ISSN:1554-9089 WASDE-448 July 12, 2007 Note: This report adopts U.S. area, yield, and production forecasts for winter wheat, durum, other spring wheat, barley, and oats released today by the National Agricultural Statistics Service (NASS). For other crops, area estimates reflect the June 29 NASS Acreage report, and methods used to project yield are noted on each table. Survey-based production forecasts reported by NASS will be adopted in the August 10 issue of this report. WHEAT: U.S. wheat supplies for 2007/08 are projected 10 million bushels higher this month as higher carryin more than offsets a 29-million-bushel reduction in forecast production. Forecast winter wheat production is lowered 48 million bushels as heavy June rains reduced yields in Kansas and Oklahoma. Lower hard red winter (HRW) wheat production is partly offset by higher soft red winter (SRW) wheat production. The first survey-based forecast of spring wheat (including durum) production is 576 million bushels, up 12 percent from last year, and up 18 million bushels from last month's projection. Wheat feed and residual use is lowered 15 million bushels this month based on higher expected prices. Exports for 2007/08 are raised 50 million bushels as reduced supplies in major exporting countries provide more opportunities for U.S. wheat sales. The projected season-average farm price range is raised 30 cents on each end to $4.80 to $5.40 per bushel, well above the 2006/07 estimate of $4.26 per bushel and the 1995/96 record of $4.55 per bushel. Global 2007/08 wheat production is projected 2.1 million tons higher this month, mostly reflecting higher expected production for China. Harvested area and yield are both raised this month for China leaving projected production up 5 million tons. Production in the four major export competitor countries, however, is projected 1.8 million tons lower with major reductions for Canada and EU-27 more than offsetting an increase for Australia. A 2-million-ton reduction for Canada is based on reduced planted area this spring and is consistent with a similar downward revision to 2006/07 production. EU-27 production for 2007/08 is projected 0.7 million tons lower reflecting reduced production prospects mostly in eastern Europe and Greece. Australia production is raised 0.9 million tons reflecting improved rainfall, particularly in the eastern growing areas of the country since early June. Production is lowered for FSU-12 with reductions for Ukraine and Moldova only partly offset by an increase for Kazakhstan. World exports for 2007/08 are increased only slightly this month as increases for Australia, Kazakhstan, and the United States are nearly offset by reductions for Canada, Ukraine, and Syria. World wheat feeding is lowered 0.9 million tons mainly reflecting reductions in Canada and EU-27. Global ending stocks are projected 4.5 million tons higher this month, mostly reflecting a projected 4.4-million-ton increase for China. Global ending stocks remain at their lowest level since 1981/82. COARSE GRAINS: This month's outlook for 2007/08 U.S. feed grains is for sharply higher supplies as carryin and production both rise. Corn supplies for 2007/08 are projected at 14 billion bushels as a 2.5- million-acre increase in harvested area raises corn production 380 million bushels from last month and reductions in 2006/07 use raise beginning stocks 150 million bushels. The increase in 2007 corn production is based on planted and harvested area estimated in the June 29 Acreage report. Exports for 2007/08 are raised 25 million bushels as larger domestic supplies, lower prices, and reduced foreign exports boost prospects for U.S. corn shipments. Ending stocks are raised to 1.5 billion bushels, up 505 million from last month. The season-average farm price is projected 30 cents lower on both ends of the range at $2.80 to $3.40 per bushel. Sorghum production for 2007/08 is raised sharply this month reflecting increased area from the Acreage report. The first survey-based forecasts for barley and oats production reported in the July Crop Production report put barley production higher, but oats production lower than projected last month. Feed and residual use for sorghum and barley are raised as larger supplies and lower prices are expected to increase feeding. The projected farm prices for sorghum and oats are lowered in line with changes to corn. The barley farm price is also projected lower, but strong contract prices for malting barley are moderating the decline. Corn ending stocks for the 2006/07 marketing year are projected 150 million bushels higher at 1.1 billion. Feed and residual use is lowered 100 million bushels largely reflecting the corn disappearance indicated in the June 29 Grain Stocks report. Exports are lowered 50 million bushels reflecting the lagging pace of export shipments even as export sales and outstanding balances indicate strong demand for old- crop supplies. The global outlook for 2007/08 coarse grains this month is being driven largely by increased corn output in the United States. Global coarse grain production is raised 9.3 million tons. Higher U.S. corn, sorghum, and barley production more than offset reduced corn and barley prospects in the FSU-12 countries and lower corn production for EU-27 and Canada. EU-27 barley production is raised, but reductions in oats and rye leave EU-27 coarse grain production down 0.6 million tons this month. China corn production is raised 2 million tons to 148 million as higher area and improved yield prospects are expected to boost output. Barley production for Australia is also raised 0.7 million tons based on improved rainfall during June. A decrease in Ukraine corn exports is partly offset by higher projected corn exports from the United States. Lower Ukraine barley exports are offset by increases for Australia and EU-27. With higher world production and lower consumption, global coarse grain ending stocks are projected sharply higher mainly reflecting an 18 percent increase in corn stocks. RICE: U.S. rice production in 2007/08 is projected at 190 million cwt, nearly 4 percent above last month, but 2 percent below 2006/07. Estimated harvested area of 2.726 million acres reported in the June 29 Acreage report is about 4 percent higher than last month, but 3 percent below 2006/07. The yield for 2007/08 is projected at 6,970 pounds per acre, nearly the same as last month, but 102 pounds per acre above 2006/07. Long-grain rice production is projected at 139.5 million cwt, 4 percent above last month, but 5 percent below 2006/07. Combined medium- and short-grain rice production is projected at 50.5 million cwt, 3 percent above last month, and 6 percent higher than 2006/07. Exports for 2007/08 are projected at 102 million cwt, up 6 million cwt from last month. The entire increase is in the long-grain rice class and in the milled rice export category. Projected domestic and residual use of rice for 2007/08 is unchanged from a month ago. Ending stocks are projected at 26.7 million cwt, 4 percent above last month, but 36 percent below 2006/07. The season-average farm price range for 2007/08 is lowered 25 cents per cwt on each end to $9.75 to $10.25 per cwt compared to a revised $9.68 per cwt for 2006/07. Global 2007/08 rice production, consumption, and exports are lowered slightly from last month while imports and ending stocks are raised fractionally. Production is lowered for Australia and Cuba and raised for the United States and the Dominican Republic. The export projections are reduced for Australia and Vietnam and increased for the United States. Ending stocks are raised slightly and projected at 72.0 million tons, down 3.6 million tons from last year. OILSEEDS: U.S. oilseed ending stocks for 2007/08 are projected at 7.6 million tons, down 2.1 million tons from last month. Oilseed production is projected at 80.2 million tons, down 3.8 million tons. Reduced soybean, cottonseed, peanut, and canola production account for the reduction. Soybean production is projected at 2,625 million bushels, down 120 million bushels because harvested area reported in the June 29 Acreage report is 2.8 million acres below last month's projection. Lower production and reduced carryin leave 2007/08 soybean stocks at 245 million bushels, down 75 million from last month. Prices for soybeans and soybean products are raised this month. The U.S. season-average soybean price for 2007/08 is projected at $7.25 to $8.25 per bushel, up 60 cents on both ends of the range reflecting the impact of the lower production estimate and forward pricing opportunities for new crop soybeans. Soybean meal prices are projected at $200 to $230 per short ton, up 15 dollars on both ends. Soybean oil prices are projected at 32 to 36 cents per pound, up 1.5 cents on both ends of the range. Global oilseed production for 2007/08 is reduced 3.2 million tons to 395.7 million tons. Foreign production is projected up 0.6 million tons to 315.5 million tons. Rapeseed production is reduced for China based on lower harvested area. Rapeseed production is raised for the EU-27 due to increased harvested area. Other changes include increased cottonseed production for China. Global oilseed production for 2006/07 is increased mainly due to a 0.7-million-ton increase in the Argentina soybean crop. The crop is estimated at a record 47.2 million tons based on higher yield indications. U.S. soybean crush for 2006/07 is projected at 1,780 million bushels, up 10 million bushels. Increased crush reflects stronger-than-expected domestic soybean meal disappearance through May. Soybean exports are raised 10 million bushels to 1,090 million. Combined seed and residual are reduced 10 million this month. Ending stocks for 2006/07 are projected at 600 million bushels, down 10 million bushels from last month. SUGAR: Projected 2007/08 U.S. sugar supply is decreased 40,000 tons, raw value, from last month, due to lower beginning stocks more than offsetting higher production. Processor projections