ISSN:1554-9089 WASDE-441 December 11, 2006 WHEAT: Projected U.S. wheat ending stocks for 2006/07 are raised 20 million bushels this month. Exports are lowered 25 million bushels reflecting the slow pace of shipments and sales and increased competition from higher world production and supplies. A 5-million-bushel increase in food use based on the most recent mill grind data from the U.S. Bureau of the Census partly offsets lowered exports. The price range is lowered 10 cents on the top end of the range to $4.15 to $4.45 per bushel. Global 2006/07 wheat production is raised to 589 million tons, up 2 million from last month. Increases in Argentina and Canada more than offset a reduction in Brazil. Argentina's production is raised 1 million tons based on early yield reports. Production for Canada is raised 1 million tons based on the most recent estimates from Statistics Canada. Brazil production is lowered 0.3 million tons this month as earlier frost damage curtailed yields for this year's crop. Global ending stocks for 2006/07 are raised to 121 million tons, up 2 million tons and in line with the rise in world output. Larger ending stocks in Canada and the United States account for most of the increase. Global trade and consumption are both raised slightly, but a small increase in beginning stocks is nearly offsetting. Higher exports by Argentina more than offset the reduction in U.S. exports. COARSE GRAINS: U.S. corn, sorghum, and oats supply and use projections for 2006/07 are all unchanged this month. Barley exports for 2006/07 are raised 5 million bushels reflecting the pace of export shipments and sales for the marketing year. Barley ending stocks are lowered correspondingly. Corn and sorghum prices are both raised 10 cents on both ends of their respective ranges to $2.90 to $3.30 per bushel. Barley and oats prices are unchanged. Global 2006/07 coarse grain production is raised to 969 million tons, up 4.5 million tons from last month. Much of this increase results from higher corn production in Argentina and Brazil where area is raised in both countries due to recently favorable weather and the sharp rise in world corn prices. Corn production for Argentina and Brazil is raised 1.5 million tons and 1 million tons, respectively. Corn production is also raised 0.5 million tons in Canada, Russia, South Africa, and Ukraine. Partially offsetting these increases is a 0.6 million ton reduction in Croatia's corn output. The projected increase in South Africa reflects higher prices and adequate early season moisture that is expected to boost plantings. Corn production for Canada is raised based on recent estimates from Statistics Canada, which also lowered oat production 0.2 million tons. Changes for Croatia, Russia, and Ukraine are based on updated harvest results. World coarse grain consumption and trade are raised this month. The largest increases in consumption are for Argentina and EU-25 corn. The increase for Argentina is driven by higher expected feed use. The rise in EU-25 consumption is consistent with higher imports and lower exports. High EU-25 grain prices are allowing intervention stocks to move into consumption. The largest export increases are projected for Argentina and Brazil where higher corn production will increase exportable supplies. Global coarse grain ending stocks are raised 2.5 million tons as corn stocks expand, especially in South Africa, Brazil, and EU-25. RICE: No changes in rice are made on the 2006/07 supply side from a month ago. However, on the use side, 2006/07 exports are raised 5 million cwt to 102 million cwt. Despite a reduction in exports to some markets due to biotech rice (LLRICE601), exports to other markets are doing well, particularly to markets in the Western Hemisphere (including Mexico and Central America) and Iraq. Rough rice exports are increased 3 million cwt to 38 million cwt, while exports of combined milled and brown rice are increased 2 million cwt to 64 million cwt (on a rough basis). Long-grain exports are increased 4 million cwt and combined medium- and short-grain exports are increased 1 million cwt. As a result, ending stocks are lowered 5 million cwt to 29.5 million cwt. The season- average farm price range is raised 55 cents per cwt on the low end and increased 45 cents on the high end to $9.55 to $9.95 per cwt compared to $7.62 per cwt in 2005/06. Global 2006/07 rice supply and use are changed slightly from last month. Production and ending stocks are lowered marginally while imports and exports are increased slightly. The decline in global rice production is due to smaller crop projections for Australia, Brazil, and Uruguay, which are partially offset by increases for Argentina, the Philippines, and South Korea. Brazil's imports are increased from a month ago. Global exports are raised slightly from a month ago with an increase for the United States, which is partially offset by reductions for Australia and Uruguay. World rice ending stocks for 2006/07 are projected at 78.6 million tons, down slightly from last month, but 1.8 million tons below 2005/06. Stocks are lowered for the United States, Australia, Brazil, Indonesia, and Uruguay and increased for Argentina, Vietnam, and South Korea. OILSEEDS: Total U.S. oilseed production is projected at 97.0 million tons, down fractionally due to a slight reduction in cottonseed. Soybean supply and use projections for 2006/07 are unchanged from last month. Soybean ending stocks for 2006/07 are projected at a record 565 million bushels, up 26 percent from 2005/06. Soybean oil supply, use, and ending stocks for 2006/07 are all raised this month. Despite unchanged soybean crush, soybean oil production is increased due to a higher projected extraction rate. U.S. season-average soybean prices for 2006/07 are projected at $5.70 to $6.50 compared with $5.40 to $6.40 last month. Soybean meal prices are unchanged at $165 to $190 per short ton. Soybean oil prices are projected at 26 to 29 cents per pound compared with 24 to 28 cents last month. Global oilseed production for 2006/07 is projected at 395.5 million tons, up 3 million tons from last month. Foreign oilseed production accounts for most of the change with increases for soybeans, rapeseed, and sunflowerseed more than offsetting reductions for cottonseed. Argentina soybean production is increased 0.7 million tons to a record 42 million tons based on increased area as producers respond to higher prices. Canadian rapeseed production is raised 0.6 million tons to a record 9.1 million tons, based on the latest survey results from Statistics Canada. Canada's soybean crop is also increased this month based on the survey. Ukraine sunflowerseed production is increased to 5.0 million tons due to higher yields. Other changes include increased soybean production for India, increased cottonseed production for China, reduced cottonseed production for Australia, and increased palm kernel production for Indonesia. Global oilseed crush is increased this month to reflect higher soybean meal consumption, mainly in Brazil and Vietnam. Additionally, vegetable oil production, consumption, and stocks are increased due to gains in Malaysia and Indonesia palm oil production. Global oilseed stocks are increased 1 million tons as production gains are only partly offset by increased crush. SUGAR: Projected 2006/07 U.S. sugar supply is increased 111,000 short tons, raw value, from last month, mainly due to higher production, which more than offsets lower beginning stocks. Production is increased 177,000 tons, based on processor estimates compiled by the Farm Service Agency. Beet sugar production is increased 191,000 tons to a record 5.1 million tons, while Hawaii cane sugar production is lowered 24,000 tons. Louisiana cane sugar production is unchanged based on data reported by sugarcane processors prior to recent freezes. Sugar use is unchanged. For 2005/06, processor revisions reduce ending stocks 63,000 tons. LIVESTOCK, POULTRY, AND DAIRY: Compared with last month, total forecasts for U.S. meat production is raised for 2006 but lowered for 2007. Beef production for 2006 is raised because cow slaughter during the fourth quarter is expected to remain high as cattle producers continue to respond to tight forage supplies. Small increases are made to broiler meat production but estimates for pork and turkey are unchanged from last month. The 2007 broiler meat forecasts are reduced from last month as eggs set and chick placements point to slower production growth. Beef, pork, and turkey production forecasts are unchanged. Forecast 2006 prices for hogs, broilers, and turkeys are raised as production growth remains moderate, but cattle prices are slightly lower in the fourth quarter as packers continue to struggle with weak margins. Forecasts of cattle and hog prices are unchanged for 2007, but poultry prices are raised as production growth is forecast to lag 2006 levels. Egg prices are raised as production growth is modest and demand remains firm. Red meat and poultry trade forecasts for 2006 and 2007 are lowered from last month. Pork forecasts are little changed but imports of beef are reduced as recent imports from Australia are below expectations. Beef export forecasts for 2006 and 2007 are lowered as trade to a number of markets has slowed and uncertainties limit exports to South Korea. Broiler export forecasts for 2006 and 2007 are reduced, reflecting weaker-than-expected third quarter sales and apparent softness in export markets. U.S. milk