ISSN:1554-9089 WASDE-444 March 9, 2007 WHEAT: The U.S. wheat and wheat-by-class balance sheets are unchanged this month. The projected range for the 2006/07 season-average farm price is also unchanged at $4.20 to $4.30 per bushel. Global wheat production for 2006/07 is projected at 593.1 million tons, up 1.1 million from last month on higher production in India. Production for India is raised 1.4 million tons, more than offsetting a downward revision in EU-25 of 0.2 million tons. A small reduction in Former Soviet Union output accounts for the rest of this month's 2006/07 production changes. Global consumption is raised 1.2 million tons with increases for EU-25, India, and Australia. Higher wheat feeding in Australia is expected to offset some of the decline in sorghum production and pasture and forage availability as a result of the ongoing drought. Global exports are lowered 1.0 million tons this month, reflecting a like drop in EU-25 exports. Lower production and rising domestic consumption in EU-25 are expected to limit the availability of wheat for export. Global ending stocks for 2006/07 are raised 0.4 million tons as higher stocks in India and Australia more than offset a reduction in EU-25. An upward revision this month in 2005/06 production raises 2006/07 supplies and ending stocks for Australia. COARSE GRAINS: The U.S. feed grains balance sheets are unchanged this month. Projections for the corn and sorghum season-average farm prices are unchanged at $3.00 to $3.40 per bushel and $3.10 to $3.50 per bushel, respectively. The barley farm price range is raised 10 cents on the bottom end to $2.85 to $2.95 per bushel, reflecting strong feed barley prices. The oats farm price is tightened 5 cents on each end of the range to $1.80 to $1.90 per bushel. Global 2006/07 coarse grain production is lowered 0.5 million tons this month as higher corn production in South America is more than offset by lower coarse grains production in South Africa and Australia. Argentina corn production is raised 0.5 million tons to 21.5 million, and Brazil corn production is raised 2.0 million tons to 48.0 million. Production is expected to be a record in both countries as excellent growing season weather is reflected in higher yields. Corn area for Brazil's winter crop is also expected to be higher as producers respond to high corn prices with increased planting. South Africa corn output is lowered to 7.0 million tons, down 2.5 million from last month as drought and heat during February sharply reduced production prospects. Australia sorghum, oats, and corn production are all lowered as drought affected these spring planted crops. Coarse grain production in India is lowered as a reduction in millet is only partly offset by an increase in corn. The Philippines corn production is raised this month. World coarse grain consumption is raised slightly this month. An increase in corn consumption is nearly offset by lower millet, sorghum, and oats consumption. Corn consumption is raised for EU-25, Mexico, India, and the Philippines as larger supplies support increases in feeding. Reduced coarse grain production lowers consumption in other countries. With lower output, millet consumption is lowered for India. Sorghum, oats, and corn consumption are lowered for Australia, reflecting drought-reduced supplies. Corn consumption in South Africa is also lowered with production. Global coarse grain exports are raised 1.8 million tons this month with the biggest increases for Brazil, EU-25, and Ukraine. Brazil corn exports are raised 1.5 million tons as the projected record crop boosts available supplies. EU-25 and Ukraine barley exports are raised 0.5 million tons and 0.3 million tons, respectively. Australia barley exports are lowered 0.3 million tons. Corn imports for Mexico and the EU-25 are each raised 0.5 million tons reflecting continued strong demand for corn. South Africa corn imports are raised 1.0 million tons as production falls short of projected consumption. Global coarse grain ending stocks are lowered 0.6 million tons with a reduction in barley accounting for most of the change. RICE: Only minor changes are made to the U.S. 2006/07 rice supply and use projections. On the supply side, all rice imports are raised 0.5 million cwt to 19.0 million cwt with long-grain imports raised 0.5 million cwt while combined medium- and short-grain imports are unchanged. No changes are made on the use side from a month ago. The average milling yield for 2006/07 is raised slightly to 70.5 percent based on millings data received from the rice industry. Ending stocks of all rice are projected at 30.9 million cwt, 0.5 million cwt above last month, but 12.1 million cwt below a year earlier. The season-average farm price is projected at $9.75 to $9.95 per cwt, up 10 cents per cwt on both ends of the range from a month ago. Global production is lowered slightly from last month; consumption, imports, and exports are nearly unchanged; and ending stocks are raised slightly. Global production is reduced 0.3 million tons from a month ago due primarily to a smaller crop projected for Indonesia. Global ending stocks are projected at 79.1 million tons, up about 0.2 million tons from last month, but 2.8 million tons below 2005/06. The slight rise in ending stocks is due primarily to an increase for India (+0.75 million tons), which is nearly offset by reductions for Indonesia (-0.45 million tons), Argentina (-0.1 million tons), and Pakistan (- 0.1 million tons). Smaller adjustments in stocks are made to several other countries. OILSEEDS: U.S. soybean ending stocks for 2006/07 are projected at a record 595 million bushels, unchanged from last month, but up 33 percent from 2005/06. Crush and exports are unchanged. Reduced seed use is offset by an equivalent increase in residual, leaving total use unchanged. Soybean meal supply and demand are unchanged this month. Soybean oil stocks are reduced due to lower projected imports. The U.S. season-average soybean price for 2006/07 is projected at $6.10 to $6.50, up 20 cents on the lower end of the range. Soybean meal prices are projected at $185 to $200 per short ton, up $5 on both ends of the range. Soybean oil prices are unchanged at 27.5 to 29.5 cents per pound. Global oilseed production for 2006/07 is projected at 399.1 million tons, up 2.0 million tons from last month. Foreign production accounts for all of the change. Increases for soybeans, rapeseed, peanuts, and copra are partly offset by a small reduction for sunflowerseed. Global soybean production is projected at a record 229.4 million tons, up 1.0 million tons from last month. Brazil production is raised 1.0 million tons to a record 57.0 million tons. Growing conditions have been exceptionally good this season, especially in the southern states, which were affected by drought during each of the past three seasons. Other production changes include increased rapeseed for Australia, increased rapeseed and peanuts for China, and reduced sunflowerseed for EU-25. SUGAR: Projected 2006/07 U.S. sugar supply and use are nearly unchanged from last month. Beet sugar production is decreased 9,000 short tons, raw value, based on processor estimates compiled by the Farm Service Agency. With no other changes, ending stocks are decreased by that amount. LIVESTOCK, POULTRY, AND DAIRY: Total U.S. meat production for 2007 is reduced from last month and livestock and poultry prices are raised. Production declines are largest in the first half of the year and reflect reduced slaughter numbers and weights for cattle, hogs, and broilers. Beef production forecasts for the second half are lowered from last month due to lower slaughter and no expected growth in cattle weights. The decline in beef carcass weights reflects several factors including higher feed costs, harsh winter weather, and higher-than- expected first quarter beef cow slaughter. Despite higher forecast hog slaughter during the second half of the year, production is unchanged due to lower expected weights. Broiler production forecasts are reduced for the first half of the year based on low January slaughter data and below year-earlier egg set and chick placement data. Second-half broiler production forecasts are unchanged from last month