FEED OUTLOOK August 14, 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-0895. ----------------------------------------------------------------------------- HIGHLIGHTS o 1995 Corn Production Forecast at 8.1 Billion Bushels o 1995 Sorghum Crop Down; Hay Production To Expand o Strong Demand Expected To Pull Corn Stocks Below 800 Million Bushels o Corn Exports Continue to Rise in 1994/95, Outlook Strengthens for 1995/96 SUPPLY OUTLOOK IMPROVES BUT REMAINS WELL BELOW LAST YEAR Total U.S. feed grain supplies in 1995/96 are forecast up 2 percent from last month to 277.9 million metric tons, mainly reflecting higher than expected corn production. This has eased, but not erased, concerns about meeting strong domestic and international demand. Forecast prices are down from the previous month, but they remain relatively high. Despite the improved outlook, feed grain supplies are forecast to decline nearly 38 million metric tons from 1994/95. This month's production forecasts incorporate the first field-based surveys for corn and sorghum made by the National Agricultural Statistics Service (NASS). Acreage estimates are down from the June Acreage report for both corn and sorghum, as well as soybeans. This reflects widespread unfavorable planting conditions and means that a large amount of land was idled. CORN CROP FORECAST RAISED 337 MILLION BUSHELS Corn production is forecast at 8.122 billion bushels in 1995, up from 7.785 billion projected in July using non-survey based yields. Corn planted acreage fell 700,000 acres to 71.3 million, while harvested acres were down 300,000 to 64.7 million. However, this was more than outweighed by improved yield prospects. Average yields are forecast at 125.6 bushels per acre, which, if realized, would be the third highest ever. Planted acreage will be the lowest since 1988, when there was a large set-aside program. Harvested acres in 1995 are forecast to be higher than 1993, however, when floods and excess moisture not only led to lower plantings but to widespread abandonment. For the 10 objective yield States, corn stalk counts were record high. Forecast ear counts per acre are also at a record, but the lateness of the crop could mean more variability than normal. The status of the crop is highly variable this year because of the wide range of planting times and mixed weather patterns. Although there were a number of days of searing heat in July, damage was apparently limited by the stage of the crops at the time of the heat, sufficient soil moisture, and/or timely rains. Despite the late start, much of the crop progressed at a rapid pace in recent weeks, reducing but not eliminating concerns about damage from early frost. Among the largest producing States, the crop is furthest behind average progress in Missouri, Nebraska, and Kansas. However, in the northern tier of the Corn Belt, where frosts typically occur the earliest, development of the corn crop has been ahead of average. The average date of the first autumn freeze for much of northern part of the Corn Belt is October 1, while the average date for southern sections of the Corn Belt is around October 15. SORGHUM DOWN SHARPLY, SMALL INCREASES IN BARLEY AND OATS PRODUCTION Sorghum production in 1995 is forecast at 539 million bushels, down 37 million from last month's projection, mainly due to lower acres. This would just surpass the outturn of 1993. Yields in 1995 are forecast at 65.1 bushels per acre, down slightly from last month, while planted acreage slipped about 300 million acres to 9.1 million. This would be the lowest since 1929, while prospective acres harvested for