production forecasts for 2006 and 2007 are unchanged from last month. Despite gains in milk prices, weaker milk-feed price ratios will likely slow growth in milk production into 2007. However, dairy markets are relatively tight as demand for many dairy products is reducing skim-basis stocks and supporting higher prices. Supplies of butter are expected to remain ample, pressuring 2006 butter prices, but price forecasts for cheese, nonfat dry milk, and whey are raised from last month. As milk production growth slows in 2007, tight world supplies of dairy products are likely to support higher product prices. Thus, price forecasts for products, except butter, are raised from last month, resulting in higher Class price forecasts. The butter price forecast is lowered fractionally from last month. The range of the all milk price for 2006 is forecast at $12.85 to $12.95, and the price forecast for 2007 is $13.70 to $14.50. COTTON: This month's 2006/07 U.S. cotton supply and demand estimates include lower domestic mill use and exports, resulting in higher ending stocks. Production is virtually unchanged, as a significant increase for Georgia is about offset by lower estimates for the Carolinas, the Delta States, and the California Pima crop. Domestic mill use is reduced to 5.1 million bales based on lower than expected activity to date. Exports are reduced 200,000 bales to 16.0 million as export sales and shipments to China continue to lag the year-ago level significantly. Ending stocks are raised 5 percent to 6.3 million bales. Slightly higher beginning stocks and production are raising the 2006/07 world ending stocks this month. Beginning stocks are raised in India and the African Franc Zone due to adjustments in 2005/06 trade. Production for the current season is raised in China, Brazil, and Turkmenistan, but lowered in Australia, Syria, and Uzbekistan. World consumption and trade are virtually unchanged. Ending stocks are raised to 51.5 million bales, an increase of nearly 1 percent from last month. 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. APPROVED BY: CHARLES F.CONNER ACTING SECRETARY OF AGRICULTURE You are invited to attend: Agriculture at the Crossroads: Energy, Farm & Rural Policy Crystal Gateway Marriott Hotel Arlington, Virginia March 1-2, 2007 The Forum will feature Secretary Mike Johanns, distinguished guest speakers, and a panel of America's leading CEOs focusing on the impact of bioenergy on agriculture. Attendees at the 83rd annual Outlook Forum will include top officials, industry analysts, business leaders, farmers and ranchers, and other experts in agriculture. $300 if you register by Feb. 5, 2007 $350 if you register after Feb. 5, 2007 For a program preview & to register, go to: www.usda.gov/oce/forum Networking opportunities, 1,500 expected to attend Topical sessions, including luncheon and dinner speakers To get updates on the meeting, send your e-mail and postal address to agforum@oce.usda.gov or write to 2007 Outlook Forum, Room 4426 South Building, USDA, Washington, D.C. 20250-3812. Trends * Forecasts * Policies WASDE-441-8 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/ : 2004/05 : 2,043.92 2,401.98 241.22 1,993.59 408.39 2005/06 (Est.) : 2,012.41 2,420.81 250.31 2,025.32 395.48 2006/07 (Proj.) : November : 1,967.80 2,362.57 241.43 2,043.25 319.31 December : 1,973.93 2,369.42 242.75 2,045.94 323.47 Wheat : 2004/05 : 628.84 761.52 111.21 610.11 151.41 2005/06 (Est.) : 619.72 771.13 116.10 623.76 147.37 2006/07 (Proj.) : November : 586.81 733.87 109.11 615.05 118.83 December : 588.56 735.94 109.43 615.20 120.74 Coarse grains 4/ : 2004/05 : 1,014.59 1,154.57 101.64 975.73 178.84 2005/06 (Est.) : 977.20 1,156.04 106.41 988.34 167.70 2006/07 (Proj.) : November : 964.47 1,131.59 104.18 1,009.94 121.65 December : 968.99 1,136.68 105.15 1,012.55 124.14 Rice, milled : 2004/05 : 400.49 485.88 28.38 407.74 78.14 2005/06 (Est.) : 415.49 493.63 27.80 413.21 80.42 2006/07 (Proj.) : November : 416.52 497.10 28.14 418.26 78.84 December : 416.38 496.80 28.17 418.19 78.60 : : United States Total grains 3/ : 2004/05 : 385.62 434.59 83.91 275.97 74.71 2005/06 (Est.) : 363.13 442.66 91.28 279.62 71.76 2006/07 (Proj.) : November : 341.17 418.88 88.80 290.22 39.87 December : 341.17 418.88 88.38 290.35 40.14 Wheat : 2004/05 : 58.74 75.53 29.01 31.82 14.70 2005/06 (Est.) : 57.28 74.20 27.47 31.19 15.55 2006/07 (Proj.) : November : 49.32 67.72 25.17 31.16 11.38 December : 49.32 67.72 24.49 31.30 11.93 Coarse grains 4/ : 2004/05 : 319.42 350.42 51.41 240.22 58.80 2005/06 (Est.) : 298.74 359.59 60.13 244.62 54.84 2006/07 (Proj.) : November : 285.72 343.08 60.54 255.15 27.39 December : 285.72 343.08 60.65 255.15 27.28 Rice, milled : 2004/05 : 7.46 8.64 3.50 3.94 1.21 2005/06 (Est.) : 7.11 8.87 3.69 3.81 1.37 2006/07 (Proj.) : November : 6.14 8.08 3.08 3.91 1.09 December : 6.14 8.08 3.24 3.91 0.94 =============================================================================== 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-441-9 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/ : 2004/05 : 1,658.31 1,967.38 157.31 1,717.61 333.68 2005/06 (Est.) : 1,649.29 1,978.14 159.03 1,745.70 323.73 2006/07 (Proj.) : November : 1,626.63 1,943.69 152.63 1,753.04 279.45 December : 1,632.76 1,950.54 154.36 1,755.59 283.33 Wheat : 2004/05 : 570.11 685.99 82.20 578.29 136.71 2005/06 (Est.) : 562.44 696.93 88.63 592.57 131.83 2006/07 (Proj.) : November : 537.49 666.15 83.94 583.88 107.45 December : 539.25 668.22 84.94 583.90 108.81 Coarse grains 5/ : 2004/05 : 695.17 804.15 50.23 735.52 120.04 2005/06 (Est.) : 678.47 796.45 46.28 743.72 112.85 2006/07 (Proj.) : November : 678.75 788.51 43.64 754.80 94.26 December : 683.27 793.60 44.50 757.40 96.85 Rice, milled : 2004/05 : 393.02 477.24 24.88 403.80 76.93 2005/06 (Est.) : 408.38 484.76 24.11 409.41 79.05 2006/07 (Proj.) : November : 410.39 489.02 25.06 414.36 77.74 December : 410.24 488.72 24.93 414.29 77.67 =============================================================================== 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 2004/05 : 120.39 163.45 35.02 108.82 54.07 2005/06 (Est.) : 114.14 168.21 44.94 115.82 54.23 2006/07 (Proj.) : November : 115.72 169.53 41.55 120.88 51.05 December : 115.86 170.08 41.20 121.00 51.49 : United States 2004/05 : 23.25 26.73 14.44 6.69 5.50 2005/06 (Est.) : 23.89 29.41 18.04 5.89 6.05 2006/07 (Proj.) : November : 21.30 27.38 16.20 5.20 6.00 December : 21.30 27.38 16.00 5.10 6.30 : Foreign 3/ 2004/05 : 97.14 136.72 20.59 102.13 48.57 2005/06 (Est.) : 90.25 138.80 26.90 109.93 48.18 2006/07 (Proj.) : November : 94.42 142.16 25.35 115.68 45.05 December : 94.56 142.70 25.20 115.90 45.19 =============================================================================== 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-441-10 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 : 2004/05 : 381.29 425.14 74.56 302.09 56.38 2005/06 (Est.) : 388.33 444.71 76.62 317.32 61.65 2006/07 (Proj.) : November : 392.53 454.25 82.84 327.51 61.33 December : 395.50 457.15 82.93 329.50 62.33 Oilmeals : 2004/05 : 205.88 212.27 60.45 204.21 7.44 2005/06 (Est.) : 214.75 222.20 65.80 215.15 6.17 2006/07 (Proj.) : November : 223.36 230.94 67.18 223.84 6.47 December : 224.29 230.46 67.55 224.59 5.23 Vegetable Oils : 2004/05 : 111.23 119.57 42.33 108.42 9.69 2005/06 (Est.) : 117.78 127.47 46.04 115.41 9.69 2006/07 (Proj.) : November : 121.64 130.90 47.37 121.21 8.17 December : 123.71 133.39 48.33 122.07 9.43 : : United States Oilseeds : 2004/05 : 95.94 100.77 30.71 50.17 8.29 2005/06 (Est.) : 95.53 104.49 26.81 51.90 14.18 2006/07 (Proj.) : November : 97.03 112.00 32.12 52.84 16.66 December : 97.03 112.06 32.05 52.95 16.69 Oilmeals : 2004/05 : 39.27 41.07 6.96 33.90 0.22 2005/06 (Est.) : 39.99 41.87 7.65 33.87 0.35 2006/07 (Proj.) : November : 40.96 43.00 7.99 34.69 0.33 December : 41.09 43.11 7.99 34.80 0.33 Vegetable Oils : 2004/05 : 9.76 12.39 0.84 10.45 1.09 2005/06 (Est.) : 10.40 13.88 0.90 11.18 1.80 2006/07 (Proj.) : November : 10.26 14.42 0.86 12.00 1.56 December : 10.34 14.58 0.91 12.10 1.57 : : Foreign 3/ Oilseeds : 2004/05 : 285.35 324.37 43.85 251.93 48.09 2005/06 (Est.) : 292.80 340.23 49.81 265.42 47.47 2006/07 (Proj.) : November : 295.51 342.25 50.72 274.67 44.68 December : 298.47 345.09 50.89 276.55 45.64 Oilmeals : 2004/05 : 166.62 171.20 53.49 170.30 7.23 2005/06 (Est.) : 174.76 180.33 58.14 181.28 5.82 2006/07 (Proj.) : November : 182.41 187.94 59.19 189.16 6.15 December : 183.21 187.35 59.57 189.80 4.90 Vegetable Oils : 2004/05 : 101.47 107.19 41.49 97.97 8.60 2005/06 (Est.) : 107.38 113.59 45.14 104.23 7.89 2006/07 (Proj.) : November : 111.38 116.48 46.51 109.21 6.62 December : 113.37 118.82 47.43 109.98 7.86 =============================================================================== 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-441-11 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : November December =============================================================================== Area : Million acres Planted : 59.7 57.2 57.3 57.3 Harvested : 50.0 50.1 46.8 46.8 Yield per harvested : Bushels acre : 43.2 42.0 38.7 38.7 : Million bushels Beginning stocks : 546 540 571 571 Production : 2,158 2,105 1,812 1,812 Imports : 71 82 105 105 Supply, total : 2,775 2,727 2,488 2,488 Food : 910 915 920 925 Seed : 78 78 80 80 Feed and residual : 182 153 145 145 Domestic, total : 1,169 1,146 1,145 1,150 Exports : 1,066 1,009 925 900 Use, total : 2,235 2,155 2,070 2,050 