WASDE-349 - April 9, 1999 WHEAT: U.S. 1998/99 supply and use forecasts are unchanged from last month for total wheat, but there are some changes by class of wheat. The projected price range is unchanged at $2.65 to $2.75 per bushel. Forecast global 1998/99 production and trade are little changed from last month, but ending stocks are up sharply. Projected exports are up 1 million tons for Australia, but this is more than offset by reductions for Canada, Kazakstan, and Eastern Europe. Higher ending stocks are projected for a number of countries, with the largest increases in India, Pakistan, Iran, and Syria. For India, the larger stocks are due to strong government procurement and slower-than-expected offtake through the Public Distribution System. Higher stocks are forecast for Iran because of an upward revision in production, while Pakistan's increased prospective stocks are because of large late-season imports. COARSE GRAINS: Projected U.S. 1998/99 ending stocks of corn are up 88 million bushels from last month because of lower domestic use and a 3-million-bushel increase in imports. Projected feed and residual use is down 75 million bushels from last month because the March 1 stocks indicated lower-than- expected use for the December-February quarter. Projected industrial use is down 10 million bushels because of lower use for ethanol production. The projected price range is unchanged at $1.90 to $2.10 per bushel. Global 1998/99 coarse grain production and trade are little changed from last month, and the United States accounts for most of the reduction in projected use and higher ending stocks. The projected South African corn crop is down 1 million tons from last month, but the reduction is expected to have little, if any, impact on their imports and exports during the remainder of the U.S. 1998/99 September-August marketing year. RICE: Projected U.S. imports for 1998/99 are raised slightly based on an increase in the pace of imports as reported by the Bureau of the Census. Domestic and residual is lowered slightly, based on a downward adjustment in the seeding rate used in the calculation of seed use. Although projected all-rice exports are unchanged from a month ago, rough rice exports are raised 1 million cwt to a near-record 25 million cwt, only 1 million cwt below the 1997/98 record. Exports of milled rice are lowered 1 million cwt to 59 million cwt, nearly equal to 1997/98. Ending stocks for 1998/99 are projected at 32.4 million cwt, up 0.9 million cwt from last month and an increase of nearly 5 million cwt from 1997/98. The projected price range for 1998/99 is raised 10 cents on the low end to $8.50- $8.80 per cwt based on higher-than-expected prices reported by NASS for the first 8 months of the marketing year. World rice production, consumption, exports, and ending stocks for 1998/99 are projected slightly higher than a month ago. The increase in world rice production is due primarily to slightly larger crops in Argentina, Brazil, Greece, and Sri Lanka. Projected exports are raised for Argentina and the European Union. OILSEEDS: U.S. soybean ending stocks are reduced this month. USDA's estimate of March 1 soybean stocks is well below the level implied by year-to-date use and reported production. As a result, residual use for 1998/99 is increased by 50 million bushels to 115 million bushels. Forecast ending stocks are reduced 40 million bushels, to 430 million bushels. Soybean exports are lowered 10 million bushels to 770 million, only partially offsetting the higher residual use. Reductions in prospective imports by the EU-15 and South Korea are the main factors in weaker U.S. export prospects. Financial difficulties have slowed soybean imports by South Korea's oilseed crushers. U.S. soybean oil exports are up by 145 million pounds, nearly offsetting a drop in domestic use of 150 million pounds. Soybean oil export prospects are helped by upward revisions in imports for Bangladesh and some Southeast Asian countries. Apparent domestic use of soybean oil has dropped sharply in the past 2 months following a strong early-season offtake. Season-average soybean prices are unchanged this month but the price range is narrowed to $5.00 to $5.10 per bushel. Soybean oil prices are lowered slightly to 20.5 to 22.5 cents per pound while soybean meal prices are increased $5 per short ton to $130 to $140 per ton. Global oilseed production is reduced 1.0 million metric tons this month, but is still record high at 293.2 million tons. World soybean production is down 0.3 million tons to 157.8 million tons. Argentina's soybean crop is cut 0.5 million tons to 18.7 million tons as dry weather in February, followed by excessive rains in March and early April, has reduced yield prospects. Paraguay's soybean crop is increased 0.3 million tons to 3.4 million this month based on reports of higher area and excellent yields. For other oilseed crops, sunflowerseed and cottonseed production are lowered by 0.2 and 0.3 million tons, respectively, with slight reductions noted for rapeseed and palm kernel crops. Other significant production changes include a 0.4-million-metric-ton increase to 6.2 million tons for fish meal production. Fish meal is expected to offer significant competition for soybean meal, particularly in China, as reflected this month in higher imports by China of fish meal and lowered imports of soybean meal. China's soybean meal import forecast is cut 0.5 million tons to 3.0 million tons this month, well below last year's 4.2 million tons. This reduction is largely offset by increased soybean meal imports for the EU-15 and South Korea and a small reduction in exports by Argentina. SUGAR: U.S. sugar supply for fiscal year 1998/99 is projected at 11.6 million short tons, raw value, down 1 percent from last month, and down slightly from 1997/98. Cancellation of the March tranche of imports decreases the Tariff Rate Quota by 165,000 tons. Imports for re-export are increased 25,000 tons, based on strong demand from the manufacturing sector. Deliveries for re-export as sugar-containing products are increased 25,000 tons. The end-of-season carryout stocks-to- use ratio is projected at 14.5 percent, down from 15.9 percent last month. LIVESTOCK, POULTRY, AND DAIRY: Forecast meat production in 1999 is raised, mainly due to an increase in forecast beef production. Larger beef production results from continued large placement of heavier weight cattle in February; mid-year slaughter is forecast to increase and heavier carcass weights are expected. Slight increases are made to second-half pork production due to a higher-than-expected breeding herd productivity. Broiler price forecasts are lowered this month. The milk production forecast for 1998/99 is increased slightly this month to reflect increased output per cow. Commercial use forecasts and CCC removals for 1998/99 are increased. The milk price forecasts for 1998/99 are lowered to reflect increased production. COTTON: The U.S. estimates for 1998/99 are nearly unchanged this month. Production is raised 114,000 bales to reflect recent ginnings data. With no revisions in the estimates for imports, domestic mill use or exports, ending stocks are raised to 3.5 million bales. This month's 1998/99 world cotton situation includes marginally lower production, consumption, and ending stocks. Lower production is the result of reductions in the estimates for Pakistan, Australia and India, partially offset by the U.S. increase. Consumption is reduced mainly in Pakistan, Germany, Russia and Italy, but is raised in Korea. World stocks are less than 1 percent below last month's estimates. Approved by the Secretary of Agriculture and the World Agricultural Outlook Board, Gerald A. Bange, Chairperson, (202) 720-6030. This report was prepared by the Interagency Commodity Estimates Committees. Committee members are listed on page 30. APPROVED: KEITH J. COLLINS ACTING SECRETARY OF AGRICULTURE * * * * * * * * * * * The next issue of this report will be released 8:30 a.m. ET on May 12, 1999. You can now download this report in both ascii text format and pdf (Adobe Acrobat) format at www.usda.gov/oce/waob/wasde/wasde.htm. Acrobat files can be viewed or printed in their original form, page by page. NOTE: WASDE REPORT AVAILABLE IN PDF FORMAT You can now download this report in both ascii text format and pdf (Adobe Acrobat) format at www.usda.gov/oce/waob/wasde/wasde.htm Acrobat files can be viewed or print in their original form, page by page. GET TIMELY DISPATCHES FROM AGRICULTURE'S NEW FRONTIER New forecasts for U.S. agriculture and presentations from USDA's Agricultural Outlook Forum 98, held February 23-24, 1998, are waiting for you. More than 60 speakers discussed farm prospects and front-burner issues ranging from biotechnology, to organic food standards, to transportation problems. DOWNLOAD SPEECHES: www.usda.gov/oce AGRICULTURAL BASELINE PROJECTIONS TO 2007, WAOB-WOAB-98-1. 