94 1.47 0.00 2.91 Afr. Fr. Zone 6/ 1.29 4.44 3/ 0.10 4.27 0.00 1.37 S. Hemis. 7/ 10.04 24.70 0.15 4.49 19.14 -0.19 11.44 Australia 4.22 5.60 3/ 0.00 5.23 -0.19 4.79 Brazil 2.83 17.00 3/ 3.39 13.02 0.00 3.42 India 9.30 23.20 3.04 25.00 1.33 0.00 9.22 Major Importers 8/ 43.86 43.35 35.92 78.00 3.01 0.00 42.11 Mexico 0.24 1.00 0.60 1.35 0.18 0.00 0.31 China 36.71 32.00 5.19 39.00 0.06 0.00 34.84 European Union 9/ 0.27 1.24 0.41 0.46 1.26 0.00 0.20 Turkey 1.40 3.95 4.46 7.10 1.43 0.00 1.28 Pakistan 1.85 5.00 6.10 10.80 0.05 0.00 2.10 Indonesia 0.40 3/ 1.98 1.95 0.02 0.00 0.41 Thailand 0.09 3/ 0.51 0.50 0.00 0.00 0.11 Bangladesh 1.71 0.15 8.05 8.20 0.00 0.00 1.71 Vietnam 1.03 3/ 7.98 8.00 0.00 0.00 1.02 ================================================================================ WASDE - 669 - 27 March 2026 World Cotton Supply and Use 1/ (Million 480-Pound Bales) ================================================================================ Supply Use Region Beginning Produc- Loss Ending Stocks tion Imports Domestic Exports 2/ Stocks ================================================================================ 2025/26 Proj. World Feb 73.76 119.86 43.71 118.72 43.71 -0.22 75.11 Mar 73.76 120.99 43.91 118.58 43.91 -0.22 76.39 World Less China Feb 38.92 84.86 38.11 79.72 43.64 -0.22 38.75 Mar 38.92 85.49 38.31 79.08 43.84 -0.22 40.02 United States Feb 4.00 13.92 0.01 1.60 12.00 -0.08 4.40 Mar 4.00 13.92 0.01 1.60 12.00 -0.08 4.40 Total Foreign Feb 69.76 105.94 43.70 117.12 31.71 -0.14 70.71 Mar 69.76 107.08 43.90 116.98 31.91 -0.14 71.99 Major Exporters 4/ Feb 25.37 58.13 4.65 34.83 28.31 -0.16 25.18 Mar 25.37 58.76 5.45 34.83 28.51 -0.16 26.41 Central Asia 5/ Feb 2.91 4.81 0.20 3.94 1.42 0.00 2.57 Mar 2.91 4.81 0.20 3.94 1.42 0.00 2.57 Afr. Fr. Zone 6/ Feb 1.37 4.03 3/ 0.11 4.07 0.00 1.23 Mar 1.37 4.03 3/ 0.11 4.07 0.00 1.23 S. Hemis. 7/ Feb 11.44 25.37 0.15 4.51 21.08 -0.16 11.53 Mar 11.44 26.01 0.15 4.51 21.28 -0.16 11.96 Australia Feb 4.79 4.50 3/ 0.00 5.50 -0.16 3.95 Mar 4.79 4.50 3/ 0.00 5.70 -0.16 3.75 Brazil Feb 3.42 18.75 0.01 3.40 14.50 0.00 4.27 Mar 3.42 19.50 0.01 3.40 14.50 0.00 5.02 India Feb 9.22 23.50 3.20 25.00 1.40 0.00 9.52 Mar 9.22 23.50 4.00 25.00 1.40 0.00 10.32 Major Importers 8/ Feb 42.11 44.92 36.12 77.65 2.29 0.02 43.19 Mar 42.11 45.42 35.62 77.60 2.29 0.02 43.24 Mexico Feb 0.31 0.57 0.70 1.30 0.10 0.02 0.16 Mar 0.31 0.57 0.65 1.20 0.10 0.02 0.21 China Feb 34.84 35.00 5.60 39.00 0.08 0.00 36.36 Mar 34.84 35.50 5.60 39.50 0.08 0.00 36.36 European Union 9/ Feb 0.20 1.20 0.45 0.48 1.14 0.00 0.22 Mar 0.20 1.20 0.45 0.48 1.14 0.00 0.22 Turkey Feb 1.28 3.00 4.50 6.80 0.90 0.00 1.08 Mar 1.28 3.00 4.50 6.80 0.90 0.00 1.08 Pakistan Feb 2.10 5.00 5.70 10.80 0.05 0.00 1.95 Mar 2.10 5.00 5.50 10.60 0.05 0.00 1.95 Indonesia Feb 0.41 3/ 1.95 1.95 0.02 0.00 0.40 Mar 0.41 3/ 1.90 1.90 0.02 0.00 0.40 Thailand Feb 0.11 3/ 0.48 0.48 0.00 0.00 0.11 Mar 0.11 3/ 0.48 0.48 0.00 0.00 0.11 Bangladesh Feb 