WASDE-372 March 8, 2001 WHEAT: U.S. 2000/01 ending stocks are down 5 million bushels from last month because of higher food use. Larger projected food use is based on recent mill grind estimates released by the Bureau of the Census. Adjustments also are made for food use, exports, and endings stocks by class of wheat. The projected price range is unchanged at $2.60 to $2.70 per bushel. Global 2000/01 supply and use projections are little changed in aggregate from last month. Production is up slightly, largely because of a bigger Australian crop. The larger Australian crop will lead to increased exports, but not until after the end of the U.S. 2000/01 marketing year. A reduction in projected imports by Russia is offset by an equal reduction in Kazakstan's exports. COARSE GRAINS: U.S. 2000/01 ending stocks of corn are up 50 million bushels from last month because of lower exports. Projected U.S. corn exports are reduced because some importers, especially Japan, are expected to minimize purchases of varieties of corn not approved for some, or all, uses. The projected price range for corn is unchanged from last month at $1.70 to $1.90 per bushel. Global 2000/01 coarse grain production is down around 3.5 million tons from last month, led by reductions for India (corn and millet), Mexico (corn and sorghum), and South Africa (corn). The smaller South Africa crop will result in lower exports during the 2000/01 (May 2001-April 2002) marketing year. However, the impact will be small during the U.S. marketing year and will be offset by an increase for Brazil. Projected exports for Argentina are up from last month. RICE: No changes are made to U.S. 2000/01 supply and use. The season-average price range for 2000/01 is narrowed $0.10 per cwt on each end to $5.60 to $5.80 per cwt. Projected global production and consumption for 2000/01 are increased from a month ago while imports and exports are lowered. World rice production is raised primarily because of increases in the crop projections for Bangladesh, Philippines, and Australia, which are partially offset by reductions for India and Italy. Projected imports and exports are changed for a number of countries; most notably imports are lowered 550,000 tons for Bangladesh and exports are reduced 150,000 for India. Ending stocks for 2000/01 are nearly unchanged at 60.7 million tons, but are down 4.4 million tons from 1999/2000. OILSEEDS: U.S. soybean exports for 2000/01 are forecast at 975 million bushels, up 15 million bushels from last month based mainly on prospective higher imports for China. U.S. soybean crush is unchanged for the crop year, but reduced 5 million bushels for the October- September crush year. A reduction of 250,000 short tons in soybean meal exports is partially offset by a 150,000-ton-increase in domestic meal use, suggested by strong year-to-date disappearance. An increase of 700,000 tons in China's prospective soybean imports to 9.3 million tons this month reduces the impact of larger foreign supplies on U.S. soybean exports. However, China's imports of soybean meal and oil are cut, hurting U.S. product export prospects. U.S. soybean ending stocks are reduced 15 million bushels from last month to 330 million bushels, still 40 million bushels above last year. Soybean oil ending stocks are forecast at 2,230 million pounds, down slightly from last month because of lower oil production. An increase in soybean oil exports is offset by a reduction in domestic use. U.S. season-average soybean prices for 2000/01 are projected at $4.45 to $4.65 per bushel, a 10-cent reduction in the midpoint of the range. Projected soybean oil prices are unchanged this month at 12.75- 14.25 cents per pound. Soybean meal prices are projected at $170 to $180 per ton, a $5.00 reduction on the top of the range. Global oilseed production for 2000/01 is projected at a record 306.1 million metric tons, up 0.9 million tons from last month, and up 3.7 million tons from last year's revised estimate. U.S. oilseed production for 2000/01 is projected at a record 85.3 million tons, unchanged from last month, but up 2.9 million tons from last year. Foreign oilseed production is up 0.9 million tons this month to a record 220.8 million tons, led by a 1-million-ton increase in Argentina's soybean crop to a record 25.0 million tons. Good late-season rains have been very beneficial to yield prospects for both first and second crop soybeans. Other soybean production changes include a 0.3-million-ton increase for China to 15.7 million tons, offset in part by a 0.2-million-ton reduction in India's soybean crop to 5.3 million tons. Rapeseed production is also cut 0.2 million tons for India based on reduced yield indications. Soybean production for Brazil for 1999/2000 is increased 0.8 million tons to 34.0 million tons based on higher than expected use for the October-January period. World production and consumption of protein meals and vegetable oils are all revised higher this month, led by gains in soybean meal, soybean oil, and palm oil. Global oilmeal consumption is forecast at 174 million tons, up 0.4 million tons from last month and 3.6 million tons from last year, led by a 5-percent year-to- year rise in China. Global vegetable oil consumption is forecast at 86.6 million tons, up 0.5 million tons from last month, and up 3.3 million tons or 4 percent from last year, led by increases in palm oil and soybean oil. Large production increases and low prices are encouraging strong expansion in global palm oil and soybean oil consumption. Global palm oil production is forecast at a record 23.2 million tons, up 0.5 million from last month and up 1.8 million tons, or almost 9 percent above last year's levels. SUGAR: Projected fiscal-year 2000/01 U.S. sugar supply is lowered 15,000 short tons, raw value, based on reports of reduced production prospects in Puerto Rico, an increase in Texas, and lower imports of high-tier tariff sugar. The season-ending stocks-to-use ratio is 19.2 percent, compared with 19.4 percent last month. LIVESTOCK, POULTRY, AND DAIRY: Projected U.S. total meat production in 2001 is lowered from last month. Beef production is lowered as cold, wet weather has led to lower projected slaughter weights during the first half of 2001. The recent Cattle on Feed report indicated that more cattle than expected are being placed on feed because of harsh winter weather conditions and poor forage. Forecast beef production is increased for the second and third quarters as these large placements are marketed, but not enough to offset a sharp decline in the first quarter. Pork production is bumped up to a record 19.3 billion pounds as the most recent monthly Hogs and Pigs report indicated stronger sow productivity than expected, resulting in more pigs to be marketed during the second half. Broiler production is reduced slightly as eggs set and poultry slaughter data point to slower production growth. Red meat exports are raised this month on stronger demand in Mexico and Asia. Based on current information, the BSE and foot-and-mouth-disease crises in the EU are not expected to have major impacts on U.S. meat exports. Projected prices for cattle and hogs are raised due to weather disruptions in hog marketings and beef slaughter. The slow pace of marketings is expected to boost first-quarter prices in the face of continued strong demand. Broiler prices are raised slightly due to lower production and stronger prices for competing meats. Turkey prices are unchanged. Milk production for 2000/01 is reduced this month because of lower milk output per cow early in 2001. Although productivity gains are expected to resume later in the year, milk production is just under the 1999/2000 level. Milk cow numbers began to decline in the second half of 2000 and are expected to continue their downward trend through the 2000/01 year. CCC net removals of nonfat dry powder are projected lower as milk production