124 pages, $21.00. Available now. PROCEEDINGS OF AGRICULTURAL OUTLOOK FORUM 98. WAOB-YCON-98, $25.00. Speeches and illustrations presented by speakers at the February 1998 conference. Off press April. BUY BOTH REPORTS AND SAVE. Ask for WAOB-WAOB-PKG-98, $40.00. WASDE-349-4 World and U.S. Supply and Use for Grains 1/ Million Metric Tons =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : World Total grains 3/ : 1996/97 : 1,870.34 2,124.87 252.49 1,833.55 291.32 1997/98 (Est.) : 1,877.12 2,168.44 250.08 1,841.87 326.57 1998/99 (Proj.) : March : 1,843.20 2,168.24 238.49 1,856.78 311.46 April : 1,843.64 2,170.21 238.01 1,849.48 320.73 Wheat : 1996/97 : 582.77 689.62 125.23 576.49 113.13 1997/98 (Est.) : 610.09 723.22 122.52 584.44 138.77 1998/99 (Proj.) : March : 586.58 724.46 111.76 597.08 127.38 April : 587.12 725.89 111.16 591.83 134.06 Coarse grains 4/ : 1996/97 : 907.15 1,004.90 107.07 877.32 127.58 1997/98 (Est.) : 880.79 1,008.37 100.59 872.90 135.47 1998/99 (Proj.) : March : 878.66 1,013.84 103.96 875.47 138.37 April : 878.13 1,013.60 103.96 873.18 140.42 Rice, milled : 1996/97 : 380.42 430.36 20.20 379.74 50.62 1997/98 (Est.) : 386.23 436.85 26.97 384.53 52.32 1998/99 (Proj.) : March : 377.96 429.94 22.77 384.23 45.71 April : 378.39 430.71 22.89 384.47 46.25 : : United States Total grains 3/ : 1996/97 : 333.15 364.40 81.28 243.17 39.95 1997/98 (Est.) : 333.94 379.69 76.35 244.62 58.72 1998/99 (Proj.) : March : 347.10 411.56 82.42 253.30 75.83 April : 347.10 411.54 82.42 250.91 78.21 Wheat : 1996/97 : 61.98 74.73 27.26 35.40 12.07 1997/98 (Est.) : 67.53 82.19 28.32 34.21 19.66 1998/99 (Proj.) : March : 69.41 91.66 28.58 37.10 25.99 April : 69.41 91.66 28.58 37.10 25.99 Coarse grains 4/ : 1996/97 : 265.71 283.08 51.52 204.55 27.01 1997/98 (Est.) : 260.43 290.37 45.25 206.97 38.15 1998/99 (Proj.) : March : 271.55 312.57 51.10 212.65 48.82 April : 271.55 312.54 51.10 210.26 51.17 Rice, milled : 1996/97 : 5.46 6.59 2.50 3.23 0.87 1997/98 (Est.) : 5.98 7.13 2.78 3.45 0.90 1998/99 (Proj.) : March : 6.14 7.33 2.74 3.56 1.03 April : 6.14 7.35 2.74 3.55 1.06 =============================================================================== 1/ Aggregate of local marketing years. 2/ Based on export estimate. See individual commodity tables for treatment of export/import imbalances. 3/ Wheat, coarse grains and milled rice. 4/ Corn, sorghum, barley, oats, rye, millet and mixed grains (for U.S. excludes millet and mixed grains). WASDE-349-5 World and U.S. Supply and Use for Grains, Continued 1/ Million Metric Tons =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : Foreign 3/ Total grains 4/ : 1996/97 : 1,537.19 1,760.47 171.22 1,590.38 251.37 1997/98 (Est.) : 1,543.18 1,788.74 173.73 1,597.24 267.85 1998/99 (Proj.) : March : 1,496.10 1,756.69 156.07 1,603.48 235.63 April : 1,496.54 1,758.66 155.59 1,598.57 242.51 Wheat : 1996/97 : 520.79 614.89 97.98 541.10 101.05 1997/98 (Est.) : 542.56 641.03 94.21 550.24 119.11 1998/99 (Proj.) : March : 517.17 632.80 83.19 559.99 101.39 April : 517.71 634.23 82.59 554.74 108.07 Coarse grains 5/ : 1996/97 : 641.44 721.81 55.54 672.77 100.57 1997/98 (Est.) : 620.37 718.00 55.33 665.93 97.32 1998/99 (Proj.) : March : 607.11 701.27 52.86 662.82 89.55 April : 606.58 701.07 52.86 662.92 89.26 Rice, milled : 1996/97 : 374.96 423.77 17.70 376.51 49.75 1997/98 (Est.) : 380.26 429.72 24.19 381.08 51.42 1998/99 (Proj.) : March : 371.82 422.61 20.02 380.67 44.69 April : 372.25 423.37 20.14 380.92 45.19 =============================================================================== 1/ Aggregate of local marketing years. 2/ Based on export estimate. See individual commodity tables for treatment of export/import imbalances. 3/ Total foreign is equal to world minus United States. 4/ Wheat, coarse grains and milled rice. 5/ Corn, sorghum, barley, oats, rye, millet and mixed grains. World and U.S. Supply and Use for Cotton 1/ Million 480-lb. bales =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : World 1996/97 : 89.56 125.38 26.83 89.08 38.25 1997/98 (Est.) : 91.60 129.84 26.54 88.30 41.41 1998/99 (Proj.) : March : 85.29 126.79 23.93 85.01 42.17 April : 84.68 126.09 23.84 84.72 41.92 : United States 1996/97 : 18.94 21.95 6.87 11.13 3.97 1997/98 (Est.) : 18.79 22.78 7.50 11.35 3.89 1998/99 (Proj.) : March : 13.80 18.03 4.20 10.40 3.40 April : 13.91 18.15 4.20 10.40 3.50 : Foreign 3/ 1996/97 : 70.61 103.43 19.96 77.95 34.28 1997/98 (Est.) : 72.80 107.07 19.04 76.95 37.52 1998/99 (Proj.) : March : 71.49 108.76 19.73 74.61 38.77 April : 70.77 107.94 19.64 74.32 38.42 =============================================================================== 1/ Marketing year beginning August 1. 2/ Based on export estimate. 3/ Total Foreign is equal to world minus United States. See global cotton tables for treatment of export/import imbalances. WASDE-349-6 World and U.S. Supply and Use for Oilseeds 1/ (Million Metric Tons) =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade : Use 2/ : Stocks =============================================================================== : : World Oilseeds : 1996/97 : 261.75 283.80 49.36 218.94 17.10 1997/98 (Est.) : 286.34 303.44 53.90 229.34 23.94 1998/99 (Proj.) : March : 294.15 318.04 53.87 236.94 30.87 April : 293.19 317.12 53.69 236.19 29.66 Oilmeals : 1996/97 : 149.50 156.28 50.70 150.46 5.91 1997/98 (Est.) : 156.36 162.27 51.61 156.59 5.58 1998/99 (Proj.) : March : 161.32 166.68 53.86 160.54 5.75 April : 161.38 166.96 54.23 160.71 5.83 Vegetable Oils : 1996/97 : 75.57 83.02 28.87 75.11 7.45 1997/98 (Est.) : 76.98 84.43 29.77 76.83 7.36 1998/99 (Proj.) : March : 80.28 87.61 29.90 80.18 7.04 April : 80.18 87.55 30.03 80.38 7.02 : : United States Oilseeds : 1996/97 : 74.76 81.40 24.63 44.14 4.65 1997/98 (Est.) : 83.10 88.42 24.45 48.88 6.44 1998/99 (Proj.) : March : 84.62 91.79 22.21 47.04 13.80 April : 84.62 91.79 21.89 46.95 12.74 Oilmeals : 1996/97 : 33.77 35.05 6.60 28.22 0.23 1997/98 (Est.) : 37.42 39.00 8.70 30.00 0.30 1998/99 (Proj.) : March : 35.90 37.55 6.52 30.74 0.29 April : 35.88 37.54 6.54 30.71 0.29 Vegetable Oils : 1996/97 : 8.46 11.19 1.61 8.62 0.96 1997/98 (Est.) : 9.60 12.22 2.13 9.10 0.99 1998/99 (Proj.) : March : 9.37 11.93 1.76 9.31 0.86 April : 9.34 11.82 1.79 9.18 0.85 : : Foreign 3/ Oilseeds : 1996/97 : 187.00 202.40 24.72 174.80 12.44 1997/98 (Est.) : 203.24 215.02 29.45 180.46 17.49 1998/99 (Proj.) : March : 209.53 226.25 31.66 189.91 17.07 April : 208.57 225.33 31.80 189.24 16.93 Oilmeals : 1996/97 : 115.73 121.23 44.10 122.24 5.68 1997/98 (Est.) : 118.94 123.27 42.91 126.59 5.28 1998/99 (Proj.) : March : 125.42 129.13 47.35 129.80 5.46 April : 125.50 129.43 47.70 130.00 5.54 Vegetable Oils : 1996/97 : 67.11 71.83 27.26 66.49 6.49 1997/98 (Est.) : 67.38 72.21 27.64 67.74 6.37 1998/99 (Proj.) : March : 70.90 75.68 28.14 70.87 6.18 April : 70.84 75.72 28.24 71.20 6.16 =============================================================================== 1/ Aggregate of local marketing years with Brazil and Argentina on an Oct.-Sept. year. 2/ Crush only for oilseeds. 