NOTE: THIS IS A CORRECTION OF WASDE-312 ISSUED ON MARCH 12, 1996. TABLES 5, WORLD AND U.S. SUPPLY AND USE FOR OILSEEDS & 10, U.S. SOYBEANS AND PRODUCT SUPPLY AND USE ARE CORRECTED. ON TABLE 10 IT IS THE LAST LINE ONLY THAT HAS BEEN CORRECTED. THE REST OF THE REPORT IS UNCHANGED. WHEAT: U.S. 1995/96 supply and use projections are unchanged from last month and the projected price range for wheat is also unchanged at $4.40 to $4.50 per bushel. Projected 1995/96 global supply, use, and trade are down from last month, but ending stocks are up. Global imports are down because of reduced forecast imports by Brazil, Algeria, Morocco, and several other countries. Exports are below last month's forecast for the EU, Canada, Romania, and Turkey, but slightly higher for India. COARSE GRAINS: Projected U.S. 1995/96 ending stocks of corn are down 50 million bushels from last month because of higher exports. Projected ending stocks of oats are down 5 million bushels due to lower imports. For barley, reduced imports and higher exports drop feed and residual use and ending stocks. Although the lower forecast ending stocks for corn suggest higher prices, reported prices received by farmers to date have been below expectations, forcing a reduction in the weighted season-average price. The price range for corn is up 5 cents on the low end but down 15 cents on the high end to $3.05 to $3.25 per bushel. Global 1995/96 coarse grain production, use, and trade are up slightly from last month, but ending stocks are down. The major changes in production are for Argentina, South Africa, and Zimbabwe. Expected corn production in Argentina is down 500,000 tons because of a reduction in the planted acres that will be harvested for grain. Good weather conditions to date account for larger prospective corn crops in South Africa and Zimbabwe. Forecast exports for South Africa are up 500,000 tons for the local May-April marketing year, but only 250,000 for the U.S. September-August year. U.S. corn exports are up because of smaller expected exports from Argentina and larger imports by Japan, Egypt, and Jordan. RICE: U.S. 1995/96 rough rice supply and use projections are unchanged from last month. However, the projected price range is raised 25 cents on the low end and 5 cents on the high end to $8.50 to $9.30 per cwt because of continued strong domestic prices observed through the first 7 months of the marketing year and firm international prices. Global rice production, consumption, exports, and ending stocks for 1995/96 are projected higher than last month. Larger crops in Indonesia, Thailand, and the Philippines more than offset a smaller harvest in Bangladesh. This month, USDA adjusts the way it handles Indonesia's rice supply and use. The 1995/96 global marketing year now includes rice harvested in Indonesia in calendar year 1996 instead of 1995. The bulk of Indonesia's production is harvested early in the year, and therefore, any crop shortfall or surplus would affect the volume of trade in calendar 1996 or 1995/96. Under the previous method, the 1996 rice harvest would have been included in 1996/97. USDA's supply and use database for Indonesia has been revised back to 1980/81. OILSEEDS: U.S. soybean, sunflowerseed, and rapeseed crush for 1995/96 are all reduced this month, mainly because of lowered prospects for U.S. vegetable oil and soybean meal exports. Production estimates have been increased sharply for China and India. Increases in China's rapeseed, peanut, and cottonseed crops and India's soybean and rapeseed crops account for most of this month's 1-percent increase in 1995/96 global oilseed production to 254.9 million tons. Other significant changes include an increase of 0.3 million tons in Argentina's 1994/95 soybean crop estimate, to 12.5 million tons. The larger Argentina production was reflected in increased soybean crush and product shipments early in the 1995/96 (October-September) year. Estimated U.S. soybean stocks for 1995/96 are raised 10 million bushels this month to 200 million bushels, reflecting slightly lower soybean crush prospects of 1.37 billion bushels. The lower crush, plus a reduction in the soybean oil extraction rate to 11.2 pounds per bushel and higher domestic use, results in lower soybean oil stocks, even though the soybean oil export forecast is down 150 million pounds from last month, to 1.65 billion pounds. U.S. soybean oil use is raised 100 million pounds this month. U.S. season-average farm prices prospects for soybeans are lowered this month to a range of $6.60 to $7.00 per bushel while soybean oil prices are cut to a range of 23.0 to 25.0 cents per pound. Soybean meal prices are unchanged at $210 to $235 per short ton. SUGAR: U.S. sugar production in fiscal year 1995/96 is projected at 7.50 million short tons, raw value, down 20,000 tons from last month's forecast. Beet sugar production is forecast at 4.0 million tons, down 50,000 tons from last month. The cane sugar production forecast is increased 30,000 tons to account for a revision in the Florida forecast to 1.8 million tons. The TRQ is assumed to be fully filled because any prospective shortfalls can be reallocated among countries. Sugar deliveries are forecast 100,000 tons higher than last month because of very strong deliveries to date. High prices will moderate the increase in deliveries during the remainder of the fiscal year. LIVESTOCK, POULTRY, AND DAIRY: U.S. red meat and poultry output in the first quarter of 1996 is surpassing expectations. Production estimates are up from last month for beef (200 million pounds), pork (25 million), and broilers (100 million). Slaughter numbers for cattle, primarily from feedlots, are higher than expected while hog and broiler slaughter are in line with expectations. Average weights for hogs and broilers are heavier than forecast. Production estimates for the rest of the year are unchanged from last month. Fed cattle prices have been weaker than expected while hog prices have exceeded forecast levels. The second-quarter price forecast for cattle is lowered and the hog price is raised. Broiler exports in December 1995 were much above anticipated levels. Exports probably continued at a high level in early 1996. While prospects for exports to Russia are clouded by recent developments, prospects for other markets are bright. The forecast of total broiler exports for 1996 is up slightly from last month. The National Agricultural Statistics Service has released revised estimates for 1994 and 1995 milk production. The level of milk production was only slightly below previously published estimates, as a lower number of cows more than offset higher output per cow. Reflecting these new data, the milk production forecast for 1995/96 is down slightly from last month. Milk prices are exceeding expectations and the forecast is raised slightly. COTTON: See page 25 for highlights. APPROVED: DAN GLICKMAN SECRETARY OF AGRICULTURE * * * * * * * * * * * The next issue of this report will be released 8:30 a.m. ET on April 11, 1996. The cotton portion of the report will be released 3:00 p.m. ET on April 10, 1996. To subscribe to this report call 1-800-999-6779. For information on electronic delivery options, call 202-720-5447. This report was prepared by the Interagency Commodity Estimates Committees and approved by the World Agricultural Outlook Board, Gerald A. Bange, Chairperson, 202-720-6030. Contact committee chairpersons at 202-720-9805. * * * * * * * * * * * INTERAGENCY COMMODITY ESTIMATES COMMITTEES Wheat: Gerald R. Rector, Chairperson, WAOB Frank Gomme, FAS; Ralph Tapp, AMS; Bradley Karmen, FSA; Edward W. Allen, ERS. Rice: Andrew C. Aaronson, Chairperson, WAOB Lloyd Fleck, FAS; Ralph Tapp, AMS, Eugene Rosera, FSA; Randall D. Schnepf, ERS. Feed Grains: Gerald R. Rector, Chairperson, WAOB Alan Riffkin, FAS; Phillip W. Sronce, FSA; Ralph Tapp, AMS; Peter Riley, ERS. Soybeans, Cottonseed and Oils: Jim L. Matthews, Chairperson, WAOB David McGuire, FAS; Scott O. Sanford, ERS; Ralph Tapp, AMS; Nancy Morgan, FSA. Cotton: Russell