compiled by the Farm Service Agency put 2007/08 production at 8.29 million tons, up 37,000 from last month's projection. Sugar use is unchanged. For 2006/07, estimated shortfall in tariff rate quota imports is increased 25,000 tons. Exports and deliveries to manufacturers for re-export products are increased 25,000 tons each, based on pace to date. These and minor changes in production estimates reduce ending stocks 77,000 tons. LIVESTOCK, POULTRY, AND DAIRY: The forecasts for total U.S. meat production in 2007 and 2008 are raised from last month, primarily due to higher expected pork output. The June 29 Quarterly Hogs and Pigs report indicated that producers continue to slowly expand herds, which is expected to result in higher hog slaughter and increased pork production for both 2007 and 2008. The beef production forecast for 2007 is reduced slightly due to lower estimated second-quarter output. The July 20 USDA Cattle report will provide a first estimate of the 2007 calf crop as well as heifer retention. Broiler production is raised slightly for both 2007 and 2008; turkey production is unchanged. The beef export forecast for 2007 is raised to reflect improved sales. Beef imports are reduced as relatively high domestic cow slaughter has limited imports of processing beef. Pork export forecasts for both 2007 and 2008 are lowered due to weaker-than- expected sales in a number of markets. Pork imports are increased. Broiler export forecasts are unchanged from last month. Forecasts for 2007 cattle and broiler prices are reduced slightly, reflecting lower estimated second quarter prices. Hog prices for 2007 and 2008 are reduced as higher forecast production coupled with weaker exports is expected to pressure prices. Turkey prices for 2007 and 2008 are raised as firm demand for turkey meat, combined with moderate production growth, tighten stocks and support prices. The egg price forecast is raised slightly for 2007. Milk production and use forecasts are virtually unchanged for both 2007 and 2008. Cow numbers are forecast higher than last month as producers are expected to respond to favorable returns, but output per cow is reduced slightly as growth continues to lag expectations. The July 20 USDA Cattle report will provide further indications of producer expansion plans. Dairy prices remain strong as both domestic and international demand remains firm. Cheese and nonfat dry milk (NDM) price forecasts are raised from last month, but butter prices are forecast lower. Class III and Class IV price forecasts are raised due to higher cheese and NDM prices. However, the increase in Class IV prices is moderated by the lower forecast for butter. The forecast for all milk is also raised. In 2007, the all milk price is forecast to average a record $19.00 to $19.30 per cwt, and then decline to $18.20 to $19.20 per cwt in 2008. COTTON: This month's 2007/08 U.S. cotton projections include lower production, exports, and ending stocks relative to last month. Production is reduced 1.3 million bales, due mainly to lower planted area included in the Acreage report. Harvested acres are projected at 10.5 million, reflecting an abandonment rate of about 5 percent. The abandonment rate is lowered from last month because adverse weather conditions in Texas reduced planted acres, and the proportion to be harvested will likely be above previous expectations. The yield per harvested acre is adjusted slightly from the 3-year average due to severe drought in parts of the Southeast. Domestic mill use is unchanged from last month. Both exports and ending stocks are reduced consistent with the lower available supply. The world 2007/08 projections show sharply lower production occurring mainly in major exporting countries, which is about offset by a statistical adjustment in China's production. Production is reduced in the United States, the African Franc Zone, Australia, and Turkey, but raised in Egypt. China's production is raised for 4 years from 2004/05 through 2007/08. USDA has heretofore relied on production estimates reported by China's National Bureau of Statistics (NBS); however, other information from government and industry sources within China now indicates that the NBS estimates have understated production in the Xinjiang Autonomous Region. For a detailed explanation of the China production changes, see http://www.fas.usda.gov/psdonline/circulars/cotton.pdf . World consumption is reduced slightly, due mainly to lower consumption by Pakistan, which is partly offset by increases for several countries. A slight reduction in world trade is attributable mainly to lower imports by China and lower exports by the United States. World stocks are projected about 1 percent below last month. Discrepancies have recently been identified to the Foreign Agricultural Service in the reporting of export sales and shipments for extra long staple (ELS) cotton; these discrepancies affect the distribution of exports between upland and ELS cotton, but not total cotton exports. For 2006/07, the discrepancies were corrected in the U.S. Export Sales report issued on July 6. Similar corrections in the ELS export data for 2003/04 through 2005/06 appear this month in the special upland and ELS cotton table, which will be posted before noon on July 12 at http://www.usda.gov/oce/commodity/wasde/index.htm . 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. 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WASDE-448-8 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/ : 2005/06 : 2,019.00 2,422.90 253.07 2,032.88 390.02 2006/07 (Est.) : 1,986.46 2,376.48 244.79 2,045.87 330.61 2007/08 (Proj.) : June : 2,087.40 2,410.15 243.06 2,104.83 305.32 July : 2,098.70 2,429.31 242.81 2,103.48 325.83 Wheat : 2005/06 : 622.64 773.65 115.61 624.49 149.16 2006/07 (Est.) : 592.98 742.14 107.09 617.99 124.15 2007/08 (Proj.) : June : 610.15 732.10 107.42 620.07 112.03 July : 612.27 736.42 107.57 619.87 116.55 Coarse grains 4/ : 2005/06 : 978.31 1,156.18 107.38 992.58 163.60 2006/07 (Est.) : 977.11 1,140.71 108.40 1,009.83 130.88 2007/08 (Proj.) : June : 1,056.36 1,181.74 105.79 1,060.21 121.53 July : 1,065.63 1,196.50 105.45 1,059.21 137.29 Rice, milled : 2005/06 : 418.04 493.06 30.08 415.81 77.26 2006/07 (Est.) : 416.37 493.63 29.31 418.04 75.58 2007/08 (Proj.) : June : 420.88 496.31 29.85 424.55 71.76 July : 420.81 496.39 29.79 424.40 71.99 : : United States Total grains 3/ : 2005/06 : 363.16 442.69 91.28 279.73 71.68 2006/07 (Est.) : 335.67 413.71 85.15 282.71 45.86 2007/08 (Proj.) : June : 397.36 444.72 84.98 317.99 41.75 July : 408.04 459.94 87.17 318.30 54.48 Wheat : 2005/06 : 57.28 74.20 27.47 31.19 15.55 2006/07 (Est.) : 49.32 68.13 24.77 30.96 12.40 2007/08 (Proj.) : June : 59.00 73.05 27.22 33.78 12.06 July : 58.19 73.32 28.58 33.37 11.38 Coarse grains 4/ : 2005/06 : 298.76 359.62 60.13 244.73 54.77 2006/07 (Est.) : 280.11 337.31 57.39 247.81 32.11 2007/08 (Proj.) : June : 332.52 363.78 54.70 280.22 28.86 July : 343.77 378.52 55.33 280.94 42.25 Rice, milled : 2005/06 : 7.11 8.87 3.69 3.81 1.37 2006/07 (Est.) : 6.24 8.28 3.00 3.93 1.35 2007/08 (Proj.) : June : 5.85 7.88 3.07 3.99 0.82 July : 6.08 8.11 3.26 3.99 0.86 =============================================================================== 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-448-9 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/ : 2005/06 : 1,655.84 1,980.21 161.79 1,753.15 318.34 2006/07 (Est.) : 1,650.80 1,962.77 159.65 1,763.17 284.75 2007/08 (Proj.) : June : 1,690.03 1,965.43 158.08 1,786.84 263.57 July : 1,690.66 1,969.37 155.64 1,785.18 271.36 Wheat : 2005/06 : 565.36 699.45 88.14 593.30 133.62 2006/07 (Est.) : 543.67 674.02 82.32 587.03 111.75 2007/08 (Proj.) : June : 551.16 659.05 80.21 586.30 99.97 July : 554.07 663.10 78.99 586.50 105.18 Coarse grains 5/ : 2005/06 : 679.55 796.56 47.25 747.86 108.83 2006/07 (Est.) : 697.00 803.40 51.02 762.02 98.77 2007/08 (Proj.) : June : 723.84 817.96 51.10 779.99 92.67 July : 721.85 817.98 50.12 778.27 95.05 Rice, milled : 2005/06 : 410.93 484.19 26.39 412.00 75.89 2006/07 (Est.) : 410.13 485.35 26.31 414.11 74.23 2007/08 (Proj.) : June : 415.03 488.42 26.78 420.55 70.94 July : 414.73 488.28 26.53 420.41 71.13 =============================================================================== 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 2005/06 : 115.71 171.80 44.68 116.16 57.67 2006/07 (Est.) : 118.36 176.03 36.99 122.33 57.32 2007/08 (Proj.) : June : 115.89 172.27 41.58 127.41 51.23 July : 115.79 173.11 40.81 127.16 50.78 : United States 2005/06 : 23.89 29.41 18.04 5.87 6.05 2006/07 (Est.) : 21.59 27.66 13.00 4.90 9.80 2007/08 (Proj.) : June : 18.80 28.62 17.50 4.40 6.70 July : 17.50 27.32 17.00 4.40 5.90 : Foreign 3/ 2005/06 : 91.82 142.39 26.65 110.29 51.61 2006/07 (Est.) : 96.78 148.37 23.99 117.43 47.52 2007/08 (Proj.) : June : 97.09 143.66 24.08 123.01 44.53 July : 98.29 145.79 23.81 122.76 44.88 =============================================================================== 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-448-10 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 : 2005/06 : 391.03 447.81 76.36 318.13 64.59 2006/07 (Est.) : 405.01 469.60 82.57 331.39 71.62 2007/08 (Proj.) : June : 398.97 470.28 88.31 342.48 60.76 July : 395.73 467.35 87.92 342.87 58.44 Oilmeals : 2005/06 : 215.54 223.20 65.25 214.97 6.90 2006/07 (Est.) : 226.07 232.97 68.24 224.81 6.65 2007/08 (Proj.) : June : 234.44 241.07 71.39 232.12 6.96 July : 234.65 241.29 71.47 232.46 6.95 Vegetable Oils : 2005/06 : 117.85 127.45 46.51 115.12 9.59 2006/07 (Est.) : 121.89 131.48 48.25 121.74 8.35 2007/08 (Proj.) : June : 126.87 135.19 48.83 126.21 7.80 July : 126.89 135.24 49.08 126.47 7.68 : : United States Oilseeds : 2005/06 : 95.53 104.49 26.81 51.90 14.20 2006/07 (Est.) : 96.62 111.70 30.92 52.75 17.77 2007/08 (Proj.) : June : 84.05 102.93 30.26 52.96 9.77 July : 80.22 98.89 28.55 53.15 7.64 Oilmeals : 2005/06 : 39.96 41.83 7.63 33.85 0.36 2006/07 (Est.) : 40.75 42.79 7.87 34.59 0.33 2007/08 (Proj.) : June : 41.08 43.20 7.91 34.96 0.33 July : 41.26 43.36 7.91 35.12 0.33 Vegetable Oils : 2005/06 : 10.40 13.88 0.90 11.18 1.80 2006/07 (Est.) : 10.29 14.55 1.12 11.75 1.68 2007/08 (Proj.) : June : 10.35 14.62 1.08 12.24 1.29 July : 10.39 14.66 1.09 12.31 1.26 : : Foreign 3/ Oilseeds : 2005/06 : 295.50 343.33 49.55 266.24 50.38 2006/07 (Est.) : 308.39 357.90 51.64 278.64 53.85 2007/08 (Proj.) : June : 314.92 367.35 58.05 289.52 50.98 July : 315.51 368.46 59.37 289.73 50.80 Oilmeals : 2005/06 : 175.58 181.37 57.63 181.12 6.54 2006/07 (Est.) : 185.32 190.18 60.36 190.23 6.31 2007/08 (Proj.) : June : 193.37 197.87 63.48 197.16 6.63 July : 193.39 197.93 63.56 197.34 6.62 Vegetable Oils : 2005/06 : 107.46 113.57 45.61 103.94 7.80 2006/07 (Est.) : 111.60 116.93 47.13 109.99 6.67 2007/08 (Proj.) : June : 116.52 120.58 47.75 113.97 6.51 July : 116.51 120.59 48.00 114.16 6.43 =============================================================================== 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-448-11 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : June July =============================================================================== Area : Million acres Planted : 57.2 57.3 60.3 * 60.5 Harvested : 50.1 46.8 52.2 * 52.5 Yield per harvested : Bushels acre : 42.0 38.7 41.5 * 40.7 : Million bushels Beginning stocks : 540 571 417 456 Production : 2,105 1,812 2,168 2,138 Imports : 82 120 100 100 Supply, total : 2,727 2,503 2,684 2,694 Food : 914 925 930 930 Seed : 78 81 81 81 Feed and residual : 154 131 230 215 Domestic, total : 1,146 1,138 1,241 1,226 Exports : 1,009 910 1,000 1,050 Use, total : 2,155 2,048 2,241 2,276 Ending stocks : 571 456 443 418 CCC inventory : 43 41 Free stocks : 528 415 Outstanding loans : 42 14 Avg. farm price ($/bu) 2/ : 3.42 4.26 4.50- 5.10 4.80- 5.40 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 2006/07 (estimated) : Million bushels Beginning stocks : 215 132 106 78 40 571 Production : 682 432 390 254 53 1,812 Supply, total 3/ : 898 613 516 342 134 2,503 Domestic use : 454 245 263 98 77 1,138 Exports : 280 250 145 200 35 910 Use, total : 734 495 408 298 112 2,048 Ending stocks, total : 164 118 108 44 22 456 : 2007/08 (projected) : Beginning stocks : 164 118 108 44 22 456 Production : 964 471 364 261 79 2,138 Supply, total 3/ : 1,129 631 482 312 140 2,694 Domestic use : 546 235 245 111 89 1,226 Exports : 435 280 145 160 30 1,050 Use, total : 981 515 390 271 119 2,276 Ending stocks, total : 148 116 92 41 21 418 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning June 1. 2/ Marketing-year weighted average price received by farmers. 3/ Includes imports. * For June, winter wheat harvested acreage and yield reported in June Crop Production report. Harvested acres and yield for other spring wheat and durum are projected using 10-year harvested-to-planted ratios by state and projected yield derived from 1985-2006 trend yields by state (except Idaho durum). For July: Area planted, area harvested, yield, and production as reported in July Crop Production report. WASDE-448-12 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : June July =============================================================================== FEED GRAINS : Area : Million acres Planted : 96.4 92.5 105.3 * 108.6 * Harvested : 85.9 80.1 93.8 * 97.3 * Yield per harvested : Metric tons acre : 3.47 3.49 3.54 3.53 : Million metric tons Beginning stocks : 58.8 54.7 28.5 32.1 Production : 298.6 279.9 332.3 343.6 Imports : 1.9 2.3 2.6 2.5 Supply, total : 359.3 337.0 363.4 378.2 Feed and residual : 162.9 152.4 152.1 152.8 Food, seed & industrial : 81.5 95.1 127.8 127.8 Domestic, total : 244.4 247.5 279.9 280.6 Exports : 60.1 57.4 54.7 55.3 Use, total : 304.5 304.9 334.6 336.0 Ending stocks, total : 54.7 32.1 28.8 42.2 CCC inventory : 0.0 0.0 Free stocks : 54.7 32.1 Outstanding loans : 4.4 5.8 : CORN : Area : Million acres Planted : 81.8 78.3 90.5 * 92.9 * Harvested : 75.1 70.6 82.9 * 85.4 * Yield per harvested : Bushels acre : 148.0 149.1 150.3 * 150.3 * : Million bushels Beginning stocks : 2,114 1,967 987 1,137 Production : 11,114 10,535 12,460 12,840 Imports : 9 10 15 15 Supply, total : 13,237 12,512 13,462 13,992 Feed and residual : 6,141 5,750 5,700 5,700 Food, seed & industrial : 2,981 3,525 4,790 4,790 Ethanol for fuel 2/ : 1,603 2,150 3,400 3,400 Domestic, total : 9,122 9,275 10,490 10,490 Exports : 2,147 2,100 1,975 2,000 Use, total : 11,270 11,375 12,465 12,490 Ending stocks, total : 1,967 1,137 997 1,502 CCC inventory : 0 0 Free stocks : 1,967 1,137 Outstanding loans : 171 225 Avg. farm price ($/bu) 3/ : 2.00 3.05 3.10- 3.70 2.80- 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 ERS Feed Outlook table 5, or Feed Grains Database at www.ers.usda.gov/db/feedgrains. 3/ Marketing-year weighted average price received by farmers. * For June, planted acres reported in the March 30, 2007, Prospective Plantings report. For corn, harvested acres projected based on historical abandonment and derived demand for silage. Projected corn yield derived from an econometric model fit over 1990-2006 using a trend variable, July rainfall and temperatures, and planting progress as of mid-May adjusted for the slow start to this year's planting. For July: Area planted and harvested of corn as reported in June 29, 2007, Acreage report. Projected corn yield derived from an econometric model fit over 1990-2006 using a trend variable, July rainfall and temperatures, and planting progress as of mid-May adjusted for the slow start to this year's planting. WASDE-448-13 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : June July =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 6.5 6.5 7.1 * 7.8 * Area harv. (mil. acres) : 5.7 4.9 5.9 * 6.7 * Yield (bushels/acre) : 68.5 56.2 63.9 * 64.2 * Beginning stocks : 57 66 48 38 Production : 393 278 380 430 Imports : 0 0 0 0 Supply, total : 450 343 428 468 Feed and residual : 140 120 160 180 Food, seed & industrial : 50 45 65 65 Total domestic : 190 165 225 245 Exports : 195 140 160 160 Use, total : 384 305 385 405 Ending stocks, total : 66 38 43 63 Avg. farm price ($/bu) 2/ : 1.86 3.30 2.70- 3.30 2.40- 3.00 : BARLEY : Area planted (mil. acres) : 3.9 3.5 3.7 * 4.0 * Area harv. (mil. acres) : 3.3 3.0 3.2 * 3.5 * Yield (bushels/acre) : 64.8 61.0 65.4 * 65.2 * Beginning stocks : 128 108 68 69 Production : 212 180 210 231 Imports : 5 11 20 15 Supply, total : 346 299 298 315 Feed and residual : 52 54 50 60 Food, seed & industrial : 158 156 155 155 Total domestic : 210 209 205 215 Exports : 28 21 20 20 Use, total : 238 230 225 235 Ending stocks, total : 108 69 73 80 Avg. farm price ($/bu) 2/ : 2.53 2.85 2.85- 3.45 2.75- 3.35 : OATS : Area planted (mil. acres) : 4.2 4.2 4.0 * 3.9 * Area harv. (mil. acres) : 1.8 1.6 1.7 * 1.6 * Yield (bushels/acre) : 63.0 59.5 63.2 * 62.6 * Beginning stocks : 58 53 49 51 Production : 115 94 110 101 Imports : 91 105 105 105 Supply, total : 264 251 264 257 Feed and residual : 136 124 130 130 Food, seed & industrial : 74 74 75 75 Total domestic : 209 198 205 205 Exports : 2 2 2 2 Use, total : 211 200 207 207 Ending stocks, total : 53 51 57 50 Avg. farm price ($/bu) 2/ : 1.63 1.87 1.90- 2.50 1.60- 2.20 =============================================================================== 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. * For June-- planted acres reported in March 30, 2007, Prospective Plantings report. Harvested area - For sorghum, barley, and oats harvested acres is the four-year average harvested-to-planted ratio, 2003-2006. Yield - For sorghum the projected yield is derived from the 10-year average yield (1996-2006, excluding 2002) adjusted for rounding in production. For barley and oats the projected yield is derived from the 1960-2006 trend yield adjusted for rounding in production. For July-- Sorghum: Area planted and area harvested as reported in the June 29, 2007, Acreage report. Yield-- For sorghum the projected yield is derived from the 10-year average yield (1996-2006, excluding 2002) adjusted for rounding in production. Barley and oats: Area planted, area harvested, yield, and production as reported in July Crop Production report. WASDE-448-14 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :============================== : : Est. : June July =============================================================================== TOTAL : Area : Million acres Planted : 3.38 2.84 2.64 * 2.74 * Harvested : 3.36 2.82 2.63 * 2.73 * Yield per harvested : Pounds acre : 6,636 6,868 6,966 * 6,970 * : : Million hundredweight : Beginning stocks 2/ : 37.7 43.0 41.9 41.9 Production : 223.2 193.7 183.0 190.0 Imports : 17.1 21.0 21.5 21.5 Supply, total : 278.1 257.7 246.4 253.4 Domestic & residual 3/ : 119.3 122.8 124.7 124.7 Exports, total 4/ : 115.8 93.0 96.0 102.0 Rough : 34.1 33.5 34.0 34.0 Milled (rough equiv.) : 81.6 59.5 62.0 68.0 Use, total : 235.1 215.8 220.7 226.7 Ending stocks : 43.0 41.9 25.7 26.7 Avg. milling yield (%) 5/ : 70.2 71.0 70.5 70.5 Avg. farm price ($/cwt) 6/ : 7.65 9.68 10.00-10.50 9.75-10.25 : LONG GRAIN : Harvested acres (mil.) : 2.73 2.19 Yield (pounds/acre) : 6,493 6,689 Beginning stocks : 22.7 32.7 29.1 29.1 Production : 177.5 146.2 134.0 139.5 Supply, total 7/ : 212.5 193.4 178.1 183.6 Domestic & Residual 3/ : 86.9 89.8 89.0 89.0 Exports 8/ : 93.0 74.5 73.0 79.0 Use, total : 179.9 164.3 162.0 168.0 Ending stocks : 32.7 29.1 16.1 15.6 : : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.63 0.64 Yield (pounds/acre) : 7,255 7,484 Beginning stocks : 13.8 9.4 11.9 11.9 Production : 45.7 47.5 49.0 50.5 Supply, total 7/ : 64.7 63.5 67.4 68.9 Domestic & Residual 3/ : 32.5 33.1 35.7 35.7 Exports 8/ : 22.8 18.5 23.0 23.0 Use, total : 55.2 51.6 58.7 58.7 Ending stocks : 9.4 11.9 8.7 10.2 =============================================================================== 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): 2005/06-1.1; 2006/07-0.9; 2007/08-0.9. 