3/ Total foreign is equal to world minus United States. WASDE-349-7 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :============================== : : Est. : March April =============================================================================== Area : Million acres Planted : 75.1 70.4 65.9 65.9 Harvested : 62.8 62.8 59.0 59.0 Yield per harvested : Bushels acre : 36.3 39.5 43.2 43.2 : Million bushels Beginning stocks : 376 444 722 722 Production : 2,277 2,481 2,550 2,550 Imports : 92 95 95 95 Supply, total : 2,746 3,020 3,368 3,368 Food : 891 916 925 925 Seed : 102 93 88 88 Feed and residual : 308 248 350 350 Domestic, total : 1,301 1,257 1,363 1,363 Exports : 1,002 1,040 1,050 1,050 Use, total : 2,302 2,297 2,413 2,413 Ending stocks : 444 722 955 955 CCC inventory : 93 94 110 110 Free stocks : 351 628 845 845 Avg. farm price ($/bu) 2/ : 4.30 3.38 2.65- 2.75 2.65- 2.75 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 1997/98 (estimated) : Million bushels Beginning stocks : 143 166 45 59 31 444 Production : 1,098 491 472 332 88 2,481 Supply, total 3/ : 1,242 714 517 399 148 3,020 Domestic use : 577 254 257 104 65 1,257 Exports : 358 240 180 205 57 1,040 Use, total : 935 494 437 309 122 2,297 Ending stocks, total : 307 220 80 90 26 722 : 1998/99 (projected) : Beginning stocks : 307 220 80 90 26 722 Production : 1,182 487 443 298 141 2,550 Supply, total 3/ : 1,490 759 523 397 200 3,368 Domestic use : 610 267 298 101 88 1,363 Exports : 435 250 100 225 40 1,050 Use, total : 1,045 517 398 326 128 2,413 Ending stocks, total : April : 445 242 125 71 72 955 March : 451 249 125 61 68 955 =============================================================================== 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. WASDE-349-8 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :============================== : : Est. : March April =============================================================================== FEED GRAINS : Area : Million acres Planted : 104.1 101.4 101.1 101.1 Harvested : 93.8 90.8 89.0 89.0 Yield per harvested : Metric tons acre : 2.83 2.87 3.05 3.05 : Million metric tons Beginning stocks : 14.4 27.0 38.1 38.1 Production : 265.5 260.2 271.2 271.2 Imports : 2.8 2.8 2.8 2.7 Supply, total : 282.7 290.0 312.1 312.1 Feed and residual : 155.0 154.8 158.5 156.4 Food, seed & industrial : 49.2 51.8 53.8 53.5 Domestic, total : 204.2 206.6 212.2 209.9 Exports : 51.5 45.3 51.1 51.1 Use, total : 255.7 251.9 263.4 261.0 Ending stocks, total : 27.0 38.1 48.8 51.2 CCC inventory : 0.1 0.1 0.3 0.3 Free stocks : 26.9 38.0 48.5 50.9 Outstanding loans : 5.0 8.5 8.8 8.8 : CORN : Area : Million acres Planted : 79.2 79.5 80.2 80.2 Harvested : 72.6 72.7 72.6 72.6 Yield per harvested : Bushels acre : 127.1 126.7 134.4 134.4 : Million bushels Beginning stocks : 426 883 1,308 1,308 Production : 9,233 9,207 9,761 9,761 Imports : 13 9 12 15 Supply, total : 9,672 10,099 11,081 11,084 Feed and residual : 5,302 5,505 5,700 5,625 Food, seed & industrial : 1,692 1,782 1,870 1,860 Domestic, total : 6,994 7,287 7,570 7,485 Exports : 1,795 1,504 1,800 1,800 Use, total : 8,789 8,791 9,370 9,285 Ending stocks, total : 883 1,308 1,711 1,799 CCC inventory : 2 4 12 10 Free stocks : 881 1,304 1,699 1,789 Outstanding loans : 179 310 325 325 Avg. farm price ($/bu) 2/ : 2.71 2.43 1.90- 2.10 1.90- 2.10 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. WASDE-349-9 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :============================== : : Est. : March April =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 13.1 10.1 9.6 9.6 Area harv. (mil. acres) : 11.8 9.2 7.7 7.7 Yield (bushels/acre) : 67.3 69.2 67.3 67.3 Beginning stocks : 18 47 49 49 Production : 795 634 520 520 Imports : 0 0 0 0 Supply, total : 814 681 569 569 Feed : 516 365 275 275 Food, seed & industrial : 45 55 45 45 Total domestic : 561 420 320 320 Exports : 205 212 185 185 Use, total : 766 632 505 505 Ending stocks, total : 47 49 64 64 Avg. farm price ($/bu) 2/ : 2.34 2.21 1.65- 1.75 1.65- 1.75 : BARLEY : Area planted (mil. acres) : 7.1 6.7 6.3 6.3 Area harv. (mil. acres) : 6.7 6.2 5.9 5.9 Yield (bushels/acre) : 58.5 58.1 60.1 60.1 Beginning stocks : 100 109 119 119 Production : 392 360 352 352 Imports : 37 40 30 25 Supply, total : 529 510 502 497 Feed : 217 144 185 170 Food, seed & industrial : 172 172 172 170 Total domestic : 389 316 357 340 Exports : 31 74 30 30 Use, total : 419 390 387 370 Ending stocks, total : 109 119 115 127 Avg. farm price ($/bu) 2/ : 2.74 2.38 1.90- 2.00 1.90- 2.00 : OATS : Area planted (mil. acres) : 4.6 5.1 4.9 4.9 Area harv. (mil. acres) : 2.7 2.8 2.8 2.8 Yield (bushels/acre) : 57.7 59.5 60.4 60.4 Beginning stocks : 66 67 74 74 Production : 153 167 167 167 Imports : 97 98 105 105 Supply, total : 317 332 346 346 Feed : 153 161 165 175 Food, seed & industrial : 94 95 95 95 Total domestic : 248 256 260 270 Exports : 3 2 2 2 Use, total : 250 258 262 272 Ending stocks, total : 67 74 84 74 Avg. farm price ($/bu) 2/ : 1.96 1.60 1.10- 1.20 1.10- 1.20 =============================================================================== 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. WASDE-349-10 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :============================== : : Est. : March April =============================================================================== TOTAL : Area : Million acres Planted : 2.82 3.13 3.35 3.35 Harvested : 2.80 3.10 3.32 3.32 Yield per harvested : Pounds acre : 6,120 5,897 5,669 5,669 : Million hundredweight Beginning stocks 2/ : 25.0 27.2 27.7 27.7 Production : 171.6 183.0 188.1 188.1 Imports : 10.0 9.2 9.0 9.5 Supply, total : 206.6 219.4 224.7 225.2 Domestic & residual 3/ : 101.0 106.5 109.2 108.8 Exports, total 4/ : 78.4 85.2 84.0 84.0 Rough : 12.6 26.1 24.0 25.0 Milled (rough equiv.) : 65.9 59.1 60.0 59.0 Use, total : 179.4 191.7 193.2 192.8 Ending stocks : 27.2 27.7 31.5 32.4 Avg. farm price ($/cwt) 5/ : 9.96 9.70 8.40- 8.80 8.50- 8.80 : LONG GRAIN : Harvested acres (mil.) : 1.97 2.31 2.61 2.61 Yield (pounds/acre) : 5,777 5,391 5,430 5,430 Beginning stocks : 10.1 14.1 14.3 14.3 Production : 113.6 124.5 141.6 141.6 Supply, total 6/ : 132.5 146.6 163.8 164.3 Domestic & Residual 3/ : 61.9 62.5 72.1 71.8 Exports 7/ : 56.5 69.7 69.5 69.5 Use, total : 118.4 132.2 141.6 141.3 Ending stocks : 14.1 14.3 22.2 23.0 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.84 0.79 0.71 0.71 Yield (pounds/acre) : 6,926 7,369 6,548 6,548 Beginning stocks : 14.3 12.1 12.3 12.3 Production : 58.0 58.5 46.4 46.4 Supply, total 6/ : 73.1 71.8 59.9 59.9 Domestic & Residual 3/ : 39.1 44.0 37.1 37.0 Exports 7/ : 22.0 15.5 14.5 14.5 Use, total : 61.0 59.5 51.6 51.5 Ending stocks : 12.1 12.3 8.3 8.4 =============================================================================== 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): 1996/97-0.6; 1997/98-1.0; 1998/99-1.0. 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. WASDE-349-11 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :=============================== : : Est. : March April =============================================================================== SOYBEANS: : Million acres Area : Planted : 64.2 70.0 72.4 72.4 Harvested : 63.3 69.1 70.8 70.8 : : Bushels Yield per harvested : acre : 37.6 38.9 38.9 38.9 : : Million bushels : Beginning stocks : 183 132 200 200 Production : 2,380 2,689 2,757 2,757 Imports : 9 5 6 6 Supply, total : 2,573 2,826 2,963 2,963 Crushings : 1,436 1,597 1,560 1,560 Exports : 882 870 780 770 Seed : 82 86 88 88 Residual : 41 72 65 115 3/ Use, total : 2,441 2,626 2,493 2,533 Ending stocks : 132 200 470 430 Avg. farm price ($/bu) 2/ : 7.35 6.47 4.95- 5.15 5.00 - 5.10 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 2,015 1,520 1,382 1,382 Production : 15,752 18,143 17,620 17,605 4/ Imports : 53 60 63 58 Supply, total : 17,821 19,724 19,065 19,045 Domestic : 14,263 15,264 15,650 15,500 Exports : 2,037 3,077 2,205 2,350 Use, total : 16,300 18,341 17,855 17,850 Ending stocks : 1,520 1,382 1,210 1,195 Average price (c/lb) 2/ : 22.50 25.84 21.00- 20.50- : 23.00 22.50 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 212 210 218 218 Production : 34,210 38,171 36,807 36,807 4/ Imports : 102 56 50 50 Supply, total : 34,524 38,437 37,075 37,075 Domestic : 27,320 28,889 29,800 29,800 Exports : 6,994 9,330 7,000 7,000 Use, total : 34,314 38,219 36,800 36,800 Ending stocks : 210 218 275 275 Average price ($/s.t.) 2/ : 270.90 185.54 125.00- 130.00- : 135.00 140.00 =============================================================================== 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/ Supply estimates and reported use through February, coupled with USDA March 1 stocks estimate, indicate an above-average residual. 4/ Based on October year crush estimate of 1,555 million bushels. WASDE-349-12 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :====================== : : Estimate : March April ====================================================================== : 1,000 short tons, raw value Beginning stocks 2/ : 1,492 1,488 1,679 1,679 Production 2/3/ : 7,205 8,020 8,037 8,037 Beet sugar : 4,013 4,389 4,225 4,225 Cane sugar 4/ : 3,192 3,631 3,812 3,812 Imports 2/ : 2,774 2,163 2,047 1,907 TRQ 5/ : 2,277 1,729 1,577 1,412 Other 6/ : 497 434 470 495 Total supply : 11,471 11,671 11,763 11,623 : Exports 2/7/ : 211 179 175 175 Domestic deliveries 2/ : 9,742 9,815 9,975 9,975 Domestic food use : 9,564 9,672 9,778 9,753 Other 8/ : 178 143 197 222 Miscellaneous 9/ : 30 (2) 0 0 Use, total : 9,983 9,992 10,150 10,150 Ending stocks 2/ : 1,488 1,679 1,613 1,473 : Stocks to use ratio : 14.9 16.8 15.9 14.5 ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. 