WASDE-357 December 10, 1999 WHEAT: Projected U.S. 1999/2000 ending stocks of wheat are up 25 million bushels from last month. Projected exports are down 25 million bushels due to increased competition. A drop of 5 million bushels in imports is offset by an equivalent reduction in food use. The projected price range is unchanged at $2.45 to $2.55 per bushel. Projected global 1999/2000 production is down marginally from last month as increases for Canada and Argentina are more than offset by reductions for Russia and Pakistan. Global imports are up significantly, led by larger purchases by Iran, Russia, Bangladesh, India, and Israel. Exports are increased from last month for Canada, Argentina, Eastern Europe, and Kazakstan. The United States accounts for most of the month-to-month rise in expected 1999/2000 global ending stocks. COARSE GRAINS: Projected U.S. 1999/2000 feed grain ending stocks are down slightly from last month because of larger use. Ending stocks of corn are down 45 million bushels as feed and residual use is up 50 million bushels and imports are 5 million bushels higher. Projected sorghum exports are up 10 million bushels from last month, with an offsetting reduction in feed and residual use. Smaller barley imports are also offset by reduced feed and residual use. The projected price range for corn is unchanged from last month at $1.60 to $2.00 per bushel. Global 1999/2000 supply, use, and ending stocks projections are little changed from last month. Larger crops in Canada, Australia, EU, and Eastern Europe are offset by reductions for Brazil, Russia, and Thailand. Projected global imports of corn are up marginally and expected exports are raised for Canada and Argentina. Most of the reduction in projected 1999/2000 global ending stocks is due to lower U.S. corn stocks. RICE: U.S. 1999/2000 rice supply and use projections are unchanged from last month. Global production and ending stocks for 1999/2000 are reduced from a month ago, while consumption is raised slightly. The decline in global production, still a record, is the result of smaller crops projected for India, Australia, Chile, and Italy that are partially offset by increases for the Philippines and North Korea. India's crop is reduced by 1 million metric tons because of damage inflicted by a severe cyclone that ravaged portions of the eastern region during October. Despite the crop damage, India's crop is projected at a near-record 84.5 million metric tons. World ending stocks, while still near-record large, are down from a month ago, primarily due to declines in India, Bangladesh, and China. Global exports for 1998/99 are raised, primarily because of increases for Vietnam and China. OILSEEDS: U.S. oilseed production for 1999/2000 is forecast at 83.3 million metric tons, up slightly from last month but down 1.1 million tons from last year. Cottonseed accounts for all of the increase. U.S. soybean supply and use projections are unchanged from last month, leaving stocks at 395 million bushels. Soybean oil domestic use is reduced 100 million pounds this month to 15.8 billion pounds. Increased rapeseed oil imports from Canada are expected to compete with soybean oil in the domestic market. Some slowing of vegetable oil imports by China and India along with large global supplies of palm oil continue to pressure prices for soybean oil. U.S. soybean producer prices are projected at $4.45 to $4.95 per bushel, down 15 cents per bushel from last month, mainly due to weakening vegetable oil prices. U.S. soybean oil prices this month are reduced 0.5 cent to 15.00 to 17.50 cents per pound. Soybean meal prices are unchanged at $140 to $165 per short ton. Global oilseed production is projected at a record 296.9 million metric tons, down 0.2 million tons from last month, but up 3.3 million tons from last year. Record foreign production, projected at 213.6 million tons, is down 0.3 million tons from a month ago and up 4.4 million tons from last year. Declines for soybeans and sunflowerseed are only partially offset by increases in rapeseed. Soybean production is off, mainly due to a reduction in the Bolivian crop, which has been affected by early-season dry weather. Canadian rapeseed production is increased by 0.2 million tons from the November estimate to a record 8.8 million tons, based on official Canadian data. Global consumption trends for protein meals and vegetable oils are largely unchanged from last month, but still reflect strong year-over-year increases. Protein meal and vegetable oil consumption are forecast to grow 3.3 and 5.2 percent, respectively, for 1999/2000. SUGAR: Projected U.S. sugar supply for fiscal year 1999/2000 is down 85,000 short tons, raw value, from last month. Cane sugar production is decreased 160,000 tons because of lower forecast sugarcane yields in Florida and lower than expected sugarcane area for sugar in Louisiana. Area for seed use is higher than expected in Louisiana. Imports are increased 75,000 tons, due to expected increases in sugar imported under the Refined Sugar Re-export Program. The projected carryout stocks-to-use ratio is 16.8 percent, compared with 17.6 percent last month. For 1998/99, imports of sugar in sugar- containing syrups under USHTS 1702904000 are increased 14,695 tons, based on final data from U.S. Customs. LIVESTOCK, POULTRY, AND DAIRY: The forecasts for total U.S. meat production in 1999 and 2000 are nearly unchanged from last month. Increases in forecast 1999 beef and turkey production are more than offset by reduced pork and broiler production forecasts. Based on placements reported in the recent Cattle on Feed report, beef production is raised for the first half of 2000 and lowered for the second half. Pork production forecasts for 2000 are unchanged. The December 28 Hogs and Pigs report will provide a basis for reevaluating the 2000 hog situation. The forecast for broiler production in 2000 is reduced because of lower-than-expected hatchery activity. The hog price forecasts are raised for both 1999 and 2000. Demand for pork products has been stronger than expected and pork production is expected to decline in the coming year. The egg price forecasts for 1999 and 2000 are lowered because of strength in egg production. Dairy supply and demand forecasts are little changed but prices are lowered due to weakness in product prices. The role of the Basic Formula Price (BFP) will end effective Dec. 31, 1999 under Federal order reforms currently being implemented. The BFP will be replaced with a Class III price. The average 1999/2000 "Basic Formula/Class III" price will include the BFP for October-December 1999 and the Class III price from January- September 2000. COTTON: The U.S. cotton situation reflects higher production and exports relative to last month. Estimated production is raised about 350,000 bales to nearly 16.9 million bales, based on increases in Texas and California. Domestic mill use is unchanged at 10.2 million bales. A sharp increase of 500,000 bales in the export estimate--from 5.7 to 6.2 million bales--reflects very strong export sales in recent weeks. Prospective U.S. exports have improved because of higher than average production of short staple export-quality cotton, increased foreign import demand, and the Step 2 program. Ending stocks are reduced to 4.5 million bales, 27.4 percent of total use. Stronger trade highlights this month's world cotton situation. Projected larger crops in India and the United States about offset lower production in South America. The crop estimate for Argentina is reduced sharply as very dry conditions have restricted planted area. Brazil's prospective yield has been reduced due to adverse planting conditions and the effect of current low prices on input use. World consumption is up marginally from last month as increases in Brazil and Indonesia are offset by reductions in Europe and Ukraine. Higher consumption and lower production raise Brazil's import requirements by nearly 500,000 bales, and world exports are adjusted accordingly. World ending stocks are reduced slightly. 