grain would be the lowest since 1953. Most of the decline from June's intended plantings took place in Kansas, Illinois, and Nebraska. Forecast barley production was increased 10 million bushels to 385 million, due to slight improvements in yield prospects. Barley is the only feed grain to show an expected production increase over 1994, even though barley acreage has declined. Oats production is forecast at 186 million bushels, up about 5 million bushels from last month also due to slightly higher yields. Expected production is down 44 million bushels from 1994, however, and it would be the lowest oats production on record. HAY SUPPLIES TO INCREASE Acreage devoted to hay production in 1995/96 is up 2.5 percent from 1994/95. Alfalfa and alfalfa mixtures were up nearly 2 percent from the year earlier and all other hay was up 3 percent. The wet spring in the Midwest tended to encourage forage growth but the rain hampered harvesting and in scattered pockets may have reduced quality. For instance, the May 31 Weekly Weather and Crop Bulletin reported only 12 percent of the first crop alfalfa in Kansas was cut vs. 52 percent on average. Late cutting usually results in lowered quality and if rained on while drying, quality would also suffer. In 1995/96, all hay production is forecast at 157 million tons, up 5 percent from 150 million tons in 1994/95. Acres harvested and yields are both expected to be above last year. Alfalfa and alfalfa mixtures are forecast to be 6 percent above last year with the biggest part of the gain attributed to increased yields, up nearly 4 percent, while acreage harvested is up nearly 2 percent. All other hay production is forecast up nearly 4 percent, but yields are up only 0.5 percent and acreage slightly over 3 percent. Hay supplies in 1995/96 are expected to increase by more than 3 percent, appearing to about match needs. The index of roughage consuming animal units (RCAU's) in 1995/96 is up nearly 2 percent from 1994/95. The principal reason is the increase in the number of beef cattle, of which cows were up 4 percent from a year ago on January 1 and replacement heifers were up 2 percent. On July 1, 1995, beef cows were up 3 percent from a year earlier. EXPECTED FEED GRAIN USE BOOSTED BY LARGER SUPPLY The forecast of total corn use in 1995/96 was increased 225 million bushels this month, consistent with expectations of continuing strong demand. The largest component, feed and residual use, was raised 100 million bushels, while forecast corn exports went up 125 million. In addition, forecast beginning stocks are down 50 million bushels. Thus, projected ending stocks are up only 62 million bushels to 787 million. Although the tight corn situation has improved somewhat, stocks would still be the lowest since 1975. The ratio of stocks to use is projected at just 8.9 percent, even lower than those estimated for the mid-1970's. (Due to changes in the marketing year from an October 1 start to September 1, stock levels from that time are not fully comparable to today.) The situation for the other feed grains also continues fairly tight in spite of small gains in barley and oats supply and use. Sorghum is particularly tight. Recently, sorghum farm prices have been running close to or even higher than corn, whereas they normally are 90 to 95 percent of corn. Sorghum ending stocks are projected to drop to 47 million bushels, about matching the historic low reached in 1993/94. Total use of sorghum is projected down 40 million bushels from last month to 577 million, the lowest since the early 1960's. PRICE OUTLOOK EASES BUT STAYS RELATIVELY HIGH The season