as hatchery supply flock data supports expectations of a resumption of broiler meat production growth later in the year. Turkey production forecasts are unchanged. Egg production forecasts for the first half of the year are reduced slightly from last month. Supply and use estimates for 2006 are adjusted to reflect slaughter data revisions and December trade numbers. Price forecasts for 2007 are raised due to tighter expected first-half supplies. A slower-than-expected pace of hog and cattle marketings as well as weather concerns are supporting livestock prices. Broiler and turkey prices are raised due to relatively tight supplies and stronger exports. Egg prices for the first half of the year are raised due to slower production growth and currently high wholesale prices. Beef export forecasts for 2007 are reduced from last month because of slower expected recovery of trade with Japan and South Korea. Pork and poultry forecasts are unchanged from last month. Milk supply and use estimates for 2006 are adjusted to reflect revisions to production and stock data as well as December trade data. Production in first quarter 2007 is lowered because of reduced milk per cow as growth in January output per cow was lower than expected. Production forecasts for the remaining quarters are unchanged. Despite improved milk prices, relatively weak milk-feed ratios are expected to result in a gradual decline in herd numbers through much of the year. Beginning year stocks are higher than last month but demand for dairy products is expected to absorb the additional quantities. Nonfat dry milk (NDM) and whey demand, for both domestic use and exports, remains strong with international markets expected to remain tight through the entire year. Hence, prices for these products are raised from last month and are major drivers of the increase in the Class III and Class IV price forecasts. Butter prices are reduced slightly as butter supplies are relatively large and may grow as increased NDM demand supports increased butter production. Cheese price forecasts are slightly higher than last month as demand is firm. The all milk price forecast for 2007 is raised to $15.05 to $15.65. COTTON: This month's 2006/07 U.S. cotton forecasts include lower exports, resulting in higher ending stocks. Production and domestic mill use are unchanged, and imports are reduced marginally. The export forecast is lowered 500,000 bales to 14.0 million, reflecting continued sluggish U.S. export sales and shipments and lower estimated imports by China. Accordingly, ending stocks are raised to 8.8 million bales, the largest since 1985/86. With marginally higher world production offset by higher consumption, a reduction in this month's 2006/07 ending stocks mainly reflects slightly lower beginning stocks. An increase in India production is partially offset by reductions for Australia and some African Franc Zone countries. Consumption is also raised for India but lowered for Pakistan. China imports are reduced 1.5 million bales to 14.0 million, reflecting lower-than- expected imports for January and continued postponement of the government's release of import quotas. With lower world import demand, exports are reduced for the United States, India, Brazil, and the African Franc Zone. Forecast world ending stocks of 52.4 million bales are about 1 percent below 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: MIKE JOHANNS SECRETARY OF AGRICULTURE For questions about the WASDE report, call (202) 720-5447. RELATED USDA REPORTS The WASDE report incorporates information from a number of statistical reports published by USDA and other government agencies. In turn, the WASDE report provides a framework for more detailed reports issued by USDA Economic Research Service and Foreign Agricultural Service. See http://www.usda.gov/oce/waob/related.htm for an explanation of related reports. SUPPLY AND DEMAND DATABASE The Foreign Agricultural Service publishes Production, Supply, and Demand Online, a comprehensive database of supply and demand balances by commodity for 190 countries and regions at http://www.fas.usda.gov/psd/. Data for grains, oilseeds, and cotton are updated monthly and data for other commodities are updated less frequently. Data series go back to 1960/61 for many commodities. Users can download pre-defined tables, create custom queries, and import data into their own spreadsheets. SUBSCRIPTIONS Mail subscriptions cost $60.00; 2- and 3-year subscriptions are available. Call 1-800-999-6779 or 703-605-6220, 8:30 a.m.-5:00 pm. ET, or write ERS-NASS, 5285 Port Royal Road, Springfield, Virginia 22161. 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WASDE-444-8 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 : 2,043.07 2,400.95 241.14 1,993.57 407.38 2005/06 (Est.) : 2,015.18 2,422.56 252.32 2,026.86 395.71 2006/07 (Proj.) : February : 1,974.50 2,369.15 247.18 2,050.22 318.93 March : 1,974.76 2,370.47 248.02 2,051.53 318.94 Wheat : 2004/05 : 628.58 761.18 111.13 609.96 151.22 2005/06 (Est.) : 620.61 771.83 116.77 624.37 147.46 2006/07 (Proj.) : February : 592.03 738.95 109.04 618.16 120.80 March : 593.11 740.56 108.02 619.34 121.23 Coarse grains 4/ : 2004/05 : 1,014.01 1,153.90 101.65 975.89 178.01 2005/06 (Est.) : 977.54 1,155.56 107.48 989.14 166.41 2006/07 (Proj.) : February : 967.21 1,133.64 109.01 1,014.36 119.28 March : 966.70 1,133.12 110.85 1,014.47 118.65 Rice, milled : 2004/05 : 400.47 485.87 28.36 407.72 78.15 2005/06 (Est.) : 417.03 495.18 28.07 413.34 81.84 2006/07 (Proj.) : February : 415.27 496.56 29.12 417.71 78.85 March : 414.95 496.79 29.14 417.73 79.07 : : United States Total grains 3/ : 2004/05 : 385.62 434.59 83.91 275.97 74.71 2005/06 (Est.) : 363.16 442.69 91.28 279.73 71.68 2006/07 (Proj.) : February : 335.58 413.50 88.59 288.69 36.21 March : 335.62 413.56 88.61 288.71 36.24 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.) : February : 49.32 67.99 23.81 31.33 12.85 March : 49.32 67.99 23.81 31.33 12.85 Coarse grains 4/ : 2004/05 : 319.42 350.42 51.41 240.22 58.80 2005/06 (Est.) : 298.76 359.62 60.13 244.73 54.77 2006/07 (Proj.) : February : 280.11 337.40 61.54 253.46 22.40 March : 280.11 337.40 61.54 253.46 22.40 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.) : February : 6.15 8.11 3.24 3.90 0.97 March : 6.20 8.17 3.26 3.92 0.99 =============================================================================== 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-444-9 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 : 1,657.45 1,966.36 157.23 1,717.60 332.67 2005/06 (Est.) : 1,652.03 1,979.88 161.04 1,747.13 324.03 2006/07 (Proj.) : February : 1,638.92 1,955.66 158.58 1,761.53 282.72 March : 1,639.14 1,956.92 159.41 1,762.83 282.71 Wheat : 2004/05 : 569.85 685.65 82.12 578.13 136.52 2005/06 (Est.) : 563.33 697.63 89.30 593.18 131.91 2006/07 (Proj.) : February : 542.71 670.96 85.23 586.83 107.94 March : 543.79 672.57 84.21 588.01 108.38 Coarse grains 5/ : 2004/05 : 694.59 803.48 50.25 735.67 119.21 2005/06 (Est.) : 678.78 795.94 47.35 744.42 111.65 2006/07 (Proj.) : February : 687.09 796.25 47.48 760.90 96.89 March : 686.59 795.72 49.32 761.01 96.25 Rice, milled : 2004/05 : 393.01 477.23 24.86 403.79 76.94 2005/06 (Est.) : 409.92 486.31 24.38 409.53 80.47 2006/07 (Proj.) : February : 409.12 488.45 25.88 413.80 77.89 March : 408.76 488.62 25.88 413.81 78.08 =============================================================================== 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 : 120.12 163.15 34.98 108.82 53.87 2005/06 (Est.) : 113.94 167.81 44.67 115.80 53.95 2006/07 (Proj.) : February : 116.56 170.87 39.98 121.35 52.92 March : 116.75 170.70 38.54 121.54 52.38 : 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.) : February : 21.73 27.80 14.50 5.00 8.30 March : 21.73 27.79 14.00 5.00 8.80 : Foreign 3/ 2004/05 : 96.87 136.42 20.54 102.13 48.37 2005/06 (Est.) : 90.05 138.40 26.63 109.91 47.90 2006/07 (Proj.) : February : 94.83 143.06 25.48 116.35 44.62 March : 95.02 142.90 24.54 116.54 43.58 =============================================================================== 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-444-10 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 : 381.01 425.20 74.68 301.92 56.74 