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: KEITH J. COLLINS ACTING SECRETARY OF AGRICULTURE * * * * * * * * * * * The next issue of this report will be released 8:30 a.m. ET on January 12, 2000. The World Agricultural Supply and Demand Estimates report will be released on the following dates in 2000: Jan.12, Feb.11, Mar.10, Apr.11, May 12, June 9, July 12, Aug.11, Sept.12, Oct.12, Nov.9, and Dec.12. 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. 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WASDE-357-6 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 : 1,878.84 2,173.86 250.82 1,843.84 330.02 1998/99 (Est.) : 1,870.82 2,200.84 254.41 1,853.60 347.24 1999/00 (Proj.) : November : 1,857.98 2,205.49 257.28 1,858.66 346.83 December : 1,856.56 2,203.80 259.74 1,858.44 345.36 Wheat : 1997/98 : 609.33 724.37 123.99 585.15 139.21 1998/99 (Est.) : 588.66 727.87 120.51 591.87 136.00 1999/00 (Proj.) : November : 584.68 721.17 123.77 590.71 130.46 December : 584.16 720.16 125.59 589.02 131.14 Coarse grains 4/ : 1997/98 : 882.84 1,011.54 99.93 875.40 136.14 1998/99 (Est.) : 890.45 1,026.58 107.70 872.71 153.87 1999/00 (Proj.) : November : 876.46 1,030.12 109.81 873.55 156.57 December : 876.47 1,030.34 110.47 874.81 155.53 Rice, milled : 1997/98 : 386.67 437.96 26.90 383.29 54.67 1998/99 (Est.) : 391.72 446.39 26.21 389.02 57.37 1999/00 (Proj.) : November : 396.84 454.20 23.70 394.40 59.80 December : 395.93 453.30 23.67 394.61 58.68 : : United States Total grains 3/ : 1997/98 : 333.73 379.49 76.29 244.51 58.69 1998/99 (Est.) : 346.99 411.91 87.04 246.80 78.07 1999/00 (Proj.) : November : 335.66 419.64 87.28 245.90 86.47 December : 335.66 419.55 86.85 246.70 86.00 Wheat : 1997/98 : 67.53 82.19 28.32 34.21 19.66 1998/99 (Est.) : 69.33 91.81 28.36 37.70 25.74 1999/00 (Proj.) : November : 62.81 91.41 29.94 34.21 27.27 December : 62.81 91.28 29.26 34.07 27.95 Coarse grains 4/ : 1997/98 : 260.43 290.37 45.25 206.97 38.15 1998/99 (Est.) : 271.53 312.75 55.95 205.19 51.61 1999/00 (Proj.) : November : 265.94 320.25 54.66 208.01 57.59 December : 265.94 320.30 54.91 208.94 56.44 Rice, milled : 1997/98 : 5.77 6.93 2.72 3.33 0.88 1998/99 (Est.) : 6.14 7.35 2.73 3.91 0.72 1999/00 (Proj.) : November : 6.91 7.97 2.68 3.68 1.61 December : 6.91 7.97 2.68 3.68 1.61 =============================================================================== 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-357-7 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 : 1,545.11 1,794.37 174.53 1,599.34 271.33 1998/99 (Est.) : 1,523.83 1,788.93 167.38 1,606.81 269.16 1999/00 (Proj.) : November : 1,522.31 1,785.85 170.01 1,612.76 260.36 December : 1,520.90 1,784.25 172.89 1,611.74 259.35 Wheat : 1997/98 : 541.80 642.18 95.68 550.94 119.55 1998/99 (Est.) : 519.33 636.06 92.15 554.17 110.25 1999/00 (Proj.) : November : 521.87 629.76 93.84 556.50 103.20 December : 521.35 628.88 96.34 554.94 103.20 Coarse grains 5/ : 1997/98 : 622.42 721.17 54.67 668.43 97.99 1998/99 (Est.) : 618.92 713.83 51.75 667.52 102.26 1999/00 (Proj.) : November : 610.52 709.86 55.15 665.54 98.98 December : 610.53 710.04 55.56 665.87 99.09 Rice, milled : 1997/98 : 380.90 431.03 24.18 379.96 53.79 1998/99 (Est.) : 385.58 439.03 23.48 385.11 56.65 1999/00 (Proj.) : November : 389.92 446.23 21.02 390.72 58.19 December : 389.01 445.32 21.00 390.93 57.07 =============================================================================== 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 : 91.63 129.82 26.65 88.39 40.77 1998/99 (Est.) : 84.54 125.31 23.59 85.10 41.66 1999/00 (Proj.) : November : 87.35 129.31 25.69 87.82 41.34 December : 87.38 129.04 26.14 87.89 41.15 : United States 1997/98 : 18.79 22.78 7.50 11.35 3.89 1998/99 (Est.) : 13.92 18.25 4.34 10.40 3.94 1999/00 (Proj.) : November : 16.53 20.55 5.70 10.20 4.60 December : 16.88 20.89 6.20 10.20 4.50 : Foreign 3/ 1997/98 : 72.84 107.04 19.15 77.04 36.89 1998/99 (Est.) : 70.62 107.06 19.24 74.70 37.72 1999/00 (Proj.) : November : 70.82 108.76 19.99 77.62 36.74 December : 70.51 108.15 19.94 77.69 36.65 =============================================================================== 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-357-8 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 : 286.97 304.07 53.80 227.49 24.80 1998/99 (Est.) : 293.59 318.40 54.66 237.99 28.29 1999/00 (Proj.) : November : 297.12 325.64 56.85 246.31 27.80 December : 296.92 325.20 57.09 246.24 27.62 Oilmeals : 1997/98 : 155.13 160.99 51.84 155.30 5.82 1998/99 (Est.) : 163.02 168.84 54.49 162.50 6.35 1999/00 (Proj.) : November : 168.15 174.48 55.80 167.89 6.01 December : 168.19 174.54 55.88 167.88 6.03 Vegetable Oils : 1997/98 : 76.49 83.93 29.83 75.94 7.17 1998/99 (Est.) : 81.74 88.92 31.11 80.54 7.97 1999/00 (Proj.) : November : 85.62 93.11 32.16 84.91 7.50 December : 85.61 93.58 32.34 84.75 7.93 : : United States Oilseeds : 1997/98 : 83.10 88.42 24.52 48.89 6.44 1998/99 (Est.) : 84.38 91.51 22.63 47.81 10.77 1999/00 (Proj.) : November : 83.16 94.45 24.55 48.90 12.01 December : 83.28 94.58 24.55 48.95 12.05 Oilmeals : 1997/98 : 37.42 39.01 8.70 30.01 0.30 1998/99 (Est.) : 36.82 38.37 6.71 31.32 0.33 1999/00 (Proj.) : November : 37.48 39.14 6.96 31.90 0.28 December : 37.50 39.26 6.96 32.02 0.28 Vegetable Oils : 1997/98 : 9.60 12.22 2.13 9.10 0.99 1998/99 (Est.) : 9.54 11.98 1.74 9.23 1.01 1999/00 (Proj.) : November : 9.67 12.27 1.51 9.52 1.24 December : 9.68 12.32 1.51 9.53 1.28 : : Foreign 3/ Oilseeds : 1997/98 : 203.88 215.65 29.28 178.60 18.36 1998/99 (Est.) : 209.22 226.89 32.02 190.18 17.52 1999/00 (Proj.) : November : 213.96 231.19 32.30 197.40 15.79 December : 213.63 230.62 32.54 197.30 15.57 Oilmeals : 1997/98 : 117.71 121.99 43.14 125.29 5.52 1998/99 (Est.) : 126.20 130.47 47.78 131.18 6.02 1999/00 (Proj.) : November : 130.67 135.35 48.84 135.99 5.73 December : 130.69 135.29 48.92 135.86 5.75 Vegetable Oils : 1997/98 : 66.89 71.71 27.70 66.84 6.18 1998/99 (Est.) : 72.20 76.94 29.38 71.31 6.96 1999/00 (Proj.) : November : 75.95 80.84 30.65 75.39 6.26 December : 75.93 81.27 30.83 75.23 6.65 =============================================================================== 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-357-9 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :============================== : : Est. : November December =============================================================================== Area : Million acres Planted : 70.4 65.8 63.0 63.0 Harvested : 62.8 59.0 54.1 54.1 Yield per harvested : Bushels acre : 39.5 43.2 42.7 42.7 : Million bushels Beginning stocks : 444 722 946 946 Production : 2,481 2,547 2,308 2,308 Imports : 95 103 105 100 Supply, total : 3,020 3,373 3,359 3,354 Food : 914 908 915 910 Seed : 92 81 92 92 Feed and residual : 251 396 250 250 Domestic, total : 1,257 1,385 1,257 1,252 Exports : 1,040 1,042 1,100 1,075 Use, total : 