1.71 0.15 8.00 8.10 0.00 0.00 1.77 Mar 1.71 0.15 7.90 8.00 0.00 0.00 1.77 Vietnam Feb 1.02 3/ 8.10 8.10 0.00 0.00 1.02 Mar 1.02 3/ 8.00 8.00 0.00 0.00 1.02 ================================================================================ WASDE - 669 - 28 March 2026 World Soybean Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic Ending Stocks tion Imports Crush Total Exports Stocks ================================================================================ 2023/24 World 2/ 101.78 396.40 178.42 331.16 383.69 177.84 115.08 World Less China 69.44 375.56 66.42 232.16 261.89 177.77 71.77 United States 7.19 113.27 0.57 62.20 65.44 46.27 9.32 Total Foreign 94.59 283.13 177.85 268.97 318.25 131.57 105.76 Major Exporters 3/ 54.26 217.00 8.67 94.14 105.49 120.02 54.43 Argentina 17.00 48.21 7.79 36.58 43.83 5.11 24.05 Brazil 36.80 154.50 0.87 54.41 58.26 104.19 29.72 Paraguay 0.37 11.00 0.01 3.00 3.10 7.99 0.29 Major Importers 4/ 35.03 24.57 144.12 126.74 157.15 0.35 46.21 China 32.34 20.84 112.00 99.00 121.80 0.07 43.31 European Union 1.26 2.81 13.47 14.50 16.00 0.25 1.29 Southeast Asia 5/ 0.68 0.47 9.09 4.35 9.40 0.02 0.83 Mexico 0.56 0.20 6.46 6.53 6.60 0.01 0.62 2024/25 Est. World 2/ 115.08 427.19 179.20 359.04 413.40 184.22 123.84 World Less China 71.77 406.54 71.20 255.54 286.00 184.15 79.35 United States 9.32 119.05 0.79 66.55 69.09 51.23 8.84 Total Foreign 105.76 308.15 178.41 292.49 344.31 133.00 115.00 Major Exporters 3/ 54.43 237.01 7.07 105.14 116.24 121.12 61.14 Argentina 24.05 51.11 6.32 43.24 50.04 7.87 23.57 Brazil 29.72 171.50 0.73 58.00 62.00 103.14 36.81 Paraguay 0.29 10.20 0.00 3.70 3.80 6.41 0.29 Major Importers 4/ 46.21 24.58 142.49 133.15 164.79 0.42 48.06 China 43.31 20.65 108.00 103.50 127.40 0.07 44.49 European Union 1.29 2.93 14.71 15.40 17.00 0.33 1.60 Southeast Asia 5/ 0.83 0.45 10.10 5.11 10.18 0.01 1.18 Mexico 0.62 0.28 6.43 6.65 6.74 0.00 0.59 2025/26 Proj. World 2/ Feb 123.66 428.18 185.99 368.03 424.74 187.57 125.51 Mar 123.84 427.18 185.61 367.96 424.16 187.17 125.31 World Less China Feb 79.17 407.28 73.99 260.03 291.84 187.47 81.13 Mar 79.35 406.28 73.61 259.96 291.26 187.07 80.92 United States Feb 8.84 115.99 0.54 69.94 72.99 42.86 9.52 Mar 8.84 115.99 0.68 70.08 73.13 42.86 9.52 Total Foreign Feb 114.82 312.19 185.45 298.09 351.75 144.70 116.00 Mar 115.00 311.19 184.93 297.88 351.03 144.30 115.79 Major Exporters 3/ Feb 60.94 243.10 8.03 105.77 117.65 132.85 61.58 Mar 61.14 242.60 8.03 105.77 117.35 132.85 61.58 Argentina Feb 23.37 48.50 7.50 41.00 48.20 8.25 22.92 Mar 23.57 48.00 7.50 41.00 47.90 8.25 22.92 Brazil Feb 36.81 180.00 0.50 61.00 65.40 114.00 37.91 Mar 36.81 180.00 0.50 61.00 65.40 114.00 37.91 Paraguay Feb 0.29 11.50 0.02 3.60 3.73 7.70 0.38 Mar 0.29 11.50 0.02 3.60 3.73 7.70 0.38 Major Importers 4/ Feb 48.07 24.63 146.75 137.96 170.91 0.43 48.12 Mar 48.06 24.63 146.74 137.95 170.90 0.43 48.11 China Feb 44.49 20.90 112.00 108.00 132.90 0.10 44.39 Mar 44.49 