WASDE-363 June 9, 2000 NOTE: Projections are based on economic analysis, normal weather, trends, and judgment. Because planting of spring crops is still underway in the Northern Hemisphere and remains several months away in the Southern Hemisphere, these projections are highly tentative. Substantial variation may result from weather developments, economic factors, and policy changes. National Agricultural Statistics Service (NASS) forecasts are used for U.S. winter wheat. For other U.S. crops, the March 31 NASS Prospective Plantings report is used for planted acreage, and methods used to project harvested acreage and yield are noted on each table. WHEAT: Projected U.S. 2000/01 ending stocks of wheat are down 28 million bushels from last month as a smaller supply more than offsets reduced use. Forecast winter wheat production is 27 million bushels below last month because of reduced yields. Forecast beginning stocks are off 21 million bushels, but projected imports are up 5 million bushels. Total use is down 15 million bushels, with feed and residual use off 25 million bushels but food use up 10 million bushels. The projected price range for 2000/01 is unchanged at $2.40 to $2.90 per bushel. Forecast 1999/2000 ending stocks are down from last month because of increases of 10 million bushels in food use and 15 million bushels in exports. Imports are up 4 million bushels. Projected global 2000/01 wheat production is 4.6 million tons below last month as reductions for China, Eastern Europe, the United States, and Ukraine more than offset a higher Pakistan crop. Given the larger crop, projected imports for Pakistan are reduced 2 million tons. These lower imports are partially offset by higher expected purchases by China and Eastern Europe. The smaller East European crops also are expected to reduce exports and ending stocks. China and the United States account for most of the remaining reduction in projected 2000/01 ending stocks. Supplies in the major foreign exporters are little changed from last month and remain relatively large. COARSE GRAINS: The outlook for U.S. 2000/01 feed grains is for lower supplies, higher use, and lower ending stocks than last month. Projected feed grain production is unchanged, but carryin stocks of corn are down slightly from last month. Projected feed and residual use is up slightly for corn and barley, but lower for sorghum. The major changes in use are higher expected exports of corn and sorghum because of larger global imports. Projected 2000/01 ending stocks of corn are down 125 million bushels from last month but 100 million bushels above the carryin level. Compared with last month, the projected 2000/01 price range for corn is up 5 cents on each end to $1.65 to $2.05 per bushel. Projected 2000/01 price ranges of barley and sorghum are also up 5 cents per bushel. Forecast 1999/2000 ending stocks of corn are down 25 million bushels as feed and residual use is up in response to lower expected wheat feeding this summer. Global 2000/01 projected production is down more than 3 million tons from last month, largely due to drought-reduced barley and rye crops in Eastern Europe. Global coarse grain imports are up from last month because the smaller Eastern Europe crops leads to larger imports of barley, rye, and corn. Also, projected corn imports are increased for Taiwan and sorghum imports are raised for Mexico due to rising demand for feeding. U.S. exports of corn and sorghum are increased accordingly. The United States accounts for most of the drop from last month in projected 2000/01 global ending stocks. RICE: No changes are made in the U.S. supply for 1999/2000 or 2000/01. Projected U.S. exports in 2000/01 are raised 1 million cwt to 88 million cwt. Rough rice exports are raised 2 million cwt to 25 million cwt and milled rice exports are lowered 1 million cwt to 63 million cwt. The brisk pace of rough rice exports in 1999/2000 is expected to continue in 2000/01, particularly to markets in the Western Hemisphere, Middle East, and Western Europe. Ending stocks for 2000/01 are projected at 41.9 million cwt, down 2 million cwt from last month. The season-average price range is unchanged at $4.75 to $5.75 per cwt. Exports in 1999/2000 are raised 1 million cwt this month to 88 million cwt, with rough rice exports raised 2 million cwt and milled rice exports lowered 1 million cwt. Rough rice exports have been particularly strong to Mexico, Latin America, and Turkey; Mexico is the largest market for U.S. rough rice. Ending stocks are estimated at 38.5 million cwt, down 1 million cwt from last month. The season- average price range for 1999/2000 is raised 5 cents per cwt on each end to $6.10 to $6.20 per cwt. Projected global 2000/01 rice supply and use are nearly unchanged from last month. Small changes are made to global supply and use in 1999/2000: world production, consumption, and exports are raised while ending stocks are lowered. Vietnam's 1999/2000 rice crop is raised to a record 20.5 million tons. Exports in 1999/2000 are increased for the United States, Thailand, and China. Exports for Vietnam are lowered because of the slow pace of exports through the first quarter of the marketing year. OILSEEDS: U.S. oilseed production for 2000/01 is projected at a record 91.6 million tons, unchanged from last month. Soybean production is forecast at a record 2,955 million bushels, or 80.4 million tons. U.S. soybean export prospects are increased 10 million bushels to a record 980 million bushels, based on stronger import demand by China. U.S. soybean crush is lowered by 10 million bushels, to 1,610 million bushels, as reduced domestic demand prospects are only partially offset by stronger soybean meal exports. U.S. soybean oil domestic use prospects for 2000/01 are reduced from last month, reflecting lowered 1999/2000 use prospects. Global oilseed production for 2000/01 is projected at a record 310 million metric tons, up about 12 million tons from 1999/2000 and unchanged from last month. Global production for 1999/2000 is estimated at 297.9 million tons, up slightly from last month. Projected season-average soybean prices for 2000/01 are unchanged this month. The projected soybean price of $4.00 to $5.00 per bushel compares with an estimated $4.65 per bushel for 1999/00. Soybean meal is projected at $145 to$175 per short ton, compared with $167.50 per ton estimated for 1999/2000. Projected soybean oil prices are unchanged this month at 15 to 18 cents per pound. For 1999/2000, U.S. soybean exports are increased 15 million bushels this month to 955 million bushels. Soybean crush is cut 15 million bushels because soybean meal domestic use is reduced by 500,000 short tons. Soybean meal exports are raised 0.1 million tons to 6.9 million tons. Ending soybean stocks are unchanged at 300 million bushels. Global soybean trade for 1999/2000 is raised 1.3 million tons this month based on strong imports by China, which are raised a like amount, to 7.2 million tons. Exports from South America are up 0.9 million tons this month. SUGAR: Projected 2000/01 U.S. production is unchanged from last month, but carryin stocks are lowered 29,000 short tons, raw value. Total use is unchanged. The supply of sugar in 1999/2000 is reduced by 29,000 tons. The reduction is mainly due to a 25,000-ton decrease in imports for re-export in sugar-containing products, commensurate with a slower-than-expected import pace. Total 1999/2000 use is unchanged. Deliveries of sugar to manufacturers of sugar- containing products for re-export are reduced 25,000 tons, and offset by an increase in other domestic uses. End-of-season stocks, estimated at 1.938 million tons, include 141,240 tons, raw value, purchased by the Commodity Credit Corporation. The end-of-season stocks-to-use ratio is 18.5 percent, compared with 18.8 percent last month. LIVESTOCK, POULTRY, AND DAIRY: U.S. meat supply and utilization estimates for 1999 and 2000 have been adjusted this month to reflect volumes of meat shipped during 1999 as part of the Russian food aid package. These shipments currently are