2,298 2,427 2,357 2,327 Ending stocks : 722 946 1,002 1,027 CCC inventory : 94 128 100 100 Free stocks : 628 818 902 927 Avg. farm price ($/bu) 2/ : 3.38 2.65 2.45- 2.55 2.45- 2.55 =============================================================================== 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 : 1,179 486 443 301 138 2,547 Supply, total 3/ : 1,487 765 523 401 197 3,373 Domestic use : 600 287 284 116 98 1,385 Exports : 452 245 103 198 44 1,042 Use, total : 1,052 532 387 314 142 2,427 Ending stocks, total : 435 233 136 87 55 946 : 1999/00 (projected) : Beginning stocks : 435 233 136 87 55 946 Production : 1,055 454 452 247 100 2,308 Supply, total 3/ : 1,491 744 588 341 190 3,354 Domestic use : 520 284 268 96 84 1,252 Exports : 515 235 135 150 40 1,075 Use, total : 1,034 518 404 246 124 2,327 Ending stocks, total : December : 457 225 184 94 66 1,027 November : 452 217 184 85 63 1,002 =============================================================================== 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-357-10 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :============================== : : Est. : November December =============================================================================== FEED GRAINS : Area : Million acres Planted : 101.4 101.0 96.8 96.8 Harvested : 90.8 88.9 86.6 86.6 Yield per harvested : Metric tons acre : 2.87 3.05 3.07 3.07 : Million metric tons Beginning stocks : 27.0 38.1 51.5 51.5 Production : 260.2 271.2 265.7 265.7 Imports : 2.8 3.0 2.6 2.6 Supply, total : 290.0 312.3 319.8 319.9 Feed and residual : 154.8 152.3 153.4 154.3 Food, seed & industrial : 51.8 52.5 54.3 54.3 Domestic, total : 206.6 204.8 207.6 208.5 Exports : 45.3 55.9 54.7 54.9 Use, total : 251.9 260.8 262.3 263.5 Ending stocks, total : 38.1 51.5 57.5 56.4 CCC inventory : 0.1 0.3 0.4 0.4 Free stocks : 38.0 51.2 57.1 56.0 Outstanding loans : 8.5 10.3 11.7 11.7 : CORN : Area : Million acres Planted : 79.5 80.2 77.6 77.6 Harvested : 72.7 72.6 70.9 70.9 Yield per harvested : Bushels acre : 126.7 134.4 134.5 134.5 : Million bushels Beginning stocks : 883 1,308 1,796 1,796 Production : 9,207 9,761 9,537 9,537 Imports : 9 19 10 15 Supply, total : 10,099 11,088 11,344 11,349 Feed and residual : 5,505 5,489 5,500 5,550 Food, seed & industrial : 1,782 1,822 1,880 1,880 Domestic, total : 7,287 7,311 7,380 7,430 Exports : 1,504 1,981 1,925 1,925 Use, total : 8,791 9,291 9,305 9,355 Ending stocks, total : 1,308 1,796 2,039 1,994 CCC inventory : 4 12 15 15 Free stocks : 1,304 1,784 2,024 1,979 Outstanding loans : 310 391 450 450 Avg. farm price ($/bu) 2/ : 2.43 1.94 1.60- 2.00 1.60- 2.00 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. WASDE-357-11 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :============================== : : Est. : November December =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 10.1 9.6 9.3 9.3 Area harv. (mil. acres) : 9.2 7.7 8.5 8.5 Yield (bushels/acre) : 69.2 67.3 70.1 70.1 Beginning stocks : 47 49 65 65 Production : 634 520 596 596 Imports : 0 0 0 0 Supply, total : 681 569 661 661 Feed and residual : 365 262 325 315 Food, seed & industrial : 55 45 55 55 Total domestic : 420 307 380 370 Exports : 212 197 200 210 Use, total : 632 504 580 580 Ending stocks, total : 49 65 81 81 Avg. farm price ($/bu) 2/ : 2.21 1.66 1.35- 1.75 1.35- 1.75 : BARLEY : Area planted (mil. acres) : 6.7 6.3 5.2 5.2 Area harv. (mil. acres) : 6.2 5.9 4.8 4.8 Yield (bushels/acre) : 58.1 60.0 59.2 59.2 Beginning stocks : 109 119 142 142 Production : 360 352 282 282 Imports : 40 30 30 25 Supply, total : 510 501 454 449 Feed and residual : 144 161 125 120 Food, seed & industrial : 172 170 172 172 Total domestic : 316 331 297 292 Exports : 74 28 30 30 Use, total : 390 360 327 322 Ending stocks, total : 119 142 127 127 Avg. farm price ($/bu) 2/ : 2.38 1.98 1.80- 2.20 1.90- 2.20 : OATS : Area planted (mil. acres) : 5.1 4.9 4.7 4.7 Area harv. (mil. acres) : 2.8 2.8 2.5 2.5 Yield (bushels/acre) : 59.5 60.2 59.7 59.7 Beginning stocks : 67 74 81 81 Production : 167 166 147 147 Imports : 98 108 100 100 Supply, total : 332 348 328 328 Feed and residual : 161 170 165 165 Food, seed & industrial : 95 95 96 96 Total domestic : 256 265 261 261 Exports : 2 2 2 2 Use, total : 258 266 263 263 Ending stocks, total : 74 81 65 65 Avg. farm price ($/bu) 2/ : 1.60 1.10 1.05- 1.15 1.05- 1.15 =============================================================================== 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-357-12 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :============================== : : Est. : November December =============================================================================== TOTAL : Area : Million acres Planted : 3.13 3.35 3.60 3.60 Harvested : 3.10 3.32 3.57 3.57 Yield per harvested : Pounds acre : 5,897 5,669 5,929 5,929 : Million hundredweight Beginning stocks 2/ : 27.2 27.9 22.0 22.0 Production : 183.0 188.1 211.7 211.7 Imports : 9.2 10.5 10.8 10.8 Supply, total : 219.4 226.5 244.4 244.4 Domestic & residual 3/ : 105.2 120.9 113.0 113.0 Exports, total 4/ : 86.3 83.6 82.0 82.0 Rough : 26.1 25.8 16.0 16.0 Milled (rough equiv.) : 60.2 57.9 66.0 66.0 Use, total : 191.5 204.5 195.0 195.0 Ending stocks : 27.9 22.0 49.4 49.4 Avg. farm price ($/cwt) 5/ : 9.70 8.83 5.50- 6.00 5.50- 6.00 : LONG GRAIN : Harvested acres (mil.) : 2.31 2.61 Yield (pounds/acre) : 5,391 5,430 Beginning stocks : 14.1 14.5 13.9 13.9 Production : 124.5 141.6 152.0 152.0 Supply, total 6/ : 146.6 164.6 175.5 175.5 Domestic & Residual 3/ : 60.7 81.6 73.0 73.0 Exports 7/ : 71.4 69.1 66.0 66.0 Use, total : 132.1 150.7 139.0 139.0 Ending stocks : 14.5 13.9 36.5 36.5 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.79 0.71 Yield (pounds/acre) : 7,369 6,548 Beginning stocks : 12.1 12.3 6.9 6.9 Production : 58.5 46.4 59.7 59.7 Supply, total 6/ : 71.7 60.7 67.8 67.8 Domestic & Residual 3/ : 44.5 39.3 40.0 40.0 Exports 7/ : 14.9 14.5 16.0 16.0 Use, total : 59.4 53.8 56.0 56.0 Ending stocks : 12.3 6.9 11.8 11.8 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning August 1. Average milling yield used by year (in percent): 1997/98-69.5; 1998/99-72.0; 1999/00-72.0. 2/ Includes the following quantities of broken kernel rice (type undetermined) not included in estimates of beginning stocks by type (in mil. cwt): 1997/98-1.0; 1998/99-1.0; 1999/00-1.2. 