FEED OUTLOOK April 12, 1995 Approved by the World Agricultural Outlook Board ----------------------------------------------------------------------------- FEED OUTLOOK is published monthly (except January) by the Economic Research Service, U.S. Department of Agriculture, Washington, DC 20005-4788. FDS-0495. ----------------------------------------------------------------------------- HIGHLIGHTS -- Stocks Data Confirm Strong Corn Disappearance in December-February Quarter -- Corn Export Forecast Increased 25 Million Bushels; Feed Grain Imports Up -- Large Animal Inventories Support Feed Use -- Prospective Plantings Indicate Drop in Feed Grain Acreage for 1995 Corn ending stocks for 1994/95 are projected at 1,588 million bushels, down 22 million from last month, due to higher exports and slightly higher imports. Ending stocks of sorghum are projected at 86 million bushels, up slightly this month due to a reduction in expected exports. Small adjustments were also made in projected stocks of barley, up 5 million bushels, and oats, down 5 million. With the forecast increase in use, the projected farm price of corn for 1994/95 was raised to $2.20 to $2.30 per bushel, up 5 cents on each end of the range. The sorghum price forecast was also adjusted up by 5 cents to $2.05 to $2.15 per bushel. Stronger prices are also supported by 1995 planting intentions that were below expectations. USDA recently announced that loan rates for 1995 feed grain crops would be unchanged from 1994. CORN STOCKS INDICATE RECORD USE IN SECOND QUARTER U.S. corn stocks on March 1, 1995, were 5.59 billion bushels, up 40 percent from a year earlier. On-farm stocks increased substantially more than stocks held off-farm. Disappearance for the December-February quarter was a record 2.49 billion bushels. Food, seed, and industrial (FSI) use was 402 million bushels for the quarter, up 8 percent from the previous year. Pending final trade data for February, corn feed and residual use is estimated at 1,500 million bushels, up 20 percent. Corn exports for December-February were estimated at 590 million bushels, the highest quarterly total since 1989/90. The biggest gain in FSI use of corn for the quarter was in fuel alcohol, with smaller gains for sweeteners and starch. Producers have expanded production of fuel alcohol in anticipation of increased demand. At the end of February, ethyl alcohol stocks for fuel increased from both a year earlier and from January. This is a time when stocks might be expected to be low because it is near the end of the winter oxygenate period. In contrast to corn, disappearance for the other feed grains in December- February was lower than the same period a year ago due to lower supplies. Total March 1, 1995, stocks of sorghum and oats were little changed from 1994, while barley stocks were down 14 percent. FEED AND RESIDUAL USE TO REMAIN STRONG Boosted by an increase in poultry and hog numbers, the index of grain consuming animal units (GCAU's) in 1994/95 is up 1 percent to a record high and sets the stage for a large feed and residual disappearance. Feed and residual use of the four feed grains (corn, sorghum, barley, and oats) plus wheat in the September 1994-February 1995 period was up 14 percent from a year ago and 9 percent from 2 years ago. Corn comprised nearly 90 percent of the total feed and residual disappearance in this 6-month period, compared to 86 percent in 1993/94 when floods and wet conditions cut production and led to higher prices. With a record crop in 1994, corn prices have dropped from the year before and disappearance has increased. The current forecast of corn feed and residual for the year implies September-February use will account for 62.2 percent, slightly below 1993/94 but up from 61.2 percent in 1992/93. The U.S. inventory of all hogs and pigs on March 1 was up 2 percent from the year earlier to a record high. The December 1994-February 1995 pig crop was reported up 2 percent from the same period last year. The increase was from a higher number of pigs per litter, as the number of sows farrowing actually dropped slightly. The increased hog inventory is expected to keep feed needs above last year. Producers said they intend to reduce March-May farrowings 5 percent from a year earlier. This will