WASDE-352 July 12, 1999 NOTE: The report adopts U.S. area, yield, and production forecasts for winter wheat, durum, other spring wheat, barley, and oats released today by the National Agricultural Statistics Service (NASS). Yields for other crops reflect time series analysis and judgment. Area estimates reflect the June 30 NASS Acreage report. Survey-based area, yield, and production forecasts reported by NASS will be adopted in the August 12 issue of this report. WHEAT: Projected U.S. 1999/2000 ending stocks of wheat are up 48 million bushels from last month as a larger crop and increased imports more than offset lower beginning stocks and larger domestic use. Forecast wheat production is up 91 million bushels from last month as higher yields more than offset lower harvested area. The reported June 1 carryin stocks are 24 million bushels below last month's forecast and feed and residual use is up 25 million bushels from last month. The 1999/2000 projected price range is down 15 cents on each end to $2.45 to $2.95 because of the higher stocks and lower than expected early-season prices. Projected global 1999/2000 production is up from last month as larger crops in China, the United States, the EU, and Australia more than offset reductions for Russia, Iran, Turkey, Ukraine, Tunisia, and Algeria. Most of the increase in projected global ending stocks is in China, the EU and the United States. Smaller exports for Turkey and India are largely offset by bigger prospective exports for Australia, Argentina, and Kazakstan. Smaller prospective imports by China and a couple of other countries are largely offset by increases in several countries, especially Iran, Tunisia, and the EU. COARSE GRAINS: Projected 1999/2000 ending stocks of corn are raised 212 million bushels this month to 1,994 million bushels, the highest ending stocks since the 2,113 million bushels of 1992/93. Projected corn production is up 205 million bushels because crop conditions indicate prospective yields are higher than the trend yields used last month. Also, forecast carryin stocks are up 17 million bushels. Total use for 1999/2000 is up only 10 million bushels, as a 75-million-bushel increase in exports is largely offset by lower domestic use. The projected price range for corn is down 15 cents on each end to $1.65 to $2.05 per bushel. U.S. 1998/99 corn ending stocks are up 17 million bushels from last month, as larger exports are more than offset by reductions in domestic use. The estimated season- average price of $1.95 is down 5 cents from the midpoint of last month's forecast price range. Global 1999/2000 coarse grain production is up this month as larger crops in the United States and China more than offset reductions in Russia, Eastern Europe, and several other countries. The United States and China account for most of an increase from last month in projected 1999/2000 global ending stocks. RICE: U.S. production in 1999/2000 is projected at a record 211 million cwt, up 4 million cwt from last month and an increase of 23 million cwt from 1998/99. Planted area is estimated at 3.6 million acres as reported in the NASS Acreage report, up 20,000 acres from last month and from the NASS Prospective Plantings report. Yield is adjusted slightly higher because of a change in the distribution of reported area by State and type of rice. Combined medium/short-grain production is raised 5 million cwt from last month, while long-grain rice production is down 1 million cwt. U.S. rice import projections for both 1998/1999 and 1999/2000 are raised slightly. Ending stocks in 1999/2000 are projected at 55.6 million cwt, up 4.5 million cwt from last month and an increase of nearly 25 million cwt from 1998/99. The 1999/2000 season- average price range is lowered $0.50 per cwt on each end to $5.50-$6.50 per cwt. In addition, the season-average price for 1998/99 is lowered $0.05 per cwt on the low end and $0.15 per cwt on the high end to $8.70-$8.80 per cwt. Global rice production in 1999/2000 is projected at a record 390 million metric tons, nearly unchanged from last month's largely trend-based projection, but an increase of 7 million metric tons from 1998/99. World consumption in 1999/2000 is projected at a record of nearly 393 million metric tons, as global consumption exceeds output for the second consecutive year. As a result, world stocks will decline to 47 million metric tons. OILSEEDS: U.S. oilseed production and supply prospects for 1999/2000 are boosted this month. USDA's June acreage survey indicated more soybean and cotton acres planted with small declines for peanuts and minor oilseed crops compared to a year earlier. Minor oilseed acreage was substantially below March intentions, mainly because of excessive moisture in the upper Midwest. Total U.S. oilseed production is projected at a record 91.1 million metric tons, led by gains in soybeans. Soybean production is projected at a record 2,935 million bushels (79.9 million tons), more than 6 percent above last year, using a trend yield of 40 bushels per acre. As of early July, growing conditions are very similar to 1994/95 when yields set a record of 41.4 bushels per acre. Despite larger production than indicated last month, ending stocks of soybeans and other oilseeds are little changed, with projected soybean stocks of 590 million bushels slightly below a month ago. Improved U.S. soybean crush and export prospects, mainly for 1998/99, cut carryin stocks by 35 million bushels to 395 million bushels. Domestic meal use prospects are raised for 1998/99 and 1999/2000 because of stronger than anticipated feed demand. U.S. soybean and soybean meal exports in 1998/99 are increased to reflect dwindling soybean export supplies in South America. Lower new-crop supply prospects for that region bode well for U.S. exports in 1999/2000. Upward revisions this month for Southeast Asia's palm oil crops and an apparent shift in China's import policies favoring oilseeds rather than products have sharply curtailed U.S. soybean oil export prospects in 1999/2000. Larger global rapeseed crops are also likely to offer stiff competition for soybean oil exports. U.S. soybean oil exports are projected to drop to 2 billion pounds, well below the recent 1997/98 peak of 3.1 billion pounds. Sharply lower prices and rising U.S. consumer incomes bode well for domestic consumption, projected to rise by about 3 percent to 15.75 billion pounds. Nevertheless, 1999/2000 ending stocks are projected to reach a record 2.47 billion pounds. The U.S. soybean season-average producer price for 1999/2000 is lowered slightly this month to $3.90 to $4.70 per bushel, the lowest since the early 1970's. The soybean meal price range is projected at $125 to $145 per short ton, sharply below last year but slightly improved from last month. Soybean oil, projected at 15.0 to 18.0 cents per pound, is off sharply from last month and last year and would be the lowest since 1986/87. Global oilseed production is projected at a record 301 million tons, up 3 million tons from last month and 9.3 million tons from last year. U.S. production, at 91.1 million tons, is up 6.2 million tons from 1998/99 and accounts for much of the gain. Foreign production is forecast at 209.9 million tons, up 3.2 million tons or 1.5 percent for the year. Foreign gains are concentrated in rapeseed and in Southeast Asia's crops of copra and palm kernel. World palm oil production is projected to reach a record level at 20.6 million tons, or 7 percent above 1998/99, as tree yields continue to recover from El Nino drought conditions in 1997/98 and the early part of 1998/99. Record global rapeseed production, projected at 13.4 million tons, includes significant gains in almost all major producing countries except Canada, where a modest decline to 7.3 million tons is forecast. China, the EU, Australia, and India are expected to have record rapeseed crops. Large global supplies, sharply lower oilseed product prices, and likely improvement in economies in Asia, Latin America, and East Europe bode well for consumption growth for both protein meals and vegetable oils in 1999/2000. Some improvement is anticipated in China's consumption as well