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-357-13 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :=============================== : : Est. : November December =============================================================================== SOYBEANS: : Million acres Area : Planted : 70.0 72.0 74.1 74.1 Harvested : 69.1 70.4 72.8 72.8 : : Bushels Yield per harvested : acre : 38.9 38.9 36.7 36.7 : : Million bushels : Beginning stocks : 132 200 348 348 Production : 2,689 2,741 2,673 2,673 Imports : 5 3 3 3 Supply, total : 2,826 2,944 3,024 3,024 Crushings : 1,597 1,590 1,610 1,610 Exports : 873 801 865 865 Seed : 86 89 90 90 Residual : 70 116 64 64 Use, total : 2,626 2,596 2,629 2,629 Ending stocks : 200 348 395 395 Avg. farm price ($/bu) 2/ : 6.47 4.93 4.60- 5.10 4.45 - 4.95 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,520 1,382 1,526 1,520 Production : 18,143 18,081 _3/ 18,115 18,115 Imports : 60 82 79 80 Supply, total : 19,723 19,546 19,720 19,715 Domestic : 15,262 15,655 15,900 15,800 Exports : 3,079 2,372 1,800 1,800 Use, total : 18,341 18,027 17,700 17,600 Ending stocks : 1,382 1,520 2,020 2,115 Average price (c/lb) 2/ : 25.84 19.90 15.50- 15.00- : 18.00 17.50 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 210 218 330 330 Production : 38,176 37,792 _3/ 38,270 38,270 Imports : 56 99 50 50 Supply, total : 38,443 38,109 38,650 38,650 Domestic : 28,895 30,662 31,000 31,000 Exports : 9,329 7,117 7,400 7,400 Use, total : 38,225 37,779 38,400 38,400 Ending stocks : 218 330 250 250 Average price ($/s.t.) 2/ : 185.54 138.50 140.00- 140.00- : 165.00 165.00 =============================================================================== 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/ Based on October year crush estimate of 1,599.6 million bushels. WASDE-357-14 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :====================== : : Estimate : November December ====================================================================== : 1,000 short tons, raw value Beginning stocks 2/ : 1,488 1,679 1,639 1,639 Production 2/3/ : 8,020 8,374 8,905 8,745 Beet sugar : 4,389 4,423 4,650 4,650 Cane sugar 4/ : 3,631 3,951 4,255 4,095 Imports 2/ : 2,163 1,820 1,720 1,795 TRQ 5/ : 1,729 1,252 1,225 1,225 Other 6/ : 434 568 495 570 Total supply : 11,671 11,873 12,264 12,179 : Exports 2/7/ : 179 230 175 175 Domestic deliveries 2/ : 9,815 10,066 10,250 10,250 Domestic food use : 9,672 9,872 10,053 10,053 Other 8/ : 143 194 197 197 Miscellaneous 9/ : (2) (62) 0 0 Use, total : 9,992 10,234 10,425 10,425 Ending stocks 2/ : 1,679 1,639 1,839 1,754 : Stocks to use ratio : 16.8 16.0 17.6 16.8 ====================================================================== 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 December Crop Production and analyses by the Interagency Commodity Estimates Committee for sugar. 4/ Production by state for 1998/99 (projected 1999/2000): FL 2,132 (2,030); HI 384 (360); LA 1,327 (1,600); TX 106 (100); PR 3 (5). 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 1999/2000 available TRQ includes projected shortfall of 65,000 tons. 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-357-15 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 1999/00 Projections Item : 1997/98 : 1998/99 :=============================== : : Est. : November December =============================================================================== : Million acres Area : Planted : 13.90 13.39 14.60 14.60 Harvested : 13.41 10.68 13.41 13.41 : : Pounds Yield per harvested : acre : 673 625 592 604 : : Million 480 pound bales : Beginning stocks 2/ : 3.97 3.89 3.94 3.94 Production : 18.79 13.92 16.53 16.88 Imports : 0.01 0.44 0.08 0.08 Supply, total : 22.78 18.25 20.55 20.89 Domestic use : 11.35 10.40 10.20 10.20 Exports : 7.50 4.34 5.70 6.20 Use, total : 18.85 14.75 15.90 16.40 Unaccounted 3/ : 0.04 -0.44 0.05 -0.01 Ending stocks : 3.89 3.94 4.60 4.50 : Avg. farm price 4/ : 65.2 60.2 47.1 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 for upland cotton. 5/ Weighted average for August-October 1999; USDA is prohibited by law from publishing cotton price projections. =============================================================================== Note: Public Law 106-78, signed October 22, 1999, requires the Secretary of Agriculture to estimate and report the U.S. upland cotton season-ending stocks-to-use ratio, excluding projected raw cotton imports but including the quantity of raw cotton imports that has been imported during the marketing year. Pursuant to this requirement, the estimated ratio for 1999/2000 is 26.7 percent. WASDE-357-16 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/ : 115.04 609.33 124.31 103.97 585.15 123.99 139.21 United States : 12.07 67.53 2.58 6.82 34.21 28.32 19.66 Total foreign : 102.97 541.80 121.73 97.15 550.94 95.68 119.55 Major exporters 4/ : 27.00 152.68 25.98 48.02 99.65 82.18 23.83 Argentina : 0.80 14.80 0.03 0.35 4.55 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 3.35 7.31 20.13 6.01 EU-15 : 14.76 94.18 25.78 41.57 82.64 36.03 16.05 Major importers 5/ : 40.02 187.20 38.07 17.97 210.35 4.52 50.41 Brazil : 0.58 2.38 6.27 0.00 8.68 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 1.84 11.36 32.03 2.91 7.66 N. Africa : 5.12 9.95 17.72 0.31 28.29 0.09 4.41 Pakistan : 2.70 16.65 4.13 0.35 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/ : 7.52 80.34 6.62 24.90 72.98 5.74 15.76 Russia : 1.65 44.20 3.03 16.40 39.94 0.86 8.08 Kazakstan : 2.22 8.95 0.01 1.20 4.82 3.38 2.99 : : 1998/99 (Estimated) : World 3/ : 139.21 588.66 119.97 107.24 591.87 120.51 136.00 United States : 19.66 69.33 2.82 10.79 37.70 28.36 25.74 Total foreign : 119.55 519.33 117.15 96.46 554.17 92.15 110.25 Major exporters 4/ : 23.83 161.22 24.56 52.34 103.94 75.16 30.51 Argentina : 0.42 12.00 0.03 0.10 4.15 8.00 0.30 Australia : 1.35 22.11 0.03 2.79 5.09 16.00 2.40 Canada : 6.01 24.08 0.20 4.22 8.22 14.71 7.37 EU-15 : 16.05 103.04 24.31 45.24 86.50 36.46 20.44 Major importers 5/ : 50.41 179.11 36.18 19.37 214.93 4.65 46.13 Brazil : 0.54 2.20 7.00 0.20 9.20 0.00 0.54 China : 33.37 109.73 1.00 5.00 116.00 0.26 27.84 East. Europe : 7.66 33.74 2.10 12.51 33.04 3.90 6.55 N. Africa : 4.41 14.18 17.00 0.31 29.15 0.09 6.36 Pakistan : 3.21 18.69 3.20 0.40 21.25 0.00 3.85 Selected other : India : 10.08 65.91 1.99 0.35 67.34 0.00 10.64 FSU-12 6/ : 15.76 56.04 5.68 17.77 64.57 7.72 5.19 Russia : 8.08 26.90 2.50 11.15 35.15 1.20 1.13 Kazakstan : 2.99 4.70 0.00 1.30 4.70 2.07 0.92 =============================================================================== 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-357-17 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/ : November : 136.49 584.68 122.70 102.72 590.71 123.77 130.46 December : 136.00 584.16 124.08 100.99 589.02 125.59 131.14 United States : November : 25.74 62.81 2.86 6.80 34.21 29.94 27.27 December : 25.74 62.81 2.72 6.80 34.07 29.26 27.95 Total foreign : November : 110.75 521.87 119.85 95.91 556.50 93.84 103.20 December : 110.25 521.35 121.36 94.18 554.94 96.34 103.20 Major exporters 4/ : November : 29.91 159.44 25.50 55.16 106.90 82.70 25.24 December : 30.51 160.91 25.50 54.73 106.40 84.20 26.32 Argentina Nov : 0.30 14.00 0.03 0.30 4.53 9.50 0.30 Dec : 0.30 14.50 0.03 0.30 4.50 10.00 0.33 Australia Nov : 1.40 23.00 0.03 2.80 5.10 18.00 1.33 Dec : 2.40 23.00 0.03 2.80 5.10 18.00 2.33 Canada Nov : 7.37 26.00 0.20 4.70 8.70 17.50 7.37 Dec : 7.37 26.85 0.20 4.50 8.50 18.50 7.42 EU-15 Nov : 20.85 96.44 25.25 47.36 88.58 37.70 16.25 Dec : 20.44 96.56 25.25 47.13 88.30 37.70 16.25 Major importers 5/ : November : 46.13 176.09 35.60 17.11 214.52 2.51 40.80 December : 46.13 175.74 35.60 17.11 213.67 3.21 40.60 Brazil Nov : 0.54 2.20 7.00 0.10 9.20 0.00 0.54 Dec : 0.54 2.20 7.00 0.10 9.20 0.00 0.54 China Nov : 27.84 115.00 1.00 5.00 117.00 0.50 26.34 Dec : 27.84 115.00 1.00 5.00 117.00 0.50 26.34 East. Europe Nov : 6.55 28.73 2.30 10.35 31.02 1.53 5.03 Dec : 6.55 28.73 2.30 10.35 30.52 2.23 4.83 N. Africa Nov : 6.36 11.36 16.40 0.31 29.20 0.09 4.84 Dec : 6.36 11.36 16.40 0.31 29.20 0.09 4.84 Pakistan Nov : 3.86 18.20 3.00 0.40 21.90 0.00 3.16 Dec : 3.85 17.85 3.00 0.40 21.55 0.00 3.16 Selected other : India Nov : 10.64 71.50 1.30 0.35 69.05 0.20 14.19 Dec : 10.64 71.50 1.70 0.35 69.25 0.20 14.39 FSU-12 6/ Nov : 6.27 65.93 6.23 16.83 63.62 5.60 9.20 Dec : 5.19 64.43 6.73 15.83 62.31 6.10 7.93 Russia Nov : 1.13 32.00 2.50 10.30 34.30 0.30 1.03 Dec : 1.13 30.50 3.00 9.30 33.30 0.30 1.03 Kazakstan Nov : 2.32 11.00 0.00 1.80 5.20 2.80 5.32 Dec : 0.92 11.00 0.00 