declines. Lower milk production is expected to boost milk prices. The Class III price is projected to average $10.10- $10.50 per cwt. Class IV prices are raised to 12.30- 12.90 per cwt. The all milk price is forecast at $12.80-$13.20 per cwt. COTTON: This month's revisions to the U.S. 2000/01 projections include lower domestic mill use and exports, and higher ending stocks. Domestic mill use is reduced 200,000 bales from last month to 9.5 million; this projection incorporates recent months' weak activity and assumes a limited recovery during the remainder of the season. Projected exports are reduced 100,000 bales. Despite a rebound in export sales during the past month, year-to-date export sales and shipments both indicate a slightly lower season total. With these adjustments, ending stocks are raised to 4.8 million bales, the highest level in 12 years, and 29 percent of total use. The world 2000/01 estimates include slightly higher production and lower consumption, resulting in modestly higher ending stocks. Production is raised mainly in Australia, and consumption reduced mainly in the United States and Turkey. The world trade estimate is reduced marginally, as higher exports by Australia and others are more than offset by reductions for the United States and China. World ending stocks are raised 1 percent. 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 April 10, 2001. The World Agricultural Supply and Demand Estimates report will be released on the following dates in 2001: Jan. 11, Feb. 8, Mar. 8, Apr. 10, May 10, June 12, July 11, Aug. 10, Sept. 12, Oct. 12, Nov. 9, and Dec. 11. ELECTRONIC ACCESS AND SUBSCRIPTIONS Download this report in ascii text or pdf (Adobe Acrobat) format at ww.usda.gov/oce/waob/wasde/wasde.htm. Acrobat files can be viewed or printed in their original form, page by page. This report and other USDA releases are posted electronically by release date at www.usda.gov/news/calindex.htm. To view a report, click the month of release, then the report title. For instructions on retrieving the WASDE report by fax, call (202) 694-5700 from the handset of a fax machine and follow voice prompts to retrieve document 66900. For information on e-mail subscriptions or other questions about the WASDE report, call (202) 720-5447. Mail subscriptions cost $50.00; 2- and 3-year subscriptions are available. Call 1-800-999-6779 or 703-605-6220, 8:30 a.m.-5:00 p.m. ET, or write ERS-NASS, 5285 Port Royal Road, Springfield, Virginia 22161. This report is also available from the Government Printing Office. Call 202-783-3238 or write Superintendent of Documents, GPO, Washington, D.C. 20402. For GPO subscription inquires, call 202-512-1806. WASDE-372-6 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 : 1,873.01 2,214.90 256.09 1,847.94 366.96 1999/00 (Est.) : 1,872.22 2,239.18 280.44 1,883.40 355.79 2000/01 (Proj.) : February : 1,836.99 2,194.14 266.32 1,882.26 311.89 March : 1,835.91 2,191.70 264.63 1,879.20 312.49 Wheat : 1998/99 : 588.80 727.52 122.58 590.35 137.17 1999/00 (Est.) : 587.75 724.92 135.16 599.15 125.77 2000/01 (Proj.) : February : 579.48 705.47 126.93 596.58 108.89 March : 580.38 706.15 126.93 597.22 108.94 Coarse grains 4/ : 1998/99 : 890.07 1,037.17 106.79 867.65 169.51 1999/00 (Est.) : 876.72 1,046.23 121.08 881.25 164.99 2000/01 (Proj.) : February : 859.73 1,024.98 115.16 882.71 142.27 March : 856.27 1,021.26 113.94 878.35 142.91 Rice, milled : 1998/99 : 394.14 450.21 26.72 389.94 60.27 1999/00 (Est.) : 407.76 468.03 24.20 403.00 65.03 2000/01 (Proj.) : February : 397.78 463.69 24.24 402.96 60.73 March : 399.25 464.28 23.77 403.63 60.65 : : United States Total grains 3/ : 1998/99 : 346.60 411.50 87.04 246.64 77.81 1999/00 (Est.) : 332.24 415.71 88.85 251.29 75.57 2000/01 (Proj.) : February : 340.99 422.09 90.87 254.88 76.34 March : 340.99 422.18 89.60 255.03 77.54 Wheat : 1998/99 : 69.33 91.79 28.36 37.69 25.74 1999/00 (Est.) : 62.57 90.89 29.65 35.38 25.85 2000/01 (Proj.) : February : 60.51 88.95 29.94 36.17 22.84 March : 60.51 88.95 29.94 36.31 22.70 Coarse grains 4/ : 1998/99 : 271.47 312.69 55.95 205.37 51.37 1999/00 (Est.) : 263.17 317.31 56.40 212.06 48.86 2000/01 (Proj.) : February : 274.45 325.94 58.38 214.83 52.72 March : 274.45 326.02 57.11 214.84 54.07 Rice, milled : 1998/99 : 5.80 7.01 2.73 3.59 0.69 1999/00 (Est.) : 6.50 7.52 2.80 3.85 0.87 2000/01 (Proj.) : February : 6.03 7.21 2.55 3.88 0.78 March : 6.03 7.21 2.55 3.88 0.78 =============================================================================== 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-372-7 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 : 1,526.41 1,803.41 169.05 1,601.30 289.15 1999/00 (Est.) : 1,539.98 1,823.47 191.59 1,632.11 280.21 2000/01 (Proj.) : February : 1,495.99 1,772.05 175.45 1,627.38 235.55 March : 1,494.92 1,769.52 175.03 1,624.17 234.95 Wheat : 1998/99 : 519.47 635.73 94.21 552.66 111.43 1999/00 (Est.) : 525.18 634.03 105.51 563.76 99.92 2000/01 (Proj.) : February : 518.96 616.53 96.99 560.42 86.05 March : 519.87 617.21 96.99 560.91 86.23 Coarse grains 5/ : 1998/99 : 618.60 724.47 50.84 662.28 118.14 1999/00 (Est.) : 613.55 728.92 64.68 669.19 116.13 2000/01 (Proj.) : February : 585.28 699.05 56.77 667.89 89.54 March : 581.82 695.24 56.82 663.51 88.84 Rice, milled : 1998/99 : 388.34 443.20 23.99 386.36 59.58 1999/00 (Est.) : 401.26 460.52 21.40 399.16 64.16 2000/01 (Proj.) : February : 391.75 456.48 21.68 399.07 59.96 March : 393.23 457.07 21.22 399.75 59.88 =============================================================================== 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 : 84.88 128.52 23.77 85.32 44.81 1999/00 (Est.) : 87.21 132.02 27.23 91.87 41.00 2000/01 (Proj.) : February : 88.06 129.03 26.49 92.10 37.27 March : 88.16 129.16 26.40 91.84 37.67 : United States 1998/99 : 13.92 18.25 4.34 10.40 3.94 1999/00 (Est.) : 16.97 21.00 6.75 10.24 3.92 2000/01 (Proj.) : February : 17.22 21.17 7.00 9.70 4.50 March : 17.22 21.17 6.90 9.50 4.80 : Foreign 3/ 1998/99 : 70.96 110.28 19.42 74.91 40.88 1999/00 (Est.) : 70.24 111.02 20.48 81.63 37.08 2000/01 (Proj.) : February : 70.84 107.86 19.49 82.40 32.77 March : 70.94 107.99 19.50 82.34 32.87 =============================================================================== 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-372-8 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 : 294.62 323.16 54.67 240.60 31.87 1999/00 (Est.) : 302.34 334.21 64.04 247.84 33.63 2000/01 (Proj.) : February : 305.15 337.54 63.96 251.74 30.30 March : 306.06 339.68 64.58 251.83 32.32 Oilmeals : 1998/99 : 164.52 170.09 53.84 163.60 6.35 1999/00 (Est.) : 169.40 175.75 55.02 170.38 6.05 2000/01 (Proj.) : February : 173.77 179.89 55.63 173.58 5.58 March : 173.77 179.82 55.60 174.00 5.64 Vegetable Oils : 1998/99 : 80.50 87.16 31.56 78.64 7.41 1999/00 (Est.) : 84.99 92.40 33.05 83.29 7.99 2000/01 (Proj.) : February : 86.92 94.84 32.99 86.11 8.05 March : 87.27 95.26 33.81 86.58 8.02 : : United States Oilseeds : 1998/99 : 84.36 91.49 22.72 47.81 10.78 1999/00 (Est.) : 82.31 93.85 27.34 47.94 8.98 2000/01 (Proj.) : February : 85.25 94.89 26.94 47.82 10.30 March : 85.25 94.90 27.34 47.82 9.88 Oilmeals : 1998/99 : 36.80 38.33 6.71 31.29 0.33 1999/00 (Est.) : 36.82 38.40 6.86 31.24 0.30 2000/01 (Proj.) : February : 37.12 38.68 6.58 31.81 0.28 March : 37.04 38.60 6.36 31.96 0.28 Vegetable Oils : 1998/99 : 9.43 11.85 1.64 9.22 1.00 1999/00 (Est.) : 9.37 11.90 1.13 9.55 1.22 2000/01 (Proj.) : February : 9.32 12.28 1.02 9.87 1.38 March : 9.28 12.25 1.07 9.82 1.35 : : Foreign 3/ Oilseeds : 1998/99 : 210.26 231.66 31.94 192.79 21.09 1999/00 (Est.) : 220.03 240.36 36.71 199.90 24.64 2000/01 (Proj.) : February : 219.90 242.65 37.02 203.92 20.00 March : 220.80 244.79 37.23 204.01 22.44 Oilmeals : 1998/99 : 127.73 131.76 47.13 132.32 6.02 1999/00 (Est.) : 132.58 137.35 48.16 139.13 5.75 2000/01 (Proj.) : February : 136.65 141.21 49.05 