20.90 112.00 108.00 132.90 0.10 44.39 European Union Feb 1.60 2.79 14.00 15.00 16.52 0.30 1.57 Mar 1.60 2.79 14.00 15.00 16.52 0.30 1.57 Southeast Asia 5/ Feb 1.19 0.42 10.95 5.81 11.26 0.02 1.29 Mar 1.18 0.42 10.94 5.80 11.24 0.02 1.27 Mexico Feb 0.59 0.28 6.70 6.80 6.89 0.01 0.68 Mar 0.59 0.28 6.70 6.80 6.89 0.01 0.68 ================================================================================ WASDE - 669 - 29 March 2026 World Soybean Meal Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Stocks tion Imports Domestic Exports Stocks Region Beginning Produc- Total Exports Ending ================================================================================ 2023/24 World 2/ 14.14 259.98 69.58 254.90 74.14 14.65 World Less China 13.20 181.57 69.55 177.75 72.71 13.86 United States 0.34 49.08 0.62 35.07 14.56 0.41 Total Foreign 13.81 210.90 68.96 219.83 59.58 14.24 Major Exporters 3/ 6.31 79.43 0.05 30.58 49.58 5.64 Argentina 2.30 28.54 0.00 3.50 24.89 2.44 Brazil 3.82 41.86 0.02 20.00 22.72 2.97 India 0.20 9.04 0.03 7.08 1.97 0.22 Major Importers 4/ 1.64 21.78 38.40 58.58 0.87 2.36 European Union 0.47 11.46 16.54 26.94 0.65 0.88 Mexico 0.15 5.16 1.94 7.08 0.00 0.16 Southeast Asia 5/ 0.98 3.39 18.10 21.04 0.22 1.21 China 0.94 78.41 0.03 77.15 1.43 0.79 2024/25 Est. World 2/ 14.65 281.91 77.68 272.61 83.04 18.59 World Less China 13.86 199.94 77.63 191.76 82.03 17.64 United States 0.41 53.02 0.73 37.23 16.57 0.36 Total Foreign 14.24 228.89 76.94 235.38 66.47 18.22 Major Exporters 3/ 5.64 86.79 0.29 30.83 54.95 6.95 Argentina 2.44 33.72 0.28 3.53 29.78 3.14 Brazil 2.97 44.27 0.01 20.30 23.39 3.55 India 0.22 8.80 0.01 7.00 1.78 0.25 Major Importers 4/ 2.36 23.28 44.01 65.08 1.05 3.51 European Union 0.88 12.17 20.61 31.24 0.65 1.76 Mexico 0.16 5.26 2.35 7.45 0.00 0.31 Southeast Asia 5/ 1.21 3.99 19.44 22.91 0.40 1.33 China 0.79 81.97 0.05 80.85 1.02 0.94 2025/26 Proj. World 2/ Feb 18.73 288.94 80.41 284.58 83.99 19.51 Mar 18.59 289.07 80.40 284.74 83.99 19.33 World Less China Feb 17.79 203.41 80.31 200.43 82.79 18.28 Mar 17.64 203.54 80.30 200.59 82.79 18.10 United States Feb 0.36 55.11 0.66 38.12 17.60 0.41 Mar 0.36 55.41 0.73 38.49 17.60 0.41 Total Foreign Feb 18.37 233.83 79.75 246.46 66.39 19.10 Mar 18.22 233.66 79.68 246.25 66.39 18.92 Major Exporters 3/ Feb 6.97 86.49 0.43 31.78 55.35 6.77 Mar 6.95 86.49 0.43 31.78 55.35 6.74 Argentina Feb 3.17 31.98 0.17 3.60 29.00 2.72 Mar 3.14 31.98 0.17 3.60 29.00 2.69 Brazil Feb 3.55 47.09 0.01 21.30 25.50 3.86 Mar 3.55 47.09 0.01 21.30 25.50 3.86 India Feb 0.25 7.42 0.25 6.88 0.85 0.20 Mar 0.25 7.42 0.25 6.88 0.85 0.20 Major Importers 4/ Feb 3.54 23.51 44.05 66.64 0.88 3.58 Mar 3.51 23.51 44.05 66.72 0.88 3.46 European Union Feb 1.76 11.85 19.45 30.94 0.60 1.52 Mar 1.76 11.85 19.45 30.94 0.60 1.52 Mexico Feb 0.31 5.37 2.55 7.90 0.00 0.33 Mar 0.31 5.37 2.55 7.90 0.00 0.33 Southeast Asia 5/ Feb 1.36 4.53 20.35 24.34 0.28 1.62 Mar 1.33 4.52 20.35 24.42 0.28 1.50 China