1.80 4.89 3.30 3.73 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in 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-357-18 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/ : 128.70 882.84 99.01 583.19 875.40 99.93 136.14 United States : 27.01 260.43 2.94 154.98 206.97 45.25 38.15 Total foreign : 101.69 622.42 96.07 428.21 668.43 54.67 97.99 Major exporters 4/ : 9.07 67.35 1.87 36.76 46.97 22.06 9.26 Argentina : 1.11 24.67 0.07 7.72 9.85 13.70 2.30 Australia : 0.67 9.52 0.00 4.49 5.72 3.34 1.14 Canada : 4.85 25.12 1.52 19.96 23.46 3.75 4.27 Major importers 5/ : 27.81 207.27 63.01 173.26 235.57 21.98 40.54 EU-15 : 12.21 109.43 16.38 74.50 97.82 17.99 22.21 East. Europe : 5.17 58.97 1.21 41.71 53.27 3.02 9.05 Japan : 2.12 0.20 20.98 16.24 20.66 0.00 2.64 Mexico : 3.70 23.11 7.98 16.34 31.58 0.36 2.85 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/ : 3.17 67.86 0.47 36.39 56.34 3.06 12.09 Russia : 1.20 40.85 0.29 21.65 33.50 1.57 7.27 Ukraine : 1.13 15.46 0.01 6.82 12.21 1.12 3.26 : : 1998/99 (Estimated) : World 3/ : 136.14 890.45 107.61 576.67 872.71 107.70 153.87 United States : 38.15 271.53 3.07 152.45 205.19 55.95 51.61 Total foreign : 97.98 618.92 104.54 424.22 667.52 51.75 102.26 Major exporters 4/ : 9.26 61.42 1.88 36.92 46.70 17.10 8.77 Argentina : 2.30 17.74 0.05 7.90 10.00 8.48 1.62 Australia : 1.14 9.60 0.00 4.53 5.37 4.72 0.66 Canada : 4.27 26.57 0.83 19.93 23.37 3.21 5.09 Major importers 5/ : 40.53 199.62 64.88 174.30 238.17 27.46 39.40 EU-15 : 22.21 105.42 17.07 73.58 97.10 24.25 23.35 East. Europe : 9.05 51.12 1.54 40.96 52.36 2.92 6.44 Japan : 2.64 0.15 20.63 16.34 20.98 0.00 2.44 Mexico : 2.85 24.54 9.12 17.55 33.66 0.05 2.80 Southeast Asia : 0.94 15.94 3.23 13.10 18.21 0.25 1.65 South Korea : 0.50 0.49 7.75 6.05 8.25 0.00 0.48 Selected other : China : 27.10 145.10 2.87 96.05 131.60 3.35 40.12 FSU-12 6/ : 12.09 37.84 1.48 25.96 45.00 1.88 4.53 Russia : 7.27 18.95 1.40 13.70 25.65 0.20 1.77 Ukraine : 3.26 10.45 0.00 5.93 11.02 1.11 1.59 =============================================================================== 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-357-19 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/ : November : 153.66 876.46 105.32 575.35 873.55 109.81 156.57 December : 153.87 876.47 106.72 577.61 874.81 110.47 155.53 United States : November : 51.61 265.94 2.71 153.48 208.01 54.66 57.59 December : 51.61 265.94 2.75 154.41 208.94 54.91 56.44 Total foreign : November : 102.05 610.52 102.61 421.88 665.54 55.15 98.98 December : 102.26 610.53 103.97 423.21 665.87 55.56 99.09 Major exporters 4/ : November : 8.71 62.51 1.35 36.30 46.59 17.59 8.39 December : 8.77 63.57 1.35 36.85 47.08 18.12 8.49 Argentina Nov : 1.59 19.90 0.05 8.10 10.11 9.88 1.55 Dec : 1.62 19.90 0.05 8.10 10.11 9.88 1.58 Australia Nov : 0.63 7.66 0.00 3.71 4.60 3.09 0.59 Dec : 0.66 8.01 0.00 4.01 4.89 3.12 0.66 Canada Nov : 5.09 26.00 1.05 20.03 23.77 3.53 4.85 Dec : 5.09 26.77 1.05 20.30 24.03 4.03 4.85 Major importers 5/ : November : 39.19 196.71 63.62 173.46 235.58 29.31 34.64 December : 39.40 197.55 64.50 175.12 237.39 29.21 34.85 EU-15 Nov : 23.27 101.79 16.88 72.56 96.06 25.69 20.19 Dec : 23.35 102.43 16.88 73.01 96.65 25.69 20.32 East. Europe Nov : 6.44 51.13 1.33 39.05 49.94 3.32 5.64 Dec : 6.44 51.33 1.33 39.43 50.34 3.22 5.54 Japan Nov : 2.56 0.16 20.29 16.09 20.59 0.00 2.42 Dec : 2.44 0.16 20.39 16.19 20.69 0.00 2.30 Mexico Nov : 2.60 26.18 8.18 18.60 34.05 0.05 2.85 Dec : 2.80 26.18 8.28 18.80 34.25 0.05 2.95 Southeast Asia Nov : 1.70 15.11 3.15 13.69 18.42 0.25 1.29 Dec : 1.65 15.06 3.55 13.94 18.67 0.25 1.34 South Korea Nov : 0.48 0.49 8.66 6.91 9.11 0.00 0.52 Dec : 0.48 0.49 8.66 6.91 9.11 0.00 0.52 Selected other : China Nov : 40.12 139.10 3.05 97.95 134.30 5.05 42.92 Dec : 40.12 139.10 3.05 97.97 134.32 5.03 42.92 FSU-12 6/ Nov : 4.53 41.57 1.34 23.69 40.95 2.04 4.45 Dec : 4.53 41.07 1.34 23.46 40.65 2.04 4.25 Russia Nov : 1.77 22.90 1.15 12.40 24.55 0.25 1.02 Dec : 1.77 22.40 1.15 12.10 24.25 0.25 0.82 Ukraine Nov : 1.59 9.70 0.00 5.68 8.97 1.01 1.31 Dec : 1.59 9.70 0.00 5.68 8.97 1.01 1.31 =============================================================================== 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-357-20 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/ : 92.94 574.87 71.13 407.95 581.33 71.55 86.48 United States : 22.43 233.86 0.22 139.83 185.09 38.21 33.22 Total foreign : 70.51 341.01 70.90 268.12 396.24 33.34 53.26 Major exporters 4/ : 3.20 26.90 0.10 9.04 13.64 13.47 3.09 Argentina : 0.75 19.36 0.00 4.80 6.35 12.22 1.54 South Africa : 2.45 7.54 0.10 4.24 7.29 1.25 1.55 Major importers 5/ : 13.61 101.20 47.31 94.95 132.87 12.47 16.78 EU-15 : 3.28 38.52 10.22 30.74 38.87 8.81 4.34 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/ : 86.48 605.05 75.66 408.80 583.04 75.25 108.49 United States : 33.22 247.94 0.48 139.42 185.70 50.31 45.63 Total foreign : 53.26 357.11 75.18 269.38 397.34 24.94 62.86 Major exporters 4/ : 3.09 20.60 0.85 9.25 13.90 8.50 2.14 Argentina : 1.54 13.50 0.00 4.90 6.50 7.80 0.74 South Africa : 1.55 7.10 0.85 4.35 7.40 0.70 1.40 Major importers 5/ : 16.78 94.15 49.61 94.80 134.16 11.36 15.03 EU-15 : 4.34 35.04 11.16 29.92 38.04 8.61 3.89 Japan : 1.45 0.00 16.34 12.10 16.44 0.00 1.36 Mexico : 1.50 17.60 5.61 7.51 23.01 0.05 1.65 Southeast Asia : 0.94 15.74 3.23 12.91 18.01 0.25 1.65 South Korea : 0.50 0.08 7.52 5.92 7.62 0.00 0.48 Selected other : China : 26.00 132.95 0.27 93.02 117.27 3.34 38.62 FSU-12 6/ : 2.68 5.29 0.70 4.32 6.94 0.40 1.33 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-357-21 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/ : November : 108.13 600.67 73.25 414.50 592.73 77.46 116.07 December : 108.49 600.72 74.38 416.43 593.83 77.96 115.38 United States : November : 45.63 242.25 0.25 139.71 187.46 48.90 51.78 December : 45.63 242.25 0.38 140.98 188.73 48.90 50.64 Total foreign : November : 62.50 358.42 73.00 274.80 405.27 28.56 64.29 December : 62.86 358.47 74.00 275.45 405.10 29.06 64.75 Major exporters 4/ : November : 2.11 24.00 0.10 9.15 14.00 10.10 2.11 December : 2.14 24.00 0.10 9.15 14.00 10.10 2.14 Argentina Nov : 0.71 15.50 0.00 4.90 6.50 9.00 0.71 Dec : 0.74 15.50 0.00 4.90 6.50 9.00 0.74 South Africa Nov : 1.40 8.50 0.10 4.25 7.50 1.10 1.40 Dec : 1.40 8.50 0.10 4.25 7.50 1.10 1.40 Major importers 5/ : November : 14.70 97.08 48.13 96.32 134.25 12.29 13.37 December : 15.03 97.83 48.83 97.67 135.60 12.29 13.80 EU-15 Nov : 3.69 35.92 10.81 30.35 38.44 9.06 2.91 Dec : 3.89 36.22 10.81 30.55 38.64 9.06 3.21 Japan Nov : 1.36 0.00 16.25 12.15 16.35 0.00 1.26 Dec : 1.36 0.00 16.25 12.15 16.35 0.00 1.26 Mexico Nov : 1.55 19.00 4.70 7.95 23.00 0.05 2.20 Dec : 1.65 19.00 4.70 8.05 23.10 0.05 2.20 Southeast Asia Nov : 1.70 14.91 3.15 13.50 18.22 0.25 1.29 Dec : 1.65 14.86 3.55 13.75 18.47 0.25 1.34 South Korea Nov : 0.48 0.09 8.25 6.60 8.30 0.00 0.52 Dec : 0.48 0.09 8.25 6.60 8.30 0.00 0.52 Selected other : China Nov : 38.62 128.00 0.25 95.00 119.95 5.00 41.92 Dec : 38.62 128.00 0.25 95.00 119.95 5.00 41.92 FSU-12 6/ Nov : 1.33 4.21 0.55 3.44 4.76 0.25 1.08 Dec : 1.33 4.21 0.55 3.44 4.76 0.25 1.08 Russia Nov : 0.16 1.00 0.50 0.85 1.55 0.00 0.11 Dec : 0.16 1.00 0.50 0.85 1.55 0.00 0.11 =============================================================================== 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-357-22 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/ : 51.29 386.67 24.71 383.29 26.90 54.67 