average farm price for corn in 1995/96 is projected at $2.45 to $2.85 per bushel, down 10 cents on each end of the range from a month ago. Projected price ranges for each of the other feed grains were also reduced by 10 cents. Despite the reductions, prices are expected to be relatively high compared to previous years, except in cases of severe crop shortfalls. The highest previous corn price was $3.21 in 1983/84. Other recent examples of unusually high prices are $2.50 in 1993/94, $2.54 in 1988/89, and $2.63 in 1984/85. With perceptions of improved crop prospects in recent weeks, the market's price expectations began to recede. However, strong prospects for export demand have provided underlying price support, preventing larger declines. Since mid-July, December contract corn futures prices have retreated from highs above $2.95 into the $2.70's range. An interesting pattern developed as price breaks encouraged importers to buy, and the buying tended to push prices back up. PROSPECTS FOR 1995/96 CORN EXPORTS STRENGTHEN, SORGHUM EXPORTS DROP The continued strong pace of forward buying for the 1995/96 marketing year, as well as higher projected U.S. supplies, pushed up the U.S. corn export forecast to 2 billion bushels (51 million tons). This is up 125 million bushels from last month's projection, but down only 150 million bushels from the revised 1994/95 corn export forecast. Many Asian markets, including Taiwan, Japan, and China, took advantage of a drop in the corn futures price in the first week of August to increase purchases for the 1995/96 marketing year. As of August 3, 1995, outstanding sales of 1995/96 corn moved up to 10.5 million tons, with nearly 1.6 million tons sold the week of first week of August. Projected 1995/96 world corn import demand expanded this month to 63 million tons, supported by a slight easing in price expectations since last month and continued strong Asian demand. Projected imports of corn by China were bumped up 1 million tons to 2.5 million. This would leave China as a net corn importer for the second consecutive year. Meanwhile, domestic corn prices in China remain persistently above world price levels with recent prices quoted as high as $190 a ton, equivalent to over $4.80 a bushel. Lower projected supplies of U.S. sorghum in 1995/96 are likely to drop exports to 180 million bushels. This is down 20 million bushels from last month's forecast and lower than the upwardly revised estimate of 220 million bushels for 1994/95. The 1994/95 U.S. corn export estimate was revised upwards again this month by 50 million bushels to 2.15 billion bushels (55 million tons) based on the strong pace of sales to date. U.S. corn export projections for 1994/95 have edged up almost monthly since last August's estimate of 1.45 billion bushels. More than 80 percent of the export gains since the August 1994 projection are due to the change in China's net trade position. This month China's 1994/95 import forecast was increased 800,000 tons to 4.3 million. TRADE NUMBERS FINALIZED FOR 1994/95 OATS AND BARLEY U.S. barley exports for the 1994/95 marketing year were 66.2 million bushels. Exports edged past imports of 65.9 million bushels, making the United States a net barley exporter again. Imports of malting barley from Canada reached record levels, and accounted for approximately 50 percent of total barley imports. Meanwhile, oats imports for 1994/95 came in at 93.2 million bushels. While lower than 1993/94's record of 107 million bushels, it was the second highest on record. Forecasts for 1995/96 barley imports and exports remain unchanged from last month at 