Ending stocks : 540 571 418 438 CCC inventory : 54 43 35 35 Free stocks : 486 528 383 403 Outstanding loans : 58 42 15 15 Avg. farm price ($/bu) 2/ : 3.40 3.42 4.15- 4.55 4.15- 4.45 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 2005/06 (estimated) : Million bushels Beginning stocks : 193 159 88 62 38 540 Production : 930 467 309 298 101 2,105 Supply, total 3/ : 1,123 638 424 371 171 2,727 Domestic use : 478 225 241 118 84 1,146 Exports : 430 282 76 175 47 1,009 Use, total : 908 506 318 293 131 2,155 Ending stocks, total : 215 132 106 78 40 571 : 2006/07 (projected) : Beginning stocks : 215 132 106 78 40 571 Production : 682 432 390 254 53 1,812 Supply, total 3/ : 898 608 511 342 129 2,488 Domestic use : 465 230 279 97 79 1,150 Exports : 275 260 135 200 30 900 Use, total : 740 490 414 297 109 2,050 Ending stocks, total : December : 158 118 97 45 20 438 November : 125 121 97 55 20 418 =============================================================================== 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-441-12 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : November December =============================================================================== FEED GRAINS : Area : Million acres Planted : 97.0 96.3 92.5 92.5 Harvested : 86.0 85.9 80.9 80.9 Yield per harvested : Metric tons acre : 3.71 3.47 3.53 3.53 : Million metric tons Beginning stocks : 28.7 58.8 54.8 54.8 Production : 319.2 298.5 285.5 285.5 Imports : 2.1 1.9 2.4 2.4 Supply, total : 350.1 359.2 342.8 342.8 Feed and residual : 165.8 162.8 159.1 159.1 Food, seed & industrial : 74.1 81.5 95.8 95.8 Domestic, total : 239.9 244.3 254.8 254.8 Exports : 51.4 60.1 60.5 60.6 Use, total : 291.3 304.4 315.4 315.5 Ending stocks, total : 58.8 54.8 27.4 27.3 CCC inventory : 0.0 0.0 0.0 0.0 Free stocks : 58.8 54.8 27.4 27.3 Outstanding loans : 7.2 4.4 6.4 6.4 : CORN : Area : Million acres Planted : 80.9 81.8 78.6 78.6 Harvested : 73.6 75.1 71.0 71.0 Yield per harvested : Bushels acre : 160.4 147.9 151.2 151.2 : Million bushels Beginning stocks : 958 2,114 1,971 1,971 Production : 11,807 11,112 10,745 10,745 Imports : 11 9 10 10 Supply, total : 12,776 13,235 12,725 12,725 Feed and residual : 6,158 6,136 6,050 6,050 Food, seed & industrial : 2,686 2,981 3,540 3,540 Ethanol for fuel 2/ : 1,323 1,603 2,150 2,150 Domestic, total : 8,844 9,117 9,590 9,590 Exports : 1,818 2,147 2,200 2,200 Use, total : 10,662 11,264 11,790 11,790 Ending stocks, total : 2,114 1,971 935 935 CCC inventory : 1 0 0 0 Free stocks : 2,113 1,970 935 935 Outstanding loans : 280 171 250 250 Avg. farm price ($/bu) 3/ : 2.06 2.00 2.80- 3.20 2.90- 3.30 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a further breakout of FSI corn uses including ethanol, see the Feed Outlook table 5 or access the data on the Web through the Feed Grain Data Delivery System (http://www.ers.usda.gov/db/feedgrains/). 3/ Marketing-year weighted average price received by farmers. WASDE-441-13 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : November December =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 7.5 6.5 6.3 6.3 Area harv. (mil. acres) : 6.5 5.7 5.3 5.3 Yield (bushels/acre) : 69.6 68.7 54.2 54.2 Beginning stocks : 34 57 65 65 Production : 454 394 288 288 Imports : 0 0 0 0 Supply, total : 487 451 354 354 Feed and residual : 191 141 95 95 Food, seed & industrial : 55 50 55 55 Total domestic : 246 191 150 150 Exports : 184 195 165 165 Use, total : 430 386 315 315 Ending stocks, total : 57 65 39 39 Avg. farm price ($/bu) 2/ : 1.79 1.86 2.80- 3.20 2.90- 3.30 : BARLEY : Area planted (mil. acres) : 4.5 3.9 3.5 3.5 Area harv. (mil. acres) : 4.0 3.3 3.0 3.0 Yield (bushels/acre) : 69.6 64.8 61.0 61.0 Beginning stocks : 120 128 108 108 Production : 280 212 180 180 Imports : 12 5 15 15 Supply, total : 412 346 303 303 Feed and residual : 103 52 40 40 Food, seed & industrial : 157 158 155 155 Total domestic : 261 210 195 195 Exports : 23 28 20 25 Use, total : 284 238 215 220 Ending stocks, total : 128 108 88 83 Avg. farm price ($/bu) 2/ : 2.48 2.53 2.75- 3.05 2.75- 3.05 : OATS : Area planted (mil. acres) : 4.1 4.2 4.2 4.2 Area harv. (mil. acres) : 1.8 1.8 1.6 1.6 Yield (bushels/acre) : 64.7 63.0 59.5 59.5 Beginning stocks : 65 58 53 53 Production : 116 115 94 94 Imports : 90 91 105 105 Supply, total : 271 264 251 251 Feed and residual : 136 135 125 125 Food, seed & industrial : 74 74 75 75 Total domestic : 210 209 200 200 Exports : 3 2 2 2 Use, total : 213 211 202 202 Ending stocks, total : 58 53 49 49 Avg. farm price ($/bu) 2/ : 1.48 1.63 1.75- 1.95 1.75- 1.95 =============================================================================== 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-441-14 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : November December =============================================================================== TOTAL : Area : Million acres Planted : 3.35 3.38 2.84 2.84 Harvested : 3.32 3.36 2.82 2.82 Yield per harvested : Pounds acre : 6,988 6,636 6,847 6,847 : : Million hundredweight : Beginning stocks 2/ : 23.7 37.7 43.0 43.0 Production : 232.4 223.2 193.3 193.3 Imports : 13.2 17.1 18.0 18.0 Supply, total : 269.2 278.1 254.3 254.3 Domestic & residual 3/ : 122.7 119.3 122.8 122.8 Exports, total 4/ : 108.8 115.8 97.0 102.0 Rough : 33.9 34.1 35.0 38.0 Milled (rough equiv.) : 75.0 81.6 62.0 64.0 Use, total : 231.5 235.1 219.8 224.8 Ending stocks : 37.7 43.0 34.5 29.5 Avg. milling yield (%) 5/ : 70.8 70.2 70.0 70.0 Avg. farm price ($/cwt) 6/ : 7.33 7.62 9.00- 9.50 9.55- 9.95 : LONG GRAIN : Harvested acres (mil.) : 2.57 2.73 Yield (pounds/acre) : 6,630 6,493 Beginning stocks : 10.3 22.7 32.7 32.7 Production : 170.4 177.5 143.7 143.7 Supply, total 7/ : 191.3 212.5 189.3 189.3 Domestic & Residual 3/ : 84.7 86.9 89.8 89.8 Exports 8/ : 83.8 93.0 75.0 79.0 Use, total : 168.5 179.9 164.8 168.8 Ending stocks : 22.7 32.7 24.6 20.6 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.75 0.63 Yield (pounds/acre) : 8,212 7,255 Beginning stocks : 12.4 13.8 9.4 9.4 Production : 61.9 45.7 49.6 49.6 Supply, total 7/ : 76.8 64.7 64.1 64.1 Domestic & Residual 3/ : 38.0 32.5 33.1 33.1 Exports 8/ : 25.0 22.8 22.0 23.0 Use, total : 63.0 55.2 55.1 56.1 Ending stocks : 13.8 9.4 9.0 8.0 =============================================================================== 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): 2004/05-1.0; 2005/06-1.1; 2006/07-0.9. 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-441-15 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :=============================== : : Est. : November December =============================================================================== SOYBEANS: : Million acres Area : Planted : 75.2 72.0 75.6 75.6 Harvested : 74.0 71.3 74.5 74.5 : : Bushels Yield per harvested : acre : 42.2 43.0 43.0 43.0 : : Million bushels : Beginning stocks : 112 256 449 449 Production : 3,124 3,063 3,204 3,204 Imports : 6 3 4 4 Supply, total : 3,242 3,322 3,657 3,657 Crushings : 1,696 1,739 1,780 1,780 Exports : 1,097 947 1,145 1,145 Seed : 88 93 91 91 Residual : 104 95 75 75 Use, total : 2,986 2,874 3,091 3,091 Ending stocks : 256 449 565 565 Avg. farm price ($/bu) 2/ : 5.74 5.66 5.40- 6.40 5.70 - 6.50 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,076 1,699 2,968 3,019 Production : 19,360 20,393 20,115 20,205 Imports : 26 35 55 55 Supply, total : 20,462 22,127 23,138 23,279 Domestic : 17,439 17,955 19,200 19,200 Exports : 1,324 1,153 1,250 1,350 Use, total : 18,763 19,108 20,450 20,550 Ending stocks : 1,699 3,019 2,688 2,729 Average price (c/lb) 2/ : 23.01 23.41 24.00- 26.00- : 28.00 29.00 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 211 172 320 314 Production : 40,715 41,242 42,415 42,421 Imports : 147 141 165 165 Supply, total : 41,073 41,555 42,900 42,900 Domestic : 33,561 33,176 34,100 34,100 Exports : 7,340 8,064 8,500 8,500 Use, total : 40,901 41,241 42,600 42,600 Ending stocks : 172 314 300 300 Average price ($/s.t.) 2/ : 182.89 174.17 165.00- 165.00- : 190.00 190.00 =============================================================================== 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. WASDE-441-16 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 2006/07 Projection Item : 2004/05 : 2005/06 :====================== : : Estimate : November December ====================================================================== : 1,000 short tons, raw value : Beginning stocks : 1,897 1,332 1,761 1,698 Production 2/ : 7,877 7,399 8,518 8,695 Beet sugar : 4,611 4,444 4,901 5,092 Cane sugar : 3,266 2,955 3,617 3,603 Florida : 1,693 1,367 1,736 1,736 Hawaii : 258 223 263 249 Louisiana : 1,157 1,190 1,420 1,420 Texas : 158 175 198 198 Imports : 2,100 3,443 2,206 2,203 TRQ 3/ : 1,408 2,588 1,821 1,818 Other program 4/ : 500 349 325 325 Other 5/ : 192 506 60 60 Supply, total : 11,874 12,174 12,485 12,596 : Exports : 259 203 200 200 Deliveries : 10,188 10,341 10,415 10,415 Food : 10,019 10,184 10,250 10,250 Other 6/ : 169 157 165 165 Miscellaneous 7/ : 95 -68 0 0 Use, total : 10,542 10,476 10,615 10,615 Ending stocks : 1,332 1,698 1,870 1,981 : Stocks to use ratio : 12.6 16.2 17.6 18.7 ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. Historical data are from FSA, "Sweetener Market Data" (SMD) except imports (U.S. Customs Service, Census Bureau). 2/ Projections for 2006/07 are based on processors' submissions compiled by the Farm Service Agency. 3/ 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. For 2006/07, includes shortfall of 75,000 tons. 4/ Includes sugar under the re-export and polyhydric alcohol programs. 