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. * For June: Planted acres reported in March 30, 2007, Prospective Plantings report. Harvested acres are estimated using the average harvested-to-planted ratios by State and rice class, 2004-2006. For July: Planted and harvested acres reported in June 29, 2007, Acreage report. For June and July: Projected yield is derived from the trend yields by rice class for the period, 1990-2006. A slight downward adjustment is made to the long grain trend yield due to the loss of two important varieties because of the GMO problem in 2006-2007 (Cheniere and Clearfield 131). WASDE-448-15 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :=============================== : : Est. : June July =============================================================================== SOYBEANS: : Million acres Area : Planted : 72.0 75.5 67.1 * 64.1 ** Harvested : 71.3 74.6 66.1 * 63.3 ** : : Bushels Yield per harvested : acre : 43.0 42.7 41.5 * 41.5 ** : : Million bushels : Beginning stocks : 256 449 610 600 Production : 3,063 3,188 2,745 2,625 Imports : 3 4 4 4 Supply, total : 3,322 3,642 3,359 3,229 Crushings : 1,739 1,780 1,790 1,800 Exports : 947 1,090 1,080 1,020 Seed : 93 79 85 85 Residual : 94 92 84 79 Use, total : 2,873 3,041 3,039 2,985 Ending stocks : 449 600 320 245 Avg. farm price ($/bu) 2/ : 5.66 6.35 6.65- 7.65 7.25 - 8.25 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 1,699 3,010 2,934 2,940 Production : 20,387 20,150 20,315 20,430 Imports : 35 30 35 35 Supply, total : 22,122 23,190 23,284 23,405 Domestic : 17,959 18,800 19,700 19,900 For methyl ester 4/ : 1,555 2,400 3,500 3,500 Exports : 1,153 1,450 1,400 1,400 Use, total : 19,112 20,250 21,100 21,300 Ending stocks : 3,010 2,940 2,184 2,105 Average price (c/lb) 2/ : 23.41 31.00 30.50- 32.00- : 34.50 36.00 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 172 314 300 300 Production : 41,244 42,171 42,585 42,835 Imports : 141 165 165 165 Supply, total : 41,557 42,650 43,050 43,300 Domestic : 33,178 34,000 34,350 34,600 Exports : 8,064 8,350 8,400 8,400 Use, total : 41,243 42,350 42,750 43,000 Ending stocks : 314 300 300 300 Average price ($/s.t.) 2/ : 174.17 205.00 185.00- 200.00- : 215.00 230.00 =============================================================================== 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. *Planted acres reported in March 30 Prospective Plantings. Harvested acres based on 5-year average planted-to-harvested ratios by state. Projected yield based on 1989-2006 regional trend analysis. **Planted and harvested acres from the June 29 Acreage report. Projected yield based on 1989-2006 regional trend. WASDE-448-16 U.S. Sugar Supply and Use 1/ ===================================================================== : : : 2007/08 Projection Item : 2005/06 : 2006/07 :==================== : : Est. : June July ===================================================================== : 1,000 short tons, raw value : Beginning stocks : 1,332 1,698 1,693 1,616 Production 2/ : 7,399 8,484 8,255 8,292 Beet sugar : 4,444 4,999 4,520 4,619 Cane sugar : 2,955 3,485 3,735 3,673 Florida : 1,367 1,713 1,870 1,774 Hawaii : 223 252 229 271 Louisiana : 1,190 1,335 1,430 1,430 Texas : 175 185 206 198 Imports : 3,443 2,009 1,889 1,889 TRQ 3/ : 2,588 1,549 1,284 1,284 Other program 4/ : 349 400 425 425 Other 5/ : 506 60 180 180 Mexico : 420 50 175 175 Total supply : 12,174 12,191 11,837 11,797 : Exports : 203 400 250 250 Deliveries : 10,341 10,175 10,170 10,170 Food : 10,184 9,950 10,000 10,000 Other 6/ : 157 225 170 170 Miscellaneous 7/ : -68 0 0 0 Total use : 10,476 10,575 10,420 10,420 Ending stocks : 1,698 1,616 1,417 1,377 : Stocks to use ratio : 16.2 15.3 13.6 13.2 ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. Historical data are from FSA, "Sweetener Market Data" except imports (U.S. Customs Service, Census Bureau). 2/ Production projections for 2007/08 are processor projections compiled by the Farm Sevice 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 2007/08, includes only U.S. commitments under current trade agreements, minus shortfall of 70,000 tons. The Secretary will establish the actual level of the TRQ at a later date. 4/ Includes sugar under the re-export and polyhydric alcohol programs. 5/ Does not include Mexico TRQ imports. For 2005/06, other high-tier (30) and other (56). For 2006/07, other high-tier (0) and other (10). For 2007/08, other high-tier (0) and other (5). 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-448-17 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2007/08 Projections Item : 2005/06 : 2006/07 :=============================== : : Est. : June July =============================================================================== : Million acres Area : Planted : 14.25 15.27 12.15 * 11.06 * Harvested : 13.80 12.73 11.00 * 10.50 * : : Pounds Yield per harvested : acre : 831 814 820 * 800 * : : Million 480 pound bales : Beginning stocks 2/ : 5.50 6.05 9.80 9.80 Production : 23.89 21.59 18.80 17.50 Imports : 0.03 0.02 0.02 0.02 Supply, total : 29.41 27.66 28.62 27.32 Domestic use : 5.87 4.90 4.40 4.40 Exports : 18.04 13.00 17.50 17.00 Use, total : 23.91 17.90 21.90 21.40 Unaccounted 3/ : -0.55 -0.04 0.02 0.02 Ending stocks : 6.05 9.80 6.70 5.90 : Avg. farm price 4/ : 47.7 47.4 5/ 5/ =============================================================================== Note: Totals may not add due to rounding. 1/ Upland and extra-long staple; marketing year beginning August 1. Totals may not add due to rounding. 2/ Based on Bureau of Census data. 3/ Reflects the difference between the previous season's supply less total use and ending stocks based on Bureau of Census data. 4/ Cents per pound. The 2006/07 price is a weighted average price for upland cotton for August-May. 5/ USDA is prohibited by law from publishing cotton price projections. * For June, planted area reported in March 31 "Prospective Plantings." Projected harvested area based on 1997-2006 average abandonment by State. Projected yield per harvested acre based on 2004-2006 average yields by State. For July, planted area reported in June 29 "Acreage." Harvested area based on 1997-2006 average abandonment by State, adjusted to reflect area not planted due to adverse conditions. Projected yield per harvested acre based on 2004-2006 average yields by State, adjusted for drought conditions in the Southeast. Note: Public Law 106-78, signed October 22, 1999, requires the Secretary of Agriculture to estimate and report the U.S. upland cotton season-ending stocks-to-use ratio, excluding projected raw cotton imports but including the quantity of raw cotton imports that has been imported during the marketing year. Pursuant to this requirement, the estimated ratio for 2006/07 is 56.3 percent. WASDE-448-18 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2005/06 : World 3/ : 151.01 622.64 109.73 111.74 624.49 115.61 149.16 United States : 14.70 57.28 2.22 4.19 31.19 27.47 15.55 Total foreign : 136.31 565.36 107.50 107.55 593.30 88.14 133.62 Major exporters 4/ : 42.66 199.00 7.12 71.72 148.09 57.37 43.32 Argentina : 0.55 14.50 0.01 0.08 5.00 9.56 0.50 Australia : 6.70 25.37 0.08 3.70 6.40 16.01 9.73 Canada : 7.92 26.78 0.28 4.97 9.17 16.10 9.71 EU-27 5/ : 27.49 132.36 6.76 62.98 127.53 15.69 23.38 Major importers 6/ : 61.99 162.78 58.77 8.40 218.96 4.42 60.16 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/ : 5.46 19.77 12.18 1.95 30.02 0.60 6.78 N. Africa 8/ : 10.52 15.18 18.56 0.30 33.51 0.23 10.51 Pakistan : 2.25 21.61 0.95 0.40 21.50 0.05 3.26 Southeast Asia 9/ : 2.05 0.00 10.33 1.23 10.00 0.38 2.00 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 : : 2006/07 (Estimated) : World 3/ : 149.16 592.98 108.42 106.30 617.99 107.09 124.15 United States : 15.55 49.32 3.27 3.57 30.96 24.77 12.40 Total foreign : 133.62 543.67 105.15 102.73 587.03 82.32 111.75 Major exporters 4/ : 43.32 175.16 5.86 69.78 146.95 52.70 24.69 Argentina : 0.50 15.20 0.01 0.08 4.90 10.50 0.31 Australia : 9.73 9.90 0.08 4.50 7.20 9.50 3.00 Canada : 9.71 25.27 0.28 4.80 9.15 19.20 6.90 EU-27 5/ : 23.38 124.80 5.50 60.40 125.70 13.50 14.48 Major importers 6/ : 60.16 170.58 52.45 7.63 219.17 4.90 59.13 Brazil : 1.33 2.23 7.50 0.10 10.40 0.05 0.62 China : 34.89 104.00 0.45 4.00 101.00 2.50 35.84 Select. Mideast 7/ : 6.78 20.04 9.90 1.50 29.69 0.55 6.48 N. Africa 8/ : 10.51 18.53 15.30 0.30 34.13 0.22 9.99 Pakistan : 3.26 21.70 0.15 0.40 21.90 0.20 3.01 Southeast Asia 9/ : 2.00 0.00 10.05 0.92 9.85 0.40 1.81 Selected other : India : 2.00 69.35 6.70 0.30 74.35 0.20 3.50 FSU-12 : 15.17 85.94 4.70 21.46 73.05 19.21 13.55 Russia : 3.81 44.90 1.20 14.10 36.60 10.70 2.61 Kazakhstan : 4.28 13.50 0.02 2.70 7.80 5.50 4.50 Ukraine : 2.41 14.00 0.08 2.10 11.50 2.80 2.19 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and the EU-27. 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-448-19 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: =============================================================================== : : 2007/08 (Projected) World 3/ : June : 121.95 610.15 104.94 104.18 620.07 107.42 112.03 July : 124.15 612.27 105.22 103.30 619.87 107.57 116.55 United States : June : 11.34 59.00 2.72 6.26 33.78 27.22 12.06 July : 12.40 58.19 2.72 5.85 33.37 28.58 11.38 Total foreign : June : 110.61 551.16 102.22 97.92 586.30 80.21 99.97 July : 111.75 554.07 102.50 97.45 586.50 78.99 105.18 Major exporters 4/ : June : 25.03 187.92 6.35 66.58 144.10 52.00 23.19 July : 24.69 186.13 6.35 65.68 143.20 51.00 22.97 Argentina Jun : 0.31 14.00 0.00 0.08 4.90 9.00 0.41 Jul : 0.31 14.00 0.00 0.08 4.90 9.00 0.41 Australia Jun : 3.13 22.10 0.08 4.00 6.70 14.50 4.11 Jul : 3.00 23.00 0.08 4.00 6.70 15.00 4.38 Canada Jun : 7.11 24.50 0.28 5.00 9.50 16.50 5.89 Jul : 6.90 22.50 0.28 4.60 9.10 15.00 5.57 EU-27 5/ Jun : 14.48 127.32 6.00 57.50 123.00 12.00 12.80 Jul : 14.48 126.63 6.00 57.00 122.50 12.00 12.61 Major importers 6/ : June : 58.58 163.77 53.40 6.79 217.71 5.22 52.83 July : 59.13 169.97 53.40 7.19 219.10 5.22 58.18 Brazil Jun : 0.62 3.80 6.80 0.20 10.50 0.01 0.71 Jul : 0.62 3.80 6.80 0.20 10.50 0.01 0.71 China Jun : 35.44 100.00 0.50 3.50 99.50 2.50 33.94 Jul : 35.84 105.00 0.50 4.00 100.50 2.50 38.34 Sel. Mideast 7/Jun : 6.33 20.27 9.65 1.20 29.64 0.55 6.07 Jul : 6.48 20.27 9.65 1.10 29.64 0.55 6.22 N. Africa 8/ Jun : 9.99 13.78 16.95 0.15 33.88 0.16 6.69 Jul : 9.99 13.78 16.95 0.15 33.88 0.16 6.69 Pakistan Jun : 3.01 21.80 0.15 0.40 22.00 0.60 2.36 Jul : 3.01 23.00 0.15 0.40 22.40 0.60 3.16 SE Asia 9/ Jun : 1.81 0.00 10.25 0.94 9.95 0.43 1.69 Jul : 1.81 0.00 10.25 0.94 9.95 0.43 1.69 Selected other : India Jun : 3.50 73.70 3.00 0.20 75.65 0.05 4.50 Jul : 3.50 73.70 3.00 0.20 75.65 0.05 4.50 FSU-12 Jun : 13.47 84.59 4.18 21.26 72.11 18.69 11.43 Jul : 13.55 84.29 4.35 21.28 72.20 18.65 11.34 Russia Jun : 2.61 45.00 1.20 14.20 36.20 10.50 2.11 Jul : 2.61 45.00 1.20 14.20 36.20 10.50 2.11 Kazakhstan Jun : 4.50 12.50 0.02 2.70 7.80 5.50 3.71 Jul : 4.50 13.50 0.02 2.70 7.80 6.50 3.72 Ukraine Jun : 2.19 14.00 0.01 2.00 11.40 2.50 2.30 Jul : 2.19 13.00 0.01 2.10 11.50 1.50 2.20 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and the EU-27. 