70 and 50 million bushels, respectively. However, a reduction in U.S. oats supplies from the previous year is projected to increase imports in 1995/96 to 115 million bushels, up 5 million from last month's estimate. Canada is expected to remain the dominant oats supplier, with prospects for imports from Scandinavia somewhat uncertain. The outlook for Finland and Sweden's exports will hinge on EU policy decisions as well as export availability. TRANSPORTATION: BARGE SHIPMENTS AND RATES ARE UP Flooding conditions held barge shipments of grain and oilseeds on the Mississippi and Illinois river system to 2.3 million short tons during June 1995. July saw a quick rebound in volume with grain traffic through Lock & Dan 27 averaging more than 1 million short tons per week, 25 percent above July 1994. Preliminary indications for August are for further growth in river traffic. During the first week of August, 1.2 million short tons of grain moved through Lock & Dam 27. Last year the facility averaged 0.6 million short tons per week. Some of this increase appears to represent a diversion from rail to barge. Historically, barge volume on the Mississippi and Illinois rivers averages 3.2 million to 3.4 million short tons per month during August to October. This year's volume is expected to run somewhat above the historical averages. The Bureau of Labor Statistics' Barge Rate Index (1984=100) climbed 12 percent in June to 143.3. Rates rose still more sharply, 18 percent, in July to 169.3 and, in early August, appear to be increasing again. Shippers in the Minneapolis area have been hardest hit by climbing barge rates. Barge rates are quoted as a percentage of 1976 benchmark rates. In early August, shippers in the Minneapolis area offered as much as 380 percent of tariff for barge service. On the middle-Mississippi river, shippers were reported to be paying 260 percent of tariff. The Minneapolis premium is caused by a fundamental characteristic of grain transportation by barge. Very little dry-bulk cargo is available for upstream movements from Mississippi river export points. So, barges that carry grain to export points usually return upstream empty. Barge owners attempt to maximize use of their equipment by loading as far downstream as possible. Moreover, transit times through locks on the middle and upper Mississippi rivers are greater than on the uncontrolled river below St. Louis and the highly efficient tows of 30 or more barges are only available below St. Louis. As a result, barge owners require a premium for shipments originating above St. Louis. In times of high demand, the premium can be substantial. ****************************************************************************** * 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 September 13, 1995. * * * ****************************************************************************** Table 1--Feed Grains: Marketing year supply and disappearance 1/ ------------------------------------------------------------------------------- Year/ Beg. Produc- Im- Supply FSI Feed & Ex- Total End. Farm Qtr. stocks tion ports resid. ports disp. stks. price ------------------------------------------------------------------------------- CORN -------------------------Million bushels--------------------- $/bu 1993/94 Sep-Nov 2,113 6,336 5 8,455 378 1,705 435 2,518 5,937 2.34 Dec-Feb 5,937 --- 8 5,945 371 1,248 330 1,949 3,996 2.71 Mar-May 3,996 --- 6 4,002 419 954 270 1,642 2,360 2.67 Jun-Aug 2,360 --- 1 2,361 420 798 293 1,511 850 2.35 Mkt. yr. 2,113 6,336 21 8,470 1,588 4,704 1,328 7,620 850 2.50 1994/95 Sep-Nov 850 10,103 2 10,955 410 