United States : 0.87 5.77 0.29 3.33 2.72 0.88 Total foreign : 50.42 380.90 24.42 379.96 24.18 53.79 Major exporters 4/ : 10.65 121.24 0.00 104.67 15.54 11.67 Thailand : 0.71 15.51 0.00 8.80 6.37 1.05 Vietnam : 0.00 19.09 0.00 15.32 3.78 0.00 Major importers 5/ : 5.97 49.26 13.92 60.94 1.41 6.80 Indonesia : 1.53 31.12 6.08 35.20 0.00 3.53 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/ : 54.67 391.72 25.32 389.02 26.21 57.37 United States : 0.88 6.14 0.33 3.91 2.73 0.72 Total foreign : 53.79 385.58 24.99 385.11 23.48 56.65 Major exporters 4/ : 11.67 124.43 0.00 107.86 15.80 12.45 Thailand : 1.05 15.05 0.00 8.90 6.10 1.10 Vietnam : 0.00 19.97 0.00 15.47 4.50 0.00 Major importers 5/ : 6.80 52.45 12.51 61.97 1.23 8.56 Indonesia : 3.53 32.10 3.90 35.50 0.00 4.03 Selected other : China : 26.72 139.10 0.20 136.75 2.80 26.47 Japan : 3.05 8.15 0.75 9.20 0.40 2.35 : : 1999/00 (Projected) World 3/ : November : 57.36 396.84 22.77 394.40 23.70 59.80 December : 57.37 395.93 22.31 394.61 23.67 58.68 United States : November : 0.72 6.91 0.34 3.68 2.68 1.61 December : 0.72 6.91 0.34 3.68 2.68 1.61 Total foreign : November : 56.64 389.92 22.43 390.72 21.02 58.19 December : 56.65 389.01 21.97 390.93 21.00 57.07 Major exporters 4/ : November : 12.30 125.50 0.00 109.85 13.40 14.55 December : 12.45 124.50 0.00 109.35 13.40 14.20 Thailand Nov : 1.10 15.40 0.00 9.00 5.80 1.70 Dec : 1.10 15.40 0.00 9.00 5.80 1.70 Vietnam Nov : 0.00 19.80 0.00 15.70 4.10 0.00 Dec : 0.00 19.80 0.00 15.70 4.10 0.00 Major importers 5/ : November : 8.51 52.24 10.92 62.68 1.16 7.84 December : 8.56 52.47 10.77 62.83 1.16 7.82 Indonesia Nov : 4.03 32.10 3.00 35.70 0.00 3.43 Dec : 4.03 32.10 3.00 35.70 0.00 3.43 Selected other : China Nov : 26.77 141.00 0.40 138.00 2.75 27.42 Dec : 26.47 141.00 0.40 138.00 2.85 27.02 Japan Nov : 2.35 8.35 0.72 9.45 0.40 1.57 Dec : 2.35 8.35 0.72 9.45 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-357-23 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/ : 13.46 158.07 38.97 125.97 148.40 40.51 21.60 United States : 3.59 73.18 0.14 43.46 47.70 23.76 5.44 Total foreign : 9.87 84.90 38.84 82.51 100.70 16.75 16.16 Major exporters 3/ : 7.40 54.99 2.15 33.33 36.44 14.37 13.73 Argentina : 3.40 19.50 1.25 12.93 13.69 3.23 7.23 Brazil : 4.00 32.50 0.90 19.90 22.15 8.75 6.50 Major importers 4/ : 1.78 18.28 29.63 34.77 46.94 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/ : 21.60 158.93 39.34 133.00 156.69 39.16 24.01 United States : 5.44 74.60 0.08 43.26 48.83 21.81 9.47 Total foreign : 16.16 84.33 39.26 89.74 107.86 17.35 14.54 Major exporters 3/ : 13.73 53.90 1.10 39.02 42.08 14.53 12.12 Argentina : 7.23 19.90 0.50 17.51 18.27 3.23 6.12 Brazil : 6.50 31.00 0.60 21.01 23.20 8.90 6.00 Major importers 4/ : 1.76 18.48 30.65 35.52 47.68 1.52 1.69 EU-15 : 0.85 1.54 16.14 14.77 16.28 1.34 0.91 Japan : 0.63 0.16 4.65 3.68 4.93 0.00 0.51 China : 0.00 15.00 3.85 11.85 18.67 0.18 0.00 : : 1999/00 (Projected) World 2/ : November : 24.33 154.34 40.91 133.34 155.78 41.02 22.78 December : 24.01 154.12 41.04 133.33 155.79 40.92 22.47 United States : November : 9.47 72.75 0.08 43.82 48.01 23.54 10.75 December : 9.47 72.75 0.08 43.82 48.01 23.54 10.75 Total foreign : November : 14.86 81.60 40.83 89.53 107.77 17.48 12.03 December : 14.54 81.37 40.96 89.52 107.78 17.38 11.72 Major exporters 3/ : November : 12.53 52.50 1.20 38.90 41.77 14.60 9.86 December : 12.12 52.50 1.20 39.20 42.07 14.40 9.35 Argentina Nov : 6.16 18.50 0.50 17.60 18.17 2.80 4.19 Dec : 6.12 18.50 0.50 17.60 18.17 2.80 4.15 Brazil Nov : 6.37 31.00 0.70 20.80 23.00 9.40 5.67 Dec : 6.00 31.00 0.70 21.10 23.30 9.20 5.20 Major importers 4/ : November : 1.72 17.32 31.59 35.10 47.48 1.54 1.61 December : 1.69 17.13 31.59 34.99 47.38 1.54 1.50 EU-15 Nov : 0.91 1.41 16.04 14.58 16.07 1.43 0.86 Dec : 0.91 1.20 16.04 14.47 15.96 1.43 0.76 Japan Nov : 0.51 0.17 4.60 3.52 4.82 0.00 0.45 Dec : 0.51 0.17 4.60 3.52 4.82 0.00 0.45 China Nov : 0.00 14.00 4.30 11.50 18.20 0.10 0.00 Dec : 0.00 14.00 4.30 11.50 18.20 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-357-24 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/ : 3.77 100.18 37.11 100.29 37.05 3.72 United States : 0.19 34.63 0.05 26.21 8.46 0.20 Total foreign : 3.58 65.55 37.06 74.08 28.59 3.53 Major exporters 3/ : 1.08 30.06 0.10 7.69 22.25 1.31 Argentina : 0.25 10.54 0.00 0.39 10.03 0.36 Brazil : 0.84 15.73 0.10 6.10 9.62 0.94 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/ : 3.72 105.24 39.57 104.85 39.31 4.38 United States : 0.20 34.28 0.09 27.82 6.46 0.30 Total foreign : 3.53 70.96 39.48 77.03 32.85 4.08 Major exporters 3/ : 1.31 34.81 0.10 8.20 26.60 1.41 Argentina : 0.36 14.00 0.00 0.46 13.40 0.50 Brazil : 0.94 16.60 0.10 6.40 10.40 0.84 India : 0.00 4.21 0.00 1.34 2.80 0.07 Major importers 4/ : 1.07 22.18 26.85 43.85 5.06 1.19 EU-15 : 0.88 11.58 20.24 26.71 5.04 0.94 China : 0.00 9.45 1.40 10.84 0.01 0.00 : : 1999/00 (Projected) World 2/ : November : 4.35 105.83 39.47 106.07 39.66 3.93 December : 4.38 105.87 39.41 105.96 39.75 3.94 United States : November : 0.30 34.72 0.05 28.12 6.71 0.23 December : 0.30 34.72 0.05 28.12 6.71 0.23 Total foreign : November : 4.05 71.11 39.42 77.94 32.94 3.70 December : 4.08 71.15 39.36 77.84 33.04 3.71 Major exporters 3/ : November : 1.39 34.61 0.10 8.45 26.52 1.12 December : 1.41 34.74 0.10 8.46 26.62 1.16 Argentina Nov : 0.35 14.36 0.00 0.43 13.92 0.36 Dec : 0.50 14.26 0.00 0.47 13.92 0.36 Brazil Nov : 0.96 16.43 0.10 6.73 10.00 0.76 Dec : 0.84 16.67 0.10 6.70 10.10 0.80 India Nov : 0.07 3.82 0.00 1.29 2.60 0.00 Dec : 0.07 3.82 0.00 1.29 2.60 0.00 Major importers 4/ : November : 1.19 21.77 26.49 43.22 5.13 1.11 December : 1.19 21.68 26.49 43.16 5.13 1.08 EU-15 Nov : 0.94 11.42 20.02 26.41 5.11 0.86 Dec : 0.94 11.34 20.02 26.35 5.11 0.83 China Nov : 0.00 9.17 1.12 10.28 0.01 0.00 Dec : 0.00 9.17 1.12 10.28 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-357-25 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 22.84 6.66 22.49 6.90 2.66 United States : 0.69 8.23 0.03 6.92 1.40 0.63 Total foreign : 1.86 14.61 6.63 15.56 5.50 2.03 Major exporters 3/ : 0.86 8.74 0.60 4.37 4.88 0.93 Argentina : 0.30 2.24 0.00 0.10 2.10 0.33 Brazil : 0.38 3.74 0.20 2.72 1.18 0.42 EU-15 : 0.17 2.76 0.40 1.55 1.61 0.18 Major importers 4/ : 0.47 2.64 2.05 4.47 0.08 0.60 China : 0.45 1.78 1.65 3.22 0.08 0.58 Pakistan : 0.02 0.00 0.16 0.16 0.00 0.02 : : 1998/99 (Estimated) World 2/ : 2.66 24.18 7.43 24.19 7.79 2.30 United States : 0.63 8.20 0.04 7.10 1.08 0.69 Total foreign : 2.03 15.98 7.39 17.08 6.71 1.61 Major exporters 3/ : 0.93 9.73 0.65 4.42 6.08 0.81 Argentina : 0.33 3.16 0.00 0.11 3.08 0.31 Brazil : 0.42 3.93 0.21 2.73 1.50 0.33 EU-15 : 0.18 2.64 0.44 1.59 1.50 0.18 Major importers 4/ : 0.60 2.94 2.20 5.35 0.08 0.32 China : 0.58 1.97 0.95 3.12 0.08 0.30 Pakistan : 0.02 0.01 0.42 0.43 0.00 0.02 : : 1999/00 (Projected) World 2/ : November : 2.35 24.15 7.09 23.95 7.28 2.37 December : 2.30 24.18 7.09 23.75 7.38 2.44 United States : November : 0.69 8.22 0.04 7.21 0.82 0.92 December : 0.69 8.22 0.04 7.17 0.82 0.96 Total foreign : November : 1.66 15.93 7.06 16.74 6.46 1.45 December : 1.61 15.97 7.06 16.58 6.57 1.48 Major exporters 3/ : November : 0.87 9.67 0.65 4.51 5.83 0.85 December : 0.81 9.70 0.65 4.46 5.89 0.82 Argentina Nov : 0.33 3.18 0.00 0.11 3.05 0.35 Dec : 0.31 3.18 0.00 0.11 3.05 0.33 Brazil Nov : 0.36 3.90 0.22 2.85 1.27 0.35 Dec : 0.33 3.95 0.22 2.80 1.34 0.35 EU-15 Nov : 0.18 2.59 0.43 1.55 1.51 0.15 Dec : 0.18 2.58 0.43 1.55 1.49 0.14 Major importers 4/ : November : 0.32 2.79 1.90 4.82 0.02 0.16 December : 0.32 2.79 1.90 4.72 0.08 0.21 China Nov : 0.30 1.91 0.95 2.99 0.02 0.15 Dec : 0.30 1.91 0.85 2.83 0.08 0.15 Pakistan Nov : 0.02 0.00 0.30 0.31 0.00 0.01 Dec : 0.02 0.00 0.30 0.31 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-357-26 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 : 38.19 91.63 26.29 88.39 26.65 0.30 40.77 United States : 3.97 18.79 0.01 11.35 7.50 0.04 3.89 Total foreign : 34.22 72.84 26.28 77.04 19.15 0.26 36.89 Major exporters 5/ : 11.91 39.81 0.51 24.04 15.88 0.07 12.25 Pakistan : 1.82 7.18 0.12 7.19 0.38 0.03 1.52 India : 4.68 12.34 0.15 12.68 0.31 0.00 4.17 Central Asia 6/ : 1.49 7.11 0.01 1.23 5.82 0.00 1.56 Afr. Fr. Zone 7/ : 0.49 4.32 4/ 0.27 3.62 0.00 0.92 S. Hemis. 