G. Barlowe, Chairperson, WAOB Abdullah A. Saleh, FAS; Carol Skelly, FSA; Ross Griffith, AMS; Leslie Meyer, ERS. Sugar: Edmond Missiaen, Chairperson, WAOB Joseph Somers, FAS; Robert Barry, FSA; Peter Buzzanell, ERS Meat Animals: James E. Nix, Chairperson, WAOB Peter Downing, FAS; John Mengel, FSA; Ralph Tapp, AMS; Ron Gustafson, ERS. Poultry: James E. Nix, Chairperson, WAOB Ralph Dutrow, FAS; John Mengel, FSA; Sue Trudell, AMS; Milton Madison, ERS. Dairy: James E. Nix, Chairperson, WAOB Arthur Coffing, FAS; John Mengel, FSA; Robert R. Miller, AMS; James Miller, ERS. 1996 WASDE RELEASE DATES During 1996 the WASDE report will be released on the following schedule. The Cotton WASDE report is released at 3 p.m. ET and the full report is released at 8:30 a.m. ET on the dates shown: April 10, cotton; April 11, full report. May 9, cotton; May 10, full report. June 11, cotton; June 12, full report. July 11, cotton; July 12, full report. Aug. 9, cotton; Aug. 12, full report. Sept. 10, cotton; Sept. 11, full report. Oct. 10, cotton; Oct. 11, full report. Nov. 8, cotton; Nov. 12, full report. Dec. 11, cotton; Dec. 12, full report. WORLD AND U.S. SUPPLY AND USE FOR GRAINS 1/ WASDE-312-4 World and U.S. Supply and Use for Grains ======================================================= : Production : Total supply Commodity :==================================== : World : U.S. : World : U.S. ======================================================= : Million metric tons Total grains 3/ : 1993/94 : 1702.91 256.91 2065.05 342.92 1994/95 (Est.) : 1745.97 354.60 2060.33 404.44 1995/96 (Proj.) : February : 1679.18 274.58 1974.20 339.87 March : 1681.59 274.58 1978.38 339.80 : Wheat : 1993/94 : 559.34 65.22 704.13 82.62 1994/95 (Est.) : 523.52 63.17 664.40 81.14 1995/96 (Proj.) : February : 534.60 59.48 648.25 75.17 March : 534.50 59.48 648.83 75.17 : Rice, milled : 1993/94 : 353.83 5.24 408.10 6.71 1994/95 (Est.) : 361.94 6.55 413.25 7.64 1995/96 (Proj.) : February : 367.67 5.68 415.47 6.96 March : 369.87 5.68 419.27 6.96 : Coarse grains 4/ : 1993/94 : 789.73 186.45 952.82 253.59 1994/95 (Est.) : 860.51 284.89 982.68 315.66 1995/96 (Proj.) : February : 776.91 209.42 910.49 257.74 March : 777.22 209.42 910.27 257.67 : Corn : 1993/94 : 471.52 160.95 578.95 215.16 1994/95 (Est.) : 554.81 256.62 626.83 278.46 1995/96 (Proj.) : February : 498.12 187.30 589.69 227.13 March : 499.05 187.30 590.40 227.26 ======================================================= METRIC CONVERSION FACTORS 1 Hectare = 2.4710 Acres 1 Kilogram = 2.205 Pounds --------------------------------------------------------------------- 1 Metric Ton : = Domestic Unit * Factor --------------------------------------------------------------------- Wheat & Soybeans : = bushels * .027216 Rice : = cwt * .045359 Rapeseed & Sunflowerseed : = cwt * .045359 Corn, Sorghum & Rye : = bushels * .025401 Barley : = bushels * .021772 Oats : = bushels * .014515 Sugar : = short tons * .907185 Cotton : = 480-lb bales * .217720 --------------------------------------------------------------------- HDR201380000001 GRAIN SUMMARY PART TWO WASDE-312-4 World and U.S. Supply and Use for Grains ======================================================================== : Trade : Consumption : Ending stocks Commodity :===================================================== : World : U.S. : World : U.S. : World : U.S. ======================================================================== : Million metric tons Total grains 3/ : 1993/94 : 233.72 76.28 1750.68 222.92 314.37 43.72 1994/95 (Est.) : 236.20 98.11 1763.55 246.17 296.78 60.17 1995/96 (Proj.) : February : 236.18 99.25 1745.12 214.98 229.08 25.64 March : 235.65 100.74 1746.25 214.74 232.12 24.32 : Wheat : 1993/94 : 118.18 33.41 563.24 33.74 140.88 15.47 1994/95 (Est.) : 112.29 32.34 550.07 35.01 114.33 13.79 1995/96 (Proj.) : February : 113.31 34.70 551.55 31.05 96.70 9.42 March : 111.73 34.70 550.30 31.05 98.54 9.42 : Rice, milled : 1993/94 : 16.56 2.52 356.79 3.32 51.31 0.87 1994/95 (Est.) : 21.30 3.34 363.86 3.26 49.39 1.04 1995/96 (Proj.) : February : 18.21 2.74 367.53 3.41 47.93 0.80 March : 18.33 2.74 369.70 3.41 49.57 0.80 : Coarse grains 4/ : 1993/94 : 98.98 40.34 830.65 185.86 122.17 27.38 1994/95 (Est.) : 102.62 62.43 849.62 207.90 133.06 45.34 1995/96 (Proj.) : February : 104.66 61.81 826.04 180.51 84.45 15.42 March : 105.59 63.30 826.26 180.28 84.01 14.10 : Corn : 1993/94 : 66.51 33.74 506.94 159.82 72.02 21.60 1994/95 (Est.) : 72.18 55.31 535.48 183.58 91.35 39.57 1995/96 (Proj.) : February : 75.66 55.88 533.70 159.65 55.99 11.60 March : 77.03 57.15 534.69 159.65 55.70 10.46 ======================================================================== HDR201380000001 OILSEEDS SUMMARY PART ONE WASDE-312-5 World and U.S. Supply and Use for Oilseeds 1/ ======================================================= : Production : Total Supply Commodity :==================================== : World : U.S. : World : U.S. ======================================================= Oilseeds : 1993/94 : 227.74 59.50 250.98 69.02 1994/95 (Est.) : 261.29 79.72 280.91 86.90 1995/96 (Proj.) : February : 252.51 68.49 278.06 79.21 March : 254.88 68.49 280.63 79.17 Oilmeals : 1993/94 : 129.94 30.15 135.64 31.40 1994/95 (Est.) : 142.21 33.19 148.02 34.44 1995/96 (Proj.) : February : 144.35 32.69 150.78 34.06 March : 145.22 32.46 151.82 33.84 Vegetable Oils : 1993/94 : 62.46 7.47 69.04 9.82 1994/95 (Est.) : 68.54 8.58 74.23 10.65 1995/96 (Proj.) : February : 70.58 8.44 75.89 10.55 March : 70.86 8.33 76.22 10.39 : Soybeans : 1993/94 : 117.40 50.92 137.43 59.05 1994/95 (Est.) : 137.28 68.49 154.04 74.32 1995/96 (Proj.) : February : 123.37 58.56 145.37 67.81 March : 123.75 58.56 145.91 67.81 Soymeal : 1993/94 : 80.77 27.68 84.51 27.93 1994/95 (Est.) : 87.33 30.18 91.02 30.37 1995/96 (Proj.) : February : 86.89 29.82 91.19 30.07 March : 87.20 29.63 91.43 29.89 Soybean Oil : 1993/94 : 18.17 6.33 20.17 7.06 1994/95 (Est.) : 19.84 7.08 21.58 7.59 1995/96 (Proj.) : February : 19.77 7.04 21.48 7.56 March : 19.80 6.96 21.52 7.49 : Sunflowerseed : 1993/94 : 20.75 1.17 21.31 1.26 1994/95 (Est.) : 23.53 2.19 24.28 2.31 1995/96 (Proj.) : February : 25.94 1.82 26.88 1.95 March : 25.89 1.82 26.84 1.95 Sunflower Meal : 1993/94 : 8.11 0.33 8.37 0.33 1994/95 (Est.) : 9.41 0.65 9.65 0.66 1995/96 (Proj.) : February : 10.39 0.57 10.65 0.58 March : 10.35 0.56 10.61 0.57 Sunflower Oil : 1993/94 : 6.93 0.26 7.54 0.29 1994/95 (Est.) : 7.93 0.53 8.45 0.56 1995/96 (Proj.) : February : 8.93 0.46 9.47 0.50 March : 8.96 0.45 9.53 0.49 ======================================================= HDR201380000001 OILSEEDS SUMMARY PART TWO World and U.S. Supply and Use for Oilseeds 1/ ========================================================================= :: Exports : Consumption 2/ : Ending Stocks Commodity :====================================================== :: World : U.S. : World : U.S. : World : U.S. ========================================================================= Oilseeds : 1993/94 : 38.01 16.56 188.51 39.22 19.62 6.68 1994/95 (Est.) : 43.77 23.81 207.77 43.99 25.75 10.27 1995/96 (Proj.) : February : 43.34 22.80 212.07 43.07 19.09 5.83 March : 43.08 22.83 213.55 42.73 20.05 6.10 Oilmeals : 1993/94 : 44.33 5.13 129.80 26.07 5.81 0.20 1994/95 (Est.) : 47.61 6.38 140.98 27.81 6.60 0.26 1995/96 (Proj.) : February : 47.72 5.49 145.01 28.33 5.59 0.24 March : 48.12 5.31 145.56 28.30 5.70 0.24 Vegetable Oils : 1993/94 : 23.73 1.16 63.39 7.88 5.69 0.77 1994/95 (Est.) : 26.82 2.02 68.87 7.90 5.36 0.74 1995/96 (Proj.) : February : 25.74 1.49 70.15 8.00 5.67 1.05 March : 25.75 1.41 70.40 7.98 5.56 1.00 : Soybeans : 1993/94 : 28.04 16.03 101.54 34.72 16.76 5.69 1994/95 (Est.) : 31.84 22.81 110.35 38.24 22.16 9.11 1995/96 (Proj.) : February : 30.92 22.04 109.37 37.56 15.76 5.16 March : 30.81 22.04 109.76 37.29 16.10 5.43 Soymeal : 1993/94 : 29.93 4.86 80.77 22.94 3.69 0.14 1994/95 (Est.) : 31.55 6.09 86.30 24.07 4.23 0.20 1995/96 (Proj.) : February : 31.57 5.26 87.50 24.63 3.65 0.18 March : 31.89 5.08 87.58 24.63 3.48 0.18 Soybean Oil : 1993/94 : 4.84 0.69 18.33 5.87 1.74 0.50 1994/95 (Est.) : 6.07 1.22 19.91 5.86 1.71 0.52 1995/96 (Proj.) : February : 5.24 0.82 19.41 5.92 2.13 0.83 March : 5.23 0.75 19.49 5.96 2.05 0.77 : Sunflowerseed : 1993/94 : 2.47 0.10 17.59 0.66 0.75 0.07 1994/95 (Est.) : 3.58 0.29 20.20 1.31 0.95 0.10 1995/96 (Proj.) : February : 3.95 0.20 22.57 1.16 1.02 0.07 March : 3.96 0.22 22.64 1.14 1.00 0.07 Sunflower Meal : 1993/94 : 2.10 0.04 8.11 0.29 0.23 0.00 1994/95 (Est.) : 2.67 0.09 9.38 0.57 0.26 0.00 1995/96 (Proj.) : February : 2.75 0.05 10.38 0.53 0.30 0.00 March : 2.73 0.05 10.30 0.52 0.30 0.00 Sunflower Oil : 1993/94 : 2.36 0.20 7.03 0.06 0.52 0.03 1994/95 (Est.) : 3.29 0.44 7.88 0.08 0.57 0.04 1995/96 (Proj.) : February : 3.36 0.36 8.91 0.10 0.60 0.04 March : 3.42 0.35 8.93 0.10 0.59 0.04 ========================================================================= 1/ Aggregate of local marketing years with Brazil and Argentina on an Oct.