141.77 5.30 March : 136.74 141.22 49.25 142.04 5.36 Vegetable Oils : 1998/99 : 71.07 75.31 29.93 69.43 6.41 1999/00 (Est.) : 75.62 80.50 31.92 73.74 6.77 2000/01 (Proj.) : February : 77.61 82.56 31.97 76.24 6.67 March : 77.99 83.02 32.74 76.76 6.67 =============================================================================== 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-372-9 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :============================== : : Est. : February March =============================================================================== Area : Million acres Planted : 65.8 62.7 62.5 62.5 Harvested : 59.0 53.8 53.0 53.0 Yield per harvested : Bushels acre : 43.2 42.7 41.9 41.9 : Million bushels Beginning stocks : 722 946 950 950 Production : 2,547 2,299 2,223 2,223 Imports : 103 95 95 95 Supply, total : 3,373 3,339 3,268 3,268 Food : 910 925 945 950 Seed : 81 92 84 84 Feed and residual : 394 284 300 300 Domestic, total : 1,385 1,300 1,329 1,334 Exports : 1,042 1,090 1,100 1,100 Use, total : 2,427 2,390 2,429 2,434 Ending stocks : 946 950 839 834 CCC inventory : 128 104 105 105 Free stocks : 818 846 734 729 Avg. farm price ($/bu) 2/ : 2.65 2.48 2.60- 2.70 2.60- 2.70 =============================================================================== 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 : 1,051 448 454 247 99 2,299 Supply, total 3/ : 1,486 741 590 340 182 3,339 Domestic use : 542 293 287 89 89 1,300 Exports : 486 230 170 160 44 1,090 Use, total : 1,028 523 457 249 133 2,390 Ending stocks, total : 458 218 133 91 50 950 : 2000/01 (projected) : Beginning stocks : 458 218 133 91 50 950 Production : 844 498 471 301 110 2,223 Supply, total 3/ : 1,303 776 604 398 188 3,268 Domestic use : 507 322 287 116 101 1,334 Exports : 420 235 180 215 50 1,100 Use, total : 927 557 467 331 151 2,434 Ending stocks, total : March : 375 219 137 67 36 834 February : 370 219 132 82 36 839 =============================================================================== 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-372-10 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :============================== : : Est. : February March =============================================================================== FEED GRAINS : Area : Million acres Planted : 101.0 96.5 99.1 99.1 Harvested : 88.9 86.2 88.0 88.0 Yield per harvested : Metric tons acre : 3.05 3.05 3.12 3.12 : Million metric tons Beginning stocks : 38.1 51.3 48.8 48.8 Production : 271.2 262.9 274.2 274.2 Imports : 3.0 2.7 2.5 2.6 Supply, total : 312.3 316.9 325.6 325.7 Feed and residual : 152.3 156.9 158.2 158.2 Food, seed & industrial : 52.7 54.7 56.3 56.3 Domestic, total : 205.0 211.7 214.5 214.5 Exports : 55.9 56.4 58.4 57.1 Use, total : 261.0 268.1 272.9 271.6 Ending stocks, total : 51.3 48.8 52.7 54.0 CCC inventory : 0.3 0.4 0.4 0.4 Free stocks : 51.0 48.5 52.3 53.6 Outstanding loans : 10.3 10.2 10.4 10.4 : CORN : Area : Million acres Planted : 80.2 77.4 79.5 79.5 Harvested : 72.6 70.5 72.7 72.7 Yield per harvested : Bushels acre : 134.4 133.8 137.1 137.1 : Million bushels Beginning stocks : 1,308 1,787 1,718 1,718 Production : 9,759 9,431 9,968 9,968 Imports : 19 15 10 10 Supply, total : 11,085 11,232 11,696 11,696 Feed and residual : 5,471 5,664 5,775 5,775 Food, seed & industrial : 1,846 1,913 1,980 1,980 Domestic, total : 7,318 7,578 7,755 7,755 Exports : 1,981 1,937 2,050 2,000 Use, total : 9,298 9,515 9,805 9,755 Ending stocks, total : 1,787 1,718 1,891 1,941 CCC inventory : 12 14 15 15 Free stocks : 1,775 1,704 1,876 1,926 Outstanding loans : 391 392 400 400 Avg. farm price ($/bu) 2/ : 1.94 1.82 1.70- 1.90 1.70- 1.90 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. WASDE-372-11 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :============================== : : Est. : February March =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 9.6 9.3 9.2 9.2 Area harv. (mil. acres) : 7.7 8.5 7.7 7.7 Yield (bushels/acre) : 67.3 69.7 60.9 60.9 Beginning stocks : 49 65 65 65 Production : 520 595 470 470 Imports : 0 0 0 0 Supply, total : 569 660 535 535 Feed and residual : 262 284 240 240 Food, seed & industrial : 45 55 50 50 Total domestic : 307 339 290 290 Exports : 197 256 200 200 Use, total : 504 595 490 490 Ending stocks, total : 65 65 45 45 Avg. farm price ($/bu) 2/ : 1.66 1.57 1.65- 1.85 1.65- 1.85 : BARLEY : Area planted (mil. acres) : 6.3 5.2 5.8 5.8 Area harv. (mil. acres) : 5.9 4.7 5.2 5.2 Yield (bushels/acre) : 60.0 59.2 61.1 61.1 Beginning stocks : 119 142 111 111 Production : 352 280 318 318 Imports : 30 28 25 25 Supply, total : 501 450 454 454 Feed and residual : 161 136 120 120 Food, seed & industrial : 170 172 172 172 Total domestic : 331 308 292 292 Exports : 28 30 55 55 Use, total : 360 338 347 347 Ending stocks, total : 142 111 107 107 Avg. farm price ($/bu) 2/ : 1.98 2.13 2.05- 2.25 2.10- 2.20 : OATS : Area planted (mil. acres) : 4.9 4.7 4.5 4.5 Area harv. (mil. acres) : 2.8 2.5 2.3 2.3 Yield (bushels/acre) : 60.2 59.6 64.2 64.2 Beginning stocks : 74 81 76 76 Production : 166 146 149 149 Imports : 108 99 100 105 Supply, total : 348 326 325 330 Feed and residual : 196 180 175 175 Food, seed & industrial : 69 68 68 68 Total domestic : 265 249 243 243 Exports : 2 2 2 2 Use, total : 266 250 245 245 Ending stocks, total : 81 76 80 85 Avg. farm price ($/bu) 2/ : 1.10 1.12 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-372-12 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :============================== : : Est. : February March =============================================================================== TOTAL : Area : Million acres Planted : 3.29 3.53 3.07 3.07 Harvested : 3.26 3.51 3.04 3.04 Yield per harvested : Pounds acre : 5,663 5,866 6,278 6,278 : Million hundredweight Beginning stocks 2/ : 27.9 22.1 27.5 27.5 Production : 184.4 206.0 191.1 191.1 Imports : 10.6 10.1 10.0 10.0 Supply, total : 222.9 238.2 228.6 228.6 Domestic & residual 3/ : 114.0 121.9 123.0 123.0 Exports, total 4/ : 86.8 88.9 81.0 81.0 Rough : 25.8 25.2 26.0 26.0 Milled (rough equiv.) : 61.1 63.6 55.0 55.0 Use, total : 200.9 210.7 204.0 204.0 Ending stocks : 22.1 27.5 24.6 24.6 Avg. milling yield (%) 5/ : 69.3 69.6 69.5 69.5 Avg. farm price ($/cwt) 6/ : 8.89 5.93 5.50- 5.90 5.60- 5.80 : LONG GRAIN : Harvested acres (mil.) : 2.57 2.72 2.24 2.24 Yield (pounds/acre) : 5,426 5,587 5,883 5,883 Beginning stocks : 14.5 14.1 15.6 15.6 Production : 139.3 151.9 131.5 131.5 Supply, total 7/ : 162.2 173.5 155.9 155.9 Domestic & Residual 3/ : 76.7 87.1 80.0 80.0 Exports 8/ : 71.4 70.8 63.0 63.0 Use, total : 148.2 157.9 143.0 143.0 Ending stocks : 14.1 15.6 12.9 12.9 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.69 0.79 0.81 0.81 Yield (pounds/acre) : 6,548 6,822 7,371 7,371 Beginning stocks : 12.3 6.8 10.4 10.4 Production : 45.1 54.2 59.6 59.6 Supply, total 7/ : 59.6 63.3 71.3 71.3 Domestic & Residual 3/ : 37.4 34.8 43.0 43.0 Exports 8/ : 15.4 18.1 18.0 18.0 Use, total : 52.8 52.9 61.0 61.0 Ending stocks : 6.8 10.4 10.3 10.3 =============================================================================== 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): 1998/99-1.1; 1999/00-1.2 2000/01-1.4. 