8/ : 2.35 5.75 0.23 1.26 4.52 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 20.27 45.59 1.97 0.18 22.85 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 6.02 6.72 1.40 0.05 2.00 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 : 40.77 84.54 24.90 85.10 23.59 -0.14 41.66 United States : 3.89 13.92 0.44 10.40 4.34 -0.44 3.94 Total foreign : 36.89 70.62 24.46 74.70 19.24 0.30 37.72 Major exporters 5/ : 12.25 37.65 1.46 23.56 15.27 0.07 12.45 Pakistan : 1.52 6.30 0.80 7.00 0.01 0.03 1.59 India : 4.17 12.73 0.45 12.50 0.18 0.00 4.68 Central Asia 6/ : 1.56 6.60 0.01 1.25 5.38 0.00 1.54 Afr. Fr. Zone 7/ : 0.92 4.05 4/ 0.27 3.62 0.00 1.07 S. Hemis. 8/ : 2.52 5.38 0.20 1.20 4.49 0.02 2.39 Australia : 1.10 3.29 4/ 0.19 3.00 0.00 1.21 Argentina : 1.04 0.90 0.02 0.40 0.75 0.01 0.80 Major importers : 22.85 29.97 17.90 44.27 2.74 0.22 23.49 Brazil : 1.49 2.10 1.45 3.50 0.00 0.00 1.54 Mexico : 0.36 1.00 1.49 2.15 0.22 0.04 0.45 China : 16.86 20.70 0.36 19.80 0.68 0.00 17.43 Europe : 2.00 2.27 5.42 6.26 1.37 0.09 1.96 Turkey : 0.56 3.85 0.92 4.46 0.38 0.00 0.50 Selected Asia 9/ : 1.60 0.05 8.26 8.10 0.10 0.10 1.62 Indonesia : 0.14 0.02 2.33 2.25 0.00 0.05 0.19 South Korea : 0.43 4/ 1.47 1.48 0.04 0.00 0.39 =============================================================================== 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 1.70 million bales in 1997/98 and 1.38 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-357-27 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 : November : 41.96 87.35 25.83 87.82 25.69 0.29 41.34 December : 41.66 87.38 26.38 87.89 26.14 0.23 41.15 United States : November : 3.94 16.53 0.08 10.20 5.70 0.05 4.60 December : 3.94 16.88 0.08 10.20 6.20 -0.01 4.50 Total foreign : November : 38.02 70.82 25.76 77.62 19.99 0.24 36.74 December : 37.72 70.51 26.30 77.69 19.94 0.24 36.65 Major exporters 5/ : November : 12.64 39.83 0.95 24.38 15.68 0.07 13.28 December : 12.45 39.78 1.25 24.37 15.65 0.07 13.38 Pakistan Nov : 1.69 7.80 0.30 7.30 0.45 0.03 2.01 Dec : 1.59 7.80 0.60 7.30 0.55 0.03 2.11 India Nov : 4.75 12.70 0.35 13.00 0.30 0.00 4.50 Dec : 4.68 13.00 0.35 13.00 0.30 0.00 4.73 Central Asia 6/Nov : 1.54 7.48 0.01 1.27 5.74 0.00 2.02 Dec : 1.54 7.56 0.01 1.26 5.73 0.00 2.12 Afr. Fr. Zn. 7/Nov : 1.07 4.16 4/ 0.28 3.70 0.00 1.25 Dec : 1.07 4.10 4/ 0.28 3.68 0.00 1.20 S. Hemis 8/ Nov : 2.40 5.22 0.19 1.22 4.12 0.02 2.45 Dec : 2.39 4.85 0.19 1.22 4.01 0.02 2.18 Australia Nov : 1.22 3.10 4/ 0.20 2.80 0.00 1.32 Dec : 1.21 3.10 4/ 0.20 2.80 0.00 1.31 Argentina Nov : 0.80 0.90 0.04 0.40 0.60 0.01 0.72 Dec : 0.80 0.55 0.04 0.40 0.50 0.01 0.47 Major importers Nov : 23.57 27.98 19.29 46.04 3.09 0.17 21.54 Dec : 23.49 27.78 19.60 46.20 3.08 0.17 21.41 Brazil Nov : 1.70 2.10 1.65 3.60 0.00 0.00 1.85 Dec : 1.54 1.90 2.10 3.80 0.00 0.00 1.74 Mexico Nov : 0.41 0.60 2.10 2.45 0.20 0.03 0.43 Dec : 0.45 0.60 2.10 2.45 0.20 0.03 0.47 China Nov : 17.43 19.00 0.25 20.50 1.20 0.00 14.98 Dec : 17.43 19.00 0.15 20.50 1.20 0.00 14.88 Europe Nov : 1.94 2.33 5.59 6.32 1.45 0.05 2.05 Dec : 1.96 2.33 5.45 6.18 1.44 0.05 2.07 Turkey Nov : 0.50 3.90 1.10 4.80 0.15 0.00 0.55 Dec : 0.50 3.90 1.10 4.80 0.15 0.00 0.55 Sel. Asia 9/ Nov : 1.59 0.05 8.60 8.38 0.09 0.10 1.68 Dec : 1.62 0.05 8.70 8.48 0.09 0.10 1.71 Indonesia Nov : 0.16 0.02 2.40 2.30 0.00 0.05 0.23 Dec : 0.19 0.02 2.50 2.40 0.00 0.05 0.26 S. Korea Nov : 0.39 4/ 1.60 1.55 0.04 0.00 0.41 Dec : 0.39 4/ 1.60 1.55 0.04 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 1.51 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-357-28 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 : 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 1206 8638 20022 1691 40.5 II : 6627 4631 11368 7594 1336 9072 20440 1702 42.0 III : 6841 4672 11627 7486 1362 8986 20613 1728 39.8 IV *: 6450 5175 11738 7300 1425 8860 20598 1770 39.9 Annual : Nov Proj : 26240 19368 46067 29774 5304 35631 81698 6886 162.2 Dec Proj : 26315 19343 46117 29674 5329 35556 81673 6892 162.1 : 2000 : I *: 6250 4750 11114 7650 1275 9065 20179 1735 41.6 II *: 6300 4500 10903 7900 1350 9400 20303 1735 42.6 III *: 6300 4525 10927 7800 1375 9315 20242 1755 40.4 Annual : Nov Proj : 24875 18625 43924 31250 5400 37215 81139 7030 165.3 Dec Proj : 24775 18625 43824 31150 5400 37115 80939 7030 164.8 =============================================================================== * 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 : 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 : 65.04 35.18 58.6 65.8 58.1 12.87 III : 65.12 35.70 58.1 73.8 66.2 14.83 IV *: 69-70 34-35 57-58 77-78 63-64 13.50-13.70 Annual : Nov Proj : 65.15 32.43 58.0 69.3 67.3 14.35-14.45 Dec Proj : 65.52 33.55 58.1 69.1 65.7 14.25-14.35 2000 : I *: 67-71 34-36 53-55 63-67 58-62 11.50-12.00 II *: 66-72 36-40 54-58 64-70 53-57 11.60-12.40 III *: 67-73 40-44 56-60 66-72 58-62 12.25-13.25 Annual : Nov Proj : 67-72 34-37 54-58 66-72 61-66 12.50-13.40 Dec Proj : 67-72 37-40 54-58 66-72 58-62 12.35-13.15 =============================================================================== *Projection. 1/ Nebraska, Direct, 1100-1300 lbs. 2/ National Base, 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-357-29 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. Nov : 393 26346 2820 29559 2376 370 26813 68.8 Dec : 393 26421 2842 29656 2374 370 26912 69.0 2000 Proj. Nov : 370 24981 3015 28366 2310 365 25691 65.3 Dec : 370 24881 3015 28266 2310 365 25591 65.1 : PORK : 1998 : 408 19011 704 20123 1229 586 18308 52.6 1999 Proj. Nov : 586 19398 826 20810 1291 550 18969 53.9 Dec : 586 19373 822 20781 1272 525 18984 54.0 2000 Proj. Nov : 550 18655 800 20005 1200 500 18305 51.6 Dec : 525 18655 800 19980 1200 500 18280 51.5 : TOTAL RED MEAT 4/ : 1998 : 895 45284 3458 49637 3406 996 45235 122.7 1999 Proj. Nov : 996 46216 3755 50967 3673 937 46357 124.5 Dec : 996 46266 3774 51036 3652 912 46472 124.8 2000 Proj. Nov : 937 44073 3929 48939 3516 880 44543 118.6 Dec : 912 43973 3929 48814 3516 880 44418 118.3 : BROILERS : 1998 : 607 27612 5 28225 4673 711 22841 72.6 1999 Proj. Nov : 711 29500 4 30215 4606 950 24659 77.6 Dec : 711 29402 4 30117 4631 850 24635 77.5 2000 Proj. Nov : 950 30957 4 31911 4675 990 26246 81.9 Dec : 850 30858 4 31712 4675 890 26147 81.6 : TURKEYS : 1998 : 415 5215 0 5630 446 304 4880 18.1 1999 Proj. Nov : 304 5237 0 5542 378 250 4914 18.0 Dec : 304 5262 0 5567 356 250 4961 18.2 2000 Proj. Nov : 250 5332 0 5582 390 300 4892 17.8 Dec : 250 5332 0 5582 390 300 4892 17.8 : TOTAL POULTRY 5/ : 1998 : 1029 33352 6 34387 5545 1022 27821 91.0 1999 Proj. Nov : 1022 35292 5 36319 5389 1205 29725 96.2 Dec : 1022 35219 6 36246 5393 1105 29748 96.3 2000 Proj. Nov : 1205 36855 4 38064 5480 1295 31289 100.2 Dec : 1105 36756 4 37865 5480 1195 31190 99.9 : RED MEAT & POULTRY: 1998 : 1924 78636 3464 84024 8950 2018 73057 213.7 1999 Proj. Nov : 2018 81508 3760 87286 9062 2142 76083 220.7 Dec : 2018 81485 3780 87282 9045 2017 76221 221.1 2000 Proj. Nov : 2142 80928 3933 87003 8996 2175 75833 218.9 Dec : 2017 80729 3933 86679 8996 2075 75609 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-357-30 U.S. Egg Supply and Use =============================================================================== : : : 1999 Projected : 2000 Projected : : :-----------------:----------------- Commodity : 1997 : 1998 : Nov : Dec : Nov : Dec =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 8.5 7.4 8.4 8.4 5.0 5.0 Production : 6473.1 6658.7 6885.7 6891.7 7030.0 7030.0 Imports : 6.9 5.8 7.2 7.4 4.0 4.0 Total supply : 6488.5 6672.0 6901.3 6907.5 7039.0 7039.0 : Use : Exports : 227.8 218.8 157.1 158.9 170.0 170.0 Hatching use : 894.7 921.8 946.3 946.3 1005.0 1005.0 Ending stocks : 7.4 8.4 5.0 5.0 5.0 5.0 Consumption : Total : 5358.6 5523.0 5792.9 5797.3 5859.0 5859.0 Per capita (number) : 240.1 245.2 254.7 254.9 255.4 255.4 =============================================================================== U.S. Milk Supply, Use and Prices =============================================================================== : : : 1998/99 Proj 1/: 1999/00 Proj 1/ Commodity :1996/97:1997/98:-----------------:----------------- : 1/ : 1/ : Nov : Dec : Nov : Dec =============================================================================== MILK : Billion pounds Supply : Beg. commercial stocks 2/ : 4.9 5.9 5.8 5.8 7.4 7.5 Production : 155.9 156.5 161.3 161.2 164.8 164.4 Farm use : 1.4 1.4 1.3 1.3 1.3 1.3 Marketings : 154.5 155.2 159.9 159.9 163.5 163.1 Imports 2/ : 2.8 4.0 4.8 4.8 3.7 3.7 Total cml. supply 2/ : 162.3 165.1 170.5 170.5 174.6 174.3 Use : Commercial use 2/ 3/ : 155.6 158.6 162.9 162.8 167.4 167.1 Ending commercial stks. 2/: 5.9 5.8 7.4 7.5 6.6 6.6 CCC net removals: : Milkfat basis 4/ : 0.7 0.7 0.3 0.3 0.5 0.5 Skim-solids basis 4/ : 2.7 4.5 5.4 5.4 4.2 4.2 : : Dollars per cwt Milk Prices : Basic Formula/Class III 5/: 11.88 13.28 14.04 14.04 10.75- 10.40- : 11.45 11.00 All milk 6/ : 13.53 14.60 15.37 15.37 12.40- 12.25- : 13.10 12.85 : : Million pounds CCC product net removals 4/: Butter : 24 21 1 1 15 15 Cheese : 10 8 6 6 6 6 Nonfat dry milk : 222 368 449 449 350 350 Dry whole milk : 7 15 12 12 12 12 =============================================================================== 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/ Basic Formula Price (BFP)through Dec. 31, 1999; Class III price beginning Jan. 1, 2000 6/ Milk of average fat test. Does not reflect any deductions from producers as authorized by legislation. WASDE-357-31 Note: Tables on pages 31-33 present a 18-year record of the differences between the December projection and the final estimate. Using world wheat production as an example, changes between the December projection and the final estimate have averaged 4.2 million tons (0.8%) ranging from -10.2 to 6.1 million tons. The December projection has been below the estimate 11 times and above 7 times. Reliability of December 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 : 0.8 4.2 -10.2 6.1 11 7 U.S. : 0.3 0.2 -1.2 0.5 9 7 Foreign : 0.9 4.2 -10.3 6.3 11 7 Exports : World : 3.2 3.6 -12.6 5.7 13 5 U.S. : 4.9 1.7 -3.9 3.4 8 10 Foreign : 5.0 4.0 -11.2 5.9 15 3 Domestic use : World : 1.1 5.5 -13.0 11.0 11 7 U.S. : 5.9 1.8 -2.4 3.6 6 12 Foreign : 1.1 5.4 -16.1 8.7 12 6 Ending stocks : World : 4.5 5.3 -13.5 6.1 12 6 U.S. : 8.4 2.0 -7.0 1.9 11 7 Foreign : 4.2 3.9 -10.3 5.1 11 7 : COARSE GRAINS 3/ : Production : World : 1.0 7.7 -19.8 6.9 11 7 U.S. : 1.1 2.4 -7.5 5.8 12 6 Foreign : 1.3 7.5 -16.3 7.6 9 9 Exports : World : 4.8 5.0 -10.8 12.4 11 7 U.S. : 12.0 6.3 -11.6 12.4 9 9 Foreign : 8.9 4.4 -10.0 7.2 8 9 Domestic use : World : 1.1 9.1 -18.4 22.8 9 9 U.S. : 3.4 6.0 -17.9 16.5 9 9 Foreign : 1.2 7.7 -10.5 22.7 10 8 Ending stocks : World : 9.0 12.4 -30.3 17.5 13 5 U.S. : 17.2 9.0 -23.9 21.2 9 9 Foreign : 10.6 7.6 -19.5 8.3 14 4 : RICE, milled : Production : World : 1.9 6.3 -16.2 1.1 15 3 U.S. : 2.7 0.1 -0.3 0.2 9 7 Foreign : 1.9 6.3 -16.2 1.2 15 3 Exports : World : 8.8 1.5 -6.1 0.9 14 4 U.S. : 5.2 0.1 -0.6 0.3 8 8 Foreign : 10.2 1.5 -6.0 0.9 14 4 Domestic use : World : 1.4 4.4 -15.9 1.5 14 4 U.S. : 6.0 0.2 -0.4 0.4 10 8 Foreign : 1.4 4.3 -16.1 1.7 14 4 Ending stocks : World : 10.2 4.0 -13.4 4.8 13 5 U.S. : 11.3 0.1 -0.3 0.3 9 9 Foreign : 10.8 4.0 -13.5 4.6 13 5 ------------------------------------------------------------------------------- 1/ Footnotes at end of table. CONTINUED WASDE-357-32 Reliability of December 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 : 2.3 2.6 -6.6 3.8 10 8 U.S. : 1.9 1.0 -2.7 2.1 6 12 Foreign : 4.1 2.3 -7.5 2.7 9 9 Exports : World : 3.6 1.0 -2.0 2.7 11 7 U.S. : 7.3 1.4 -2.4 4.8 9 9 Foreign : 16.1 1.3 -4.0 2.1 10 8 Domestic use : World : 2.6 3.0 -5.8 3.0 11 7 U.S. : 3.0 1.1 -3.6 1.3 13 5 Foreign : 3.1 2.3 -4.4 3.4 11 7 Ending stocks : World : 11.9 2.1 -4.0 5.2 9 9 U.S. : 24.9 1.9 -2.8 4.9 5 13 Foreign : 14.2 1.6 -2.8 2.7 10 8 : COTTON : Million 480-pound bales Production : World : 2.3 2.0 -6.3 4.4 8 9 U.S. : 1.5 0.2 -0.5 0.4 8 9 Foreign : 2.8 2.0 -6.7 4.3 7 10 Exports : World : 4.3 1.0 -2.7 1.2 10 8 U.S. : 10.8 0.6 -1.2 1.1 10 8 Foreign : 5.7 1.0 -3.3 1.6 8 9 Mill use : World : 1.9 1.5 -6.0 1.6 8 10 U.S. : 3.9 0.3 -0.9 0.6 12 5 Foreign : 1.9 1.4 -5.5 2.1 8 10 Ending stocks : World : 10.6 3.6 -8.1 9.4 8 10 U.S. : 20.1 0.8 -1.4 2.1 5 13 Foreign : 10.5 3.2 -8.6 8.9 10 8 ------------------------------------------------------------------------------- 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-357-33 Reliability of United States December 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 : 1.1 81 -250 159 11 6 Exports : 12.3 216 -450 408 9 9 Domestic use : 3.8 222 -574 535 11 7 Ending stocks : 20.2 345 -986 907 9 9 : SORGHUM : Production : 2.4 17 -53 52 9 9 Exports : 12.9 31 -90 97 12 5 Domestic use : 9.3 45 -114 127 7 11 Ending stocks : 35.8 41 -104 82 9 9 : BARLEY : Production : 1.4 6 -12 24 7 8 Exports : 18.7 13 -37 30 7 10 Domestic use : 5.2 21 -30 70 8 9 Ending stocks : 10.9 17 -39 28 12 5 : OATS : Production : 1.0 4 -18 16 6 6 Exports : 55.2 1 -4 7 4 6 Domestic use : 3.6 15 -39 36 10 8 Ending stocks : 13.2 17 -46 52 11 7 : : Thousand short tons SOYBEAN MEAL : Production : 2.8 841 -2578 937 11 7 Exports : 10.2 679 -1900 1300 10 8 Domestic use : 2.6 568 -1206 675 13 5 Ending stocks : 31.5 74 -214 188 7 10 : : Million pounds SOYBEAN OIL : Production : 2.8 388 -1418 745 12 6 Exports : 22.2 338 -900 964 9 9 Domestic use : 2.6 312 -985 500 12 6 Ending stocks : 17.1 232 -501 708 10 8 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 2.9 688 -441 2038 11 5 Pork : 3.1 501 -1240 1592 9 7 Broilers : 1.5 314 -891 512 11 5 Turkeys : 2.1 92 -227 181 11 5 : : Million dozen Eggs : 1.4 84 -127 163 11 5 : : Billion pounds Milk : 1.3 1.8 -6.0 5.6 6 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 estimate. 3/ May not total 18 for crops and 16 for animal production if projection was the same as the final estimate. 4/ Calendar years 1984 thru 1998 for meats and eggs; October-September years 1983/84 thru 1997/98 for milk. Final for animal products is defined as latest annual production estimate published by NASS. WASDE-357-34 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 -----