2/ Historical data are from FSA, "Sweetener Market Data" except 1996/97 imports from U.S. Customs Service. 3/ Projections for 1998/99 are based on April Crop Production report and analyses by the Interagency Commodity Estimates Committee for sugar. 4/ Production by state for 1997/98 (projected 1998/99): FL 1,924 (2,100); HI 350 (350); LA 1,262 (1,260); TX 80 (95); PR 16 (7). 5/ 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. The 1998/99 TRQ includes a forecast 65,000 tons shortfall. 6/ Quota exempt imports (for reexport, for polyhydric alcohol, sugar syrup under USHTS 1702904000, and high-duty). 7/ Mostly reexports. 8/ Transfer to sugar containing products for reexport, for nonedible alcohol, and feed. 9/ Residual. 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 --------------------------------------------------------------------- WASDE-349-13 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 1998/99 Projections Item : 1996/97 : 1997/98 :=============================== : : Est. : March April =============================================================================== : Million acres Area : Planted : 14.65 13.90 13.42 13.42 Harvested : 12.89 13.41 10.72 10.72 : : Pounds Yield per harvested : acre : 705 673 618 623 : : Million 480 pound bales : Beginning stocks 2/ : 2.61 3.97 3.89 3.89 Production : 18.94 18.79 13.80 13.91 Imports : 0.40 0.01 0.35 0.35 Supply, total : 21.95 22.78 18.03 18.15 Domestic use : 11.13 11.35 10.40 10.40 Exports : 6.87 7.50 4.20 4.20 Use, total : 17.99 18.85 14.60 14.60 Unaccounted 3/ : -0.01 0.04 0.03 0.05 Ending stocks : 3.97 3.89 3.40 3.50 : Avg. farm price 4/ : 69.3 65.2 62.1 5/ =============================================================================== Note: Reliability calculations at end of report. 1/ Upland and extra-long staple; marketing year beginning August 1. Totals may not add due to rounding. 2/ Based on Bureau of Census data. 3/ Reflects the difference between the previous season's supply less total use and ending stocks based on Bureau of Census data. 4/ Cents per pound. 5/ Weighted average for August 1998-February 1999. WASDE-349-14 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1996/97 : World 3/ : 106.85 582.77 119.78 96.91 576.49 125.23 113.13 United States : 10.23 61.98 2.51 8.37 35.40 27.26 12.07 Total foreign : 96.61 520.79 117.26 88.53 541.10 97.98 101.05 Major exporters 4/ : 19.47 167.91 23.22 44.09 96.42 87.18 27.00 Argentina : 0.15 15.90 0.03 0.45 5.08 10.20 0.80 Australia : 1.48 23.70 0.05 1.18 3.60 19.23 2.40 Canada : 6.73 29.80 0.24 4.39 8.22 19.50 9.05 EU-15 : 11.12 98.51 22.90 38.07 79.51 38.26 14.76 Major importers 5/ : 38.02 173.26 37.06 15.93 205.92 2.95 39.46 Brazil : 0.22 3.20 5.57 0.05 8.41 0.00 0.58 China : 24.25 110.57 2.69 3.40 112.39 0.96 24.17 East. Europe : 7.78 26.13 5.13 10.67 31.13 1.49 6.41 N. Africa : 2.00 15.98 14.39 0.36 27.73 0.09 4.56 Pakistan : 2.90 16.91 3.01 0.45 20.12 0.00 2.70 Selected other : India : 12.00 62.10 1.45 0.35 66.84 1.70 7.00 FSU-12 6/ : 10.86 63.02 6.63 22.50 70.52 3.62 6.37 Russia : 2.95 34.90 2.55 14.34 38.07 0.67 1.65 Kazakstan : 0.73 7.70 0.01 1.50 5.12 2.25 1.07 : : 1997/98 (Estimated) : World 3/ : 113.13 610.09 123.08 103.47 584.44 122.52 138.77 United States : 12.07 67.53 2.58 6.75 34.21 28.32 19.66 Total foreign : 101.05 542.56 120.50 96.72 550.24 94.21 119.11 Major exporters 4/ : 27.00 152.68 25.97 48.00 99.66 82.18 23.81 Argentina : 0.80 14.80 0.03 0.35 4.54 10.67 0.42 Australia : 2.40 19.42 0.04 2.76 5.16 15.34 1.35 Canada : 9.05 24.28 0.13 3.33 7.33 20.13 5.99 EU-15 : 14.76 94.18 25.78 41.57 82.64 36.03 16.05 Major importers 5/ : 39.46 187.43 37.72 17.92 210.13 4.29 50.18 Brazil : 0.58 2.38 6.19 0.00 8.61 0.00 0.54 China : 24.17 123.30 1.91 5.00 114.88 1.14 33.37 East. Europe : 6.41 34.35 1.78 11.36 32.01 2.68 7.85 N. Africa : 4.56 10.18 17.50 0.31 28.16 0.09 3.99 Pakistan : 2.70 16.65 4.13 0.30 20.26 0.01 3.21 Selected other : India : 7.00 69.35 1.73 0.35 68.00 0.00 10.08 FSU-12 6/ : 6.37 80.31 5.78 24.50 72.07 4.60 15.80 Russia : 1.65 44.20 2.63 16.00 39.55 0.86 8.08 Kazakstan : 1.07 8.95 0.01 1.20 4.82 1.89 3.32 =============================================================================== 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, Pakistan, and Tunisia. 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-349-15 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: =============================================================================== : : 1998/99 (Projected) World 3/ : March : 137.88 586.58 111.45 108.19 597.08 111.76 127.38 April : 138.77 587.12 111.74 107.69 591.83 111.16 134.06 United States : March : 19.66 69.41 2.59 9.53 37.10 28.58 25.99 April : 19.66 69.41 2.59 9.53 37.10 28.58 25.99 Total foreign : March : 118.21 517.17 108.86 98.67 559.99 83.19 101.39 April : 119.11 517.71 109.15 98.17 554.74 82.59 108.07 Major exporters 4/ : March : 23.84 159.63 21.07 53.37 105.08 69.11 30.35 April : 23.81 159.63 21.07 52.87 104.74 69.61 30.15 Argentina Mar : 0.42 10.75 0.03 0.10 4.40 6.50 0.30 Apr : 0.42 10.75 0.03 0.10 4.40 6.50 0.30 Australia Mar : 1.35 21.00 0.03 3.00 5.30 14.00 3.08 Apr : 1.35 21.00 0.03 3.00 5.30 15.00 2.08 Canada Mar : 5.99 24.40 0.20 4.20 8.20 14.50 7.89 Apr : 5.99 24.40 0.20 4.20 8.20 14.00 8.39 EU-15 Mar : 16.08 103.48 20.81 46.07 87.18 34.11 19.09 Apr : 16.05 103.48 20.81 45.57 86.85 34.11 19.39 Major importers 5/ : March : 50.18 179.57 33.37 19.06 215.71 4.69 42.73 April : 50.18 179.56 33.22 19.06 214.55 4.19 44.23 Brazil Mar : 0.54 2.20 5.80 0.20 8.00 0.00 0.54 Apr : 0.54 2.20 5.80 0.20 8.00 0.00 0.54 China Mar : 33.37 110.00 1.50 5.00 116.00 1.00 27.87 Apr : 33.37 110.00 1.50 5.00 116.00 0.75 28.12 East. Europe Mar : 7.85 34.10 1.37 12.30 34.20 3.20 5.91 Apr : 7.85 34.09 1.22 12.30 34.04 2.95 6.16 N. Africa Mar : 3.99 14.01 15.30 0.31 28.96 0.09 4.26 Apr : 3.99 14.01 15.30 0.31 28.96 0.09 4.26 Pakistan Mar : 3.21 18.70 3.20 0.30 22.25 0.00 2.86 Apr : 3.21 18.70 3.20 0.30 21.25 0.00 3.86 Selected other : India Mar : 9.60 66.05 1.65 0.35 69.00 0.00 8.30 Apr : 10.08 65.91 1.65 0.35 67.00 0.00 10.64 FSU-12 6/ Mar : 15.79 56.50 6.58 19.27 67.54 5.10 6.23 Apr : 15.80 56.24 6.58 19.27 67.34 4.50 6.77 Russia Mar : 8.08 26.90 3.70 12.35 36.35 1.00 1.33 Apr : 8.08 26.90 3.70 12.35 36.35 1.20 1.13 Kazakstan Mar : 3.32 5.00 0.00 1.30 4.90 1.80 1.62 Apr : 3.32 4.70 0.00 1.30 4.70 1.00 2.32 =============================================================================== 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, Pakistan, and Tunisia. 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-349-16 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: =============================================================================== : : 1996/97 : World 3/ : 97.74 907.15 104.06 576.70 877.32 107.07 127.58 United States : 14.44 265.71 2.93 155.11 204.55 51.52 27.01 Total foreign : 83.31 641.44 101.13 421.59 672.77 55.54 100.57 Major exporters 4/ : 5.48 67.97 1.26 34.55 42.62 23.03 9.07 Argentina : 0.71 18.93 0.08 4.79 6.78 11.84 1.11 Australia : 0.66 10.15 0.01 4.50 5.74 4.41 0.67 Canada : 2.90 28.19 0.92 19.14 21.77 5.40 4.85 Major importers 5/ : 25.18 197.43 64.90 171.65 234.21 25.43 27.87 EU-15 : 9.83 103.75 16.90 72.58 95.52 22.79 12.17 East. Europe : 5.17 49.96 1.99 37.99 49.44 2.51 5.17 Japan : 2.18 0.24 20.66 16.44 20.85 0.00 2.22 Mexico : 3.43 26.49 5.37 15.87 31.55 0.04 3.70 Southeast Asia : 1.33 14.31 3.98 13.40 18.31 0.07 1.24 South Korea : 0.75 0.49 8.80 7.03 9.18 0.00 0.86 Selected other : China : 35.70 141.32 2.11 89.55 128.59 4.00 46.54 FSU-12 6/ : 4.25 52.02 1.72 33.69 53.39 1.40 3.21 Russia : 1.49 31.65 0.83 19.92 32.64 0.35 0.98 Ukraine : 1.74 9.51 0.04 5.70 9.89 0.28 1.13 : : 1997/98 (Estimated) : World 3/ : 127.58 880.79 99.83 582.27 872.90 100.59 135.47 United States : 27.01 260.43 2.94 154.98 206.97 45.25 38.15 Total foreign : 100.57 620.37 96.90 427.30 665.93 55.33 97.32 Major exporters 4/ : 9.07 67.29 1.79 36.37 46.67 22.08 9.40 Argentina : 1.11 24.67 0.01 7.44 9.62 13.76 2.41 Australia : 0.67 9.47 0.01 4.47 5.69 3.32 1.14 Canada : 4.85 25.12 1.52 19.88 23.44 3.75 4.30 Major importers 5/ : 27.87 206.47 62.87 173.96 234.81 22.22 40.17 EU-15 : 12.17 109.33 16.36 75.31 97.23 18.05 22.59 East. Europe : 5.17 58.58 1.10 41.89 53.25 3.08 8.51 Japan : 2.22 0.20 21.03 16.28 20.69 0.00 2.76 Mexico : 3.70 22.76 7.93 16.12 31.34 0.50 2.55 Southeast Asia : 1.24 13.18 3.23 11.42 16.11 0.60 0.94 South Korea : 0.86 0.35 7.60 6.06 8.31 0.00 0.50 Selected other : China : 46.54 114.65 1.76 93.83 129.55 6.20 27.20 FSU-12 6/ : 3.21 67.90 1.38 37.32 57.60 3.25 11.64 Russia : 0.98 40.85 0.61 20.99 33.84 1.55 7.05 Ukraine : 1.13 15.46 0.01 7.97 12.54 1.19 2.86 =============================================================================== 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 South Africa. 