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-448-20 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: =============================================================================== : : 2005/06 : World 3/ : 177.87 978.31 104.38 635.43 992.58 107.38 163.60 United States : 58.80 298.76 2.06 162.99 244.73 60.13 54.77 Total foreign : 119.07 679.55 102.32 472.45 747.86 47.25 108.83 Major exporters 4/ : 13.63 66.14 3.09 36.26 49.17 20.26 13.44 Argentina : 1.56 19.22 0.06 6.81 9.37 10.02 1.46 Australia : 2.30 13.67 0.00 5.89 7.17 5.59 3.21 Canada : 6.34 25.94 1.99 19.35 23.86 4.08 6.33 Major importers 5/ : 47.57 216.53 77.42 218.30 293.31 5.65 42.56 EU-27 6/ : 25.02 146.74 2.78 109.42 147.54 4.36 22.64 Japan : 1.88 0.19 19.77 15.06 20.09 0.00 1.74 Mexico : 5.40 25.83 9.90 21.19 37.59 0.21 3.34 N. Afr & Mideast 7/: 8.62 26.61 18.84 38.90 45.80 0.89 7.38 Saudi Arabia : 2.71 0.20 8.52 8.00 8.19 0.00 3.25 Southeast Asia 8/ : 1.69 16.57 4.41 14.57 20.33 0.20 2.14 South Korea : 1.38 0.34 8.55 6.56 8.91 0.00 1.36 Selected other : Brazil : 4.38 44.17 1.36 35.01 42.22 4.52 3.17 China : 37.02 147.70 2.31 103.12 147.46 3.76 35.81 FSU-12 : 7.26 55.17 1.09 33.61 49.58 8.47 5.47 Russia : 2.67 27.60 0.54 17.65 27.70 1.78 1.33 Ukraine : 2.67 18.14 0.07 8.45 11.99 6.50 2.40 : : 2006/07 (Estimated) : World 3/ : 163.60 977.11 105.93 630.85 1009.83 108.40 130.88 United States : 54.77 280.11 2.43 152.43 247.81 57.39 32.11 Total foreign : 108.83 697.00 103.50 478.42 762.02 51.02 98.77 Major exporters 4/ : 13.44 63.37 3.40 35.76 49.65 22.96 7.59 Argentina : 1.46 27.54 0.00 7.61 10.32 16.51 2.17 Australia : 3.21 5.76 0.00 4.56 5.79 2.13 1.04 Canada : 6.33 23.15 2.07 19.03 24.14 3.80 3.61 Major importers 5/ : 42.56 212.62 80.21 217.06 292.85 5.34 37.21 EU-27 6/ : 22.64 138.69 6.22 106.06 144.56 4.66 18.33 Japan : 1.74 0.18 19.19 14.86 19.79 0.00 1.32 Mexico : 3.34 28.73 10.70 22.88 39.38 0.00 3.39 N. Afr & Mideast 7/: 7.38 27.49 18.99 39.42 46.68 0.30 6.88 Saudi Arabia : 3.25 0.20 7.30 7.63 7.81 0.00 2.94 Southeast Asia 8/ : 2.14 16.96 4.01 14.66 20.42 0.39 2.30 South Korea : 1.36 0.33 9.27 7.25 9.63 0.00 1.32 Selected other : Brazil : 3.17 52.56 0.61 37.08 44.31 6.53 5.50 China : 35.81 153.56 1.63 104.69 153.02 4.60 33.38 FSU-12 : 5.47 58.55 0.79 35.47 51.04 8.29 5.48 Russia : 1.33 30.20 0.50 18.70 28.70 1.70 1.63 Ukraine : 2.40 19.18 0.03 9.95 13.38 5.90 2.33 =============================================================================== 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-27, 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-448-21 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: =============================================================================== : : 2007/08 (Projected) World 3/ : June : 125.38 1056.36 105.34 643.88 1060.21 105.79 121.53 July : 130.88 1065.63 105.23 643.38 1059.21 105.45 137.29 United States : June : 28.51 332.52 2.75 152.20 280.22 54.70 28.86 July : 32.11 343.77 2.64 152.92 280.94 55.33 42.25 Total foreign : June : 96.87 723.84 102.59 491.69 779.99 51.10 92.67 July : 98.77 721.85 102.59 490.46 778.27 50.12 95.05 Major exporters 4/ : June : 7.88 80.19 2.05 38.10 53.13 26.79 10.20 July : 7.59 80.69 2.05 37.63 52.65 27.32 10.36 Argentina Jun : 2.17 28.97 0.00 8.11 10.87 17.31 2.97 Jul : 2.17 28.97 0.00 8.11 10.87 17.31 2.97 Australia Jun : 1.20 12.01 0.00 5.34 6.63 4.91 1.67 Jul : 1.04 12.81 0.00 5.47 6.75 5.44 1.66 Canada Jun : 4.06 28.24 1.67 20.04 26.16 3.80 4.02 Jul : 3.61 27.94 1.67 19.44 25.56 3.80 3.86 Major importers 5/ : June : 36.94 218.88 80.85 222.52 299.24 3.95 33.48 July : 37.21 218.32 80.85 222.62 299.34 4.45 32.59 EU-27 6/ Jun : 18.33 145.33 3.97 107.55 146.95 3.61 17.06 Jul : 18.33 144.76 3.97 107.55 146.95 4.11 16.00 Japan Jun : 1.32 0.17 18.89 14.41 19.24 0.00 1.14 Jul : 1.32 0.17 18.89 14.41 19.24 0.00 1.14 Mexico Jun : 3.39 29.38 13.30 25.98 42.68 0.03 3.36 Jul : 3.39 29.38 13.30 25.98 42.68 0.03 3.36 N Afr/M.East 7/Jun : 6.64 26.25 19.48 39.82 46.91 0.05 5.41 Jul : 6.88 26.25 19.48 39.92 47.01 0.05 5.55 Saudi Arabia Jun : 2.94 0.20 7.40 7.73 7.91 0.00 2.63 Jul : 2.94 0.20 7.40 7.73 7.91 0.00 2.63 S.-east Asia 8/Jun : 2.27 17.17 4.21 15.56 21.42 0.26 1.97 Jul : 2.30 17.17 4.21 15.56 21.42 0.26 2.00 South Korea Jun : 1.32 0.32 9.17 7.15 9.53 0.00 1.28 Jul : 1.32 0.32 9.17 7.15 9.53 0.00 1.28 Selected other : Brazil Jun : 5.50 52.86 0.56 37.78 45.01 6.53 7.38 Jul : 5.50 52.86 0.56 37.78 45.01 6.53 7.38 China Jun : 31.38 154.40 2.13 106.71 158.45 3.04 26.42 Jul : 33.38 156.40 2.13 106.71 158.45 3.04 30.42 FSU-12 Jun : 5.48 59.09 0.56 36.55 52.07 7.60 5.46 Jul : 5.48 55.16 0.56 35.70 50.94 5.60 4.65 Russia Jun : 1.63 31.30 0.28 18.95 29.18 1.90 2.13 Jul : 1.63 30.80 0.28 18.95 28.93 1.90 1.88 Ukraine Jun : 2.33 17.96 0.02 10.60 13.66 5.01 1.64 Jul : 2.33 15.41 0.02 10.15 13.21 3.01 1.54 =============================================================================== 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-27, 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-448-22 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2005/06 : World 3/ : 130.74 696.18 79.34 475.79 704.12 81.23 122.79 United States : 53.70 282.31 0.23 156.00 231.72 54.55 49.97 Total foreign : 77.04 413.86 79.11 319.80 472.40 26.69 72.83 Major exporters 4/ : 4.15 22.74 1.00 8.40 14.40 10.01 3.46 Argentina : 0.96 15.80 0.06 4.40 6.20 9.46 1.16 South Africa : 3.19 6.94 0.93 4.00 8.20 0.55 2.31 Major importers 5/ : 17.99 103.17 47.79 105.16 149.70 0.83 18.41 Egypt : 0.42 5.93 4.40 8.30 10.10 0.00 0.65 EU-27 6/ : 8.10 61.15 2.63 47.00 61.50 0.45 9.93 Japan : 1.03 0.00 16.62 12.00 16.70 0.00 0.95 Mexico : 4.53 19.50 6.79 12.40 27.90 0.21 2.71 Southeast Asia 7/ : 1.66 16.48 4.40 14.50 20.25 0.17 2.12 South Korea : 1.38 0.07 8.48 6.51 8.58 0.00 1.36 Selected other : Brazil : 4.19 41.70 1.15 33.00 39.50 4.52 3.02 Canada : 1.80 9.36 1.93 8.55 10.84 0.25 2.00 China : 36.56 139.36 0.06 101.00 137.00 3.73 35.26 FSU-12 : 2.17 13.15 0.63 10.12 11.76 2.55 1.63 Ukraine : 1.32 7.15 0.01 4.40 5.10 2.46 0.92 : : 2006/07 (Estimated) : World 3/ : 122.79 701.03 83.85 473.53 722.87 85.78 100.95 United States : 49.97 267.60 0.25 146.06 235.60 53.34 28.88 Total foreign : 72.83 433.44 83.60 327.48 487.28 32.44 72.07 Major exporters 4/ : 3.46 29.00 1.20 9.10 15.50 16.00 2.16 Argentina : 1.16 22.50 0.00 4.80 6.70 15.50 1.46 South Africa : 2.31 6.50 1.20 4.30 8.80 0.50 0.71 Major importers 5/ : 18.41 100.10 51.90 105.60 150.48 0.86 19.08 Egypt : 0.65 5.94 4.30 8.40 10.40 0.00 0.49 EU-27 6/ : 9.93 55.19 5.30 44.60 59.20 0.50 10.72 Japan : 0.95 0.00 16.20 11.90 16.50 0.00 0.65 Mexico : 2.71 22.00 8.50 14.70 30.30 0.00 2.91 Southeast Asia 7/ : 2.12 16.87 4.00 14.60 20.35 0.36 2.27 South Korea : 1.36 0.07 9.20 7.20 9.30 0.00 1.32 Selected other : Brazil : 3.02 50.00 0.35 35.00 41.50 6.50 5.37 Canada : 2.00 8.99 2.00 8.40 11.30 0.25 1.44 China : 35.26 145.00 0.10 103.00 143.00 4.50 32.86 FSU-12 : 1.63 12.70 0.45 10.34 11.95 1.13 1.70 Ukraine : 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-27, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-448-23 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: =============================================================================== : : 2007/08 (Projected) World 3/ : June : 94.68 767.96 82.33 484.13 770.84 83.11 91.80 July : 100.95 777.10 82.33 483.63 769.70 82.75 108.36 United States : June : 25.07 316.50 0.38 144.79 266.46 50.17 25.33 July : 28.88 326.15 0.38 144.79 266.46 50.80 38.15 Total foreign : June : 69.61 451.46 81.95 339.34 504.38 32.95 66.48 July : 72.07 450.95 81.95 338.84 503.24 31.95 70.20 Major exporters 4/ : June : 1.83 34.50 0.25 9.55 16.00 16.75 3.83 July : 2.16 34.50 0.25 9.55 16.00 16.75 4.16 Argentina Jun : 1.46 24.00 0.00 5.20 7.10 16.00 2.36 Jul : 1.46 24.00 0.00 5.20 7.10 16.00 2.36 South Africa Jun : 0.38 10.50 0.25 4.35 8.90 0.75 1.48 Jul : 0.71 10.50 0.25 4.35 8.90 0.75 1.81 Major importers 5/ : June : 19.05 102.07 51.70 110.10 155.68 0.56 16.59 July : 19.08 101.58 51.70 110.10 155.68 0.56 16.13 Egypt Jun : 0.49 5.98 4.30 8.30 10.40 0.00 0.37 Jul : 0.49 5.98 4.30 8.30 10.40 0.00 0.37 EU-27 6/ Jun : 10.72 55.72 3.50 45.80 60.80 0.30 8.84 Jul : 10.72 55.23 3.50 45.80 60.80 0.30 8.35 Japan Jun : 0.65 0.00 16.10 11.70 16.20 0.00 0.55 Jul : 0.65 0.00 16.10 11.70 16.20 0.00 0.55 Mexico Jun : 2.91 23.20 10.20 17.50 33.30 0.03 2.98 Jul : 2.91 23.20 10.20 17.50 33.30 0.03 2.98 S.