reported in official Bureau of the Census data as having been shipped in 2000. Bureau of the Census revisions to the official trade numbers will be adopted when available. Meat exports in 2000 and 2001 are raised from last month, reflecting robust first-quarter sales and expectations of continued strong foreign demand. Despite falling U.S. beef production, demand for high-quality U.S. beef in the recovering Asian markets is expected to bolster U.S. exports. Pork exports are also expected to remain high as economic growth continues in major importing countries. Pork imports are raised from last month as Canada continues to expand production. Broiler export forecasts are raised slightly. Production and price forecasts for red meats and poultry are little changed from last month. Feedlot placements remain high, supporting continued large beef production through summer, but production is forecast to decline in the second half of 2000 as producers begin retaining heifers for herd expansion. Pork and poultry forecasts are unchanged. USDA's June 23 Hogs and Pigs report will provide the next indication of potential changes in pork production into 2001. Milk production forecasts are virtually unchanged from last month. The 1999/2000 Class III price forecast is lowered from last month due to expected continued weakness in cheese prices, but is raised slightly for 2000/01. The Class IV price forecast is raised from last month on the strength of butter prices. The 1999/2000 all milk-price is forecast slightly higher, but the forecast is unchanged for 2000/01. COTTON: No changes are made in this month's 2000/01 U.S. projections of production, consumption, and trade. Ending stocks are reduced 4 percent due to a change in beginning stocks. This month's estimates for 2000/01 world supply and demand reflect lower beginning stocks offset by higher production, resulting in a marginal increase in ending stocks. An increase of 1.0 million bales in the production forecast is based on indications of larger foreign area than was anticipated a month ago. With no changes in consumption or trade, ending stocks are pegged at 37.0 million bales. For 1999/2000, U.S. exports are raised 200,000 bales, reflecting continued strong export sales and recent attractive Step 2 payment rates, which have encouraged shipments. U.S. ending stocks are reduced to 4.1 million bales, a moderate 24.3 percent of total use. A slightly higher foreign consumption estimate reflects increases for China, Turkmenistan, Greece, India and Pakistan, partially offset by reductions for Indonesia and others. 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: RICHARD E. ROMINGER ACTING SECRETARY OF AGRICULTURE * * * * * * * * * * * The next issue of this report will be released 8:30 a.m. ET on July 12, 2000. The World Agricultural Supply and Demand Estimates report will be released on the following dates in 2000: July 12, August 11, September 12, October 12, November 9, and December 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-363-6 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/ : 1998/99 : 1,873.42 2,204.61 254.55 1,851.25 353.36 1999/00 (Est.) : 1,864.70 2,218.06 264.19 1,878.99 339.07 2000/01 (Proj.) : May : 1,876.76 2,216.90 267.09 1,890.74 326.16 June : 1,868.86 2,207.93 267.23 1,889.38 318.55 Wheat : 1998/99 : 589.19 727.56 120.77 590.97 136.59 1999/00 (Est.) : 586.66 723.25 126.78 597.37 125.88 2000/01 (Proj.) : May : 580.44 706.37 128.95 596.93 109.44 June : 575.81 701.69 126.93 595.44 106.25 Coarse grains 4/ : 1998/99 : 890.28 1,028.21 107.00 871.03 157.18 1999/00 (Est.) : 875.40 1,032.57 114.34 881.58 150.99 2000/01 (Proj.) : May : 896.01 1,047.67 112.94 890.81 156.86 June : 892.73 1,043.72 115.10 890.93 152.79 Rice, milled : 1998/99 : 393.95 448.84 26.78 389.24 59.60 1999/00 (Est.) : 402.65 462.24 23.07 400.04 62.20 2000/01 (Proj.) : May : 400.31 462.86 25.20 403.00 59.86 June : 400.31 462.51 25.20 403.00 59.51 : : United States Total grains 3/ : 1998/99 : 346.71 411.61 86.99 246.80 77.81 1999/00 (Est.) : 332.67 416.13 87.10 253.41 75.63 2000/01 (Proj.) : May : 338.16 420.70 87.91 252.95 79.83 June : 337.43 418.87 90.23 253.13 75.51 Wheat : 1998/99 : 69.33 91.79 28.36 37.69 25.74 1999/00 (Est.) : 62.66 90.96 29.67 36.33 24.97 2000/01 (Proj.) : May : 60.93 89.05 30.62 35.65 22.78 June : 60.20 87.89 30.62 35.25 22.03 Coarse grains 4/ : 1998/99 : 271.47 312.69 55.95 205.37 51.37 1999/00 (Est.) : 263.38 317.50 54.66 213.39 49.45 2000/01 (Proj.) : May : 270.93 323.75 54.55 213.53 55.66 June : 270.93 323.11 56.84 214.11 52.16 Rice, milled : 1998/99 : 5.91 7.12 2.68 3.75 0.69 1999/00 (Est.) : 6.64 7.67 2.77 3.68 1.21 2000/01 (Proj.) : May : 6.31 7.90 2.74 3.77 1.38 June : 6.31 7.87 2.77 3.77 1.32 =============================================================================== 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-363-7 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/ : 1998/99 : 1,526.71 1,793.00 167.56 1,604.45 275.55 1999/00 (Est.) : 1,532.03 1,801.93 177.09 1,625.58 263.44 2000/01 (Proj.) : May : 1,538.60 1,796.20 179.18 1,637.79 246.33 June : 1,531.42 1,789.06 176.99 1,636.25 243.05 Wheat : 1998/99 : 519.86 635.77 92.41 553.29 110.84 1999/00 (Est.) : 524.00 632.28 97.11 561.03 100.91 2000/01 (Proj.) : May : 519.51 617.32 98.34 561.28 86.66 June : 515.61 613.81 96.31 560.19 84.23 Coarse grains 5/ : 1998/99 : 618.81 715.52 51.05 665.66 105.80 1999/00 (Est.) : 612.02 715.07 59.68 668.19 101.54 2000/01 (Proj.) : May : 625.08 723.93 58.38 677.28 101.20 June : 621.80 720.61 58.26 676.82 100.62 Rice, milled : 1998/99 : 388.04 441.72 24.10 385.50 58.90 1999/00 (Est.) : 396.01 454.57 20.30 396.36 60.99 2000/01 (Proj.) : May : 394.00 454.96 22.46 399.23 58.47 June : 394.00 454.65 22.43 399.23 58.19 =============================================================================== 1/ Aggregate of local marketing years. 2/ Based on export estimate. See individual commodity tables for treatment of export/import imbalances. 3/ Total foreign is equal to world minus United States. 4/ Wheat, coarse grains and milled rice. 5/ Corn, sorghum, barley, oats, rye, millet and mixed grains. World and U.S. Supply and Use for Cotton 1/ Million 480-lb. bales =============================================================================== : : Total : : Total : Ending Commodity : Output : Supply : Trade 2/ : Use : Stocks =============================================================================== : : World 1998/99 : 84.55 128.42 23.59 84.77 45.46 1999/00 (Est.) : 87.20 132.66 26.95 90.76 41.99 2000/01 (Proj.) : May : 86.00 128.55 27.70 92.00 36.55 June : 87.00 128.99 27.70 92.00 36.99 : United States 1998/99 : 13.92 18.25 4.34 10.40 3.94 1999/00 (Est.) : 16.97 21.01 6.80 10.10 4.10 2000/01 (Proj.) : May : 19.00 23.35 8.00 10.20 5.10 June : 19.00 23.15 8.00 10.20 4.90 : Foreign 3/ 1998/99 : 70.63 110.17 19.25 74.37 41.52 1999/00 (Est.) : 70.24 111.66 20.15 80.66 37.89 2000/01 (Proj.) : May : 67.00 105.20 19.70 81.80 31.45 June : 68.00 105.84 19.70 81.80 32.09 =============================================================================== 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-363-8 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 : 1998/99 : 294.64 319.42 54.65 239.82 28.48 1999/00 (Est.) : 297.88 326.36 62.33 247.94 25.04 2000/01 (Proj.) : May : 310.00 335.28 June : 310.00 335.04 Oilmeals : 1998/99 : 163.79 169.47 54.28 162.79 6.16 1999/00 (Est.) : 169.26 175.42 55.07 168.54 6.01 2000/01 (Proj.) : May : June : Vegetable Oils : 1998/99 : 81.98 89.18 31.58 80.63 7.50 1999/00 (Est.) : 86.21 93.71 32.19 85.38 7.71 2000/01 (Proj.) : May : June : : : United States Oilseeds : 1998/99 : 84.36 91.49 22.63 47.81 10.78 1999/00 (Est.) : 82.02 93.24 26.80 47.50 9.10 2000/01 (Proj.) : May : 91.58 101.07 27.25 49.03 14.73 June : 91.58 101.01 27.52 48.76 14.65 Oilmeals : 1998/99 : 36.81 38.34 6.71 31.30 0.33 1999/00 (Est.) : 36.42 37.94 6.53 31.06 0.35 2000/01 (Proj.) : May : 37.58 39.17 6.64 32.25 0.29 June : 37.35 38.98 6.77 31.90 0.31 Vegetable Oils : 1998/99 : 9.56 11.99 1.74 9.24 