5/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, South Korea, Taiwan, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-349-17 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: =============================================================================== : : 1998/99 (Projected) World 3/ : March : 135.18 878.66 101.61 576.18 875.47 103.96 138.37 April : 135.47 878.13 102.08 574.57 873.18 103.96 140.42 United States : March : 38.15 271.55 2.87 158.64 212.65 51.10 48.82 April : 38.15 271.55 2.84 156.55 210.26 51.10 51.17 Total foreign : March : 97.03 607.11 98.74 417.54 662.82 52.86 89.55 April : 97.32 606.58 99.24 418.02 662.92 52.86 89.26 Major exporters 4/ : March : 9.21 60.75 1.45 35.91 46.02 17.29 8.10 April : 9.40 60.07 1.80 35.97 46.08 17.29 7.89 Argentina Mar : 2.41 18.49 0.01 6.87 8.98 10.26 1.68 Apr : 2.41 18.85 0.01 7.08 9.19 10.41 1.68 Australia Mar : 1.44 8.31 0.01 4.39 5.60 3.23 0.94 Apr : 1.14 8.31 0.01 4.24 5.45 3.33 0.68 Canada Mar : 4.30 26.50 0.77 20.14 23.58 3.55 4.44 Apr : 4.30 26.50 0.77 20.24 23.68 3.35 4.54 Major importers 5/ : March : 40.14 197.99 61.44 169.63 231.95 27.78 39.84 April : 40.17 197.82 61.04 169.45 231.83 27.63 39.56 EU-15 Mar : 22.60 104.35 17.09 72.14 94.38 24.53 25.12 Apr : 22.58 104.30 17.09 72.26 94.54 24.53 24.89 East. Europe Mar : 8.47 50.66 0.74 39.76 50.97 2.80 6.09 Apr : 8.51 50.53 0.74 39.73 50.96 2.80 6.02 Japan Mar : 2.76 0.15 20.39 16.39 20.79 0.00 2.51 Apr : 2.76 0.15 20.39 16.39 20.79 0.00 2.51 Mexico Mar : 2.56 24.70 7.57 16.78 32.52 0.10 2.21 Apr : 2.55 24.70 7.57 16.78 32.52 0.10 2.20 Southeast Asia Mar : 0.93 15.65 2.75 12.09 17.64 0.35 1.35 Apr : 0.94 15.65 2.35 11.82 17.37 0.20 1.38 South Korea Mar : 0.50 0.49 7.30 5.60 7.81 0.00 0.49 Apr : 0.50 0.49 7.30 5.60 7.81 0.00 0.49 Selected other : China Mar : 27.20 135.65 2.70 95.60 131.15 4.10 30.30 Apr : 27.20 135.65 2.70 95.60 131.15 4.10 30.30 FSU-12 6/ Mar : 11.53 37.54 2.00 27.90 46.94 1.44 2.69 Apr : 11.64 37.94 2.00 28.19 47.23 1.44 2.91 Russia Mar : 7.05 18.95 1.35 14.45 26.55 0.20 0.60 Apr : 7.05 18.95 1.35 14.45 26.55 0.20 0.60 Ukraine Mar : 2.82 10.15 0.00 6.74 11.10 0.92 0.96 Apr : 2.86 10.45 0.00 7.03 11.39 0.92 1.01 =============================================================================== 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 South Africa. 5/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, South Korea, Taiwan, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-349-18 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1996/97 : World 3/ : 68.78 591.16 71.39 393.67 567.38 73.31 92.55 United States : 10.82 234.52 0.34 134.67 177.64 45.60 22.43 Total foreign : 57.96 356.64 71.05 259.00 389.74 27.71 70.12 Major exporters 4/ : 1.60 25.64 0.11 8.48 11.98 12.17 3.20 Argentina : 0.40 15.50 0.00 2.78 4.32 10.83 0.75 South Africa : 1.20 10.14 0.11 5.70 7.65 1.34 2.45 Major importers 5/ : 12.63 94.38 48.48 92.43 131.56 10.31 13.61 EU-15 : 2.33 34.79 10.17 27.50 35.96 8.06 3.28 Japan : 1.07 0.00 15.96 12.00 16.10 0.00 0.93 Mexico : 2.60 18.92 3.14 7.10 22.17 0.04 2.45 Southeast Asia : 1.33 14.11 3.97 13.20 18.11 0.07 1.24 South Korea : 0.75 0.07 8.34 6.64 8.30 0.00 0.86 Selected other : China : 34.70 127.47 0.08 86.00 113.35 3.89 45.00 FSU-12 6/ : 1.58 5.02 0.45 3.55 5.63 0.30 1.11 Russia : 0.16 1.10 0.19 0.44 1.29 0.00 0.16 : : 1997/98 (Estimated) : World 3/ : 92.55 573.88 71.20 407.84 579.73 71.70 86.70 United States : 22.43 233.86 0.22 139.83 185.09 38.21 33.22 Total foreign : 70.12 340.01 70.98 268.01 394.65 33.49 53.48 Major exporters 4/ : 3.20 26.90 0.10 8.99 13.64 13.40 3.16 Argentina : 0.75 19.36 0.00 4.75 6.35 12.15 1.61 South Africa : 2.45 7.54 0.10 4.24 7.29 1.25 1.55 Major importers 5/ : 13.61 100.92 47.11 94.86 132.57 12.50 16.57 EU-15 : 3.28 38.60 10.22 31.09 38.82 8.91 4.38 Japan : 0.93 0.00 16.42 11.80 15.90 0.00 1.45 Mexico : 2.45 16.93 4.38 7.01 21.76 0.50 1.50 Southeast Asia : 1.24 12.98 3.23 11.23 15.91 0.60 0.94 South Korea : 0.86 0.09 7.53 6.05 7.98 0.00 0.50 Selected other : China : 45.00 104.30 0.28 91.00 117.41 6.17 26.00 FSU-12 6/ : 1.11 10.70 0.33 6.52 8.78 0.82 2.54 Russia : 0.16 2.70 0.19 1.55 2.49 0.00 0.56 =============================================================================== 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 and South Africa. 5/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, South Korea, Taiwan, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-349-19 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: =============================================================================== : : 1998/99 (Projected) World 3/ : March : 86.24 593.73 70.46 410.28 584.72 71.30 95.26 April : 86.70 592.49 70.96 408.32 581.98 71.30 97.20 United States : March : 33.22 247.94 0.31 144.79 192.29 45.72 43.46 April : 33.22 247.94 0.38 142.88 190.13 45.72 45.69 Total foreign : March : 53.03 345.79 70.16 265.49 392.43 25.57 51.80 April : 53.48 344.55 70.58 265.44 391.85 25.57 51.51 Major exporters 4/ : March : 2.66 21.50 0.50 8.65 13.25 9.25 2.16 April : 3.16 20.50 0.85 8.60 13.20 9.20 2.11 Argentina Mar : 1.61 14.50 0.00 4.40 6.00 9.00 1.11 Apr : 1.61 14.50 0.00 4.40 6.00 9.00 1.11 South Africa Mar : 1.05 7.00 0.50 4.25 7.25 0.25 1.05 Apr : 1.55 6.00 0.85 4.20 7.20 0.20 1.00 Major importers 5/ : March : 16.51 92.92 46.24 91.77 130.75 11.19 13.73 April : 16.57 92.85 45.84 91.60 130.58 11.04 13.65 EU-15 Mar : 4.38 34.15 10.63 29.32 37.19 8.61 3.36 Apr : 4.38 34.20 10.63 29.42 37.29 8.61 3.30 Japan Mar : 1.45 0.00 16.00 12.10 16.20 0.00 1.26 Apr : 1.45 0.00 16.00 12.10 16.20 0.00 1.26 Mexico Mar : 1.50 17.50 4.75 7.00 22.25 0.10 1.40 Apr : 1.50 17.50 4.75 7.00 22.25 0.10 1.40 Southeast Asia Mar : 0.93 15.45 2.75 11.90 17.44 0.35 1.35 Apr : 0.94 15.45 2.35 11.63 17.17 0.20 1.38 South Korea Mar : 0.50 0.09 7.00 5.40 7.10 0.00 0.49 Apr : 0.50 0.09 7.00 5.40 7.10 0.00 0.49 Selected other : China Mar : 26.00 124.00 0.35 93.00 117.35 4.00 29.00 Apr : 26.00 124.00 0.35 93.00 117.35 4.00 29.00 FSU-12 6/ Mar : 2.50 5.09 0.76 4.71 6.77 0.30 1.28 Apr : 2.54 5.39 0.76 5.01 7.07 0.30 1.32 Russia Mar : 0.56 0.80 0.65 1.15 1.85 0.00 0.16 Apr : 0.56 0.80 0.65 1.15 1.85 0.00 0.16 =============================================================================== 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 and South Africa. 5/ Eastern Europe, the EU-15 (includes intra-trade), Non-EU Western Europe, Mexico, Japan, South Korea, Taiwan, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-349-20 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 : =============================================================================== : : 1996/97 World 3/ : 49.94 380.42 16.96 379.74 20.20 50.62 United States : 0.81 5.46 0.32 3.23 2.50 0.87 Total foreign : 49.13 374.96 16.65 376.51 17.70 49.75 Major exporters 4/ : 12.37 117.28 0.00 106.54 12.46 10.65 Thailand : 0.85 13.66 0.00 8.55 5.26 0.71 Vietnam : 0.00 18.00 0.00 14.74 3.27 0.00 Major importers 5/ : 7.83 51.72 7.62 59.92 1.41 5.84 Indonesia : 2.62 32.08 0.81 33.98 0.00 1.53 Selected other : China : 21.73 136.57 0.33 132.13 0.94 25.56 Japan : 2.48 9.41 0.50 9.25 0.10 3.05 : : 1997/98 (Estimated) World 3/ : 50.62 386.23 24.33 384.53 26.97 52.32 United States : 0.87 5.98 0.29 3.45 2.78 0.90 Total foreign : 49.75 380.26 24.04 381.08 24.19 51.42 Major exporters 4/ : 10.65 120.55 0.00 104.24 15.54 11.41 Thailand : 0.71 15.05 0.00 8.60 6.37 0.79 Vietnam : 0.00 18.87 0.00 15.10 3.78 0.00 Major importers 5/ : 5.84 49.61 13.90 62.73 1.41 5.21 Indonesia : 1.53 31.50 6.08 36.91 0.00 2.20 Selected other : China : 25.56 140.49 0.26 135.85 3.73 26.72 Japan : 3.05 9.12 0.46 9.20 0.57 2.85 : : 