-Sept. year. 2/ Crush only for oilseeds, soybeans, and sunflowerseeds. HDR101380000001 HDR201380000001 WASDE - U.S. WHEAT WASDE-312-6 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 1995/96 Projections Item : 1993/94 : 1994/95 :=============================== : : Est. : February March =============================================================================== Area : Million acres Planted : 72.2 70.3 69.2 69.2 Harvested : 62.7 61.8 61.0 61.0 Yield per harvested : Bushels acre : 38.2 37.6 35.8 35.8 : Million bushels Beginning stocks : 531 568 507 507 Production : 2396 2321 2186 2186 Imports : 109 92 70 70 Supply, total : 3036 2981 2762 2762 Food : 872 852 860 860 Seed : 96 89 106 106 Feed and residual : 272 345 175 175 Domestic, total : 1240 1287 1141 1141 Exports : 1228 1188 1275 1275 Use, total : 2467 2475 2416 2416 Ending stocks : 568 507 346 346 Farmer-owned reserve : 6 0 0 0 CCC inventory : 150 142 120 120 Free stocks : 412 365 226 226 Outstanding loans : 67 64 25 15 Avg. farm price ($/bu.) 2/ : 3.26 3.45 4.40-4.50 4.40-4.50 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 1994/95 (estimated) : Million bushels Beginning stocks : 227 201 45 67 28 568 Production : 971 515 434 304 97 2321 Supply, total 3/ : 1202 767 480 386 147 2981 Domestic use : 586 282 231 107 81 1287 Exports : 422 292 212 222 40 1188 Use, total : 1008 574 443 329 121 2475 Ending stocks, total : 194 193 37 57 26 507 : 1995/96 (projected) : Beginning stocks : 194 193 37 57 26 507 Production : 824 475 450 334 102 2186 Supply, total 3/ : 1019 699 486 409 149 2762 Domestic use : 477 257 197 122 88 1141 Exports : 400 325 265 245 40 1275 Use, total : 877 582 462 368 128 2416 Ending stocks, total : March : 142 117 24 41 22 346 February : 142 117 24 41 22 346 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning June 1. 2/ Marketing-year weighted average price received by farmers. 3/ Includes imports. HDR201380000001 WASDE - U.S. RICE WASDE-312-7 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 1995/96 Projections Item : 1993/94 : 1994/95 :=============================== : : Est. : February March =============================================================================== TOTAL : Area : Million acres Planted : 2.92 3.35 3.12 3.12 Harvested : 2.83 3.32 3.09 3.09 Yield per harvested : Pounds acre : 5510 5964 5621 5621 : Million hundredweight Beginning stocks 2/ : 39.4 25.8 31.4 31.4 Production : 156.1 197.8 173.9 173.9 Imports : 6.9 7.0 7.5 7.5 Supply, total : 202.5 230.6 212.8 212.8 Domestic & residual 3/ : 101.5 98.3 104.2 104.2 Exports, total 4/ : 75.2 100.9 84.0 84.0 Rough : 3.6 18.5 8.0 8.0 Milled (rough equiv.) : 71.5 82.4 76.0 76.0 Use, total : 176.7 199.2 188.2 188.2 Ending stocks : 25.8 31.4 24.6 24.6 CCC inventory : 0.0 0.1 0.0 0.0 Free stocks : 25.8 31.3 24.6 24.6 Avg. farm price ($/cwt) 5/ : 7.98 6.78 8.25-9.25 8.50-9.30 : LONG GRAIN : Harvested acres (mil.) : 2.03 2.38 2.31 2.31 Yield (pounds/acre) : 5082 5609 5265 5265 Beginning stocks : 21.6 15.1 14.5 14.5 Production : 103.1 133.4 121.7 121.7 Supply, total 6/ : 130.9 154.5 142.7 142.7 Domestic & residual 3/ : 67.2 59.0 65.0 65.0 Exports 7/ : 48.6 81.0 64.0 64.0 Use, total : 115.8 140.0 129.0 129.0 Ending stocks : 15.1 14.5 13.7 13.7 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.81 0.94 0.78 0.78 Yield (pounds/acre) : 6590 6866 6676 6676 Beginning stocks : 15.8 10.0 15.8 15.8 Production : 53.0 64.3 52.1 52.1 Supply, total 6/ : 70.9 74.9 69.4 69.4 Domestic & residual 3/ : 34.3 39.2 39.2 39.2 Exports 7/ : 26.6 19.9 20.0 20.0 Use, total : 60.9 59.1 59.2 59.2 Ending stocks : 10.0 15.8 10.2 10.2 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning August 1. 2/ Includes the following quantities of broken kernel rice (type undetermined) not included in estimates of beginning stocks by type (in mil. cwt): 1993/94-2.0; 1994/95-0.7; 1995/96-1.1. 3/ Residual includes unreported use, processing losses and estimating errors. Use by type may not add to total rice use because of the difference in brokens between beginning and ending stocks. 4/ Includes rough rice and milled rice exports. Milled rice exports are converted to an equivalent rough basis. 5/ Marketing-year weighted average price received by farmers. 6/ Includes imports. 7/ Exports by type of rice are estimated. HDR201380000001 WASDE - U.S. FEED USE, ANIMAL OUTPUT & PRICES WASDE-312-8 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 1995/96 Projections Item : 1993/94 : 1994/95 :=============================== : : Est. : February March =============================================================================== FEED GRAINS : Area : Million acres Planted : 98.8 102.8 93.7 93.7 Harvested : 82.4 92.5 82.5 82.5 Yield per harvested : Metric tons acre : 2.26 3.08 2.54 2.54 : Million metric tons Beginning stocks : 63.1 27.4 45.3 45.3 Production : 186.2 284.6 209.2 209.2 Imports : 3.9 3.3 2.9 2.8 Supply, total : 253.2 315.2 257.3 257.3 Feed and residual : 139.3 158.7 131.5 131.3 Food, seed & industrial : 46.2 48.8 48.6 48.6 Domestic, total : 185.5 207.5 180.1 179.9 Exports : 40.3 62.4 61.8 63.3 Use, total : 225.8 269.9 242.0 243.2 Ending stocks, total : 27.4 45.3 15.4 14.1 Farmer-owned reserve : 3.3 2.1 0.0 0.0 CCC inventory : 1.3 1.2 1.2 1.2 Free stocks : 22.8 42.0 14.2 12.9 Outstanding loans : 2.3 9.2 1.4 1.4 : CORN : Area : Million acres Planted : 73.2 79.2 71.2 71.2 Harvested : 62.9 72.9 65.0 65.0 Yield per harvested : Bushels acre : 100.7 138.6 113.5 113.5 : Million bushels Beginning stocks : 2113 850 1558 1558 Production : 6336 10103 7374 7374 Imports : 21 10 10 15 Supply, total : 8470 10962 8942 8947 Feed and residual : 4704 5534 4600 4600 Food, seed & industrial : 1588 1693 1685 1685 Domestic, total : 6292 7227 6285 6285 Exports : 1328 2177 2200 2250 Use, total : 7620 9405 8485 8535 Ending stocks, total : 850 1558 457 412 Farmer-owned reserve : 119 78 0 0 CCC inventory : 45 42 42 42 Free stocks : 686 1438 415 370 Outstanding loans : 77 348 50 50 Avg. farm price ($/bu.) 2/ : 2.50 2.26 3.00-3.40 3.05-3.25 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. HDR201380000001 WASDE - U.S. SORGHUM, BARLEY & OATS WASDE-312-9 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 1995/96 Projections Item : 1993/94 : 1994/95 :=============================== : : Est. : February March =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 9.9 9.8 9.5 9.5 Area harv. (mil. acres) : 8.9 8.9 8.3 8.3 Yield (bushels/acre) : 59.9 72.8 55.6 55.6 Beginning stocks : 175 48 72 72 Production : 534 649 460 460 Imports : 0 0 0 0 Supply, total : 709 697 532 532 Feed : 453 395 300 300 Food, seed & industrial : 8 7 7 7 Total domestic : 460 402 307 307 Exports : 202 223 185 185 Use, total : 662 625 492 492 Ending stocks, total : 48 72 40 40 Farmer-owned reserve : 4 2 0 0 CCC inventory : 1 1 1 1 Free stocks : 43 69 39 39 Outstanding loans : 1 5 2 2 Avg. farm price ($/bu.) 2/ : 2.31 2.13 3.05-3.45 3.10-3.30 BARLEY : Area planted (mil. acres) : 7.8 7.2 6.7 6.7 Area harv. (mil. acres) : 6.8 6.7 6.3 6.3 Yield (bushels/acre) : 58.9 56.2 57.2 57.2 Beginning stocks : 151 139 113 113 Production : 398 375 359 359 Imports : 71 66 45 