2005/06 (Est.) : 388.12 444.86 76.39 317.29 61.78 2006/07 (Proj.) : February : 397.18 458.91 82.50 330.09 63.75 March : 399.14 460.91 82.50 331.54 63.99 Oilmeals : 2004/05 : 205.87 212.49 60.25 203.87 7.57 2005/06 (Est.) : 214.91 222.48 65.70 214.64 6.18 2006/07 (Proj.) : February : 224.92 231.11 67.82 223.40 5.94 March : 225.60 231.78 68.22 223.74 5.99 Vegetable Oils : 2004/05 : 111.36 119.70 42.56 108.32 9.72 2005/06 (Est.) : 117.92 127.64 46.43 115.65 9.24 2006/07 (Proj.) : February : 124.05 134.06 48.52 122.10 9.78 March : 124.33 133.57 48.52 122.54 9.16 : : 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 14.20 2006/07 (Proj.) : February : 96.88 112.02 31.02 53.10 17.49 March : 96.88 112.00 31.04 53.03 17.59 Oilmeals : 2004/05 : 39.27 41.07 6.96 33.90 0.22 2005/06 (Est.) : 40.02 41.90 7.65 33.90 0.35 2006/07 (Proj.) : February : 41.14 43.16 8.19 34.64 0.33 March : 41.10 43.13 8.19 34.61 0.33 Vegetable Oils : 2004/05 : 9.76 12.39 0.84 10.45 1.09 2005/06 (Est.) : 10.42 13.90 0.90 11.20 1.80 2006/07 (Proj.) : February : 10.38 14.64 1.09 11.99 1.55 March : 10.36 14.60 1.12 11.93 1.56 : : Foreign 3/ Oilseeds : 2004/05 : 285.07 324.43 43.97 251.76 48.45 2005/06 (Est.) : 292.59 340.37 49.58 265.39 47.57 2006/07 (Proj.) : February : 300.30 346.90 51.48 276.99 46.26 March : 302.26 348.91 51.46 278.51 46.40 Oilmeals : 2004/05 : 166.61 171.41 53.29 169.97 7.35 2005/06 (Est.) : 174.89 180.58 58.04 180.74 5.83 2006/07 (Proj.) : February : 183.79 187.95 59.63 188.75 5.62 March : 184.50 188.65 60.04 189.13 5.66 Vegetable Oils : 2004/05 : 101.60 107.31 41.72 97.87 8.63 2005/06 (Est.) : 107.50 113.74 45.53 104.45 7.44 2006/07 (Proj.) : February : 113.67 119.42 47.43 110.10 8.23 March : 113.96 118.96 47.40 110.61 7.60 =============================================================================== 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-444-11 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : February March =============================================================================== 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 82 115 115 Supply, total : 2,775 2,727 2,498 2,498 Food : 910 915 925 925 Seed : 78 78 81 81 Feed and residual : 182 153 145 145 Domestic, total : 1,169 1,146 1,151 1,151 Exports : 1,066 1,009 875 875 Use, total : 2,235 2,155 2,026 2,026 Ending stocks : 540 571 472 472 CCC inventory : 54 43 35 35 Free stocks : 486 528 437 437 Outstanding loans : 58 42 15 15 Avg. farm price ($/bu) 2/ : 3.40 3.42 4.20- 4.30 4.20- 4.30 =============================================================================== 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 63 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/ : 898 613 511 342 134 2,498 Domestic use : 466 229 282 96 78 1,151 Exports : 265 250 130 200 30 875 Use, total : 731 479 412 296 108 2,026 Ending stocks, total : March : 167 134 100 46 26 472 February : 167 134 100 46 26 472 =============================================================================== 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-444-12 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : February March =============================================================================== FEED GRAINS : Area : Million acres Planted : 97.0 96.4 92.5 92.5 Harvested : 86.0 85.9 80.1 80.1 Yield per harvested : Metric tons acre : 3.71 3.47 3.49 3.49 : Million metric tons Beginning stocks : 28.7 58.8 54.7 54.7 Production : 319.2 298.6 279.9 279.9 Imports : 2.1 1.9 2.4 2.4 Supply, total : 350.1 359.3 337.1 337.1 Feed and residual : 165.8 162.9 157.8 157.8 Food, seed & industrial : 74.1 81.5 95.4 95.4 Domestic, total : 239.9 244.4 253.2 253.2 Exports : 51.4 60.1 61.5 61.5 Use, total : 291.3 304.5 314.7 314.7 Ending stocks, total : 58.8 54.7 22.4 22.4 CCC inventory : 0.0 0.0 0.0 0.0 Free stocks : 58.8 54.7 22.4 22.4 Outstanding loans : 7.2 4.4 5.8 5.8 : CORN : Area : Million acres Planted : 80.9 81.8 78.3 78.3 Harvested : 73.6 75.1 70.6 70.6 Yield per harvested : Bushels acre : 160.4 148.0 149.1 149.1 : Million bushels Beginning stocks : 958 2,114 1,967 1,967 Production : 11,807 11,114 10,535 10,535 Imports : 11 9 10 10 Supply, total : 12,776 13,237 12,512 12,512 Feed and residual : 6,158 6,141 5,975 5,975 Food, seed & industrial : 2,686 2,981 3,535 3,535 Ethanol for fuel 2/ : 1,323 1,603 2,150 2,150 Domestic, total : 8,844 9,122 9,510 9,510 Exports : 1,818 2,147 2,250 2,250 Use, total : 10,662 11,270 11,760 11,760 Ending stocks, total : 2,114 1,967 752 752 CCC inventory : 1 0 0 0 Free stocks : 2,113 1,967 752 752 Outstanding loans : 280 171 225 225 Avg. farm price ($/bu) 3/ : 2.06 2.00 3.00- 3.40 3.00- 3.40 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a further breakout of FSI corn uses including ethanol, see the Feed Outlook table 5 or access the data on the Web through the Feed Grain Data Delivery System (http://www.ers.usda.gov/db/feedgrains/). 3/ Marketing-year weighted average price received by farmers. WASDE-444-13 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : February March =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 7.5 6.5 6.5 6.5 Area harv. (mil. acres) : 6.5 5.7 4.9 4.9 Yield (bushels/acre) : 69.6 68.5 56.2 56.2 Beginning stocks : 34 57 66 66 Production : 454 393 278 278 Imports : 0 0 0 0 Supply, total : 487 450 343 343 Feed and residual : 191 140 110 110 Food, seed & industrial : 55 50 45 45 Total domestic : 246 190 155 155 Exports : 184 195 150 150 Use, total : 430 384 305 305 Ending stocks, total : 57 66 38 38 Avg. farm price ($/bu) 2/ : 1.79 1.86 3.10- 3.50 3.10- 3.50 : 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 50 50 Food, seed & industrial : 158 158 155 155 Total domestic : 261 210 205 205 Exports : 23 28 25 25 Use, total : 284 238 230 230 Ending stocks, total : 128 108 73 73 Avg. farm price ($/bu) 2/ : 2.48 2.53 2.75- 2.95 2.85- 2.95 : OATS : Area planted (mil. acres) : 4.1 4.2 4.2 4.2 Area harv. (mil. acres) : 1.8 1.8 1.6 1.6 Yield (bushels/acre) : 64.7 63.0 59.5 59.5 Beginning stocks : 65 58 53 53 Production : 116 115 94 94 Imports : 90 91 105 105 Supply, total : 271 264 251 251 Feed and residual : 136 136 125 125 Food, seed & industrial : 74 74 75 75 Total domestic : 210 209 200 200 Exports : 3 2 2 2 Use, total : 213 211 202 202 Ending stocks, total : 58 53 49 49 Avg. farm price ($/bu) 2/ : 1.48 1.63 1.75- 1.95 1.80- 1.90 =============================================================================== 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-444-14 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :============================== : : Est. : February March =============================================================================== TOTAL : Area : Million acres Planted : 3.35 3.38 2.84 2.84 Harvested : 3.33 3.36 2.82 2.82 Yield per harvested : Pounds acre : 6,988 6,636 6,868 6,868 : : Million hundredweight : Beginning stocks 2/ : 23.7 37.7 43.0 43.0 Production : 232.4 223.2 193.7 193.7 Imports : 13.2 17.1 18.5 19.0 Supply, total : 269.2 278.1 255.2 255.7 Domestic & residual 3/ : 122.7 119.3 122.8 122.8 Exports, total 4/ : 108.8 115.8 102.0 102.0 Rough : 33.8 34.1 36.0 36.0 Milled (rough equiv.) : 75.0 81.6 66.0 66.0 Use, total : 231.5 235.1 224.8 224.8 Ending stocks : 37.7 43.0 30.4 30.9 Avg. milling yield (%) 5/ : 70.8 70.2 70.0 70.5 Avg. farm price ($/cwt) 6/ : 7.33 7.65 9.65- 9.85 9.75- 9.95 : LONG GRAIN : Harvested acres (mil.) : 2.57 2.73 2.19 2.19 Yield (pounds/acre) : 6,630 6,493 6,689 6,689 Beginning stocks : 10.3 22.7 32.7 32.7 Production : 170.4 177.5 146.2 146.2 Supply, total 7/ : 191.3 212.5 191.4 191.9 Domestic & Residual 3/ : 84.7 86.9 89.8 89.8 Exports 8/ : 83.8 93.0 80.0 80.0 Use, total : 168.5 179.9 169.8 169.8 Ending stocks : 22.7 32.7 21.6 22.1 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.75 0.63 0.64 0.64 Yield (pounds/acre) : 8,212 7,255 7,484 7,484 Beginning stocks : 12.4 13.8 9.4 9.4 Production : 61.9 45.7 47.5 47.5 Supply, total 7/ : 76.8 64.7 63.0 63.0 Domestic & Residual 3/ : 38.0 32.5 33.1 33.1 Exports 8/ : 25.0 22.8 22.0 22.0 Use, total : 63.0 55.2 55.1 55.1 Ending stocks : 13.8 9.4 7.9 7.9 =============================================================================== 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-444-15 