1.01 1999/00 (Est.) : 9.42 11.98 1.25 9.59 1.14 2000/01 (Proj.) : May : 9.70 12.59 1.47 9.96 1.16 June : 9.65 12.39 1.44 9.92 1.15 : : Foreign 3/ Oilseeds : 1998/99 : 210.28 227.92 32.02 192.01 17.70 1999/00 (Est.) : 215.86 233.11 35.53 200.44 15.94 2000/01 (Proj.) : May : 218.42 234.21 June : 218.42 234.03 Oilmeals : 1998/99 : 126.98 131.13 47.57 131.49 5.83 1999/00 (Est.) : 132.84 137.48 48.54 137.47 5.67 2000/01 (Proj.) : May : June : Vegetable Oils : 1998/99 : 72.43 77.19 29.84 71.39 6.49 1999/00 (Est.) : 76.79 81.73 30.95 75.79 6.56 2000/01 (Proj.) : May : June : =============================================================================== 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-363-9 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :============================== : : Est. : May June =============================================================================== Area : Million acres Planted : 65.8 62.8 61.7 * 61.7 * Harvested : 59.0 53.9 52.5 * 52.5 * Yield per harvested : Bushels acre : 43.2 42.7 42.6 * 42.1 * : Million bushels Beginning stocks : 722 946 938 917 Production : 2,547 2,302 2,239 2,212 Imports : 103 94 95 100 Supply, total : 3,373 3,342 3,272 3,229 Food : 908 920 925 935 Seed : 81 90 85 85 Feed and residual : 396 325 300 275 Domestic, total : 1,385 1,335 1,310 1,295 Exports : 1,042 1,090 1,125 1,125 Use, total : 2,427 2,425 2,435 2,420 Ending stocks : 946 917 837 809 CCC inventory : 128 100 Free stocks : 818 817 Avg. farm price ($/bu) 2/ : 2.65 2.50 2.40- 2.90 2.40- 2.90 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum :Total =============================================================================== 1999/00 (estimated) : Million bushels Beginning stocks : 435 233 136 87 55 946 Production : 1,055 448 453 247 99 2,302 Supply, total 3/ : 1,491 740 589 340 182 3,342 Domestic use : 539 303 303 96 94 1,335 Exports : 490 230 170 160 40 1,090 Use, total : 1,029 533 473 256 134 2,425 Ending stocks Jun : 462 207 117 84 49 917 May : 482 208 117 84 49 938 =============================================================================== 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 May and June, planted acres reported in March 31, 2000, Prospective Plantings. Harvested acres and yield for spring wheat (including durum) projected using harvested-to-planted ratios and yields by State for 1995-1999. For June, winter wheat harvested acreage and yield reported in June 9 Crop Production. ****************************************************************************** * * * * * Wheat-by-class projections for 2000/01 will first be published * * in the July 12 WASDE. * * * * * ****************************************************************************** WASDE-363-10 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :============================== : : Est. : May June =============================================================================== FEED GRAINS : Area : Million acres Planted : 101.0 96.6 96.9 * 96.9 * Harvested : 88.9 86.3 86.8 * 86.8 * Yield per harvested : Metric tons acre : 3.05 3.05 3.12 3.12 : Million metric tons Beginning stocks : 38.1 51.3 50.0 49.4 Production : 271.2 263.1 270.6 270.6 Imports : 3.0 2.6 2.6 2.6 Supply, total : 312.3 317.1 323.3 322.7 Feed and residual : 152.3 157.9 156.9 157.4 Food, seed & industrial : 52.7 55.2 56.3 56.3 Domestic, total : 205.0 213.0 213.1 213.7 Exports : 55.9 54.7 54.6 56.8 Use, total : 261.0 267.7 267.7 270.6 Ending stocks, total : 51.3 49.4 55.6 52.1 CCC inventory : 0.3 0.4 Free stocks : 51.0 49.0 Outstanding loans : 10.3 9.1 : CORN : Area : Million acres Planted : 80.2 77.4 77.9 * 77.9 * Harvested : 72.6 70.5 71.1 * 71.1 * Yield per harvested : Bushels acre : 134.4 133.8 137.0 * 137.0 * : Million bushels Beginning stocks : 1,308 1,787 1,784 1,759 Production : 9,759 9,437 9,740 9,740 Imports : 19 15 10 10 Supply, total : 11,085 11,239 11,534 11,509 Feed and residual : 5,472 5,675 5,675 5,700 Food, seed & industrial : 1,846 1,930 1,975 1,975 Domestic, total : 7,318 7,605 7,650 7,675 Exports : 1,981 1,875 1,900 1,975 Use, total : 9,298 9,480 9,550 9,650 Ending stocks, total : 1,787 1,759 1,984 1,859 CCC inventory : 12 15 Free stocks : 1,775 1,744 Outstanding loans : 391 350 Avg. farm price ($/bu) 2/ : 1.94 1.85- 1.95 1.60- 2.00 1.65- 2.05 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. * For May and June, the planted acres estimate reported in March 31, 2000, Prospective Plantings. For corn: Harvested acres projected by using relationship between planted and harvested for 1996-99, excluding 1998. Projected yield is derived from an econometric model fit over 1975-99 using a trend variable, July rainfall and temperatures, and planting progress as of mid-May. WASDE-363-11 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :============================== : : Est. : May June =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 9.6 9.3 9.0 * 9.0 * Area harv. (mil. acres) : 7.7 8.5 8.0 * 8.0 * Yield (bushels/acre) : 67.3 69.7 69.5 * 69.5 * Beginning stocks : 49 65 45 45 Production : 520 595 556 556 Imports : 0 0 0 0 Supply, total : 569 660 601 601 Feed and residual : 262 310 275 260 Food, seed & industrial : 45 55 55 55 Total domestic : 307 365 330 315 Exports : 197 250 225 240 Use, total : 504 615 555 555 Ending stocks, total : 65 45 46 46 Avg. farm price ($/bu) 2/ : 1.66 1.55- 1.65 1.30- 1.70 1.35- 1.75 : BARLEY : Area planted (mil. acres) : 6.3 5.2 5.7 * 5.7 * Area harv. (mil. acres) : 5.9 4.8 5.3 * 5.3 * Yield (bushels/acre) : 60.0 59.2 61.0 * 61.0 * Beginning stocks : 119 142 112 112 Production : 352 282 320 320 Imports : 30 25 30 30 Supply, total : 501 449 462 462 Feed and residual : 161 135 130 145 Food, seed & industrial : 170 172 172 172 Total domestic : 331 307 302 317 Exports : 28 30 25 25 Use, total : 360 337 327 342 Ending stocks, total : 142 112 135 120 Avg. farm price ($/bu) 2/ : 1.98 2.15 1.75- 2.15 1.80- 2.20 : OATS : Area planted (mil. acres) : 4.9 4.7 4.4 * 4.4 * Area harv. (mil. acres) : 2.8 2.5 2.5 * 2.5 * Yield (bushels/acre) : 60.2 59.6 59.8 * 59.8 * Beginning stocks : 74 81 78 78 Production : 166 146 148 148 Imports : 108 100 100 100 Supply, total : 348 328 326 326 Feed and residual : 196 180 180 180 Food, seed & industrial : 69 68 68 68 Total domestic : 265 248 248 248 Exports : 2 2 2 2 Use, total : 266 250 250 250 Ending stocks, total : 81 78 76 76 Avg. farm price ($/bu) 2/ : 1.10 1.10 0.90- 1.30 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. * Planted acres reported in March 31, 2000, Prospective Plantings. Sorghum and barley: Harvested acres projected by using relationship between planted and harvested for 1996-99, excluding 1998 for sorghum and 1997-99 for barley. For sorghum, barley, and oats projected yield derived from simple linear trend fit over 1960-99 period. Oats: Harvested acres reported in March 31, 2000, Prospective Plantings. WASDE-363-12 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :============================== : : Est. : May June =============================================================================== TOTAL : Area : Million acres Planted : 3.35 3.58 3.40 * 3.40 * Harvested : 3.32 3.56 3.37 * 3.37 * Yield per harvested : Pounds acre : 5,669 5,908 5,935 * 5,935 * : Million hundredweight Beginning stocks 2/ : 27.9 22.1 39.5 38.5 Production : 188.1 210.5 200.0 200.0 Imports : 10.5 10.8 11.0 11.0 Supply, total : 226.5 243.3 250.5 249.5 Domestic & residual 3/ : 119.1 116.8 119.6 119.6 Exports, total 4/ : 85.3 88.0 87.0 88.0 Rough : 25.8 25.0 23.0 25.0 Milled (rough equiv.) : 59.6 63.0 64.0 63.0 Use, total : 204.4 204.8 206.6 207.6 Ending stocks : 22.1 38.5 43.9 41.9 Avg. milling yield (%) 5/ : 69.3 69.5 69.5 69.5 Avg. farm price ($/cwt) 6/ : 8.89 6.10- 6.20 4.75- 5.75 4.75- 5.75 : LONG GRAIN : Harvested acres (mil.) : 2.61 2.74 Yield (pounds/acre) : 5,430 5,629 Beginning stocks : 14.5 14.1 31.5 31.0 Production : 141.6 154.1 138.2 138.2 Supply, total 7/ : 164.7 177.7 179.5 179.0 Domestic & Residual 3/ : 79.9 77.7 80.0 80.0 Exports 8/ : 70.7 69.0 68.0 69.0 Use, total : 150.6 146.7 148.0 149.0 Ending stocks : 14.1 31.0 31.5 30.0 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.71 0.82 Yield (pounds/acre) : 6,548 6,835 Beginning stocks : 12.3 6.8 6.8 6.3 Production : 46.4 56.3 61.8 61.8 Supply, total 7/ : 60.7 64.3 69.8 69.3 Domestic & Residual 3/ : 39.2 39.1 39.6 39.6 Exports 8/ : 14.6 19.0 19.0 19.0 Use, total : 53.9 58.1 58.6 58.6 Ending stocks : 6.8 6.3 11.2 10.7 =============================================================================== 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): 1998/99-1.0; 1999/00-1.2 2000/01-1.2. 