40 Supply, total : 621 580 517 512 Feed : 241 226 210 200 Food, seed & industrial : 175 175 175 175 Total domestic : 416 401 385 375 Exports : 66 66 55 65 Use, total : 482 467 440 440 Ending stocks, total : 139 113 77 72 Farmer-owned reserve : 7 5 0 0 CCC inventory : 5 5 5 5 Free stocks : 127 103 72 67 Outstanding loans : 14 9 5 5 Avg. farm price ($/bu.) 2/ : 1.99 2.03 2.85-2.95 2.85-2.95 OATS : Area planted (mil. acres) : 7.9 6.6 6.3 6.3 Area harv. (mil. acres) : 3.8 4.0 3.0 3.0 Yield (bushels/acre) : 54.4 57.1 54.7 54.7 Beginning stocks : 113 106 101 101 Production : 207 229 162 162 Imports : 107 93 95 90 Supply, total : 427 428 357 352 Feed : 193 201 155 155 Food, seed & industrial : 125 125 125 125 Total domestic : 318 326 280 280 Exports : 3 1 2 2 Use, total : 321 327 282 282 Ending stocks, total : 106 101 75 70 Farmer-owned reserve : 0 0 0 0 CCC inventory : 0 0 0 0 Free stocks : 106 101 75 70 Outstanding loans : 1 1 1 1 Avg. farm price ($/bu.) 2/ : 1.36 1.22 1.55-1.65 1.55-1.65 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for sorghum, June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. HDR201380000001 WASDE - U.S. SOYBEANS & PRODUCTS WASDE-312-10 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ ========================================================================== : : : 1995/96 Projections Item : 1993/94 : 1994/95 :================================ : : Est. : February March ========================================================================== SOYBEANS : Million acres Area : Planted : 60.1 61.7 62.6 62.6 Harvested : 57.3 60.9 61.6 61.6 : : Bushels/acre Yield per harv. : unit : 32.6 41.4 34.9 34.9 : : Million bushels : Beginning stocks : 292 209 335 335 Production : 1,871 2,517 2,152 2,152 Imports : 6 5 5 5 Supply, total : 2,170 2,731 2,492 2,492 Crushings : 1,276 1,405 1,380 1,370 Exports : 589 838 810 810 Seed : 67 72 68 68 Residual : 29 81 44 44 Use, total : 1,961 2,396 2,302 2,292 Ending stocks : 209 335 190 200 Avg. price ($/bu) 2/ : 6.40 5.48 6.50 - 6.60 - : 7.50 7.00 : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,555 1,103 1,137 1,137 Production : 13,951 15,613 /3 15,525 15,345 Imports : 68 17 13 23 Supply, total : 15,574 16,733 16,675 16,505 Domestic : 12,941 12,916 13,050 13,150 Exports : 1,529 2,680 1,800 1,650 Use, total : 14,471 15,596 14,850 14,800 Ending stocks : 1,103 1,137 1,825 1,705 Avg. price c/lb 2/ : 27.10 27.58 23.0-26.0 23.0-25.0 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 204 150 223 223 Production : 30,514 33,265 /3 32,867 32,657 Imports : 69 64 60 70 Supply, total : 30,788 33,479 33,150 32,950 Domestic : 25,283 26,539 27,150 27,150 Exports : 5,356 6,717 5,800 5,600 Use, total : 30,638 33,256 32,950 32,750 Ending stocks : 150 223 200 200 Avg price $/st ton 2/: 192.86 162.55 210-235 210-235 ========================================================================== Note: Reliability calculations at end of report. 1/ Marketing year beginning September 1 for soybeans; October 1 for soybean oil and meal. 2/ Prices: Soybeans, marketing year weighted average price received by farmers; for Oil, simple average of crude soybean oil, Decatur; for Meal, simple average of 48 percent, Decatur. 3/ Based on October year crush of 1,407 million bushels. HDR201380000001 WASDE - U.S. SUGAR WASDE-312-11 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 1995/96 Projections Item : 1993/94 : 1994/95 :====================== : : Estimate : February March ====================================================================== : 1,000 short tons, raw value Beginning stocks 2/ : 1,704 1,337 1,233 1,233 Production 2/3/ : 7,655 7,927 7,520 7,500 Beet sugar : 4,090 4,493 4,050 4,000 Cane sugar : 3,565 3,434 3,470 3,500 Imports 2/ : 1,772 1,853 2,690 2,690 Under quota 4/ : 1,113 1,564 1,945 1,945 Other 5/ : 659 289 745 745 Total supply : 11,131 11,117 11,443 11,423 : Exports 2/6/ : 454 502 500 500 Domestic deliveries 2/ : 9,333 9,337 9,420 9,520 Domestic food use : 9,175 9,237 9,326 9,426 Other 7/ : 158 100 94 94 Miscellaneous 8/ : 7 45 0 0 Use, total : 9,794 9,884 9,920 10,020 Ending stocks 2/ : 1,337 1,233 1,523 1,403 : Stocks to use ratio : 13.7 12.5 15.4 14.0 ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. 2/ Historical data are from FSA, "Sweetener Market Data." 3/ Production in 1995/96 is Interagency Sugar Estimates Committee forecast. 4/ Actual arrivals under the tariff rate quota (TRQ) with late entries, early entries, and TRQ overfills assigned to the fiscal year in which they actually arrived. 5/ Quota exempt imports (for reexport, for polyhydric alcohol, from Canada in 1993/94 and 1994/95, and high-duty). 6/ Mostly reexports. 7/ Transfer to sugar containing products for reexport, for nonedible alcohol, and feed. 8/ Residual. HDR201380000001 WASDE - WORLD WHEAT WASDE-312-12 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1993/94 : World 3/ : 144.78 559.34 113.16 110.16 563.24 118.18 140.88 United States : 14.44 65.22 2.96 7.39 33.74 33.41 15.47 Total foreign : 130.34 494.12 110.20 102.77 529.51 84.77 125.41 Major exporters 4/ : 41.39 136.34 17.56 38.08 89.94 73.86 31.50 Argentina : 0.05 9.70 0.00 0.25 4.30 5.00 0.45 Australia : 5.02 16.48 0.02 1.76 4.10 13.70 3.71 Canada : 12.19 27.23 0.13 5.73 9.34 19.10 11.12 EU-15 : 24.13 82.93 17.41 30.34 72.19 36.06 16.22 Major importers 5/ : 32.01 148.76 33.59 14.40 180.52 0.93 32.91 China : 22.85 106.39 4.31 2.70 110.65 0.18 22.73 East. Europe : 3.50 30.62 2.44 10.86 31.06 0.33 5.18 N. Africa : 3.37 9.00 15.05 0.60 24.35 0.00 3.07 Selected other : Baltics 6/ : 0.43 1.34 0.49 0.96 1.69 0.00 0.57 FSU-12 6/7/ : 30.14 81.95 13.03 41.09 88.41 6.50 30.21 Russia : 17.67 43.50 5.00 26.05 48.95 0.50 16.73 Kazakhstan : 4.79 11.59 0.01 2.81 7.01 5.50 3.88 : : 1994/95 (Estimated) : World 3/ : 140.88 523.52 110.02 98.97 550.07 112.29 114.33 United States : 15.47 63.17 2.50 9.39 35.01 32.34 13.79 Total foreign : 125.41 460.35 107.52 89.59 515.06 79.95 100.55 Major exporters 4/ : 31.50 127.99 17.50 37.15 88.39 67.72 20.88 Argentina : 0.45 11.30 0.02 0.15 4.32 7.30 0.15 Australia : 3.71 8.90 0.00 1.63 3.91 6.34 2.37 Canada : 11.12 23.12 0.13 3.17 6.92 21.50 5.94 EU-15 : 16.22 84.67 17.36 32.19 73.25 32.57 12.42 Major importers 5/ : 32.91 147.03 38.20 15.56 182.08 2.72 33.34 China : 22.73 99.30 10.24 3.00 110.53 0.03 21.72 East. Europe : 5.18 33.95 1.24 11.92 32.57 2.24 5.55 N. Africa : 3.07 11.03 14.12 0.40 24.18 0.00 4.05 Selected other : Baltics 6/ : 0.57 0.81 0.34 0.57 1.25 0.00 0.46 FSU-12 6/7/ : 30.21 59.43 8.54 29.75 75.43 5.26 17.49 Russia : 16.73 32.10 2.75 20.43 42.63 0.75 8.20 Kazakhstan : 3.88 9.10 0.00 2.05 5.97 4.50 2.50 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada and the EU-15 (includes intra-trade). 5/ Algeria, Brazil, China, Eastern Europe, Egypt, Japan, Libya, Morocco and Tunisia. 6/ Includes imports and exports among the nations of the former USSR. 7/ Former USSR excluding the Baltic States. WASDE-312-13 World Wheat Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1995/96 (Projected) World 3/ : February : 113.65 534.60 112.70 92.39 551.55 113.31 96.70 March : 114.33 534.50 111.57 93.28 550.30 111.73 98.54 United States : February : 13.79 59.48 1.91 4.76 31.05 34.70 9.42 March : 13.79 59.48 1.91 4.76 31.05 34.70 9.42 Total foreign : February : 99.86 475.12 110.80 87.63 520.49 78.61 87.28 March : 100.55 475.02 109.67 88.52 519.24 77.03 89.12 Major exporters 4/ : February : 20.87 137.15 18.67 40.22 91.60 66.95 18.14 March : 20.88 137.09 18.70 40.66 91.85 65.95 18.86 Argentina Feb : 0.15 8.60 0.00 0.10 4.30 4.30 0.15 Mar : 0.15 8.60 0.03 0.10 4.33 4.30 0.15 Australia Feb : 2.37 17.00 0.02 2.00 4.35 13.00 2.04 Mar : 2.37 16.62 0.02 1.60 3.97 13.00 2.04 Canada Feb : 5.94 25.43 0.13 3.50 7.23 18.40 5.87 Mar : 5.94 25.43 0.13 4.00 7.73 17.90 5.87 EU-15 Feb : 12.42 86.12 18.52 34.62 75.72 31.25 10.09 Mar : 12.42 86.44 18.52 34.97 75.82 30.75 10.81 Major importers 5/ : February : 33.34 145.76 41.35 14.89 184.69 5.06 30.71 March : 33.34 145.43 40.31 14.89 183.65 4.58 30.85 China Feb : 21.72 100.00 13.00 3.20 113.00 0.00 21.72 Mar : 21.72 100.00 13.00 3.20 113.00 0.02 21.70 East. Europe Feb : 5.55 35.52 0.95 11.30 31.97 4.66 5.40 Mar : 5.55 35.32 0.91 11.30 31.83 4.16 5.80 N. Africa Feb : 4.05 8.15 14.50 0.16 24.76 0.00 1.94 Mar : 4.05 8.15 14.10 0.16 24.36 0.00 1.94 Selected other : Baltics 6/ Feb : 0.46 0.86 0.15 0.55 1.25 0.00 0.22 Mar : 0.46 0.86 0.15 0.55 1.25 0.00 0.22 FSU-12 6/7/ Feb : 17.49 58.88 9.08 27.71 73.36 3.60 8.49 Mar : 17.49 58.88 9.08 27.71 73.36 3.60 8.49 Russia Feb : 8.20 30.10 4.30 17.92 40.12 0.10 2.38 Mar : 8.20 30.10 4.30 17.92 40.12 0.10 2.38 Kazakhstan Feb : 2.50 6.50 0.00 1.65 5.60 2.50 0.90 Mar : 2.50 6.50 0.00 1.65 5.60 2.50 0.90 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World mports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada and the EU-15 (includes intra-trade). 