1998/99 (Projected) World 3/ : March : 51.99 377.96 23.02 384.23 22.77 45.71 April : 52.32 378.39 23.07 384.47 22.89 46.25 United States : March : 0.90 6.14 0.29 3.56 2.74 1.03 April : 0.90 6.14 0.30 3.55 2.74 1.06 Total foreign : March : 51.08 371.82 22.73 380.67 20.02 44.69 April : 51.42 372.25 22.77 380.92 20.14 45.19 Major exporters 4/ : March : 11.41 118.45 0.00 105.45 13.85 10.56 April : 11.41 118.45 0.00 105.45 13.85 10.56 Thailand Mar : 0.79 14.30 0.00 8.70 5.50 0.89 Apr : 0.79 14.30 0.00 8.70 5.50 0.89 Vietnam Mar : 0.00 18.50 0.00 15.00 3.50 0.00 Apr : 0.00 18.50 0.00 15.00 3.50 0.00 Major importers 5/ : March : 4.90 52.87 10.57 61.83 1.12 5.39 April : 5.21 53.10 10.62 61.92 1.21 5.80 Indonesia Mar : 2.20 33.00 2.50 35.70 0.00 2.00 Apr : 2.20 33.00 2.50 35.70 0.00 2.00 Selected other : China Mar : 26.72 133.00 0.30 136.75 1.50 21.77 Apr : 26.72 133.00 0.30 136.75 1.50 21.77 Japan Mar : 2.85 8.15 0.75 9.20 0.40 2.15 Apr : 2.85 8.15 0.75 9.20 0.40 2.15 =============================================================================== 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/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Hong Kong, Indonesia, Iran, Iraq, Ivory Coast, Nigeria, Philippines, Saudi Arabia, the EU-15 (includes intra-trade) and Non-EU Western Europe. WASDE-349-21 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 1996/97 World 2/ : 17.51 132.18 36.39 115.48 135.71 36.90 13.46 United States : 4.99 64.78 0.24 39.08 42.43 24.00 3.59 Total foreign : 12.51 67.40 36.15 76.40 93.29 12.90 9.87 Major exporters 3/ : 10.02 41.27 1.20 31.49 33.82 11.26 7.40 Argentina : 4.22 11.20 0.30 11.05 11.56 0.75 3.40 Brazil : 5.80 27.30 0.90 19.90 21.64 8.36 4.00 Major importers 4/ : 1.76 16.40 27.43 31.32 43.25 0.56 1.78 EU-15 : 0.82 1.14 15.31 14.67 16.09 0.35 0.84 Japan : 0.55 0.15 5.04 3.81 5.11 0.00 0.64 China : 0.00 13.22 2.27 8.69 15.30 0.20 0.00 : : 1997/98 (Estimated) World 2/ : 13.46 156.96 40.33 127.07 149.51 40.44 20.80 United States : 3.59 73.18 0.14 43.46 47.78 23.69 5.44 Total foreign : 9.87 83.78 40.19 83.61 101.73 16.75 15.36 Major exporters 3/ : 7.40 53.69 2.80 33.40 36.52 14.37 13.00 Argentina : 3.40 19.20 1.45 13.00 13.77 3.23 7.05 Brazil : 4.00 31.50 1.35 19.90 22.15 8.75 5.95 Major importers 4/ : 1.78 18.26 29.93 35.37 47.35 0.93 1.68 EU-15 : 0.84 1.57 16.88 16.34 17.71 0.75 0.82 Japan : 0.64 0.15 4.87 3.72 5.02 0.00 0.63 China : 0.00 14.73 2.94 10.73 17.50 0.17 0.00 : : 1998/99 (Projected) World 2/ : March : 20.80 158.06 38.59 130.03 151.36 38.60 27.49 April : 20.80 157.75 38.51 129.60 152.28 38.53 26.25 United States : March : 5.44 75.03 0.16 42.46 46.61 21.23 12.79 April : 5.44 75.03 0.16 42.46 47.97 20.96 11.70 Total foreign : March : 15.36 83.04 38.42 87.57 104.75 17.37 14.70 April : 15.36 82.73 38.35 87.14 104.31 17.57 14.55 Major exporters 3/ : March : 13.00 53.30 1.75 37.90 40.50 15.20 12.35 April : 13.00 53.00 1.90 37.70 40.30 15.40 12.20 Argentina Mar : 7.05 19.20 0.75 16.00 16.77 3.30 6.93 Apr : 7.05 18.70 0.90 15.80 16.57 3.30 6.78 Brazil Mar : 5.95 31.00 1.00 21.30 23.03 9.50 5.42 Apr : 5.95 31.00 1.00 21.30 23.03 9.50 5.42 Major importers 4/ : March : 1.68 17.52 29.18 34.34 46.00 0.70 1.68 April : 1.68 17.51 29.05 34.21 45.86 0.70 1.68 EU-15 Mar : 0.82 1.74 15.75 15.65 16.90 0.52 0.88 Apr : 0.82 1.74 15.62 15.52 16.77 0.52 0.89 Japan Mar : 0.63 0.18 4.60 3.54 4.85 0.00 0.56 Apr : 0.63 0.16 4.60 3.54 4.84 0.00 0.55 China Mar : 0.00 13.80 3.45 10.30 17.07 0.18 0.00 Apr : 0.00 13.80 3.45 10.30 17.07 0.18 0.00 =============================================================================== 1/ Data based on local marketing years except 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, China, and EU, Mexico, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). WASDE-349-22 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 1996/97 World 2/ : 4.31 91.78 34.35 92.72 33.96 3.77 United States : 0.19 31.04 0.09 24.78 6.34 0.19 Total foreign : 4.12 60.75 34.26 67.93 27.61 3.58 Major exporters 3/ : 1.39 27.65 0.20 6.36 21.79 1.08 Argentina : 0.30 9.01 0.00 0.38 8.68 0.25 Brazil : 0.97 15.72 0.20 5.40 10.66 0.84 India : 0.11 2.92 0.00 0.58 2.45 0.00 Major importers 4/ : 1.43 19.63 23.32 38.65 4.54 1.20 EU-15 : 1.12 11.62 14.71 22.08 4.49 0.88 China : 0.00 6.95 3.60 10.53 0.02 0.00 : : 1997/98 (Estimated) World 2/ : 3.77 101.01 36.85 101.28 36.87 3.47 United States : 0.19 34.63 0.05 26.21 8.46 0.20 Total foreign : 3.58 66.38 36.80 75.08 28.40 3.28 Major exporters 3/ : 1.08 30.12 0.10 7.59 22.58 1.14 Argentina : 0.25 10.60 0.00 0.39 10.23 0.23 Brazil : 0.84 15.73 0.10 5.90 9.85 0.91 India : 0.00 3.80 0.00 1.30 2.50 0.00 Major importers 4/ : 1.20 22.43 25.04 43.15 4.50 1.02 EU-15 : 0.88 12.74 16.46 24.76 4.46 0.86 China : 0.00 8.58 4.20 12.76 0.02 0.00 : : 1998/99 (Projected) World 2/ : March : 3.47 102.86 38.37 102.25 38.44 4.03 April : 3.47 102.59 38.18 101.95 38.34 3.96 United States : March : 0.20 33.39 0.05 27.04 6.35 0.25 April : 0.20 33.39 0.05 27.04 6.35 0.25 Total foreign : March : 3.28 69.47 38.33 75.21 32.09 3.78 April : 3.28 69.20 38.14 74.92 31.98 3.71 Major exporters 3/ : March : 1.14 33.71 0.10 7.22 26.15 1.58 April : 1.14 33.54 0.10 7.22 26.05 1.52 Argentina Mar : 0.23 13.04 0.00 0.43 12.20 0.64 Apr : 0.23 12.88 0.00 0.43 12.10 0.58 Brazil Mar : 0.91 16.83 0.10 5.90 11.00 0.94 Apr : 0.91 16.83 0.10 5.90 11.00 0.94 India Mar : 0.00 3.84 0.00 0.89 2.95 0.00 Apr : 0.00 3.84 0.00 0.89 2.95 0.00 Major importers 4/ : March : 1.02 21.61 25.90 43.01 4.45 1.07 April : 1.02 21.50 25.46 42.47 4.45 1.07 EU-15 Mar : 0.86 12.19 17.83 25.66 4.29 0.93 Apr : 0.86 12.08 17.89 25.61 4.29 0.93 China Mar : 0.00 8.22 3.50 11.70 0.02 0.00 Apr : 0.00 8.22 3.00 11.20 0.02 0.00 =============================================================================== 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 India. 4/ Eastern Europe, China, EU, and Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand). WASDE-349-23 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 1996/97 World 2/ : 2.64 20.67 5.89 20.71 5.94 2.54 United States : 0.91 7.14 0.02 6.47 0.92 0.69 Total foreign : 1.72 13.52 5.86 14.24 5.02 1.85 Major exporters 3/ : 0.85 8.27 0.64 4.50 4.40 0.86 Argentina : 0.28 1.91 0.00 0.10 1.79 0.30 Brazil : 0.38 3.72 0.18 2.60 1.29 0.38 EU-15 : 0.20 2.63 0.46 1.80 1.32 0.17 Major importers 4/ : 0.37 2.05 1.93 3.80 0.08 0.47 China : 0.35 1.39 1.67 2.89 0.08 0.45 Pakistan : 0.02 0.01 0.21 0.21 0.00 0.02 : : 1997/98 (Estimated) World 2/ : 2.54 23.06 7.00 23.03 6.99 2.58 United States : 0.69 8.23 0.03 6.92 1.40 0.63 Total foreign : 1.85 14.82 6.97 16.10 5.59 1.95 Major exporters 3/ : 0.86 8.93 0.70 4.67 4.94 0.87 Argentina : 0.30 2.25 0.00 0.10 2.17 0.28 Brazil : 0.38 3.74 0.20 2.72 1.18 0.42 EU-15 : 0.17 2.94 0.50 1.84 1.59 0.17 Major importers 4/ : 0.47 2.64 2.11 4.54 0.08 0.60 China : 0.45 1.78 1.65 3.22 0.08 0.58 Pakistan : 0.02 0.00 0.23 0.23 0.00 0.02 : : 1998/99 (Projected) World 2/ : March : 2.58 23.57 7.02 23.68 7.11 2.38 April : 2.58 23.50 7.34 23.81 7.27 2.35 United States : March : 0.63 7.99 0.03 7.10 1.00 0.55 April : 0.63 7.99 0.03 7.03 1.07 0.54 Total foreign : March : 1.96 15.58 6.99 16.58 6.11 1.83 April : 1.95 15.52 7.31 16.78 6.20 1.80 Major exporters 3/ : March : 0.86 9.57 0.71 4.68 5.50 0.94 April : 0.87 9.51 0.70 4.68 5.50 0.90 Argentina Mar : 0.28 2.77 0.00 0.11 2.59 0.35 Apr : 0.28 2.73 0.00 0.11 2.59 0.32 Brazil Mar : 0.42 3.98 0.21 2.72 1.45 0.44 Apr : 0.42 3.98 0.21 2.72 1.45 0.44 EU-15 Mar : 0.16 2.81 0.50 1.85 1.46 0.15 Apr : 0.17 2.79 0.49 1.85 1.46 0.15 Major importers 4/ : March : 0.60 2.60 2.22 4.87 0.08 0.47 April : 0.60 2.60 2.22 4.87 0.08 0.47 China Mar : 0.58 1.72 1.65 3.42 0.08 0.45 Apr : 0.58 1.72 1.65 3.42 0.08 0.45 Pakistan Mar : 0.02 0.01 0.28 0.28 0.00 0.02 Apr : 0.02 0.01 0.28 0.28 0.00 0.02 =============================================================================== 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. WASDE-349-24 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : 3/ : : 3/ : : =============================================================================== : : 1996/97 : World : 35.82 89.56 29.01 89.08 26.83 0.25 38.25 United States : 2.61 18.94 0.40 11.13 6.87 -0.01 3.97 Total foreign : 33.22 70.61 28.61 77.95 19.96 0.25 34.28 Major exporters 5/ : 11.83 39.56 0.57 24.09 15.94 0.07 11.87 Pakistan : 1.36 7.32 0.28 7.00 0.12 0.02 1.82 India : 5.05 13.92 0.02 13.12 1.19 0.00 4.68 Central Asia 6/ : 2.02 6.57 0.01 1.10 6.03 0.00 1.47 Afr. Fr. Zone 7/ : 0.42 3.67 0.01 0.30 3.31 0.00 0.49 S. Hemis. 