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :=============================== : : Est. : February March =============================================================================== SOYBEANS: : Million acres Area : Planted : 75.2 72.0 75.5 75.5 Harvested : 74.0 71.3 74.6 74.6 : : Bushels Yield per harvested : acre : 42.2 43.0 42.7 42.7 : : Million bushels : Beginning stocks : 112 256 449 449 Production : 3,124 3,063 3,188 3,188 Imports : 6 3 4 4 Supply, total : 3,242 3,322 3,642 3,642 Crushings : 1,696 1,739 1,780 1,780 Exports : 1,097 947 1,100 1,100 Seed : 88 93 91 87 Residual : 104 94 75 79 Use, total : 2,986 2,873 3,046 3,046 Ending stocks : 256 449 595 595 Avg. farm price ($/bu) 2/ : 5.74 5.66 5.90- 6.50 6.10 - 6.50 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,076 1,699 3,019 3,019 Production : 19,360 20,393 20,165 20,165 Imports : 26 35 55 30 Supply, total : 20,462 22,127 23,239 23,214 Domestic : 17,439 17,955 19,050 19,050 Exports : 1,324 1,153 1,500 1,500 Use, total : 18,763 19,108 20,550 20,550 Ending stocks : 1,699 3,019 2,689 2,664 Average price (c/lb) 2/ : 23.01 23.41 27.50- 27.50- : 29.50 29.50 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 211 172 314 314 Production : 40,715 41,242 42,421 42,421 Imports : 147 141 165 165 Supply, total : 41,073 41,555 42,900 42,900 Domestic : 33,561 33,176 33,900 33,900 Exports : 7,340 8,064 8,700 8,700 Use, total : 40,901 41,241 42,600 42,600 Ending stocks : 172 314 300 300 Average price ($/s.t.) 2/ : 182.89 174.17 180.00- 185.00- : 195.00 200.00 =============================================================================== 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-444-16 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 2006/07 Projection Item : 2004/05 : 2005/06 :====================== : : Estimate : February March ====================================================================== : 1,000 short tons, raw value : Beginning stocks : 1,897 1,332 1,698 1,698 Production 2/ : 7,877 7,399 8,598 8,589 Beet sugar : 4,611 4,444 5,059 5,050 Cane sugar : 3,266 2,955 3,539 3,539 Florida : 1,693 1,367 1,756 1,756 Hawaii : 258 223 249 249 Louisiana : 1,157 1,190 1,336 1,336 Texas : 158 175 198 198 Imports : 2,100 3,443 1,964 1,964 TRQ 3/ : 1,408 2,588 1,604 1,604 Other program 4/ : 500 349 300 300 Other 5/ : 192 506 60 60 Supply, total : 11,874 12,174 12,260 12,251 : Exports : 259 203 300 300 Deliveries : 10,188 10,341 10,265 10,265 Food : 10,019 10,184 10,100 10,100 Other 6/ : 169 157 165 165 Miscellaneous 7/ : 95 -68 0 0 Use, total : 10,542 10,476 10,565 10,565 Ending stocks : 1,332 1,698 1,695 1,686 : Stocks to use ratio : 12.6 16.2 16.0 16.0 ====================================================================== 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 275,000 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-444-17 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2006/07 Projections Item : 2004/05 : 2005/06 :=============================== : : Est. : February March =============================================================================== : Million acres Area : Planted : 13.66 14.25 15.27 15.27 Harvested : 13.06 13.80 12.73 12.73 : : Pounds Yield per harvested : acre : 855 831 819 819 : : Million 480 pound bales : Beginning stocks 2/ : 3.45 5.50 6.05 6.05 Production : 23.25 23.89 21.73 21.73 Imports : 0.03 0.03 0.03 0.02 Supply, total : 26.73 29.41 27.80 27.79 Domestic use : 6.69 5.89 5.00 5.00 Exports : 14.44 18.04 14.50 14.00 Use, total : 21.13 23.92 19.50 19.00 Unaccounted 3/ : 0.11 -0.56 0.00 -0.01 Ending stocks : 5.50 6.05 8.30 8.80 : Avg. farm price 4/ : 41.6 47.7 47.8 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 2006-January 2007. USDA is prohibited by law from publishing cotton price projections. =============================================================================== Notes: 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 47.4 percent. A table including detail for upland and extra long staple (ELS) cotton will be posted by noon on WASDE report release days at: http://www.usda.gov/oce/commodity/wasde/index.htm WASDE-444-18 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/ : 132.60 628.58 109.90 106.65 609.96 111.13 151.22 United States : 14.87 58.74 1.92 4.96 31.82 29.01 14.70 Total foreign : 117.72 569.85 107.98 101.70 578.13 82.12 136.52 Major exporters 4/ : 23.44 201.24 7.72 65.45 135.80 55.82 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 5.17 9.39 14.88 7.92 EU-25 5/ : 10.60 136.78 7.39 56.70 115.20 14.37 25.21 Major importers 6/ : 62.69 156.40 60.59 8.29 214.37 3.40 61.91 Brazil : 0.51 5.85 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 28.27 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 86.58 4.55 20.81 72.88 15.19 14.05 Russia : 2.65 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/ : 151.22 620.61 110.29 111.24 624.37 116.77 147.46 United States : 14.70 57.28 2.22 4.17 31.19 27.47 15.55 Total foreign : 136.52 563.33 108.07 107.07 593.18 89.30 131.91 Major exporters 4/ : 40.77 188.94 7.97 69.25 140.07 56.70 40.91 Argentina : 0.55 14.50 0.01 0.08 5.00 9.56 0.50 Australia : 7.09 25.00 0.08 3.70 6.40 16.01 9.76 Canada : 7.92 26.78 0.28 4.97 9.17 16.10 9.71 EU-25 5/ : 25.21 122.67 7.61 60.50 119.50 15.03 20.95 Major importers 6/ : 61.91 162.22 58.53 8.30 218.85 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 10.33 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 : 14.05 91.93 4.73 23.11 75.23 20.31 15.17 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-444-19 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/ : February : 146.93 592.03 109.78 107.23 618.16 109.04 120.80 March : 147.46 593.11 109.12 108.03 619.34 108.02 121.23 United States : February : 15.55 49.32 3.13 3.95 31.33 23.81 12.85 March : 15.55 49.32 3.13 3.95 31.33 23.81 12.85 Total foreign : February : 131.38 542.71 106.65 103.28 586.83 85.23 107.94 March : 131.91 543.79 106.00 104.08 588.01 84.21 108.38 Major exporters 4/ : February : 40.43 169.27 7.13 68.08 138.97 55.50 22.37 March : 40.91 169.05 7.13 68.88 140.26 54.50 22.33 Argentina Feb : 0.50 14.20 0.01 0.08 4.90 9.50 0.31 Mar : 0.50 14.20 0.01 0.08 4.90 9.50 0.31 Australia Feb : 9.26 10.50 0.08 4.20 6.90 10.50 2.43 Mar : 9.76 10.50 0.08 4.50 7.20 10.50 2.63 Canada Feb : 9.71 27.30 0.25 5.80 10.17 20.50 6.59 Mar : 9.71 27.30 0.25 5.80 10.17 20.50 6.59 EU-25 5/ Feb : 20.97 117.27 6.80 58.00 117.00 15.00 13.04 Mar : 20.95 117.05 6.80 58.50 118.00 14.00 12.80 Major importers 6/ : February : 59.40 168.54 53.75 7.73 219.69 5.20 56.81 March : 59.40 168.54 53.55 7.73 219.54 5.15 56.80 Brazil Feb : 1.33 2.25 7.50 0.10 10.40 0.05 0.63 Mar : 1.33 2.25 7.50 0.10 10.40 0.05 0.63 China Feb : 34.89 103.50 0.70 4.00 101.00 2.50 35.59 Mar : 34.89 103.50 0.70 4.00 101.00 2.50 35.59 Sel. Mideast 7/Feb : 6.06 18.80 10.00 1.40 29.44 0.60 4.82 Mar : 6.06 18.80 9.80 1.40 29.29 0.55 4.82 N. Africa 8/ Feb : 9.84 18.33 16.20 0.30 34.78 0.22 9.37 Mar : 9.84 18.33 16.20 0.30 34.78 0.22 9.37 Pakistan Feb : 3.15 21.70 0.20 0.40 21.90 0.50 2.65 Mar : 3.15 21.70 0.20 0.40 21.90 0.50 2.65 SE Asia 9/ Feb : 1.99 0.00 10.05 1.12 10.02 0.41 1.61 Mar : 1.99 0.00 10.05 1.12 10.02 0.41 1.61 Selected other : India Feb : 2.00 68.00 6.00 0.30 72.70 0.30 3.00 Mar : 2.00 69.35 6.00 0.30 73.55 0.30 3.50 FSU-12 Feb : 15.17 86.07 4.44 21.56 73.90 17.99 13.79 Mar : 15.17 86.02 4.44 21.56 73.90 17.99 13.74 Russia Feb : 3.81 44.90 1.20 14.10 37.10 10.00 2.81 Mar : 3.81 44.90 1.20 14.10 37.10 10.00 2.81 Kazakhstan Feb : 4.28 13.50 0.02 2.80 8.10 5.00 4.70 Mar : 4.28 13.50 0.02 2.80 8.10 5.00 4.70 Ukraine Feb : 2.41 14.00 0.10 2.10 11.50 2.80 2.21 Mar : 2.41 14.00 0.10 2.10 11.50 2.80 2.21 =============================================================================== 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-444-20 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/ : 139.89 1014.01 101.19 641.33 975.89 101.65 178.01 United States : 28.76 319.42 2.24 165.86 240.22 51.41 58.80 Total foreign : 111.13 694.59 98.95 475.47 735.67 50.25 119.21 Major exporters 4/ : 10.47 75.13 3.04 36.62 50.04 24.89 13.70 Argentina : 0.95 24.90 0.01 6.60 9.06 15.24 1.56 Australia : 2.25 11.57 0.00 5.61 6.88 4.62 2.32 Canada : 4.08 26.45 2.47 19.21 23.80 2.85 6.34 Major importers 5/ : 32.90 225.04 76.28 