5/ Algeria, Brazil, China, Eastern Europe, Egypt, Japan, Libya, Morocco and Tunisia. 6/ Includes imports and exports among the nations of the former USSR. 7/ Former USSR excluding the Baltic States. HDR201380000001 WASDE - WORLD COARSE GRAINS WASDE-312-14 World Coarse Grain Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1993/94 : World 3/ : 163.09 789.73 95.73 547.78 830.65 98.98 122.17 United States : 63.09 186.45 4.04 139.49 185.86 40.34 27.38 Total foreign : 100.00 603.28 91.69 408.28 644.78 58.63 94.79 Major exporters 4/ : 10.25 64.24 0.89 34.92 45.44 19.95 9.99 Argentina : 1.46 13.29 0.00 6.61 8.52 4.83 1.40 Australia : 1.37 9.84 0.27 4.31 5.44 5.16 0.89 Canada : 5.29 24.04 0.55 16.77 19.43 5.39 5.07 Major importers 5/ : 32.53 162.51 55.75 141.45 198.05 22.63 30.10 EU-15 : 20.73 92.43 15.02 64.85 87.71 22.17 18.30 East. Europe : 3.88 44.47 2.40 35.11 46.11 0.36 4.27 Japan : 2.88 0.28 21.21 17.83 21.91 0.00 2.45 Selected other : China : 28.33 116.74 1.24 71.66 108.09 12.04 26.18 Baltics 6/ : 0.37 3.25 0.50 2.45 3.53 0.02 0.57 FSU-12 6/7/ : 10.11 92.08 5.60 71.43 94.27 1.47 12.05 Russia : 6.03 50.89 3.70 39.36 54.16 0.48 5.99 Ukraine : 1.27 20.29 0.33 14.92 18.83 0.33 2.73 : : 1994/95 (Estimated) : World 3/ : 122.17 860.51 105.23 571.30 849.62 102.62 133.06 United States : 27.38 284.89 3.39 158.88 207.90 62.43 45.34 Total foreign : 94.79 575.62 101.84 412.43 641.72 40.19 87.72 Major exporters 4/ : 9.99 50.78 2.00 34.50 44.26 12.70 5.82 Argentina : 1.40 13.37 0.01 5.65 7.47 6.53 0.79 Australia : 0.89 5.02 0.19 3.16 4.33 1.23 0.54 Canada : 5.07 23.39 0.93 18.49 21.31 4.71 3.38 Major importers 5/ : 30.10 157.30 60.90 147.04 203.49 21.26 23.55 EU-15 : 18.30 86.48 16.29 64.86 88.32 20.38 12.38 East. Europe : 4.27 46.23 1.14 37.20 47.50 0.81 3.34 Japan : 2.45 0.23 21.11 17.21 21.31 0.00 2.48 Selected other : China : 26.18 112.88 6.34 79.14 115.79 1.64 27.96 Baltics 6/ : 0.57 2.60 0.39 2.13 3.00 0.03 0.54 FSU-12 6/7/ : 12.05 79.61 1.68 57.43 79.80 1.88 11.66 Russia : 5.99 45.25 0.26 29.49 43.99 1.18 6.32 Ukraine : 2.73 18.53 0.08 15.06 18.59 0.19 2.55 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, South Africa and Thailand. 5/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, the Republic of Korea and Taiwan. 6/ Includes imports and exports among the nations of the former USSR. 7/ Former USSR excluding the Baltic States. WASDE-312-15 World Coarse Grain Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1995/96 (Projected) World 3/ : February : 133.57 776.91 98.57 548.12 826.04 104.66 84.45 March : 133.06 777.22 99.49 548.23 826.26 105.59 84.01 United States : February : 45.34 209.42 2.99 131.69 180.51 61.81 15.42 March : 45.34 209.42 2.92 131.46 180.28 63.30 14.10 Total foreign : February : 88.24 567.50 95.58 416.43 645.53 42.85 69.03 March : 87.72 567.80 96.57 416.77 645.98 42.29 69.92 Major exporters 4/ : February : 5.67 60.60 0.95 36.54 46.14 15.26 5.81 March : 5.82 60.98 0.95 35.82 45.81 16.01 5.92 Argentina Feb : 0.79 13.63 0.00 5.59 7.43 6.23 0.76 Mar : 0.79 13.13 0.00 5.59 7.43 5.73 0.76 Australia Feb : 0.39 9.30 0.03 4.51 5.60 3.46 0.65 Mar : 0.54 9.12 0.03 3.83 5.02 4.11 0.56 Canada Feb : 3.38 24.09 0.50 18.03 20.71 3.98 3.28 Mar : 3.38 24.09 0.50 17.93 20.61 4.08 3.28 Major importers 5/ : February : 24.34 163.10 60.54 149.04 204.85 23.00 20.13 March : 23.55 162.77 61.08 149.29 205.12 22.34 19.94 EU-15 Feb : 13.24 88.55 17.23 65.27 88.00 20.34 10.68 Mar : 12.38 88.50 17.52 65.65 88.47 19.69 10.24 East. Europe Feb : 3.37 51.06 0.31 37.91 48.52 2.61 3.61 Mar : 3.34 50.87 0.31 37.79 48.36 2.61 3.55 Japan Feb : 2.38 0.21 20.44 16.94 21.09 0.00 1.93 Mar : 2.48 0.22 20.69 17.01 21.13 0.00 2.26 Selected other : China Feb : 27.96 121.64 4.60 92.22 124.74 1.10 28.36 Mar : 27.96 121.64 4.60 92.22 124.74 1.10 28.36 Baltics 6/ Feb : 0.54 2.08 0.36 1.82 2.62 0.00 0.35 Mar : 0.54 2.08 0.36 1.82 2.62 0.00 0.35 FSU-12 6/7/ Feb : 11.66 57.74 1.78 44.16 64.42 1.43 5.34 Mar : 11.66 57.74 1.78 44.16 64.42 1.43 5.34 Russia Feb : 6.32 30.70 0.78 22.94 35.93 0.25 1.62 Mar : 6.32 30.70 0.78 22.94 35.93 0.25 1.62 Ukraine Feb : 2.55 15.55 0.00 11.91 15.64 0.70 1.76 Mar : 2.55 15.55 0.00 11.91 15.64 0.70 1.76 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, South Africa and Thailand. 5/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, the Republic of Korea and Taiwan. 6/ Includes imports and exports among the nations of the former USSR. 7/ Former USSR excluding the Baltic States. HDR201380000001 WASDE - WORLD CORN WASDE-312-16 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1993/94 : World 3/ : 107.43 471.52 63.83 340.69 506.94 66.51 72.02 United States : 53.67 160.95 0.53 119.48 159.82 33.74 21.60 Total foreign : 53.76 310.57 63.30 221.21 347.12 32.77 50.42 Major exporters 4/ : 2.99 26.18 0.03 10.80 16.90 8.77 3.52 Argentina : 0.87 10.00 0.00 4.25 5.77 4.20 0.90 South Africa : 1.69 13.28 0.02 3.60 8.13 4.45 2.40 Thailand : 0.43 2.90 0.01 2.95 3.00 0.12 0.22 Major importers 5/ : 12.00 70.38 40.13 68.37 101.92 10.28 10.32 EU-15 : 4.94 30.49 10.69 23.87 32.30 9.99 3.82 Japan : 1.44 0.00 16.17 12.70 16.45 0.00 1.16 Selected other : China : 27.00 102.70 0.00 65.50 92.90 11.80 25.00 Baltics 6/ : 0.08 0.00 0.20 0.20 0.20 0.00 0.07 FSU-12 6/7/ : 2.06 9.02 4.00 10.45 12.66 0.15 2.28 Russia : 1.30 2.45 3.30 4.67 5.77 0.08 1.19 : : 1994/95 (Estimated) : World 3/ : 72.02 554.81 75.27 373.93 535.48 72.18 91.35 United States : 21.60 256.62 0.24 140.57 183.58 55.31 39.57 Total foreign : 50.42 298.19 75.02 233.36 351.91 16.87 51.78 Major exporters 4/ : 3.52 19.15 0.80 10.35 15.53 6.34 1.61 Argentina : 0.90 10.90 0.00 3.70 5.20 6.10 0.50 South Africa : 2.40 4.65 0.60 3.00 6.63 0.13 0.90 Thailand : 0.22 3.60 0.20 3.65 3.70 0.11 0.21 Major importers 5/ : 10.32 69.11 45.17 73.63 106.59 7.83 10.18 EU-15 : 3.82 28.30 10.37 23.58 32.46 7.05 2.98 Japan : 1.16 0.00 16.48 12.60 16.35 0.00 1.29 Selected other : China : 25.00 99.28 4.29 72.00 99.57 1.50 27.50 Baltics 6/ : 0.07 0.00 0.11 0.15 0.15 0.00 0.03 FSU-12 6/7/ : 2.28 4.26 0.49 4.06 5.94 0.04 1.04 Russia : 1.19 0.90 0.20 1.30 2.15 0.00 0.14 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina, South Africa and Thailand. 5/ Eastern Europe, the EU-15 includes intra-trade), Non-EU Western Europe, Mexico, Japan, the Republic of Korea and Taiwan. 6/ Includes imports and exports among the nations of the former USSR. 7/ Former USSR excluding the Baltic States. WASDE-312-17 World Corn Supply and Use 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1995/96 (Projected) World 3/ : February : 91.57 498.12 69.82 367.14 533.70 75.66 55.99 March : 91.35 499.05 70.80 367.36 534.69 77.03 55.70 United States : February : 39.57 187.31 0.25 116.85 159.65 55.88 11.60 March : 39.57 187.31 0.38 116.85 159.65 57.15 10.46 Total foreign : February : 52.00 310.81 69.57 250.29 374.05 19.78 44.39 March : 51.78 311.74 70.42 250.52 375.05 19.88 45.24 Major exporters 4/ : February : 1.61 23.70 0.40 11.45 16.70 7.40 1.61 March : 1.61 24.20 0.40 11.45 17.00 7.40 1.81 Argentina Feb : 0.50 11.00 0.00 3.70 5.20 5.80 0.50 Mar : 0.50 10.50 0.00 3.70 5.20 5.30 0.50 South Africa Feb : 0.90 9.00 0.00 3.80 7.50 1.50 0.90 Mar : 0.90 10.00 0.00 3.80 7.80 2.00 1.10 Thailand Feb : 0.21 3.70 0.40 3.95 4.00 0.10 0.21 Mar : 0.21 3.70 0.40 3.95 4.00 0.10 0.21 Major importers 5/ : February : 10.41 69.77 44.28 74.39 107.26 9.36 7.85 March : 10.18 69.75 44.63 74.34 107.24 9.36 7.96 EU-15 Feb : 3.17 28.77 9.60 23.82 32.52 7.06 1.97 Mar : 2.98 28.83 9.70 23.82 32.59 7.06 1.86 Japan Feb : 1.29 0.00 16.00 12.50 16.25 0.00 1.04 Mar : 1.29 0.00 16.25 12.50 16.25 0.00 1.29 Selected other : China Feb : 27.50 108.00 2.50 85.50 109.00 1.00 28.00 Mar : 27.50 108.00 2.50 85.50 109.00 1.00 28.00 Baltics 6/ Feb : 0.03 0.00 0.17 0.15 0.15 0.00 0.05 Mar : 0.03 0.00 0.17 0.15 0.15 0.00 0.05 FSU-12 6/7/ Feb : 1.04 7.20 1.01 5.03 7.16 0.90 1.19 Mar : 1.04 7.20 1.01 5.03 7.16 0.90 1.19 Russia Feb : 0.14 1.70 0.75 1.62 2.45 0.00 0.14 Mar : 0.14 1.70 0.75 1.62 2.45 0.00 0.14 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina, South Africa and Thailand. 