8/ : 2.48 5.35 0.23 1.30 4.41 0.02 2.33 Australia : 0.75 2.79 4/ 0.21 2.38 0.00 0.95 Argentina : 1.35 1.49 0.01 0.47 1.33 0.01 1.04 Major importers : 19.55 27.26 22.83 46.39 2.45 0.18 20.61 Brazil : 1.49 1.29 2.39 3.90 0.00 0.00 1.26 Mexico : 0.34 1.08 0.95 1.60 0.45 0.04 0.28 China : 13.20 19.30 3.61 21.35 0.01 0.00 14.76 Europe : 2.03 1.95 6.22 6.65 1.61 0.05 1.88 Turkey : 0.54 3.60 1.36 4.74 0.21 0.00 0.56 Selected Asia 9/ : 1.95 0.05 8.31 8.15 0.18 0.10 1.88 Indonesia : 0.12 0.02 2.15 2.14 0.00 0.05 0.10 South Korea : 0.55 4/ 1.50 1.48 0.07 0.00 0.51 : : 1997/98 (Estimated) : World : 38.25 91.60 26.66 88.30 26.54 0.25 41.41 United States : 3.97 18.79 0.01 11.35 7.50 0.04 3.89 Total foreign : 34.28 72.80 26.65 76.95 19.04 0.21 37.52 Major exporters 5/ : 11.87 39.86 0.52 23.88 15.84 0.07 12.47 Pakistan : 1.82 7.18 0.12 7.10 0.38 0.03 1.61 India : 4.68 12.26 0.15 12.68 0.31 0.00 4.10 Central Asia 6/ : 1.47 7.21 0.01 1.09 5.68 0.00 1.92 Afr. Fr. Zone 7/ : 0.49 4.32 4/ 0.31 3.59 0.00 0.91 S. Hemis. 8/ : 2.33 5.70 0.23 1.30 4.50 0.02 2.44 Australia : 0.95 3.06 4/ 0.21 2.71 0.00 1.09 Argentina : 1.04 1.35 0.03 0.45 1.00 0.00 0.97 Major importers : 20.61 29.71 20.59 45.63 1.90 0.14 23.25 Brazil : 1.26 1.75 1.88 3.40 0.00 0.00 1.49 Mexico : 0.28 0.98 1.60 1.95 0.25 0.04 0.63 China : 14.76 21.10 1.83 20.80 0.03 0.00 16.86 Europe : 1.88 2.13 6.16 6.75 1.36 0.05 2.02 Turkey : 0.56 3.70 1.45 5.00 0.10 0.00 0.61 Selected Asia 9/ : 1.88 0.05 7.66 7.73 0.16 0.05 1.65 Indonesia : 0.10 0.02 1.92 1.85 0.00 0.05 0.14 South Korea : 0.51 4/ 1.32 1.38 0.05 0.00 0.41 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ For foreign countries, reflects cotton lost or destroyed in the marketing channel; for the United States, reflects the difference between implicit stocks based on supply less total use and ending stocks based on Bureau of Census data. 3/ World trade includes estimated trade among the 12 countries of the former USSR and three Baltic states of 1.61 million bales in 1996/97 and 1.81 million in 1997/98. 4/ Less than 5,000 bales. 5/ Includes Egypt, and Syria in addition to the countries and regions listed. 6/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 7/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 8/ Argentina, Australia, Paraguay, South Africa, Tanzania, and Zimbabwe. 9/ Hong Kong, Indonesia, Japan, South Korea, Taiwan, and Thailand. WASDE-349-25 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : 3/ : : 3/ : : =============================================================================== : : 1998/99 (Projected) World : March : 41.51 85.29 24.64 85.01 23.93 0.32 42.17 April : 41.41 84.68 24.72 84.72 23.84 0.34 41.92 United States : March : 3.89 13.80 0.35 10.40 4.20 0.03 3.40 April : 3.89 13.91 0.35 10.40 4.20 0.05 3.50 Total foreign : March : 37.62 71.49 24.29 74.61 19.73 0.29 38.77 April : 37.52 70.77 24.37 74.32 19.64 0.29 38.42 Major exporters 5/ : March : 12.53 39.02 1.04 23.36 15.79 0.07 13.37 April : 12.47 38.39 1.29 23.23 15.72 0.07 13.12 Pakistan Mar : 1.61 6.90 0.40 7.20 0.10 0.03 1.58 Apr : 1.61 6.50 0.60 7.10 0.10 0.03 1.48 India Mar : 4.16 13.00 0.40 12.00 0.20 0.00 5.36 Apr : 4.10 12.90 0.45 12.00 0.15 0.00 5.30 Central Asia 6/Mar : 1.92 6.62 0.01 1.06 5.63 0.00 1.86 Apr : 1.92 6.62 0.01 1.06 5.63 0.00 1.86 Afr. Fr. Zn. 7/Mar : 0.91 4.04 4/ 0.33 3.67 0.00 0.95 Apr : 0.91 4.04 4/ 0.33 3.67 0.00 0.95 S. Hemis 8/ Mar : 2.44 5.91 0.18 1.31 4.75 0.02 2.45 Apr : 2.44 5.70 0.18 1.29 4.66 0.02 2.36 Australia Mar : 1.09 3.40 4/ 0.23 3.10 0.00 1.17 Apr : 1.09 3.20 4/ 0.23 3.00 0.00 1.07 Argentina Mar : 0.97 1.40 0.01 0.45 1.00 0.00 0.92 Apr : 0.97 1.40 0.01 0.43 1.00 0.00 0.95 Major importers Mar : 23.28 29.26 17.92 44.03 2.73 0.21 23.48 Apr : 23.25 29.26 17.78 43.94 2.73 0.21 23.40 Brazil Mar : 1.49 1.90 1.45 3.25 0.00 0.00 1.59 Apr : 1.49 1.90 1.45 3.25 0.00 0.00 1.59 Mexico Mar : 0.63 1.00 1.45 2.20 0.20 0.04 0.65 Apr : 0.63 1.00 1.45 2.20 0.20 0.04 0.65 China Mar : 16.86 20.20 0.50 20.00 0.70 0.00 16.86 Apr : 16.86 20.20 0.40 20.00 0.70 0.00 16.76 Europe Mar : 2.04 2.16 6.04 6.61 1.38 0.13 2.13 Apr : 2.02 2.16 5.90 6.47 1.38 0.13 2.11 Turkey Mar : 0.61 3.94 0.35 4.00 0.30 0.00 0.60 Apr : 0.61 3.94 0.40 4.00 0.30 0.00 0.65 Sel. Asia 9/ Mar : 1.65 0.05 8.13 7.98 0.15 0.05 1.65 Apr : 1.65 0.05 8.18 8.03 0.15 0.05 1.65 Indonesia Mar : 0.14 0.02 2.10 2.05 0.00 0.05 0.16 Apr : 0.14 0.02 2.10 2.05 0.00 0.05 0.16 S. Korea Mar : 0.41 4/ 1.40 1.40 0.05 0.00 0.36 Apr : 0.41 4/ 1.45 1.45 0.05 0.00 0.36 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ For foreign countries, reflects cotton lost or destroyed in the marketing channel; for the United States, reflects the difference between implicit stocks based on supply less total use and ending stocks based on Bureau of Census data. 3/ World trade includes estimated trade among the 12 countries of the former USSR and three Baltic states of 1.65 million bales. 4/ Less than 5,000 bales. 5/ Includes Egypt, and Syria in addition to the countries and regions listed. 6/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 7/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 8/ Argentina, Australia, Paraguay, South Africa, Tanzania, and Zimbabwe. 9/ Hong Kong, Indonesia, Japan, South Korea, Taiwan, and Thailand. WASDE-349-26 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 1997 : Annual : 25384 17244 43209 27271 5478 33258 76467 6473 156.1 : 1998 : I : 6215 4688 11039 6846 1286 8255 19294 1645 39.2 II : 6461 4429 11013 6990 1326 8457 19470 1644 40.8 III : 6638 4625 11380 6942 1302 8375 19755 1658 38.5 IV : 6339 5239 11702 7085 1367 8580 20282 1712 38.9 Annual : Mar Est : 25653 18981 45134 27858 5280 33661 78795 6659 157.4 Apr Est : 25653 18981 45134 27863 5281 33667 78801 6659 157.4 : 1999 : I *: 6415 4870 11407 7250 1200 8580 19987 1690 40.3 II *: 6500 4650 11259 7400 1325 8870 20129 1685 42.1 III *: 6525 4625 11257 7400 1375 8910 20167 1705 39.9 IV *: 6100 4750 10961 7400 1375 8905 19866 1750 39.8 Annual : Mar Proj : 25300 18875 44641 29400 5300 35240 79881 6830 160.8 Apr Proj : 25540 18895 44884 29450 5275 35265 80149 6830 162.2 =============================================================================== * 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 1997 : Annual : 66.32 54.30 58.8 64.9 81.2 13.34 : 1998 : I : 61.73 37.34 56.4 55.1 79.0 14.60 II : 64.16 42.87 61.0 59.1 66.5 13.73 III : 58.97 36.61 70.4 63.4 76.0 15.37 IV : 61.06 22.06 64.5 71.2 81.7 17.83 Annual : Mar Est : 61.48 34.72 63.1 62.2 75.8 15.38 Apr Est : 61.48 34.72 63.1 62.2 75.8 15.38 1999 : I *: 62.35 28.83 58.1 59.4 75.0 15.97 II *: 63-65 34-36 57-59 61-63 64-66 12.20-12.60 III *: 62-66 39-41 57-61 63-67 68-72 11.85-12.55 IV *: 63-69 39-43 55-59 69-75 77-83 13.10-14.10 Annual : Mar Proj : 62-66 35-37 57-61 62-65 71-75 13.75-14.35 Apr Proj : 63-66 35-37 57-59 63-66 71-74 13.30-13.80 =============================================================================== *Projection. 1/ Nebraska, Direct, 1100-1300 lbs. 2/ Iowa/So. Minn., Live equiv 51-52% lean, 3/Wholesale, 12-city average. 4/ 8-16 lbs, hens, Eastern Region. 5/ Grade A l New York, volume buyers. 