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 quantity 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. WASDE-372-13 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :=============================== : : Est. : February March =============================================================================== SOYBEANS: : Million acres Area : Planted : 72.0 73.7 74.5 74.5 Harvested : 70.4 72.4 72.7 72.7 : : Bushels Yield per harvested : acre : 38.9 36.6 38.1 38.1 : : Million bushels : Beginning stocks : 200 348 290 290 Production : 2,741 2,654 2,770 2,770 Imports : 3 4 3 3 Supply, total : 2,944 3,006 3,063 3,063 Crushings : 1,590 1,579 1,590 1,590 Exports : 805 973 960 975 Seed : 88 90 91 91 Residual : 113 74 77 77 Use, total : 2,595 2,716 2,718 2,733 Ending stocks : 348 290 345 330 Avg. farm price ($/bu) 2/ : 4.93 4.63 4.50- 4.80 4.45 - 4.65 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,382 1,520 1,995 1,995 Production : 18,081 17,824 17,920 17,860 3/ Imports : 82 83 75 75 Supply, total : 19,546 19,427 19,990 19,930 Domestic : 15,655 16,055 16,400 16,300 Exports : 2,372 1,376 1,300 1,400 Use, total : 18,027 17,432 17,700 17,700 Ending stocks : 1,520 1,995 2,290 2,230 Average price (c/lb) 2/ : 19.90 15.60 12.75- 12.75- : 14.25 14.25 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 218 330 293 293 Production : 37,792 37,623 38,132 38,032 3/ Imports : 99 49 50 50 Supply, total : 38,109 38,003 38,475 38,375 Domestic : 30,657 30,378 31,200 31,350 Exports : 7,122 7,331 7,000 6,750 Use, total : 37,779 37,710 38,200 38,100 Ending stocks : 330 293 275 275 Average price ($/s.t.) 2/ : 138.50 167.70 170.00- 170.00- : 185.00 180.00 =============================================================================== 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 of 1,585 million bushels. WASDE-372-14 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :====================== : : Estimate : February March ====================================================================== : 1,000 short tons, raw value : Beginning stocks 2/ : 1,679 1,639 2,219 2,219 Production 2/3/ : 8,374 9,042 8,538 8,540 Beet sugar : 4,423 4,976 4,370 4,370 Cane sugar 4/ : 3,951 4,065 4,168 4,170 Imports 2/ : 1,824 1,636 1,740 1,723 TRQ 5/ : 1,256 1,124 1,275 1,275 Other 6/ : 568 512 465 448 Total supply : 11,877 12,316 12,497 12,482 : Exports 2/7/ : 230 124 125 125 Domestic deliveries 2/ : 10,066 10,111 10,345 10,345 Domestic food use : 9,872 9,993 10,225 10,225 Other 8/ : 194 118 120 120 Miscellaneous 9/ : (58) (137) 0 0 Total use : 10,238 10,098 10,470 10,470 Ending stocks 2/ : 1,639 2,219 2,027 2,012 Private : 1,639 1,922 1,234 1,219 CCC 10/ : 0 297 793 793 : Stocks to use ratio : 16.0 22.0 19.4 19.2 ====================================================================== 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 Crop Production and analyses by the Interagency Commodity Estimates Committee for sugar. 4/ Production by state for 1999/2000 (projected 2000/01): FL 1,976 (2,130); HI 318 (265); LA 1,662 (1,570); TX 105 (190); PR 4 (15). 5/ Actual arrivals under the tariff rate quota (TRQ) with late entries, early entries, and TRQ overfills assigned to the fiscal year in which they actually arrived. The 2000/01 available TRQ assumes 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 and for nonedible alcohol and feed. 9/ For 1998/99 and 1999/2000, includes residual statistical discrepancies. 10/ For 2000/01, includes only sugar owned by the Commodity Credit Corporation as of March 6, 2001. Season-ending CCC stocks will be a function of market and program developments. 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-372-15 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2000/01 Projections Item : 1998/99 : 1999/00 :=============================== : : Est. : February March =============================================================================== : Million acres Area : Planted : 13.39 14.87 15.54 15.54 Harvested : 10.68 13.42 13.10 13.10 : : Pounds Yield per harvested : acre : 625 607 631 631 : : Million 480 pound bales : Beginning stocks 2/ : 3.89 3.94 3.92 3.92 Production : 13.92 16.97 17.22 17.22 Imports : 0.44 0.10 0.03 0.03 Supply, total : 18.25 21.00 21.17 21.17 Domestic use : 10.40 10.24 9.70 9.50 Exports : 4.34 6.75 7.00 6.90 Use, total : 14.75 16.99 16.70 16.40 Unaccounted 3/ : -0.44 0.09 -0.03 -0.03 Ending stocks : 3.94 3.92 4.50 4.80 : Avg. farm price 4/ : 60.2 45.0 55.1 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/ Average for August 2000-January 2001. 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 2000/01 is 29.8 percent. WASDE-372-16 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/ : 138.73 588.80 121.52 106.19 590.35 122.58 137.17 United States : 19.66 69.33 2.80 10.73 37.69 28.36 25.74 Total foreign : 119.06 519.47 118.72 95.45 552.66 94.21 111.43 Major exporters 4/ : 22.26 161.03 25.41 52.49 105.56 75.51 27.63 Argentina : 0.42 12.40 0.03 0.25 4.15 8.40 0.30 Australia : 1.35 21.47 0.06 1.83 4.53 16.47 1.87 Canada : 5.99 24.08 0.15 4.10 8.08 14.71 7.44 EU-15 : 14.50 103.09 25.17 46.31 88.81 35.93 18.02 Major importers 5/ : 50.49 179.30 36.17 18.76 212.37 5.37 48.23 Brazil : 0.55 2.19 7.30 0.20 9.26 0.01 0.78 China : 33.46 109.73 0.83 5.00 115.57 0.54 27.90 East. Europe : 7.64 33.93 2.13 11.95 31.78 4.17 7.75 N. Africa : 4.41 14.20 16.82 0.31 28.34 0.23 6.85 Pakistan : 3.21 18.69 3.13 0.40 21.28 0.00 3.75 Selected other : India : 10.08 66.35 2.20 0.35 67.55 0.00 11.08 FSU-12 6/ : 17.24 56.13 5.42 16.57 64.40 8.75 5.65 Russia : 8.00 27.00 2.49 11.15 34.84 1.65 1.00 Kazakstan : 3.00 4.70 0.02 1.10 4.62 2.30 0.80 : : 1999/00 (Estimated) : World 3/ : 137.17 587.75 131.04 102.52 599.15 135.16 125.77 United States : 25.74 62.57 2.57 7.72 35.38 29.65 25.85 Total foreign : 111.43 525.18 128.47 94.80 563.76 105.51 99.92 Major exporters 4/ : 27.63 164.25 25.34 52.46 105.61 86.95 24.65 Argentina : 0.30 15.50 0.03 0.13 4.08 11.60 0.15 Australia : 1.87 25.01 0.05 2.48 5.22 17.84 3.87 Canada : 7.44 26.85 0.18 3.90 7.92 19.17 7.38 EU-15 : 18.02 96.89 25.09 45.95 88.39 38.34 13.26 Major importers 5/ : 48.23 175.38 35.06 18.11 214.24 4.92 39.50 Brazil : 0.78 2.40 7.56 0.20 9.58 0.00 1.15 China : 27.90 113.88 1.01 5.00 117.00 0.54 25.25 East. Europe : 7.75 28.95 1.91 11.30 30.78 3.58 4.25 N. Africa : 6.85 11.71 16.62 0.31 29.36 0.17 5.65 Pakistan : 3.75 17.85 2.00 0.40 21.40 0.00 2.20 Selected other : India : 11.08 70.78 1.37 0.35 69.57 0.20 13.46 FSU-12 6/ : 5.65 65.27 9.43 17.01 65.98 9.08 5.30 Russia : 1.00 31.00 5.00 11.10 35.28 0.52 1.20 Kazakstan : 0.80 11.20 0.02 1.00 4.50 6.51 1.00 =============================================================================== 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-372-17 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/ : February : 126.00 579.48 126.14 103.11 596.58 126.93 108.89 March : 125.77 580.38 125.92 102.61 597.22 126.93 108.94 United States : February : 25.85 60.51 2.59 8.17 36.17 29.94 22.84 March : 25.85 60.51 2.59 8.17 36.31 29.94 22.70 Total foreign : February : 100.15 518.96 123.56 94.95 560.42 96.99 86.05 March : 99.92 519.87 123.33 94.45 560.91 96.99 86.23 Major exporters 4/ : February : 25.05 168.49 25.00 58.56 111.80 82.40 24.35 March : 24.65 169.25 25.00 58.36 111.68 82.90 24.32 Argentina Feb : 0.15 16.50 0.03 0.45 4.50 12.00 0.18 Mar : 0.15 16.50 0.03 0.45 4.50 12.00 0.18 Australia Feb : 4.07 20.50 0.05 2.76 5.64 15.50 3.48 Mar : 3.87 21.00 0.05 2.56 5.44 16.00 3.48 Canada Feb : 7.38 26.80 0.15 4.20 8.20 19.00 7.13 Mar : 7.38 26.80 0.15 4.20 8.20 19.00 7.13 EU-15 Feb : 13.46 104.69 24.78 51.15 93.46 35.90 13.57 Mar : 13.26 104.95 24.78 51.15 93.54 35.90 13.55 Major importers 5/ : February : 39.35 162.56 35.33 14.21 209.55 4.70 22.99 March : 39.50 162.54 35.18 13.91 209.23 4.70 23.29 Brazil Feb : 1.15 1.60 7.90 0.60 9.65 0.00 1.00 Mar : 1.15 1.60 7.90 0.60 9.60 0.00 1.05 China Feb : 25.25 102.00 1.00 2.00 114.00 0.50 13.75 Mar : 25.25 102.00 1.00 2.00 114.00 0.50 13.75 East. Europe Feb : 4.10 27.75 3.18 9.90 29.15 2.93 2.95 Mar : 4.25 27.73 3.03 9.60 28.88 2.93 3.20 N. Africa Feb : 5.65 9.62 17.20 0.31 28.96 0.17 3.34 Mar : 5.65 9.62 17.20 0.31 28.96 0.17 3.34 Pakistan Feb : 2.20 21.00 0.15 0.50 21.60 0.50 1.25 Mar : 2.20 21.00 0.15 0.50 21.60 0.50 1.25 Selected other : India Feb : 13.46 75.57 0.05 0.50 71.50 1.00 16.58 Mar : 13.46 75.75 0.05 0.50 71.68 1.00 16.58 FSU-12 6/ Feb : 5.20 62.74 6.74 14.56 62.75 5.40 6.53 Mar : 5.30 62.89 6.14 14.56 62.76 4.90 6.67 Russia Feb : 1.20 34.40 2.50 10.40 34.60 0.50 3.00 Mar : 1.20 34.40 2.00 10.40 34.60 0.50 2.50 Kazakstan Feb : 1.00 9.10 0.02 1.10 4.60 4.50 1.02 Mar : 1.00 9.10 0.02 1.10 4.62 4.00 1.50 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada and the EU-15 (includes intra-trade). 