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/ Expressed as a percent, i.e., the total quantitiy of whole kernel and broken rice produced divided by the quantity of rough rice milled. 6/ Marketing-year weighted average price received by farmers. 7/ Includes imports. 8/ Exports by type of rice are estimated. * Planted acres reported in March 31, 2000 Prospective Plantings. Harvested acres projected using harvested-to-planted ratios by State and type of rice for 1995-99. Projected yield for the U.S. is calculated using an Olympic average (high and low years excluded) by State and type of rice. A five year Olympic average for the years 1995-1999 is used in all States except California where a ten year Olympic average for the years 1990-1999 is used. WASDE-363-13 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :=============================== : : Est. : May June =============================================================================== SOYBEANS: : Million acres Area : Planted : 72.0 73.8 74.9 * 74.9 * Harvested : 70.4 72.5 73.9 * 73.9 * : : Bushels Yield per harvested : acre : 38.9 36.5 40.0 * 40.0 * : : Million bushels : Beginning stocks : 200 348 300 300 Production : 2,741 2,643 2,955 2,955 Imports : 3 3 3 3 Supply, total : 2,944 2,994 3,258 3,258 Crushings : 1,590 1,570 1,620 1,610 Exports : 801 955 970 980 Seed : 88 90 91 90 Residual : 116 79 82 83 Use, total : 2,595 2,694 2,763 2,763 Ending stocks : 348 300 495 495 Avg. farm price ($/bu) 2/ : 4.93 4.65 4.00- 5.00 4.00 - 5.00 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,382 1,520 1,900 1,785 Production : 18,081 17,725 _3/ 18,385 18,275 Imports : 82 90 90 90 Supply, total : 19,546 19,335 20,375 20,150 Domestic : 15,655 16,150 16,700 16,500 Exports : 2,372 1,400 1,800 1,800 Use, total : 18,027 17,550 18,500 18,300 Ending stocks : 1,520 1,785 1,875 1,850 Average price (c/lb) 2/ : 19.90 16.25 15.00- 15.00- : 18.00 18.00 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 218 330 300 325 Production : 37,792 37,245 _3/ 38,485 38,235 Imports : 99 50 65 65 Supply, total : 38,109 37,625 38,850 38,625 Domestic : 30,662 30,400 31,600 31,200 Exports : 7,117 6,900 7,000 7,150 Use, total : 37,779 37,300 38,600 38,350 Ending stocks : 330 325 250 275 Average price ($/s.t.) 2/ : 138.50 167.50 145.00- 145.00- : 170.00 175.00 =============================================================================== 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 1,565 million bushels. *Planted acres are reported in March 31 Prospective Plantings. Harvested acres based on normal planted-to-harvested ratio. Projected yield based on U.S. trends since the mid-1980's. WASDE-363-14 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :====================== : : Estimate : May June ====================================================================== : 1,000 short tons, raw value Beginning stocks 2/ : 1,679 1,639 1,967 1,938 Production 2/3/ : 8,374 9,076 9,023 9,023 Beet sugar : 4,423 4,950 4,700 4,700 Cane sugar 4/ : 3,951 4,126 4,323 4,323 Imports 2/ : 1,824 1,702 NA NA TRQ 5/ : 1,256 1,204 NA NA Other 6/ : 568 498 448 448 Total supply : 11,877 12,417 NA NA : Exports 2/7/ : 230 229 175 175 Domestic deliveries 2/ : 10,066 10,250 10,385 10,385 Domestic food use : 9,872 10,115 10,238 10,225 Other 8/ : 194 135 147 160 Miscellaneous 9/ : (58) 0 0 0 Use, total : 10,238 10,479 10,560 10,560 Ending stocks 2/ 10/ : 1,639 1,938 NA NA : Stocks to use ratio : 16.0 18.5 NA NA ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. 2/ Historical data are from FSA, "Sweetener Market Data" except imports from U.S. Customs Service. 3/ Projections for 2000/01 are based on March Planting Intentions and analyses by the Interagency Commodity Estimates Committee for sugar. 4/ Production by state for 1999/2000 (projected 2000/01): FL 1,976 (2,090); HI 360 (330); LA 1,680 (1,720); TX 105 (160); PR 5 (23). 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. 10/ Includes 141,240 tons of sugar purchased by the Commodity Credit Corportation. 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-363-15 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :=============================== : : Est. : May June =============================================================================== : Million acres Area : Planted : 13.39 14.87 15.56 * 15.56 * Harvested : 10.68 13.42 14.36 * 14.36 * : : Pounds Yield per harvested : acre : 625 607 635 * 635 * : : Million 480 pound bales : Beginning stocks 2/ : 3.89 3.94 4.30 4.10 Production : 13.92 16.97 19.00 19.00 Imports : 0.44 0.10 0.05 0.05 Supply, total : 18.25 21.01 23.35 23.15 Domestic use : 10.40 10.10 10.20 10.20 Exports : 4.34 6.80 8.00 8.00 Use, total : 14.75 16.90 18.20 18.20 Unaccounted 3/ : -0.44 0.01 0.05 0.05 Ending stocks : 3.94 4.10 5.10 4.90 : Avg. farm price 4/ : 60.2 44.8 5/ 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. The 1999/2000 price is a weighted average price for upland cotton for August-April. 5/ USDA is prohibited by law from publishing cotton price projections. * Planted area reported in March 31 Prospective Plantings. Projected harvested area based on 1990-1999 average acreage abandonment by State. Projected yield based on 1990-1999 average yield by State. 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 23.5 percent. WASDE-363-16 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1998/99 : World 3/ : 138.37 589.19 120.20 107.14 590.97 120.77 136.59 United States : 19.66 69.33 2.80 10.78 37.69 28.36 25.74 Total foreign : 118.71 519.86 117.39 96.37 553.29 92.41 110.84 Major exporters 4/ : 22.28 161.47 25.40 52.41 105.23 74.83 29.09 Argentina : 0.42 12.20 0.03 0.10 4.15 8.20 0.30 Australia : 1.35 22.11 0.06 2.79 5.11 16.00 2.40 Canada : 6.01 24.08 0.15 4.22 8.16 14.71 7.37 EU-15 : 14.50 103.09 25.17 45.31 87.81 35.93 19.02 Major importers 5/ : 50.19 179.22 36.02 19.16 213.82 4.78 46.82 Brazil : 0.55 2.19 7.12 0.20 9.30 0.00 0.55 China : 33.46 109.73 0.82 5.00 115.66 0.44 27.90 East. Europe : 7.34 33.84 2.17 12.35 32.74 3.77 6.84 N. Africa : 4.41 14.20 16.93 0.31 28.58 0.17 6.79 Pakistan : 3.21 18.69 3.10 0.40 21.26 0.00 3.75 Selected other : India : 10.08 66.35 1.99 0.35 67.34 0.00 11.08 FSU-12 6/ : 17.14 55.85 5.32 17.07 64.81 7.95 5.55 Russia : 8.00 27.00 2.50 11.15 35.28 1.22 1.00 Kazakstan : 3.00 4.70 0.02 1.10 4.64 2.28 0.80 : : 1999/00 (Estimated) : World 3/ : 136.59 586.66 124.12 105.50 597.37 126.78 125.88 United States : 25.74 62.66 2.56 8.85 36.33 29.67 24.97 Total foreign : 110.84 524.00 121.57 96.66 561.03 97.11 100.91 Major exporters 4/ : 29.09 162.74 25.33 55.05 107.53 83.53 26.10 Argentina : 0.30 15.00 0.03 0.30 4.50 10.50 0.33 Australia : 2.40 24.10 0.05 3.30 5.63 18.00 2.93 Canada : 7.37 26.85 0.15 4.50 8.45 18.50 7.42 EU-15 : 19.02 96.79 25.10 46.95 88.95 36.53 15.44 Major importers 5/ : 46.82 176.26 33.83 17.76 213.66 3.62 39.63 Brazil : 0.55 2.50 7.00 0.20 9.50 0.00 0.55 China : 27.90 115.00 1.00 5.00 117.00 0.50 26.40 East. Europe : 6.84 28.62 2.23 10.95 30.68 2.55 4.45 N. Africa : 6.79 11.71 15.20 0.31 28.88 0.17 4.65 Pakistan : 3.75 17.85 2.50 0.40 21.40 0.00 2.70 Selected other : India : 11.08 70.78 1.70 0.35 69.25 0.20 14.11 FSU-12 6/ : 5.55 64.94 7.79 17.18 65.11 6.80 6.37 Russia : 1.00 31.00 4.80 11.30 35.50 0.30 1.00 Kazakstan : 0.80 11.20 0.02 1.50 5.00 4.50 2.52 =============================================================================== 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-363-17 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: =============================================================================== : : 2000/01 (Projected) World 3/ : May : 125.93 580.44 128.17 105.87 596.93 128.95 109.44 June : 125.88 575.81 127.11 104.56 595.44 126.93 106.25 United States : May : 25.54 60.93 2.59 8.17 35.65 30.62 22.78 June : 24.97 60.20 2.72 7.48 35.25 30.62 22.03 Total foreign : May : 100.39 519.51 125.58 97.71 561.28 98.34 86.66 June : 100.91 515.61 124.39 97.08 560.19 96.31 84.23 Major exporters 4/ : May : 26.59 168.65 25.85 57.30 110.65 84.80 25.64 June : 26.10 168.45 25.80 57.28 110.60 84.55 25.20 Argentina May : 0.33 15.00 0.03 0.30 4.50 10.50 0.35 Jun : 0.33 15.00 0.03 0.30 4.50 10.50 0.35 Australia May : 3.33 23.00 0.05 3.40 5.75 18.00 2.63 Jun : 2.93 23.00 0.05 3.40 5.75 18.00 2.23 Canada May : 7.42 24.50 0.15 4.50 8.45 18.00 5.62 Jun : 7.42 24.50 0.15 4.50 8.45 18.00 5.62 EU-15 May : 15.53 106.15 25.63 49.10 91.95 38.30 17.05 Jun : 15.44 105.95 25.58 49.08 91.90 38.05 17.01 Major importers 5/ : May : 38.68 168.38 37.93 16.76 211.77 4.10 29.11 June : 39.63 164.77 37.48 16.16 211.21 3.35 27.33 Brazil May : 0.55 2.20 7.20 0.20 9.50 0.00 0.45 Jun : 0.55 2.20 7.20 0.20 9.50 0.00 0.45 China May : 26.22 107.00 2.50 3.00 115.00 0.50 20.22 Jun : 26.40 104.00 3.50 3.00 115.00 0.50 18.40 East. Europe May : 4.45 31.40 2.33 11.95 30.65 3.03 4.50 Jun : 4.45 28.70 2.88 11.35 29.85 2.28 3.90 N. Africa May : 4.09 9.18 17.50 0.31 28.68 0.17 1.92 Jun : 4.65 9.28 17.50 0.31 28.91 0.17 2.35 Pakistan May : 2.50 18.00 2.50 0.40 21.75 0.00 1.25 Jun : 2.70 20.00 0.50 0.40 21.75 0.00 1.45 Selected other : India May : 14.11 70.00 0.05 0.50 70.00 0.00 14.16 Jun : 14.11 71.00 0.05 0.50 71.00 0.00 14.16 FSU-12 6/ May : 6.37 62.93 6.24 16.78 64.64 6.10 4.80 Jun : 6.37 61.83 6.14 16.78 64.54 5.10 4.70 Russia May : 1.00 33.00 3.00 11.10 35.30 0.50 1.20 Jun : 1.00 33.00 3.00 11.10 35.30 0.50 1.20 Kazakstan May : 2.52 7.00 0.02 1.50 5.00 3.50 1.03 Jun : 2.52 7.00 0.02 1.50 5.00 3.50 1.03 =============================================================================== 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-363-18 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: =============================================================================== : : 1998/99 : World 3/ : 137.93 890.28 108.73 576.93 871.03 107.00 157.18 United States : 38.15 271.47 3.07 152.39 205.37 55.95 51.37 Total foreign : 99.78 618.81 105.66 424.55 665.66 51.05 105.80 Major exporters 4/ : 9.11 62.07 1.55 35.99 46.74 17.40 8.60 Argentina : 2.30 17.76 0.05 7.85 10.00 8.52 1.59 Australia : 1.14 9.60 0.02 4.28 5.12 4.98 0.66 Canada : 4.27 26.57 0.83 19.93 23.37 3.21 5.09 Major importers 5/ : 41.27 200.54 65.52 174.48 237.92 26.33 43.08 EU-15 : 21.89 105.55 17.54 73.39 96.62 23.18 25.18 East. Europe : 10.11 51.74 1.50 40.94 52.46 2.96 7.93 Japan : 2.64 0.15 20.92 16.57 21.27 0.00 2.44 Mexico : 2.85 24.70 9.09 17.47 33.48 0.05 3.11 Southeast Asia : 0.95 15.94 3.14 13.33 18.19 0.14 1.70 South Korea : 0.50 0.49 7.78 6.07 8.29 0.00 0.48 Selected other : China : 27.10 144.19 2.71 95.55 130.99 3.36 39.66 FSU-12 6/ : 12.14 37.92 1.79 26.11 45.31 2.03 4.51 Russia : 7.27 18.95 1.47 13.72 25.72 0.20 1.77 Ukraine : 3.27 10.35 0.04 5.78 10.85 1.24 1.57 : : 1999/00 (Estimated) : World 3/ : 157.18 875.40 110.70 582.91 881.58 114.34 150.99 United States : 51.37 263.38 2.75 158.00 213.39 54.66 49.45 Total foreign : 105.80 612.02 107.95 424.91 668.19 59.68 101.54 Major exporters 4/ : 8.60 65.46 1.40 35.42 48.10 18.52 8.83 Argentina : 1.59 20.56 0.05 8.27 10.70 9.68 1.83 Australia : 0.66 8.00 0.00 3.79 4.68 3.37 0.61 Canada : 5.09 26.77 0.85 19.45 24.08 3.68 4.95 Major importers 5/ : 43.08 200.89 67.26 176.56 240.53 29.38 41.32 EU-15 : 25.18 103.09 17.56 72.26 95.84 26.13 23.86 East. Europe : 7.93 54.49 1.21 40.62 52.31 3.10 8.23 Japan : 2.44 0.21 20.44 16.24 20.78 0.00 2.31 Mexico : 3.11 25.95 9.11 18.88 34.86 0.05 3.26 Southeast Asia : 1.70 14.76 3.65 13.85 18.83 0.10 1.18 South Korea : 0.48 0.49 9.41 7.41 9.86 0.00 0.51 Selected other : China : 39.66 138.55 2.75 97.17 133.26 9.03 38.67 FSU-12 6/ : 4.51 40.87 1.87 26.86 41.57 1.80 3.88 Russia : 1.77 21.80 1.53 14.52 24.13 0.15 0.82 Ukraine : 1.57 9.95 0.06 6.42 9.55 0.85 1.18 =============================================================================== 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-363-19 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: =============================================================================== : : 2000/01 (Projected) World 3/ : May : 151.67 896.01 111.36 590.13 890.81 112.94 156.86 June : 150.99 892.73 112.91 589.01 890.93 115.10 152.79 United States : May : 50.09 270.93 2.73 157.00 213.53 54.55 55.66 June : 49.45 270.93 2.73 157.58 214.11 56.84 52.16 Total foreign : May : 101.58 625.08 108.62 433.14 677.28 58.38 101.20 June : 101.54 621.80 110.17 431.44 676.82 58.26 100.62 Major exporters 4/ : May : 8.93 68.56 0.80 35.82 47.98 19.54 10.77 June : 8.83 68.81 0.80 36.32 48.33 19.69 10.42 Argentina May : 1.58 20.76 0.05 8.12 10.48 10.15 1.76 Jun : 1.83 20.76 0.05 8.22 10.58 10.15 1.91 Australia May : 0.66 8.31 0.00 3.55 4.47 3.81 0.68 Jun : 0.61 8.56 0.00 3.65 4.52 3.96 0.68 Canada May : 4.95 29.57 0.55 20.02 24.26 4.58 6.23 Jun : 4.95 29.57 0.55 20.32 24.46 4.58 6.03 Major importers 5/ : May : 41.19 205.07 66.04 176.93 241.97 30.47 39.86 June : 41.32 201.59 67.54 175.86 240.55 30.19 39.71 EU-15 May : 23.83 106.94 17.11 74.73 98.16 27.12 22.60 Jun : 23.86 106.60 17.11 74.68 98.00 26.92 22.65 East. Europe May : 8.23 54.51 1.26 40.43 52.22 3.20 8.58 Jun : 8.23 51.58 1.91 38.71 50.31 3.13 8.28 Japan May : 2.31 0.16 20.19 14.49 20.48 0.00 2.18 Jun : 2.31 0.16 20.19 14.49 20.48 0.00 2.18 Mexico May : 3.26 26.00 9.16 19.13 34.86 0.05 3.51 Jun : 3.26 26.00 9.51 19.43 35.21 0.05 3.51 Southeast Asia May : 1.18 15.06 3.80 14.17 19.00 0.10 0.93 Jun : 1.18 14.86 3.90 14.17 19.00 0.10 0.83 South Korea May : 0.51 0.49 8.91 6.91 9.31 0.00 0.60 Jun : 0.51 0.49 8.91 6.91 9.31 0.00 0.60 Selected other : China May : 38.67 135.60 3.05 97.77 134.60 6.03 36.69 Jun : 38.67 135.60 2.85 96.57 134.40 6.03 36.69 FSU-12 6/ May : 3.88 45.83 0.88 29.05 44.05 1.19 5.35 Jun : 3.88 45.78 0.88 28.97 44.00 1.19 5.35 Russia May : 0.82 26.50 0.53 15.55 25.20 0.30 2.34 Jun : 0.82 26.50 0.53 15.55 25.20 0.30 2.34 Ukraine May : 1.18 10.10 0.11 6.71 9.95 0.50 0.94 Jun : 1.18 10.10 0.11 6.71 9.95 0.50 0.94 =============================================================================== 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-363-20 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 1998/99 : World 3/ : 88.62 605.94 76.12 408.58 583.51 75.49 111.06 United States : 33.22 247.88 0.48 138.98 185.88 50.31 45.39 Total foreign : 55.40 358.06 75.65 269.60 397.63 25.18 65.66 Major exporters 4/ : 2.94 21.20 0.50 8.50 14.10 8.58 1.96 Argentina : 1.54 13.50 0.00 4.85 6.45 7.88 0.71 South Africa : 1.40 7.70 0.50 3.65 7.65 0.70 1.25 Major importers 5/ : 17.87 95.12 50.10 95.04 134.14 11.60 17.33 EU-15 : 4.37 35.30 11.77 29.93 37.95 8.93 4.56 Japan : 1.45 0.00 16.34 12.10 16.44 0.00 1.36 Mexico : 1.50 17.79 5.62 7.51 23.02 0.05 1.84 Southeast Asia : 0.95 15.74 3.14 13.14 17.99 0.14 1.70 South Korea : 0.50 0.08 7.52 5.92 7.62 0.00 0.48 Selected other : China : 26.00 132.95 0.26 93.02 117.26 3.34 38.62 FSU-12 6/ : 2.73 5.28 0.74 4.35 7.01 0.40 1.34 Russia : 0.55 0.80 0.65 1.15 1.85 0.00 0.15 : : 1999/00 (Estimated) : World 3/ : 111.06 604.41 77.09 421.67 603.15 80.49 112.31 United States : 45.39 239.72 0.38 144.15 193.18 47.63 44.69 Total foreign : 65.66 364.69 76.71 277.52 409.97 32.87 67.62 Major exporters 4/ : 1.96 25.70 0.35 8.70 14.85 10.80 2.36 Argentina : 0.71 16.00 0.00 5.00 6.80 9.00 0.91 South Africa : 1.25 9.70 0.35 3.70 8.05 1.80 1.45 Major importers 5/ : 17.33 101.75 50.71 99.25 138.59 12.06 19.14 EU-15 : 4.56 37.24 11.54 30.32 38.35 9.13 5.86 Japan : 1.36 0.00 16.25 12.15 16.35 0.00 1.26 Mexico : 1.84 19.00 4.60 7.65 23.10 0.05 2.29 Southeast Asia : 1.70 14.56 3.65 13.66 18.63 0.10 1.18 South Korea : 0.48 0.08 9.00 7.10 9.05 0.00 0.51 Selected other : China : 38.62 128.00 0.25 95.00 119.95 