reduce future hog numbers if producers stick to their reported intentions. Broiler producers, responding to increased domestic and foreign demand, have continued to set more broiler eggs than a year ago and as a result hatch more chicks. Feed needs are expected to remain strong through the remainder of the September 1994-August 1995 corn and sorghum marketing year. Cumulative chick placements in the hatchery supply flock (an indication of size of the flock) for August 1995 are up 7.6 percent from a year earlier, suggesting producers are planning to maintain numbers at least through the summer. Feed needs by the table egg and turkey industries are expected to be up slightly from last year, but the rate of increase is not as great as in the broiler industry. Egg production in 1995 is expected to be up 1.6 percent from last year with much of the increase in hatchery supplies. Table egg layer numbers on March 1 were up 1 percent from last year. Turkey production in 1995 is expected to be up 6 percent from last year. The cattle feeding sector has been expanding as the cattle herd has been increasing. In 1995, changes in the Mexican exchange rate are expected to increase the number of feeder cattle imported from Mexico. These cattle plus large domestic supplies mean continued strong feeding by the cattle industry. However, cattle on feed in the seven reporting States on March 1 were down 1 percent from last year. Fed cattle marketings in the 13 States that report quarterly are forecast to be above last year in 1994/95. The number of dairy cows in 22 selected States during February was about the same as last year. However, milk production was up 4 percent as output per cow increased. Grain and other concentrates fed on January 1 were up 2 percent. As a result, feed needs by the dairy industry are expected to remain strong through 1994/95. U.S. CORN EXPORT FORECAST RISES The projection of U.S. corn exports was increased 25 million bushels to 2.025 billion (51.5 million tons). This reflects further deterioration in China's corn export prospects, as well as a continued export strong pace for U.S. corn. China's 1994/95 exports, reported at 1.3 million tons for the first 5 months of the year, are now forecast to drop to 2.5 million tons. This is down 500,000 tons from last month's projections, and precipitously lower than last year's nearly 12 million tons. Despite lower exports and projected imports of 2.5 million tons, China's domestic corn prices remain high, constraining export opportunities. China's retreat from the Asian export market for corn widens the door for U.S. exports. The recent sale of U.S. corn to North Korea, the first since the Korean war, is a symbol of improved corn export prospects for U.S. corn. Additional improved prospects in Asian markets include Indonesia, which to date has imported nearly 500,000 tons U.S. corn. U.S. corn exports to South Korea continue strong despite its recent purchase of 55,000 tons of feed wheat from Canada, reportedly at a landed price of $144.80 per ton. This compares to recent purchases of U.S. corn which ranged around $143 per ton. Low supplies of feed wheat in the world market suggest there is limited potential for additional purchases. However, attempting to diversify purchases and minimize feed costs, South Korea is also buying rye, with imports projected at more than 750,000 tons of rye, mostly from Europe. Mexico's forecast imports of corn were revised downward this month by 250,000 tons, but this was offset by stronger prospects for U.S. corn in Europe and elsewhere. Forecast EU corn imports were boosted 500,000 tons as Spain's severe drought has reduced feed grain availabilities and the EU has announced it will allow additional imports at a reduced levy. The EU is allowing about one-half of Spain's annual reduced-levy imports to come in prior to the startup of GATT on July 1, 1995. ECONOMIC TURMOIL IN MEXICO REDUCES U.S. SORGHUM EXPORT PROSPECTS The U.S. sorghum export forecast was lowered 10 million bushels this month to 210 million bushels (5.35 million tons) due to a reduction in projected imports by Mexico. Economic uncertainties stemming from the weak Mexican currency and expectations of lower Mexican demand for imported feed grains led to this downward