2,015 449 2,875 8,080 2.07 Dec-Feb 8,080 --- 4 8,084 403 1,499 590 2,493 5,592 2.18 Mar-May 5,592 --- 3 5,595 448 1,163 568 2,179 3,416 2.34 Jun-Aug 3,416 --- 3 3,419 450 972 542 1,964 1,455 Mkt. yr. 850 10,103 12 10,965 1,710 5,650 2,150 9,510 1,455 2.25 1995/96 Mkt. yr. 1,455 8,122 10 9,587 1,775 5,025 2,000 8,800 787 2.45-2.85 SORGHUM 1993/94 Sep-Nov 175 534 0 709 2 222 39 263 446 2.22 Dec-Feb 446 --- 0 446 2 108 60 170 276 2.59 Mar-May 276 --- 0 276 3 82 64 148 128 2.39 Jun-Aug 128 --- 0 128 2 41 38 81 48 2.10 Mkt. yr. 175 534 0 709 8 453 202 662 48 2.31 1994/95 Sep-Nov 48 655 0 703 2 214 64 280 422 1.91 Dec-Feb 422 --- 0 422 1 79 61 142 281 2.02 Mar-May 281 --- 0 281 2 67 54 123 158 2.16 Jun-Aug 158 --- 0 158 2 29 41 72 86 Mkt. yr. 48 655 0 703 7 390 220 617 86 2.15 1995/96 Mkt. yr. 86 539 0 624 7 390 180 577 47 2.30-2.70 ------------------------------------------------------------------------------- Table 1--Feed Grains: Marketing year supply and disappearance, (cont.) 1/ ------------------------------------------------------------------------------- Year/ Beg. Produc- Im- Supply FSI Feed & Ex- Total End. Farm Qtr. stocks tion ports resid. ports disp. stks. price ------------------------------------------------------------------------------- BARLEY -----------------------Million bushels--------------------- $/bu 1993/94 Jun-Aug 151 398 3 552 43 92 15 150 403 1.91 Sep-Nov 403 --- 11 413 38 27 15 80 333 2.02 Dec-Feb 333 --- 24 357 38 83 12 133 224 2.16 Mar-May 224 --- 34 258 56 40 24 119 139 2.21 Mkt. yr. 151 398 71 621 175 241 66 482 139 1.99 1994/95 Jun-Aug 139 375 24 538 43 122 20 186 352 2.00 Sep-Nov 352 --- 14 366 38 30 19 87 279 1.98 Dec-Feb 279 --- 14 292 38 51 11 99 193 2.05 Mar-May 193 --- 14 207 56 22 17 95 113 2.15 Mkt. yr. 139 375 66 580 175 226 66 467 113 2.03 1995/96 Mkt. yr. 113 385 70 567 175 240 50 465 102 2.20-2.60 OATS 1993/94 Jun-Aug 113 207 17 337 32 84 1.5 118 219 1.35 Sep-Nov 219 --- 35 254 29 30 0.7 60 194 1.33 Dec-Feb 194 --- 31 225 27 51 0.5 79 147 1.42 Mar-May 147 --- 24 170 37 28 0.2 65 106 1.39 Mkt. yr. 113 207 107 427 125 193 3.0 321 106 1.36 1994/95 Jun-Aug 106 230 20 356 32 104 0.2 136 220 1.19 Sep-Nov 220 --- 34 254 30 32 0.2 62 192 1.19 Dec-Feb 192 --- 23 215 28 38 0.4 66 149 1.21 Mar-May 149 --- 16 165 36 28 0.2 64 101 1.36 Mkt. yr. 106 230 93 429 125 202 1.0 328 101 1.22 1995/96 Mkt. yr. 101 186 115 402 125 185 1 311 91 1.30-1.70 ------------------------------------------------------------------------------- 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 0.8 39.4 0.1 39.5 Mar-May 29.4 2.0 0.5 0.6 32.5 -2.0 30.5 Jun-Aug 22.8 1.4 2.0 1.3 27.5 8.1 35.6 Mkt. yr. 134.5 11.9 3.8 3.2 153.4 3.9 157.3 82.7 1.90 % Change 8.6 25.3 -23.5 -8.4 8.2 -37.9 6.2 2.5 3.63 1993/94 Sep-Nov 43.3 5.6 0.6 0.5 50.1 -1.0 49.0 Dec-Feb 31.7 2.7 1.8 0.8 37.1 1.1 38.1 Mar-May 24.2 2.1 0.9 0.5 27.6 -0.7 27.0 Jun-Aug 20.3 1.0 2.7 1.6 25.5 10.2 35.7 Mkt. yr. 119.5 11.5 5.9 3.4 140.3 9.6 149.8 84.0 1.78 % Change -11.2 -3.4 56.5 7.5 -8.5 144.9 -4.7 1.6 -6.2 1994/95 Sep-Nov 51.2 5.4 0.7 0.6 57.9 -0.8 57.1 Dec-Feb 38.1 2.0 1.1 0.6 41.8 0.7 42.5 Mar-May 29.6 1.7 0.5 0.5 32.2 -0.9 31.3 Jun-Aug 24.7 0.7 2.1 1.4 28.9 8.8 37.7 Mkt. yr. 143.5 9.9 4.32 3.0 160.8 7.9 168.6 84.8 1.99 % Change 20.1 -13.8 -26.9 -10.9 14.6 -17.7 12.5 1.0 11.5 1995/96 Mkt. yr. 127.6 9.9 5.1 3.0 145.6 6.8 152.4 87.3 1.75 % Change -11.1 0.0 18.3 -1.5 -9.4 -13.7 -9.6 3.0 -12.2 ------------------------------------------------------------------------------ Table 3--Grain shipments and rates ------------------------------------------------------------------------------- 1992/93 ---------1993/94---------- ----1994/95---- Mkt. Yr. Mkt. Yr. Sep-Jun Jun Sep-Jun Jun ------------------------------------------------------------------------------- Barge shipments 1/ 2.5 2.8 2.7 2.5 2.8 2.3 (Million ton/month) Barge rate index 2/ 108.9 93.6 95.1 84.1 152.9 143.3 (Dec 1984 = 100) Railcar loadings 3/ 28.0 25.4 25.6 23.3 28.4 28.4 (1,000 cars/week) Rail rate index 2/ 113.8 115.2 115.4 114.8 117.0 117.7 (Dec 1984 = 100) ------------------------------------------------------------------------------- 1/ Illinois & Mississippi rivers. Includes soybeans and all grains. Source: U.S. Army Corps of Engineers 2/ Source: Bureau of Labor Statistics 3/ Includes soybeans and all grains. Source: Association of American Railroads. Table 4--Cash feed grain prices ------------------------------------------------------------------------------ Corn, Corn, Sorghum, Sorghum, Barley, Barley, Oats, No. 2, No. 2, No. 2, No. 2, No. 2, No. 3 or No. 2, Yel, Yel, Yel, Yel, feed, better, Heavy Ctrl. Gulf Texas Gulf Duluth Malting, white, IL ports South ports Minn. Minn. Panhandle ------------------------------------------------------------------------------ Mkt. yr. $/bu $/bu $/cwt $/cwt $/bu $/bu $/bu 1992/93 2.12 2.46 4.06 4.27 2.11 2.37 1.58 1993/94 2.55 2.85 4.95 4.91 2.05 2.48 1.55 Monthly 1994 Mar 2.76 3.05 5.12 5.22 2.07 2.65 1.55 Apr 2.61 2.88 4.80 4.89 2.08 2.73 1.46 May 2.58 2.81 4.90 4.88 2.11 2.84 1.37 Jun 2.61 2.85 4.98 4.77 2.05 2.86 1.47 1995 Mar 2.36 2.79 4.63 4.67 2.02 2.85 1.54 Apr 2.41 2.79 4.68 4.70 1.97 NQ 1.62 May 2.50 2.84 4.93 4.90 2.11 NQ 1.76 Jun 2.65 3.04 5.26 5.13 2.22 3.15 1.73 ------------------------------------------------------------------------------ Table 5--Selected feed and feed by-product prices ------------------------------------------------------------------------------- Soybean Cotton- Corn Corn Meat & Dists.' Wheat Alfalfa meal seed gluten gluten bone dried midlgs, farm 44% slv. meal, feed, meal, meal, grains, Kansas price Decatur, 41% slv. IL IL Central Lawrence- City IL Memphis pts. pts. U.S. burg, IN ------------------------------------------------------------------------------- ------- ------------------------$/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 1994 Mar 182.00 174.00 88.60 288.50 204.70 127.00 83.90 95.60 Apr 176.40 166.25 89.90 278.10 198.10 122.00 75.60 100.00 May 181.10 157.75 91.00 263.50 207.50 118.40 66.40 105.00 Jun 183.00 154.10 91.25 263.75 205.10 116.00 64.10 94.10 1995 Mar 145.70 100.30 82.10 215.60 180.75 93.75 73.90 94.20 Apr 151.00 98.10 77.40 206.25 160.60 93.50 55.75 95.20 May 148.10 92.75 78.50 196.50 159.60 98.00 49.70 96.30 Jun 149.10 108.75 79.90 208.10 161.60 98.90 63.61 90.60 ------------------------------------------------------------------------------- Table 6--Corn: Food and industrial uses --------------------------------------------------------------------------- Glucose Cereals and ---Alcohol--- & other Year HFCS dextrose Starch Fuel Beverage products Total --------------------------------------------------------------------------- Million bushels 1992/93 Sep-Nov 92.33 54.45 58.83 104.36 20.70 29.17 359.84 Dec-Feb 88.36 47.21 57.70 107.47 20.50 28.85 350.09 Mar-May 110.36 55.06 59.34 110.91 21.15 29.64 386.46 Jun-Aug 122.99 57.74 62.16 102.77 20.95 29.64 396.25 Mkt year 414.04 214.47 238.03 425.51 83.30 117.30 1492.65 1993/94 Sep-Nov 98.23 55.79 61.71 112.23 20.69 29.42 378.08 Dec-Feb 95.00 49.58 57.60 119.33 20.47 29.10 371.07 Mar-May 117.68 56.79 61.57 112.44 20.92 29.74 399.15 Jun-Aug 131.28 60.89 62.66 114.26 20.92 29.74 419.74 Mkt year 442.18 223.05 243.54 458.26 83.00 118.00 1,568.04 1994/95 