214.26 283.41 4.61 46.19 EU-25 6/ : 12.62 150.21 3.68 106.54 138.82 4.01 23.69 Japan : 1.85 0.20 19.71 15.05 19.88 0.00 1.88 Mexico : 5.77 28.95 8.98 22.13 38.28 0.03 5.40 N. Afr & Mideast 7/: 6.16 28.34 20.29 39.11 46.17 0.06 8.56 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 1.69 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 : 1.71 29.05 0.64 19.78 24.91 2.38 4.11 FSU-12 : 5.96 62.97 1.06 38.11 54.64 8.10 7.26 Russia : 2.93 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/ : 178.01 977.54 104.04 635.00 989.14 107.48 166.41 United States : 58.80 298.76 2.06 162.99 244.73 60.13 54.77 Total foreign : 119.21 678.78 101.98 472.01 744.42 47.35 111.65 Major exporters 4/ : 13.70 66.31 3.22 36.96 50.11 20.74 12.39 Argentina : 1.56 19.22 0.00 6.86 9.42 10.50 0.86 Australia : 2.32 13.74 0.00 5.88 7.16 5.64 3.27 Canada : 6.34 26.04 1.99 19.51 23.96 4.08 6.33 Major importers 5/ : 46.19 202.41 78.03 209.60 278.54 5.10 43.00 EU-25 6/ : 23.69 132.08 3.48 100.31 132.45 3.82 22.99 Japan : 1.88 0.19 19.77 15.16 19.99 0.00 1.84 Mexico : 5.40 25.83 9.94 21.20 37.61 0.21 3.36 N. Afr & Mideast 7/: 8.56 26.54 18.78 38.78 45.66 0.87 7.35 Saudi Arabia : 2.71 0.20 8.47 8.00 8.19 0.00 3.20 Southeast Asia 8/ : 1.69 17.18 4.41 15.03 20.89 0.20 2.19 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 : 4.11 26.80 0.73 19.26 24.86 2.58 4.21 FSU-12 : 7.26 55.17 1.15 33.60 49.57 8.46 5.55 Russia : 2.67 27.60 0.61 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-444-21 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/ : February : 166.44 967.21 103.28 639.33 1014.36 109.01 119.28 March : 166.41 966.70 105.44 640.76 1014.47 110.85 118.65 United States : February : 54.77 280.11 2.52 157.83 253.46 61.54 22.40 March : 54.77 280.11 2.52 157.83 253.46 61.54 22.40 Total foreign : February : 111.67 687.09 100.77 481.50 760.90 47.48 96.89 March : 111.65 686.59 102.93 482.93 761.01 49.32 96.25 Major exporters 4/ : February : 12.69 66.60 2.70 37.40 51.35 21.78 8.86 March : 12.39 63.67 3.70 36.64 50.57 21.42 7.77 Argentina Feb : 1.36 25.57 0.00 7.71 10.37 14.91 1.66 Mar : 0.86 26.07 0.00 7.71 10.37 14.91 1.66 Australia Feb : 3.27 7.56 0.00 5.89 7.12 2.55 1.17 Mar : 3.27 6.67 0.00 5.33 6.55 2.24 1.16 Canada Feb : 6.33 23.49 2.07 19.04 24.26 3.55 4.09 Mar : 6.33 23.49 2.07 18.94 24.16 3.65 4.09 Major importers 5/ : February : 42.72 201.09 78.49 213.44 283.16 4.33 34.82 March : 43.00 201.62 79.66 214.84 284.57 4.73 34.98 EU-25 6/ Feb : 22.66 126.42 4.90 102.00 134.43 3.81 15.74 Mar : 22.99 126.46 5.55 102.70 135.12 4.21 15.67 Japan Feb : 1.84 0.17 19.52 14.99 19.92 0.00 1.61 Mar : 1.84 0.17 19.52 14.99 19.92 0.00 1.61 Mexico Feb : 3.36 29.13 9.90 22.08 38.58 0.00 3.81 Mar : 3.36 29.13 10.40 22.58 39.08 0.00 3.81 N Afr/M.East 7/Feb : 7.40 27.83 19.11 39.92 47.27 0.30 6.78 Mar : 7.35 27.83 19.11 39.92 47.27 0.30 6.73 Saudi Arabia Feb : 3.20 0.20 7.50 7.83 8.01 0.00 2.89 Mar : 3.20 0.20 7.50 7.83 8.01 0.00 2.89 S.-east Asia 8/Feb : 2.19 16.93 4.06 15.27 20.93 0.23 2.02 Mar : 2.19 17.42 4.06 15.47 21.13 0.23 2.30 South Korea Feb : 1.35 0.33 8.87 6.85 9.23 0.00 1.32 Mar : 1.35 0.33 8.87 6.85 9.23 0.00 1.32 Selected other : China Feb : 35.81 151.44 2.14 104.97 151.38 4.03 33.98 Mar : 35.81 151.44 2.14 104.97 151.38 4.03 33.98 Other Europe Feb : 4.22 23.97 0.65 18.59 24.05 2.53 2.25 Mar : 4.21 23.97 0.65 18.59 24.05 2.53 2.24 FSU-12 Feb : 5.55 58.64 0.96 35.66 51.33 8.08 5.74 Mar : 5.55 58.74 0.96 35.66 51.33 8.38 5.54 Russia Feb : 1.39 30.20 0.63 18.50 28.50 2.10 1.62 Mar : 1.39 30.20 0.63 18.50 28.50 2.10 1.62 Ukraine Feb : 2.42 19.18 0.07 10.35 13.83 5.30 2.54 Mar : 2.42 19.18 0.07 10.25 13.73 5.60 2.34 =============================================================================== 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-444-22 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/ : 103.47 712.21 77.11 471.53 685.06 78.17 130.61 United States : 24.34 299.91 0.28 156.43 224.65 46.18 53.70 Total foreign : 79.13 412.29 76.84 315.10 460.41 31.99 76.92 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 97.52 47.22 100.52 140.09 0.70 16.91 Egypt : 0.48 5.84 5.40 9.50 11.30 0.00 0.42 EU-25 6/ : 2.94 52.97 2.97 42.00 51.70 0.16 7.01 Japan : 1.04 0.00 16.49 12.00 16.50 0.00 1.03 Mexico : 4.46 22.05 5.95 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 16.53 20.12 1.76 3.42 FSU-12 : 1.36 15.39 0.55 11.01 12.71 2.42 2.17 Ukraine : 0.84 8.80 0.01 5.30 6.00 2.33 1.32 : : 2005/06 (Estimated) : World 3/ : 130.61 695.40 78.93 474.99 701.62 81.11 124.40 United States : 53.70 282.31 0.23 156.00 231.72 54.55 49.97 Total foreign : 76.92 413.09 78.71 318.99 469.90 26.57 74.43 Major exporters 4/ : 4.15 22.74 1.10 8.90 15.20 10.50 2.28 Argentina : 0.96 15.80 0.00 4.40 6.20 10.00 0.56 South Africa : 3.19 6.94 1.10 4.50 9.00 0.50 1.73 Major importers 5/ : 16.91 91.29 48.29 97.91 137.35 0.51 18.62 Egypt : 0.42 5.86 4.40 8.40 10.20 0.00 0.47 EU-25 6/ : 7.01 48.84 3.14 39.20 48.70 0.12 10.16 Japan : 1.03 0.00 16.62 12.10 16.60 0.00 1.05 Mexico : 4.53 19.50 6.79 12.40 27.90 0.21 2.71 Southeast Asia 7/ : 1.66 16.98 4.40 14.85 20.70 0.18 2.16 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 33.00 39.50 4.20 3.19 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 : 3.42 22.18 0.45 16.18 20.29 2.12 3.63 FSU-12 : 2.17 13.15 0.62 10.12 11.76 2.54 1.63 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-444-23 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/ : February : 124.51 692.42 80.71 479.03 728.98 86.45 87.95 March : 124.40 693.15 82.71 480.92 729.75 87.84 87.79 United States : February : 49.97 267.60 0.25 151.77 241.56 57.15 19.10 March : 49.97 267.60 0.25 151.77 241.56 57.15 19.10 Total foreign : February : 74.54 424.82 80.46 327.26 487.42 29.30 68.85 March : 74.43 425.55 82.46 329.15 488.19 30.69 68.69 Major exporters 4/ : February : 2.58 30.50 0.50 9.60 16.00 14.75 2.83 March : 2.28 28.50 1.50 9.50 15.90 14.60 1.78 Argentina Feb : 1.06 21.00 0.00 5.10 7.00 14.00 1.06 Mar : 0.56 21.50 0.00 5.10 7.00 14.00 1.06 South Africa Feb : 1.53 9.50 0.50 4.50 9.00 0.75 1.78 Mar : 1.73 7.00 1.50 4.40 8.90 0.60 0.73 Major importers 5/ : February : 18.40 88.62 50.15 100.80 140.77 0.35 16.05 March : 18.62 89.08 51.15 102.00 141.98 0.40 16.48 Egypt Feb : 0.47 5.87 4.80 8.60 10.60 0.00 0.54 Mar : 0.47 5.87 4.80 8.60 10.60 0.00 0.54 EU-25 6/ Feb : 9.94 43.90 4.00 40.50 50.30 0.15 7.39 Mar : 10.16 43.88 4.50 41.00 50.80 0.20 7.54 Japan Feb : 1.05 0.00 16.50 12.00 16.60 0.00 0.95 Mar : 1.05 0.00 16.50 12.00 16.60 0.00 0.95 Mexico Feb : 2.71 22.00 7.50 13.40 29.00 0.00 3.21 Mar : 2.71 22.00 8.00 13.90 29.50 0.00 3.21 S.-east Asia 7/Feb : 2.16 16.73 4.05 15.10 20.75 0.20 1.99 Mar : 2.16 17.22 4.05 15.30 20.95 0.20 2.28 South Korea Feb : 1.35 0.07 8.80 6.80 8.90 0.00 1.32 Mar : 1.35 0.07 8.80 6.80 8.90 0.00 1.32 Selected other : Brazil Feb : 3.19 46.00 0.35 34.00 40.50 5.00 4.04 Mar : 3.19 48.00 0.35 34.00 40.50 6.50 4.54 Canada Feb : 2.00 9.30 2.00 8.50 11.50 0.20 1.60 Mar : 2.00 9.30 2.00 8.50 11.50 0.20 1.60 China Feb : 35.26 143.00 0.10 103.00 141.00 4.00 33.36 Mar : 35.26 143.00 0.10 103.00 141.00 4.00 33.36 Other Europe Feb : 3.61 19.81 0.32 15.68 19.66 2.28 1.80 Mar : 3.63 19.81 0.32 15.68 19.66 2.28 1.82 FSU-12 Feb : 1.63 12.73 0.50 10.29 11.93 1.13 1.80 Mar : 1.63 12.83 0.50 10.39 12.03 1.13 1.80 Ukraine Feb : 0.92 6.40 0.00 4.50 5.25 1.00 1.07 Mar : 0.92 6.40 0.00 4.50 5.25 1.00 1.07 =============================================================================== 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-444-24 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/ : 85.39 400.47 26.31 407.72 28.36 78.15 United States : 0.76 7.46 0.42 3.94 3.50 1.21 Total foreign : 84.63 393.01 25.89 403.79 24.86 76.94 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 60.23 9.25 68.52 0.57 12.94 Brazil : 1.34 9.00 0.55 8.86 0.28 1.75 EU-25 6/ : 0.97 1.87 1.00 2.53 0.18 1.14 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/ : 78.15 417.03 26.41 413.34 28.07 81.84 United States : 1.21 7.11 0.54 3.81 3.69 1.37 Total foreign : 76.94 409.92 25.86 409.53 24.38 80.47 Major exporters 4/ : 15.18 138.31 0.40 115.53 18.87 19.49 India : 8.50 91.79 0.00 85.22 3.80 11.27 Pakistan : 0.20 5.55 0.00 2.56 3.00 0.20 Thailand : 2.31 18.20 0.05 9.50 7.38 3.69 Vietnam : 4.16 22.77 0.35 18.25 4.69 4.34 Major importers 5/ : 12.94 59.93 10.95 69.66 0.47 13.69 Brazil : 1.75 7.87 0.75 8.97 0.25 1.15 EU-25 6/ : 1.14 1.73 1.10 2.55 0.16 1.26 Indonesia : 3.45 34.96 0.55 35.80 0.00 3.16 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 0.51 0.49 0.00 0.22 China : 38.93 126.41 0.65 128.00 1.22 36.78 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 0.58 0.78 0.00 0.16 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-444-25 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/ : February : 81.29 415.27 27.34 417.71 29.12 78.85 March : 81.84 414.95 27.36 417.73 29.14 79.07 United States : February : 1.37 6.15 0.59 3.90 3.24 0.97 March : 1.37 6.20 0.60 3.92 3.26 0.99 Total foreign : February : 79.92 409.12 26.76 413.80 25.88 77.89 March : 80.47 408.76 26.76 413.81 25.88 78.08 Major exporters 4/ : February : 18.81 137.62 0.40 118.02 20.90 17.91 March : 19.49 137.62 0.40 118.02 20.90 18.60 India Feb : 10.52 91.00 0.00 87.50 4.30 9.72 Mar : 11.27 91.00 0.00 87.50 4.30 10.47 Pakistan Feb : 0.30 5.60 0.00 2.56 3.00 0.34 Mar : 0.20 5.60 0.00 2.56 3.00 0.24 Thailand Feb : 3.65 18.25 0.10 9.46 8.70 3.84 Mar : 3.69 18.25 0.10 9.46 8.70 3.88 Vietnam Feb : 4.34 22.77 0.30 18.50 4.90 4.01 Mar : 4.34 22.77 0.30 18.50 4.90 4.01 Major importers 5/ : February : 13.72 58.79 11.42 70.24 0.33 13.36 March : 13.69 58.44 11.42 70.24 0.33 12.98 Brazil Feb : 1.15 7.70 0.85 8.95 0.13 0.62 Mar : 1.15 7.70 0.85 8.95 0.13 0.62 EU-25 6/ Feb : 1.24 1.68 1.10 2.60 0.15 1.27 Mar : 1.26 1.68 1.10 2.60 0.15 1.29 Indonesia Feb : 3.21 33.70 1.80 35.85 0.00 2.86 Mar : 3.16 33.30 1.80 35.85 0.00 2.41 Nigeria Feb : 0.55 2.80 1.60 4.45 0.00 0.50 Mar : 0.55 2.80 1.60 4.45 0.00 0.50 Philippines Feb : 5.29 10.00 1.85 11.30 0.00 5.84 Mar : 5.29 10.05 1.85 11.30 0.00 5.89 Sel. Mideast 7/Feb : 2.14 2.44 3.10 5.49 0.05 2.14 Mar : 2.14 2.44 3.10 5.49 0.05 2.14 Selected other : Burma Feb : 0.67 10.50 0.00 10.50 0.15 0.52 Mar : 0.67 10.50 0.00 10.50 0.15 0.52 C. Am & Car. 8/Feb : 0.15 0.07 0.45 0.50 0.00 0.17 Mar : 0.22 0.07 0.45 0.50 0.00 0.24 China Feb : 36.83 128.00 0.80 127.80 1.20 36.63 Mar : 36.78 128.00 0.80 127.80 1.20 36.58 Egypt Feb : 0.36 4.14 0.00 3.30 0.90 0.30 Mar : 0.36 4.14 0.00 3.30 0.90 0.30 Japan Feb : 2.43 7.94 0.65 8.20 0.20 2.62 Mar : 2.43 7.94 0.65 8.20 0.20 2.62 Mexico Feb : 0.18 0.18 0.60 0.80 0.00 0.16 Mar : 0.16 0.18 0.60 0.80 0.00 0.14 South Korea Feb : 1.10 4.68 0.27 4.84 0.10 1.10 Mar : 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-444-26 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 : 43.03 120.12 33.39 108.82 34.98 -1.12 53.87 United States : 3.45 23.25 0.03 6.69 14.44 0.11 5.50 Total foreign : 39.58 96.87 33.36 102.13 20.54 -1.23 48.37 Major exporters 4/ : 14.80 45.55 1.89 23.50 16.60 -0.19 22.33 Central Asia 5/ : 1.72 8.07 3/ 1.51 5.92 0.00 2.36 Afr. Fr. Zone 6/ : 1.30 4.93 3/ 0.20 4.13 0.00 1.90 S. Hemis. 7/ : 6.55 10.34 0.45 5.26 4.23 -0.20 8.04 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/ : 22.88 47.42 28.72 73.87 2.59 -1.06 23.62 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 1.65 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 : 1.90 11.14 1.76 10.75 0.56 0.03 3.46 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 : 53.87 113.94 44.00 115.80 44.67 -2.60 53.95 United States : 5.50 23.89 0.03 5.89 18.04 -0.56 6.05 Total foreign : 48.37 90.05 43.98 109.91 26.63 -2.04 47.90 Major exporters 4/ : 22.33 43.57 1.54 25.09 22.09 -0.09 20.35 Central Asia 5/ : 2.36 8.36 3/ 1.46 7.00 0.00 2.27 Afr. Fr. Zone 6/ : 1.90 4.20 3/ 0.19 4.44 0.00 1.47 S. Hemis. 7/ : 8.04 8.96 0.61 5.16 5.57 -0.10 7.00 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 19.05 0.40 16.50 3.45 0.00 8.26 Major importers 8/ : 23.62 42.93 40.09 80.39 2.86 -1.96 25.35 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 2.70 2.00 0.06 1.19 Russia : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey : 1.79 3.55 3.38 6.90 0.13 0.00 1.70 Pakistan : 3.46 9.85 1.66 11.75 0.32 0.03 2.87 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-444-27 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 : February : 54.31 116.56 40.49 121.35 39.98 -2.89 52.92 March : 53.95 116.75 39.01 121.54 38.54 -2.75 52.38 United States : February : 6.05 21.73 0.03 5.00 14.50 0.00 8.30 March : 6.05 21.73 0.02 5.00 14.00 -0.01 8.80 Total foreign : February : 48.26 94.83 40.47 116.35 25.48 -2.89 44.62 March : 47.90 95.02 39.00 116.54 24.54 -2.74 43.58 Major exporters 4/ : February : 20.71 44.71 1.86 26.49 21.93 -0.09 18.95 March : 20.35 44.87 1.96 26.81 20.95 0.06 19.37 Central Asia 5/Feb : 2.27 8.21 3/ 1.40 6.84 0.00 2.24 Mar : 2.27 8.21 3/ 1.40 6.84 0.00 2.24 Afr. Fr. Zn. 6/Feb : 1.68 4.44 3/ 0.18 4.44 0.00 1.49 Mar : 1.47 4.20 3/ 0.19 4.07 0.10 1.32 S. Hemis 7/ Feb : 7.00 8.86 0.81 5.12 4.50 -0.10 7.15 Mar : 7.00 8.76 0.91 5.13 4.20 -0.05 7.39 Australia Feb : 1.94 1.20 3/ 0.06 2.25 -0.12 0.96 Mar : 1.94 1.10 3/ 0.06 2.20 -0.07 0.86 Brazil Feb : 4.07 6.00 0.45 3.95 1.50 0.00 5.07 Mar : 4.07 6.00 0.55 3.95 1.30 0.00 5.37 India Feb : 8.41 21.00 0.50 18.00 5.00 0.00 6.91 Mar : 8.26 21.50 0.50 18.30 4.70 0.00 7.26 Major importers 8/ : February : 25.35 47.01 36.27 85.56 2.18 -2.81 23.70 March : 25.35 47.01 34.72 85.46 2.20 -2.81 22.23 Mexico Feb : 1.32 0.60 1.45 2.05 0.25 0.03 1.05 Mar : 1.32 0.60 1.50 2.05 0.25 0.03 1.10 China Feb : 15.66 30.90 15.50 50.00 0.05 -3.00 15.01 Mar : 15.66 30.90 14.00 50.00 0.05 -3.00 13.51 EU-25 9/ Feb : 1.19 1.61 2.02 2.38 1.46 0.06 0.93 Mar : 1.19 1.61 2.02 2.38 1.43 0.06 0.95 Russia Feb : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Mar : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey Feb : 1.70 4.00 3.10 7.00 0.15 0.00 1.65 Mar : 1.70 4.00 3.10 7.00 0.15 0.00 1.65 Pakistan Feb : 2.87 9.70 2.30 12.20 0.15 0.03 2.50 Mar : 2.87 9.70 2.20 12.10 0.20 0.03 2.45 Indonesia Feb : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Mar : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Thailand Feb : 0.50 0.05 2.00 2.05 0.00 0.03 0.47 Mar : 0.50 0.05 2.00 2.05 0.00 0.03 0.47 Bangladesh Feb : 0.46 0.07 2.30 2.30 0.00 0.01 0.52 Mar : 0.46 0.07 2.30 2.30 0.00 0.01 0.52 =============================================================================== 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-444-28 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/ : 38.80 215.72 63.71 175.68 205.15 64.64 48.45 United States : 3.06 85.01 0.15 46.16 51.40 29.86 6.96 Total foreign : 35.75 130.71 63.55 129.52 153.74 34.78 41.49 Major exporters 3/ : 31.18 96.05 1.20 57.54 62.04 32.59 33.80 Argentina : 15.58 39.00 0.69 27.31 28.75 9.57 16.96 Brazil : 15.51 53.00 0.48 29.25 32.10 20.14 16.75 Major importers 4/ : 3.62 19.55 51.95 53.33 68.34 0.42 6.36 China : 2.10 17.40 25.80 30.36 40.21 0.39 4.70 EU-25 : 0.90 0.79 14.54 14.00 15.35 0.01 0.87 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/ : 48.45 217.89 64.00 184.29 213.95 64.07 52.33 United States : 6.96 83.37 0.09 47.32 52.41 25.78 12.23 Total foreign : 41.49 134.53 63.90 136.97 161.53 38.29 40.10 Major exporters 3/ : 33.80 99.50 0.68 61.09 65.49 35.56 32.93 Argentina : 16.96 40.50 0.58 31.89 33.34 7.25 17.45 Brazil : 16.75 55.00 0.08 28.05 30.65 25.91 15.27 Major importers 4/ : 6.36 18.65 53.07 56.40 71.78 0.39 5.91 China : 4.70 16.35 28.32 34.50 44.54 0.35 4.47 EU-25 : 0.87 0.86 13.93 13.31 14.73 0.02 0.92 Japan : 0.26 0.23 3.96 2.82 4.19 0.00 0.25 Mexico : 0.05 0.15 3.67 3.78 3.82 0.00 0.04 : : 2006/07 (Projected) World 2/ : February : 52.23 228.40 69.21 193.33 222.78 69.63 57.43 March : 52.33 229.40 69.13 194.12 223.84 69.51 57.50 United States : February : 12.23 86.77 0.11 48.44 52.97 29.94 16.21 March : 12.23 86.77 0.11 48.44 52.97 29.94 16.20 Total foreign : February : 40.00 141.63 69.10 144.89 169.81 39.69 41.23 March : 40.10 142.63 69.02 145.68 170.87 39.57 41.30 Major exporters 3/ : February : 32.81 104.70 1.04 63.60 67.73 36.40 34.41 March : 32.93 105.70 0.84 64.10 68.47 36.45 34.56 Argentina Feb : 17.45 44.00 0.93 34.50 36.07 7.35 18.96 Mar : 17.45 44.00 0.73 35.00 36.57 7.25 18.36 Brazil Feb : 15.27 56.00 0.10 27.90 30.26 25.75 15.37 Mar : 15.27 57.00 0.10 27.90 30.37 25.90 16.10 Major importers 4/ : February : 5.91 18.55 57.04 59.86 75.70 0.39 5.41 March : 5.91 18.55 57.03 59.99 75.72 0.43 5.34 China Feb : 4.47 16.20 