Feb 0.94 85.54 0.10 84.15 1.20 1.23 Mar 0.94 85.54 0.10 84.15 1.20 1.23 ================================================================================ WASDE - 669 - 30 March 2026 World Soybean Oil Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Stocks tion Imports Domestic Exports Stocks Region Beginning Produc- Total Exports Ending ================================================================================ 2023/24 World 2/ 5.90 63.99 10.54 62.88 11.81 5.75 World Less China 4.89 45.18 10.16 43.98 11.71 4.55 United States 0.73 12.29 0.28 12.32 0.28 0.70 Total Foreign 5.18 51.70 10.26 50.57 11.53 5.04 Major Exporters 3/ 1.99 21.63 0.68 14.68 8.05 1.58 Argentina 0.72 7.25 0.00 1.77 5.53 0.67 Brazil 0.59 11.06 0.08 10.20 1.35 0.18 European Union 0.60 2.76 0.59 2.63 0.66 0.66 Major Importers 4/ 1.93 22.16 5.41 27.01 0.26 2.24 China 1.01 18.81 0.38 18.90 0.10 1.20 India 0.60 2.03 3.31 5.18 0.02 0.75 North Africa 5/ 0.30 0.96 1.15 2.00 0.14 0.27 2024/25 Est. World 2/ 5.75 70.07 14.05 68.26 15.19 6.41 World Less China 4.55 49.97 13.76 47.76 14.87 5.63 United States 0.70 13.25 0.16 12.20 1.13 0.79 Total Foreign 5.04 56.81 13.89 56.06 14.06 5.62 Major Exporters 3/ 1.58 24.08 0.95 15.47 9.91 1.24 Argentina 0.67 8.63 0.11 1.98 7.10 0.32 Brazil 0.18 11.83 0.09 10.41 1.49 0.19 European Union 0.66 2.93 0.76 3.01 0.70 0.63 Major Importers 4/ 2.24 23.64 7.85 30.52 0.51 2.71 China 1.20 20.10 0.30 20.50 0.32 0.78 India 0.75 1.98 5.47 6.65 0.03 1.53 North Africa 5/ 0.27 1.23 1.29 2.27 0.17 0.34 2025/26 Proj. World 2/ Feb 6.41 71.45 12.72 70.55 13.90 6.13 Mar 6.41 71.40 12.78 70.49 13.90 6.20 World Less China Feb 5.63 50.47 12.42 50.05 13.40 5.08 Mar 5.63 50.43 12.48 49.99 13.40 5.15 United States Feb 0.79 13.58 0.17 13.20 0.54 0.80 Mar 0.79 13.57 0.17 13.18 0.54 0.81 Total Foreign Feb 5.62 57.87 12.55 57.35 13.35 5.33 Mar 5.62 57.83 12.62 57.32 13.35 5.40 Major Exporters 3/ Feb 1.24 24.15 0.80 15.77 9.10 1.32 Mar 1.24 24.15 0.80 15.72 9.10 1.37 Argentina Feb 0.32 8.18 0.05 1.98 6.15 0.42 Mar 0.32 8.18 0.05 1.98 6.15 0.42 Brazil Feb 0.19 12.44 0.10 10.95 1.50 0.28 Mar 0.19 12.44 0.10 10.95 1.50 0.28 European Union Feb 0.63 2.85 0.65 2.76 0.85 0.53 Mar 0.63 2.85 0.65 2.71 0.85 0.58 Major Importers 4/ Feb 2.71 24.32 6.62 30.64 0.70 2.31 Mar 2.71 24.32 6.62 30.64 0.70 2.31 China Feb 0.78 20.97 0.30 20.50 0.50 1.05 Mar 0.78 20.97 0.30 20.50 0.50 1.05 India Feb 1.53 1.67 4.25 6.57 0.02 0.86 Mar 1.53 1.67 4.25 6.57 0.02 0.86 North Africa 5/ Feb 0.34 1.29 1.37 2.50 0.18 0.33 Mar 0.34 1.29 1.37 2.50 0.18 0.33 ================================================================================ WASDE - 669 - 31 March 2026 U.S. Quarterly Animal Product Production 1/ ================================================================================ Year Red Total Red and meat poultry meat & quarter Beef Pork 2/ Broiler Turkey 3/ poultry Egg Milk ================================================================================ Million