Sep-Nov 104.16 58.79 62.63 134.45 20.84 29.42 410.28 Dec-Feb 99.91 51.52 60.12 141.50 20.61 29.10 402.76 Mar-May 123.28 58.49 61.45 137.75 21.07 29.74 431.78 Jun-Aug 137.66 61.20 65.81 131.30 21.07 29.74 446.78 Mkt year 465.00 230.00 250.00 545.00 83.60 118.00 1,691.60 1995/96 Mkt year 480.00 235.00 255.00 583.00 84.00 118.00 1,755.00 --------------------------------------------------------------------------- Table 7--Wholesale corn milling product and by-product prices ------------------------------------------------------------------------------ Corn meal, Brewers' Sugar, HFCS, 42% Corn yellow, grits, destrose, tank cars, starch, New York Chicago Midwest Midwest fob Midwest ------------------------------------------------------------------------------ $/cwt $/cwt cents/lb cents/lb $/cwt Mkt. yr. 1992/93 13.39 9.68 24.50 13.30 10.70 1993/94 14.49 10.98 25.44 14.63 12.61 1994/95 1/ 13.17 10.55 25.74 13.29 12.18 Monthly 1994 Apr 14.77 11.06 26.00 15.85 13.31 May 14.65 11.00 26.00 15.85 12.95 Jun 14.75 11.38 26.00 15.85 12.80 Jul 13.01 10.44 26.00 15.85 13.01 1995 Apr 13.17 10.62 25.50 11.80 12.65 May 13.22 10.67 25.50 11.80 12.89 Jun 13.59 11.04 25.50 11.70 13.22 Jul 1/ 13.84 11.29 25.50 11.80 13.64 ------------------------------------------------------------------------------ 1/ Preliminary. Table 8--U.S. feed grain exports by selected destinations 1/ ------------------------------------------------------------------------------ Country/region ------1992/93------ ------1993/94------ 1994/95 Mkt. yr. Sep-May Mkt. yr. Sep-May Sep-May ------------------------------------------------------------------------------ CORN --------------------Thousand tons--------------------- Japan 14,138 10,834 12,214 9,797 11,718 Taiwan 5,333 4,163 5,077 4,122 4,571 Former USSR 4,721 4,318 2,909 2,821 140 South Africa 2,354 2,354 12 12 126 Sub-Saharan Africa 3,955 3,926 394 82 369 EU 1,378 1,057 1,765 1,568 2,354 Egypt 1,397 890 1,553 976 1,904 Canada 1,247 1,070 603 330 670 China 1,103 0 0 0 1,877 East Europe 0 918 48 48 0 Algeria 1,076 750 1,176 951 867 S. Korea 991 902 508 143 5,916 Mexico 506 469 1,468 699 2,408 Others 3,951 2,847 9,463 4,664 7,838 Total 42,150 34,498 37,191 26,212 40,758 SORGHUM Mexico 4,147 3,750 2,942 2,314 2,001 Japan 1,922 1,619 1,640 1,362 1,713 Others 809 705 432 377 811 Total 6,878 6,073 5,014 4,053 4,524 ---------------------------------------------------------- ------1992/93------ ------1993/94------ 1994/95 Mkt. yr. Mkt. yr. Mkt.yr. BARLEY ---------------------------------------------------------- Saudi Arabia 579 344 236 Israel 263 335 717 Jordan 195 251 51 Others 711 504 439 Total 1,748 1,433 1,443 ------------------------------------------------------------------------------ Totals may not add due to rounding. Source: Bureau of the Census Table 9--U.S. imports by country of origin ------------------------------------------------------------------------------ Country/region ------1992/93------ ------1993/94------ 1994/95 Mkt. yr. Mkt. yr. Mkt.yr. ------------------------------------------------------------------------------ OATS --------------------Thousand tons--------------------- Canada 625 1,011 1,161 Finland 119 526 374 Sweden 116 303 70 Other 87 0 0 Total 1/ 947 1,840 1,605 BARLEY, MALTING Canada 150 453 716 Other 0 0 0 Total 1/ 151 453 716 BARLEY, OTHER 2/ Canada 97 1,098 702 Other 0 5 16 Total 1/ 97 1,103 718 ------------------------------------------------------------------------------ 1/ Totals may not add due to rounding. 2/ Mainly consists of barley for feeding, includes seed barley starting January 1994. Source: Bureau of the Census END-END-END