9.00 37.92 FSU-12 6/ : 1.34 5.46 0.76 4.65 6.30 0.15 1.11 Russia : 0.15 1.10 0.70 1.15 1.85 0.00 0.10 =============================================================================== 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-363-21 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: =============================================================================== : : 2000/01 (Projected) World 3/ : May : 112.93 614.93 77.00 426.97 608.86 78.19 119.00 June : 112.31 614.73 77.85 427.96 611.25 79.69 115.79 United States : May : 45.32 247.41 0.25 144.15 194.32 48.26 50.40 June : 44.69 247.41 0.25 144.79 194.95 50.17 47.23 Total foreign : May : 67.61 367.52 76.75 282.82 414.54 29.93 68.60 June : 67.62 367.32 77.60 283.17 416.29 29.53 68.56 Major exporters 4/ : May : 2.46 26.00 0.05 8.90 15.00 10.50 3.01 June : 2.36 26.00 0.05 9.00 15.10 10.50 2.81 Argentina May : 0.71 16.50 0.00 5.00 6.80 9.50 0.91 Jun : 0.91 16.50 0.00 5.10 6.90 9.50 1.01 South Africa May : 1.75 9.50 0.05 3.90 8.20 1.00 2.10 Jun : 1.45 9.50 0.05 3.90 8.20 1.00 1.80 Major importers 5/ : May : 19.00 103.50 49.95 98.76 140.08 12.12 20.25 June : 19.14 103.30 50.65 99.56 140.73 11.72 20.64 EU-15 May : 5.82 38.77 11.11 31.06 39.78 8.99 6.91 Jun : 5.86 38.77 11.11 31.26 39.93 8.59 7.20 Japan May : 1.26 0.00 16.10 10.50 16.15 0.00 1.21 Jun : 1.26 0.00 16.10 10.50 16.15 0.00 1.21 Mexico May : 2.29 19.00 5.00 8.40 23.60 0.05 2.64 Jun : 2.29 19.00 5.00 8.40 23.60 0.05 2.64 Southeast Asia May : 1.18 14.86 3.80 13.98 18.80 0.10 0.93 Jun : 1.18 14.66 3.90 13.98 18.80 0.10 0.83 South Korea May : 0.51 0.09 8.50 6.60 8.50 0.00 0.60 Jun : 0.51 0.09 8.50 6.60 8.50 0.00 0.60 Selected other : China May : 37.92 125.00 0.25 96.00 121.00 6.00 36.17 Jun : 37.92 125.00 0.25 95.00 121.00 6.00 36.17 FSU-12 6/ May : 1.11 7.18 0.26 5.24 6.85 0.25 1.45 Jun : 1.11 7.18 0.26 5.24 6.85 0.25 1.45 Russia May : 0.10 2.00 0.20 1.40 2.10 0.00 0.20 Jun : 0.10 2.00 0.20 1.40 2.10 0.00 0.20 =============================================================================== 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-363-22 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 : =============================================================================== : : 1998/99 : World 3/ : 54.89 393.95 25.89 389.24 26.78 59.60 United States : 0.88 5.91 0.33 3.75 2.68 0.69 Total foreign : 54.01 388.04 25.56 385.50 24.10 58.90 Major exporters 4/ : 11.67 125.96 0.07 108.27 16.42 13.01 Thailand : 1.05 15.18 0.00 8.90 6.68 0.65 Vietnam : 0.00 20.11 0.06 15.61 4.56 0.00 Major importers 5/ : 7.05 52.57 12.57 61.68 1.28 9.22 Indonesia : 3.53 32.10 3.90 35.50 0.00 4.03 Selected other : China : 26.72 139.10 0.17 136.75 2.71 26.54 Japan : 3.05 8.15 0.65 9.10 0.20 2.55 : : 1999/00 (Estimated) : World 3/ : 59.60 402.65 20.82 400.04 23.07 62.20 United States : 0.69 6.64 0.34 3.68 2.77 1.21 Total foreign : 58.90 396.01 20.48 396.36 20.30 60.99 Major exporters 4/ : 13.01 127.95 0.09 112.34 12.45 16.26 Thailand : 0.65 15.85 0.00 9.00 6.00 1.50 Vietnam : 0.00 20.50 0.04 17.14 3.40 0.00 Major importers 5/ : 9.22 53.13 9.42 62.69 1.18 7.89 Indonesia : 4.03 32.10 2.00 35.70 0.00 2.43 Selected other : China : 26.54 141.00 0.20 138.00 2.80 26.94 Japan : 2.55 8.35 0.72 9.45 0.40 1.77 : : 2000/01 (Projected) World 3/ : May : 62.55 400.31 23.30 403.00 25.20 59.86 June : 62.20 400.31 23.30 403.00 25.20 59.51 United States : May : 1.25 6.31 0.35 3.77 2.74 1.38 June : 1.21 6.31 0.35 3.77 2.77 1.32 Total foreign : May : 61.30 394.00 22.95 399.23 22.46 58.47 June : 60.99 394.00 22.95 399.23 22.43 58.19 =============================================================================== 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-363-23 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/ : 13.40 158.02 39.36 126.25 148.63 40.51 21.64 United States : 3.59 73.18 0.14 43.46 47.70 23.76 5.44 Total foreign : 9.81 84.84 39.23 82.79 100.93 16.75 16.21 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/ : 1.72 18.28 29.94 34.85 47.10 1.00 1.85 EU-15 : 0.78 1.57 16.60 15.57 17.20 0.82 0.94 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/ : 21.64 159.35 40.03 134.48 158.12 38.48 24.43 United States : 5.44 74.60 0.08 43.26 48.82 21.81 9.48 Total foreign : 16.21 84.75 39.95 91.21 109.30 16.67 14.94 Major exporters 3/ : 13.73 54.20 1.10 39.02 42.08 14.53 12.42 Argentina : 7.23 19.90 0.50 17.51 18.27 3.23 6.12 Brazil : 6.50 31.30 0.60 21.01 23.20 8.90 6.30 Major importers 4/ : 1.85 18.63 31.30 36.89 49.10 0.84 1.83 EU-15 : 0.94 1.54 16.49 15.77 17.35 0.66 0.96 Japan : 0.63 0.16 4.81 3.70 4.98 0.00 0.62 China : 0.00 15.15 3.85 12.00 18.82 0.18 0.00 : : 1999/00 (Projected) World 2/ : May : 24.40 155.14 43.36 136.06 159.24 43.30 20.34 June : 24.43 155.20 44.59 136.40 159.58 44.65 19.99 United States : May : 9.48 71.93 0.08 43.14 47.74 25.58 8.17 June : 9.48 71.93 0.08 42.73 47.34 25.99 8.17 Total foreign : May : 14.92 83.22 43.27 92.92 111.50 17.71 12.18 June : 14.94 83.27 44.51 93.68 112.24 18.66 11.82 Major exporters 3/ : May : 12.42 54.50 1.20 39.90 42.97 15.40 9.75 June : 12.42 54.50 1.20 39.30 42.37 16.30 9.45 Argentina May : 6.12 21.00 0.50 17.80 18.57 4.10 4.95 Jun : 6.12 21.00 0.50 17.00 17.77 5.10 4.75 Brazil May : 6.30 31.00 0.70 21.70 23.90 9.30 4.80 Jun : 6.30 31.00 0.70 21.90 24.10 9.20 4.70 Major importers 4/ : May : 1.80 17.37 33.98 38.22 50.72 0.83 1.58 June : 1.83 17.36 35.19 39.46 51.86 0.90 1.63 EU-15 May : 0.94 1.14 16.48 15.60 17.06 0.70 0.79 Jun : 0.96 1.14 16.36 15.58 16.96 0.69 0.81 Japan May : 0.62 0.19 4.75 3.68 4.96 0.00 0.60 Jun : 0.62 0.19 4.75 3.68 4.96 0.00 0.60 China May : 0.00 14.29 5.90 13.18 20.07 0.13 0.00 Jun : 0.00 14.29 7.20 14.40 21.29 0.20 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-363-24 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/ : 3.74 100.38 37.04 100.40 37.11 3.65 United States : 0.19 34.63 0.05 26.21 8.46 0.20 Total foreign : 3.55 65.75 36.99 74.19 28.65 3.45 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/ : 1.18 21.81 25.37 42.28 5.09 0.99 EU-15 : 0.86 12.20 16.63 23.85 5.04 0.80 China : 0.00 8.58 4.20 12.76 0.02 0.00 : : 1998/99 (Estimated) World 2/ : 3.65 106.22 38.69 105.05 39.07 4.44 United States : 0.20 34.28 0.09 27.82 6.46 0.30 Total foreign : 3.45 71.94 38.60 77.24 32.61 4.14 Major exporters 3/ : 1.31 34.81 0.10 8.46 26.35 1.41 Argentina : 0.36 14.00 0.00 0.46 13.40 0.50 Brazil : 0.94 16.60 0.10 6.65 10.15 0.84 India : 0.00 4.21 0.00 1.34 2.80 0.07 Major importers 4/ : 0.99 22.99 25.84 43.50 5.14 1.18 EU-15 : 0.80 12.25 19.14 26.12 5.13 0.93 China : 0.00 9.54 1.40 10.93 0.01 0.00 : : 1999/00 (Projected) World 2/ : May : 4.50 107.34 38.51 107.39 38.70 4.26 June : 4.44 107.63 38.50 107.69 38.65 4.23 United States : May : 0.30 34.13 0.05 28.03 6.17 0.27 June : 0.30 33.79 0.05 27.58 6.26 0.30 Total foreign : May : 4.20 73.22 38.46 79.36 32.53 3.98 June : 4.14 73.84 38.45 80.11 32.39 3.93 Major exporters 3/ : May : 1.41 34.92 0.10 8.85 26.22 1.35 June : 1.41 34.43 0.10 8.58 26.05 1.31 Argentina May : 0.50 14.40 0.00 0.47 14.00 0.43 Jun : 0.50 13.75 0.00 0.47 13.35 0.43 Brazil May : 0.84 17.08 0.10 6.95 10.15 0.92 Jun : 0.84 17.24 0.10 6.75 10.55 0.88 India May : 0.07 3.44 0.00 1.43 2.08 0.00 Jun : 0.07 3.44 0.00 1.36 2.15 0.00 Major importers 4/ : May : 1.23 23.75 25.12 43.80 5.16 1.14 June : 1.18 24.79 25.28 44.91 5.21 1.13 EU-15 May : 0.97 12.03 19.25 26.23 5.15 0.88 Jun : 0.93 12.02 19.05 25.94 5.19 0.87 China May : 0.00 10.48 0.40 10.86 0.01 0.00 Jun : 0.00 11.51 0.70 12.19 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-363-25 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/ : 2.53 22.93 6.72 22.45 7.11 2.62 United States : 0.69 8.23 0.03 6.92 1.40 0.63 Total foreign : 1.84 14.70 6.69 15.52 5.71 2.00 Major exporters 3/ : 0.84 8.80 0.73 4.51 4.96 0.90 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 : 0.16 2.83 0.53 1.68 1.68 0.15 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/ : 2.62 24.47 7.86 24.64 8.01 2.30 United States : 0.63 8.20 0.04 7.10 1.08 0.69 Total foreign : 2.00 16.26 7.83 17.54 6.94 1.61 Major exporters 3/ : 0.90 9.95 0.79 4.70 