Pounds Mil doz Bil lbs 2024 Annual 26984 27789 54947 46995 5121 52679 107626 9076 225.9 2025 I 6543 6956 13540 11571 1146 12835 26376 2148 56.9 II 6453 6706 13201 11885 1181 13192 26393 2153 58.8 III 6359 6614 13010 12432 1275 13850 26860 2217 58.2 IV 6646 7301 13986 12118 1242 13482 27468 2248 57.8 Feb Est. 26001 27577 53737 48003 4844 53356 107093 8653 231.5 Mar Est. 26001 27577 53737 48006 4844 53359 107097 8765 231.7 2026 I* 6195 7060 13293 11800 1190 13120 26413 2215 58.4 II* 6485 6840 13367 12100 1200 13440 26807 2265 59.7 III* 6485 6900 13422 12500 1250 13890 27312 2325 58.5 IV* 6645 7475 14159 12300 1290 13725 27884 2350 58.0 FebProj. 25920 28275 54353 48500 4965 54010 108363 9175 234.5 MarProj. 25810 28275 54241 48700 4930 54175 108416 9155 234.7 ================================================================================ U.S. Quarterly Prices for Animal Products ================================================================================ Year Barrows and Streers and gilts Broilers Turkeys Eggs Milk quarter 2/ 3/ 4/ 5/ 6/ 7/ ================================================================================ Dol./cwt Dol./cwt Cents/lb. Cents/lb. Cents/doz. Dol./cwt 2024 Annual 187.12 63.41 129.4 93.7 303.1 22.55 2025 I 205.02 63.59 130.8 94.8 675.3 23.23 II 225.22 69.69 135.9 119.3 344.4 21.20 III 239.62 77.05 121.9 156.8 283.0 20.70 IV 227.62 64.87 110.5 172.2 192.0 19.57 Feb Est. 224.37 68.80 124.8 135.8 373.7 21.17 Mar Est. 224.37 68.80 124.8 135.8 373.7 21.17 2026 I* 240.00 65.00 120.0 167.0 120.0 18.30 II* 241.00 74.00 126.0 155.0 115.0 19.90 III* 242.00 77.00 125.0 150.0 105.0 20.20 IV* 245.00 65.00 125.0 150.0 130.0 20.30 FebProj. 240.0 69.0 125.0 154.0 125.0 18.95 MarProj. 242.0 70.0 124.0 156.0 118.0 19.70 ================================================================================ WASDE - 669 - 32 March 2026 U.S. Meats Supply and Use ================================================================================ Disappearance Beg- Produc- Per Item inning tion Total Ending capita stocks 1/ Imports Supply Exports stocks Total 2/ 3/ ================================================================================ Million Pounds 4/ Beef 2024 638 27051 4635 32324 3007 602 28714 59.1 2025 Est. Feb 602 26067 5394 32063 2568 581 28914 59.2 Mar 602 26067 5471 32140 2577 577 28986 59.3 2026 Proj. Feb 581 25987 5575 32142 2425 560 29157 59.5 Mar 577 25877 5675 32128 2395 560 29173 59.6 Pork 2024 471 27804 1148 29422 7125 435 21862 49.9 2025 Est. Feb 435 27592 1112 29139 6982 433 21723 49.3 Mar 435 27592 1116 29143 6970 430 21743 49.3 2026 Proj. Feb 433 28289 1145 29868 7135 430 22303 50.5 Mar 430 28289 1145 29864 7185 430 22249 50.3 TotalRed Meat5/ 2024 1130 55038 6148 62316 10137 1058 51121 110.4 2025 Est. Feb 1058 53828 6871 61757 9557 1031 51169 109.9 Mar 1058 53828 6959 61845 9554 1024 51268 110.1 2026 Proj. Feb 1031 54444 7090 62565 9567 1011 51986 111.4 Mar 1024 54332 7210 62566 