following the slowdown in 1998/99, while EU consumption will remain strong. Both global protein meal use and vegetable oil disappearance are projected to grow by 5 percent. SUGAR: Projected fiscal-year 1999/2000 U.S. sugar production is increased 60,000 short tons, raw value, to 8.46 million tons this month based on higher sugarbeet area forecast in the NASS Acreage report. Projected deliveries are increased 100,000 tons to 10.25 million tons, based on revised trend increases. Sugar production in fiscal year 1998/99 is estimated at 8.23 million tons, up 1 percent from last month and 2.6 percent above 1997/98. Beet sugar production is increased 100,000 tons, based on larger than expected output in May. Exports and domestic consumption are increased 25,000 tons and 50,000 tons, respectively, due to larger than expected movement in April and May. The ending stocks-to-use ratio is 14.5 percent, compared with last month's 14.3 percent. LIVESTOCK, POULTRY, AND DAIRY: The beef production forecast for 1999 is increased this month as the large number of animals placed on feed early in the year are marketed. Slaughter is estimated to remain above last year through the third quarter and continued heavy weights will boost 1999 production over 1998. Large supplies of meat are expected to pressure cattle prices; forecast cattle prices are lowered from last month. The release of USDA's Cattle report on July 16 will provide a basis for reevaluating beef production into 2000. Farrowings in the second quarter and farrowing intentions for remainder of the year as reported in the June 25 Hogs and Pigs report are below a year earlier but higher than anticipated, prompting increases in forecast pork production for 1999 and 2000. Stocks are forecast to rise from their already high levels. Increased supplies will pressure prices; consequently, forecasts for hog prices are reduced from last month. Poultry supply and use estimates are little changed from last month. Demand for dairy products remains strong and the supply and use estimates are little changed from last month. Milk price forecasts are raised to reflect recent strength in product prices. COTTON: U.S. cotton projections for 1999/2000 include larger production, exports, and ending stocks relative to last month. The production forecast is raised 4 percent based on larger area reported in the June 30 Acreage report. Exports are raised slightly due to the larger available supply. Ending stocks are now projected at 6.0 million bales, nearly 37 percent of total use, and the largest since 1988/89. World 1999/2000 cotton production and ending stocks are higher relative to last month. In addition to the higher U.S. production forecast, this month's foreign production is projected to be above, rather than below, 1998/99. While foreign area is down from last year, individual country forecasts show larger total foreign area than was anticipated last month. These area estimates, combined with generally favorable weather conditions throughout the northern hemisphere, result in a higher foreign production forecast. With world consumption and trade estimates revised up slightly, world ending stocks are projected at 43.5 million bales, the largest since 1985/86. 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 5. APPROVED: MICHAEL V. DUNN ACTING SECRETARY OF AGRICULTURE * * * * * * * * * * * The next issue of this report will be released 8:30 a.m. ET on August 12, 1999. ELECTRONIC ACCESS AND SUBSCRIPTIONS Download this report in ascii text or pdf (Adobe Acrobat) format at ww.usda.gov/oce/waob/wasde/wasde.htm. Acrobat files can be viewed or printed in their original form, page by page. This report and other USDA releases are posted electronically by release date at www.usda.gov/news/calindex.htm. To view a report, click the month of release, then the report title. For instructions on retrieving the WASDE report by fax, call (202) 694-5700 from the handset of a fax machine and follow voice prompts to retrieve document 66900. For information on e-mail subscriptions or other questions about the WASDE report, call (202) 720-5447. Mail subscriptions cost $50.00; 2- and 3-year subscriptions are available. Call 1-800-999-6779 or 703-605-6220, 8:30 a.m.-5:00 p.m. ET, or write ERS-NASS, 5285 Port Royal Road, Springfield, Virginia 22161. This report is also available from the Government Printing Office. Call 202-783-3238 or write Superintendent of Documents, GPO, Washington, D.C. 20402. For GPO subscription inquires, call 202-512-1806. WASDE-352-6 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/ : 1997/98 : 1,875.99 2,169.15 250.02 1,840.84 328.30 1998/99 (Est.) : 1,848.95 2,177.25 245.47 1,847.40 329.85 1999/00 (Proj.) : June : 1,840.08 2,168.45 252.35 1,860.31 308.14 July : 1,849.86 2,179.71 252.35 1,861.56 318.15 Wheat : 1997/98 : 609.90 723.75 122.75 584.57 139.18 1998/99 (Est.) : 588.02 727.19 117.36 590.68 136.52 1999/00 (Proj.) : June : 570.10 707.76 121.46 589.79 117.97 July : 575.38 711.90 121.23 588.48 123.42 Coarse grains 4/ : 1997/98 : 880.48 1,008.70 100.30 873.17 135.52 1998/99 (Est.) : 878.12 1,013.64 104.27 870.00 143.64 1999/00 (Proj.) : June : 880.21 1,022.46 107.39 881.52 140.95 July : 884.56 1,028.20 107.87 880.52 147.68 Rice, milled : 1997/98 : 385.61 436.70 26.97 383.10 53.60 1998/99 (Est.) : 382.82 436.42 23.84 386.72 49.70 1999/00 (Proj.) : June : 389.76 438.22 23.50 389.00 49.22 July : 389.92 439.61 23.25 392.56 47.05 : : United States Total grains 3/ : 1997/98 : 333.94 379.70 76.35 244.63 58.72 1998/99 (Est.) : 347.10 411.92 85.76 249.21 76.96 1999/00 (Proj.) : June : 330.14 412.51 86.80 249.82 75.89 July : 339.09 421.91 88.70 250.08 83.12 Wheat : 1997/98 : 67.53 82.19 28.32 34.21 19.66 1998/99 (Est.) : 69.41 91.80 28.58 37.50 25.72 1999/00 (Proj.) : June : 61.01 89.96 31.30 35.11 23.55 July : 63.49 91.93 31.30 35.79 24.85 Coarse grains 4/ : 1997/98 : 260.43 290.37 45.25 206.97 38.15 1998/99 (Est.) : 271.55 312.76 54.41 208.13 50.23 1999/00 (Proj.) : June : 262.38 314.47 52.76 211.05 50.67 July : 268.70 321.75 54.66 210.63 56.46 Rice, milled : 1997/98 : 5.98 7.13 2.78 3.45 0.90 1998/99 (Est.) : 6.14 7.36 2.78 3.58 1.01 1999/00 (Proj.) : June : 6.76 8.08 2.74 3.67 1.67 July : 6.89 8.23 2.74 3.67 1.81 =============================================================================== 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-352-7 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/ : 1997/98 : 1,542.05 1,789.45 173.67 1,596.21 269.59 1998/99 (Est.) : 1,501.85 1,765.33 159.71 1,598.20 252.90 1999/00 (Proj.) : June : 1,509.93 1,755.94 165.55 1,610.49 232.25 July : 1,510.77 1,757.80 163.65 1,611.47 235.03 Wheat : 1997/98 : 542.36 641.56 94.44 550.36 119.52 1998/99 (Est.) : 518.61 635.40 88.79 553.17 110.80 1999/00 (Proj.) : June : 509.10 617.81 90.16 554.69 94.42 July : 511.89 619.97 89.94 552.69 98.58 Coarse grains 5/ : 1997/98 : 620.05 718.33 55.05 666.21 97.37 1998/99 (Est.) : 606.57 700.88 49.86 661.88 93.41 1999/00 (Proj.) : June : 617.84 707.99 54.64 670.47 90.28 July : 615.86 706.45 53.21 669.89 91.21 Rice, milled : 1997/98 : 379.64 429.57 24.18 379.65 52.70 1998/99 (Est.) : 376.68 429.06 21.06 383.15 48.69 1999/00 (Proj.) : June : 383.00 430.14 20.76 385.33 47.56 July : 383.02 431.39 20.51 388.89 45.24 =============================================================================== 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 1997/98 : 91.58 129.75 26.64 88.45 40.76 1998/99 (Est.) : 84.36 125.12 23.52 85.00 41.01 1999/00 (Proj.) : June : 87.00 128.08 25.00 86.50 41.58 July : 89.24 130.25 25.34 86.88 43.45 : United States 1997/98 : 18.79 22.78 7.50 11.35 3.89 1998/99 (Est.) : 13.92 18.21 4.15 10.45 3.60 1999/00 (Proj.) : June : 18.00 21.65 5.50 10.60 5.50 July : 18.70 22.35 5.70 10.60 6.00 : Foreign 3/ 1997/98 : 72.79 106.98 19.14 77.10 36.88 1998/99 (Est.) : 70.44 106.92 19.37 74.55 37.41 1999/00 (Proj.) : June : 69.00 106.43 19.50 75.90 36.08 July : 70.54 107.90 19.64 76.28 37.45 =============================================================================== 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-352-8 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 : 1997/98 : 