-east Asia 7/Jun : 2.25 17.08 4.20 15.50 21.35 0.24 1.95 Jul : 2.27 17.08 4.20 15.50 21.35 0.24 1.97 South Korea Jun : 1.32 0.06 9.10 7.10 9.20 0.00 1.28 Jul : 1.32 0.06 9.10 7.10 9.20 0.00 1.28 Selected other : Brazil Jun : 5.37 50.00 0.30 35.50 42.00 6.50 7.17 Jul : 5.37 50.00 0.30 35.50 42.00 6.50 7.17 Canada Jun : 1.57 11.50 1.60 9.20 13.10 0.20 1.37 Jul : 1.44 11.20 1.60 8.70 12.60 0.20 1.44 China Jun : 30.86 146.00 0.10 105.00 148.00 3.00 25.96 Jul : 32.86 148.00 0.10 105.00 148.00 3.00 29.96 FSU-12 Jun : 1.70 15.20 0.25 11.04 12.75 2.83 1.58 Jul : 1.70 13.48 0.25 10.94 12.37 1.83 1.23 Ukraine Jun : 1.07 7.50 0.00 5.00 5.60 2.50 0.47 Jul : 1.07 6.50 0.00 5.00 5.60 1.50 0.47 =============================================================================== 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-27, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-448-24 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 : =============================================================================== : : 2005/06 World 3/ : 75.02 418.04 26.15 415.81 30.08 77.26 United States : 1.21 7.11 0.54 3.81 3.69 1.37 Total foreign : 73.81 410.93 25.60 412.00 26.39 75.89 Major exporters 4/ : 12.41 138.31 0.36 114.88 20.43 15.77 India : 8.50 91.79 0.01 85.09 4.69 10.52 Pakistan : 0.31 5.55 0.00 1.90 3.66 0.30 Thailand : 2.31 18.20 0.00 9.50 7.38 3.64 Vietnam : 1.29 22.77 0.35 18.39 4.71 1.32 Major importers 5/ : 12.98 60.16 10.79 70.16 0.50 13.26 Brazil : 1.75 7.87 0.75 8.97 0.28 1.11 EU-27 6/ : 1.14 1.74 1.13 2.65 0.16 1.19 Indonesia : 3.45 34.96 0.54 35.80 0.00 3.15 Nigeria : 0.42 2.70 1.78 4.35 0.00 0.55 Philippines : 4.57 9.82 1.62 11.00 0.00 5.01 Sel. Mideast 7/ : 1.46 2.52 3.91 5.74 0.06 2.09 Selected other : Burma : 0.71 10.44 0.00 10.40 0.05 0.70 C. Amer & Carib 8/ : 0.13 0.07 0.48 0.48 0.00 0.20 China : 38.93 126.41 0.65 128.00 1.22 36.78 Egypt : 0.50 4.14 0.03 3.28 0.96 0.43 Japan : 1.92 8.26 0.67 8.25 0.20 2.40 Mexico : 0.17 0.18 0.58 0.78 0.00 0.16 South Korea : 0.91 4.77 0.22 4.85 0.13 0.91 : : 2006/07 (Estimated) World 3/ : 77.26 416.37 28.54 418.04 29.31 75.58 United States : 1.37 6.24 0.67 3.93 3.00 1.35 Total foreign : 75.89 410.13 27.87 414.11 26.31 74.23 Major exporters 4/ : 15.77 137.20 0.46 117.76 20.90 14.77 India : 10.52 91.05 0.00 87.55 4.30 9.72 Pakistan : 0.30 5.20 0.00 2.14 3.10 0.26 Thailand : 3.64 18.25 0.01 9.57 8.80 3.52 Vietnam : 1.32 22.70 0.45 18.50 4.70 1.27 Major importers 5/ : 13.26 58.82 12.06 70.49 0.33 13.33 Brazil : 1.11 7.70 0.85 8.95 0.13 0.59 EU-27 6/ : 1.19 1.69 1.10 2.70 0.15 1.13 Indonesia : 3.15 33.30 2.00 35.85 0.00 2.60 Nigeria : 0.55 2.90 1.60 4.45 0.00 0.60 Philippines : 5.01 10.05 1.85 11.30 0.00 5.61 Sel. Mideast 7/ : 2.09 2.58 3.55 5.53 0.05 2.64 Selected other : Burma : 0.70 10.60 0.00 10.50 0.10 0.70 C. Amer & Carib 8/ : 0.20 0.07 0.45 0.50 0.00 0.22 China : 36.78 128.00 0.80 127.90 1.40 36.28 Egypt : 0.43 4.38 0.10 3.30 1.00 0.62 Japan : 2.40 7.79 0.65 8.25 0.20 2.38 Mexico : 0.16 0.23 0.60 0.80 0.00 0.18 South Korea : 0.91 4.68 0.27 4.84 0.10 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 some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, and the EU-27. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries. WASDE-448-25 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 : =============================================================================== : : 2007/08 (Projected) World 3/ : June : 75.42 420.88 27.40 424.55 29.85 71.76 July : 75.58 420.81 27.43 424.40 29.79 71.99 United States : June : 1.35 5.85 0.68 3.99 3.07 0.82 July : 1.35 6.08 0.68 3.99 3.26 0.86 Total foreign : June : 74.08 415.03 26.72 420.55 26.78 70.94 July : 74.23 414.73 26.74 420.41 26.53 71.13 Major exporters 4/ : June : 14.67 138.29 0.46 119.68 21.10 12.64 July : 14.77 138.29 0.46 119.68 21.00 12.84 India Jun : 9.72 91.50 0.00 89.12 4.10 8.00 Jul : 9.72 91.50 0.00 89.12 4.10 8.00 Pakistan Jun : 0.26 5.40 0.00 2.21 3.20 0.25 Jul : 0.26 5.40 0.00 2.21 3.20 0.25 Thailand Jun : 3.52 18.40 0.01 9.60 9.00 3.33 Jul : 3.52 18.40 0.01 9.60 9.00 3.33 Vietnam Jun : 1.17 22.99 0.45 18.75 4.80 1.06 Jul : 1.27 22.99 0.45 18.75 4.70 1.26 Major importers 5/ : June : 13.33 59.75 11.38 71.58 0.27 12.61 July : 13.33 59.75 11.38 71.58 0.27 12.61 Brazil Jun : 0.59 7.85 0.95 8.90 0.10 0.39 Jul : 0.59 7.85 0.95 8.90 0.10 0.39 EU-27 6/ Jun : 1.13 1.69 1.10 2.75 0.15 1.03 Jul : 1.13 1.69 1.10 2.75 0.15 1.03 Indonesia Jun : 2.60 34.00 1.60 36.00 0.00 2.20 Jul : 2.60 34.00 1.60 36.00 0.00 2.20 Nigeria Jun : 0.60 3.00 1.70 4.70 0.00 0.60 Jul : 0.60 3.00 1.70 4.70 0.00 0.60 Philippines Jun : 5.61 10.01 1.80 11.75 0.00 5.67 Jul : 5.61 10.01 1.80 11.75 0.00 5.67 Sel. Mideast 7/Jun : 2.64 2.65 3.16 5.86 0.02 2.57 Jul : 2.64 2.65 3.16 5.86 0.02 2.57 Selected other : Burma Jun : 0.70 10.66 0.00 10.70 0.10 0.56 Jul : 0.70 10.66 0.00 10.70 0.10 0.56 C. Am & Car. 8/Jun : 0.22 0.07 0.40 0.49 0.00 0.19 Jul : 0.22 0.07 0.40 0.49 0.00 0.19 China Jun : 36.28 129.70 0.90 129.10 1.50 36.28 Jul : 36.28 129.70 0.90 129.10 1.50 36.28 Egypt Jun : 0.62 4.41 0.00 3.47 1.10 0.45 Jul : 0.62 4.41 0.00 3.47 1.10 0.45 Japan Jun : 2.38 7.94 0.70 8.15 0.20 2.67 Jul : 2.38 7.94 0.70 8.15 0.20 2.67 Mexico Jun : 0.18 0.20 0.63 0.80 0.00 0.20 Jul : 0.18 0.20 0.63 0.80 0.00 0.20 South Korea Jun : 0.92 4.60 0.27 4.76 0.10 0.92 Jul : 0.92 4.60 0.27 4.76 0.10 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 some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, the EU-27. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries. WASDE-448-26 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2005/06 : World : 56.09 115.71 44.06 116.16 44.68 -2.64 57.67 United States : 5.50 23.89 0.03 5.87 18.04 -0.55 6.05 Total foreign : 50.60 91.82 44.04 110.29 26.65 -2.09 51.61 Major exporters 4/ : 22.32 43.70 1.54 25.24 22.14 -0.09 20.26 Central Asia 5/ : 2.36 8.36 3/ 1.46 7.00 0.00 2.27 Afr. Fr. Zone 6/ : 1.87 4.24 3/ 0.19 4.44 0.00 1.48 S. Hemis. 7/ : 8.04 8.94 0.61 5.31 5.55 -0.10 6.85 Australia : 1.96 2.80 3/ 0.06 2.88 -0.12 1.94 Brazil : 5.08 4.70 0.31 4.20 1.97 0.00 3.92 India : 8.76 19.05 0.40 16.50 3.45 0.00 8.26 Major importers 8/ : 25.85 44.57 40.05 80.50 2.83 -2.01 29.15 Mexico : 1.32 0.64 1.74 2.10 0.25 0.03 1.32 China : 14.06 27.50 19.28 45.00 0.04 -2.20 18.01 EU-27 9/ : 1.16 2.51 2.31 2.72 2.00 0.06 1.20 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 : 4.70 10.17 1.62 11.75 0.29 0.03 4.41 Indonesia : 0.38 0.03 2.20 2.18 0.02 0.05 0.37 Thailand : 0.63 0.06 1.89 2.15 0.01 0.03 0.40 Bangladesh : 0.38 0.07 2.21 2.20 0.00 0.01 0.46 : : 2006/07 (Estimated) : World : 57.67 118.36 37.32 122.33 36.99 -3.28 57.32 United States : 6.05 21.59 0.02 4.90 13.00 -0.04 9.80 Total foreign : 51.61 96.78 37.30 117.43 23.99 -3.24 47.52 Major exporters 4/ : 20.26 44.77 1.91 27.25 20.25 -0.04 19.48 Central Asia 5/ : 2.27 8.17 3/ 1.40 6.82 0.00 2.22 Afr. Fr. Zone 6/ : 1.48 3.79 3/ 0.19 3.93 0.00 1.15 S. Hemis. 7/ : 6.85 9.12 1.01 5.36 4.15 -0.05 7.51 Australia : 1.94 1.10 3/ 0.06 2.15 -0.07 0.91 Brazil : 3.92 6.50 0.60 4.15 1.40 0.00 5.47 India : 8.26 21.50 0.35 18.50 4.25 0.00 7.36 Major importers 8/ : 29.15 48.88 32.79 85.67 2.35 -3.21 26.02 Mexico : 1.32 0.65 1.45 2.10 0.18 0.03 1.12 China : 18.01 32.50 11.25 50.00 0.08 -3.40 15.09 EU-27 9/ : 1.20 1.61 2.04 2.38 1.58 0.06 0.84 Russia : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey : 1.70 4.02 3.60 7.20 0.08 0.00 2.04 Pakistan : 4.41 9.90 2.10 11.80 0.30 0.03 4.29 Indonesia : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Thailand : 0.40 0.05 2.10 2.05 0.00 0.03 0.47 Bangladesh : 0.46 0.07 2.40 2.40 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, 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-448-27 World Cotton Supply and Use 1/ (Million 480-pound bales) =============================================================================== : Supply : Use : : Region :=========================:================: Loss :Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ :stocks : stocks : tion : : : : : =============================================================================== : : 2007/08 (Projected) World : June : 56.39 115.89 42.11 127.41 41.58 -5.84 51.23 July : 57.32 115.79 41.30 127.16 40.81 -4.33 50.78 United States : June : 9.80 18.80 0.02 4.40 17.50 0.02 6.70 July : 9.80 17.50 0.02 4.40 17.00 0.02 5.90 Total foreign : June : 46.59 97.09 42.09 123.01 24.08 -5.85 44.53 July : 47.52 98.29 41.28 122.76 23.81 -4.35 44.88 Major exporters 4/ : June : 19.37 45.98 1.60 28.70 20.43 -0.04 17.85 July : 19.48 45.78 1.60 28.70 20.10 -0.04 18.09 Central Asia 5/Jun : 2.22 8.08 3/ 1.37 6.83 0.00 2.09 Jul : 2.22 8.18 3/ 1.37 6.88 0.00 2.14 Afr. Fr. Zn. 6/Jun : 1.18 4.07 3/ 0.19 3.96 0.00 1.10 Jul : 1.15 3.77 3/ 0.19 3.66 0.00 1.07 S. Hemis 7/ Jun : 7.52 8.58 0.65 5.35 4.74 -0.05 6.71 Jul : 7.51 8.48 0.65 5.35 4.61 -0.05 6.73 Australia Jun : 0.91 1.00 3/ 0.05 1.30 -0.07 0.63 Jul : 0.91 0.90 3/ 0.05 1.20 -0.07 0.63 Brazil Jun : 5.47 6.00 0.25 4.10 2.70 0.00 4.92 Jul : 5.47 6.00 0.25 4.10 2.70 0.00 4.92 India Jun : 7.36 22.50 0.40 20.00 3.50 0.00 6.76 Jul : 7.36 22.50 0.40 20.00 3.50 0.00 6.76 Major importers 8/ : June : 25.22 47.77 38.06 89.93 2.19 -5.82 24.74 July : 26.02 49.17 37.22 89.65 2.24 -4.32 24.84 Mexico Jun : 1.10 0.68 1.50 2.05 0.25 0.03 0.95 Jul : 1.12 0.68 1.50 2.05 0.20 0.03 1.03 China Jun : 14.59 31.00 17.00 54.00 0.05 -6.00 14.54 Jul : 15.09 32.50 16.50 54.00 0.05 -4.50 14.54 EU-27 9/ Jun : 0.81 1.69 1.86 2.11 1.52 0.05 0.68 Jul : 0.84 1.69 1.88 2.15 1.49 0.05 0.72 Russia Jun : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Jul : 0.22 3/ 1.43 1.43 0.00 0.00 0.22 Turkey Jun : 2.02 3.80 3.40 7.30 0.10 0.00 1.82 Jul : 2.04 3.70 3.45 7.30 0.08 0.00 1.81 Pakistan Jun : 4.09 10.40 2.30 12.40 0.15 0.03 4.21 Jul : 4.29 10.40 1.80 12.00 0.30 0.03 4.16 Indonesia Jun : 0.35 0.03 2.25 2.20 0.02 0.05 0.36 Jul : 0.35 0.03 2.25 2.20 0.02 0.05 0.36 Thailand Jun : 0.47 0.04 1.90 1.95 0.00 0.03 0.44 Jul : 0.47 0.04 1.90 1.95 0.00 0.03 0.44 Bangladesh Jun : 0.52 0.07 2.40 2.50 0.00 0.01 0.49 Jul : 0.52 0.07 2.40 2.50 0.00 0.01 0.49 =============================================================================== 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-448-28 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 2005/06 World 2/ : 48.36 220.56 64.27 185.10 215.04 64.17 53.97 United States : 6.96 83.37 0.09 47.32 52.41 25.78 12.23 Total foreign : 41.40 137.19 64.18 137.78 162.63 38.39 41.74 Major exporters 3/ : 33.80 101.14 0.66 61.26 65.74 35.63 34.23 Argentina : 16.96 40.50 0.58 31.89 33.34 7.25 17.45 Brazil : 16.75 57.00 0.06 28.29 31.17 25.91 16.73 