5/ Eastern Europe, the EU-15 includes intra-trade), Non-EU Western Europe, Mexico, Japan, the Republic of Korea and Taiwan. 6/ Includes imports and exports among the nations of the former USSR. 7/ Former USSR excluding the Baltic States. HDR201380000001 WASDE - WORLD RICE WASDE-312-18 World Rice Supply and Use (Milled Basis) 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total 2/: : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 1993/94 World 3/ : 54.27 353.83 16.15 356.79 16.56 51.31 United States : 1.25 5.24 0.22 3.32 2.52 0.87 Total foreign : 53.02 348.59 15.93 353.47 14.04 50.45 Major exporters 4/ : 2.69 41.47 0.00 32.93 8.81 2.42 Thailand : 0.98 12.67 0.00 8.50 4.74 0.41 Vietnam : 0.00 16.05 0.00 13.83 2.22 0.00 Major importers 5/ : 2.32 34.47 5.14 39.72 1.19 1.03 Indonesia : 1.59 30.32 0.95 32.11 0.23 0.53 Selected other : China : 29.60 124.39 0.70 128.00 1.52 25.17 Japan : 0.38 7.13 2.62 9.40 0.00 0.73 : : 1994/95 (Estimated) World 3/ : 51.31 361.94 19.01 363.86 21.30 49.39 United States : 0.87 6.55 0.22 3.26 3.34 1.04 Total foreign : 50.45 355.39 18.79 360.60 17.96 48.35 Major exporters 4/ : 2.42 42.75 0.00 33.43 10.03 1.72 Thailand : 0.41 14.10 0.00 8.40 5.93 0.18 Vietnam : 0.00 15.90 0.00 13.95 1.95 0.00 Major importers 5/ : 1.03 35.91 8.16 41.33 1.01 2.76 Indonesia : 0.53 31.50 3.00 33.53 0.00 1.50 Selected other : China : 25.17 123.15 1.70 129.00 0.03 20.99 Japan : 0.73 10.90 0.15 9.35 0.41 2.02 : : 1995/96 (Projected) World 3/ : February : 47.80 367.67 17.90 367.53 18.21 47.93 March : 49.39 369.87 18.16 369.70 18.33 49.57 United States : February : 1.04 5.68 0.24 3.41 2.74 0.80 March : 1.04 5.68 0.24 3.41 2.74 0.80 Total foreign : February : 46.76 361.99 17.66 364.12 15.47 47.13 March : 48.35 364.20 17.92 366.29 15.58 48.77 Major exporters 4/ : February : 1.70 44.60 0.00 34.78 9.60 1.92 March : 1.72 44.80 0.00 34.78 9.60 2.14 Thailand Feb : 0.16 14.20 0.00 8.50 5.50 0.36 Mar : 0.18 14.40 0.00 8.50 5.50 0.58 Vietnam Feb : 0.00 16.60 0.00 14.60 2.00 0.00 Mar : 0.00 16.60 0.00 14.60 2.00 0.00 Major importers 5/ : February : 2.46 34.26 6.00 39.88 0.97 1.87 March : 2.76 36.49 6.00 42.38 0.94 1.93 Indonesia Feb : 1.50 29.90 1.50 31.90 0.00 1.00 Mar : 1.50 32.20 1.50 34.20 0.00 1.00 Selected other : China Feb : 20.97 133.00 0.75 131.00 0.20 23.52 Mar : 20.99 133.00 0.75 131.00 0.20 23.54 Japan Feb : 2.02 9.75 0.43 9.30 0.20 2.70 Mar : 2.02 9.78 0.43 9.30 0.20 2.73 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in some countries. 4/ Burma, Pakistan, Vietnam and Thailand. 5/ Hong Kong, Indonesia, Iran, Iraq, Ivory Coast, Nigeria, Saudi Arabia, the EU-15 (includes intra-trade) and Non-EU Western Europe. HDR201380000001 WASDE - WORLD SOYBEANS WASDE-312-19 World Soybean Supply and Use 1/ (Million Metric Tons) ============================================================================ : Supply : Use : Region : ========================:=====================:====== : Beginning:Produc:Imports: Domestic :Exports:Ending : stocks : tion : :Crush :Total : :stocks ============================================================================ : 1993/94 World 2/ : 20.03 117.40 28.41 101.54 121.04 28.04 16.76 United States : 7.96 50.92 0.18 34.72 37.33 16.03 5.69 Total foreign : 12.08 66.48 28.23 66.82 83.72 12.01 11.07 Major exporters 3/ : 9.64 38.80 0.21 27.81 30.25 9.70 8.71 Argentina : 3.58 12.30 0.00 8.77 9.41 3.07 3.40 Brazil : 6.07 24.70 0.11 18.44 20.14 5.43 5.31 Major importers 4/ : 1.43 0.91 17.97 15.94 18.61 0.41 1.28 EU-15 : 0.65 0.81 13.11 12.24 13.60 0.41 0.56 Japan : 0.77 0.10 4.86 3.70 5.01 0.00 0.72 : : 1994/95 (Estimated) World 2/ : 16.76 137.28 32.56 110.35 132.60 31.84 22.16 United States : 5.69 68.49 0.14 38.24 42.40 22.81 9.11 Total foreign : 11.07 68.79 32.43 72.11 90.20 9.03 13.04 Major exporters 3/ : 8.71 40.60 1.20 29.96 32.41 7.42 10.67 Argentina : 3.40 12.50 0.00 8.64 9.24 2.58 4.08 Brazil : 5.31 25.90 1.20 20.47 22.27 3.54 6.59 Major importers 4/ : 1.28 1.13 20.47 18.29 21.27 0.38 1.23 EU-15 : 0.56 1.03 15.63 14.53 16.23 0.38 0.61 Japan : 0.72 0.10 4.84 3.76 5.04 0.00 0.62 : World 2/ : 1995/96 (Projected) February : 22.00 123.37 31.01 109.37 129.71 30.92 15.76 March : 22.16 123.76 31.10 109.76 130.09 30.81 16.10 United States : February : 9.11 58.56 0.14 37.56 40.61 22.05 5.16 March : 9.11 58.56 0.14 37.29 40.33 22.05 5.43 Total foreign : February : 12.89 64.81 30.88 71.81 89.10 8.87 10.60 March : 13.04 65.19 30.96 72.48 89.76 8.77 10.67 Major exporters 3/ : February : 10.54 37.30 0.20 30.05 32.26 7.30 8.48 March : 10.67 37.30 0.20 30.35 32.57 7.20 8.40 Argentina Feb. : 3.84 12.30 0.00 9.10 9.68 2.70 3.77 Mar. : 4.08 12.30 0.00 9.40 9.99 2.60 3.79 Brazil Feb. : 6.69 23.00 0.20 20.20 21.78 3.40 4.71 Mar. : 6.59 23.00 0.20 20.20 21.78 3.40 4.61 Major importers 4/ : February : 1.21 1.08 19.58 17.59 20.40 0.33 1.14 March : 1.23 1.09 19.63 17.77 20.53 0.33 1.09 EU-15 Feb. : 0.55 0.97 14.83 13.93 15.48 0.33 0.53 Mar. : 0.61 0.97 14.83 14.07 15.55 0.33 0.53 Japan Feb. : 0.66 0.11 4.75 3.66 4.92 0.00 0.61 Mar. : 0.62 0.12 4.80 3.70 4.98 0.00 0.56 ============================================================================ 1/ Data based on local marketing years except for Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported export and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil and Paraguay. 4/ Japan and EU. HDR201380000001 WASDE - WORLD SOYOIL WASDE-312-21 World Soybean Oil Supply and Use 1/ (Million Metric Tons) ======================================================================= : Supply : Use : Region : ========================:================:====== : Beginning:Produc:Imports: Total :Exports:Ending : stocks : tion: :Domestic: :Stocks ======================================================================= : 1993/94 World 2/ : 2.01 18.17 4.74 18.33 4.84 1.74 United States : 0.71 6.33 0.03 5.87 0.69 0.50 Total foreign : 1.30 11.84 4.71 12.46 4.14 1.24 Major exporters 3/ : 0.80 7.22 0.74 4.24 3.70 0.82 Argentina : 0.21 1.52 0.00 0.07 1.45 0.21 Brazil : 0.32 3.47 0.24 2.32 1.35 0.35 EU-15 : 0.28 2.24 0.50 1.85 0.91 0.26 Major importers 4/ : 0.03 1.74 0.85 2.58 0.04 0.01 China : 0.00 1.09 0.64 1.69 0.04 0.00 Pakistan : 0.01 0.00 0.17 0.18 0.00 0.01 : : 1994/95 (Estimated) World 2/ : 1.74 19.84 6.12 19.91 6.08 1.71 United States : 0.50 7.08 0.01 5.86 1.22 0.52 Total foreign : 1.24 12.76 6.12 14.05 4.86 1.20 Major exporters 3/ : 0.82 7.99 0.70 4.49 4.31 0.71 Argentina : 0.21 1.50 0.00 0.08 1.49 0.13 Brazil : 0.35 3.85 0.18 2.47 1.57 0.34 EU-15 : 0.26 2.65 0.52 1.95 1.25 0.23 Major importers 4/ : 0.01 1.72 2.00 3.65 0.06 0.01 China : 0.00 1.22 1.70 2.86 0.06 0.00 Pakistan : 0.01 0.01 0.15 0.15 0.00 0.01 : World 2/ : 1995/96 (Projected) February : 1.71 19.77 5.29 19.41 5.24 2.13 March : 1.71 19.80 5.25 19.49 5.23 2.05 United States : February : 0.52 7.04 0.01 5.92 0.82 0.83 March : 0.52 6.96 0.01 5.97 0.75 0.77 Total foreign : February : 1.19 12.73 5.29 13.49 4.42 1.30 March : 1.20 12.84 5.24 13.52 4.48 1.28 Major exporters 3/ : February : 0.71 7.91 0.64 4.54 3.92 0.80 March : 0.71 7.98 0.64 4.53 3.98 0.82 Argentina Feb. : 0.15 1.57 0.00 0.08 1.41 0.23 Mar. : 0.13 1.63 0.00 0.08 1.44 0.24 Brazil Feb. : 0.34 3.80 0.10 2.56 1.30 0.38 Mar. : 0.34 3.80 0.10 2.56 1.30 0.38 EU-15 Feb. : 0.23 2.54 