286.25 303.36 53.82 227.25 24.61 1998/99 (Est.) : 291.56 316.17 55.03 235.56 28.86 1999/00 (Proj.) : June : 298.00 327.55 July : 301.09 329.96 56.48 245.83 32.43 Oilmeals : 1997/98 : 155.38 161.24 52.29 155.38 5.63 1998/99 (Est.) : 161.44 167.08 54.49 159.92 6.06 1999/00 (Proj.) : June : July : 168.23 174.29 56.02 167.28 5.93 Vegetable Oils : 1997/98 : 76.37 83.81 29.88 75.93 7.00 1998/99 (Est.) : 80.78 87.78 30.90 80.17 7.01 1999/00 (Proj.) : June : July : 85.22 92.23 32.12 84.32 7.52 : : United States Oilseeds : 1997/98 : 83.10 88.42 24.45 48.88 6.44 1998/99 (Est.) : 84.92 92.01 22.23 47.61 12.02 1999/00 (Proj.) : June : 89.65 103.01 26.48 49.87 17.60 July : 91.09 103.66 26.37 50.51 17.59 Oilmeals : 1997/98 : 37.42 39.00 8.70 30.00 0.30 1998/99 (Est.) : 36.36 37.91 6.40 31.22 0.29 1999/00 (Proj.) : June : 38.08 39.87 7.65 31.94 0.28 July : 38.63 40.34 7.76 32.29 0.30 Vegetable Oils : 1997/98 : 9.60 12.22 2.13 9.10 0.99 1998/99 (Est.) : 9.39 11.79 1.76 9.05 0.99 1999/00 (Proj.) : June : 9.87 12.27 1.68 9.43 1.16 July : 9.98 12.56 1.64 9.48 1.44 : : Foreign 3/ Oilseeds : 1997/98 : 203.15 214.94 29.38 178.36 18.16 1998/99 (Est.) : 206.64 224.15 32.80 187.95 16.84 1999/00 (Proj.) : June : 208.35 224.54 July : 210.00 226.30 30.11 195.32 14.84 Oilmeals : 1997/98 : 117.96 122.24 43.60 125.38 5.34 1998/99 (Est.) : 125.09 129.17 48.10 128.70 5.77 1999/00 (Proj.) : June : July : 129.60 133.95 48.26 134.99 5.63 Vegetable Oils : 1997/98 : 66.77 71.59 27.75 66.83 6.01 1998/99 (Est.) : 71.39 75.98 29.14 71.12 6.02 1999/00 (Proj.) : June : July : 75.24 79.67 30.49 74.83 6.08 =============================================================================== 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-352-9 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :============================== : : Est. : June July =============================================================================== Area : Million acres Planted : 70.4 65.9 63.0 * 62.9 Harvested : 62.8 59.0 55.1 * 54.6 Yield per harvested : Bushels acre : 39.5 43.2 40.7 * 42.7 : Million bushels Beginning stocks : 444 722 969 945 Production : 2,481 2,550 2,242 2,333 Imports : 95 100 95 100 Supply, total : 3,020 3,373 3,305 3,378 Food : 917 915 925 925 Seed : 93 81 90 90 Feed and residual : 248 382 275 300 Domestic, total : 1,257 1,378 1,290 1,315 Exports : 1,040 1,050 1,150 1,150 Use, total : 2,298 2,428 2,440 2,465 Ending stocks : 722 945 865 913 CCC inventory : 94 128 Free stocks : 628 817 Avg. farm price ($/bu) 2/ : 3.38 2.65 2.60- 3.10 2.45- 2.95 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 1998/99 (estimated) : Million bushels Beginning stocks : 307 220 80 90 26 722 Production : 1,182 487 443 298 141 2,550 Supply, total 3/ : 1,491 762 523 398 199 3,373 Domestic use : 597 284 284 113 101 1,378 Exports : 460 245 103 198 44 1,050 Use, total : 1,057 529 387 311 145 2,428 Ending stocks, total : 434 233 136 87 55 945 : 1999/00 (projected) : Beginning stocks : 434 233 136 87 55 945 Production : 1,031 475 443 251 132 2,333 Supply, total 3/ : 1,468 763 579 349 219 3,378 Domestic use : 581 248 318 81 87 1,315 Exports : 505 290 125 190 40 1,150 Use, total : 1,086 538 443 271 127 2,465 Ending stocks, total : 382 225 136 78 92 913 =============================================================================== 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. * For June, winter wheat harvested acreage and yield reported in June 11 Crop Production. Harvested acres and yield for spring wheat (including durum) projected using harvested-to-planted ratios and yields by State for 1996-1998. For July: Area planted, area harvested, yield and production as reported in July Crop Production report. WASDE-352-10 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :============================== : : Est. : June July =============================================================================== FEED GRAINS : Area : Million acres Planted : 101.4 101.1 97.0 * 96.6 * Harvested : 90.8 89.0 86.8 * 86.9 * Yield per harvested : Metric tons acre : 2.87 3.05 3.02 3.09 : Million metric tons Beginning stocks : 27.0 38.1 49.3 50.2 Production : 260.2 271.2 262.1 268.4 Imports : 2.8 3.0 2.7 2.7 Supply, total : 290.0 312.4 314.1 321.3 Feed and residual : 154.8 154.7 155.5 155.2 Food, seed & industrial : 51.8 53.1 55.2 55.1 Domestic, total : 206.6 207.8 210.7 210.3 Exports : 45.3 54.4 52.8 54.7 Use, total : 251.9 262.2 263.4 264.9 Ending stocks, total : 38.1 50.2 50.6 56.4 CCC inventory : 0.1 0.4 Free stocks : 38.0 49.8 Outstanding loans : 8.5 11.2 : CORN : Area : Million acres Planted : 79.5 80.2 78.2 * 77.6 * Harvested : 72.7 72.6 71.6 * 71.0 * Yield per harvested : Bushels acre : 126.7 134.4 131.8 * 135.8 * : Million bushels Beginning stocks : 883 1,308 1,727 1,744 Production : 9,207 9,761 9,445 9,650 Imports : 9 20 10 10 Supply, total : 10,099 11,089 11,182 11,404 Feed and residual : 5,505 5,575 5,625 5,575 Food, seed & industrial : 1,782 1,845 1,925 1,910 Domestic, total : 7,287 7,420 7,550 7,485 Exports : 1,504 1,925 1,850 1,925 Use, total : 8,791 9,345 9,400 9,410 Ending stocks, total : 1,308 1,744 1,782 1,994 CCC inventory : 4 15 Free stocks : 1,304 1,729 Outstanding loans : 310 425 Avg. farm price ($/bu) 2/ : 2.43 1.95 1.80- 2.20 1.65- 2.05 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. * For June-- Corn: Harvested acres projected by using relationship between planted and harvested for 1995-97. Corn projected yield is derived from trend over 1960-98 period. For July: Area planted and harvested of corn as reported in June Acreage report. Corn projected yield is the trend yield adjusted for crop conditions. WASDE-352-11 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :============================== : : Est. : June July =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 10.1 9.6 8.8 * 9.0 * Area harv. (mil. acres) : 9.2 7.7 7.7 * 8.3 * Yield (bushels/acre) : 69.2 67.3 69.0 * 69.0 * Beginning stocks : 47 49 59 64 Production : 634 520 530 573 Imports : 0 0 0 0 Supply, total : 681 569 589 637 Feed and residual : 365 270 275 315 Food, seed & industrial : 55 45 45 55 Total domestic : 420 315 320 370 Exports : 212 190 200 200 Use, total : 632 505 520 570 Ending stocks, total : 49 64 69 67 Avg. farm price ($/bu) 2/ : 2.21 1.70 1.50- 1.90 1.35- 1.75 : BARLEY : Area planted (mil. acres) : 6.7 6.3 5.3 * 5.2 * Area harv. (mil. acres) : 6.2 5.9 4.8 * 4.9 * Yield (bushels/acre) : 58.1 60.1 60.6 * 60.3 * Beginning stocks : 109 119 130 141 Production : 360 352 292 295 Imports : 40 30 35 35 Supply, total : 510 502 457 471 Feed and residual : 144 161 135 135 Food, seed & industrial : 172 170 172 172 Total domestic : 316 331 307 307 Exports : 74 30 30 30 Use, total : 390 361 337 337 Ending stocks, total : 119 141 120 134 Avg. farm price ($/bu) 2/ : 2.38 1.95 1.85- 2.25 1.60- 2.00 : OATS : Area planted (mil. acres) : 5.1 4.9 4.7 * 4.7 * Area harv. (mil. acres) : 2.8 2.8 2.7 * 2.6 * Yield (bushels/acre) : 59.5 60.4 59.6 * 61.1 * Beginning stocks : 67 74 74 81 Production : 167 167 160 161 Imports : 98 105 100 100 Supply, total : 332 346 334 343 Feed and residual : 161 168 165 165 Food, seed & industrial : 95 95 96 96 Total domestic : 256 263 261 261 Exports : 2 2 2 2 Use, total : 258 265 263 263 Ending stocks, total : 74 81 71 80 Avg. farm price ($/bu) 2/ : 1.60 1.15 0.95- 1.35 0.90- 1.30 =============================================================================== 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. * For June-- Sorghum and barley: Harvested acres projected by using relationship between planted and harvested for 1995-97 for sorghum and 1996-98 for barley. For sorghum, barley, and oats projected yield derived from simple linear trend fit over 1960-98 period. Oats: Harvested acres reported in March 31, Prospective Plantings. For July-- Sorghum: Area planted and area harvested as reported in the June Acreage report. Projected yield derived from simple linear trend fit over 1960-98 period Barley and oats: Area, yield and production as reported in Crop Production. WASDE-352-12 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :============================== : : Est. : June July =============================================================================== TOTAL : Area : Million acres Planted : 3.13 3.35 3.58 * 3.60 * Harvested : 3.10 3.32 3.55 * 3.58 * Yield per harvested : Pounds acre : 5,897 5,669 5,831 * 5,902 * : Million hundredweight Beginning stocks 2/ : 27.2 27.7 30.7 30.9 Production : 183.0 188.1 207.0 211.0 Imports : 9.2 10.0 10.0 10.3 Supply, total : 219.4 225.7 247.7 252.2 Domestic & residual 3/ : 106.5 109.8 112.6 112.6 Exports, total 4/ : 85.2 85.0 84.0 84.0 Rough : 26.1 26.0 15.0 15.0 Milled (rough equiv.) : 59.1 59.0 69.0 69.0 Use, total : 191.7 194.8 196.6 196.6 Ending stocks : 27.7 30.9 51.1 55.6 Avg. farm price ($/cwt) 5/ : 9.70 8.70- 8.80 6.00- 7.00 5.50- 6.50 : LONG GRAIN : Harvested acres (mil.) : 2.31 2.61 Yield (pounds/acre) : 5,391 5,430 Beginning stocks : 14.1 14.3 22.2 22.5 Production : 124.5 141.6 150.0 149.0 Supply, total 6/ : 146.6 164.8 181.0 180.5 Domestic & Residual 3/ : 62.5 71.8 73.5 73.5 Exports 7/ : 69.7 70.5 67.0 67.0 Use, total : 132.2 142.3 140.5 140.5 Ending stocks : 14.3 22.5 40.5 40.0 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.79 0.71 Yield (pounds/acre) : 7,369 6,548 Beginning stocks : 12.1 12.3 7.4 7.4 Production : 58.5 46.4 57.0 62.0 Supply, total 6/ : 71.8 59.9 65.6 70.6 Domestic & Residual 3/ : 44.0 38.0 39.1 39.1 Exports 7/ : 15.5 14.5 17.0 17.0 Use, total : 59.5 52.5 56.1 56.1 Ending stocks : 12.3 7.4 9.5 14.5 =============================================================================== 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. * For June: Planted acres reported in March 31, 1999 Prospective Plantings. Harvested acres projected using harvested-to-planted ratios by State and type of rice for 1994-98. For July: Area planted and area harvested as reported in June Acreage report. For June and July: Projected yield is calculated using the olympic average (high and low years excluded) for 1994-98 weighted by State and type of rice. For July, yield is adjusted slightly higher because of the change in the distribution of area by State and type of rice reported in June Acreage report. WASDE-352-13 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :=============================== : : Est. : June July =============================================================================== SOYBEANS: : Million acres Area : Planted : 70.0 72.4 73.1 * 74.2 Harvested : 69.1 70.8 72.0 * 73.3 : : Bushels Yield per harvested : acre : 38.9 38.9 40.0 * 40.0 : : Million bushels : Beginning stocks : 132 200 430 395 Production : 2,689 2,757 2,880 2,935 Imports : 5 4 5 4 Supply, total : 2,826 2,961 3,315 3,334 Crushings : 1,597 1,580 1,635 1,655 Exports : 870 785 930 930 Seed : 86 89 86 89 Residual : 72 112 _3/ 69 70 Use, total : 2,626 2,566 2,720 2,744 Ending stocks : 200 395 595 590 Avg. farm price ($/bu) 2/ : 6.47 5.00 3.95- 4.75 3.90 - 4.70 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,520 1,382 1,295 1,545 Production : 18,143 17,750 _4/ 18,395 18,620 Imports : 60 63 55 55 Supply, total : 19,724 19,195 19,745 20,220 Domestic : 15,264 15,350 15,750 15,750 Exports : 3,077 2,300 2,000 2,000 Use, total : 18,341 17,650 17,750 17,750 Ending stocks : 1,382 1,545 1,995 2,470 Average price (c/lb) 2/ : 25.84 20.00 16.50- 15.00- : 19.50 18.00 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 210 218 275 275 Production : 38,171 37,312 _4/ 38,825 39,350 Imports : 56 45 50 50 Supply, total : 38,437 37,575 39,150 39,675 Domestic : 28,889 30,500 30,700 31,100 Exports : 9,330 6,800 8,200 8,300 Use, total : 38,219 37,300 38,900 39,400 Ending stocks : 218 275 250 275 Average price ($/s.t.) 2/ : 185.54 135.00 120.00- 125.00- : 140.00 145.00 =============================================================================== Note: Totals may not add due to rounding. 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 May, coupled with USDA's June 1 stocks estimate, indicate an above-average residual. 4/ Based on October year crush estimate of 1,575 million bushels. * Planted and harvested acres for June is from the March Prospective Plantings report and, for July, from the June 30 Acreage report. Projected yield based on U.S. yield trends since the mid-1980's. WASDE-352-14 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 1999/** Projections Item : 1997/98 : 1998/99 :====================== : : Estimate : June July ====================================================================== : 1,000 short tons, raw value Beginning stocks 2/ : 1,488 1,679 1,467 1,492 Production 2/3/ : 8,020 8,226 8,400 8,460 Beet sugar : 4,389 4,375 4,530 4,590 Cane sugar 4/ : 3,631 3,851 3,870 3,870 Imports 2/ : 2,163 1,887 NA NA TRQ 5/ : 1,729 1,247 NA NA Other 6/ : 434 640 725 725 Total supply : 11,671 11,792 NA NA : Exports 2/7/ : 179 225 175 175 Domestic deliveries 2/ : 9,815 10,075 10,150 10,250 Domestic food use : 9,672 9,848 9,953 10,053 Other 8/ : 143 227 197 197 Miscellaneous 9/ : (2) 0 0 0 Use, total : 9,992 10,300 10,325 10,425 Ending stocks 2/ : 1,679 1,492 NA NA : Stocks to use ratio : 16.8 14.5 NA NA ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. 2/ Historical data are from FSA, "Sweetener Market Data" except 1997/98 imports from U.S. Customs Service. 3/ Projections for 1999/2000 are based on June Acreage and analyses by the Interagency Commodity Estimates Committee for sugar. 4/ Production by state for 1998/99 (projected 1999/2000): FL 2,132 (2,025); HI 350 (330); LA 1,260 (1,400); TX 106 (100); PR 3 (15). 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-352-15 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :=============================== : : Est. : June July =============================================================================== : Million acres Area : Planted : 13.90 13.39 13.94 * 14.56 * Harvested : 13.41 10.68 13.00 * 13.50 * : : Pounds Yield per harvested : acre : 673 625 665 * 665 * : : Million 480 pound bales : Beginning stocks 2/ : 3.97 3.89 3.60 3.60 Production : 18.79 13.92 18.00 18.70 Imports : 0.01 0.40 0.05 0.05 Supply, total : 22.78 18.21 21.65 22.35 Domestic use : 11.35 10.45 10.60 10.60 Exports : 7.50 4.15 5.50 5.70 Use, total : 18.85 14.60 16.10 16.30 Unaccounted 3/ : 0.04 0.01 0.05 0.05 Ending stocks : 3.89 3.60 5.50 6.00 : Avg. farm price 4/ : 65.2 61.1 5/ 5/ =============================================================================== Note: Totals may not add due to rounding. 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. The 1998/99 price is a weighted average price for upland cotton for August-May. 5/ USDA is prohibited by law from publishing cotton price projections. * For June, planted area reported in March 31 Prospective Plantings. For July, planted area reported in June 30 Acreage. Projected harvested area based on 1988-1997 average acreage abandonment by State. Projected yield based on 1994-98 average yield by State, dropping the lowest yield for each State. WASDE-352-16 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1997/98 : World 3/ : 113.85 609.90 122.98 103.43 584.57 122.75 139.18 United States : 12.07 67.53 2.58 6.75 34.21 28.32 19.66 Total foreign : 101.78 542.36 120.40 96.68 550.36 94.44 119.52 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/ : 40.02 187.20 37.93 17.92 210.25 4.52 50.37 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 2.91 7.62 N. Africa : 5.12 9.95 17.71 0.31 28.28 0.09 4.41 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 80.34 5.80 24.50 72.09 4.60 15.82 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 : : 1998/99 (Estimated) : World 3/ : 139.18 588.02 116.42 107.09 590.68 117.36 136.52 United States : 19.66 69.41 2.72 10.40 37.50 28.58 25.72 Total foreign : 119.52 518.61 113.70 96.69 553.17 88.79 110.80 Major exporters 4/ : 23.81 159.82 23.99 52.74 104.14 72.76 30.71 Argentina : 0.42 10.75 0.03 0.10 3.90 7.00 0.30 Australia : 1.35 21.00 0.03 3.00 5.30 15.50 1.58 Canada : 5.99 24.40 0.20 4.40 8.40 14.00 8.19 EU-15 : 16.05 103.67 23.73 45.24 86.55 36.26 20.64 Major importers 5/ : 50.37 179.77 33.87 18.46 213.29 5.14 45.58 Brazil : 0.54 2.20 6.30 0.20 8.50 0.00 0.54 China : 33.37 110.00 1.00 5.00 116.00 0.50 27.87 East. Europe : 7.62 34.12 1.67 11.70 32.59 4.15 6.67 N. Africa : 4.41 14.18 15.70 0.31 28.55 0.09 5.66 