revision. While Mexico is critically important for the U.S. sorghum export market, accounting for around 60 percent of U.S. exports in 1994, exports to other destinations are up this year because of tighter supplies from other exporters. U.S. FEED GRAIN IMPORTS RISING Aggregate projections of U.S. imports of feed grains increased 8 percent this month, or 257,000 tons, to 3.2 million tons. This compares to last year's imports of 3.64 million tons. Forecast U.S. barley imports were raised 5 million bushels to 65 million as the pace of imports has not slowed as much as expected. Malting barley accounted for nearly half of the barley imported through January, up from 36 percent for the same period last year. Similarly, the pace of corn imports has remained surprisingly strong, leading to a 3-million-bushel increase in the import projection to 10 million bushels, almost half of last year's level. Virtually all of the barley and corn is coming from Canada. Oats imports are projected up an additional 5 million bushels this month to 105 million bushels, close to the 106.8 million imported in 1993/94. This was prompted by the strong pace of Canadian exports to date and on-going EU approval of export subsidies for oats from Finland and Sweden. TRANSPORTATION UPDATE Rail and barge shipments remained above seasonal levels through February. Barge shipments on the Illinois and Mississippi rivers totaled 2 million short tons in February, up 18 percent from February 1994. With the upper Mississippi closed by ice, nearly all of the volume moved on the Illinois. Shipments on the Ohio river averaged 300,000 short tons per week, up 144 percent from the prior year. Preliminary indications are that barge shipments of grain increased during March. Shipments through lock and dam 27 averaged 656,000 short tons per week, up 36 percent from February and 20 percent above March 1994. Volume on the Ohio river averaged 174,000 short tons per week, down 42 percent from February, but 39 percent above March 1994. Closure of the main (1,200 ft.) Melvin Price lock for repairs from December 27, 1994, to March 27, 1995, shifted some traffic to the Ohio river. The auxiliary (600 ft.) lock remained in service. March rail volume rose to 29,590 cars per week, 6 percent above the 10-year average for the month, and 18 percent above March 1994. 1995 PROSPECTIVE PLANTINGS DOWN Except for oats, farmers said they intend to plant significantly less feed grain acreage than 1994, according to Prospective Plantings, released March 31. Prospective acreage for corn of 75.3 million acres is down 5 percent from last year. This reduction largely reflects the increase in the set-aside requirement from zero to 7.5 percent under the acreage reduction program. However, planting intentions were still below most analysts' expectations. This may reflect the impact of soaring fertilizer prices, rotation needs, and the pull of strong cotton prices. The largest declines in corn acreage are expected in the major Corn Belt States. Soybean acreage in this region is expected to be up slightly. In the Southeast, the decline in corn plantings will be proportionately larger, with a sharp increase expected in cotton. Growers intend to plant 9.21 million acres of sorghum in 1995, down 6 percent from last year and the lowest since 1929. The largest decline from 1994 is likely in Texas, where most of the acreage will shift into cotton. Barley producers plan to sow 7.04 million acres, down 2 percent from 1994, and the lowest since planted acreage estimates were first made in 1926. Oats plantings are expected to be up 2 percent in 1995 to 6.75 million acres. However, this increase reflects the use of oats as a cover crop on idled corn land, and farmers intend to harvest only 3.65 million acres for grain. This would be down 9 percent from 1994 and the least amount harvested since estimates were first made in 1866. Actual plantings may vary from planting intentions because of the effects of weather, availability of inputs, changes in economic conditions, and the implications of the Prospective Plantings report. ****************************************************************************** * Information Contacts: * * * * Pete Riley (202) 501-8512 T.Q. Hutchinson (202) 219-0353 * * Allen Baker (202) 219-0839 Nancy Morgan (202) 501-8511 * * * * The next Feed Outlook will be released May 12, 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 1992/93 Sep-Nov 1,100 9,477 1 10,578 360 1,825 488 2,672 7,906 2.04 Dec-Feb 7,906 --- 1 7,907 350 1,416 463 2,229 5,678 2.00 Mar-May 5,678 --- 2 5,680 403 1,157 411 1,971 3,709 2.13 Jun-Aug 3,709 --- 3 3,712 399 899 301 1,599 2,113 2.19 Mkt. yr. 1,100 9,477 7 10,584 1,511 5,296 1,663 8,471 2,113 2.07 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 2,016 449 2,875 8,080 2.07 Dec-Feb 8,080 --- 4 8,084 402 1,500 590 2,493 5,591 2.18 Mkt. yr. 850 10,103 10 10,963 1,700 5,650 2,025 9,375 1,588 2.20-2.30 SORGHUM 1992/93 Sep-Nov 53 875 0 928 2 266 56 324 604 1.85 Dec-Feb 604 --- 0 604 1 67 101 170 434 1.86 Mar-May 434 --- 0 434 3 80 87 170 265 1.89 Jun-Aug 265 --- 0 265 2 56 32 90 175 2.07 Mkt. yr. 53 875 0 928 8 469 277 753 175 1.89 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 2.37 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 83 57 141 282 2.02 Mkt. yr. 48 655 0 703 7 400 210 617 86 2.05-2.15 ------------------------------------------------------------------------------- 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 1992/93 Jun-Aug 129 455 7 590 43 110 18 172 418 2.16 Sep-Nov 418 --- 2 420 37 14 22 73 347 1.92 Dec-Feb 347 --- 1 348 37 45 22 104 244 2.01 Mar-May 244 --- 2 246 54 23 18 95 151 2.02 Mkt. yr. 129 455 11 595 171 192 80 444 151 2.04 1993/94 Jun-Aug 151 398 3 552 43 92 15 150 403 1.97 Sep-Nov 403 --- 11 413 38 27 15 80 333 2.08 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 1.99 Sep-Nov 352 --- 14 366 38 30 19 87 279 2.02 Dec-Feb 279 --- 15 294 38 52 12 101 192 2.05 Mkt. yr. 139 375 65 579 175 225 70 470 109 2.01 OATS 1992/93 Jun-Aug 128 294 15 437 31 111 1.0 142 295 1.29 Sep-Nov 295 --- 12 307 29 33 2.1 64 242 1.30 Dec-Feb 242 --- 11 253 27 50 1.4 78 175 1.40 Mar-May 175 --- 17 192 39 39 1.3 79 113 1.46 Mkt. yr. 128 294 55 477 125 233 5.7 364 113 1.32 1993/94 Jun-Aug 113 207 17 337 32 84 1.5 118 219 1.35 Sep-Nov 219 --- 35 254 30 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 36 28 0.2 65 106 1.40 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 1.20 Sep-Nov 220 --- 34 254 30 32 0.2 62 192 1.19 Dec-Feb 192 --- 29 221 28 44 0.4 72 149 1.21 Mkt. yr. 106 230 105 440 125 210 1.0 336 104 1.21 ------------------------------------------------------------------------------- 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 82.8 1.90 % Change 8.6 25.3 -23.4 -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 84.3 1.77 % Change -11.2 -3.4 56.4 3.0 -8.6 144.9 -4.8 1.8 -6.5 1994/95 Sep-Nov 51.2 5.4 0.7 0.5 57.8 -0.8 57.0 Dec-Feb 38.1 2.1 1.1 0.6 42.0 0.7 42.7 Mar-May 30.0 1.8 0.5 0.4 32.6 -2.7 30.0 Jun-Aug 24.2 0.8 2.4 1.5 29.0 8.8 37.8 Mkt. yr. 143.5 10.2 4.63 3.1 161.4 6.10 167.5 85.3 1.96 % Change 20.1 -11.6 -21.7 -0.6 15.3 -36.3 12.0 1.2 10.7 ------------------------------------------------------------------------------ Table 3--Grain shipments and rates ------------------------------------------------------------------------------- 1992/93 ---------1993/94---------- ----1994/95---- Mkt. Yr. Mkt. Yr. Sep-Feb February Sep-Feb February ------------------------------------------------------------------------------- Barge shipments 1/ 2.5 2.8 2.7 1.7 2.7 2.0 (Million ton/month) Barge rate index 2/ 108.9 93.6 100.9 83.5 163.5 159.2 (Dec 1984 = 100) Railcar loadings 3/ 28.0 25.5 27.0 25.7 28.5 29.3 (1,000 cars/week) Rail rate index 2/ 113.8 115.2 115.6 115.6 116.4 116.9 (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 $/bu 1992/93 2.12 2.46 4.02 4.27 2.11 2.37 1.58 1993/94 2.55 2.85 4.95 4.91 2.05 2.48 1.55 Monthly 1993/94 Nov 2.63 2.94 5.18 5.15 2.16 2.48 1.51 Dec 2.81 3.08 5.51 5.43 2.14 2.57 1.56 Jan 2.89 3.22 5.53 5.52 2.15 2.55 1.57 Feb 2.83 3.14 5.35 5.41 2.16 2.63 1.52 1994/95 Nov 2.04 2.43 4.33 4.42 2.04 2.90 1.41 Dec 2.17 2.61 4.49 4.59 2.00 2.81 NQ Jan 2.22 2.72 4.44 4.63 2.02 2.81 1.46 Feb 2.27 2.72 4.48 4.63 2.06 2.82 1.42 ------------------------------------------------------------------------------ 1/ Reporting point changed from Texas High Plains to South Panhandle starting January 1991. Table 5--Selected feed and feed by-product prices ------------------------------------------------------------------------------- Soybean