Major importers 4/ : 6.40 18.99 53.16 56.66 72.20 0.42 5.94 China : 4.70 16.35 28.32 34.50 44.54 0.35 4.47 EU-27 : 0.88 1.17 13.95 13.53 14.99 0.05 0.97 Japan : 0.26 0.23 3.96 2.82 4.19 0.00 0.25 Mexico : 0.05 0.19 3.67 3.82 3.86 0.00 0.04 : : 2006/07 (Estimated) World 2/ : 53.97 236.07 69.78 195.00 225.21 70.45 64.17 United States : 12.23 86.77 0.11 48.44 53.10 29.67 16.34 Total foreign : 41.74 149.30 69.67 146.55 172.10 40.79 47.83 Major exporters 3/ : 34.23 112.70 1.77 64.95 69.61 37.50 41.59 Argentina : 17.45 47.20 1.70 33.90 35.42 8.00 22.93 Brazil : 16.73 59.00 0.05 29.70 32.65 24.60 18.54 Major importers 4/ : 5.94 18.77 57.05 60.64 76.34 0.48 4.94 China : 4.47 16.20 30.00 36.70 46.83 0.41 3.43 EU-27 : 0.97 1.24 15.42 15.10 16.57 0.05 1.02 Japan : 0.25 0.23 4.10 2.93 4.31 0.00 0.27 Mexico : 0.04 0.08 3.93 3.97 4.01 0.00 0.04 : : 2007/08 (Projected) World 2/ : June : 63.60 225.32 74.89 203.43 234.28 75.53 54.00 July : 64.17 222.05 75.31 203.44 234.17 75.49 51.87 United States : June : 16.59 74.71 0.11 48.72 53.31 29.39 8.70 July : 16.34 71.44 0.11 48.99 53.47 27.76 6.67 Total foreign : June : 47.01 150.62 74.78 154.71 180.97 46.14 45.30 July : 47.83 150.61 75.20 154.45 180.71 47.73 45.20 Major exporters 3/ : June : 40.72 114.20 1.22 69.25 74.03 42.89 39.22 July : 41.59 114.20 1.87 69.25 74.01 44.49 39.17 Argentina Jun : 22.06 47.00 1.15 38.50 40.10 8.60 21.51 Jul : 22.93 47.00 1.80 38.50 40.08 10.20 21.46 Brazil Jun : 18.54 61.00 0.06 29.30 32.28 29.69 17.63 Jul : 18.54 61.00 0.06 29.30 32.28 29.69 17.63 Major importers 4/ : June : 4.94 17.98 61.37 62.94 79.09 0.52 4.67 July : 4.94 17.97 61.44 63.01 79.16 0.52 4.67 China Jun : 3.43 15.60 34.50 39.70 50.00 0.45 3.08 Jul : 3.43 15.60 34.50 39.70 50.00 0.45 3.08 EU-27 Jun : 1.02 1.05 14.88 14.44 15.89 0.05 1.01 Jul : 1.02 1.05 14.88 14.44 15.89 0.05 1.01 Japan Jun : 0.27 0.23 4.15 2.93 4.33 0.00 0.32 Jul : 0.27 0.23 4.15 2.93 4.33 0.00 0.32 Mexico Jun : 0.04 0.10 3.88 3.94 3.98 0.00 0.04 Jul : 0.04 0.10 3.95 4.01 4.05 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-448-29 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2005/06 World 2/ : 5.93 145.60 50.57 145.70 51.32 5.09 United States : 0.16 37.42 0.13 30.10 7.32 0.29 Total foreign : 5.78 108.19 50.44 115.60 44.00 4.80 Major exporters 3/ : 3.40 51.63 0.20 11.71 40.77 2.75 Argentina : 0.94 25.02 0.00 0.57 24.19 1.20 Brazil : 1.58 21.84 0.20 9.60 12.90 1.12 India : 0.88 4.77 0.00 1.55 3.68 0.43 Major importers 4/ : 1.20 39.27 29.44 67.76 1.09 1.06 EU-27 : 0.86 10.64 22.82 32.76 0.70 0.87 China : 0.00 27.30 0.84 27.78 0.36 0.00 : : 2006/07 (Estimated) World 2/ : 5.09 153.53 52.98 153.21 53.22 5.17 United States : 0.29 38.26 0.15 30.85 7.58 0.27 Total foreign : 4.80 115.28 52.83 122.36 45.64 4.90 Major exporters 3/ : 2.75 54.97 0.23 12.74 42.30 2.90 Argentina : 1.20 26.65 0.00 0.60 26.11 1.15 Brazil : 1.12 23.05 0.23 10.20 12.66 1.54 India : 0.43 5.27 0.00 1.95 3.54 0.21 Major importers 4/ : 1.06 42.21 30.06 71.16 1.11 1.06 EU-27 : 0.87 11.89 23.30 34.57 0.62 0.87 China : 0.00 29.05 0.35 28.95 0.45 0.00 : : 2007/08 (Projected) World 2/ : June : 5.16 160.35 55.18 159.22 56.03 5.43 July : 5.17 160.38 55.39 159.41 56.11 5.42 United States : June : 0.27 38.63 0.15 31.16 7.62 0.27 July : 0.27 38.86 0.15 31.39 7.62 0.27 Total foreign : June : 4.89 121.72 55.03 128.06 48.41 5.16 July : 4.90 121.52 55.24 128.02 48.49 5.15 Major exporters 3/ : June : 2.90 58.37 0.22 13.49 44.81 3.20 July : 2.90 58.37 0.22 13.49 44.81 3.20 Argentina Jun : 1.15 30.23 0.00 0.64 29.34 1.40 Jul : 1.15 30.23 0.00 0.64 29.34 1.40 Brazil Jun : 1.54 22.74 0.22 10.88 12.00 1.62 Jul : 1.54 22.74 0.22 10.88 12.00 1.62 India Jun : 0.21 5.41 0.00 1.98 3.47 0.18 Jul : 0.21 5.41 0.00 1.98 3.47 0.18 Major importers 4/ : June : 1.06 44.21 30.87 73.87 1.20 1.06 July : 1.06 44.12 30.98 73.87 1.24 1.04 EU-27 Jun : 0.87 11.37 23.50 34.24 0.61 0.88 Jul : 0.87 11.37 23.60 34.32 0.65 0.86 China Jun : 0.00 31.48 0.50 31.43 0.55 0.00 Jul : 0.00 31.48 0.50 31.43 0.55 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-448-30 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2005/06 World 2/ : 2.89 34.49 8.92 33.58 9.82 2.89 United States : 0.77 9.25 0.02 8.15 0.52 1.37 Total foreign : 2.12 25.24 8.90 25.43 9.30 1.53 Major exporters 3/ : 0.99 13.80 0.74 6.40 8.33 0.80 Argentina : 0.34 5.95 0.00 0.40 5.60 0.30 Brazil : 0.45 5.43 0.03 3.13 2.47 0.31 EU-27 : 0.20 2.42 0.71 2.87 0.27 0.19 Major importers 4/ : 0.64 7.23 3.22 10.60 0.12 0.37 China : 0.25 6.15 1.52 7.61 0.11 0.20 India : 0.39 1.08 1.68 2.97 0.01 0.17 Pakistan : 0.01 0.00 0.02 0.02 0.00 0.00 : : 2006/07 (Estimated) World 2/ : 2.89 35.99 9.79 35.85 10.08 2.74 United States : 1.37 9.14 0.01 8.53 0.66 1.33 Total foreign : 1.53 26.85 9.77 27.33 9.42 1.41 Major exporters 3/ : 0.80 14.69 0.93 7.19 8.45 0.78 Argentina : 0.30 6.32 0.00 0.52 5.85 0.25 Brazil : 0.31 5.68 0.01 3.29 2.37 0.33 EU-27 : 0.19 2.70 0.93 3.38 0.23 0.20 Major importers 4/ : 0.37 7.76 3.74 11.41 0.13 0.33 China : 0.20 6.56 1.85 8.32 0.11 0.18 India : 0.17 1.19 1.85 3.05 0.02 0.14 Pakistan : 0.00 0.01 0.04 0.04 0.00 0.00 : : 2007/08 (Projected) World 2/ : June : 2.73 37.53 10.03 37.49 10.38 2.41 July : 2.74 37.55 10.07 37.60 10.43 2.34 United States : June : 1.33 9.22 0.02 8.94 0.64 0.99 July : 1.33 9.27 0.02 9.03 0.64 0.96 Total foreign : June : 1.40 28.31 10.02 28.56 9.75 1.42 July : 1.41 28.29 10.06 28.57 9.79 1.39 Major exporters 3/ : June : 0.78 15.33 1.06 7.55 8.80 0.82 July : 0.78 15.36 1.06 7.60 8.82 0.77 Argentina Jun : 0.25 7.13 0.00 0.70 6.35 0.32 Jul : 0.25 7.15 0.00 0.73 6.40 0.27 Brazil Jun : 0.33 5.63 0.01 3.47 2.20 0.30 Jul : 0.33 5.63 0.01 3.47 2.20 0.30 EU-27 Jun : 0.20 2.58 1.05 3.38 0.25 0.20 Jul : 0.20 2.58 1.05 3.41 0.23 0.20 Major importers 4/ : June : 0.33 8.34 3.48 11.73 0.05 0.36 July : 0.33 8.34 3.63 11.86 0.07 0.36 China Jun : 0.18 7.11 1.85 8.87 0.05 0.22 Jul : 0.18 7.11 2.00 9.02 0.05 0.22 India Jun : 0.14 1.22 1.58 2.80 0.00 0.14 Jul : 0.14 1.22 1.58 2.78 0.02 0.14 Pakistan Jun : 0.00 0.01 0.05 0.06 0.00 0.00 Jul : 0.00 0.01 0.05 0.06 0.00 0.00 =============================================================================== 1/ Data based on local marketing years except for Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil and EU. 4/ India, China and Pakistan. WASDE-448-31 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 2006 : III : 6834 5087 11999 8884 1419 10429 22428 1894 44.7 IV : 6513 5625 12224 8801 1473 10395 22619 1917 44.6 Annual : 26153 21055 47540 35752 5686 41943 89483 7572 181.8 : 2007 : I : 6235 5396 11720 8574 1410 10099 21819 1861 46.0 II : 6655 5125 11861 9025 1475 10625 22486 1855 47.4 III*: 6850 5250 12179 9050 1450 10620 22799 1900 45.5 IV*: 6330 5875 12289 9050 1490 10655 22944 1920 45.3 Annual : Jun Proj : 26140 21461 47940 35649 5825 41949 89889 7536 184.3 Jul Proj : 26070 21646 48049 35699 5825 41999 90048 7536 184.3 : 2008 : I*: 6200 5450 11737 8850 1425 10395 22132 1885 47.3 II*: 6750 5300 12131 9250 1490 10870 23001 1890 48.3 Annual : Jun Proj : 26315 21625 48269 36425 5875 42795 91064 7660 188.4 Jul Proj : 26315 21975 48619 36525 5875 42895 91514 7685 188.4 =============================================================================== * 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 Products1/ =============================================================================== Year : Choice : Barrows : : : : : and : steers :and gilts : Broilers : Turkeys : Eggs : Milk : quarter : 2/ : 3/ : 4/ : 5/ : 6/ : 7/ : =============================================================================== : Dol./cwt Dol./cwt Cents/lb. Cents/lb. Cents/doz. Dol./cwt 2006 : III : 85.40 51.83 67.8 79.4 64.0 12.23 IV : 86.61 46.13 65.9 89.8 89.0 13.90 Annual : 85.41 47.26 64.4 77.0 71.8 12.90 : 2007 : I : 90.61 46.04 75.0 69.7 105.3 15.00 II : 93.45 52.55 80.3 77.9 92.0 18.20 III*: 87-91 51-53 78-82 83-87 88-92 21.70-22.10 IV*: 85-91 45-49 73-79 87-93 91-97 21.15-21.85 Annual : Jun Proj : 89-92 49-51 76-79 77-80 92-95 18.55-18.95 Jul Proj : 89-92 49-50 77-79 80-82 94-97 19.00-19.30 : 2008 : I*: 84-92 45-49 73-79 71-77 95-103 19.50-20.50 II*: 85-93 47-51 74-80 73-79 83-89 18.15-19.15 Annual : Jun Proj : 84-90 47-51 73-79 73-79 89-97 17.90-18.90 Jul Proj : 84-90 46-50 73-79 75-81 89-97 18.20-19.20 =============================================================================== *Projection. 1/ Simple average of months. 2/ Nebraska, Direct, 1100-1300 lbs. 3/ National Base, Live equiv 51-52% lean. 4/ Wholesale, 12-city average. 5/ 8-12 lbs, hens Eastern Region. 6/ Grade A large, New York, volume buyers. 7/ Prices received by farmers for all milk. WASDE-448-32 U.S. Meats Supply and Use ============================================================================ : Supply : Use :--------------------------------------------------------- : : : : : : : Disappearance : : 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 : 2006 : 571 26258 3085 29914 1153 630 28131 65.7 2007 Proj. Jun : 630 26245 3235 30110 1314 550 28246 65.3 Jul : 630 26175 3200 30005 1334 550 28121 65.0 2008 Proj. Jun : 550 26420 3300 30270 1580 600 28090 64.4 Jul : 550 26420 3300 30270 1580 600 28090 64.4 : PORK : 2006 : 494 21075 989 22558 2997 514 19047 49.3 2007 Proj. Jun : 514 21481 929 22924 3112 540 19272 49.4 Jul : 514 21666 954 23134 3002 540 19592 50.2 2008 Proj. Jun : 540 21645 930 23115 3270 550 19295 49.0 Jul : 540 21995 955 23490 3095 550 19845 50.4 : TOTAL RED MEAT 5/ : 2006 : 1080 47679 4264 53023 4168 1166 47689 116.5 2007 Proj. Jun : 1166 48078 4359 53603 4438 1110 48055 116.3 Jul : 1166 48187 4352 53705 4345 1111 48249 116.8 2008 Proj. Jun : 1110 48407 4428 53945 4860 1170 47915 114.9 Jul : 1111 48757 4453 54321 4685 1171 48465 116.3 : BROILERS : 2006 : 924 35369 47 36340 5272 745 30323 86.9 2007 Proj. Jun : 745 35268 51 36064 5250 700 30114 85.5 Jul : 745 35317 60 36122 5250 650 30222 85.8 2008 Proj. Jun : 700 36035 48 36783 5515 775 30493 85.7 Jul : 650 36134 48 36832 5515 775 30542 85.9 : TURKEYS : 2006 : 206 5612 12 5829 546 218 5065 16.9 2007 Proj. Jun : 218 5749 11 5978 554 250 5174 17.1 Jul : 218 5749 11 5978 554 230 5194 17.2 2008 Proj. Jun : 250 5798 12 6060 605 290 5165 16.9 Jul : 230 5798 12 6040 605 275 5160 16.9 : TOTAL POULTRY 6/ : 2006 : 1132 41485 61 42678 5978 969 35732 104.9 2007 Proj. Jun : 969 41491 65 42525 5957 955 35613 103.6 Jul : 969 41540 74 42583 5967 886 35730 104.0 2008 Proj. Jun : 955 42328 63 43345 6255 1070 36020 103.8 Jul : 886 42427 63 43375 6270 1056 36049 103.9 : RED MEAT & POULTRY: 2006 : 2212 89164 4325 95701 10146 2135 83421 221.4 2007 Proj. Jun : 2135 89569 4424 96128 10395 2065 83668 219.9 Jul : 2135 89727 4426 96288 10312 1997 83979 220.8 2008 Proj. Jun : 2065 90735 4491 97290 11115 2240 83935 218.7 Jul : 1997 91184 4516 97696 10955 2227 84514 220.2 ============================================================================ 1/ Total including farm production for red meats and, for poultry, federally inspected plus non-federally inspected, less condemnations. 