9586 1008 51972 111.3 Broiler 2024 835 46492 150 47477 6680 761 40035 101.1 2025 Est. Feb 761 47490 152 48403 6660 792 40951 102.9 Mar 761 47493 152 48406 6672 786 40948 102.9 2026 Proj. Feb 792 47981 132 48905 6670 785 41450 103.8 Mar 786 48179 132 49097 6670 785 41642 104.3 Turkey 2024 243 5121 37 5401 486 219 4697 13.8 2025 Est. Feb 219 4844 38 5101 417 165 4519 13.2 Mar 219 4844 38 5101 425 175 4501 13.2 2026 Proj. Feb 165 4965 40 5170 400 190 4580 13.4 Mar 175 4930 40 5145 400 190 4555 13.3 Total Poultry6/ 2024 1085 52175 190 53451 7187 985 45279 116.5 2025 Est. Feb 985 52842 192 54019 7121 968 45930 117.4 Mar 985 52845 193 54023 7143 973 45907 117.4 2026 Proj. Feb 968 53490 174 54633 7118 984 46531 118.7 Mar 973 53653 174 54800 7118 984 46698 119.1 RedMeat& Poultry 2024 2215 107214 6338 115767 17324 2043 96400 226.9 2025 Est. Feb 2043 106670 7063 115776 16677 2000 97099 227.3 Mar 2043 106673 7152 115868 16697 1997 97175 227.4 2026 Proj. Feb 2000 107934 7264 117198 16685 1995 98517 230.0 Mar 1997 107985 7384 117366 16704 1992 98670 230.4 ================================================================================ WASDE - 669 - 33 March 2026 U.S. Egg Supply and Use ================================================================================ 2023 2024 2025 Est. 2025 Est. 2026Proj. 2026Proj. Commodity Feb Mar Feb Mar ================================================================================ Million Dozen Eggs Supply BeginningStocks 18.8 23.1 14.2 14.2 17.6 17.1 Production 9151.2 9076.2 8653.4 8765.0 9175.0 9155.0 Imports 27.5 30.1 122.5 121.0 40.0 40.0 Total Supply 9197.4 9129.4 8790.1 8900.2 9232.6 9212.1 Use Exports 250.5 236.7 204.9 203.3 260.0 260.0 Hatching Use 1120.4 1148.2 1163.8 1163.8 1170.0 1170.0 Ending Stocks 23.1 14.2 17.6 17.1 21.0 21.0 Disappearance Total 7803.5 7730.3 7403.9 7516.0 7781.6 7761.1 Per Capita (number) 277.8 272.8 259.8 263.8 272.3 271.6 ================================================================================ U.S. Milk Supply and Use ================================================================================ 2023 2024 2025 Est. 2025 Est. 2026Proj. 2026Proj. Commodity Feb Mar Feb Mar ================================================================================ Billion Pounds Milk Production 226.3 225.9 231.5 231.7 234.5 234.7 Farm Use 1.0 1.0 1.0 1.0 1.0 1.0 FatBasisSupply BeginningStocks 14.4 13.8 13.1 13.1 12.8 12.6 Marketings 225.3 224.9 230.5 230.7 233.5 233.7 Imports 7.4 9.1 7.5 7.4 8.0 8.2 Total Supply 247.1 247.8 251.0 251.1 254.3 254.5 FatBasisUse Exports 10.5 11.8 16.6 16.7 17.5 18.0 Ending Stocks 13.8 13.1 12.8 12.6 13.1 13.1 Domestic Use 222.8 222.9 221.7 221.7 223.7 223.4 Skim-solidBasisSupply BeginningStocks 11.7 9.8 9.4 9.4 9.2 9.2 Marketings 225.3 224.9 230.5 230.7 233.5 233.7 Imports 6.3 6.8 6.8 6.9 7.0 7.0 Total Supply 243.3 241.5 246.7 247.0 249.7 249.8 Skim-solidBasisUse Exports 49.9 48.9 48.0 48.2 48.0 48.3 Ending Stocks 9.8 9.4 