Cotton- Corn Corn Meat & Dists.' Wheat Alfalfa meal seed gluten gluten bone dried midlgs, farm 44% slv. meal, feed, meal, meal, grains, Kansas price Decatur, 41% slv. IL IL Kansas Lawrence- City IL Memphis pts. pts. City burg, IN 1/ ------------------------------------------------------------------------------- -------------------------------$/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 Nov 195.70 181.00 85.30 305.75 219.25 127.00 91.00 87.80 Dec 192.50 180.00 90.50 316.25 228.40 130.00 85.75 89.70 Jan 185.90 170.30 92.40 309.40 215.30 130.00 104.10 90.50 Feb 184.40 173.10 87.60 296.25 209.70 130.00 101.90 93.20 1994/95 Nov 150.90 120.50 86.85 232.50 172.70 124.00 67.90 92.50 Dec 145.40 114.20 84.30 239.40 163.10 120.75 71.30 92.50 Jan 145.10 106.75 82.20 230.50 176.25 105.60 60.00 92.10 Feb 149.40 97.50 81.00 221.25 181.00 97.00 62.50 94.20 ------------------------------------------------------------------------------- 1/ Reporting point changed from Kansas City to Central U.S. starting December 1 Table 6--Corn: Food, seed, and industrial uses --------------------------------------------------------------------------- Glucose Cereals and -----Alcohol--- & other Total Year HFCS dextrose Starch Fuel Beverage products F&I --------------------------------------------------------------------------- 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 20.69 29.17 409.88 Dec-Feb 99.91 51.52 60.12 141.50 20.47 28.85 402.37 Mkt year 465.00 230.00 250.00 535.00 83.00 117.00 1,680.00 ------------------------------------------------------------------------------ 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. 1991/92 13.51 9.90 24.50 15.23 11.03 1992/93 13.39 9.68 24.50 13.30 10.70 1993/94 14.49 10.98 25.44 14.63 12.61 Monthly 1993 Dec 14.33 10.58 24.50 15.02 11.36 Jan 15.40 11.65 25.25 12.95 13.31 Feb 15.12 11.37 26.00 13.23 13.61 Mar 14.92 11.17 26.00 14.28 13.61 1994 Dec 12.97 10.42 25.50 11.68 11.54 Jan 13.04 10.49 25.50 11.60 11.96 Feb 13.04 10.49 25.50 11.80 12.20 Mar 1/ 13.11 10.56 25.50 11.80 12.32 ------------------------------------------------------------------------------ 1/ Preliminary. Table 8--U.S. feed grain exports by selected destinations 1/ ------------------------------------------------------------------------------ Country/region ------1992/93------ ------1993/94------ 1994/95 Mkt. yr. Sep-Jan Mkt. yr. Sep-Jan Sep-Jan ------------------------------------------------------------------------------ CORN --------------------Thousand tons--------------------- Japan 14,138 6,007 12,214 5,948 6,214 Taiwan 5,333 2,470 5,077 2,641 2,245 Former USSR 4,721 2,519 2,909 2,820 333 South Africa 2,354 1,942 12 11 0 Sub-Saharan Africa 3,955 3,240 394 82 224 EU 1,378 367 1,765 539 760 Egypt 1,397 360 1,553 903 1,082 Canada 1,247 750 603 169 422 China 0 0 0 0 347 East Europe 1,103 303 48 48 67 Algeria 1,076 405 1,176 612 655 S. Korea 991 749 508 87 2,929 Mexico 506 374 1,468 131 1,783 Others 3,951 1,146 9,463 3,217 4,390 Total 42,150 20,630 37,191 17,206 21,450 SORGHUM Mexico 4,147 1,585 2,942 830 1,166 Japan 1,922 1,083 1,640 913 1,061 Others 809 144 432 152 467 Total 6,878 2,812 5,014 1,894 2,695 ---------------------------------------------------------- ------1992/93------ ------1993/94------ 1994/95 Mkt. yr. Jun-Jan Mkt. yr. Jun-Jan Jun-Jan BARLEY ---------------------------------------------------------- Saudi Arabia 579 499 344 5 0 Israel 263 136 335 266 427 Jordan 195 96 205 199 51 Others 711 183 550 365 514 Total 1,748 914 1,433 835 991 ------------------------------------------------------------------------------ Totals may not add due to rounding. Source: Bureau of the Census Table 9--U.S. oats imports by country of origin ------------------------------------------------------------------------------ Country/region ------1992/93------ ------1993/94------ 1994/95 Mkt. yr. Jun-Jan Mkt. yr. Jun-Jan Jun-Jan ------------------------------------------------------------------------------ Canada 625 397 1,011 756 844 Finland 119 23 526 368 374 Sweden 116 116 303 172 70 Other 87 65 0 0 0 Total 947 601 1,840 1,296 1,288 ------------------------------------------------------------------------------ Totals may not add due to rounding. Source: Bureau of the Census END-END-END