5/ For 2005/06, high-tier (450) and other (56). For 2006/07, high-tier (50) and other (10). 6/ Transfers to sugar- containing products for reexport, and for nonedible alcohol and feed. 7/ Includes SMD miscellaneous uses and the difference between SMD imports and WASDE imports. WASDE-441-17 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :=============================== : : Est. : November December =============================================================================== : Million acres Area : Planted : 13.66 14.25 15.28 15.28 Harvested : 13.06 13.80 12.82 12.82 : : Pounds Yield per harvested : acre : 855 831 798 798 : : Million 480 pound bales : Beginning stocks 2/ : 3.45 5.50 6.05 6.05 Production : 23.25 23.89 21.30 21.30 Imports : 0.03 0.03 0.03 0.03 Supply, total : 26.73 29.41 27.38 27.38 Domestic use : 6.69 5.89 5.20 5.10 Exports : 14.44 18.04 16.20 16.00 Use, total : 21.13 23.92 21.40 21.10 Unaccounted 3/ : 0.11 -0.56 -0.02 -0.02 Ending stocks : 5.50 6.05 6.00 6.30 : Avg. farm price 4/ : 41.6 47.7 46.0 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 price for August-October 2006. 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 2006/07 is 30.5 percent. WASDE-441-18 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2004/05 : World 3/ : 132.68 628.84 109.90 106.56 610.11 111.20 151.41 United States : 14.87 58.74 1.92 4.96 31.82 29.01 14.70 Total foreign : 117.81 570.11 107.98 101.61 578.29 82.20 136.71 Major exporters 4/ : 23.44 201.23 7.72 65.37 135.71 55.91 40.77 Argentina : 1.40 16.00 0.00 0.08 5.01 11.83 0.55 Australia : 5.36 22.60 0.08 3.50 6.20 14.74 7.09 Canada : 6.08 25.86 0.25 5.08 9.30 14.97 7.92 EU-25 5/ : 10.60 136.77 7.39 56.70 115.20 14.37 25.20 Major importers 6/ : 62.69 156.40 60.59 8.29 214.37 3.40 61.91 Brazil : 0.51 5.84 5.21 0.30 10.20 0.02 1.35 China : 43.29 91.95 6.75 4.00 102.00 1.17 38.82 Select. Mideast 7/ : 5.56 18.66 9.60 1.95 28.26 0.60 4.96 N. Africa 8/ : 7.47 17.17 18.41 0.30 32.61 0.21 10.22 Pakistan : 1.38 19.50 1.42 0.40 20.00 0.05 2.25 Southeast Asia 9/ : 2.03 0.00 9.75 0.91 9.30 0.43 2.05 Selected other : India : 6.90 72.15 0.01 0.50 72.84 2.12 4.10 FSU-12 : 10.99 86.83 4.55 20.80 72.93 15.19 14.25 Russia : 2.64 45.40 1.20 13.60 37.40 7.95 3.89 Kazakhstan : 3.78 9.95 0.02 2.70 7.40 2.70 3.64 Ukraine : 1.13 17.50 0.03 2.10 11.70 4.35 2.61 : : 2005/06 (Estimated) : World 3/ : 151.41 619.72 110.24 111.16 623.76 116.10 147.37 United States : 14.70 57.28 2.22 4.17 31.19 27.47 15.54 Total foreign : 136.71 562.44 108.02 106.99 592.57 88.63 131.83 Major exporters 4/ : 40.77 187.71 7.97 69.26 140.03 55.94 40.48 Argentina : 0.55 13.80 0.01 0.08 5.00 8.80 0.56 Australia : 7.09 24.50 0.08 3.70 6.40 16.01 9.26 Canada : 7.92 26.78 0.28 4.98 9.13 16.10 9.74 EU-25 5/ : 25.20 122.64 7.61 60.50 119.50 15.03 20.92 Major importers 6/ : 61.91 162.22 58.53 8.30 218.86 4.40 59.40 Brazil : 1.35 4.87 6.72 0.60 10.80 0.81 1.33 China : 38.82 97.45 1.02 3.50 101.00 1.40 34.89 Select. Mideast 7/ : 4.96 19.32 12.06 1.85 29.67 0.60 6.06 N. Africa 8/ : 10.22 15.18 18.44 0.30 33.79 0.22 9.84 Pakistan : 2.25 21.50 0.95 0.40 21.50 0.05 3.15 Southeast Asia 9/ : 2.05 0.00 10.32 1.23 10.01 0.38 1.99 Selected other : India : 4.10 68.64 0.03 0.30 69.97 0.80 2.00 FSU-12 : 14.25 92.20 4.68 23.00 75.24 20.31 15.57 Russia : 3.89 47.70 1.28 14.90 38.40 10.66 3.81 Kazakhstan : 3.64 11.00 0.04 2.70 7.40 3.00 4.28 Ukraine : 2.61 18.70 0.07 2.90 12.50 6.46 2.41 =============================================================================== 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-25. 5/ Trade excludes intra-trade. 6/ Brazil, China, Japan, Mexico, N. Africa, Pakistan, selected Middle East, and Southeast Asia. 7/ Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and Oman. 8/ Algeria, Egypt, Libya, Morocco, and Tunisia. 9/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-441-19 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: =============================================================================== : : 2006/07 (Projected) World 3/ : November : 147.07 586.81 110.18 104.18 615.05 109.11 118.83 December : 147.37 588.56 110.38 104.28 615.20 109.43 120.74 United States : November : 15.54 49.32 2.86 3.95 31.16 25.17 11.38 December : 15.54 49.32 2.86 3.95 31.30 24.49 11.93 Total foreign : November : 131.52 537.49 107.32 100.23 583.88 83.94 107.45 December : 131.83 539.25 107.52 100.33 583.90 84.94 108.81 Major exporters 4/ : November : 40.29 167.29 7.13 65.98 136.90 55.50 22.31 December : 40.48 169.24 7.13 66.08 137.00 56.50 23.35 Argentina Nov : 0.36 13.25 0.01 0.08 4.90 8.50 0.22 Dec : 0.56 14.20 0.01 0.08 4.90 9.50 0.37 Australia Nov : 9.27 10.50 0.08 4.20 6.90 10.50 2.44 Dec : 9.26 10.50 0.08 4.20 6.90 10.50 2.43 Canada Nov : 9.74 26.30 0.25 4.70 9.10 20.50 6.69 Dec : 9.74 27.30 0.25 4.80 9.20 20.50 7.59 EU-25 5/ Nov : 20.92 117.24 6.80 57.00 116.00 16.00 12.95 Dec : 20.92 117.24 6.80 57.00 116.00 16.00 12.95 Major importers 6/ : November : 59.40 168.79 54.62 7.83 220.24 5.17 57.41 December : 59.40 168.54 54.82 7.83 220.09 5.17 57.51 Brazil Nov : 1.12 2.50 7.30 0.10 10.40 0.03 0.49 Dec : 1.33 2.25 7.50 0.10 10.40 0.03 0.66 China Nov : 34.89 103.50 0.70 4.00 101.00 2.50 35.59 Dec : 34.89 103.50 0.70 4.00 101.00 2.50 35.59 Sel. Mideast 7/Nov : 6.06 18.80 10.48 1.50 29.53 0.60 5.20 Dec : 6.06 18.80 10.48 1.50 29.53 0.60 5.20 N. Africa 8/ Nov : 10.02 18.32 16.40 0.30 35.13 0.22 9.41 Dec : 9.84 18.32 16.40 0.30 34.98 0.22 9.37 Pakistan Nov : 3.15 21.70 0.60 0.40 22.00 0.50 2.95 Dec : 3.15 21.70 0.60 0.40 22.00 0.50 2.95 SE Asia 9/ Nov : 2.01 0.00 10.05 1.12 10.02 0.41 1.63 Dec : 1.99 0.00 10.05 1.12 10.02 0.41 1.61 Selected other : India Nov : 2.00 68.00 6.00 0.30 72.50 0.50 3.00 Dec : 2.00 68.00 6.00 0.30 72.50 0.50 3.00 FSU-12 Nov : 15.56 82.68 4.04 20.30 72.45 17.16 12.68 Dec : 15.57 82.68 4.04 20.30 72.45 17.16 12.69 Russia Nov : 3.81 43.50 1.20 13.70 36.90 8.50 3.11 Dec : 3.81 43.50 1.20 13.70 36.90 8.50 3.11 Kazakhstan Nov : 4.28 11.50 0.02 2.70 7.60 5.00 3.20 Dec : 4.28 11.50 0.02 2.70 7.60 5.00 3.20 Ukraine Nov : 2.41 14.30 0.10 1.80 11.20 3.50 2.11 Dec : 2.41 14.30 0.10 1.80 11.20 3.50 2.11 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and the EU-25. 5/ Trade excludes intra-trade. 6/ Brazil, China, Japan, Mexico, N. Africa, Pakistan, selected Middle East, and Southeast Asia. 7/ Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and Oman. 8/ Algeria, Egypt, Libya, Morocco, and Tunisia. 9/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-441-20 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: =============================================================================== : : 2004/05 : World 3/ : 139.98 1014.59 101.21 641.27 975.74 101.64 178.84 United States : 28.76 319.42 2.24 165.87 240.22 51.40 58.80 Total foreign : 111.22 695.18 98.97 475.40 735.52 50.23 120.04 Major exporters 4/ : 10.52 75.13 3.03 36.62 50.04 24.89 13.75 Argentina : 1.00 24.90 0.01 6.60 9.06 15.24 1.61 Australia : 2.25 11.57 0.00 5.60 6.88 4.62 2.32 Canada : 4.08 26.45 2.47 19.21 23.80 2.85 6.34 Major importers 5/ : 32.90 225.58 76.28 214.16 283.31 4.61 46.83 EU-25 6/ : 12.62 150.75 3.68 106.54 138.82 4.01 24.23 Japan : 1.85 0.20 19.71 15.05 19.88 0.00 1.88 Mexico : 5.77 28.95 8.98 22.12 38.28 0.03 5.40 N. Afr & Mideast 7/: 6.16 28.34 20.29 39.01 46.07 0.06 8.66 Saudi Arabia : 2.43 0.20 6.91 6.65 6.84 0.00 2.71 Southeast Asia 8/ : 1.62 16.73 3.24 13.37 19.38 0.52 1.68 South Korea : 1.34 0.34 8.71 6.66 9.01 0.00 1.38 Selected other : China : 45.48 138.25 2.07 100.21 141.17 7.62 37.02 Other Europe : 1.70 29.05 0.66 19.83 24.96 2.31 4.14 FSU-12 : 5.96 62.94 1.06 38.09 54.62 8.10 7.26 Russia : 2.92 29.60 0.68 19.00 29.40 1.13 2.67 Ukraine : 1.62 23.00 0.02 11.35 15.20 6.77 2.67 : : 2005/06 (Estimated) : World 3/ : 178.84 977.20 104.20 634.57 988.34 106.41 167.70 United States : 58.80 298.74 2.06 162.88 244.62 60.12 54.84 Total foreign : 120.04 678.47 102.15 471.69 743.72 46.28 112.85 Major exporters 4/ : 13.75 66.33 3.12 36.84 49.99 20.52 12.69 Argentina : 1.61 19.22 0.00 6.86 9.42 10.00 1.41 Australia : 2.32 13.76 0.00 5.86 7.14 5.67 3.27 Canada : 6.34 26.04 1.99 19.51 23.96 4.08 6.33 Major importers 5/ : 46.83 201.80 77.89 209.83 278.76 5.13 42.64 EU-25 6/ : 24.23 131.47 3.55 100.50 132.65 3.82 22.78 Japan : 1.88 0.19 19.77 15.16 19.99 0.00 1.84 Mexico : 5.40 25.83 9.94 21.20 37.60 0.25 3.31 N. Afr & Mideast 7/: 8.66 26.54 18.70 38.89 45.76 0.87 7.26 Saudi Arabia : 2.71 0.20 8.40 7.93 8.11 0.00 3.20 Southeast Asia 8/ : 1.68 17.18 4.37 15.02 20.88 0.19 2.16 South Korea : 1.38 0.33 8.55 6.56 8.91 0.00 1.35 Selected other : China : 37.02 147.70 2.31 103.12 147.46 3.76 35.81 Other Europe : 4.14 26.80 0.79 19.42 25.01 2.38 4.34 FSU-12 : 7.26 55.08 1.14 33.51 49.48 8.45 5.55 Russia : 2.67 27.60 0.60 17.65 27.70 1.78 1.39 Ukraine : 2.67 18.14 0.09 8.45 11.99 6.50 2.42 =============================================================================== 1/ Aggregate of local marketing years. Coarse grains include corn, sorghum, barley, oats, rye, millet, and mixed grains (for U.S. excludes millet and mixed grains). 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/ The EU-25, Mexico, Japan, selected North Africa and Middle East, South Korea, Southeast Asia, and Taiwan. 