2/ Pounds, retail-weight basis. 3/ Population source: Dept. of Commerce, Census Bureau. 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-448-33 U.S. Egg Supply and Use =============================================================================== : : : 2007 Projected : 2008 Projected : : :-----------------:----------------- Commodity : 2005 : 2006 : Jun : Jul : Jun : Jul =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 14.5 16.0 12.5 12.5 13.0 12.0 Production : 7509.0 7572.0 7536.0 7536.0 7660.0 7685.0 Imports : 12.9 10.8 13.9 13.9 14.0 14.0 Total supply : 7536.4 7598.8 7562.4 7562.4 7687.0 7711.0 : Use : Exports : 203.3 202.0 255.4 255.4 250.0 250.0 Hatching use : 999.8 994.0 993.8 1008.8 995.0 1010.0 Ending stocks : 16.0 12.5 13.0 12.0 12.0 12.0 Disappearance : Total : 6317.3 6390.3 6300.2 6286.2 6430.0 6439.0 Per capita (number) : 255.3 255.7 249.8 249.2 252.6 252.9 =============================================================================== U.S. Milk Supply and Use =============================================================================== : : : 2007 Projected : 2008 Projected Commodity : : :-----------------:----------------- : 2005 : 2006 : Jun : Jul : Jun : Jul =============================================================================== : Billion pounds Milk : Production : 176.9 181.8 184.3 184.3 188.4 188.4 Farm use : 1.1 1.1 1.1 1.1 1.1 1.1 : Fat Basis Supply : Beg. commercial stocks : 7.2 8.0 9.5 9.5 8.7 8.7 Marketings : 175.8 180.7 183.2 183.1 187.2 187.2 Imports : 5.0 5.0 4.8 4.8 4.8 4.8 Total cml. supply : 187.9 193.6 197.5 197.5 200.7 200.8 : Fat Basis Use : Ending commercial stks : 8.0 9.5 8.7 8.7 8.0 8.0 CCC net removals 1/ : -0.0 0.0 0.0 0.0 0.0 0.0 Commercial use 2/ : 179.9 184.1 188.8 188.8 192.7 192.8 : Skim-solids Basis Supply : Beg. commercial stocks : 8.2 9.0 9.1 9.1 8.8 8.8 Marketings : 175.8 180.7 183.2 183.1 187.2 187.2 Imports : 4.8 4.8 4.6 4.6 4.7 4.7 Total cml. supply : 188.8 194.4 196.9 196.8 200.7 200.7 : Skim-solids Basis Use : Ending commercial stks : 9.0 9.1 8.8 8.8 8.6 8.6 CCC net removals 1/ : -1.0 0.7 0.0 0.0 0.0 0.0 Commercial use 2/ : 180.8 184.5 188.1 188.0 192.1 192.1 : : Million pounds CCC product net removals 1/: Butter : 0 0 0 0 0 0 Cheese : -2 0 0 0 0 0 Nonfat dry milk : -81 64 0 0 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-448-34 U.S. Dairy Prices =============================================================================== : : : 2007 Projected : 2008 Projected : : :-----------------:------------------ Commodity : 2005 : 2006 : Jun : Jul : Jun : Jul =============================================================================== : Dollars per pound : Product Prices 1/ : Cheese : 1.4875 1.2470 1.605- 1.675- 1.485- 1.550- : 1.645 1.705 1.585 1.650 : Butter : 1.5405 1.2193 1.370- 1.370- 1.350- 1.335- : 1.440 1.430 1.480 1.465 : Nonfat dry milk : 0.9409 0.8928 1.610- 1.665- 1.560- 1.590- : 1.650 1.695 1.630 1.660 : Dry whey : 0.2782 0.3285 0.685- 0.685- 0.650- 0.650- : 0.705 0.705 0.680 0.680 : : Dollars per cwt Milk Prices 2/ : Class III : 14.05 11.89 17.30- 18.00- 15.95- 16.55- : 17.70 18.30 16.95 17.55 : Class IV : 12.87 11.06 17.85- 18.15- 17.25- 17.45- : 18.35 18.55 18.35 18.55 : All milk 3/ : 15.13 12.90 18.55- 19.00- 17.90- 18.20- : 18.95 19.30 18.90 19.20 : =============================================================================== 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-448-35 Note: Tables on pages 35-37 present a 26-year record of the differences between the July projection and the final estimate. Using world wheat production as an example, changes between the July projection and the final estimate have averaged 13.7 million tons (2.5%) ranging from -34.6 to 23.7 million tons. The July projection has been below the estimate 15 times and above 11 times. Reliability of July Projections =============================================================================== :Differences between proj. & final estimate,1981/82-2006/07 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== WHEAT :Percent Million metric tons Number of years 2/ Production : World : 2.5 13.7 -34.6 23.7 15 11 U.S. : 2.8 1.7 -6.2 5.4 11 15 Foreign : 2.8 13.3 -32.0 21.1 15 11 Exports : World : 4.5 5.1 -14.5 11.3 15 11 U.S. : 8.0 2.6 -10.0 7.8 16 10 Foreign : 5.2 4.4 -10.8 7.1 16 10 Domestic use : World : 1.7 9.0 -25.7 17.4 17 9 U.S. : 5.7 1.7 -5.0 3.6 12 14 Foreign : 1.6 8.1 -22.4 15.9 18 8 Ending stocks : World : 9.3 12.0 -26.0 27.0 16 10 U.S. : 14.0 3.2 -10.2 13.9 13 13 Foreign : 9.7 10.1 -25.0 13.8 16 10 : COARSE GRAINS 3/ : Production : World : 2.5 20.8 -68.4 53.6 13 13 U.S. : 7.0 15.4 -32.6 57.7 11 15 Foreign : 2.1 12.8 -37.9 28.2 12 14 Exports : World : 6.0 6.3 -11.1 17.8 17 9 U.S. : 14.4 7.6 -20.9 15.0 9 17 Foreign : 13.2 6.9 -19.7 14.2 16 10 Domestic use : World : 1.5 12.5 -23.9 26.7 13 13 U.S. : 3.8 7.1 -14.5 22.2 18 8 Foreign : 1.6 10.0 -15.3 30.5 14 12 Ending stocks : World : 13.8 18.3 -60.2 41.0 15 11 U.S. : 30.3 14.8 -50.5 39.5 9 17 Foreign : 12.2 10.1 -27.0 9.9 18 8 : RICE, milled : Production : World : 2.0 7.0 -24.0 14.2 17 9 U.S. : 4.1 0.2 -0.5 0.4 14 10 Foreign : 2.1 7.0 -24.3 14.3 17 9 Exports : World : 7.8 1.6 -6.7 0.9 18 8 U.S. : 8.1 0.2 -1.0 0.7 13 11 Foreign : 8.7 1.5 -6.5 0.7 18 8 Domestic use : World : 1.6 5.4 -22.4 22.9 17 9 U.S. : 6.9 0.2 -0.4 0.5 10 16 Foreign : 1.6 5.4 -22.9 22.8 17 9 Ending stocks : World : 10.9 4.9 -15.6 8.0 20 6 U.S. : 24.8 0.3 -0.6 1.0 15 10 Foreign : 11.8 5.0 -16.5 8.4 20 6 =============================================================================== 1/ Footnotes at end of table. CONTINUED WASDE-448-36 Reliability of July Projections (Continued) =============================================================================== :Differences between proj. & final estimate,1981/82-2006/07 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== SOYBEANS :Percent Million metric tons Number of years 2/ Production : World : 4.0 5.5 -15.2 18.0 12 14 U.S. : 6.0 3.8 -9.8 11.7 13 13 Foreign : 6.6 5.1 -10.4 13.7 14 12 Exports : World : 6.7 2.6 -10.7 8.5 15 11 U.S. : 10.7 2.3 -6.0 6.2 14 12 Foreign : 17.5 2.3 -9.9 6.0 13 13 Domestic use : World : 3.5 4.7 -9.9 12.5 17 9 U.S. : 4.5 1.8 -4.4 4.5 17 9 Foreign : 4.1 3.9 -8.8 8.3 16 10 Ending stocks : World : 12.5 2.8 -10.6 4.9 17 9 U.S. : 41.6 2.8 -6.5 8.2 10 16 Foreign : 17.7 3.2 -9.8 5.1 17 9 : COTTON : Million 480-pound bales Production : World : 4.1 3.7 -14.9 10.3 17 9 U.S. : 9.1 1.5 -5.2 3.6 17 9 Foreign : 4.0 2.9 -12.1 10.5 14 11 Exports : World : 6.0 1.7 -7.2 6.3 14 12 U.S. : 18.2 1.2 -3.5 3.6 17 9 Foreign : 6.8 1.3 -3.7 2.7 10 16 Mill use : World : 2.7 2.3 -7.9 3.4 13 13 U.S. : 7.4 0.6 -1.4 1.3 14 11 Foreign : 2.8 2.3 -7.4 4.0 13 13 Ending stocks : World : 14.6 5.4 -14.3 15.3 18 8 U.S. : 32.8 1.6 -4.9 2.4 12 14 Foreign : 14.1 4.5 -13.9 12.9 19 7 =============================================================================== 1/ Final estimate for 1981/82-2005/06 is defined as the first November estimate following the marketing year and for 2006/07 last month's estimate. 2/ May not total 26 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. WASDE-448-37 Reliability of United States July Projections 1/ =============================================================================== :Differences between proj. & final estimate,1981/82-2006/07 2/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== CORN :Percent Million bushels Number of years 3/ Production : 7.6 553 -1172 2034 14 12 Exports : 15.5 280 -775 546 10 15 Domestic use : 4.3 271 -558 770 18 8 Ending stocks : 35.6 528 -1840 1343 10 16 : SORGHUM : Production : 13.9 80 -213 176 13 13 Exports : 17.6 40 -115 97 12 14 Domestic use : 15.0 54 -139 113 11 15 Ending stocks : 50.1 62 -174 157 10 16 : BARLEY : Production : 6.7 26 -87 62 8 17 Exports : 31.8 18 -92 43 17 8 Domestic use : 9.2 31 -47 87 12 14 Ending stocks : 20.9 34 -50 114 9 17 : OATS : Production : 10.6 26 -39 144 4 21 Exports : 63.8 2 -5 8 7 10 Domestic use : 5.6 19 -39 67 9 16 Ending stocks : 14.5 16 -33 68 9 17 : : Thousand short tons SOYBEAN MEAL : Production : 4.2 1293 -3271 4432 18 8 Exports : 13.9 898 -2450 1764 13 13 Domestic use : 3.9 882 -1550 4470 13 13 Ending stocks : 29.2 70 -204 413 10 15 : : Million pounds SOYBEAN OIL : Production : 4.2 622 -1753 1553 17 9 Exports : 23.9 369 -1550 1219 15 11 Domestic use : 2.8 360 -985 758 16 9 Ending stocks : 35.7 539 -1297 1568 12 14 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 1.2 301 -514 694 16 9 Pork : 0.9 149 -277 436 13 12 Broilers : 0.7 168 -301 469 15 10 Turkeys : 1.2 50 -134 101 18 7 : : Million dozen Eggs : 0.8 49 -48 115 18 7 : : Billion pounds Milk : 0.8 1.1 -3.6 3.9 13 12 =============================================================================== 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 and for 2006/07 last month's estimate. 3/ May not total 26 for crops and 25 for animal production if projection was the same as the final estimate. 4/ Calendar years 1982 thru 2006 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS. --------- End of File ---------