9.2 9.2 9.0 9.0 Domestic Use 183.6 183.3 189.5 189.6 192.7 192.6 ================================================================================ WASDE - 669 - 34 March 2026 U.S. Dairy Prices ================================================================================ Commod- 2023 2024 2025 Est. 2025 Est. 2026 Proj. 2026 Proj. ity Feb Mar Feb Mar ================================================================================ Dollars Per Pound Product Prices 1/ Cheese 1.7593 1.8634 1.7878 1.7878 1.605 1.615 Butter 2.6170 2.8870 2.2202 2.2202 1.680 1.870 Nonfat Dry Milk 1.1856 1.2420 1.2348 1.2348 1.315 1.390 Dry Whey 0.3618 0.4913 0.5956 0.5956 0.690 0.660 Milk Prices 2/ Dollars Per Cwt ClassIII 17.02 18.89 18.01 18.01 16.65 16.65 Class IV 19.12 20.75 17.38 17.38 15.70 17.15 All Milk 3/ 20.34 22.55 21.17 21.17 18.95 19.70 ================================================================================ WASDE - 669 - 35 March 2026 Reliability of March Projections 1/ ================================================================================ Differences between forecast and final estimate 90 percent Years Commodity and Root mean Confidence Below Above Region square error interval Average Smallest Largest Final Final ================================================================================ Million Metric Tons WHEAT Production World 0.5 0.9 2.4 0.0 8.0 33 11 U.S. 0.2 0.3 0.1 0.0 0.3 20 12 Foreign 0.6 1.0 2.4 0.1 8.0 33 11 Exports World 4.1 7.0 4.4 0.0 17.0 36 8 U.S. 3.0 5.1 0.7 0.0 2.4 22 21 Foreign 5.0 8.4 4.3 0.1 16.0 34 10 Domestic Use World 0.9 1.5 4.3 0.2 12.2 19 25 U.S. 3.6 6.1 0.9 0.0 2.4 15 29 Foreign 0.9 1.5 4.1 0.1 11.5 24 20 Ending Stocks World 4.0 6.8 5.6 0.2 14.1 31 13 U.S. 7.7 13.0 1.1 0.0 4.5 29 15 Foreign 4.3 7.2 4.9 0.0 13.5 30 13 COARSE GRAINS 2/ Production World 1.2 2.0 10.5 0.5 35.1 36 8 U.S. 0.2 0.3 0.2 0.0 1.8 18 12 Foreign 1.6 2.8 10.5 0.5 35.1 36 8 Exports World 5.0 8.4 5.3 0.0 24.2 30 14 U.S. 8.3 14.0 3.6 0.0 9.5 22 22 Foreign 8.0 13.5 5.2 0.1 21.5 28 16 Domestic Use World 0.9 1.6 7.2 0.1 24.2 26 18 U.S. 2.8 4.7 4.1 0.2 17.3 17 27 Foreign 1.1 1.9 7.2 0.4 24.6 29 15 Ending Stocks World 9.8 16.6 13.0 0.6 143.8 38 6 U.S. 13.3 22.3 4.5 0.1 15.3 24 20 Foreign 12.1 20.3 11.1 0.5 142.1 40 4 RICE, milled Production World 1.3 2.2 3.6 0.2 13.8 33 11 U.S. 1.2 2.0 0.0 0.0 0.2 11 6 Foreign 1.3 2.2 3.6 0.1 13.8 33 11 Exports World 7.8 13.1 1.6 0.1 5.3 34 10 U.S. 7.2 12.0 0.2 0.0 0.5 21 20 Foreign 8.7 14.6 1.6 0.1 4.9 33 11 Domestic Use World 1.1 1.9 3.2 0.2 13.9 30 14 U.S. 6.8 11.4 0.2 0.0 0.5 18 25 Foreign 1.1 1.9 3.1 0.2 13.5 30 14 Ending Stocks World 8.2 13.8 5.1 0.5 25.8 31 13 U.S. 18.1 30.4 0.2 0.0 0.4 23 19 Foreign 8.5 14.3 5.1 0.3 25.7 31 13 ================================================================================ WASDE - 669 - 36 March 2026 Reliability of March Projections (Continued) 1/ ================================================================================ Differences between forecast and final estimate 90 percent Years Commodity and Root mean Confidence Below Above Region square error interval Average Smallest Largest Final Final ================================================================================ Million Metric Tons SOYBEANS Production World 2.1 3.6 3.4 0.1 12.4 23 21 U.S. 1.3 2.2 0.7 0.0 3.2 19 18 Foreign 3.5 5.9 3.3 0.1 12.6 24 20 Exports World 5.3 9.0 3.0 0.0 12.8 29 14 U.S. 6.2 10.5 1.6 0.1 6.7 30 14 Foreign 13.7 23.1 2.8 0.1 16.8 22 22 Domestic Use World 2.0 3.4 3.1 0.0 11.4 22 22 U.S. 2.8 4.8 1.1 0.0 3.0 27 16 Foreign 2.3 3.9 2.6 0.1 12.8 21 23 Ending Stocks World 12.5 21.1 3.9 0.1 16.4 24 20 U.S. 38.4 64.7 1.9 0.1 7.2 14 30 Foreign 13.4 22.6 3.6 0.1 17.1 29 15 COTTON Production World 1.8 3.0 1.3 0.0 5.2 26 16 U.S. 0.9 1.6 0.1 0.0 0.3 14 28 Foreign 2.1 3.6 1.3 0.0 5.3 26 17 Exports World 5.2 8.7 1.4 0.0 6.5 23 20 U.S. 6.4 10.8 0.5 0.0 1.7 20 23 Foreign 6.8 11.5 1.2 0.0 5.8 25 19 Domestic Use World 3.2 5.5 2.0 0.0 16.1 23 21 U.S. 7.0 11.8 0.2 0.0 0.9 21 19 Foreign 4.0 6.7 2.2 0.1 15.3 24 20 Ending Stocks World 8.7 14.7 3.8 0.2 16.2 25 19 U.S. 17.9 30.1 0.6 0.0 2.2 16 28 Foreign 9.4 15.8 3.6 0.0 14.0 27 17 ================================================================================ WASDE - 669 - 37 March 2026 Reliability of United States March Projections 1/ ================================================================================ Differences between forecast and final estimate 90 percent Years Commodity and Root mean Confidence Below Above Region square error interval Average Smallest Largest Final Final ================================================================================ Million Bushels CORN Production 0.2 0.3 7 0 72 2 7 Exports 8.6 14.4 129 13 380 21 23 Domestic Use 2.7 4.6 144 9 474 18 26 Ending Stocks 14.8 24.9 175 3 713 25 19 SORGHUM Production 0.1 0.2 0 0 4 0 2 Exports 14.0 23.5 24 0 90 26 16 Domestic Use 15.0 25.2 29 1 178 18 26 Ending Stocks 40.0 67.4 22 1 148 17 27 BARLEY Production 0.9 1.6 1 0 11 22 4 Exports 29.0 48.8 5 0 20 16 24 Domestic Use 7.0 11.8 14 0 70 19 23 Ending Stocks 14.3 24.0 13 1 53 27 17 OATS Production 0.4 0.6 0 0 2 5 4 Exports 32.5 54.8 0 0 3 7 6 Domestic Use 5.2 8.8 10 0 36 16 27 Ending Stocks 16.3 27.4 10 0 47 25 17 Thousand Short Tons SOYBEAN MEAL Production 2.8 4.8 875 46 2917 30 14 Exports 8.5 14.3 608 1 2426 35 9 Domestic Use 2.4 4.1 577 41 2066 29 15 Ending Stocks 33.0 55.6 63 0 253 18 23 Million Pounds SOYBEAN OIL Production 2.7 4.6 402 7 1173 32 12 Exports 21.8 36.7 283 0 877 27 16 Domestic Use 2.3 3.9 316 9 760 27 17 Ending Stocks 17.4 29.3 251 17 721 25 19 ANIMAL PROD. 3/ Million Pounds Beef 2.5 4.3 538 77 1613 27 16 Pork 2.8 4.7 367 5 1667 23 20 Broilers 1.5 2.6 365 16 1501 25 18 Turkeys 3.1 5.2 127 3 447 18 25 Million Dozen Eggs 1.9 3.2 108 3 534 23 20 Billion Pounds Milk 1.3 2.2 1.7 0.1 5.3 24 19 ================================================================================