6/ Trade excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya, Morocco, Syria, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-441-21 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: =============================================================================== : : 2006/07 (Projected) World 3/ : November : 167.12 964.47 102.18 638.22 1009.94 104.18 121.65 December : 167.70 968.99 101.98 639.69 1012.55 105.14 124.14 United States : November : 54.84 285.72 2.52 159.13 255.15 60.54 27.39 December : 54.84 285.72 2.52 159.13 255.15 60.65 27.28 Total foreign : November : 112.28 678.75 99.66 479.09 754.80 43.64 94.26 December : 112.85 683.27 99.46 480.56 757.40 44.50 96.85 Major exporters 4/ : November : 12.95 62.58 3.40 37.48 51.55 19.34 8.04 December : 12.69 65.21 3.00 38.03 52.02 19.42 9.45 Argentina Nov : 1.43 21.57 0.00 7.11 9.67 11.96 1.38 Dec : 1.41 23.40 0.00 7.91 10.57 12.56 1.68 Australia Nov : 3.77 7.76 0.00 5.99 7.22 2.94 1.37 Dec : 3.27 7.76 0.00 5.99 7.22 2.54 1.27 Canada Nov : 6.33 23.26 2.87 19.52 24.74 3.52 4.20 Dec : 6.33 23.52 2.37 19.37 24.58 3.55 4.09 Major importers 5/ : November : 42.44 202.03 76.68 212.48 282.26 4.68 34.20 December : 42.64 202.09 76.87 212.99 282.71 4.23 34.66 EU-25 6/ Nov : 22.78 127.16 3.67 101.35 133.78 4.16 15.68 Dec : 22.78 127.22 4.27 102.05 134.48 3.70 16.09 Japan Nov : 1.83 0.17 19.52 14.99 19.92 0.00 1.60 Dec : 1.84 0.17 19.50 14.96 19.90 0.00 1.61 Mexico Nov : 3.11 29.13 9.30 21.98 38.48 0.00 3.06 Dec : 3.31 29.13 9.10 21.78 38.28 0.00 3.26 N Afr/M.East 7/Nov : 7.34 28.03 19.35 39.99 47.36 0.30 7.06 Dec : 7.26 28.03 18.93 39.74 47.09 0.30 6.84 Saudi Arabia Nov : 3.10 0.20 7.50 7.83 8.01 0.00 2.79 Dec : 3.20 0.20 7.50 7.83 8.01 0.00 2.89 S.-east Asia 8/Nov : 2.16 16.93 4.06 15.27 20.93 0.23 1.99 Dec : 2.16 16.93 4.06 15.27 20.93 0.23 1.99 South Korea Nov : 1.35 0.33 8.63 6.56 8.99 0.00 1.32 Dec : 1.35 0.33 8.86 6.84 9.23 0.00 1.32 Selected other : China Nov : 35.80 151.26 2.34 105.12 151.43 4.03 33.94 Dec : 35.81 151.44 2.34 105.17 151.58 4.03 33.98 Other Europe Nov : 4.30 24.13 0.64 18.73 24.19 2.46 2.42 Dec : 4.34 23.77 0.65 18.59 24.05 2.38 2.32 FSU-12 Nov : 5.55 58.45 0.98 35.26 50.55 9.38 5.05 Dec : 5.55 59.45 0.98 35.66 50.95 9.68 5.34 Russia Nov : 1.39 30.20 0.65 18.30 28.15 2.50 1.59 Dec : 1.39 30.70 0.65 18.50 28.35 2.60 1.79 Ukraine Nov : 2.42 19.45 0.07 10.05 13.30 6.50 2.14 Dec : 2.42 19.95 0.07 10.25 13.50 6.70 2.24 =============================================================================== 1/ Aggregate of local marketing years. Coarse grains include corn, sorghum, barley, oats, rye, millet, and mixed grains (for U.S. excludes millet and mixed grains). 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/ The EU-25, Mexico, Japan, selected North Africa and Middle East, South Korea, Southeast Asia, and Taiwan. 6/ Trade excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya, Morocco, Syria, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-441-22 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2004/05 : World 3/ : 103.51 712.78 77.10 471.48 684.97 78.18 131.32 United States : 24.34 299.91 0.28 156.43 224.65 46.18 53.70 Total foreign : 79.18 412.87 76.83 315.05 460.32 32.00 77.62 Major exporters 4/ : 3.18 32.22 0.37 8.50 14.90 16.72 4.15 Argentina : 0.22 20.50 0.01 3.50 5.20 14.57 0.96 South Africa : 2.96 11.72 0.36 5.00 9.70 2.14 3.19 Major importers 5/ : 12.97 98.03 47.22 100.52 140.09 0.70 17.42 Egypt : 0.48 5.84 5.40 9.50 11.30 0.00 0.42 EU-25 6/ : 2.94 53.48 2.97 42.00 51.70 0.16 7.52 Japan : 1.04 0.00 16.48 12.00 16.50 0.00 1.02 Mexico : 4.46 22.05 5.94 12.60 27.90 0.03 4.53 Southeast Asia 7/ : 1.61 16.53 3.23 13.20 19.20 0.51 1.66 South Korea : 1.34 0.08 8.63 6.62 8.67 0.00 1.38 Selected other : Brazil : 7.88 35.00 0.50 32.10 38.50 0.68 4.19 Canada : 1.14 8.84 2.37 7.91 10.31 0.24 1.80 China : 44.85 130.29 0.00 98.00 131.00 7.59 36.56 Other Europe : 1.18 23.70 0.43 16.58 20.17 1.72 3.40 FSU-12 : 1.36 15.38 0.55 11.01 12.71 2.42 2.16 Ukraine : 0.84 8.80 0.01 5.30 6.00 2.33 1.32 : : 2005/06 (Estimated) : World 3/ : 131.32 695.22 79.08 474.63 700.92 80.01 125.62 United States : 53.70 282.26 0.23 155.85 231.58 54.54 50.06 Total foreign : 77.62 412.96 78.86 318.78 469.34 25.46 75.57 Major exporters 4/ : 4.15 22.74 1.00 8.80 15.10 10.25 2.53 Argentina : 0.96 15.80 0.00 4.40 6.20 9.50 1.06 South Africa : 3.19 6.94 1.00 4.40 8.90 0.75 1.48 Major importers 5/ : 17.42 90.76 48.31 98.11 137.55 0.54 18.40 Egypt : 0.42 5.86 4.40 8.40 10.20 0.00 0.47 EU-25 6/ : 7.52 48.32 3.20 39.40 48.90 0.13 10.01 Japan : 1.02 0.00 16.62 12.10 16.60 0.00 1.04 Mexico : 4.53 19.50 6.79 12.40 27.90 0.25 2.67 Southeast Asia 7/ : 1.66 16.98 4.36 14.85 20.70 0.17 2.13 South Korea : 1.38 0.06 8.48 6.51 8.58 0.00 1.35 Selected other : Brazil : 4.19 41.70 1.00 32.50 39.00 3.50 4.39 Canada : 1.80 9.46 1.93 8.71 10.94 0.25 2.00 China : 36.56 139.36 0.06 101.00 137.00 3.73 35.26 Other Europe : 3.40 22.18 0.48 16.33 20.44 1.94 3.69 FSU-12 : 2.16 13.12 0.61 10.12 11.76 2.54 1.61 Ukraine : 1.32 7.15 0.01 4.40 5.10 2.46 0.92 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina and South Africa. 5/ Egypt, the EU-25, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-441-23 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: =============================================================================== : : 2006/07 (Projected) World 3/ : November : 124.55 688.73 78.41 476.29 723.27 80.81 90.00 December : 125.62 692.89 78.91 478.16 725.77 82.03 92.74 United States : November : 50.06 272.93 0.25 153.68 243.60 55.88 23.76 December : 50.06 272.93 0.25 153.68 243.60 55.88 23.76 Total foreign : November : 74.49 415.80 78.16 322.61 479.67 24.92 66.24 December : 75.57 419.96 78.66 324.49 482.17 26.15 68.98 Major exporters 4/ : November : 2.25 27.00 0.40 8.90 15.40 12.40 1.85 December : 2.53 29.00 0.50 9.60 16.00 12.75 3.28 Argentina Nov : 1.06 17.50 0.00 4.30 6.10 11.50 0.96 Dec : 1.06 19.00 0.00 5.10 7.00 12.00 1.06 South Africa Nov : 1.19 9.50 0.40 4.60 9.30 0.90 0.89 Dec : 1.48 10.00 0.50 4.50 9.00 0.75 2.22 Major importers 5/ : November : 18.27 89.04 47.65 98.80 138.78 0.70 15.49 December : 18.40 89.10 48.45 99.60 139.58 0.35 16.03 Egypt Nov : 0.48 5.87 4.80 8.60 10.60 0.00 0.55 Dec : 0.47 5.87 4.80 8.60 10.60 0.00 0.54 EU-25 6/ Nov : 10.01 44.32 3.00 39.50 49.30 0.50 7.54 Dec : 10.01 44.38 3.50 40.00 49.80 0.15 7.95 Japan Nov : 1.04 0.00 16.50 12.00 16.60 0.00 0.95 Dec : 1.04 0.00 16.50 12.00 16.60 0.00 0.95 Mexico Nov : 2.49 22.00 6.30 12.70 28.30 0.00 2.49 Dec : 2.67 22.00 6.30 12.70 28.30 0.00 2.67 S.-east Asia 7/Nov : 2.14 16.73 4.05 15.10 20.75 0.20 1.97 Dec : 2.13 16.73 4.05 15.10 20.75 0.20 1.96 South Korea Nov : 1.35 0.07 8.50 6.50 8.60 0.00 1.32 Dec : 1.35 0.07 8.80 6.80 8.90 0.00 1.32 Selected other : Brazil Nov : 3.69 41.00 0.75 33.50 40.00 2.00 3.44 Dec : 4.39 42.00 0.75 33.50 40.00 3.00 4.14 Canada Nov : 2.00 8.80 2.80 8.80 11.80 0.20 1.60 Dec : 2.00 9.30 2.30 8.80 11.80 0.20 1.60 China Nov : 35.26 143.00 0.10 103.00 141.00 4.00 33.35 Dec : 35.26 143.00 0.10 103.00 141.00 4.00 33.35 Other Europe Nov : 3.65 20.01 0.31 15.85 19.84 2.20 1.93 Dec : 3.69 19.61 0.31 15.68 19.66 2.12 1.82 FSU-12 Nov : 1.61 11.92 0.50 9.59 10.98 1.82 1.23 Dec : 1.61 12.92 0.50 9.99 11.38 2.12 1.53 Ukraine Nov : 0.92 6.00 0.00 4.00 4.50 1.80 0.62 Dec : 0.92 6.50 0.00 4.20 4.70 2.00 0.72 =============================================================================== 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/ Egypt, the EU-25, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-441-24 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 : =============================================================================== : : 2004/05 World 3/ : 85.39 400.49 26.30 407.74 28.38 78.14 United States : 0.76 7.46 0.42 3.94 3.50 1.21 Total foreign : 84.63 393.02 25.89 403.80 24.88 76.93 Major exporters 4/ : 17.44 128.13 0.32 110.77 19.94 15.18 India : 10.80 83.13 0.00 80.74 4.69 8.50 Pakistan : 0.64 4.92 0.00 2.55 2.80 0.20 Thailand : 1.71 17.36 0.00 9.48 7.27 2.31 Vietnam : 4.30 22.72 0.32 18.00 5.17 4.16 Major importers 5/ : 12.56 60.22 9.25 68.52 0.59 12.92 Brazil : 1.34 9.00 0.55 8.86 0.30 1.73 EU-25 6/ : 0.97 1.86 1.00 2.53 0.18 1.13 Indonesia : 4.02 34.83 0.50 35.85 0.05 3.45 Nigeria : 1.00 2.30 1.37 4.25 0.00 0.42 Philippines : 4.05 9.43 1.50 10.40 0.00 4.57 Sel. Mideast 7/ : 0.99 2.31 3.27 5.05 0.06 1.46 Selected other : Burma : 1.63 9.57 0.00 10.30 0.19 0.71 C. Amer & Carib 8/ : 0.11 0.07 0.42 0.48 0.00 0.13 China : 43.92 125.36 0.61 130.30 0.66 38.93 Egypt : 0.72 4.13 0.00 3.25 1.10 0.50 Japan : 1.70 7.94 0.78 8.30 0.20 1.92 Mexico : 0.18 0.20 0.55 0.75 0.00 0.17 South Korea : 0.85 5.00 0.19 4.86 0.27 0.91 : : 2005/06 (Estimated) World 3/ : 78.14 415.49 26.27 413.22 27.80 80.42 United States : 1.21 7.11 0.54 3.81 3.69 1.37 Total foreign : 76.93 408.38 25.72 409.41 24.11 79.05 Major exporters 4/ : 15.18 136.79 0.40 115.52 18.80 18.04 India : 8.50 91.04 0.00 85.22 3.80 10.52 Pakistan : 0.20 5.55 0.00 2.56 2.90 0.30 Thailand : 2.31 18.20 0.05 9.50 7.30 3.76 Vietnam : 4.16 22.00 0.35 18.25 4.80 3.46 Major importers 5/ : 12.92 59.91 10.67 69.66 0.49 13.36 Brazil : 1.73 7.87 0.60 8.97 0.25 0.98 EU-25 6/ : 1.13 1.71 0.93 2.55 0.18 1.04 Indonesia : 3.45 34.96 0.60 35.80 0.00 3.21 Nigeria : 0.42 2.70 1.78 4.35 0.00 0.55 Philippines : 4.57 9.82 1.90 11.00 0.00 5.29 Sel. Mideast 7/ : 1.46 2.38 3.76 5.39 0.06 2.14 Selected other : Burma : 0.71 10.44 0.00 10.40 0.08 0.67 C. Amer & Carib 8/ : 0.13 0.07 0.45 0.49 0.00 0.15 China : 38.93 126.41 0.70 128.00 1.10 36.94 Egypt : 0.50 4.13 0.00 3.28 1.00 0.36 Japan : 1.92 8.26 0.70 8.25 0.20 2.43 Mexico : 0.17 0.18 0.60 0.78 0.00 0.18 South Korea : 0.91 4.77 0.40 4.85 0.13 1.10 =============================================================================== 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 some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, and the EU-25. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries. WASDE-441-25 World Rice Supply and Use (Milled Basis) 1/ (Cont'd.) (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total 2/: : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2006/07 (Projected) World 3/ : November : 80.58 416.52 26.16 418.26 28.14 78.84 December : 80.42 416.38 26.26 418.19 28.17 78.60 United States : November : 1.37 6.14 0.57 3.90 3.08 1.09 December : 1.37 6.14 0.57 3.90 3.24 0.94 Total foreign : November : 79.21 410.39 25.59 414.36 25.06 77.74 December : 79.05 410.24 25.69 414.29 24.93 77.67 Major exporters 4/ : November : 17.84 137.39 0.40 118.13 20.15 17.35 December : 18.04 137.39 0.40 118.13 20.15 17.55 India Nov : 10.52 91.00 0.00 87.50 4.30 9.72 Dec : 10.52 91.00 0.00 87.50 4.30 9.72 Pakistan Nov : 0.30 5.60 0.00 2.56 2.90 0.44 Dec : 0.30 5.60 0.00 2.56 2.90 0.44 Thailand Nov : 3.76 18.25 0.10 9.57 8.25 4.29 Dec : 3.76 18.25 0.10 9.57 8.25 4.29 Vietnam Nov : 3.26 22.54 0.30 18.50 4.70 2.90 Dec : 3.46 22.54 0.30 18.50 4.70 3.10 Major importers 5/ : November : 13.64 60.11 9.84 70.14 0.33 13.12 December : 13.36 60.16 9.94 70.14 0.33 12.99 Brazil Nov : 0.98 7.90 0.75 8.95 0.13 0.55 Dec : 0.98 7.70 0.85 8.95 0.13 0.45 EU-25 6/ Nov : 1.04 1.66 0.93 2.60 0.15 0.88 Dec : 1.04 1.66 0.93 2.60 0.15 0.88 Indonesia Nov : 3.51 35.09 0.60 35.80 0.00 3.40 Dec : 3.21 35.09 0.60 35.80 0.00 3.10 Nigeria Nov : 0.55 2.80 1.60 4.45 0.00 0.50 Dec : 0.55 2.80 1.60 4.45 0.00 0.50 Philippines Nov : 5.27 9.75 1.75 11.25 0.00 5.52 Dec : 5.29 10.00 1.75 11.25 0.00 5.79 Sel. Mideast 7/Nov : 2.14 2.44 3.10 5.49 0.05 2.14 Dec : 2.14 2.44 3.10 5.49 0.05 2.14 Selected other : Burma Nov : 0.67 10.50 0.00 10.50 0.15 0.52 Dec : 0.67 10.50 0.00 10.50 0.15 0.52 C. Am & Car. 8/Nov : 0.15 0.07 0.45 0.50 0.00 0.17 Dec : 0.15 0.07 0.45 0.50 0.00 0.17 China Nov : 36.94 128.00 0.80 127.80 1.00 36.94 Dec : 36.94 128.00 0.80 127.80 1.00 36.94 Egypt Nov : 0.36 4.14 0.00 3.30 0.90 0.30 Dec : 0.36 4.14 0.00 3.30 0.90 0.30 Japan Nov : 2.43 7.94 0.65 8.20 0.20 2.62 Dec : 2.43 7.94 0.65 8.20 0.20 2.62 Mexico Nov : 0.18 0.18 0.60 0.80 0.00 0.16 Dec : 0.18 0.18 0.60 0.80 0.00 0.16 South Korea Nov : 1.10 4.64 0.27 4.84 0.10 1.06 Dec : 1.10 4.68 0.27 4.84 0.10 1.10 =============================================================================== 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 some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, the EU-25. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries. WASDE-441-26 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2004/05 : World : 43.06 120.39 33.34 108.82 35.02 -1.12 54.07 United States : 3.45 23.25 0.03 6.69 14.44 0.11 5.50 Total foreign : 39.61 97.14 33.31 102.13 20.59 -1.23 48.57 Major exporters 4/ : 14.70 45.83 1.89 23.50 16.65 -0.19 22.45 Central Asia 5/ : 1.72 8.07 3/ 1.51 5.92 0.00 2.36 Afr. Fr. Zone 6/ : 1.30 5.01 3/ 0.20 4.13 0.00 1.97 S. Hemis. 7/ : 6.44 10.34 0.45 5.26 4.23 -0.20 7.94 Australia : 0.89 3.00 3/ 0.07 2.00 -0.12 1.96 Brazil : 4.63 5.90 0.21 4.20 1.56 -0.10 5.08 India : 4.19 19.00 1.04 14.80 0.66 0.00 8.76 Major importers 8/ : 23.02 47.42 28.66 73.87 2.59 -1.06 23.70 Mexico : 1.14 0.63 1.81 2.10 0.14 0.03 1.32 China : 14.96 29.00 6.39 38.50 0.03 -1.25 13.06 EU-25 9/ : 0.97 2.31 3.08 3.47 1.66 0.06 1.16 Russia : 0.20 3/ 1.45 1.43 0.00 0.00 0.22 Turkey : 1.48 4.15 3.41 7.10 0.15 0.00 1.79 Pakistan : 2.03 11.14 1.70 10.75 0.56 0.03 3.54 Indonesia : 0.37 0.03 2.20 2.15 0.02 0.05 0.38 Thailand : 0.42 0.06 2.28 2.10 0.00 0.03 0.63 Bangladesh : 0.35 0.06 1.85 1.88 0.00 0.01 0.38 : : 2005/06 (Estimated) : World : 54.07 114.14 44.17 115.82 44.94 -2.60 54.23 United States : 5.50 23.89 0.03 5.89 18.04 -0.56 6.05 Total foreign : 48.57 90.25 44.14 109.93 26.90 -2.04 48.18 Major exporters 4/ : 22.45 43.77 1.52 25.09 22.32 -0.09 20.43 Central Asia 5/ : 2.36 8.36 3/ 1.46 7.00 0.00 2.27 Afr. Fr. Zone 6/ : 1.97 4.24 3/ 0.19 4.35 0.00 1.68 S. Hemis. 7/ : 7.94 8.97 0.60 5.16 5.57 -0.10 6.88 Australia : 1.96 2.80 3/ 0.06 2.88 -0.12 1.94 Brazil : 5.08 4.70 0.31 4.05 1.97 0.00 4.07 India : 8.76 19.20 0.40 16.50 3.70 0.00 8.16 Major importers 8/ : 23.70 42.93 40.29 80.42 2.90 -1.96 25.56 Mexico : 1.32 0.64 1.74 2.10 0.25 0.03 1.32 China : 13.06 26.20 19.28 45.00 0.04 -2.15 15.66 EU-25 9/ : 1.16 2.49 2.30 2.74 1.96 0.06 1.18 Russia : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey : 1.79 3.55 3.45 6.90 0.20 0.00 1.69 Pakistan : 3.54 9.85 1.80 11.75 0.32 0.03 3.10 Indonesia : 0.38 0.03 2.20 2.18 0.02 0.05 0.37 Thailand : 0.63 0.05 1.89 2.05 0.01 0.03 0.50 Bangladesh : 0.38 0.07 2.21 2.20 0.00 0.01 0.46 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, China, and the United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Paraguay, South Africa, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, South Korea, Taiwan, and Vietnam. 9/ Includes intra-EU trade. WASDE-441-27 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2006/07 (Projected) World : November : 53.81 115.72 42.03 120.88 41.55 -1.92 51.05 December : 54.23 115.86 41.69 121.00 41.20 -1.92 51.49 United States : November : 6.05 21.30 0.03 5.20 16.20 -0.02 6.00 December : 6.05 21.30 0.03 5.10 16.00 -0.02 6.30 Total foreign : November : 47.76 94.42 42.00 115.68 25.35 -1.90 45.05 December : 48.18 94.56 41.66 115.90 25.20 -1.90 45.19 Major exporters 4/ : November : 20.00 44.89 1.88 26.07 21.53 -0.09 19.26 December : 20.43 44.52 1.88 26.37 21.36 -0.09 19.19 Central Asia 5/Nov : 2.27 8.21 3/ 1.40 6.82 0.00 2.26 Dec : 2.27 8.17 3/ 1.40 6.82 0.00 2.22 Afr. Fr. Zn. 6/Nov : 1.55 4.46 3/ 0.18 4.34 0.00 1.49 Dec : 1.68 4.44 3/ 0.18 4.44 0.00 1.49 S. Hemis 7/ Nov : 6.88 8.69 0.73 5.19 4.68 -0.10 6.54 Dec : 6.88 8.54 0.73 5.19 4.60 -0.10 6.46 Australia Nov : 1.94 1.70 3/ 0.06 2.45 -0.12 1.26 Dec : 1.94 1.30 3/ 0.06 2.30 -0.12 1.01 Brazil Nov : 4.07 5.25 0.50 4.05 1.40 0.00 4.37 Dec : 4.07 5.50 0.50 4.05 1.48 0.00 4.54 India Nov : 7.86 21.00 0.60 17.50 4.20 0.00 7.76 Dec : 8.16 21.00 0.60 17.80 4.10 0.00 7.86 Major importers 8/ : November : 25.56 46.19 37.77 85.30 2.25 -1.81 23.79 December : 25.56 46.69 37.52 85.30 2.28 -1.81 24.01 Mexico Nov : 1.32 0.64 1.40 2.00 0.25 0.03 1.08 Dec : 1.32 0.64 1.40 2.00 0.25 0.03 1.08 China Nov : 15.66 30.00 17.50 50.00 0.03 -2.00 15.14 Dec : 15.66 30.50 17.25 50.00 0.05 -2.00 15.36 EU-25 9/ Nov : 1.18 1.70 2.06 2.40 1.56 0.06 0.93 Dec : 1.18 1.70 2.06 2.40 1.56 0.06 0.93 Russia Nov : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Dec : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey Nov : 1.69 4.15 2.55 6.70 0.15 0.00 1.54 Dec : 1.69 4.15 2.55 6.70 0.15 0.00 1.54 Pakistan Nov : 3.10 9.50 2.30 12.20 0.15 0.03 2.52 Dec : 3.10 9.50 2.30 12.20 0.15 0.03 2.52 Indonesia Nov : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Dec : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Thailand Nov : 0.50 0.05 2.05 2.10 0.00 0.03 0.47 Dec : 0.50 0.05 2.05 2.10 0.00 0.03 0.47 Bangladesh Nov : 0.46 0.07 2.30 2.30 0.00 0.01 0.53 Dec : 0.46 0.07 2.30 2.30 0.00 0.01 0.53 =============================================================================== 1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, and the United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Paraguay, South Africa, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, South Korea, Taiwan, and Vietnam. 9/ Includes intra-EU trade. WASDE-441-28 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 2004/05 World 2/ : 38.56 215.95 63.60 175.75 205.39 64.54 48.18 United States : 3.06 85.01 0.15 46.16 51.40 29.86 6.96 Total foreign : 35.50 130.94 63.45 129.59 153.99 34.68 41.22 Major exporters 3/ : 30.99 96.05 1.20 57.54 62.04 32.34 33.87 Argentina : 15.40 39.00 0.69 27.31 28.75 9.31 17.03 Brazil : 15.51 53.00 0.48 29.25 32.10 20.14 16.75 Major importers 4/ : 3.62 19.55 51.96 53.34 68.56 0.42 6.15 China : 2.10 17.40 25.80 30.36 40.21 0.39 4.70 EU-25 : 0.90 0.79 14.64 14.00 15.43 0.01 0.88 Japan : 0.30 0.17 4.30 3.15 4.50 0.00 0.26 Mexico : 0.04 0.13 3.64 3.73 3.76 0.00 0.05 : : 2005/06 (Estimated) World 2/ : 48.18 218.04 64.24 184.09 213.80 64.43 52.22 United States : 6.96 83.37 0.09 47.32 52.43 25.78 12.21 Total foreign : 41.22 134.67 64.15 136.77 161.37 38.65 40.01 Major exporters 3/ : 33.87 99.50 0.71 61.09 65.52 35.76 32.80 Argentina : 17.03 40.50 0.58 31.89 33.41 7.26 17.44 Brazil : 16.75 55.00 0.08 28.05 30.66 25.90 15.27 Major importers 4/ : 6.15 18.65 53.14 56.16 71.62 0.38 5.93 China : 4.70 16.35 28.32 34.50 44.54 0.35 4.47 EU-25 : 0.88 0.86 13.80 13.18 14.59 0.01 0.94 Japan : 0.26 0.23 3.96 2.82 4.19 0.00 0.25 Mexico : 0.05 0.15 3.65 3.77 3.80 0.00 0.04 : : 2006/07 (Projected) World 2/ : November : 52.15 224.97 69.73 191.67 221.06 70.57 55.22 December : 52.22 226.77 70.03 193.10 222.58 70.73 55.72 United States : November : 12.21 87.20 0.11 48.44 52.97 31.16 15.38 December : 12.21 87.20 0.11 48.44 52.97 31.16 15.38 Total foreign : November : 39.93 137.77 69.62 143.23 168.08 39.41 39.84 December : 40.01 139.58 69.92 144.66 169.61 39.57 40.33 Major exporters 3/ : November : 32.72 102.00 1.04 62.58 66.68 36.20 32.88 December : 32.80 102.70 1.04 62.90 67.03 36.25 33.25 Argentina Nov : 17.51 41.30 0.93 33.80 35.34 7.00 17.40 Dec : 17.44 42.00 0.93 33.80 35.37 7.20 17.80 Brazil Nov : 15.12 56.00 0.10 27.58 29.93 25.90 15.39 Dec : 15.27 56.00 0.10 27.90 30.26 25.75 15.37 Major