0.54 1.90 1.20 0.20 Mar. : 0.23 2.56 0.54 1.88 1.24 0.20 Major importers 4/ : February : 0.01 1.76 1.48 3.19 0.05 0.01 March : 0.01 1.80 1.45 3.20 0.05 0.01 China Feb. : 0.00 1.09 1.15 2.19 0.05 0.00 Mar. : 0.00 1.09 1.15 2.19 0.05 0.00 Pakistan Feb. : 0.01 0.01 0.20 0.21 0.00 0.01 Mar. : 0.01 0.01 0.20 0.21 0.00 0.01 ======================================================================= 1/ Data based on local marketing years except for Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil and EU. 4/ India, China and Pakistan. HDR201380000001 WASDE - WORLD SOYMEAL WASDE-312-20 World Soybean Meal Supply and Use 1/ (Million Metric Tons) ======================================================================= : Supply : Use : Region : ========================:================:====== : Beginning:Produc:Imports: Total :Exports:Ending : stocks : tion: :Domestic: :Stocks ======================================================================= : 1993/94 World 2/ : 3.74 80.77 29.89 80.77 29.93 3.69 United States : 0.19 27.68 0.06 22.94 4.86 0.14 Total foreign : 3.55 53.09 29.82 57.84 25.07 3.55 Major exporters 3/ : 1.08 21.57 0.00 4.36 17.07 1.23 Argentina : 0.48 7.08 0.00 0.17 6.76 0.63 Brazil : 0.60 14.49 0.00 4.19 10.31 0.60 Major importers 4/ : 1.18 10.68 19.09 26.10 3.86 0.99 EU-15 : 1.15 9.85 16.44 22.65 3.85 0.93 : : 1994/95 (Estimated) World 2/ : 3.69 87.34 31.06 86.30 31.55 4.23 United States : 0.14 30.18 0.06 24.08 6.09 0.20 Total foreign : 3.55 57.16 31.00 62.22 25.46 4.03 Major exporters 3/ : 1.23 23.07 0.00 5.27 17.30 1.74 Argentina : 0.63 6.98 0.00 0.27 6.86 0.49 Brazil : 0.60 16.09 0.00 5.00 10.45 1.25 Major importers 4/ : 0.99 12.41 18.99 27.38 4.14 0.86 EU-15 : 0.93 11.57 16.62 24.19 4.13 0.79 : World 2/ : 1995/96 (Projected) February : 4.30 86.89 31.52 87.50 31.57 3.65 March : 4.23 87.20 31.52 87.58 31.89 3.48 United States : February : 0.20 29.82 0.05 24.63 5.26 0.18 March : 0.20 29.63 0.06 24.63 5.08 0.18 Total foreign : February : 4.10 57.07 31.47 62.87 26.31 3.46 March : 4.03 57.57 31.46 62.95 26.81 3.30 Major exporters 3/ : February : 1.85 23.23 0.00 5.45 18.47 1.16 March : 1.74 23.47 0.00 5.50 18.77 0.94 Argentina Feb. : 0.60 7.35 0.00 0.20 7.17 0.58 Mar. : 0.49 7.60 0.00 0.25 7.47 0.37 Brazil Feb. : 1.25 15.88 0.00 5.25 11.30 0.58 Mar. : 1.25 15.88 0.00 5.25 11.30 0.58 Major importers 4/ : February : 0.86 11.89 18.90 26.71 4.03 0.91 March : 0.86 12.00 18.86 26.78 4.03 0.91 EU-15 Feb. : 0.79 11.13 16.57 23.62 4.02 0.85 Mar. : 0.79 11.24 16.53 23.69 4.02 0.85 ======================================================================= 1/ Data based on local marketing years except for Argentina and Brazil are adjusted to an October-September year. 2/ World imports and export not balance due to differences in local marketing years and to time lag between reported exports and imports. Therefore, world supply may not e world use. 3/ Argentina and Brazil. 4/ Eastern Europe, FSU-12 and EU. HDR201380000001 WASDE - U.S. QUARTERLY ANIMAL PRODUCT & PRICES WASDE-312-22 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 1994 : Annual : 24278 17658 42523 23846 4992 29346 71869 6178 153.7 : 1995 : I : 5877 4488 10521 6147 1196 7470 17991 1544 38.9 II : 6312 4394 10853 6356 1297 7786 18639 1537 40.5 III : 6602 4240 10981 6183 1289 7586 18567 1523 38.3 IV : 6250 4690 11089 6336 1346 7802 18891 1586 37.9 Annual : Feb Est : 25041 17811 43443 25011 5123 30627 74070 6190 155.8 Mar Est : 25041 17812 43444 25021 5129 30644 74088 6190 155.6 : 1996 : I *: 6325 4425 10908 6550 1225 7900 18808 1570 39.1 II *: 6425 4450 11018 6650 1325 8110 19128 1580 40.8 III *: 6700 4525 11358 6750 1400 8275 19633 1575 38.9 IV *: 6400 4950 11489 6700 1400 8225 19714 1625 38.5 Annual : Feb Proj : 25650 18325 44541 26550 5350 32410 76951 6350 157.3 Mar Proj : 25850 18350 44773 26650 5350 32510 77283 6350 157.3 =============================================================================== * Projection. 1/ Commercial production for red meats; federally inspected for poultry meats. 2/ Beef, pork, veal and lamb & mutton. 3/ Broilers, turkeys and mature chicken. U.S. Quarterly Prices for Animal Products =============================================================================== Year : Choice : Barrows : : : : : and : steers :and gilts : Broilers : Turkeys : Eggs : Milk : quarter : 1/ : 2/ : 3/ : 4/ : 5/ : 6/ : =============================================================================== : Dol./cwt Dol./cwt Cents/lb. Cents/lb. Cents/doz. Dol./cwt 1994 : Annual : 68.84 40.03 55.7 65.7 67.3 12.97 : 1995 : I : 71.51 38.56 51.7 59.8 65.2 12.63 II : 64.70 38.91 53.5 61.1 63.6 12.30 III : 62.65 48.75 60.7 68.7 75.2 12.43 IV : 66.10 43.19 59.6 75.8 87.4 13.73 Annual : Feb Est : 66.24 42.35 56.4 66.4 72.9 12.77 Mar Est : 66.24 42.35 56.4 66.4 72.9 12.77 : 1996 : I *: 63-64 44-45 55-56 64-65 88-89 13.75-13.95 II *: 62-66 39-41 54-56 62-66 68-72 12.65-13.15 III *: 60-64 38-42 53-57 62-68 62-68 12.50-13.30 IV *: 62-68 35-37 49-53 65-71 64-70 13.35-14.35 Annual : Feb Proj : 62-67 38-40 53-55 63-67 67-71 13.00-13.70 Mar Proj : 62-65 39-41 53-55 63-67 71-75 13.10-13.70 =============================================================================== *Projection. 1/ Nebraska, Direct, 1100-1300 lbs. 2/ Iowa/So. Minn., No. 1-3. 3/ Wholesale, 12-city average. 4/ 8-16 lbs, hens, Eastern Region. 5/ Grade A large, New York, volume buyers. 6/ Price received by farmers for all milk. HDR201380000001 WASDE - U.S. MEATS WASDE-312-23 U.S. Meats Supply and Use ============================================================================ : Supply : Use :--------------------------------------------------------- : : : : : : : Consumption : : Pro- : : : : :--------------- : Beg- : duc- : : : : End- : : Per Item :inning: tion : Im- :Total : Ex- : ing : :capita :stocks: 1/ :ports :supply: ports:stocks:Total : 2/ ============================================================================ : Million pounds 3/ BEEF : 1994 : 529 24386 2369 27284 1611 548 25125 67.0 1995 Est. Feb : 548 25149 2050 27747 1835 519 25393 67.1 Mar : 548 25149 2103 27800 1821 519 25460 67.3 1996 Proj. Feb : 519 25758 2080 28357 2120 475 25762 67.4 Mar : 519 25958 2080 28557 2120 475 25962 67.9 : PORK : 1994 : 359 17696 743 18798 531 438 17829 53.1 1995 Est. Feb : 438 17849 654 18941 784 396 17761 52.4 Mar : 438 17850 664 18952 771 396 17785 52.5 1996 Proj. Feb : 396 18363 650 19409 900 400 18109 52.9 Mar : 396 18388 665 19449 850 400 18199 53.2 : TOTAL RED MEAT 4/ : 1994 : 900 42683 3161 46744 2151 1004 43589 122.2 1995 Est. Feb : 1003 43603 2763 47369 2626 929 43814 121.6 Mar : 1004 43604 2831 47439 2598 930 43912 121.9 1996 Proj. Feb : 929 44701 2783 48413 3028 892 44493 122.4 Mar : 930 44933 2798 48661 2978 892 44791 123.2 : BROILERS : 1994 : 358 23666 0 24024 2876 458 20690 69.9 1995 Est. Feb : 458 24818 0 25276 3752 561 20963 70.2 Mar : 458 24828 0 25286 3894 560 20832 69.8 1996 Proj. Feb : 561 26340 0 26900 4015 550 22335 74.1 Mar : 560 26439 0 26999 4070 650 22279 73.9 : TURKEYS : 1994 : 249 4937 0 5187 280 254 4652 17.8 1995 Est. Feb : 254 5066 0 5320 349 271 4700 17.9 Mar : 254 5072 0 5326 348 271 4707 17.9 1996 Proj. Feb : 271 5290 0 5561 367 275 4919 18.5 Mar : 271 5290 0 5561 367 300 4894 18.4 : TOTAL POULTRY 5/ : 1994 : 615 29113 0 29727 3246 727 25754 89.4 1995 Est. Feb : 727 30379 0 31106 4197 839 26070 89.6 Mar : 727 30396 0 31122 4342 839 25942 89.2 1996 Proj. Feb : 839 32140 0 32979 4476 835 27668 94.2 Mar : 839 32239 0 33078 4538 960 27580 93.9 : RED MEAT & POULTRY: 1994 : 1515 71796 3161 76471 5397 1731 69343 211.5 1995 Est. Feb : 1730 73982 2763 78475 6823 1768 69884 211.3 Mar : 1731 74000 2831 78562 6939 1769 69854 211.1 1996 Proj. Feb : 1768 76841 2783 81392 7504 1727 72161 216.5 Mar : 1769 77172 2798 81739 7516 1852 72371 217.0 ============================================================================ 1/ Total including farm production for red meats and, for poultry, federally inspected plus non-federally inspected, less condemnations. 2/ Pounds, retail-weight basis. 