31.50 37.50 47.85 0.35 3.97 Mar : 4.47 16.20 31.50 37.50 47.85 0.39 3.93 EU-25 Feb : 0.92 0.92 14.14 13.67 15.05 0.01 0.91 Mar : 0.92 0.92 14.14 13.67 15.05 0.02 0.90 Japan Feb : 0.25 0.20 4.05 2.88 4.24 0.00 0.26 Mar : 0.25 0.20 4.10 2.93 4.29 0.00 0.26 Mexico Feb : 0.04 0.16 3.76 3.88 3.92 0.00 0.04 Mar : 0.04 0.16 3.78 3.90 3.94 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-444-29 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/ : 5.01 138.76 45.77 136.96 46.62 5.95 United States : 0.19 36.94 0.13 30.45 6.66 0.16 Total foreign : 4.82 101.83 45.63 106.52 39.96 5.80 Major exporters 3/ : 2.44 48.19 0.27 10.75 36.70 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 0.01 1.38 1.79 0.88 Major importers 4/ : 1.19 36.81 27.38 62.96 1.22 1.20 EU-25 : 0.85 11.01 21.72 32.23 0.51 0.85 China : 0.00 24.03 0.07 23.44 0.66 0.00 : : 2005/06 (Estimated) World 2/ : 5.95 144.93 50.28 145.33 51.40 4.43 United States : 0.16 37.41 0.13 30.10 7.32 0.29 Total foreign : 5.80 107.51 50.15 115.23 44.09 4.14 Major exporters 3/ : 3.45 51.00 0.20 11.73 40.77 2.16 Argentina : 1.00 25.02 0.00 0.72 24.19 1.10 Brazil : 1.58 21.66 0.20 9.60 12.90 0.94 India : 0.88 4.33 0.00 1.41 3.68 0.12 Major importers 4/ : 1.20 39.49 29.49 68.03 1.09 1.06 EU-25 : 0.85 10.47 22.61 32.38 0.69 0.86 China : 0.00 27.30 0.84 27.78 0.36 0.00 : : 2006/07 (Projected) World 2/ : February : 4.44 152.57 51.63 151.25 52.82 4.57 March : 4.43 152.97 51.66 151.36 53.08 4.62 United States : February : 0.29 38.48 0.15 30.75 7.89 0.27 March : 0.29 38.48 0.15 30.75 7.89 0.27 Total foreign : February : 4.16 114.09 51.48 120.49 44.93 4.30 March : 4.14 114.49 51.51 120.61 45.19 4.35 Major exporters 3/ : February : 2.16 53.92 0.28 12.34 41.55 2.46 March : 2.16 54.12 0.28 12.34 41.75 2.46 Argentina Feb : 1.10 27.05 0.00 0.63 26.45 1.08 Mar : 1.10 27.45 0.00 0.73 26.65 1.18 Brazil Feb : 0.94 21.83 0.28 10.10 11.60 1.34 Mar : 0.94 21.63 0.28 10.10 11.50 1.24 India Feb : 0.12 5.04 0.00 1.62 3.50 0.05 Mar : 0.12 5.04 0.00 1.52 3.60 0.05 Major importers 4/ : February : 1.09 42.22 29.35 70.53 1.13 1.00 March : 1.06 42.29 29.49 70.62 1.18 1.04 EU-25 Feb : 0.86 10.76 22.68 32.74 0.70 0.86 Mar : 0.86 10.76 22.58 32.62 0.73 0.86 China Feb : 0.00 29.70 0.05 29.35 0.40 0.00 Mar : 0.00 29.70 0.35 29.65 0.40 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-444-30 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/ : 2.62 32.45 8.95 31.74 9.26 3.02 United States : 0.49 8.78 0.01 7.91 0.60 0.77 Total foreign : 2.13 23.67 8.94 23.83 8.66 2.25 Major exporters 3/ : 1.25 13.14 0.18 5.64 7.69 1.25 Argentina : 0.71 5.09 0.00 0.41 4.76 0.63 Brazil : 0.37 5.55 0.00 3.09 2.41 0.42 EU-25 : 0.18 2.51 0.18 2.15 0.51 0.20 Major importers 4/ : 0.44 6.32 3.82 9.90 0.05 0.64 China : 0.34 5.42 1.73 7.20 0.04 0.25 India : 0.10 0.90 2.03 2.63 0.01 0.39 Pakistan : 0.01 0.00 0.06 0.06 0.00 0.01 : : 2005/06 (Estimated) World 2/ : 3.02 34.32 9.03 33.70 9.72 2.95 United States : 0.77 9.25 0.02 8.15 0.52 1.37 Total foreign : 2.25 25.07 9.02 25.56 9.20 1.58 Major exporters 3/ : 1.25 13.71 0.74 6.47 8.32 0.90 Argentina : 0.63 6.00 0.00 0.43 5.60 0.61 Brazil : 0.42 5.33 0.03 3.20 2.47 0.10 EU-25 : 0.20 2.38 0.71 2.84 0.26 0.19 Major importers 4/ : 0.64 7.12 3.22 10.51 0.11 0.36 China : 0.25 6.15 1.52 7.61 0.11 0.20 India : 0.39 0.97 1.68 2.88 0.01 0.15 Pakistan : 0.01 0.00 0.02 0.02 0.00 0.00 : : 2006/07 (Projected) World 2/ : February : 3.64 35.71 9.59 35.65 9.98 3.32 March : 2.95 35.82 9.82 35.94 9.95 2.71 United States : February : 1.37 9.15 0.03 8.64 0.68 1.22 March : 1.37 9.15 0.01 8.64 0.68 1.21 Total foreign : February : 2.27 26.57 9.57 27.01 9.30 2.10 March : 1.58 26.68 9.81 27.30 9.27 1.50 Major exporters 3/ : February : 1.64 14.32 0.96 7.06 8.32 1.53 March : 0.90 14.35 0.98 7.04 8.29 0.91 Argentina Feb : 0.77 6.50 0.00 0.62 5.92 0.73 Mar : 0.61 6.60 0.00 0.62 6.02 0.57 Brazil Feb : 0.68 5.37 0.01 3.30 2.15 0.60 Mar : 0.10 5.30 0.03 3.28 2.03 0.13 EU-25 Feb : 0.19 2.45 0.95 3.14 0.25 0.20 Mar : 0.19 2.45 0.95 3.14 0.25 0.20 Major importers 4/ : February : 0.36 7.85 3.60 11.42 0.08 0.31 March : 0.36 7.84 3.57 11.32 0.13 0.31 China Feb : 0.20 6.70 1.70 8.31 0.08 0.22 Mar : 0.20 6.70 1.70 8.26 0.13 0.22 India Feb : 0.15 1.14 1.85 3.05 0.01 0.08 Mar : 0.15 1.14 1.85 3.05 0.01 0.08 Pakistan Feb : 0.00 0.01 0.05 0.06 0.00 0.00 Mar : 0.00 0.00 0.02 0.02 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-444-31 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 : Annual : 24683 20685 45711 35365 5504 41386 87097 7509 176.9 : 2006 : I : 6082 5335 11502 8938 1355 10418 21920 1879 45.5 II : 6724 5008 11815 9130 1440 10701 22516 1882 46.9 III : 6834 5087 11999 8884 1419 10429 22428 1894 44.7 IV : 6513 5625 12224 8801 1473 10395 22619 1917 44.6 Annual : Feb Est : 26070 20997 47409 35729 5686 41918 89327 7564 181.8 Mar Est : 26153 21055 47540 35752 5686 41943 89483 7572 181.8 : 2007 : I*: 6350 5325 11762 8750 1410 10280 22042 1855 46.2 II*: 6850 5200 12133 9050 1460 10635 22768 1875 47.5 III*: 6950 5325 12356 9100 1440 10665 23021 1925 45.3 IV*: 6425 5750 12260 9000 1470 10590 22850 1945 45.1 Annual : Feb Proj : 26640 21650 48628 36025 5780 42305 90933 7610 184.3 Mar Proj : 26575 21600 48511 35900 5780 42170 90681 7600 184.1 =============================================================================== * Projection. 1/ Commercial production for red meats; federally inspected for poultry meats. 2/ Beef, pork, veal and lamb & mutton. 3/ Broilers, turkeys and mature chicken. U.S. Quarterly Prices for Animal Products =============================================================================== Year : Choice : Barrows : : : : : and : steers :and gilts : Broilers : Turkeys : Eggs : Milk : quarter : 1/ : 2/ : 3/ : 4/ : 5/ : 6/ : =============================================================================== : Dol./cwt Dol./cwt Cents/lb. Cents/lb. Cents/doz. Dol./cwt 2005 : 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 : 86.61 46.13 65.9 89.8 89.0 13.83 Annual : Feb Est : 85.41 47.26 64.4 77.0 71.8 12.90 Mar Est : 85.41 47.26 64.4 77.0 71.8 12.90 : 2007 : I*: 90-91 46-47 74-75 70-71 103-104 14.70-14.90 II*: 85-89 46-48 74-78 72-76 85-89 14.90-15.40 III*: 81-87 44-48 72-78 75-81 79-85 15.00-15.80 IV*: 82-88 43-47 70-76 80-86 85-93 15.50-16.50 Annual : Feb Proj : 83-88 44-46 69-73 73-77 84-90 14.40-15.00 Mar Proj : 84-89 45-47 72-77 74-79 88-93 15.05-15.65 =============================================================================== *Projection. 1/ Nebraska, Direct, 1100-1300 lbs. 2/ National Base, Live equiv 51-52% lean 3/ Wholesale, 12-city average. 4/ 8-16 lbs, hens, Eastern Region. 5/ Grade A large, New York, volume buyers. 6/ Simple monthly average of prices received by farmers for all milk. May not match reported annual averages. WASDE-444-32 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 24787 3599 29023 698 571 27754 65.5 2006 Est. Feb : 571 26172 3073 29816 1150 631 28035 65.6 Mar : 571 26258 3085 29914 1153 630 28131 65.8 2007 Proj. Feb : 631 26742 3280 30653 1440 600 28613 66.3 Mar : 630 26680 3280 30590 1345 600 28645 66.4 : PORK : 2005 : 543 20705 1025 22273 2665 494 19114 50.0 2006 Est. Feb : 494 21017 1005 22516 2991 513 19012 49.3 Mar : 494 21075 989 22558 2997 514 19047 49.4 2007 Proj. Feb : 513 21670 1010 23193 3150 515 19528 50.2 Mar : 514 21620 990 23124 3150 515 19459 50.0 : TOTAL RED MEAT 5/ : 2005 : 1187 45848 4804 51839 3372 1080 47387 117.0 2006 Est. Feb : 1080 47544 4271 52895 4159 1166 47570 116.4 Mar : 1080 47679 4264 53023 4168 1166 47689 116.6 2007 Proj. Feb : 1166 48763 4484 54413 4606 1135 48672 118.0 Mar : 1166 48649 4464 54279 4507 1135 48637 117.9 : BROILERS : 2005 : 713 34986 34 35733 5203 924 29607 85.7 2006 Est. Feb : 924 35347 45 36316 5260 756 30300 86.9 Mar : 924 35369 47 36340 5272 745 30323 87.0 2007 Proj. Feb : 756 35640 48 36444 5405 750 30289 86.1 Mar : 745 35516 48 36309 5405 750 30154 85.7 : TURKEYS : 2005 : 288 5432 8 5728 570 206 4952 16.7 2006 Est. Feb : 206 5611 12 5830 546 221 5062 16.9 Mar : 206 5612 12 5829 546 218 5065 16.9 2007 Proj. Feb : 221 5704 12 5937 585 280 5072 16.8 Mar : 218 5704 12 5935 585 250 5100 16.9 : TOTAL POULTRY 6/ : 2005 : 1005 40935 42 41981 5902 1132 34947 103.7 2006 Est. Feb : 1132 41461 60 42653 5966 981 35705 105.0 Mar : 1132 