5/ Algeria, Brazil, China, Eastern Europe, Egypt, Japan, Libya, Morocco, Pakistan, and Tunisia. 6/ Includes imports and exports among the nations of the former USSR. Former USSR excluding the Baltic States. WASDE-372-18 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/ : 147.09 890.07 107.66 571.05 867.65 106.79 169.51 United States : 38.15 271.47 3.07 152.38 205.37 55.95 51.37 Total foreign : 108.94 618.60 104.60 418.67 662.28 50.84 118.14 Major exporters 4/ : 8.66 62.53 1.52 36.30 47.46 16.96 8.29 Argentina : 2.44 17.75 0.01 8.05 10.03 8.58 1.59 Australia : 1.14 10.07 0.02 3.98 5.44 4.98 0.81 Canada : 4.27 26.57 0.83 20.12 23.58 3.21 4.88 Major importers 5/ : 40.70 199.77 65.41 173.02 237.63 26.59 41.66 EU-15 : 21.99 105.55 17.34 73.16 97.33 23.23 24.31 East. Europe : 9.43 50.98 1.64 39.75 51.44 3.09 7.52 Japan : 2.64 0.15 20.92 16.55 21.27 0.00 2.44 Mexico : 2.85 24.70 9.10 17.47 33.50 0.02 3.13 Southeast Asia : 0.95 15.94 3.12 13.33 18.16 0.25 1.60 South Korea : 0.50 0.49 7.83 6.10 8.33 0.00 0.48 Selected other : China : 37.09 144.19 2.62 90.40 127.90 3.36 52.63 FSU-12 6/ : 12.32 37.95 1.51 26.44 45.03 2.30 4.45 Russia : 7.42 18.95 1.19 13.62 25.64 0.14 1.78 Ukraine : 3.31 10.34 0.04 6.16 10.57 1.62 1.50 : : 1999/00 (Estimated) : World 3/ : 169.51 876.72 114.47 581.73 881.25 121.08 164.99 United States : 51.37 263.17 2.77 157.09 212.06 56.40 48.86 Total foreign : 118.14 613.55 111.70 424.64 669.19 64.68 116.13 Major exporters 4/ : 8.29 68.22 1.01 35.75 46.64 21.32 9.58 Argentina : 1.59 21.66 0.03 7.45 9.46 12.53 1.28 Australia : 0.81 8.72 0.02 3.68 4.90 3.92 0.73 Canada : 4.88 26.77 0.73 20.09 23.66 3.47 5.24 Major importers 5/ : 41.66 201.24 68.03 176.69 240.64 30.18 40.10 EU-15 : 24.31 103.10 15.96 71.70 95.40 26.73 21.24 East. Europe : 7.52 54.78 1.79 40.36 52.32 3.31 8.46 Japan : 2.44 0.21 20.42 16.31 20.84 0.00 2.22 Mexico : 3.13 25.95 9.93 19.49 35.41 0.02 3.58 Southeast Asia : 1.60 14.81 4.50 14.34 19.19 0.13 1.59 South Korea : 0.48 0.49 9.28 7.13 9.39 0.00 0.86 Selected other : China : 52.63 137.79 2.40 92.00 129.42 9.95 53.46 FSU-12 6/ : 4.45 40.41 2.43 26.64 41.89 1.99 3.41 Russia : 1.78 21.80 1.91 14.62 24.66 0.14 0.68 Ukraine : 1.50 10.03 0.11 6.17 9.36 1.00 1.27 =============================================================================== 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-372-19 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/ : February : 165.25 859.73 112.48 584.22 882.71 115.16 142.27 March : 164.99 856.27 112.27 582.05 878.35 113.94 142.91 United States : February : 48.86 274.45 2.62 158.29 214.83 58.38 52.72 March : 48.86 274.45 2.71 158.30 214.84 57.11 54.07 Total foreign : February : 116.39 585.28 109.86 425.93 667.89 56.77 89.54 March : 116.13 581.82 109.56 423.74 663.51 56.82 88.84 Major exporters 4/ : February : 9.58 61.24 1.87 36.04 47.40 18.27 7.02 March : 9.58 60.19 1.87 34.39 45.75 18.67 7.22 Argentina Feb : 1.28 19.12 0.03 7.71 9.90 9.40 1.13 Mar : 1.28 19.12 0.03 6.51 8.70 10.60 1.13 Australia Feb : 0.73 9.41 0.02 3.88 5.06 4.39 0.70 Mar : 0.73 8.86 0.02 3.43 4.61 4.29 0.70 Canada Feb : 5.24 24.35 1.65 20.07 23.63 3.68 3.92 Mar : 5.24 24.35 1.65 20.07 23.63 3.48 4.12 Major importers 5/ : February : 39.85 187.67 66.55 169.82 234.03 28.23 31.81 March : 40.10 186.95 66.65 170.07 234.27 27.83 31.60 EU-15 Feb : 20.99 108.49 15.74 74.58 98.59 27.37 19.27 Mar : 21.24 108.26 15.74 74.68 98.72 26.97 19.55 East. Europe Feb : 8.46 35.96 2.17 30.76 42.90 0.70 2.98 Mar : 8.46 35.96 2.17 30.76 42.90 0.70 2.98 Japan Feb : 2.22 0.16 20.19 16.07 20.48 0.00 2.09 Mar : 2.22 0.16 20.09 16.07 20.48 0.00 1.99 Mexico Feb : 3.58 25.50 9.53 19.44 35.23 0.02 3.37 Mar : 3.58 24.80 9.73 19.44 35.23 0.02 2.87 Southeast Asia Feb : 1.59 15.16 4.40 14.82 19.60 0.15 1.40 Mar : 1.59 15.37 4.40 14.97 19.71 0.15 1.51 South Korea Feb : 0.86 0.49 8.35 6.75 9.06 0.00 0.64 Mar : 0.86 0.49 8.35 6.75 9.06 0.00 0.64 Selected other : China Feb : 53.70 114.10 2.65 94.87 131.80 6.03 32.61 Mar : 53.46 113.86 2.65 94.53 131.46 6.03 32.47 FSU-12 6/ Feb : 3.35 49.70 0.92 29.18 45.36 2.51 6.09 Mar : 3.41 49.69 0.92 29.13 45.34 2.51 6.17 Russia Feb : 0.68 28.00 0.63 16.05 26.53 0.60 2.18 Mar : 0.68 28.00 0.63 16.05 26.53 0.60 2.18 Ukraine Feb : 1.21 13.00 0.08 7.18 10.47 1.40 2.42 Mar : 1.27 13.00 0.08 7.18 10.47 1.40 2.48 =============================================================================== 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-372-20 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/ : 97.32 605.31 75.55 402.47 580.70 75.06 121.93 United States : 33.22 247.88 0.48 138.98 185.88 50.31 45.39 Total foreign : 64.10 357.43 75.08 263.49 394.82 24.75 76.54 Major exporters 4/ : 2.36 21.22 0.57 8.70 14.33 8.09 1.73 Argentina : 1.54 13.50 0.00 4.85 6.45 7.88 0.71 South Africa : 0.82 7.72 0.57 3.85 7.88 0.20 1.02 Major importers 5/ : 17.17 94.30 50.21 94.30 134.32 11.68 15.69 EU-15 : 4.47 35.30 11.77 30.12 38.95 8.93 3.66 Japan : 1.45 0.00 16.34 12.10 16.44 0.00 1.36 Mexico : 1.50 17.79 5.62 7.51 23.04 0.02 1.85 Southeast Asia : 0.95 15.74 3.12 13.14 17.95 0.25 1.60 South Korea : 0.50 0.08 7.52 5.92 7.62 0.00 0.48 Selected other : China : 35.98 132.95 0.26 87.00 114.30 3.34 51.56 FSU-12 6/ : 2.73 5.35 0.62 4.31 6.91 0.43 1.35 Russia : 0.55 0.80 0.52 1.05 1.71 0.01 0.15 : : 1999/00 (Estimated) : World 3/ : 121.93 606.15 79.60 419.20 603.31 85.53 124.78 United States : 45.39 239.55 0.37 143.88 192.48 49.21 43.63 Total foreign : 76.54 366.60 79.23 275.32 410.83 36.32 81.15 Major exporters 4/ : 1.73 27.78 0.12 8.30 13.80 13.10 2.74 Argentina : 0.71 17.20 0.02 4.20 5.82 11.70 0.41 South Africa : 1.02 10.58 0.10 4.10 7.98 1.40 2.33 Major importers 5/ : 15.69 102.06 51.25 99.75 138.79 11.91 18.31 EU-15 : 3.66 37.29 10.87 30.57 38.80 8.91 4.11 Japan : 1.36 0.00 16.12 12.15 16.32 0.00 1.16 Mexico : 1.85 19.00 4.91 8.05 23.41 0.02 2.34 Southeast Asia : 1.60 14.61 4.50 14.15 18.99 0.13 1.59 South Korea : 0.48 0.08 8.69 6.65 8.40 0.00 0.86 Selected other : China : 51.56 128.09 0.10 90.00 116.90 9.94 52.91 FSU-12 6/ : 1.35 4.98 0.88 4.55 6.21 0.11 0.89 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-372-21 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/ : February : 124.75 585.56 78.91 422.97 604.91 79.28 105.40 March : 124.78 583.05 79.11 422.02 602.01 78.76 105.82 United States : February : 43.63 253.21 0.25 146.69 196.99 52.07 48.03 March : 43.63 253.21 0.25 146.69 196.99 50.80 49.30 Total foreign : February : 81.12 332.35 78.66 276.27 407.93 27.21 57.36 March : 81.15 329.85 78.86 275.32 405.02 27.96 56.52 Major exporters 4/ : February : 2.74 23.00 0.07 8.50 14.50 9.60 1.70 March : 2.74 22.50 0.07 7.30 13.30 10.30 1.70 Argentina Feb : 0.41 15.00 0.02 4.40 6.20 8.80 0.43 Mar : 0.41 15.00 0.02 3.20 5.00 10.00 0.43 South Africa Feb : 2.33 8.00 0.05 4.10 8.30 0.80 1.28 Mar : 2.33 7.50 0.05 4.10 8.30 0.30 1.28 Major importers 5/ : February : 17.98 89.34 50.92 95.62 135.33 9.63 13.27 March : 18.31 88.79 51.12 95.88 135.57 9.63 13.02 EU-15 Feb : 3.78 38.89 10.61 31.06 39.82 8.92 4.54 Mar : 4.11 38.63 10.61 31.06 39.85 8.92 4.58 Japan Feb : 1.16 0.00 16.00 12.00 16.05 0.00 1.11 Mar : 1.16 0.00 16.00 12.00 16.05 0.00 1.11 Mexico Feb : 2.34 18.50 5.80 9.10 24.30 0.02 2.32 Mar : 2.34 18.00 6.00 9.20 24.40 0.02 1.92 Southeast Asia Feb : 1.59 14.96 4.40 14.63 19.40 0.15 1.40 Mar : 1.59 15.17 4.40 14.78 19.51 0.15 1.51 South Korea Feb : 0.86 0.09 8.00 6.50 8.30 0.00 0.64 Mar : 0.86 0.09 8.00 6.50 8.30 0.00 0.64 Selected other : China Feb : 52.91 105.00 0.15 93.00 120.00 6.00 32.06 Mar : 52.91 105.00 0.15 93.00 120.00 6.00 32.06 FSU-12 6/ Feb : 0.86 7.14 0.38 4.35 5.97 0.65 1.75 Mar : 0.89 7.18 0.38 4.35 6.00 0.65 1.80 Russia Feb : 0.10 1.50 0.30 1.10 1.80 0.00 0.10 Mar : 0.10 1.50 0.30 1.10 1.80 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-372-22 