6/ Price received by farmers for all milk. WASDE-349-27 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 : 1997 : 377 25490 2343 28210 2136 465 25609 66.9 1998 Est. Mar : 465 25760 2642 28867 2171 393 26303 68.1 Apr : 465 25760 2642 28867 2171 393 26303 68.1 1999 Proj. Mar : 393 25406 2705 28504 2380 370 25754 66.1 Apr : 393 25646 2705 28744 2380 370 25994 66.7 : PORK : 1997 : 366 17274 633 18273 1044 408 16821 48.7 1998 Est. Mar : 408 19011 704 20123 1229 586 18308 52.6 Apr : 408 19011 704 20123 1229 586 18308 52.6 1999 Proj. Mar : 586 18905 700 20191 1335 475 18381 52.3 Apr : 586 18925 700 20211 1335 475 18401 52.4 : TOTAL RED MEAT 4/ : 1997 : 759 43358 3059 47176 3185 895 43096 117.8 1998 Est. Mar : 895 45284 3458 49637 3406 996 45235 122.7 Apr : 895 45284 3458 49637 3406 996 45235 122.7 1999 Proj. Mar : 996 44790 3520 49306 3720 862 44724 120.2 Apr : 996 45033 3520 49549 3720 862 44967 120.9 : BROILERS : 1997 : 641 27041 5 27687 4664 607 22416 72.7 1998 Est. Mar : 607 27618 5 28230 4672 711 22847 73.5 Apr : 607 27612 5 28225 4673 711 22841 73.5 1999 Proj. Mar : 711 29141 4 29856 4425 750 24681 78.6 Apr : 711 29180 4 29895 4425 750 24720 78.8 : TURKEYS : 1997 : 328 5412 1 5741 606 415 4720 17.6 1998 Est. Mar : 415 5216 0 5631 445 304 4882 18.1 Apr : 415 5215 0 5630 446 304 4880 18.1 1999 Proj. Mar : 304 5235 1 5540 430 250 4859 17.8 Apr : 304 5209 1 5514 400 250 4863 17.8 : TOTAL POULTRY 5/ : 1997 : 975 32964 6 33944 5654 1029 27261 90.8 1998 Est. Mar : 1029 33358 5 34393 5543 1021 27829 91.9 Apr : 1029 33352 6 34387 5545 1021 27822 91.9 1999 Proj. Mar : 1021 34917 5 35943 5267 1005 29670 96.9 Apr : 1021 34930 5 35956 5200 1005 29750 97.3 : RED MEAT & POULTRY: 1997 : 1734 76322 3065 81120 8839 1924 70357 208.6 1998 Est. Mar : 1924 78642 3463 84030 8949 2017 73065 214.6 Apr : 1924 78636 3464 84024 8950 2017 73057 214.6 1999 Proj. Mar : 2017 79707 3525 85249 8987 1867 74394 217.1 Apr : 2017 79963 3525 85505 8920 1867 74717 218.2 ============================================================================ 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. WASDE-349-28 U.S. Egg Supply and Use =============================================================================== : : : 1998 Estimated : 1999 Projected : : :-----------------:----------------- Commodity : 1996 : 1997 : Mar : Apr : Mar : Apr =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 11.2 8.5 7.4 7.4 8.4 8.4 Production : 6350.7 6473.1 6658.7 6658.7 6830.0 6830.0 Imports : 5.4 6.9 5.8 5.8 4.0 4.0 Total supply : 6367.3 6488.5 6672.0 6672.0 6842.4 6842.4 : Use : Exports : 253.1 227.8 218.8 218.8 220.0 209.0 Hatching use : 863.8 894.8 922.7 922.7 970.0 970.0 Ending stocks : 8.5 7.4 8.4 8.4 5.0 5.0 Consumption : Total : 5241.8 5358.6 5522.1 5522.1 5647.4 5658.4 Per capita (number) : 236.8 240.0 245.2 245.2 248.4 249.1 =============================================================================== U.S. Milk Supply, Use and Prices =============================================================================== : : : 1997/98 Est 1/: 1998/99 Proj 1/ Commodity :1995/96:1996/97:-----------------:----------------- : 1/ : 1/ : Mar : Apr : Mar : Apr =============================================================================== MILK : Billion pounds Supply : Beg. commercial stocks 2/ : 4.6 4.9 5.9 5.9 5.8 5.8 Production : 153.8 155.9 156.5 156.5 160.1 161.3 Farm use : 1.5 1.4 1.4 1.4 1.3 1.3 Marketings : 152.3 154.5 155.2 155.2 158.8 160.0 Imports 2/ : 2.8 2.8 4.0 4.0 3.8 3.7 Total cml. supply 2/ : 159.7 162.2 165.1 165.1 168.4 169.5 Use : Commercial use 2/ 3/ : 154.7 155.6 158.6 158.6 162.3 163.4 Ending commercial stks. 2/: 4.9 5.9 5.8 5.8 5.8 5.8 CCC net removals: : Milkfat basis 4/ : 0.1 0.7 0.7 0.7 0.3 0.3 Skim-solids basis 4/ : 1.1 2.7 4.5 4.5 3.6 4.2 : : Dollars per cwt Prices rec'd. by farmers : Basic Formula (BFP) : 13.50 11.88 13.28 13.28 13.00- 12.75- : 13.40 13.05 All milk 5/ : 14.49 13.53 14.56 14.56 14.70- 14.45- : 15.10 14.75 : : Million pounds CCC product net removals 4/: Butter : 1 24 21 21 5 5 Cheese : 5 10 8 8 7 7 Nonfat dry milk : 84 222 368 368 295 350 Dry whole milk : 7 7 15 15 9 9 =============================================================================== 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. WASDE-349-29 Note: Tables on pages 29-31 present a 17-year record of the differences between the April projection and the final estimate. Using world wheat production as an example, changes between the April projection and the final estimate have averaged 2.4 million tons (0.5%) ranging from -6.8 to 6.5 million tons. The April projection has been below the estimate 10 times and above 7 times. Reliability of April Projections ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-97/98 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- WHEAT :Percent Million metric tons Number of years 2/ Production : World : 0.5 2.4 -6.8 6.5 10 7 U.S. : 0.1 0.0 0.1 0.1 8 3 Foreign : 0.6 2.5 -6.8 6.5 10 7 Exports : World : 2.1 2.4 -5.5 4.0 11 6 U.S. : 2.2 0.8 -0.8 2.1 6 11 Foreign : 3.1 2.4 -5.1 2.6 11 6 Domestic use : World : 0.7 3.4 -8.8 7.1 9 8 U.S. : 3.4 1.0 -1.6 2.2 8 9 Foreign : 0.7 3.1 -7.2 6.6 8 9 Ending stocks : World : 2.2 2.8 -8.9 3.9 11 5 U.S. : 6.3 1.1 -4.0 1.2 11 6 Foreign : 2.5 2.2 -8.5 4.7 12 4 : COARSE GRAINS 3/ : Production : World : 0.7 5.4 -14.7 13.3 12 5 U.S. : 0.1 0.1 -0.2 1.3 9 3 Foreign : 0.9 5.4 -14.7 13.3 12 5 Exports : World : 2.8 2.9 -6.4 6.2 9 8 U.S. : 4.8 2.4 -4.6 7.2 9 8 Foreign : 4.2 2.2 -5.8 4.0 11 6 Domestic use : World : 0.7 5.9 -12.6 20.0 5 12 U.S. : 2.2 3.8 -16.8 9.3 5 12 Foreign : 0.8 5.1 -10.7 17.3 8 9 Ending stocks : World : 6.1 7.9 -16.7 14.9 15 2 U.S. : 6.5 3.9 -12.1 6.9 9 8 Foreign : 7.8 5.0 -9.1 10.2 13 4 : RICE, milled : Production : World : 1.2 3.9 -9.0 10.8 14 3 U.S. : 0.9 0.0 -0.2 0.1 4 2 Foreign : 1.2 3.9 -9.0 10.8 14 3 Exports : World : 7.2 1.2 -4.4 1.1 14 3 U.S. : 4.9 0.1 -0.4 0.3 8 6 Foreign : 8.1 1.1 -4.3 1.1 14 3 Domestic use : World : 0.9 2.8 -8.7 2.4 13 4 U.S. : 5.2 0.1 -0.3 0.4 7 9 Foreign : 0.9 2.8 -8.8 2.6 13 4 Ending stocks : World : 5.8 2.1 -5.9 4.3 11 6 U.S. : 13.7 0.2 -0.3 0.4 9 8 Foreign : 6.3 2.1 -5.8 4.2 11 6 ------------------------------------------------------------------------------- 1/ Footnotes at end of table. CONTINUED WASDE-349-30 Reliability of April Projections (Continued) ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-97/98 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- SOYBEANS :Percent Million metric tons Number of years 2/ Production : World : 1.6 1.7 -4.0 2.3 10 7 U.S. : 1.1 0.6 -1.6 1.8 7 7 Foreign : 2.3 1.3 -4.6 2.3 13 4 Exports : World : 3.3 0.9 -2.1 1.6 9 8 U.S. : 4.5 0.9 -1.6 3.0 10 7 Foreign : 11.1 1.0 -2.9 2.1 9 8 Domestic use : World : 1.4 1.5 -3.4 2.6 11 6 U.S. : 1.7 0.6 -2.3 0.8 11 6 Foreign : 1.6 1.1 -2.7 2.3 10 7 Ending stocks : World : 10.2 1.8 -3.7 5.2 10 7 U.S. : 17.1 1.3 -2.6 4.7 8 9 Foreign : 10.3 1.1 -2.8 3.3 10 7 : COTTON : Million 480-pound bales Production : World : 1.1 0.9 -3.0 0.8 13 3 U.S. : 0.2 0.0 0.1 0.1 5 7 Foreign : 1.3 0.9 -3.0 0.8 12 4 Exports : World : 3.3 0.8 -2.8 1.1 9 8 U.S. : 2.9 0.2 -0.5 0.6 3 11 Foreign : 4.5 0.8 -3.4 1.2 9 8 Mill use : World : 1.4 1.1 -2.4 1.2 9 8 U.S. : 2.7 0.2 -0.6 0.2 12 3 Foreign : 1.4 1.0 -2.0 1.4 9 8 Ending stocks : World : 5.9 1.9 -3.9 3.3 10 7 U.S. : 7.2 0.3 -0.6 1.3 8 9 Foreign : 6.1 1.7 -4.1 2.7 9 8 ------------------------------------------------------------------------------- 1/ Final estimate for 1981/82-97/98 is defined as the first November estimate following the marketing year. 2/ May not total 17 if projections was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet and mixed grain. WASDE-349-31 Reliability of United States April Projections 1/ ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-97/98 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- CORN :Percent Million bushels Number of years 3/ Production : 0.1 3 -8 38 1 1 Exports : 4.9 83 -175 209 7 10 Domestic use : 2.2 126 -474 225 5 12 Ending stocks : 8.4 158 -470 358 11 6 : SORGHUM : Production : 0.1 0 0 4 0 2 Exports : 11.8 28 -70 72 11 5 Domestic use : 7.3 36 -158 77 9 8 Ending stocks : 31.3 36 -53 148 8 9 : BARLEY : Production : 0.4 2 -3 11 8 2 Exports : 6.9 5 -10 13 3 13 Domestic use : 3.9 16 -30 64 8 8 Ending stocks : 9.9 18 -52 24 12 5 : OATS : Production : 0.1 0 -2 1 3 1 Exports : 23.1 1 -1 3 3 4 Domestic use : 2.7 11 -26 24 6 10 Ending stocks : 8.9 12 -30 21 9 8 : : Thousand short tons SOYBEAN MEAL : Production : 2.1 637 -2153 617 13 4 Exports : 6.6 443 -1450 941 13 4 Domestic use : 1.6 365 -950 525 14 3 Ending stocks : 36.9 89 -214 208 6 10 : : Million pounds SOYBEAN OIL : Production : 2.2 309 -1058 310 14 3 Exports : 13.8 218 -500 564 8 9 Domestic use : 1.5 189 -562 175 12 4 Ending stocks : 15.1 221 -692 423 10 7 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 2.1 507 -561 1388 11 5 Pork : 2.5 393 -790 983 10 6 Broilers : 1.3 246 -404 584 10 6 Turkeys : 2.2 90 -176 175 9 7 : : Million dozen Eggs : 1.2 72 -120 143 12 4 : : Billion pounds Milk : 0.9 1.3 -3.2 3.1 8 8 ------------------------------------------------------------------------------- 1/ See pages 29 and 30 for record of reliability for U.S. wheat, rice, soybeans and cotton. 2/ Final estimate for 1981/82-97/98 is defined as the first November estimate following the marketing year. 3/ May not total 17 for crops and 15 for animal production if projection was the same as the final estimate. 4/ Calendar years 1983 thru 1997 for meats and eggs; October-September years 1982/83 thru 1996/97 for milk. Final for animal products is defined as latest annual production estimate published by NASS. ----- END OF FILE -----