41485 61 42678 5978 969 35732 105.1 2007 Proj. Feb : 981 41843 63 42887 6120 1041 35726 104.1 Mar : 969 41710 63 42741 6120 1005 35616 103.8 : RED MEAT & POULTRY: 2005 : 2192 86783 4846 93821 9274 2212 82335 220.7 2006 Est. Feb : 2212 89005 4331 95547 10125 2147 83275 221.3 Mar : 2212 89164 4325 95701 10146 2135 83421 221.7 2007 Proj. Feb : 2147 90606 4547 97300 10726 2176 84398 222.1 Mar : 2135 90359 4527 97020 10627 2140 84253 221.7 ============================================================================ 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-444-33 U.S. Egg Supply and Use =============================================================================== : : : 2006 Estimated : 2007 Projected : : :-----------------:----------------- Commodity : 2004 : 2005 : Feb : Mar : Feb : Mar =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 13.7 14.5 16.0 16.0 12.8 12.5 Production : 7440.0 7509.0 7564.0 7572.0 7610.0 7600.0 Imports : 12.7 9.0 7.0 7.1 7.2 7.2 Total supply : 7466.4 7532.5 7587.0 7595.1 7630.0 7619.7 : Use : Exports : 167.5 203.3 204.5 202.0 223.0 226.0 Hatching use : 988.1 999.8 994.0 994.0 990.0 990.0 Ending stocks : 14.5 16.0 12.8 12.5 13.0 13.0 Consumption : Total : 6296.3 6313.4 6375.7 6386.6 6404.0 6390.7 Per capita (number) : 257.1 255.4 255.6 256.0 254.4 253.9 =============================================================================== U.S. Milk Supply and Use =============================================================================== : : : 2006 Estimated : 2007 Projected Commodity : : :-----------------:----------------- : 2004 : 2005 : Feb : Mar : Feb : Mar =============================================================================== : Billion pounds Milk : Production : 170.9 176.9 181.8 181.8 184.3 184.1 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 9.4 9.5 Marketings : 169.8 175.9 180.8 180.7 183.3 183.1 Imports : 5.3 5.0 4.8 5.0 5.0 5.3 Total cml. supply : 183.4 188.0 193.6 193.7 197.7 197.9 : Fat Basis Use : Ending commercial stks : 7.2 8.0 9.4 9.5 8.6 8.6 CCC net removals 1/ : -0.1 -0.0 0.0 0.0 0.0 0.0 Commercial use 2/ : 176.4 180.0 184.2 184.2 189.1 189.3 : Skim-solids Basis Supply : Beg. commercial stocks : 8.5 8.2 9.0 9.0 9.1 9.1 Marketings : 169.8 175.9 180.8 180.7 183.3 183.1 Imports : 4.8 4.8 4.6 4.8 5.2 5.2 Total cml. supply : 183.1 188.9 194.4 194.5 197.5 197.4 : Skim-solids Basis Use : Ending commercial stks : 8.2 9.0 9.1 9.1 8.8 8.8 CCC net removals 1/ : 1.3 -1.0 0.7 0.7 0.0 0.0 Commercial use 2/ : 173.7 180.9 184.6 184.6 188.7 188.6 : : 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-444-34 U.S. Dairy Prices =============================================================================== : : : 2006 Estimated : 2007 Projected : : :-----------------:------------------ Commodity : 2004 : 2005 : Feb : Mar : Feb : Mar =============================================================================== : Dollars per pound : Product Prices 1/ : Cheese : 1.6431 1.4875 1.2470 1.2470 1.320- 1.330- : 1.390 1.390 : Butter : 1.8239 1.5405 1.2193 1.2193 1.235- 1.240- : 1.335 1.330 : Nonfat dry milk : 0.8405 0.9409 0.8874 0.8874 1.050- 1.110- : 1.110 1.160 : Dry whey : 0.2319 0.2782 0.3285 0.3285 0.455- 0.595- : 0.485 0.625 : : Dollars per cwt Milk Prices 2/ : Class III : 15.39 14.05 11.89 11.89 13.20- 14.10- : 13.90 14.70 : Class IV : 13.20 12.87 11.06 11.06 12.45- 12.95- : 13.25 13.65 : All milk 3/ : 16.05 15.14 12.90 12.90 14.35- 15.05- : 15.05 15.65 : =============================================================================== 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-444-35 Note: Tables on pages 35-37 present a 25-year record of the differences between the March projection and the final estimate. Using world wheat production as an example, changes between the March projection and the final estimate have averaged 2.5 million tons (0.5%) ranging from -8.0 to 6.9 million tons. The March projection has been below the estimate 17 times and above 8 times. Reliability of March 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 : 0.5 2.5 -8.0 6.9 17 8 U.S. : 0.1 0.1 -0.2 0.1 11 6 Foreign : 0.5 2.5 -8.0 6.9 16 8 Exports : World : 2.6 2.9 -9.0 3.5 20 5 U.S. : 2.4 0.8 -1.4 2.4 12 13 Foreign : 3.2 2.6 -7.7 2.5 17 7 Domestic use : World : 0.7 3.9 -9.4 8.1 11 14 U.S. : 3.0 0.9 -2.4 2.4 11 14 Foreign : 0.7 3.3 -7.9 7.6 14 10 Ending stocks : World : 3.4 4.5 -11.4 9.1 17 8 U.S. : 5.9 1.1 -4.4 2.5 14 11 Foreign : 3.3 3.4 -10.2 9.8 15 8 : COARSE GRAINS 3/ : Production : World : 0.9 7.5 -17.3 10.9 20 5 U.S. : 0.1 0.1 -0.2 1.3 11 6 Foreign : 1.2 7.1 -17.3 10.9 19 5 Exports : World : 3.3 3.4 -7.5 9.9 15 10 U.S. : 6.1 3.1 -6.9 9.1 11 14 Foreign : 5.2 2.8 -10.3 6.7 14 10 Domestic use : World : 0.9 7.3 -17.1 24.2 15 10 U.S. : 2.3 4.2 -17.3 11.5 12 13 Foreign : 0.9 5.7 -14.1 17.5 16 8 Ending stocks : World : 7.0 9.7 -28.2 13.9 20 5 U.S. : 7.9 4.5 -13.8 15.3 15 10 Foreign : 8.4 6.7 -27.0 10.5 20 4 : RICE, milled : Production : World : 1.1 3.8 -13.7 3.4 18 7 U.S. : 0.9 0.1 -0.2 0.2 9 4 Foreign : 1.0 3.2 -9.9 3.3 17 7 Exports : World : 6.6 1.3 -4.5 1.2 22 3 U.S. : 5.3 0.2 -0.5 0.3 14 8 Foreign : 7.1 1.1 -4.4 1.1 20 4 Domestic use : World : 0.8 2.9 -9.8 4.8 18 7 U.S. : 5.3 0.1 -0.3 0.4 9 15 Foreign : 0.8 2.7 -10.0 4.6 17 7 Ending stocks : World : 6.6 3.3 -14.9 4.0 17 8 U.S. : 16.4 0.2 -0.4 0.4 13 12 Foreign : 6.1 2.8 -14.5 3.9 16 8 =============================================================================== 1/ Footnotes at end of table. CONTINUED WASDE-444-36 Reliability of March 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 : 1.8 2.6 -4.2 10.8 14 11 U.S. : 0.9 0.6 -1.6 1.8 10 11 Foreign : 2.9 2.3 -4.6 10.3 14 10 Exports : World : 4.1 1.8 -6.1 9.6 15 9 U.S. : 5.1 1.1 -2.3 3.0 17 8 Foreign : 13.2 1.9 -5.5 9.5 10 14 Domestic use : World : 1.8 2.4 -5.3 11.4 14 11 U.S. : 2.5 1.0 -3.0 2.0 17 7 Foreign : 1.9 1.8 -3.9 12.8 12 12 Ending stocks : World : 12.0 2.9 -6.6 13.9 14 11 U.S. : 22.6 1.7 -2.7 5.4 6 19 Foreign : 12.8 2.2 -6.3 9.7 16 8 : COTTON : Million 480-pound bales Production : World : 1.2 1.1 -2.9 3.0 15 8 U.S. : 0.6 0.1 -0.2 0.3 10 14 Foreign : 1.4 1.0 -3.2 2.9 15 8 Exports : World : 3.2 0.9 -3.1 1.4 12 12 U.S. : 4.9 0.4 -1.2 0.9 10 14 Foreign : 4.0 0.8 -3.6 1.3 14 10 Mill use : World : 1.5 1.3 -6.0 1.3 13 12 U.S. : 3.1 0.2 -0.7 0.6 16 7 Foreign : 1.6 1.2 -5.5 1.4 14 10 Ending stocks : World : 6.6 2.3 -3.9 8.4 15 10 U.S. : 10.8 0.5 -1.2 1.6 8 17 Foreign : 7.3 2.2 -4.8 7.9 16 8 =============================================================================== 1/ Final estimate for 1981/82-2005/06 is defined as the first November estimate following the marketing year. 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-444-37 Reliability of United States March 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 : 0.0 2 -8 38 1 1 Exports : 6.3 110 -254 284 10 15 Domestic use : 2.4 146 -474 345 13 12 Ending stocks : 9.3 177 -535 713 16 9 : SORGHUM : Production : 0.0 0 0 4 0 2 Exports : 12.0 28 -90 72 15 9 Domestic use : 8.7 37 -178 100 11 14 Ending stocks : 29.5 31 -69 148 12 13 : BARLEY : Production : 0.3 1 -3 11 11 4 Exports : 11.8 7 -20 13 8 15 Domestic use : 4.8 18 -30 70 11 12 Ending stocks : 10.1 16 -53 24 16 9 : OATS : Production : 0.1 0 -2 1 4 3 Exports : 17.0 1 -1 3 3 4 Domestic use : 2.9 11 -26 36 13 12 Ending stocks : 10.2 12 -47 21 13 12 : : Thousand short tons SOYBEAN MEAL : Production : 2.4 768 -2328 717 19 6 Exports : 7.6 524 -1750 941 20 5 Domestic use : 1.9 480 -1106 691 18 7 Ending stocks : 30.2 74 -214 208 11 13 : : Million pounds SOYBEAN OIL : Production : 2.3 352 -1173 365 19 6 Exports : 13.6 214 -700 664 13 11 Domestic use : 1.5 201 -685 245 18 7 Ending stocks : 15.7 251 -692 350 15 10 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 2.5 623 -907 1613 16 7 Pork : 2.4 404 -1265 1667 16 7 Broilers : 1.4 316 -605 496 15 8 Turkeys : 2.0 90 -177 161 11 12 : : Million dozen Eggs : 1.2 72 -120 169 16 7 : : Billion pounds Milk : 1.3 2.0 -4.9 5.2 14 9 =============================================================================== 1/ See pages 35 and 36 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-2005/06 is defined as the first November estimate following the marketing year. 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 ----------------