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/ : 56.08 394.14 26.20 389.94 26.72 60.27 United States : 0.88 5.80 0.34 3.59 2.73 0.69 Total foreign : 55.20 388.34 25.86 386.36 23.99 59.58 Major exporters 4/ : 11.67 126.37 0.07 108.27 16.42 13.42 Thailand : 1.05 15.59 0.00 8.90 6.68 1.06 Vietnam : 0.00 20.11 0.06 15.61 4.56 0.00 Major importers 5/ : 8.02 52.46 12.84 61.98 1.43 9.91 Indonesia : 3.60 31.85 3.73 35.30 0.00 3.88 Selected other : China : 27.00 139.10 0.18 136.07 2.71 27.50 Japan : 3.09 8.15 0.55 9.10 0.21 2.49 : : 1999/00 (Estimated) World 3/ : 60.27 407.76 21.28 403.00 24.20 65.03 United States : 0.69 6.50 0.32 3.85 2.80 0.87 Total foreign : 59.58 401.26 20.96 399.16 21.40 64.16 Major exporters 4/ : 13.42 131.88 0.04 112.07 13.42 19.85 Thailand : 1.06 16.50 0.00 9.60 6.55 1.41 Vietnam : 0.00 20.75 0.04 17.42 3.37 0.00 Major importers 5/ : 9.91 54.86 9.59 63.58 1.44 9.33 Indonesia : 3.88 33.45 1.50 35.90 0.00 2.93 Selected other : China : 27.50 138.94 0.28 137.27 2.95 26.50 Japan : 2.49 8.35 0.62 9.45 0.20 1.81 : : 2000/01 (Projected) World 3/ : February : 65.91 397.78 23.42 402.96 24.24 60.73 March : 65.03 399.25 22.28 403.63 23.77 60.65 United States : February : 0.87 6.03 0.32 3.88 2.55 0.78 March : 0.87 6.03 0.32 3.88 2.55 0.78 Total foreign : February : 65.04 391.75 23.10 399.07 21.68 59.96 March : 64.16 393.23 21.96 399.75 21.22 59.88 Major exporters 4/ : February : 20.11 130.50 0.09 113.98 13.20 23.52 March : 19.85 129.00 0.04 113.48 13.05 22.36 Thailand Feb : 1.41 16.60 0.00 9.99 6.30 1.72 Mar : 1.41 16.60 0.00 9.99 6.30 1.72 Vietnam Feb : 0.00 21.10 0.04 17.34 3.80 0.00 Mar : 0.00 21.10 0.04 17.34 3.80 0.00 Major importers 5/ : February : 8.59 54.27 10.20 64.45 1.29 7.32 March : 9.33 54.37 10.19 64.43 1.45 8.01 Indonesia Feb : 2.93 33.50 1.30 36.20 0.00 1.52 Mar : 2.93 33.50 1.30 36.20 0.00 1.52 Selected other : China Feb : 26.56 133.00 0.30 136.75 3.20 19.91 Mar : 26.50 133.00 0.30 136.60 3.20 20.00 Japan Feb : 1.96 8.64 0.75 9.30 0.60 1.45 Mar : 1.81 8.64 0.75 9.30 0.60 1.30 =============================================================================== 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-372-23 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 1998/99 World 2/ : 25.09 159.75 40.50 135.81 159.94 38.67 26.72 United States : 5.44 74.60 0.08 43.26 48.74 21.90 9.48 Total foreign : 19.65 85.15 40.42 92.55 111.21 16.77 17.24 Major exporters 3/ : 14.04 54.30 1.10 39.17 41.94 14.46 13.03 Argentina : 7.23 20.00 0.50 17.51 18.27 3.23 6.22 Brazil : 6.80 31.30 0.60 21.01 22.97 8.93 6.80 Major importers 4/ : 4.97 18.63 31.92 38.16 51.02 0.89 3.61 EU-15 : 1.00 1.54 16.77 16.23 17.76 0.70 0.85 Japan : 0.63 0.16 4.81 3.70 4.98 0.00 0.62 China : 3.02 15.15 3.85 12.61 19.93 0.19 1.90 : : 1999/00 (Estimated) World 2/ : 26.72 159.44 47.49 136.98 160.51 46.29 26.84 United States : 9.48 72.22 0.11 42.97 47.43 26.49 7.90 Total foreign : 17.24 87.21 47.38 94.01 113.08 19.80 18.95 Major exporters 3/ : 13.03 58.10 1.40 39.15 41.97 17.49 13.07 Argentina : 6.22 21.20 0.40 17.30 18.08 4.13 5.61 Brazil : 6.80 34.00 1.00 21.20 23.19 11.16 7.45 Major importers 4/ : 3.61 17.43 38.00 39.83 52.87 0.93 5.23 EU-15 : 0.85 1.14 15.75 15.16 16.34 0.70 0.69 Japan : 0.62 0.19 4.90 3.73 5.06 0.00 0.65 China : 1.90 14.29 10.10 14.97 22.55 0.23 3.52 : : 2000/01 (Projected) World 2/ : February : 25.63 168.54 47.51 143.58 167.96 47.77 25.96 March : 26.84 169.58 48.36 143.92 168.38 48.58 27.82 United States : February : 7.90 75.38 0.08 43.27 47.84 26.13 9.39 March : 7.90 75.38 0.08 43.27 47.84 26.54 8.99 Total foreign : February : 17.74 93.16 47.43 100.30 120.13 21.64 16.57 March : 18.95 94.20 48.28 100.65 120.55 22.05 18.83 Major exporters 3/ : February : 11.77 62.60 1.10 40.90 43.93 19.40 12.14 March : 13.07 63.60 1.10 41.15 44.23 19.80 13.74 Argentina Feb : 5.61 24.00 0.50 18.25 19.03 5.00 6.08 Mar : 5.61 25.00 0.50 18.50 19.28 5.10 6.73 Brazil Feb : 6.15 35.50 0.60 22.00 24.20 12.00 6.05 Mar : 7.45 35.50 0.60 22.00 24.25 12.30 7.00 Major importers 4/ : February : 5.33 18.54 37.82 43.48 57.04 0.89 3.77 March : 5.23 18.84 38.52 43.64 57.25 0.90 4.45 EU-15 Feb : 0.69 1.09 16.65 16.06 17.19 0.70 0.54 Mar : 0.69 1.09 16.65 16.06 17.19 0.70 0.54 Japan Feb : 0.65 0.19 4.75 3.72 5.03 0.00 0.56 Mar : 0.65 0.19 4.75 3.72 5.03 0.00 0.56 China Feb : 3.62 15.40 8.60 17.29 25.06 0.17 2.38 Mar : 3.52 15.70 9.30 17.45 25.28 0.18 3.06 =============================================================================== 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-372-24 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 1998/99 World 2/ : 3.65 107.73 39.33 107.13 39.06 4.52 United States : 0.20 34.28 0.09 27.81 6.46 0.30 Total foreign : 3.45 73.44 39.24 79.32 32.59 4.22 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/ : 0.94 24.35 26.58 45.64 5.05 1.18 EU-15 : 0.75 12.91 19.95 27.66 5.04 0.92 China : 0.00 10.02 1.40 11.42 0.01 0.00 : : 1999/00 (Estimated) World 2/ : 4.52 108.86 39.39 109.84 38.83 4.11 United States : 0.30 34.13 0.05 27.56 6.65 0.27 Total foreign : 4.22 74.73 39.35 82.28 32.18 3.84 Major exporters 3/ : 1.41 34.28 0.10 8.83 25.62 1.35 Argentina : 0.50 14.10 0.00 0.47 13.74 0.39 Brazil : 0.84 16.74 0.10 7.20 9.52 0.96 India : 0.07 3.44 0.00 1.16 2.35 0.00 Major importers 4/ : 1.18 25.59 26.23 46.84 5.17 0.99 EU-15 : 0.92 12.02 19.77 26.82 5.13 0.76 China : 0.00 11.90 0.63 12.50 0.03 0.00 : : 2000/01 (Projected) World 2/ : February : 4.10 114.37 39.82 114.48 39.89 3.91 March : 4.11 114.54 39.74 114.71 39.69 3.98 United States : February : 0.27 34.59 0.05 28.30 6.35 0.25 March : 0.27 34.50 0.05 28.44 6.12 0.25 Total foreign : February : 3.84 79.77 39.77 86.18 33.54 3.66 March : 3.84 80.04 39.69 86.27 33.57 3.73 Major exporters 3/ : February : 1.35 35.97 0.10 9.01 27.00 1.41 March : 1.35 36.04 0.10 9.01 27.02 1.47 Argentina Feb : 0.39 14.87 0.00 0.49 14.40 0.37 Mar : 0.39 15.08 0.00 0.49 14.55 0.43 Brazil Feb : 0.96 17.38 0.10 7.40 10.10 0.94 Mar : 0.96 17.38 0.10 7.40 10.10 0.94 India Feb : 0.00 3.72 0.00 1.12 2.50 0.10 Mar : 0.00 3.58 0.00 1.12 2.37 0.10 Major importers 4/ : February : 0.99 28.20 26.80 50.00 5.15 0.83 March : 0.99 28.32 26.70 50.02 5.17 0.83 EU-15 Feb : 0.76 12.72 20.12 27.87 5.13 0.59 Mar : 0.76 12.72 20.12 27.87 5.13 0.59 China Feb : 0.00 13.73 0.50 14.22 0.02 0.00 Mar : 0.00 13.86 0.40 14.23 0.03 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-372-25 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 1998/99 World 2/ : 2.35 24.67 7.95 24.62 8.17 2.18 United States : 0.63 8.20 0.04 7.10 1.08 0.69 Total foreign : 1.72 16.47 7.92 17.52 7.10 1.49 Major exporters 3/ : 0.90 10.02 0.85 4.78 6.22 0.76 Argentina : 0.33 3.16 0.00 0.11 3.14 0.25 Brazil : 0.41 3.93 0.21 2.85 1.38 0.32 EU-15 : 0.16 2.93 0.64 1.83 1.70 0.20 Major importers 4/ : 0.37 3.02 2.19 5.29 0.08 0.21 China : 0.35 2.05 0.95 3.08 0.08 0.19 Pakistan : 0.02 0.00 0.41 0.41 0.00 0.02 : : 1999/00 (Estimated) World 2/ : 2.18 24.83 7.07 24.47 7.22 2.39 United States : 0.69 8.09 0.04 7.28 0.62 0.91 Total foreign : 1.49 16.74 7.03 17.19 6.59 1.48 Major exporters 3/ : 0.76 9.82 0.77 4.75 5.82 0.78 Argentina : 0.25 3.12 0.00 0.11 3.04 0.23 Brazil : 0.32 3.97 0.22 3.00 1.12 0.38 EU-15 : 0.20 2.73 0.55 1.64 1.66 0.17 Major importers 4/ : 0.21 3.27 1.57 4.68 0.08 0.29 China : 0.19 2.47 0.56 2.86 0.08 0.28 Pakistan : 0.02 0.01 0.23 0.24 0.00 0.01 : : 2000/01 (Projected) World 2/ : February : 2.39 25.98 7.20 25.80 7.39 2.39 March : 2.39 26.02 7.30 25.90 7.45 2.36 United States : February : 0.91 8.13 0.03 7.44 0.59 1.04 March : 0.91 8.10 0.03 7.39 0.64 1.01 Total foreign : February : 1.48 17.85 7.17 18.36 6.80 1.35 March : 1.48 17.92 7.26 18.50 6.82 1.34 Major exporters 3/ : February : 0.78 10.31 0.74 4.99 6.04 0.80 March : 0.78 10.36 0.74 4.99 6.06 0.83 Argentina Feb : 0.23 3.29 0.00 0.11 3.18 0.24 Mar : 0.23 3.34 0.00 0.11 3.20 0.27 Brazil Feb : 0.38 4.14 0.19 3.12 1.20 0.38 Mar : 0.38 4.14 0.19 3.12 1.20 0.38 EU-15 Feb : 0.17 2.88 0.55 1.76 1.66 0.17 Mar : 0.17 2.88 0.55 1.76 1.66 0.17 Major importers 4/ : February : 0.29 3.76 1.52 5.32 0.05 0.20 March : 0.29 3.74 1.62 5.44 0.05 0.17 China Feb : 0.28 2.88 0.45 3.36 0.05 0.20 Mar : 0.28 2.90 0.40 3.36 0.05 0.16 Pakistan Feb : 0.01 0.03 0.28 0.31 0.00 0.01 Mar : 0.01 0.03 0.28 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-372-26 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 : 43.65 84.88 25.12 85.32 23.77 -0.25 44.81 United States : 3.89 13.92 0.44 10.40 4.34 -0.44 3.94 Total foreign : 39.76 70.96 24.68 74.91 19.42 0.19 40.88 Major exporters 5/ : 12.32 37.83 1.64 23.76 15.39 -0.03 12.67 Pakistan : 1.52 6.30 0.93 7.00 0.01 0.03 1.71 India : 4.17 12.88 0.51 12.62 0.20 0.00 4.75 Central Asia 6/ : 1.51 6.60 0.01 1.20 5.41 0.00 1.50 Afr. Fr. Zone 7/ : 0.92 4.03 4/ 0.26 3.60 0.00 1.09 S. Hemis. 