Pakistan : 3.21 18.70 3.20 0.30 21.25 0.00 3.86 Selected other : India : 10.08 65.91 1.65 0.35 67.00 0.00 10.64 FSU-12 6/ : 15.82 56.04 6.18 18.37 65.17 6.60 6.27 Russia : 8.08 26.90 3.00 11.65 35.65 1.20 1.13 Kazakstan : 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-352-17 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: =============================================================================== : : 1999/00 (Projected) World 3/ : June : 137.66 570.10 120.36 101.89 589.79 121.46 117.97 July : 136.52 575.38 120.57 102.07 588.48 121.23 123.42 United States : June : 26.37 61.01 2.59 7.48 35.11 31.30 23.55 July : 25.72 63.49 2.72 8.17 35.79 31.30 24.85 Total foreign : June : 111.29 509.10 117.77 94.41 554.69 90.16 94.42 July : 110.80 511.89 117.85 93.90 552.69 89.94 98.58 Major exporters 4/ : June : 31.13 154.06 24.20 53.45 105.34 78.00 26.06 July : 30.71 155.61 24.70 54.35 105.73 79.10 26.19 Argentina Jun : 0.30 12.00 0.03 0.30 4.53 7.50 0.30 Jul : 0.30 12.00 0.03 0.30 4.03 8.00 0.30 Australia Jun : 1.58 22.00 0.03 2.80 5.10 17.00 1.50 Jul : 1.58 22.50 0.03 2.80 5.10 17.50 1.50 Canada Jun : 8.89 23.50 0.20 4.20 8.20 16.50 7.89 Jul : 8.19 23.50 0.20 4.20 8.20 16.50 7.19 EU-15 Jun : 20.36 96.57 23.95 46.15 87.51 37.00 16.37 Jul : 20.64 97.61 24.45 47.05 88.41 37.10 17.20 Major importers 5/ : June : 45.36 168.39 37.15 15.81 213.12 2.76 35.02 July : 45.58 173.59 35.65 16.81 214.12 2.76 37.95 Brazil Jun : 0.54 2.50 6.00 0.10 8.50 0.00 0.54 Jul : 0.54 2.50 6.00 0.10 8.50 0.00 0.54 China Jun : 27.62 106.00 4.00 4.00 116.00 0.50 21.12 Jul : 27.87 112.00 2.00 5.00 117.00 0.50 24.37 East. Europe Jun : 6.67 28.43 2.15 10.15 30.92 1.78 4.55 Jul : 6.67 28.43 2.15 10.15 30.92 1.78 4.55 N. Africa Jun : 5.68 12.86 15.30 0.31 29.40 0.09 4.36 Jul : 5.66 12.06 16.00 0.31 29.50 0.09 4.14 Pakistan Jun : 3.86 18.00 3.50 0.30 22.00 0.00 3.36 Jul : 3.86 18.00 3.50 0.30 22.00 0.00 3.36 Selected other : India Jun : 10.64 71.50 0.50 0.35 68.25 1.00 13.39 Jul : 10.64 71.50 0.50 0.35 68.25 0.20 14.19 FSU-12 6/ Jun : 6.67 63.33 5.83 18.23 65.12 4.80 5.90 Jul : 6.27 61.53 5.83 15.83 62.12 5.30 6.20 Russia Jun : 1.13 33.50 2.70 11.50 35.50 0.50 1.33 Jul : 1.13 31.50 2.70 9.80 33.80 0.50 1.03 Kazakstan Jun : 2.32 6.00 0.00 1.30 4.70 1.80 1.82 Jul : 2.32 7.00 0.00 1.30 4.70 2.30 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-352-18 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: =============================================================================== : : 1997/98 : World 3/ : 128.22 880.48 99.17 581.72 873.17 100.30 135.52 United States : 27.01 260.43 2.94 154.98 206.97 45.25 38.15 Total foreign : 101.21 620.05 96.23 426.74 666.21 55.05 97.37 Major exporters 4/ : 9.07 67.31 1.78 36.45 46.67 22.09 9.40 Argentina : 1.11 24.67 0.01 7.50 9.62 13.75 2.41 Australia : 0.67 9.49 0.00 4.49 5.69 3.34 1.14 Canada : 4.85 25.12 1.52 19.88 23.44 3.75 4.30 Major importers 5/ : 27.91 206.72 63.10 172.98 235.13 22.22 40.38 EU-15 : 12.21 109.38 16.38 74.32 97.64 17.99 22.34 East. Europe : 5.17 58.57 1.30 41.63 53.02 3.26 8.75 Japan : 2.22 0.20 21.00 16.24 20.66 0.00 2.76 Mexico : 3.70 23.01 7.98 16.34 31.58 0.36 2.75 Southeast Asia : 1.24 13.18 3.29 11.46 16.15 0.61 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 1.54 93.83 129.43 6.20 27.10 FSU-12 6/ : 3.29 67.86 1.15 36.17 57.19 3.00 12.10 Russia : 1.20 40.85 0.49 20.86 33.71 1.57 7.27 Ukraine : 1.13 15.46 0.01 6.82 12.21 1.12 3.26 : : 1998/99 (Estimated) : World 3/ : 135.52 878.12 104.11 573.80 870.00 104.27 143.64 United States : 38.15 271.55 3.06 154.80 208.13 54.41 50.23 Total foreign : 97.37 606.57 101.06 419.00 661.88 49.86 93.41 Major exporters 4/ : 9.40 60.24 1.79 35.78 45.91 16.61 8.89 Argentina : 2.41 18.25 0.01 7.08 9.20 9.70 1.78 Australia : 1.14 8.57 0.00 3.93 5.12 3.71 0.88 Canada : 4.30 26.50 0.77 20.30 23.73 3.00 4.84 Major importers 5/ : 40.38 198.89 62.89 172.56 236.04 26.93 39.19 EU-15 : 22.34 104.94 17.07 73.13 96.64 23.95 23.77 East. Europe : 8.75 51.09 0.78 40.33 51.58 2.73 6.31 Japan : 2.76 0.15 20.84 16.34 21.24 0.00 2.50 Mexico : 2.75 24.40 8.36 17.34 33.09 0.05 2.38 Southeast Asia : 0.94 15.85 2.50 12.44 17.49 0.20 1.61 South Korea : 0.50 0.49 7.91 6.21 8.41 0.00 0.48 Selected other : China : 27.10 135.65 2.75 95.80 131.25 2.55 31.70 FSU-12 6/ : 12.10 37.84 1.58 25.98 45.36 1.70 4.47 Russia : 7.27 18.95 1.10 13.45 25.40 0.20 1.72 Ukraine : 3.26 10.45 0.00 5.93 11.02 1.17 1.53 =============================================================================== 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-352-19 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: =============================================================================== : : 1999/00 (Projected) World 3/ : June : 142.25 880.21 103.12 577.93 881.52 107.39 140.95 July : 143.64 884.56 104.28 578.86 880.52 107.87 147.68 United States : June : 49.28 262.38 2.82 155.63 211.05 52.76 50.67 July : 50.23 268.70 2.82 155.33 210.63 54.66 56.46 Total foreign : June : 92.97 617.84 100.30 422.31 670.47 54.64 90.28 July : 93.41 615.86 101.46 423.53 669.89 53.21 91.21 Major exporters 4/ : June : 8.79 61.73 1.29 35.56 46.06 17.98 7.78 July : 8.89 62.13 1.29 35.65 46.15 18.09 8.08 Argentina Jun : 1.98 20.12 0.01 7.38 9.50 10.80 1.81 Jul : 1.78 20.12 0.01 7.38 9.50 10.80 1.61 Australia Jun : 1.08 7.81 0.00 3.68 4.88 3.20 0.81 Jul : 0.88 7.81 0.00 3.46 4.67 3.22 0.81 Canada Jun : 4.44 25.35 1.03 20.09 23.88 3.03 3.91 Jul : 4.84 25.75 1.03 20.34 24.08 3.13 4.41 Major importers 5/ : June : 39.24 194.85 62.61 170.80 233.80 28.24 34.66 July : 39.19 194.43 63.77 172.22 235.07 29.56 32.76 EU-15 Jun : 23.90 102.28 16.98 72.61 96.11 24.29 22.76 Jul : 23.77 102.65 17.38 73.18 96.67 25.74 21.40 East. Europe Jun : 6.22 50.72 0.90 38.34 49.43 3.76 4.66 Jul : 6.31 49.92 0.99 38.34 49.43 3.68 4.12 Japan Jun : 2.50 0.16 20.24 16.24 20.64 0.00 2.26 Jul : 2.50 0.16 20.59 16.34 20.99 0.00 2.26 Mexico Jun : 2.38 25.08 8.23 17.90 33.65 0.10 1.93 Jul : 2.38 25.08 8.48 18.40 33.95 0.05 1.93 Southeast Asia Jun : 1.61 14.26 2.65 12.59 17.62 0.10 0.80 Jul : 1.61 14.26 2.65 12.59 17.62 0.10 0.80 South Korea Jun : 0.48 0.49 8.31 6.56 8.76 0.00 0.52 Jul : 0.48 0.49 8.56 6.81 9.01 0.00 0.52 Selected other : China Jun : 31.20 141.10 3.00 99.60 135.55 4.05 35.70 Jul : 31.70 143.10 3.00 100.10 136.05 2.55 39.20 FSU-12 6/ Jun : 4.70 46.82 0.74 25.95 45.55 2.59 4.11 Jul : 4.47 44.22 0.98 25.37 44.74 1.94 2.99 Russia Jun : 1.72 26.20 0.25 13.30 25.45 1.05 1.67 Jul : 1.72 23.70 0.55 12.60 24.55 0.55 0.87 Ukraine Jun : 1.53 11.95 0.00 6.38 11.37 1.26 0.85 Jul : 1.53 11.95 0.00 6.38 11.37 1.26 0.85 =============================================================================== 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-352-20 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1997/98 : World 3/ : 92.94 573.58 71.13 407.74 580.10 71.48 86.43 United States : 22.43 233.86 0.22 139.83 185.09 38.21 33.22 Total foreign : 70.51 339.72 70.90 267.91 395.01 33.27 53.21 Major exporters 4/ : 3.20 26.90 0.10 9.04 13.64 13.40 3.16 Argentina : 0.75 19.36 0.00 4.80 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/ : 13.61 100.88 47.31 94.69 132.61 12.47 16.72 EU-15 : 3.28 38.60 10.22 30.69 38.82 8.81 4.48 Japan : 0.93 0.00 16.42 11.80 15.90 0.00 1.45 Mexico : 2.45 16.93 4.38 7.15 21.90 0.36 1.50 Southeast Asia : 1.24 12.98 3.28 11.27 15.95 0.61 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 0.29 91.00 117.41 6.17 26.00 FSU-12 6/ : 0.97 10.66 0.23 5.40 8.52 0.66 2.68 Russia : 0.16 2.70 0.12 1.46 2.40 0.02 0.56 : : 1998/99 (Estimated) : World 3/ : 86.43 592.53 73.35 408.37 580.58 72.71 98.38 United States : 33.22 247.94 0.51 141.61 188.48 48.90 44.30 Total foreign : 53.21 344.58 72.85 266.76 392.10 23.81 54.08 Major exporters 4/ : 3.16 20.30 0.85 8.65 13.30 8.70 2.31 Argentina : 1.61 13.80 0.00 4.40 6.00 8.50 0.91 South Africa : 1.55 6.50 0.85 4.25 7.30 0.20 1.40 Major importers 5/ : 16.72 93.43 48.16 93.74 132.76 11.04 14.49 EU-15 : 4.48 34.49 11.16 29.61 37.69 8.61 3.82 Japan : 1.45 0.00 16.50 12.10 16.70 0.00 1.26 Mexico : 1.50 17.50 5.25 7.55 22.80 0.05 1.40 Southeast Asia : 0.94 15.65 2.50 12.25 17.29 0.20 1.61 South Korea : 0.50 0.08 7.75 6.15 7.85 0.00 0.48 