6.17 0.78 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 : 0.15 2.86 0.58 1.86 1.59 0.15 Major importers 4/ : 0.60 2.94 2.19 5.33 0.08 0.32 China : 0.58 1.97 0.95 3.12 0.08 0.30 Pakistan : 0.02 0.00 0.41 0.41 0.00 0.02 : : 1999/00 (Projected) World 2/ : May : 2.28 24.53 7.34 24.50 7.39 2.26 June : 2.30 24.74 7.42 24.78 7.44 2.24 United States : May : 0.69 8.14 0.04 7.37 0.64 0.86 June : 0.69 8.04 0.04 7.33 0.64 0.81 Total foreign : May : 1.59 16.40 7.30 17.13 6.76 1.40 June : 1.61 16.70 7.38 17.45 6.80 1.43 Major exporters 3/ : May : 0.78 9.92 0.77 4.60 6.07 0.80 June : 0.78 10.01 0.77 4.78 5.97 0.81 Argentina May : 0.31 3.22 0.00 0.11 3.13 0.29 Jun : 0.31 3.07 0.00 0.11 3.00 0.27 Brazil May : 0.33 4.08 0.22 2.86 1.37 0.39 Jun : 0.33 4.12 0.22 2.86 1.40 0.40 EU-15 May : 0.15 2.63 0.55 1.64 1.57 0.12 Jun : 0.15 2.82 0.55 1.81 1.57 0.14 Major importers 4/ : May : 0.32 2.96 1.78 4.82 0.08 0.16 June : 0.32 3.18 1.62 4.88 0.08 0.16 China May : 0.30 2.16 0.68 2.91 0.08 0.15 Jun : 0.30 2.37 0.63 3.07 0.08 0.15 Pakistan May : 0.02 0.01 0.25 0.26 0.00 0.01 Jun : 0.02 0.01 0.25 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-363-26 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/ : : =============================================================================== : : 1998/99 : World : 43.87 84.55 25.25 84.77 23.59 -0.15 45.46 United States : 3.89 13.92 0.44 10.40 4.34 -0.44 3.94 Total foreign : 39.99 70.63 24.81 74.37 19.25 0.29 41.52 Major exporters 5/ : 12.25 37.63 1.64 23.66 15.29 0.07 12.50 Pakistan : 1.52 6.30 0.93 7.00 0.01 0.03 1.71 India : 4.17 12.73 0.51 12.62 0.20 0.00 4.59 Central Asia 6/ : 1.56 6.60 0.01 1.24 5.39 0.00 1.54 Afr. Fr. Zone 7/ : 0.92 4.03 4/ 0.26 3.57 0.00 1.11 S. Hemis. 8/ : 2.52 5.38 0.20 1.20 4.53 0.02 2.35 Australia : 1.10 3.29 4/ 0.19 3.04 0.00 1.17 Argentina : 1.04 0.90 0.02 0.40 0.75 0.01 0.80 Major importers : 25.95 30.00 18.03 43.79 2.72 0.21 27.26 Brazil : 1.49 2.10 1.36 3.50 0.00 0.00 1.45 Mexico : 0.36 1.00 1.49 2.15 0.22 0.04 0.45 China : 19.96 20.70 0.36 19.20 0.68 0.00 21.13 Europe : 2.00 2.30 5.42 6.31 1.32 0.09 1.99 Turkey : 0.56 3.85 1.14 4.60 0.36 0.00 0.58 Selected Asia 9/ : 1.60 0.05 8.27 8.03 0.13 0.09 1.67 Indonesia : 0.14 0.01 2.33 2.20 0.00 0.04 0.24 South Korea : 0.43 4/ 1.47 1.46 0.04 0.00 0.41 : : 1999/00 (Estimated) : World : 45.46 87.20 27.32 90.76 26.95 0.29 41.99 United States : 3.94 16.97 0.10 10.10 6.80 0.01 4.10 Total foreign : 41.52 70.24 27.22 80.66 20.15 0.28 37.89 Major exporters 5/ : 12.50 39.98 1.94 24.96 15.68 0.07 13.70 Pakistan : 1.71 8.40 0.37 7.50 0.50 0.03 2.46 India : 4.59 12.60 1.20 13.30 0.05 0.00 5.04 Central Asia 6/ : 1.54 7.41 0.01 1.38 5.82 0.00 1.76 Afr. Fr. Zone 7/ : 1.11 3.99 4/ 0.26 3.66 0.00 1.19 S. Hemis. 8/ : 2.35 5.05 0.24 1.21 4.29 0.02 2.12 Australia : 1.17 3.20 4/ 0.19 3.00 0.00 1.18 Argentina : 0.80 0.60 0.04 0.40 0.50 0.01 0.52 Major importers : 27.26 27.48 19.13 48.03 3.36 0.20 22.27 Brazil : 1.45 2.60 1.60 3.90 0.00 0.00 1.75 Mexico : 0.45 0.63 1.90 2.40 0.15 0.03 0.40 China : 21.13 17.60 0.20 22.00 1.40 0.00 15.53 Europe : 1.99 2.65 5.49 6.33 1.48 0.08 2.24 Turkey : 0.58 3.95 1.70 5.40 0.20 0.00 0.63 Selected Asia 9/ : 1.67 0.05 8.24 8.00 0.13 0.10 1.72 Indonesia : 0.24 0.01 2.10 2.05 0.00 0.05 0.26 South Korea : 0.41 4/ 1.55 1.50 0.04 0.00 0.42 =============================================================================== 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 1.38 million bales in 1998/99 and 2.12 million in 1999/2000. 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-363-27 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/ : : =============================================================================== : : 2000/01 (Projected) World : May : 42.55 86.00 28.00 92.00 27.70 0.30 36.55 June : 41.99 87.00 28.00 92.00 27.70 0.30 36.99 United States : May : 4.30 19.00 0.05 10.20 8.00 0.05 5.10 June : 4.10 19.00 0.05 10.20 8.00 0.05 4.90 Total foreign : May : 38.25 67.00 27.95 81.80 19.70 0.25 31.45 June : 37.89 68.00 27.95 81.80 19.70 0.25 32.09 =============================================================================== 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. WASDE-363-28 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 1999 : II : 6627 4630 11367 7592 1336 9070 20437 1706 42.0 III : 6838 4672 11624 7486 1362 8986 20610 1728 39.8 IV : 6522 5110 11756 7367 1393 8894 20650 1786 40.4 Annual : 26386 19278 46134 29741 5297 35590 81724 6912 162.7 : 2000 : I : 6653 4824 11595 7602 1284 9018 20613 1754 42.6 II *: 6730 4500 11337 7800 1350 9290 20627 1750 43.3 III *: 6775 4575 11452 7800 1375 9315 20767 1760 40.8 IV *: 6100 4875 11083 7800 1400 9335 20418 1815 40.7 Annual : May Proj : 26253 18774 45462 30992 5409 36954 82416 7067 167.4 Jun Proj : 26258 18774 45467 31002 5409 36958 82425 7079 167.4 : 2001 : I *: 6400 4700 11211 8000 1275 9415 20626 1770 42.3 Annual : May Proj : 25100 18850 44365 32500 5450 38515 82880 7170 167.1 Jun Proj : 25100 18850 44365 32500 5450 38515 82880 7170 167.1 =============================================================================== * 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 1999 : II : 65.04 35.18 58.6 65.8 58.1 12.80 III : 65.12 35.70 58.1 73.8 66.2 14.87 IV : 69.65 36.29 57.6 76.9 63.2 13.83 Annual : 65.56 34.00 58.1 69.0 65.6 14.36 : 2000 : I : 69.32 41.14 54.6 62.9 63.3 11.90 II *: 71-72 50-51 55-56 69-70 58-59 11.90-12.10 III *: 66-70 47-49 57-59 69-73 60-64 12.85-13.35 IV *: 68-74 40-44 54-58 74-80 62-68 13.85-14.65 Annual : May Proj : 68-71 44-46 55-57 68-71 60-62 12.45-12.95 Jun Proj : 69-71 45-46 55-57 69-71 61-63 12.60-13.00 : 2001 : I *: 69-75 42-46 51-55 60-64 60-66 12.05-13.05 Annual : May Proj : 70-76 43-47 53-58 65-71 56-60 12.25-13.25 Jun Proj : 70-76 43-47 53-58 65-71 59-63 12.30-13.30 =============================================================================== *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 large, New York, volume buyers. 6/ Price received by farmers for all milk. WASDE-363-29 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 : 1999 : 393 26493 2874 29760 2411 411 26938 69.0 2000 Proj. May : 411 26359 3015 29785 2400 365 27020 68.6 Jun : 411 26364 3029 29804 2515 365 26924 68.4 2001 Proj. May : 365 25206 3050 28621 2345 365 25911 65.3 Jun : 365 25206 3050 28621 2435 365 25821 65.0 : PORK : 1999 : 584 19308 827 20720 1285 489 18945 53.8 2000 Proj. May : 488 18804 945 20237 1200 500 18537 52.2 Jun : 489 18804 1005 20298 1275 500 18523 52.1 2001 Proj. May : 500 18880 915 20295 1200 500 18595 51.9 Jun : 500 18880 1005 20385 1305 500 18580 51.9 : TOTAL RED MEAT 4/ : 1999 : 994 46284 3813 51092 3701 914 46476 124.7 2000 Proj. May : 913 45611 4074 50598 3606 879 46113 122.5 Jun : 914 45616 4148 50678 3796 879 46003 122.3 2001 Proj. May : 879 44514 4079 49472 3549 879 45044 118.8 Jun : 879 44514 4169 49562 3744 879 44939 118.6 : BROILERS : 1999 : 711 29468 4 30183 4866 796 24521 77.1 2000 Proj. May : 796 30701 4 31501 4950 890 25661 80.0 Jun : 796 30711 4 31510 5030 850 25630 79.9 2001 Proj. May : 890 32165 4 33059 5000 880 27179 84.0 Jun : 850 32165 4 33019 5050 880 27089 83.7 : TURKEYS : 1999 : 304 5230 1 5535 379 254 4902 17.9 2000 Proj. May : 254 5341 0 5595 400 250 4945 17.9 Jun : 254 5341 0 5595 425 250 4920 17.8 2001 Proj. May : 250 5380 1 5631 410 275 4945 17.8 Jun : 250 5380 1 5631 410 275 4945 17.8 : TOTAL POULTRY 5/ : 1999 : 1022 35252 7 36281 5638 1058 29585 95.7 2000 Proj. May : 1058 36596 6 37659 5775 1145 30737 98.4 Jun : 1058 36600 6 37664 5874 1105 30683 98.2 2001 Proj. May : 1145 38109 7 39261 5850 1165 32245 102.2 Jun : 1105 38109 7 39221 5900 1165 32155 101.9 : RED MEAT & POULTRY: 1999 : 2016 81537 3820 87372 9340 1972 76061 220.4 2000 Proj. May : 1971 82207 4080 88257 9381 2024 76851 220.9 Jun : 1972 82216 4154 88342 9669 1984 76687 220.4 2001 Proj. May : 2024 82623 4086 88733 9399 2044 77289 221.1 Jun : 1984 82623 4176 88783 9644 2044 77094 220.5 ============================================================================ 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-363-30 U.S. Egg Supply