importers 4/ : November : 5.93 18.55 57.54 60.11 75.95 0.39 5.68 December : 5.93 18.55 57.54 60.11 75.95 0.39 5.68 China Nov : 4.47 16.20 32.00 37.75 48.10 0.35 4.22 Dec : 4.47 16.20 32.00 37.75 48.10 0.35 4.22 EU-25 Nov : 0.94 0.92 14.14 13.67 15.05 0.01 0.93 Dec : 0.94 0.92 14.14 13.67 15.05 0.01 0.93 Japan Nov : 0.25 0.20 4.05 2.88 4.24 0.00 0.26 Dec : 0.25 0.20 4.05 2.88 4.24 0.00 0.26 Mexico Nov : 0.04 0.16 3.76 3.88 3.92 0.00 0.04 Dec : 0.04 0.16 3.76 3.88 3.92 0.00 0.04 =============================================================================== 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 exports 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-441-29 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2004/05 World 2/ : 4.81 138.74 46.45 137.33 46.85 5.82 United States : 0.19 36.94 0.13 30.45 6.66 0.16 Total foreign : 4.62 101.80 46.32 106.89 40.19 5.66 Major exporters 3/ : 2.44 48.19 0.25 10.68 36.75 3.45 Argentina : 0.61 21.53 0.00 0.50 20.65 1.00 Brazil : 1.80 22.66 0.25 8.88 14.26 1.58 India : 0.04 4.01 0.00 1.31 1.85 0.88 Major importers 4/ : 1.19 36.85 27.51 63.11 1.23 1.20 EU-25 : 0.85 11.01 21.72 32.19 0.55 0.85 China : 0.00 24.03 0.07 23.44 0.66 0.00 : : 2005/06 (Estimated) World 2/ : 5.82 144.70 50.97 145.59 51.46 4.44 United States : 0.16 37.41 0.13 30.10 7.32 0.29 Total foreign : 5.66 107.29 50.84 115.49 44.14 4.16 Major exporters 3/ : 3.45 51.00 0.19 11.58 40.91 2.16 Argentina : 1.00 25.02 0.00 0.58 24.34 1.10 Brazil : 1.58 21.66 0.19 9.60 12.90 0.94 India : 0.88 4.33 0.00 1.41 3.68 0.12 Major importers 4/ : 1.20 39.37 30.02 68.47 1.03 1.09 EU-25 : 0.85 10.37 22.90 32.61 0.65 0.86 China : 0.00 27.30 0.84 27.78 0.36 0.00 : : 2006/07 (Projected) World 2/ : November : 5.83 151.53 52.68 151.99 52.91 5.13 December : 4.44 152.10 52.52 152.44 52.75 3.88 United States : November : 0.29 38.48 0.15 30.94 7.71 0.27 December : 0.29 38.48 0.15 30.94 7.71 0.27 Total foreign : November : 5.54 113.05 52.53 121.06 45.20 4.86 December : 4.16 113.62 52.37 121.50 45.03 3.60 Major exporters 3/ : November : 3.37 52.80 0.23 11.67 41.90 2.83 December : 2.16 53.20 0.28 12.17 41.70 1.77 Argentina Nov : 1.91 26.69 0.00 0.60 26.30 1.70 Dec : 1.10 26.33 0.00 0.65 25.90 0.88 Brazil Nov : 1.34 21.71 0.23 9.55 12.60 1.12 Dec : 0.94 21.83 0.28 10.00 12.20 0.84 India Nov : 0.12 4.40 0.00 1.52 3.00 0.01 Dec : 0.12 5.04 0.00 1.52 3.60 0.05 Major importers 4/ : November : 1.13 42.39 30.24 71.60 1.13 1.04 December : 1.09 42.39 30.20 71.61 1.08 1.00 EU-25 Nov : 0.86 10.76 22.68 32.69 0.75 0.86 Dec : 0.86 10.76 22.68 32.74 0.70 0.86 China Nov : 0.00 29.87 0.90 30.42 0.35 0.00 Dec : 0.00 29.87 0.90 30.42 0.35 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-441-30 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2004/05 World 2/ : 2.64 32.49 8.96 31.74 9.23 3.12 United States : 0.49 8.78 0.01 7.91 0.60 0.77 Total foreign : 2.15 23.71 8.94 23.83 8.63 2.35 Major exporters 3/ : 1.41 13.24 0.16 5.63 7.68 1.51 Argentina : 0.86 5.09 0.00 0.41 4.75 0.79 Brazil : 0.37 5.65 0.00 3.09 2.41 0.52 EU-25 : 0.18 2.51 0.16 2.14 0.51 0.20 Major importers 4/ : 0.44 6.32 3.83 9.91 0.05 0.63 China : 0.34 5.42 1.74 7.21 0.04 0.25 India : 0.10 0.90 2.02 2.63 0.01 0.38 Pakistan : 0.01 0.00 0.06 0.06 0.00 0.01 : : 2005/06 (Estimated) World 2/ : 3.12 34.31 8.85 33.42 9.29 3.57 United States : 0.77 9.25 0.02 8.15 0.52 1.37 Total foreign : 2.35 25.06 8.84 25.27 8.77 2.20 Major exporters 3/ : 1.51 13.75 0.70 6.41 7.90 1.64 Argentina : 0.79 6.00 0.00 0.43 5.60 0.77 Brazil : 0.52 5.39 0.02 3.20 2.06 0.68 EU-25 : 0.20 2.36 0.68 2.79 0.25 0.20 Major importers 4/ : 0.63 7.13 3.22 10.53 0.11 0.34 China : 0.25 6.15 1.52 7.61 0.11 0.20 India : 0.38 0.97 1.68 2.88 0.01 0.14 Pakistan : 0.01 0.01 0.03 0.04 0.00 0.00 : : 2006/07 (Projected) World 2/ : November : 3.55 35.31 9.66 35.62 9.92 2.97 December : 3.57 35.66 9.56 35.70 9.89 3.19 United States : November : 1.35 9.12 0.03 8.71 0.57 1.22 December : 1.37 9.17 0.03 8.71 0.61 1.24 Total foreign : November : 2.20 26.19 9.63 26.91 9.36 1.76 December : 2.20 26.49 9.53 26.99 9.28 1.95 Major exporters 3/ : November : 1.64 14.08 0.93 7.00 8.38 1.27 December : 1.64 14.19 0.93 7.03 8.30 1.44 Argentina Nov : 0.77 6.34 0.00 0.61 5.85 0.65 Dec : 0.77 6.38 0.00 0.61 5.90 0.63 Brazil Nov : 0.68 5.29 0.01 3.28 2.28 0.42 Dec : 0.68 5.37 0.01 3.30 2.15 0.60 EU-25 Nov : 0.20 2.45 0.93 3.11 0.25 0.21 Dec : 0.20 2.45 0.93 3.11 0.25 0.21 Major importers 4/ : November : 0.34 7.74 3.65 11.40 0.08 0.26 December : 0.34 7.89 3.55 11.41 0.08 0.29 China Nov : 0.20 6.74 1.70 8.34 0.08 0.22 Dec : 0.20 6.74 1.70 8.34 0.08 0.22 India Nov : 0.14 0.99 1.90 2.99 0.01 0.04 Dec : 0.14 1.14 1.80 3.00 0.01 0.07 Pakistan Nov : 0.00 0.01 0.05 0.06 0.00 0.00 Dec : 0.00 0.01 0.05 0.06 0.00 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 EU. 4/ India, China and Pakistan. WASDE-441-31 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 2005 : IV : 6209 5526 11822 8904 1405 10432 22254 1915 43.7 Annual : 24683 20685 45711 35365 5504 41386 87097 7504 177.0 : 2006 : I : 6078 5321 11486 8937 1354 10416 21902 1878 45.6 II : 6699 4998 11782 9129 1440 10701 22483 1880 46.9 III : 6808 5071 11960 8883 1419 10427 22387 1891 44.7 IV*: 6450 5675 12216 8900 1455 10480 22696 1920 44.7 Annual : Nov Proj : 25970 21065 47377 35846 5668 42021 89398 7572 181.9 Dec Proj : 26035 21065 47444 35849 5668 42024 89468 7569 181.9 : 2007 : I*: 6375 5375 11838 8900 1390 10415 22253 1885 46.0 II*: 6800 5250 12134 9115 1460 10705 22839 1900 47.2 III*: 7000 5375 12457 9125 1440 10695 23152 1920 44.9 Annual : Nov Proj : 26700 21850 48890 36325 5760 42605 91495 7682 183.0 Dec Proj : 26700 21850 48891 36215 5760 42495 91386 7650 183.0 =============================================================================== * 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 2005 : IV : 90.27 45.67 66.7 83.6 75.0 15.17 Annual : 87.28 50.05 70.8 73.4 65.5 15.14 : 2006 : I : 89.24 42.63 62.7 67.3 71.4 13.53 II : 80.39 48.45 61.0 71.3 62.7 12.00 III : 85.40 51.83 67.8 79.4 64.0 12.23 IV*: 86-87 46-47 65-66 95-96 87-88 13.70-13.90 Annual : Nov Proj : 85.76 47.23 63.9 78.0 69.0 12.80-12.90 Dec Proj : 85.38 47.35 64.3 78.4 71.4 12.85-12.95 : 2007 : I*: 84-88 41-43 64-68 69-73 78-82 13.80-14.30 II*: 83-89 40-44 63-69 70-76 74-80 13.15-13.95 III*: 81-87 41-45 66-72 73-79 77-83 13.70-14.70 Annual : Nov Proj : 82-88 40-43 63-68 70-76 75-81 13.40-14.30 Dec Proj : 82-88 40-43 65-70 72-78 78-84 13.70-14.50 =============================================================================== *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/ Simple monthly average of prices received by farmers for all milk. May not match reported annual averages. WASDE-441-32 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/ 3/ ============================================================================ : Million pounds 4/ BEEF : 2005 : 637 24784 3599 29020 698 571 27751 65.5 2006 Proj. Nov : 571 26072 3152 29795 1173 625 27997 65.5 Dec : 571 26137 3038 29746 1150 625 27971 65.4 2007 Proj. Nov : 625 26802 3360 30787 1500 600 28687 66.5 Dec : 625 26802 3280 30707 1440 600 28667 66.4 : PORK : 2005 : 543 20706 1025 22274 2665 494 19115 50.0 2006 Proj. Nov : 494 21085 1021 22600 2968 550 19082 49.5 Dec : 494 21085 1005 22584 2971 550 19063 49.4 2007 Proj. Nov : 550 21870 1030 23450 3090 550 19810 50.9 Dec : 550 21870 1010 23430 3090 550 19790 50.8 : TOTAL RED MEAT 5/ : 2005 : 1187 45846 4804 51837 3372 1080 47385 117.0 2006 Proj. Nov : 1080 47512 4362 52954 4161 1204 47589 116.4 Dec : 1080 47579 4229 52888 4141 1204 47543 116.3 2007 Proj. Nov : 1204 49025 4574 54803 4602 1179 49022 118.9 Dec : 1204 49026 4474 54704 4542 1179 48983 118.8 : BROILERS : 2005 : 713 34986 34 35733 5203 924 29607 85.7 2006 Proj. Nov : 924 35462 41 36427 5411 725 30292 86.9 Dec : 924 35465 41 36430 5225 700 30505 87.5 2007 Proj. Nov : 725 35936 36 36697 5530 770 30397 86.4 Dec : 700 35827 36 36563 5405 750 30408 86.5 : TURKEYS : 2005 : 288 5432 8 5728 570 206 4952 16.7 2006 Proj. Nov : 206 5594 9 5809 544 225 5040 16.8 Dec : 206 5594 9 5809 546 225 5038 16.8 2007 Proj. Nov : 225 5685 4 5914 585 280 5049 16.7 Dec : 225 5685 4 5914 585 280 5049 16.7 : TOTAL POULTRY 6/ : 2005 : 1005 40935 42 41981 5902 1132 34947 103.7 2006 Proj. Nov : 1132 41563 52 42747 6090 962 35695 105.0 Dec : 1132 41566 52 42750 5911 937 35902 105.6 2007 Proj. Nov : 962 42140 42 43144 6245 1061 35838 104.4 Dec : 937 42032 42 43011 6120 1041 35850 104.5 : RED MEAT & POULTRY: 2005 : 2192 86781 4846 93819 9274 2212 82333 220.7 2006 Proj. Nov : 2212 89075 4414 95701 10251 2166 83284 221.4 Dec : 2212 89144 4281 95638 10052 2141 83445 221.8 2007 Proj. Nov : 2166 91165 4616 97947 10847 2240 84860 223.3 Dec : 2141 91058 4516 97715 10662 2220 84833 223.3 ============================================================================ 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/ Population source: Dept. of Commerce, Bureau of Economic Analysis. 4/ Carcass weight for red meats and certified ready-to-cook weight for poultry. 5/ Beef, pork, veal, lamb and mutton. 