8/ : 3.02 5.40 0.20 1.18 4.88 -0.08 2.63 Australia : 1.63 3.29 4/ 0.19 3.04 -0.10 1.79 Argentina : 1.04 0.92 0.02 0.38 1.10 0.01 0.49 Major importers : 25.64 30.05 17.93 44.13 2.81 0.21 26.48 Brazil : 1.49 2.10 1.36 3.90 0.02 0.00 1.02 Mexico : 0.36 1.04 1.49 2.15 0.22 0.04 0.49 China : 19.96 20.70 0.36 19.20 0.68 0.00 21.13 Europe : 1.68 2.30 5.32 6.21 1.38 0.09 1.62 Turkey : 0.56 3.86 1.14 4.60 0.36 0.00 0.59 Selected Asia 9/ : 1.60 0.05 8.27 8.07 0.14 0.09 1.62 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 : 44.81 87.21 28.34 91.87 27.23 0.26 41.00 United States : 3.94 16.97 0.10 10.24 6.75 0.09 3.92 Total foreign : 40.88 70.24 28.24 81.63 20.48 0.17 37.08 Major exporters 5/ : 12.67 39.77 2.27 25.34 15.65 -0.03 13.74 Pakistan : 1.71 8.60 0.45 7.65 0.45 0.03 2.64 India : 4.75 12.18 1.40 13.50 0.05 0.00 4.78 Central Asia 6/ : 1.50 7.31 0.01 1.35 5.74 0.00 1.72 Afr. Fr. Zone 7/ : 1.09 3.89 4/ 0.24 3.64 0.00 1.11 S. Hemis. 8/ : 2.63 5.26 0.28 1.21 4.39 -0.08 2.65 Australia : 1.79 3.40 4/ 0.19 3.21 -0.10 1.89 Argentina : 0.49 0.62 0.05 0.40 0.38 0.01 0.36 Major importers : 26.48 27.68 19.61 48.39 3.77 0.20 21.41 Brazil : 1.02 3.10 1.55 4.10 0.01 0.00 1.56 Mexico : 0.49 0.67 1.85 2.40 0.15 0.03 0.43 China : 21.13 17.60 0.12 22.20 1.70 0.00 14.95 Europe : 1.62 2.63 5.15 5.98 1.56 0.08 1.78 Turkey : 0.59 3.63 2.40 5.60 0.20 0.00 0.83 Selected Asia 9/ : 1.62 0.04 8.54 8.11 0.15 0.10 1.86 Indonesia : 0.24 0.01 2.08 2.00 0.02 0.05 0.27 South Korea : 0.41 4/ 1.53 1.48 0.04 0.00 0.43 =============================================================================== 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 2.13 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-372-27 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 : February : 40.97 88.06 26.98 92.10 26.49 0.14 37.27 March : 41.00 88.16 26.89 91.84 26.40 0.14 37.67 United States : February : 3.92 17.22 0.03 9.70 7.00 -0.03 4.50 March : 3.92 17.22 0.03 9.50 6.90 -0.03 4.80 Total foreign : February : 37.05 70.84 26.95 82.40 19.49 0.17 32.77 March : 37.08 70.94 26.86 82.34 19.50 0.17 32.87 Major exporters 5/ : February : 13.78 37.77 1.93 25.46 15.30 -0.03 12.74 March : 13.74 37.87 1.93 25.43 15.50 -0.03 12.64 Pakistan Feb : 2.64 8.10 0.15 7.80 0.60 0.03 2.46 Mar : 2.64 8.10 0.15 7.80 0.60 0.03 2.46 India Feb : 4.78 11.50 1.40 13.30 0.05 0.00 4.33 Mar : 4.78 11.50 1.40 13.30 0.05 0.00 4.33 Central Asia 6/Feb : 1.75 6.38 0.01 1.51 5.16 0.00 1.48 Mar : 1.72 6.38 0.01 1.47 5.20 0.00 1.44 Afr. Fr. Zn. 7/Feb : 1.11 3.33 4/ 0.23 3.24 0.00 0.96 Mar : 1.11 3.33 4/ 0.23 3.30 0.00 0.90 S. Hemis 8/ Feb : 2.65 5.85 0.22 1.27 4.81 -0.08 2.72 Mar : 2.65 5.95 0.22 1.27 4.91 -0.08 2.72 Australia Feb : 1.89 3.30 4/ 0.20 3.20 -0.10 1.89 Mar : 1.89 3.40 4/ 0.20 3.30 -0.10 1.89 Argentina Feb : 0.36 0.93 0.02 0.45 0.50 0.01 0.35 Mar : 0.36 0.93 0.02 0.45 0.50 0.01 0.35 Major importers Feb : 21.41 30.17 18.46 48.73 3.04 0.20 18.07 Mar : 21.41 30.17 18.36 48.63 2.84 0.20 18.27 Brazil Feb : 1.56 3.70 1.10 4.35 0.38 0.00 1.64 Mar : 1.56 3.70 1.10 4.35 0.38 0.00 1.64 Mexico Feb : 0.43 0.34 2.10 2.30 0.10 0.03 0.44 Mar : 0.43 0.34 2.10 2.30 0.10 0.03 0.44 China Feb : 14.95 20.00 0.50 23.00 0.70 0.00 11.75 Mar : 14.95 20.00 0.50 23.00 0.50 0.00 11.95 Europe Feb : 1.78 2.38 5.35 6.05 1.58 0.08 1.80 Mar : 1.78 2.38 5.35 6.05 1.58 0.08 1.80 Turkey Feb : 0.83 3.70 1.65 5.30 0.15 0.00 0.73 Mar : 0.83 3.70 1.55 5.20 0.15 0.00 0.73 Sel. Asia 9/ Feb : 1.86 0.05 7.76 7.73 0.13 0.10 1.71 Mar : 1.86 0.05 7.76 7.73 0.13 0.10 1.71 Indonesia Feb : 0.27 0.01 2.10 2.05 0.01 0.05 0.27 Mar : 0.27 0.01 2.10 2.05 0.01 0.05 0.27 S. Korea Feb : 0.43 4/ 1.35 1.35 0.04 0.00 0.40 Mar : 0.43 4/ 1.35 1.35 0.04 0.00 0.40 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ For foreign countries, reflects cotton lost or destroyed in the marketing channel; for the United States, reflects the difference between implicit stocks based on supply less total use and ending stocks based on Bureau of Census data. 3/ World trade includes estimated trade among the 12 countries of the former USSR and three Baltic states of 2.33 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-372-28 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 : Annual : 26386 19278 46134 29741 5297 35590 81724 6912 162.7 : 2000 : I : 6653 4834 11605 7602 1284 9019 20624 1754 42.6 II : 6699 4478 11288 7755 1392 9286 20574 1744 43.2 III : 6914 4606 11623 7503 1332 8970 20593 1751 41.2 IV : 6511 5010 11634 7625 1393 9141 20775 1786 40.7 Annual : Feb Est : 26776 18905 46125 30486 5401 36416 82541 7035 168.0 Mar Est : 26777 18928 46150 30485 5401 36416 82566 7035 167.7 : 2001 : I *: 6200 4800 11108 7650 1325 9105 20213 1760 41.9 II *: 6675 4550 11329 7900 1425 9460 20789 1745 43.4 III *: 6620 4850 11567 7700 1400 9230 20797 1760 41.1 IV *: 6100 5100 11303 7750 1450 9330 20633 1820 41.1 Annual : Feb Proj : 25725 19250 45390 31050 5600 37175 82565 7085 168.5 Mar Proj : 25595 19300 45307 31000 5600 37125 82432 7085 167.5 =============================================================================== * 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 : 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 : 71.59 50.43 55.7 69.0 62.1 12.03 III : 65.43 46.43 56.8 73.9 67.1 12.70 IV : 72.26 40.78 57.6 76.2 83.1 12.73 Annual : Feb Est : 69.65 44.70 56.2 70.5 68.9 12.34 Mar Est : 69.65 44.70 56.2 70.5 68.9 12.34 : 2001 : I *: 78-79 41-42 57-58 61-62 75-76 13.20-13.40 II *: 71-75 44-46 57-59 64-68 68-72 12.60-13.10 III *: 72-78 42-46 57-61 66-72 74-80 12.70-13.50 IV *: 72-78 34-36 55-59 72-78 77-83 13.70-14.70 Annual : Feb Proj : 72-77 40-42 55-59 66-70 73-78 12.60-13.30 Mar Proj : 73-78 40-43 56-60 66-70 73-78 13.05-13.65 =============================================================================== *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-372-29 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 2417 411 26932 69.1 2000 Est. Feb : 411 26882 3076 30369 2510 497 27362 69.5 Mar : 411 26888 3032 30331 2516 525 27290 69.4 2001 Proj. Feb : 497 25831 3080 29408 2530 365 26513 66.8 Mar : 525 25701 3080 29306 2550 390 26366 66.4 : PORK : 1999 : 584 19308 827 20720 1278 489 18952 53.9 2000 Est. Feb : 489 18935 967 20391 1292 491 18608 52.4 Mar : 489 18952 967 20408 1305 477 18626 52.5 2001 Proj. Feb : 491 19280 985 20756 1315 525 18916 52.8 Mar : 477 19330 1000 20807 1350 525 18932 52.9 : TOTAL RED MEAT 4/ : 1999 : 994 46284 3813 51092 3700 914 46477 124.8 2000 Est. Feb : 914 46274 4174 51362 3808 1006 46548 123.8 Mar : 914 46299 4128 51341 3827 1020 46494 123.7 2001 Proj. Feb : 1006 45539 4200 50745 3849 904 45992 121.4 Mar : 1020 45456 4215 50691 3904 929 45858 121.1 : BROILERS : 1999 : 711 29468 4 30183 4920 796 24468 77.0 2000 Est. Feb : 796 30200 6 31001 5548 798 24655 76.9 Mar : 796 30199 6 31001 5548 798 24655 76.9 2001 Proj. Feb : 798 30730 4 31532 5700 855 24977 77.2 Mar : 798 30681 4 31483 5700 830 24953 77.2 : TURKEYS : 1999 : 304 5230 1 5535 379 254 4902 18.0 2000 Est. Feb : 254 5332 1 5587 444 242 4902 17.8 Mar : 254 5333 1 5588 458 241 4889 17.7 