Selected other : China : 26.00 124.00 0.25 93.00 117.25 2.50 30.50 FSU-12 6/ : 2.68 5.29 0.70 4.32 6.94 0.45 1.28 Russia : 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-352-21 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: =============================================================================== : : 1999/00 (Projected) World 3/ : June : 97.47 600.49 71.44 416.47 596.39 75.20 101.58 July : 98.38 606.20 72.05 416.45 594.84 75.36 109.73 United States : June : 43.87 239.91 0.25 142.88 191.78 46.99 45.26 July : 44.30 245.12 0.25 141.61 190.13 48.90 50.65 Total foreign : June : 53.61 360.58 71.19 273.58 404.61 28.21 56.31 July : 54.08 361.08 71.80 274.84 404.71 26.46 59.08 Major exporters 4/ : June : 2.41 23.50 0.10 8.60 13.20 10.45 2.36 July : 2.31 23.50 0.10 8.65 13.30 10.45 2.16 Argentina Jun : 1.11 15.50 0.00 4.40 6.00 9.50 1.11 Jul : 0.91 15.50 0.00 4.40 6.00 9.50 0.91 South Africa Jun : 1.30 8.00 0.10 4.20 7.20 0.95 1.25 Jul : 1.40 8.00 0.10 4.25 7.30 0.95 1.25 Major importers 5/ : June : 14.30 95.18 47.19 94.54 133.23 12.04 11.40 July : 14.49 94.12 48.36 95.19 133.76 12.14 11.08 EU-15 Jun : 3.63 35.53 10.91 30.34 38.42 8.71 2.94 Jul : 3.82 35.48 11.31 30.34 38.42 9.06 3.13 Japan Jun : 1.26 0.00 15.90 12.00 16.10 0.00 1.06 Jul : 1.26 0.00 16.25 12.10 16.45 0.00 1.06 Mexico Jun : 1.40 18.50 4.75 7.75 23.00 0.10 1.55 Jul : 1.40 18.50 5.00 8.25 23.30 0.05 1.55 Southeast Asia Jun : 1.61 14.06 2.65 12.40 17.42 0.10 0.80 Jul : 1.61 14.06 2.65 12.40 17.42 0.10 0.80 South Korea Jun : 0.48 0.09 8.00 6.35 8.05 0.00 0.52 Jul : 0.48 0.09 8.25 6.60 8.30 0.00 0.52 Selected other : China Jun : 30.00 130.00 0.25 96.50 121.25 4.00 35.00 Jul : 30.50 132.00 0.25 97.00 121.75 2.50 38.50 FSU-12 6/ Jun : 1.52 7.71 0.16 4.72 7.27 0.70 1.41 Jul : 1.28 7.61 0.10 4.84 7.36 0.55 1.08 Russia Jun : 0.16 1.80 0.05 1.15 1.85 0.00 0.16 Jul : 0.16 1.80 0.05 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-352-22 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 : =============================================================================== : : 1997/98 World 3/ : 51.09 385.61 24.52 383.10 26.97 53.60 United States : 0.87 5.98 0.29 3.45 2.78 0.90 Total foreign : 50.22 379.64 24.23 379.65 24.18 52.70 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/ : 5.87 48.78 13.85 60.98 1.41 6.09 Indonesia : 1.53 30.63 6.08 35.20 0.00 3.05 Selected other : China : 25.56 140.49 0.26 135.85 3.73 26.72 Japan : 3.25 9.12 0.46 9.20 0.57 3.05 : : 1998/99 (Estimated) World 3/ : 53.60 382.82 23.14 386.72 23.84 49.70 United States : 0.90 6.14 0.32 3.58 2.78 1.01 Total foreign : 52.70 376.68 22.82 383.15 21.06 48.69 Major exporters 4/ : 11.41 121.85 0.00 106.85 14.35 12.06 Thailand : 0.79 14.30 0.00 8.70 5.50 0.89 Vietnam : 0.00 18.90 0.00 15.40 3.50 0.00 Major importers 5/ : 6.09 52.25 10.62 61.40 1.23 6.35 Indonesia : 3.05 32.10 2.50 35.20 0.00 2.44 Selected other : China : 26.72 133.00 0.30 136.75 1.75 21.52 Japan : 3.05 8.15 0.75 9.20 0.40 2.35 : : 1999/00 (Projected) World 3/ : June : 48.46 389.76 23.50 389.00 23.50 49.22 July : 49.70 389.92 21.75 392.56 23.25 47.05 United States : June : 1.00 6.76 0.32 3.67 2.74 1.67 July : 1.01 6.89 0.33 3.67 2.74 1.81 Total foreign : June : 47.46 383.00 23.18 385.33 20.76 47.56 July : 48.69 383.02 21.43 388.89 20.51 45.24 Major exporters 4/ : June : ---- ---- ---- ---- ---- ---- July : 12.06 122.20 0.00 108.35 13.70 12.21 Thailand Jun : ---- ---- ---- ---- ---- ---- Jul : 0.89 14.70 0.00 8.80 5.70 1.09 Vietnam Jun : ---- ---- ---- ---- ---- ---- Jul : 0.00 18.90 0.00 15.40 3.50 0.00 Major importers 5/ : June : ---- ---- ---- ---- ---- ---- July : 6.35 52.57 10.17 62.55 1.16 5.38 Indonesia Jun : ---- ---- ---- ---- ---- ---- Jul : 2.44 32.10 2.50 35.70 0.00 1.34 Selected other : China Jun : ---- ---- ---- ---- ---- ---- Jul : 21.52 138.00 0.50 138.00 1.90 20.12 Japan Jun : ---- ---- ---- ---- ---- ---- Jul : 2.35 8.00 0.72 9.10 0.40 1.57 =============================================================================== 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-352-23 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 1997/98 World 2/ : 13.47 157.74 39.22 125.95 148.58 40.42 21.43 United States : 3.59 73.18 0.14 43.46 47.78 23.69 5.44 Total foreign : 9.88 84.56 39.09 82.49 100.81 16.74 15.99 Major exporters 3/ : 7.40 54.69 2.35 33.40 36.52 14.37 13.55 Argentina : 3.40 19.20 1.45 13.00 13.77 3.23 7.05 Brazil : 4.00 32.50 0.90 19.90 22.15 8.75 6.50 Major importers 4/ : 1.78 18.28 29.62 34.77 46.92 0.99 1.76 EU-15 : 0.84 1.57 16.30 15.49 17.04 0.82 0.85 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 (Estimated) World 2/ : 21.43 157.19 39.95 130.46 154.18 39.62 24.77 United States : 5.44 75.03 0.11 43.00 48.47 21.36 10.74 Total foreign : 15.99 82.16 39.84 87.46 105.70 18.26 14.03 Major exporters 3/ : 13.55 52.40 1.50 37.80 40.77 15.10 11.58 Argentina : 7.05 18.30 0.90 16.30 17.07 3.10 6.08 Brazil : 6.50 31.00 0.60 21.00 23.10 9.50 5.50 Major importers 4/ : 1.76 17.28 31.24 34.88 47.05 1.52 1.71 EU-15 : 0.85 1.54 17.12 15.74 17.27 1.34 0.91 Japan : 0.63 0.16 4.70 3.68 4.99 0.00 0.51 China : 0.00 13.80 3.60 10.45 17.22 0.18 0.00 : : 1999/00 (Projected) World 2/ : July : 24.77 159.04 42.19 133.57 156.21 42.03 27.76 United States : July : 10.74 79.88 0.11 45.04 49.36 25.31 16.06 Total foreign : July : 14.03 79.17 42.08 88.52 106.85 16.72 11.70 Major exporters 3/ : July : 11.58 50.35 1.60 37.30 40.27 13.75 9.52 Argentina Jul : 6.08 17.00 0.90 16.30 17.07 2.20 4.72 Brazil Jul : 5.50 30.50 0.70 20.50 22.60 9.30 4.80 Major importers 4/ : July : 1.71 16.33 32.73 35.44 47.64 1.54 1.59 EU-15 Jul : 0.91 1.41 17.48 15.90 17.47 1.43 0.89 Japan Jul : 0.51 0.17 4.70 3.62 4.92 0.00 0.45 China Jul : 0.00 13.00 4.40 10.60 17.30 0.10 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-352-24 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 1997/98 World 2/ : 3.77 100.16 37.28 100.17 37.48 3.56 United States : 0.19 34.63 0.05 26.21 8.46 0.20 Total foreign : 3.58 65.53 37.22 73.96 29.02 3.36 Major exporters 3/ : 1.08 30.12 0.10 7.49 22.68 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 1.20 2.60 0.00 Major importers 4/ : 1.20 21.69 25.52 42.29 5.05 1.07 EU-15 : 0.88 12.14 16.78 23.92 5.01 0.88 China : 0.00 8.58 4.20 12.76 0.02 0.00 : : 1998/99 (Estimated) World 2/ : 3.56 103.21 38.28 101.84 39.15 4.07 United States : 0.20 33.85 0.04 27.67 6.17 0.25 Total foreign : 3.36 69.36 38.24 74.17 32.98 3.82 Major exporters 3/ : 1.14 34.10 0.10 7.44 26.64 1.26 Argentina : 0.23 13.30 0.00 0.43 12.74 0.36 Brazil : 0.91 16.59 0.10 5.90 10.80 0.90 India : 0.00 4.21 0.00 1.11 3.10 0.00 Major importers 4/ : 1.07 21.71 25.31 41.87 5.06 1.16 EU-15 : 0.88 12.29 18.08 25.29 5.04 0.92 China : 0.00 8.34 2.35 10.68 0.01 0.00 : : 1999/00 (Projected) World 2/ : July : 4.07 106.12 39.24 105.64 39.95 3.85 United States : July : 0.25 35.70 0.05 28.21 7.53 0.25 Total foreign : July : 3.82 70.42 39.20 77.42 32.42 3.60 Major exporters 3/ : July : 1.26 33.78 0.10 7.93 26.00 1.22 Argentina Jul : 0.36 13.30 0.00 0.43 12.90 0.33 Brazil Jul : 0.90 16.18 0.10 6.10 10.20 0.89 India Jul : 0.00 4.30 0.00 1.40 2.90 0.00 Major importers 4/ : July : 1.16 22.11 25.66 42.75 5.13 1.06 EU-15 Jul : 0.92 12.51 18.37 25.87 5.11 0.82 China Jul : 0.00 8.46 2.40 10.84 0.01 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-352-25 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 1997/98 World 2/ : 2.55 22.86 6.71 22.55 6.96 2.60 United States : 0.69 8.23 0.03 6.92 1.40 0.63 Total foreign : 1.86 14.63 6.68 15.62 5.57 1.97 Major exporters 3/ : 0.86 8.78 0.60 4.40 4.95 0.88 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 2.79 0.40 1.58 1.61 0.18 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 (Estimated) World 2/ : 2.60 23.62 7.30 23.54 7.42 2.56 United States : 0.63 8.05 0.03 6.96 1.04 0.70 Total foreign : 1.97 15.57 7.27 16.58 6.37 1.86 Major exporters 3/ : 0.88 9.62 0.65 4.51 5.73 0.92 Argentina : 0.28 2.82 0.00 0.11 2.70 0.29 Brazil : 0.42 3.93 0.21 2.72 1.45 0.38 EU-15 : 0.18 2.88 0.44 1.68 1.58 0.24 Major importers 4/ : 0.60 2.72 2.30 5.07 0.08 0.47 China : 0.58 1.74 1.50 3.29 0.08 0.45 Pakistan : 0.02 0.01 0.30 0.31 0.00 0.02 : : 1999/00 (Projected) World 2/ : July : 2.56 24.12 7.09 23.89 7.11 2.77 United States : July : 0.70 8.45 0.03 7.14 0.91 1.12 Total foreign : July : 1.86 15.68 7.06 16.75 6.20 1.65 Major exporters 3/ : July : 0.92 9.51 0.65 4.60 5.57 0.91 Argentina Jul : 0.29 2.82 0.00 0.11 2.68 0.33 Brazil Jul : 0.38 3.84 0.22 2.78 1.30 0.36 EU-15 Jul : 0.24 2.85 0.43 1.71 1.59 0.22 Major importers 4/ : July : 0.47 2.74 2.06 4.93 0.02 0.31 China Jul : 0.45 1.77 1.30 3.20 0.02 0.30 Pakistan Jul : 0.02 0.00 0.26 0.26 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. WASDE-352-26 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/ : : =============================================================================== : : 1997/98 : World : 38.18 91.58 26.39 88.45 26.64 0.30 40.76 United States : 3.97 18.79 0.01 11.35 7.50 0.04 3.89 Total foreign : 34.20 72.79 26.38 77.10 19.14 0.26 36.88 Major exporters 5/ : 11.88 39.76 0.51 24.03 15.86 0.07 12.19 Pakistan : 1.82 7.18 0.12 7.19 0.38 0.03 1.52 India : 4.68 12.26 0.15 12.68 0.31 0.00 4.10 Central Asia 6/ : 1.49 7.14 0.01 1.19 5.85 0.00 1.60 Afr. Fr. Zone 7/ : 0.49 4.32 4/ 0.31 3.59 0.00 0.91 S. Hemis. 