and Use =============================================================================== : : : 2000 Projected : 2001 Projected : : :-----------------:----------------- Commodity : 1998 : 1999 : May : Jun : May : Jun =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 7.4 8.4 7.6 7.6 5.0 5.0 Production : 6657.9 6912.0 7067.0 7079.1 7170.0 7170.0 Imports : 5.8 7.4 4.0 4.0 5.0 5.0 Total supply : 6671.2 6927.8 7078.6 7090.7 7180.0 7180.0 : Use : Exports : 218.8 161.7 160.0 163.0 170.0 170.0 Hatching use : 921.8 941.7 972.4 967.4 1015.0 1015.0 Ending stocks : 8.4 7.6 5.0 5.0 5.0 5.0 Consumption : Total : 5522.2 5816.8 5941.2 5955.3 5990.0 5990.0 Per capita (number) : 244.9 255.5 258.6 259.2 258.6 258.6 =============================================================================== U.S. Milk Supply, Use and Prices =============================================================================== : : : 1999/00 Proj 1/: 2000/01 Proj 1/ Commodity :1997/98:1998/99:-----------------:----------------- : 1/ : 1/ : May : Jun : May : Jun =============================================================================== MILK : Billion pounds Supply : Beg. commercial stocks 2/ : 5.9 5.8 7.4 7.4 7.0 7.0 Production : 156.5 161.2 167.2 167.1 167.0 167.0 Farm use : 1.4 1.4 1.3 1.3 1.3 1.3 Marketings : 155.1 159.8 165.8 165.8 165.7 165.7 Imports 2/ : 4.1 4.8 4.1 4.1 4.0 4.0 Total cml. supply 2/ : 165.1 170.4 177.3 177.3 176.7 176.7 Use : Commercial use 2/ 3/ : 158.6 162.7 169.5 169.4 169.6 169.6 Ending commercial stks. 2/: 5.8 7.4 7.0 7.0 6.8 6.8 CCC net removals: : Milkfat basis 4/ : 0.7 0.3 0.9 0.9 0.3 0.3 Skim-solids basis 4/ : 4.5 5.4 8.7 8.6 2.6 2.6 : : Dollars per cwt Milk Prices : Basic Formula/Class III 5/: 13.28 14.04 10.10- 10.00- 10.55- 10.60- : 10.30 10.20 11.55 11.60 : Class IV : NA NA 11.35- 11.55- 10.70- 10.75- : 11.65 11.85 11.90 11.95 : All milk 6/ : 14.60 15.37 12.50- 12.60- 12.20- 12.20- : 12.70 12.80 13.20 13.20 : : Million pounds CCC product net removals 4/: Butter : 21 1 15 15 10 10 Cheese : 8 6 15 15 6 6 Nonfat dry milk : 368 449 710 705 215 215 Dry whole milk : 15 12 35 35 0 0 =============================================================================== 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 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-363-31 Note: Tables on pages 31-33 present a 19-year record of the differences between the June projection and the final estimate. Using world wheat production as an example, changes between the June projection and the final estimate have averaged 16.2 million tons (3.0%) ranging from -32.2 to 29.6 million tons. The June projection has been below the estimate 11 times and above 8 times. Reliability of June Projections ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-99/00 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- WHEAT :Percent Million metric tons Number of years 2/ Production : World : 3.0 16.2 -32.2 29.6 11 8 U.S. : 4.7 3.0 -7.4 8.4 11 8 Foreign : 3.2 14.7 -26.2 28.2 10 9 Exports : World : 4.3 4.8 -16.6 12.3 11 7 U.S. : 8.8 3.0 -10.0 7.8 12 7 Foreign : 5.0 4.1 -11.6 6.5 13 6 Domestic use : World : 2.1 11.0 -27.5 19.6 13 6 U.S. : 6.5 2.0 -6.4 3.2 13 6 Foreign : 2.0 9.7 -24.2 18.1 13 6 Ending stocks : World : 9.9 12.4 -23.0 29.7 11 8 U.S. : 16.1 3.8 -9.6 14.9 11 8 Foreign : 10.1 9.7 -21.2 14.9 10 9 : COARSE GRAINS 3/ : Production : World : 2.9 23.3 -31.4 76.0 8 11 U.S. : 11.1 22.1 -35.9 70.3 9 10 Foreign : 2.0 11.7 -29.9 28.6 6 13 Exports : World : 6.3 6.5 -9.1 16.5 12 7 U.S. : 17.0 9.0 -22.8 15.3 8 11 Foreign : 13.2 6.6 -14.0 14.2 9 10 Domestic use : World : 1.6 12.9 -12.5 33.2 6 13 U.S. : 4.9 8.6 -16.6 33.0 12 7 Foreign : 1.5 9.5 -11.0 33.5 7 12 Ending stocks : World : 17.0 21.8 -69.9 48.0 13 6 U.S. : 37.9 19.1 -57.6 43.9 10 9 Foreign : 14.3 9.8 -20.8 11.7 13 6 : RICE, milled : Production : World : 2.5 8.2 -21.8 11.4 15 4 U.S. : 5.8 0.3 -1.1 0.5 11 8 Foreign : 2.5 8.2 -21.9 11.2 15 4 Exports : World : 9.3 1.7 -7.5 0.8 13 6 U.S. : 7.2 0.2 -0.7 0.7 9 6 Foreign : 10.3 1.6 -7.1 0.7 14 5 Domestic use : World : 1.9 6.3 -20.3 5.0 16 3 U.S. : 7.6 0.2 -0.5 0.5 10 9 Foreign : 1.9 6.3 -20.8 5.2 16 3 Ending stocks : World : 13.3 5.1 -13.5 8.2 12 7 U.S. : 21.4 0.3 -0.9 0.9 9 8 Foreign : 14.2 5.2 -13.7 8.3 13 6 ------------------------------------------------------------------------------- 1/ Footnotes at end of table. CONTINUED WASDE-363-32 Reliability of June Projections (Continued) ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-99/00 1/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- SOYBEANS :Percent Million metric tons Number of years 2/ Production : World : NA NA NA NA NA NA U.S. : 7.9 4.3 -11.3 12.0 10 9 Foreign : NA NA NA NA NA NA Exports : World : NA NA NA NA NA NA U.S. : 14.7 2.8 -6.4 6.4 10 9 Foreign : NA NA NA NA NA NA Domestic use : World : NA NA NA NA NA NA U.S. : 6.1 2.3 -7.2 4.5 13 6 Foreign : NA NA NA NA NA NA Ending stocks : World : NA NA NA NA NA NA U.S. : 36.7 2.6 -7.1 8.0 6 13 Foreign : NA NA NA NA NA NA : COTTON : Million 480-pound bales Production : World : 4.6 3.8 -13.9 11.4 11 7 U.S. : 9.1 1.3 -2.8 3.1 8 11 Foreign : 4.6 3.1 -12.4 10.5 10 9 Exports : World : 5.7 1.4 -4.2 2.7 9 10 U.S. : 20.5 0.9 -2.4 3.0 12 7 Foreign : 6.9 1.2 -3.5 1.9 9 10 Mill use : World : 2.8 2.3 -7.9 4.5 8 11 U.S. : 7.4 0.6 -1.4 1.0 12 6 Foreign : 2.8 2.1 -7.2 4.3 8 11 Ending stocks : World : 15.9 5.4 -14.3 15.2 13 6 U.S. : 36.3 1.5 -3.4 3.5 9 10 Foreign : 15.2 4.6 -13.4 12.5 13 6 ------------------------------------------------------------------------------- 1/ Final estimate for 1981/82-98/99 is defined as the first November estimate following the marketing year and for 1999/00 last month's estimate. 2/ May not total 19 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. WASDE-363-33 Reliability of United States June Projections 1/ ------------------------------------------------------------------------------- :Differences between proj. & final estimate, 1981/82-99/00 2/ Commodity and :------------------------------------------------------------- region : Avg. : Avg. : Difference : Below final : Above final ------------------------------------------------------------------------------- CORN :Percent Million bushels Number of years 3/ Production : 13.8 924 -3327 2379 9 10 Exports : 18.6 335 -850 588 8 11 Domestic use : 5.4 316 -558 1095 11 8 Ending stocks : 45.8 668 -2091 1460 11 8 : SORGHUM : Production : 14.6 103 -228 171 10 9 Exports : 17.8 43 -105 97 9 10 Domestic use : 13.0 61 -139 100 11 8 Ending stocks : 56.5 79 -189 191 6 13 : BARLEY : Production : 9.5 38 -73 206 7 12 Exports : 33.7 20 -92 53 11 7 Domestic use : 10.3 40 -72 95 11 7 Ending stocks : 15.1 28 -59 79 8 11 : OATS : Production : 17.3 48 -77 231 4 15 Exports : 91.7 2 -5 8 5 9 Domestic use : 8.6 31 -39 160 7 12 Ending stocks : 17.5 22 -59 77 5 12 : : Thousand short tons SOYBEAN MEAL : Production : 5.1 1459 -3721 4432 12 7 Exports : 17.6 1131 -2650 1964 10 9 Domestic use : 4.2 918 -1800 2259 13 6 Ending stocks : 35.8 83 -204 488 9 10 : : Million pounds SOYBEAN OIL : Production : 5.1 695 -1923 1553 12 7 Exports : 27.4 441 -1700 914 9 10 Domestic use : 3.3 412 -985 758 15 4 Ending stocks : 35.7 480 -966 1288 8 11 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 1.5 364 -348 819 13 5 Pork : 2.1 333 -579 676 13 5 Broilers : 1.0 194 -399 436 10 7 Turkeys : 1.6 64 -210 116 11 7 : : Million dozen Eggs : 0.8 51 -83 125 13 5 : : Billion pounds Milk : 0.5 0.8 -2.7 2.1 8 10 ------------------------------------------------------------------------------- 1/ See pages 31 and 32 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-98/99 is defined as the first November estimate following the marketing year and for 1999/00 last month's estimate. 3/ May not total 19 for crops and 18 for animal production if projection was the same as the final estimate. 4/ Calendar years 1983 thru 1999 for meats and eggs; October-September years 1982/83 thru 1998/99 for milk. Final for animal products is defined as latest annual production estimate published by NASS. WASDE-363-34 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 -----