2001 Proj. Feb : 242 5528 1 5771 460 275 5035 18.1 Mar : 241 5528 1 5770 460 275 5034 18.1 : TOTAL POULTRY 5/ : 1999 : 1022 35252 7 36281 5692 1058 29531 95.5 2000 Est. Feb : 1058 36063 9 37129 6219 1049 29861 95.8 Mar : 1058 36062 9 37129 6229 1048 29852 95.8 2001 Proj. Feb : 1049 36782 7 37838 6360 1140 30337 96.5 Mar : 1048 36733 7 37788 6360 1115 30311 96.5 : RED MEAT & POULTRY: 1999 : 2016 81537 3820 87372 9392 1972 76008 220.3 2000 Est. Feb : 1972 82337 4183 88491 10026 2055 76409 219.6 Mar : 1972 82361 4137 88470 10056 2068 76346 219.4 2001 Proj. Feb : 2055 82321 4207 88583 10209 2044 76329 218.0 Mar : 2068 82189 4222 88479 10264 2044 76169 217.6 ============================================================================ 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-372-30 U.S. Egg Supply and Use =============================================================================== : : : 2000 Estimated : 2001 Projected : : :-----------------:----------------- Commodity : 1998 : 1999 : Feb : Mar : Feb : Mar =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 7.4 8.4 7.6 7.6 11.4 11.4 Production : 6657.9 6912.0 7034.6 7034.6 7085.0 7085.0 Imports : 5.8 7.4 8.9 8.4 5.0 5.0 Total supply : 6671.2 6927.8 7051.1 7050.6 7101.4 7101.4 : Use : Exports : 218.8 161.7 167.6 171.8 170.0 170.0 Hatching use : 921.8 941.7 940.2 940.2 950.0 950.0 Ending stocks : 8.4 7.6 11.4 11.4 5.0 10.0 Consumption : Total : 5522.2 5816.7 5931.9 5927.2 5976.4 5971.4 Per capita (number) : 244.9 255.7 258.5 258.2 258.2 258.0 =============================================================================== U.S. Milk Supply, Use and Prices =============================================================================== : : : 1999/00 Est 1/ : 2000/01 Proj 1/ Commodity :1997/98:1998/99:-----------------:----------------- : 1/ : 1/ : Feb : Mar : Feb : Mar =============================================================================== MILK : Billion pounds Supply : Beg. commercial stocks 2/ : 5.9 5.8 7.4 7.4 8.6 8.9 Production : 156.5 161.2 167.5 167.4 168.4 167.1 Farm use : 1.4 1.4 1.3 1.3 1.3 1.3 Marketings : 155.1 159.8 166.1 166.1 167.1 165.8 Imports 2/ : 4.1 4.8 4.6 4.6 4.3 4.4 Total cml. supply 2/ : 165.1 170.4 178.2 178.1 180.0 179.1 Use : Commercial use 2/ 3/ : 158.6 162.7 168.8 168.5 171.9 170.4 Ending commercial stks. 2/: 5.8 7.4 8.6 8.9 7.5 8.2 CCC net removals: : Milkfat basis 4/ : 0.7 0.3 0.8 0.8 0.5 0.5 Skim-solids basis 4/ : 4.5 5.4 8.5 8.5 6.9 6.0 : : Dollars per cwt Milk Prices : Basic Formula/Class III 5/: 13.28 14.04 9.99 9.99 9.65- 10.10- : 10.15 10.50 : Class IV : NA NA 11.51 11.51 11.90- 12.30- : 12.60 12.90 : All milk 6/ : 14.65 15.38 12.62 12.62 12.45- 12.80- : 12.95 13.20 : : Million pounds CCC product net removals 4/: Butter : 21 1 11 11 5 5 Cheese : 8 6 17 17 30 30 Nonfat dry milk : 368 449 690 690 565 485 Dry whole milk : 15 12 34 34 3 3 =============================================================================== 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-372-31 Note: Tables on pages 31-33 present a 19-year record of the differences between the March projection and the final estimate. Using world wheat production as an example, changes between the March projection and the final estimate have averaged 2.8 million tons (0.5%) ranging from -8.0 to 6.9 million tons. The March projection has been below the estimate 13 times and above 6 times. Reliability of March 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 : 0.5 2.8 -8.0 6.9 13 6 U.S. : 0.1 0.0 0.1 0.1 8 5 Foreign : 0.6 2.7 -8.0 6.9 12 6 Exports : World : 2.4 2.7 -9.0 3.4 15 4 U.S. : 2.7 0.9 -1.4 2.4 9 10 Foreign : 2.9 2.3 -7.7 2.5 12 6 Domestic use : World : 0.8 4.4 -9.4 8.1 9 10 U.S. : 3.4 1.1 -2.4 2.4 8 11 Foreign : 0.7 3.6 -7.9 7.6 10 8 Ending stocks : World : 3.1 3.9 -9.1 5.4 12 7 U.S. : 6.3 1.2 -4.4 2.5 9 10 Foreign : 2.8 2.6 -7.3 4.9 10 7 : COARSE GRAINS 3/ : Production : World : 0.8 7.0 -17.3 10.9 14 5 U.S. : 0.1 0.1 -0.2 1.3 9 5 Foreign : 1.1 6.4 -17.3 10.9 13 5 Exports : World : 3.0 3.1 -7.5 9.9 10 9 U.S. : 6.5 3.3 -5.5 9.1 10 9 Foreign : 4.5 2.3 -7.5 6.7 8 10 Domestic use : World : 0.9 7.2 -12.8 24.2 10 9 U.S. : 2.8 5.0 -17.3 11.5 7 12 Foreign : 0.8 5.4 -11.5 17.5 11 7 Ending stocks : World : 7.2 9.8 -20.0 13.9 17 2 U.S. : 8.5 5.1 -13.8 15.3 11 8 Foreign : 8.2 5.8 -18.4 10.5 16 2 : RICE, milled : Production : World : 1.2 4.2 -13.7 2.3 16 3 U.S. : 0.9 0.0 -0.2 0.2 5 2 Foreign : 1.1 3.5 -9.9 2.3 15 3 Exports : World : 7.2 1.3 -4.5 1.2 17 2 U.S. : 5.0 0.1 -0.4 0.3 9 7 Foreign : 7.7 1.1 -4.4 1.1 16 2 Domestic use : World : 0.9 3.1 -9.8 2.9 14 5 U.S. : 5.4 0.1 -0.3 0.4 9 9 Foreign : 0.9 2.8 -10.0 3.1 13 5 Ending stocks : World : 7.0 2.9 -11.6 4.0 13 6 U.S. : 17.5 0.2 -0.3 0.4 10 9 Foreign : 6.3 2.3 -6.2 3.9 12 6 ------------------------------------------------------------------------------- 1/ Footnotes at end of table. CONTINUED WASDE-372-32 Reliability of March 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 : 1.5 1.7 -4.2 2.6 11 8 U.S. : 1.0 0.6 -1.6 1.8 8 8 Foreign : 2.4 1.4 -4.6 2.6 11 7 Exports : World : 3.1 1.0 -4.9 1.4 12 6 U.S. : 5.3 1.1 -2.2 3.0 12 7 Foreign : 12.9 1.1 -3.2 2.4 8 10 Domestic use : World : 1.8 2.1 -5.3 2.4 12 7 U.S. : 2.3 0.9 -3.0 1.0 12 6 Foreign : 1.8 1.3 -3.9 2.2 11 7 Ending stocks : World : 11.8 2.2 -3.7 5.7 10 9 U.S. : 21.1 1.7 -2.7 5.4 5 14 Foreign : 12.0 1.4 -4.5 3.5 11 7 : COTTON : Million 480-pound bales Production : World : 1.2 1.0 -2.9 3.0 10 8 U.S. : 0.6 0.1 0.1 0.3 5 13 Foreign : 1.4 1.0 -3.2 2.9 10 7 Exports : World : 3.4 0.8 -2.7 1.4 9 10 U.S. : 4.7 0.3 -0.7 0.9 6 12 Foreign : 4.4 0.8 -3.6 1.3 10 8 Mill use : World : 1.7 1.4 -6.0 1.3 9 10 U.S. : 2.8 0.2 -0.7 0.2 13 4 Foreign : 1.7 1.3 -5.5 1.4 9 9 Ending stocks : World : 7.0 2.3 -3.9 8.4 10 9 U.S. : 9.6 0.4 -0.6 1.6 7 12 Foreign : 7.6 2.2 -4.2 7.9 10 8 ------------------------------------------------------------------------------- 1/ Final estimate for 1981/82-99/00 is defined as the first November estimate following the marketing year. 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-372-33 Reliability of United States March 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 : 0.1 2 -8 38 1 1 Exports : 6.5 111 -254 284 9 10 Domestic use : 2.9 170 -474 345 8 11 Ending stocks : 10.3 200 -535 713 12 7 : SORGHUM : Production : 0.1 0 0 4 0 2 Exports : 13.0 31 -90 72 12 6 Domestic use : 9.2 44 -178 100 9 10 Ending stocks : 31.5 38 -69 148 10 9 : BARLEY : Production : 0.4 2 -3 11 8 3 Exports : 9.4 7 -20 13 5 12 Domestic use : 5.2 21 -30 70 10 8 Ending stocks : 11.1 19 -53 24 11 8 : OATS : Production : 0.1 0 -2 1 3 2 Exports : 22.4 1 -1 3 3 4 Domestic use : 3.0 12 -26 36 9 10 Ending stocks : 10.4 14 -47 21 10 9 : : Thousand short tons SOYBEAN MEAL : Production : 2.4 718 -2328 717 14 5 Exports : 7.2 481 -1750 941 15 4 Domestic use : 2.0 461 -1100 691 15 4 Ending stocks : 32.8 79 -214 208 8 10 : : Million pounds SOYBEAN OIL : Production : 2.3 329 -1173 365 14 5 Exports : 16.3 253 -700 664 8 11 Domestic use : 1.7 204 -685 200 14 5 Ending stocks : 16.4 238 -692 350 11 8 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 2.5 595 -666 1613 12 5 Pork : 2.8 449 -1265 1667 11 6 Broilers : 1.6 319 -579 496 10 7 Turkeys : 2.2 93 -177 161 9 8 : : Million dozen Eggs : 1.3 80 -120 169 12 5 : : Billion pounds Milk : 1.0 1.4 -3.2 3.1 9 8 ------------------------------------------------------------------------------- 1/ See pages 31 and 32 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-99/00 is defined as the first November estimate following the marketing year. 3/ May not total 19 for crops and 17 for animal production if projection was the same as the final estimate. 4/ Calendar years 1984 thru 1999 for meats and eggs; October-September years 1983/84 thru 1998/99 for milk. Final for animal products is defined as latest annual production estimate published by NASS. WASDE-372-34 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 -----