6/ Broilers, turkeys and mature chicken. WASDE-441-33 U.S. Egg Supply and Use =============================================================================== : : : 2006 Projected : 2007 Projected : : :-----------------:----------------- Commodity : 2004 : 2005 : Nov : Dec : Nov : Dec =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 13.7 14.5 16.0 16.0 16.0 16.0 Production : 7440.0 7503.6 7572.0 7569.0 7682.0 7650.0 Imports : 12.7 9.0 7.7 7.6 8.8 8.8 Total supply : 7466.4 7527.1 7595.7 7592.6 7706.8 7674.8 : Use : Exports : 167.5 203.3 187.4 191.5 195.0 195.0 Hatching use : 988.1 999.8 994.5 992.5 990.0 980.0 Ending stocks : 14.5 16.0 16.0 16.0 16.0 16.0 Consumption : Total : 6296.3 6308.0 6397.8 6392.6 6505.8 6483.8 Per capita (number) : 257.1 255.2 256.4 256.2 258.4 257.5 =============================================================================== U.S. Milk Supply and Use =============================================================================== : : : 2006 Projected : 2007 Projected Commodity : : :-----------------:----------------- : 2004 : 2005 : Nov : Dec : Nov : Dec =============================================================================== : Billion pounds Milk : Production : 170.9 177.0 181.9 181.9 183.0 183.0 Farm use : 1.1 1.1 1.1 1.1 1.0 1.0 : Fat Basis Supply : Beg. commercial stocks : 8.3 7.2 8.0 8.0 9.0 9.4 Marketings : 169.8 175.9 180.8 180.8 182.0 182.0 Imports : 5.3 5.0 4.5 4.6 5.1 4.9 Total cml. supply : 183.4 188.0 193.3 193.4 196.1 196.3 : Fat Basis Use : Ending commercial stks : 7.2 8.0 9.0 9.4 7.5 7.9 CCC net removals 1/ : -0.1 -0.0 0.0 0.0 0.0 0.0 Commercial use 2/ : 176.4 180.1 184.3 184.0 188.6 188.4 : Skim-solids Basis Supply : Beg. commercial stocks : 8.5 8.2 9.0 9.0 8.8 8.7 Marketings : 169.8 175.9 180.8 180.8 182.0 182.0 Imports : 4.8 4.8 4.5 4.5 5.7 5.1 Total cml. supply : 183.1 188.9 194.3 194.3 196.5 195.8 : Skim-solids Basis Use : Ending commercial stks : 8.2 9.0 8.8 8.7 8.3 8.6 CCC net removals 1/ : 1.3 -1.0 0.7 0.7 0.0 0.0 Commercial use 2/ : 173.7 180.9 184.8 184.8 188.2 187.2 : : Million pounds CCC product net removals 1/: Butter : -7 0 0 0 0 0 Cheese : 6 -2 0 0 0 0 Nonfat dry milk : 105 -81 64 64 0 0 Dry whole milk : 0 0 0 0 0 0 =============================================================================== Note: Totals may not add due to rounding. 1/ Includes products exported under the Dairy Export Incentive Program. 2/ Includes commercial exports. WASDE-441-34 U.S. Dairy Prices =============================================================================== : : : 2006 Projected : 2007 Projected : : :-----------------:------------------ Commodity : 2004 : 2005 : Nov : Dec : Nov : Dec =============================================================================== : Dollars per pound : Product Prices 1/ : Cheese : 1.6431 1.4875 1.230- 1.240- 1.305- 1.315- : 1.240 1.250 1.395 1.395 : Butter : 1.8239 1.5405 1.205- 1.205- 1.250- 1.250- : 1.235 1.235 1.370 1.360 : Nonfat dry milk : 0.8405 0.9409 0.875- 0.875- 0.880- 0.905- : 0.895 0.895 0.950 0.965 : Dry whey : 0.2319 0.2782 0.320- 0.325- 0.300- 0.345- : 0.330 0.335 0.330 0.375 : : Dollars per cwt Milk Prices 2/ : Class III : 15.39 14.05 11.70- 11.85- 12.40- 12.75- : 11.80 11.95 13.30 13.55 : Class IV : 13.20 12.87 10.95- 10.95- 11.20- 11.40- : 11.15 11.15 12.20 12.30 : All milk 3/ : 16.05 15.14 12.80- 12.85- 13.40- 13.70- : 12.90 12.95 14.30 14.50 : =============================================================================== 1/ Simple average of monthly prices calculated by AMS from NASS weekly average dairy product prices for class price computations. Details may be found at http://www.ams.usda.gov/dyfmos/mib/fedordprc_dscrp.htm. 2/ Annual Class III and Class IV prices are the simple averages of monthly minimum Federal order milk prices paid by regulated plants for milk used in the respective classes. All milk price is the simple average of monthly prices received by farmers for milk at average test. 3/ Does not reflect any deductions from producers as authorized by legislation. WASDE-441-35 Note: Tables on pages 35-37 present a 25-year record of the differences between the December projection and the final estimate. Using world wheat production as an example, changes between the December projection and the final estimate have averaged 3.8 million tons (0.7%) ranging from -10.2 to 6.1 million tons. The December projection has been below the estimate 17 times and above 8 times. Reliability of December Projections =============================================================================== :Differences between proj. & final estimate,1981/82-2005/06 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== WHEAT :Percent Million metric tons Number of years 2/ Production : World : 0.7 3.8 -10.2 6.1 17 8 U.S. : 0.3 0.2 -1.2 0.5 13 9 Foreign : 0.8 3.8 -10.3 6.3 17 8 Exports : World : 3.4 3.9 -12.6 5.7 19 6 U.S. : 4.9 1.6 -3.9 3.4 12 13 Foreign : 5.0 4.0 -11.2 5.9 21 4 Domestic use : World : 1.0 5.1 -13.0 11.0 15 10 U.S. : 5.2 1.6 -2.4 3.6 8 17 Foreign : 1.0 5.0 -16.1 8.7 17 8 Ending stocks : World : 4.6 5.8 -15.0 6.1 17 8 U.S. : 8.7 1.9 -7.0 2.1 15 10 Foreign : 4.6 4.7 -12.5 9.7 16 9 : COARSE GRAINS 3/ : Production : World : 1.1 9.0 -21.6 6.9 16 9 U.S. : 1.0 2.3 -7.5 5.8 14 11 Foreign : 1.5 8.9 -24.0 7.6 15 10 Exports : World : 4.3 4.5 -10.8 12.4 17 8 U.S. : 11.1 5.8 -11.6 12.4 11 14 Foreign : 9.4 4.9 -14.9 7.2 14 10 Domestic use : World : 1.1 9.5 -19.4 22.8 15 10 U.S. : 2.8 5.1 -17.9 16.5 14 11 Foreign : 1.2 7.8 -14.3 22.7 16 9 Ending stocks : World : 8.4 11.9 -30.3 17.5 19 6 U.S. : 16.6 8.2 -23.9 21.2 13 12 Foreign : 11.3 9.5 -31.8 8.3 19 6 : RICE, milled : Production : World : 1.7 5.7 -16.2 4.7 19 6 U.S. : 2.7 0.2 -0.3 0.5 13 10 Foreign : 1.7 5.7 -16.2 4.6 20 5 Exports : World : 7.8 1.5 -6.1 0.9 20 5 U.S. : 5.8 0.2 -0.6 0.3 14 9 Foreign : 8.9 1.5 -6.0 0.9 18 7 Domestic use : World : 1.2 3.9 -15.9 1.5 19 6 U.S. : 5.6 0.2 -0.4 0.4 13 12 Foreign : 1.2 3.9 -16.1 1.7 19 6 Ending stocks : World : 8.7 4.0 -14.8 4.8 19 6 U.S. : 15.4 0.2 -0.6 0.8 12 13 Foreign : 9.2 4.1 -14.2 4.6 19 6 =============================================================================== 1/ Footnotes at end of table. CONTINUED WASDE-441-36 Reliability of December Projections (Continued) =============================================================================== :Differences between proj. & final estimate,1981/82-2005/06 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== SOYBEANS 4/ :Percent Million metric tons Number of years 2/ Production : World : 2.7 3.9 -7.9 17.7 14 11 U.S. : 1.6 0.9 -2.7 2.1 9 16 Foreign : 4.7 3.7 -7.5 17.0 13 12 Exports : World : 5.4 2.3 -8.1 11.5 15 10 U.S. : 7.2 1.6 -3.9 4.8 14 11 Foreign : 15.8 2.2 -7.4 11.4 13 12 Domestic use : World : 2.5 3.3 -5.8 11.2 15 10 U.S. : 2.8 1.2 -3.6 2.1 18 7 Foreign : 3.2 3.0 -5.4 11.9 15 10 Ending stocks : World : 13.2 3.2 -8.2 18.5 15 10 U.S. : 27.1 2.0 -2.8 5.6 6 19 Foreign : 16.7 3.0 -8.4 12.9 16 9 : COTTON : Million 480-pound bales Production : World : 2.3 2.1 -6.4 4.4 14 10 U.S. : 1.4 0.2 -0.5 0.4 13 11 Foreign : 2.8 2.0 -6.7 4.3 13 11 Exports : World : 4.4 1.2 -4.1 1.2 16 9 U.S. : 10.5 0.7 -1.9 1.1 16 9 Foreign : 5.1 1.0 -3.3 1.6 14 10 Mill use : World : 2.0 1.7 -6.0 1.6 14 11 U.S. : 4.0 0.3 -0.9 1.0 15 9 Foreign : 2.1 1.6 -5.5 2.1 15 10 Ending stocks : World : 9.5 3.4 -8.1 9.4 13 12 U.S. : 20.8 0.9 -2.1 2.2 6 19 Foreign : 9.7 3.1 -8.6 8.9 16 9 =============================================================================== 1/ Final estimate for 1981/82-2004/05 is defined as the first November estimate following the marketing year and for 2005/06 last month's estimate. 2/ May not total 25 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. 4/ Global soybean supply and use projections were initially released in June 2004. Therefore, an insufficient number of observations are available to provide meaningful reliability statistics for global soybean supply and use. WASDE-441-37 Reliability of United States December Projections 1/ =============================================================================== :Differences between proj. & final estimate,1981/82-2005/06 2/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== CORN :Percent Million bushels Number of years 3/ Production : 1.0 80 -250 164 14 10 Exports : 11.4 204 -450 408 11 14 Domestic use : 3.1 195 -574 535 17 8 Ending stocks : 19.3 318 -986 907 13 12 : SORGHUM : Production : 2.4 15 -53 52 12 13 Exports : 12.7 30 -90 97 18 6 Domestic use : 9.9 40 -114 127 9 16 Ending stocks : 30.3 32 -104 82 12 13 : BARLEY : Production : 1.1 5 -12 24 10 10 Exports : 19.1 11 -37 30 10 13 Domestic use : 5.6 20 -30 70 9 15 Ending stocks : 10.6 15 -39 28 17 7 : OATS : Production : 0.8 3 -18 16 7 8 Exports : 44.4 1 -4 7 6 7 Domestic use : 3.3 12 -39 36 13 12 Ending stocks : 12.7 14 -46 52 15 10 : : Thousand short tons SOYBEAN MEAL : Production : 2.7 859 -2578 1265 16 9 Exports : 9.6 656 -1900 1300 13 12 Domestic use : 2.5 611 -1206 1166 15 10 Ending stocks : 28.5 69 -214 188 11 13 : : Million pounds SOYBEAN OIL : Production : 2.6 388 -1418 745 17 8 Exports : 19.1 283 -900 964 11 12 Domestic use : 2.3 303 -985 500 17 8 Ending stocks : 16.0 250 -639 708 14 11 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 3.4 837 -852 2311 16 7 Pork : 2.7 763 -1240 1592 13 10 Broilers : 1.4 334 -1337 516 15 8 Turkeys : 1.9 90 -294 181 14 9 : : Million dozen Eggs : 1.2 77 -127 178 16 7 : : Billion pounds Milk : 1.4 2.1 -6.1 5.7 12 11 =============================================================================== 1/ See pages 35 and 36 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-2004/05 is defined as the first November estimate following the marketing year and for 2005/06 last month's estimate. 3/ May not total 25 for crops and 23 for animal production if projection was the same as the final estimate. 4/ Calendar years 1983 thru 2005 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS. -------- End of File -----------------