3/ Carcass weight for red meats and certified ready-to-cook weight for poultry. 4/ Beef, pork, veal, lamb and mutton. 5/ Broilers, turkeys and mature chicken. HDR201380000001 WASDE - U.S. EGGS & MILK WASDE-312-24 U.S. Egg Supply and Use =============================================================================== : : : 1995 Estimated : 1996 Projected : : :-----------------:----------------- Commodity : 1993 : 1994 : Feb : Mar : Feb : Mar =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 13.5 10.7 14.9 14.9 11.2 11.2 Production : 6005.8 6177.6 6189.7 6189.7 6350.0 6350.0 Imports : 4.7 3.7 4.3 4.1 4.0 4.0 Total supply : 6023.9 6192.0 6208.9 6208.7 6365.2 6365.2 : Use : Exports : 158.9 187.6 191.5 208.9 193.0 203.0 Hatching use : 769.6 803.0 843.5 843.5 870.0 870.0 Ending stocks : 10.7 14.9 11.2 11.2 12.0 12.0 Consumption : Total : 5084.6 5186.5 5162.7 5145.0 5290.2 5280.2 Per capita (number) : 236.4 238.8 235.5 234.7 239.1 238.6 =============================================================================== U.S. Milk Supply, Use and Prices =============================================================================== : : : 1994/95 1/ : 1995/96 Proj 1/ Commodity :1992/93:1993/94:-----------------:----------------- : 1/ : 1/ : Feb : Mar : Feb : Mar =============================================================================== MILK : Billion pounds Supply : Beg. commercial stocks 2/ : 5.0 5.0 4.6 4.6 4.5 4.6 Production : 151.0 152.2 155.8 155.7 156.9 156.7 Farm use : 1.8 1.8 1.7 1.7 1.7 1.7 Marketings : 149.2 150.5 154.1 154.0 155.2 155.0 Imports 2/ : 2.7 3.0 2.8 2.8 3.0 3.1 Total cml. supply 2/ : 156.8 158.5 161.5 161.5 162.8 162.6 Use : Commercial use 2/ 3/ : 144.2 149.7 154.2 154.0 156.8 156.7 Ending commercial stks. 2/: 5.0 4.6 4.5 4.6 5.3 5.3 CCC net removals: : Milkfat basis 4/ : 7.6 4.1 2.9 2.9 0.6 0.6 Skim-solids basis 4/ : 3.8 3.6 4.9 4.9 3.1 2.9 : : Dollars per cwt Prices rec'd. by farmers 5/: Manufacturing grade : 11.60 11.98 11.50 11.50 11.95- 12.05- : 12.45 12.45 All milk : 12.73 13.08 12.58 12.58 13.05- 13.15- : 13.55 13.55 : : Million pounds CCC product net removals 4/: Butter : 332 178 110 110 14 14 Cheese : 10 2 8 8 8 8 Nonfat dry milk : 293 286 384 384 245 225 Dry whole milk : 33 26 44 44 26 26 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning October 1. 2/ Milk equivalent, milkfat basis. 3/ Includes commercial exports. 4/ Includes products exported under the Dairy Export Incentive Program. 5/ Milk of average fat test. Does not reflect any deductions from producers as authorized by legislation. HDR101380000014 WASDE RELIABILITY TABLES WASDE-312-29 Note: Tables on pages 29-31 present a 14-year record of the differences between the March projection and the final estimate. Using world wheat production as an example, changes between the March proj. and the final estimate have averaged 3.2 million tons (0.6%) ranging from -8.0 to 6.9 million tons. The March projection has been below the estimate 8 times and above 6 times. Reliability of March Projections ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-94/95 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- WHEAT :Percent Million metric tons Number of years 2/ Production : World : 0.6 3.2 -8.0 6.9 8 6 U.S. : 0.0 0.0 -0.1 0.1 7 2 Foreign : 0.7 3.2 -8.0 6.9 8 6 Exports : World : 1.6 1.7 -5.4 2.3 11 3 U.S. : 2.5 0.9 -1.1 2.4 7 7 Foreign : 2.5 1.9 -4.9 2.1 9 5 Domestic use : World : 0.9 4.8 -9.4 8.1 6 8 U.S. : 4.4 1.3 -2.4 2.4 6 8 Foreign : 0.9 4.2 -7.9 7.6 7 7 Ending stocks : World : 2.8 3.6 -7.7 5.4 8 6 U.S. : 6.6 1.3 -4.4 2.5 7 7 Foreign : 2.8 2.7 -7.3 4.9 7 6 : COARSE GRAINS 3/ : Production : World : 0.7 5.4 -10.9 4.1 10 4 U.S. : 0.1 0.1 -0.2 1.3 8 2 Foreign : 1.0 5.5 -10.9 4.2 10 4 Exports : World : 3.3 3.3 -7.5 9.9 6 8 U.S. : 7.1 3.6 -5.5 9.1 8 6 Foreign : 4.4 2.2 -5.0 6.7 5 9 Domestic use : World : 0.8 6.4 -12.8 9.7 7 7 U.S. : 3.1 5.3 -17.3 11.5 5 9 Foreign : 0.8 5.1 -10.6 7.5 9 5 Ending stocks : World : 6.1 8.4 -19.2 13.9 12 2 U.S. : 8.5 5.8 -13.8 15.3 8 6 Foreign : 7.7 4.5 -8.9 10.5 12 2 : RICE, milled : Production : World : 1.2 3.8 -10.0 2.3 11 3 U.S. : 1.0 0.0 -0.2 0.1 5 1 Foreign : 1.2 3.8 -9.9 2.3 11 3 Exports : World : 7.0 1.0 -4.1 1.2 12 2 U.S. : 6.0 0.2 -0.4 0.3 6 5 Foreign : 8.2 1.0 -3.7 1.1 12 2 ------------------------------------------------------------------------------- 1/ Footnotes at end of table. CONTINUED WASDE-312-30 Reliability of March Projections (Continued) ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-94/95 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- RICE, milled :Percent Million metric tons Number of years 2/ Domestic use : World : 1.0 3.2 -9.8 2.9 9 5 U.S. : 5.8 0.1 -0.3 0.4 6 7 Foreign : 1.0 3.2 -10.0 3.1 9 5 Ending stocks : World : 6.6 2.3 -6.4 4.0 10 4 U.S. : 16.2 0.2 -0.3 0.4 7 7 Foreign : 7.1 2.3 -6.2 3.9 10 4 : SOYBEANS : Production : World : 1.5 1.5 -3.0 1.5 7 7 U.S. : 1.2 0.6 -1.6 1.8 6 6 Foreign : 2.2 1.0 -2.2 1.6 9 5 Exports : World : 2.8 0.8 -2.1 1.4 7 7 U.S. : 5.5 1.1 -2.2 3.0 9 5 Foreign : 14.1 1.0 -2.3 2.4 5 9 Domestic use : World : 1.7 1.8 -4.4 2.4 7 7 U.S. : 2.2 0.8 -2.0 1.0 9 5 Foreign : 2.0 1.3 -2.6 2.2 7 7 Ending stocks : World : 11.2 2.1 -3.7 5.7 8 6 U.S. : 22.2 1.8 -2.7 5.4 5 9 Foreign : 10.5 1.2 -2.7 1.0 8 6 : COTTON : Production : Million 480-pound bales World : 1.1 0.9 -2.9 3.0 6 7 U.S. : 0.6 0.1 -0.1 0.3 3 10 Foreign : 1.3 0.9 -3.2 2.9 6 7 Exports : World : 4.0 0.9 -2.7 1.4 8 6 U.S. : 5.6 0.3 -0.7 0.9 2 12 Foreign : 5.3 0.9 -3.6 1.3 9 5 Mill use : World : 1.8 1.4 -6.0 1.0 7 7 U.S. : 3.5 0.3 -0.7 0.2 10 3 Foreign : 1.8 1.3 -5.5 1.3 7 7 Ending stocks : World : 8.1 2.6 -3.9 8.4 6 8 U.S. : 9.9 0.4 -0.6 1.6 6 8 Foreign : 8.6 2.4 -3.9 7.9 6 8 ------------------------------------------------------------------------------- 1/ Final estimate for 1981/82-94/95 is defined as the first November estimate following the marketing year. 2/ May not total 14 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet and mixed grain. WASDE-312-31 Reliability of United States March Projections 1/ ------------------------------------------------------------------------------- Commodity :Differences between proj. & final estimate, 1981/82-94/95 2/ :------------------------------------------------------------- : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- :Percent Million bushels Number of years 3/ CORN : Production : 0.1 3 -8 38 1 1 Exports : 7.1 119 -254 284 8 6 Domestic use : 3.2 179 -474 345 5 9 Ending stocks : 10.7 232 -535 713 9 5 : SORGHUM : Production : 0.1 0 0 4 0 2 Exports : 14.8 36 -90 72 8 5 Domestic use : 10.3 50 -178 100 7 7 Ending stocks : 28.6 47 -69 148 7 7 : BARLEY : Production : 0.4 2 -3 11 7 1 Exports : 10.4 9 -20 13 5 8 Domestic use : 5.5 23 -30 70 9 4 Ending stocks : 9.6 19 -53 24 7 7 : OATS : Production : 0.1 0 -2 1 3 1 Exports : 30.4 1 -1 3 3 4 Domestic use : 3.3 15 -26 36 6 8 Ending stocks : 11.1 17 -47 21 10 4 : : Thousand Short Tons SOYBEAN MEAL : Production : 2.3 629 -1555 717 11 3 Exports : 7.0 437 -950 941 10 4 Domestic use : 2.1 434 -1100 375 12 2 Ending stocks : 40.4 96 -214 208 4 9 : : Million Pounds SOYBEAN OIL : Production : 2.2 284 -734 365 11 3 Exports : 13.8 213 -700 332 5 9 Domestic use : 1.5 169 -685 200 10 4 Ending stocks : 17.2 239 -692 328 9 5 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 2.7 639 -666 1613 8 4 Pork : 3.0 467 -720 1667 8 4 Broilers : 1.6 273 -281 496 9 3 Turkeys : 2.2 85 -177 161 8 4 : : Million dozen Eggs : 1.5 89 -120 169 9 3 : : Billion pounds Milk : 1.0 1.4 -3.2 3.1 7 5 ------------------------------------------------------------------------------- 1/ See pages 29 and 30 for record of reliability for U.S. wheat, rice, soybeans and cotton. 2/ Final estimate for 1981/82-94/95 is defined as the first November estimate following the marketing year. 3/ May not total 14 for crops and 12 for animal production if projection was the same as final estimate. 4/ Calendar years 1983 through 1994 for meats and eggs; October-September years 1982/83 thru 1993/94 for milk. Final for animal products is defined as latest annual production estimate published by NASS. TRLR