8/ : 2.33 5.75 0.23 1.26 4.50 0.02 2.52 Australia : 0.95 3.06 4/ 0.20 2.71 0.00 1.10 Argentina : 1.04 1.41 0.03 0.43 1.00 0.01 1.04 Major importers : 20.53 29.80 20.30 45.59 1.98 0.18 22.88 Brazil : 1.26 1.75 1.88 3.40 0.00 0.00 1.49 Mexico : 0.20 0.98 1.48 1.95 0.31 0.04 0.36 China : 14.76 21.10 1.83 20.80 0.03 0.00 16.86 Europe : 1.88 2.28 6.05 6.72 1.41 0.05 2.02 Turkey : 0.56 3.65 1.45 5.00 0.10 0.00 0.56 Selected Asia 9/ : 1.88 0.05 7.60 7.72 0.12 0.10 1.60 Indonesia : 0.10 0.02 1.92 1.85 0.00 0.05 0.14 South Korea : 0.51 4/ 1.32 1.35 0.05 0.00 0.43 : : 1998/99 (Estimated) : World : 40.76 84.36 24.72 85.00 23.52 0.30 41.01 United States : 3.89 13.92 0.40 10.45 4.15 0.01 3.60 Total foreign : 36.88 70.44 24.32 74.55 19.37 0.30 37.41 Major exporters 5/ : 12.19 37.55 1.21 23.37 15.25 0.07 12.27 Pakistan : 1.52 6.30 0.65 7.10 0.01 0.03 1.34 India : 4.10 12.80 0.35 12.20 0.15 0.00 4.90 Central Asia 6/ : 1.60 6.60 0.01 1.19 5.45 0.00 1.57 Afr. Fr. Zone 7/ : 0.91 4.05 4/ 0.31 3.60 0.00 1.05 S. Hemis. 8/ : 2.52 5.22 0.20 1.24 4.44 0.02 2.23 Australia : 1.10 3.10 4/ 0.19 2.90 0.00 1.12 Argentina : 1.04 1.00 0.02 0.44 0.85 0.01 0.76 Major importers : 22.88 29.87 17.82 44.20 2.85 0.22 23.30 Brazil : 1.49 2.00 1.35 3.25 0.00 0.00 1.59 Mexico : 0.36 1.00 1.45 2.15 0.22 0.04 0.41 China : 16.86 20.70 0.35 20.00 0.70 0.00 17.21 Europe : 2.02 2.27 5.68 6.46 1.48 0.09 1.93 Turkey : 0.56 3.85 0.85 4.35 0.35 0.00 0.56 Selected Asia 9/ : 1.60 0.05 8.14 7.99 0.10 0.10 1.61 Indonesia : 0.14 0.02 2.20 2.15 0.00 0.05 0.16 South Korea : 0.43 4/ 1.38 1.38 0.04 0.00 0.40 =============================================================================== 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 1.81 million bales in 1997/98 and 1.68 million in 1998/99. 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-352-27 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/ : : =============================================================================== : : 1999/00 (Projected) World : June : 41.08 87.00 25.30 86.50 25.00 0.30 41.58 July : 41.01 89.24 25.71 86.88 25.34 0.29 43.45 United States : June : 3.60 18.00 0.05 10.60 5.50 0.05 5.50 July : 3.60 18.70 0.05 10.60 5.70 0.05 6.00 Total foreign : June : 37.48 69.00 25.25 75.90 19.50 0.25 36.08 July : 37.41 70.54 25.66 76.28 19.64 0.24 37.45 Major exporters 5/ : July : 12.27 39.07 1.09 23.99 15.43 0.07 12.93 Pakistan Jul : 1.34 7.00 0.40 7.20 0.10 0.03 1.41 India Jul : 4.90 12.65 0.35 12.70 0.30 0.00 4.90 Central Asia 6/Jul : 1.57 7.35 0.01 1.21 5.85 0.00 1.86 Afr. Fr. Zn. 7/Jul : 1.05 4.29 4/ 0.32 3.79 0.00 1.24 S. Hemis 8/ Jul : 2.23 5.38 0.23 1.25 4.09 0.02 2.47 Australia Jul : 1.12 3.20 4/ 0.20 2.80 0.00 1.32 Argentina Jul : 0.76 1.00 0.04 0.44 0.60 0.01 0.75 Major importers Jul : 23.30 28.43 19.17 45.28 2.90 0.17 22.55 Brazil Jul : 1.59 2.10 1.65 3.60 0.00 0.00 1.74 Mexico Jul : 0.41 0.65 2.00 2.40 0.20 0.03 0.43 China Jul : 17.21 19.50 0.30 20.00 1.00 0.00 16.01 Europe Jul : 1.93 2.33 5.75 6.40 1.45 0.05 2.11 Turkey Jul : 0.56 3.80 1.00 4.60 0.15 0.00 0.61 Sel. Asia 9/ Jul : 1.61 0.05 8.48 8.28 0.10 0.10 1.66 Indonesia Jul : 0.16 0.02 2.35 2.25 0.00 0.05 0.23 S. Korea Jul : 0.40 4/ 1.50 1.45 0.05 0.00 0.40 =============================================================================== 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 1.81 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-352-28 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 1998 : III 6638 4625 11380 6942 1302 8375 19755 1658 38.5 IV 6339 5239 11702 7085 1367 8580 20282 1712 38.9 Annual : 25653 18981 45134 27863 5281 33667 78801 6659 157.4 : 1999 : I : 6397 4865 11384 7295 1205 8637 20021 1691 40.5 II : 6625 4635 11371 7500 1325 8970 20341 1695 41.9 III *: 6675 4750 11529 7400 1375 8910 20439 1715 39.7 IV *: 6175 5000 11286 7400 1375 8905 20191 1765 39.9 Annual : Jun Proj : 25572 18815 44830 29487 5281 35314 80144 6831 161.9 Jul Proj : 25872 19250 45570 29595 5280 35422 80992 6866 162.0 : 2000 : I *: 5975 4725 10812 7750 1275 9165 19977 1735 41.7 II *: 5975 4500 10578 7800 1350 9300 19878 1735 42.9 Annual : Jun Proj : 24050 18475 42947 31000 5400 36965 79912 6980 165.6 Jul Proj : 24100 18625 43147 31000 5400 36965 80112 7030 165.6 =============================================================================== * 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 1998 : III 58.97 36.61 70.4 63.4 76.0 15.47 IV 61.06 22.06 64.5 71.2 81.7 17.83 Annual : 61.48 34.72 63.1 62.2 75.8 15.42 : 1999 : I : 62.43 28.83 58.1 59.4 75.0 15.97 II : 65.00 35.20 58.6 65.8 58.1 12.87 III *: 62-64 31-33 58-60 69-71 66-68 13.80-14.20 IV *: 64-68 28-30 55-59 73-79 72-78 13.85-14.55 Annual : Jun Proj : 63-66 36-37 57-59 66-68 69-72 13.70-14.10 Jul Proj : 63-65 30-32 57-59 67-69 68-70 14.10-14.40 2000 : I *: 67-73 31-33 52-56 58-62 67-73 12.80-13.80 II *: 69-75 34-36 54-58 60-64 53-57 11.70-12.70 Annual : Jun Proj : 71-76 40-43 54-58 61-67 65-70 12.75-13.75 Jul Proj : 70-76 34-37 54-58 61-67 63-68 12.80-13.80 =============================================================================== *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-352-29 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 : 1998 : 465 25760 2642 28867 2171 393 26303 68.1 1999 Proj. Jun : 393 25678 2708 28779 2449 370 25960 66.6 Jul : 393 25978 2708 29079 2449 370 26260 67.4 2000 Proj. Jun : 370 24156 2800 27326 2300 365 24661 62.8 Jul : 370 24206 2800 27376 2300 365 24711 62.8 : PORK : 1998 : 408 19011 704 20123 1229 586 18308 52.6 1999 Proj. Jun : 586 18845 780 20211 1247 500 18464 52.5 Jul : 586 19280 780 20646 1247 575 18824 53.5 2000 Proj. Jun : 500 18505 700 19705 1200 475 18030 50.9 Jul : 575 18655 775 20005 1200 525 18280 51.5 : TOTAL RED MEAT 4/ : 1998 : 895 45284 3458 49637 3406 996 45235 122.7 1999 Proj. Jun : 996 44979 3600 49575 3702 887 44986 121.0 Jul : 996 45719 3600 50315 3702 962 45651 122.7 2000 Proj. Jun : 887 43096 3621 47604 3506 855 43243 115.4 Jul : 962 43296 3689 47947 3506 905 43536 116.1 : BROILERS : 1998 : 607 27612 5 28225 4673 711 22841 72.6 1999 Proj. Jun : 711 29216 4 29931 4512 800 24619 77.5 Jul : 711 29323 4 30038 4612 800 24627 77.5 2000 Proj. Jun : 800 30709 4 31513 4575 800 26138 81.6 Jul : 800 30709 4 31513 4575 800 26138 81.6 : TURKEYS : 1998 : 415 5215 0 5630 446 304 4880 18.1 1999 Proj. Jun : 304 5215 1 5520 395 250 4874 17.9 Jul : 304 5214 1 5519 395 250 4874 17.9 2000 Proj. Jun : 250 5332 0 5582 400 300 4882 17.8 Jul : 250 5332 0 5582 400 300 4882 17.7 : TOTAL POULTRY 5/ : 1998 : 1029 33352 6 34387 5545 1022 27821 91.0 1999 Proj. Jun : 1022 34978 6 36006 5283 1055 29667 96.1 Jul : 1022 35085 6 36113 5387 1055 29670 96.0 2000 Proj. Jun : 1055 36607 4 37666 5357 1105 31204 100.1 Jul : 1055 36607 4 37666 5357 1105 31204 100.0 : RED MEAT & POULTRY: 1998 : 1924 78636 3464 84024 8950 2018 73057 213.7 1999 Proj. Jun : 2018 79957 3606 85581 8984 1942 74654 217.0 Jul : 2018 80804 3606 86428 9089 2017 75321 218.7 2000 Proj. Jun : 1942 79703 3625 85270 8863 1960 74448 215.5 Jul : 2017 79903 3693 85613 8863 2010 74741 216.0 ============================================================================ 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. WASDE-352-30 U.S. Egg Supply and Use =============================================================================== : : : 1999 Projected : 2000 Projected : : :-----------------:----------------- Commodity : 1997 : 1998 : Jun : Jul : Jun : Jul =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 8.5 7.4 8.4 8.4 5.0 5.0 Production : 6473.1 6658.7 6831.3 6866.3 6980.0 7030.0 Imports : 6.9 5.8 5.0 5.0 4.0 4.0 Total supply : 6488.5 6672.0 6844.7 6879.7 6989.0 7039.0 : Use : Exports : 227.8 218.8 181.8 181.8 200.0 200.0 Hatching use : 894.7 921.8 963.5 963.5 1010.0 1010.0 Ending stocks : 7.4 8.4 5.0 5.0 5.0 5.0 Consumption : Total : 5358.6 5523.0 5694.4 5729.4 5774.0 5824.0 Per capita (number) : 240.0 245.2 250.6 251.9 252.0 253.9 =============================================================================== U.S. Milk Supply, Use and Prices =============================================================================== : : : 1998/99 Proj 1/: 1999/00 Proj 1/ Commodity :1996/97:1997/98:-----------------:----------------- : 1/ : 1/ : Jun : Jul : Jun : Jul =============================================================================== MILK : Billion pounds Supply : Beg. commercial stocks 2/ : 4.9 5.9 5.8 5.8 5.8 6.8 Production : 155.9 156.5 161.0 161.1 165.0 165.0 Farm use : 1.4 1.4 1.3 1.3 1.3 1.3 Marketings : 154.5 155.2 159.7 159.8 163.8 163.8 Imports 2/ : 2.8 4.0 4.0 4.3 3.5 3.5 Total cml. supply 2/ : 162.3 165.1 169.5 169.9 173.1 174.1 Use : Commercial use 2/ 3/ : 155.6 158.6 163.4 162.7 166.6 167.6 Ending commercial stks. 2/: 5.9 5.8 5.8 6.8 5.6 5.6 CCC net removals: : Milkfat basis 4/ : 0.7 0.7 0.3 0.3 0.9 0.9 Skim-solids basis 4/ : 2.7 4.5 4.6 5.8 2.7 2.9 : : Dollars per cwt Prices rec'd. by farmers : Basic Formula (BFP) 5/ : 11.88 13.28 13.05- 13.40- 11.15- 11.15- : 13.25 13.60 12.15 12.15 All milk 6/ : 13.53 14.60 14.75- 15.05- 12.65- 12.70- : 14.95 15.25 13.65 13.70 : : Million pounds CCC product net removals 4/: Butter : 24 21 5 5 35 35 Cheese : 10 8 7 7 6 6 Nonfat dry milk : 222 368 385 485 225 240 Dry whole milk : 7 15 9 9 4 4 =============================================================================== 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/ Or equivalent after Federal Market Order Reform. 6/ Milk of average fat test. Does not reflect any deductions from producers as authorized by legislation. WASDE-352-31 Note: Tables on pages 31-33 present a 18-year record of the differences between the July projection and the final estimate. Using world wheat production as an example, changes between the July projection and the final estimate have averaged 14.8 million tons (2.8%) ranging from -34.6 to 23.7 million tons. The July projection has been below the estimate 10 times and above 8 times. Reliability of July Projections ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-98/99 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- WHEAT :Percent Million metric tons Number of years 2/ Production : World : 2.8 14.8 -34.6 23.7 10 8 U.S. : 2.8 1.8 -6.2 5.4 8 10 Foreign : 3.1 14.2 -32.0 21.1 10 8 Exports : World : 4.4 4.9 -14.5 11.3 9 9 U.S. : 8.5 2.9 -10.0 7.8 12 5 Foreign : 5.1 4.1 -10.5 7.1 10 8 Domestic use : World : 2.1 10.7 -25.7 17.4 11 7 U.S. : 6.8 2.1 -5.0 3.6 9 9 Foreign : 1.9 9.3 -22.4 15.9 12 6 Ending stocks : World : 9.8 12.2 -23.0 27.0 10 8 U.S. : 14.4 3.6 -10.2 13.9 10 8 Foreign : 10.1 9.7 -25.0 13.8 10 8 : COARSE GRAINS 3/ : Production : World : 2.5 19.9 -33.8 53.6 9 9 U.S. : 8.3 17.3 -32.6 57.7 9 9 Foreign : 2.0 11.8 -25.1 24.2 7 11 Exports : World : 6.1 6.3 -11.1 17.8 10 8 U.S. : 16.7 8.8 -20.9 15.0 7 11 Foreign : 13.7 6.8 -13.3 14.2 9 9 Domestic use : World : 1.6 12.9 -20.4 26.7 7 11 U.S. : 4.5 7.8 -14.5 22.2 12 6 Foreign : 1.7 10.4 -9.8 30.5 9 9 Ending stocks : World : 14.7 18.2 -60.2 41.0 11 7 U.S. : 33.6 16.9 -50.5 39.5 8 10 Foreign : 11.8 8.3 -19.8 9.9 13 5 : RICE, milled : Production : World : 2.3 7.7 -24.0 13.0 13 5 U.S. : 4.1 0.2 -0.5 0.3 9 7 Foreign : 2.3 7.6 -24.3 12.7 13 5 Exports : World : 8.4 1.5 -6.7 0.7 12 6 U.S. : 7.1 0.2 -0.7 0.7 9 6 Foreign : 9.5 1.5 -6.5 0.7 13 5 Domestic use : World : 1.9 6.4 -22.4 22.9 10 8 U.S. : 7.1 0.2 -0.4 0.5 8 10 Foreign : 2.0 6.5 -22.9 22.8 10 8 Ending stocks : World : 12.2 4.3 -13.5 8.0 14 4 U.S. : 14.5 0.2 -0.5 0.8 11 6 Foreign : 13.3 4.4 -13.6 8.4 14 4 ------------------------------------------------------------------------------- 1/ Footnotes at end of table. CONTINUED WASDE-352-32 Reliability of July Projections (Continued) ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-98/99 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- SOYBEANS :Percent Million metric tons Number of years 2/ Production : World : 3.9 4.4 -11.9 7.5 8 10 U.S. : 5.5 3.0 -9.8 9.7 10 8 Foreign : 6.0 3.3 -9.1 6.2 9 9 Exports : World : 6.2 1.8 -4.1 3.8 11 7 U.S. : 12.4 2.4 -6.0 6.2 9 9 Foreign : 19.4 1.6 -4.5 2.6 9 9 Domestic use : World : 3.6 4.0 -9.9 6.9 11 7 U.S. : 4.6 1.7 -4.4 4.5 12 6 Foreign : 3.9 2.9 -5.9 4.6 11 7 Ending stocks : World : 13.7 2.4 -4.7 4.9 11 7 U.S. : 29.5 2.0 -4.0 6.6 7 11 Foreign : 15.3 1.6 -3.7 3.5 11 7 : COTTON : Million 480-pound bales Production : World : 4.3 3.5 -13.3 10.3 12 6 U.S. : 8.5 1.3 -2.8 3.6 12 6 Foreign : 4.3 3.0 -12.1 10.5 9 8 Exports : World : 4.9 1.2 -4.1 2.6 8 10 U.S. : 18.9 0.9 -2.1 2.8 11 7 Foreign : 6.7 1.2 -3.4 1.8 6 12 Mill use : World : 2.7 2.2 -7.8 3.7 7 11 U.S. : 7.2 0.6 -1.4 0.8 12 5 Foreign : 2.7 2.0 -7.1 4.0 6 12 Ending stocks : World : 15.6 5.3 -14.3 15.3 12 6 U.S. : 35.5 1.5 -3.4 2.4 8 10 Foreign : 15.6 4.6 -13.9 12.9 13 5 ------------------------------------------------------------------------------- 1/ Final estimate for 1981/82-97/98 is defined as the first November estimate following the marketing year and for 1998/99 last month's estimate. 2/ May not total 18 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. WASDE-352-33 Reliability of United States July Projections 1/ ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-98/99 2/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- CORN :Percent Million bushels Number of years 3/ Production : 9.4 638 -1103 2034 11 7 Exports : 18.3 331 -775 546 7 11 Domestic use : 4.9 287 -558 770 11 7 Ending stocks : 40.6 592 -1840 1343 9 9 : SORGHUM : Production : 11.4 80 -213 171 11 7 Exports : 17.1 41 -115 97 9 9 Domestic use : 11.8 55 -139 113 10 7 Ending stocks : 57.0 82 -174 157 7 11 : BARLEY : Production : 6.2 28 -87 62 6 11 Exports : 34.4 22 -92 43 13 5 Domestic use : 9.2 35 -47 87 9 9 Ending stocks : 21.0 40 -50 114 7 11 : OATS : Production : 10.5 32 -39 144 4 13 Exports : 85.7 2 -5 8 5 9 Domestic use : 6.0 23 -39 67 7 10 Ending stocks : 15.8 20 -33 68 9 9 : : Thousand short tons SOYBEAN MEAL : Production : 4.7 1348 -3271 4432 13 5 Exports : 14.1 926 -2450 1900 9 9 Domestic use : 4.9 1036 -1550 4470 11 7 Ending stocks : 34.7 79 -204 413 6 12 : : Million pounds SOYBEAN OIL : Production : 4.6 626 -1753 1553 11 7 Exports : 25.4 406 -1550 1219 11 7 Domestic use : 3.2 379 -985 758 13 5 Ending stocks : 37.6 487 -916 1568 6 12 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 1.2 287 -258 694 11 6 Pork : 1.0 157 -277 400 8 9 Broilers : 0.7 146 -301 373 11 6 Turkeys : 1.3 50 -122 101 12 5 : : Million dozen Eggs : 0.8 48 -48 115 12 5 : : Billion pounds Milk : 0.6 0.9 -2.7 2.1 7 10 ------------------------------------------------------------------------------- 1/ See pages 31 and 32 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 and for 1998/99 last month's estimtate. 3/ May not total 18 for crops and 17 for animal production if projection was the same as the final estimate. 4/ Calendar years 1983 thru 1998 for meats and eggs; October-September years 1982/83 thru 1997/98 for milk. Final for animal products is defined as latest annual production estimate published by NASS. WASDE-352-34 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 Corn, Sorghum & Rye : = bushels * .025401 Barley : = bushels * .021772 Oats : = bushels * .014515 Sugar : = short tons * .907185 Cotton : = 480-lb bales * .217720 --------------------------------------------------------------------- --- END OF FILE ---