ISSN: 1554-9089 WASDE - 468 March 11, 2009 WHEAT: U.S. wheat ending stocks for 2008/09 are projected 57 million bushels higher this month with higher projected imports and lower expected domestic use and exports. Imports are raised 10 million bushels reflecting the strong pace to date. Food use is projected 25 million bushels lower based on the latest mill grind data from the U.S. Bureau of Census. High extraction rates for 2008-crop wheat have reduced the amount of grain needed to produce flour and lower per capita consumption is reducing demand for flour. Seed use is lowered 2 million bushels reflecting lower expected 2009-crop acreage. Exports are projected 20 million bushels lower as increased exports by major competitors limit opportunities for U.S. wheat. Lower projected exports of hard red winter, hard red spring, and durum wheats are only partly offset by an increase for white wheat. The projected season-average farm price is unchanged at $6.70 to $6.90 per bushel. Global 2008/09 wheat production is projected 1.6 million tons higher this month to a record 684.4 million. Production is raised 1.4 million tons for Australia with higher harvested area and better-than-expected yields, especially in Western Australia. Smaller upward revisions are also made for Morocco, India, Mexico, and Bangladesh. Partly offsetting is a reduction for Turkmenistan. World imports and exports for 2008/09 are projected higher this month. Imports are raised 1.0 million tons for Iran and 0.3 million tons each for Azerbaijan, Turkey, and the United States. Imports are also raised 0.2 million tons for Turkmenistan. Partly offsetting are reductions of 0.3 million tons each for Indonesia and Morocco, and 0.2 million tons for the Philippines. Exports are raised 1.0 million tons for Australia with the increase in production. Exports are also raised 1.0 million tons for Russia based on the strong pace of shipments to date. Exports are raised 0.5 million tons for Ukraine based on the pace of sales and shipments and 0.5 million tons for EU-27 based on license and shipment data. Partly offsetting are reductions of 0.8 million tons for China and 0.5 million tons for the United States. Projected world wheat consumption for 2008/09 is lowered 3.7 million tons, mostly reflecting lower expected feed use in Russia and reduced food use in the United States. Global ending stocks are raised 5.9 million tons with larger stocks in Russia, the United States, Iran, and China accounting for most of the increase. At 155.9 million tons, world ending stocks are projected at a 6-year high. COARSE GRAINS: U.S. corn ending stocks for 2008/09 are projected 50 million bushels lower this month as higher ethanol use more than offsets a reduction in exports. Corn use for ethanol is projected 100 million bushels higher on indications of improving blender incentives and higher ethanol use. Blender margins have become increasingly favorable since late February as gasoline prices have risen relative to those for ethanol. A continuing recovery in weekly production of gasoline blends with ethanol is also supportive of ethanol demand as are the latest data on ethanol production, imports, and stocks which indicate record use in December. Corn exports are projected 50 million bushels lower on sales and shipments to date, and pressure from increased foreign supplies of corn and wheat. Other 2008/09 feed grain balance sheet changes include a 5-million-bushel reduction in projected barley exports and 5-million-bushel increases in both projected imports and feed and residual use for oats. The 2008/09 season-average farm price for corn is projected at $3.90 to $4.30 per bushel compared with $3.65 to $4.15 last month. Continued strength in prices received by producers indicates higher-than-expected forward contracting as farmers took advantage of pricing opportunities last spring and summer. The farm price for barley is projected higher at $5.10 to $5.30 per bushel compared with $4.95 to $5.35 last month. The oats farm price is projected 5 cents higher on both ends of the range at $3.05 to $3.25 per bushel. Global coarse grain output for 2008/09 is nearly unchanged with higher corn production offset by lower sorghum and barley production. Global coarse grain supplies for 2008/09 are raised 2.2 million tons mostly reflecting upward revisions to 2007/08 corn production and carryout in Argentina and Mexico, and lower 2007/08 corn feeding in South Africa. World corn production for 2008/09 is raised 0.6 million tons as an increase for South Africa more than offsets downward post-harvest revisions for India and Kenya. South Africa production is projected 1.5 million tons higher this month at 12.0 million. Despite some late December dryness that delayed plantings in western growing areas, weather conditions throughout the Maize Triangle have been extremely favorable again this year. Rainfall was above average in both January and February. This year=s crop has developed through pollination and, in eastern growing areas, well into grain fill with little or no stress. India corn production is reduced 0.5 million tons on lower harvested area and yields. Kenya production is reduced 0.4 million tons on lower yields. Global sorghum production for 2008/09 is lowered 0.5 million tons with a reduction for Argentina partly offset by an increase for India. Argentina sorghum production is lowered 1.3 million tons with lower projected harvested area and yields. Early season drought that continued in southern growing areas through February has increased expected abandonment and reduced yield prospects for this year=s crop. Sorghum production for India is raised 0.7 million tons on higher reported yields. India barley production, however, is lowered 0.2 million tons on lower yields. World corn imports, exports, and consumption for 2008/09 are all projected lower this month. Imports are lowered 0.5 million tons each for Malaysia and Taiwan. Partly offsetting is a 0.5-million-ton increase for Kenya imports. Lower expected corn exports for the United States are only partly offset by small increases for India and Russia. Global corn consumption is lowered with reductions in expected feeding and food, seed, and industrial use. Feed use is lowered 2.2 million tons with reductions for China, Taiwan, Malaysia, and South Africa. Food, seed, and industrial use is also lowered 2.2 million tons with a 5.0-million-ton reduction for China and a 0.6-million-ton reduction for India more than offsetting increases for the United States, South Africa, and the Philippines. Government procurement policies in China are expected to reduce industrial corn use, including ethanol, and boost stocks. Global corn ending stocks are projected 8.0 million tons higher with the largest increase for China where stocks are projected 6.0 million tons higher. Increases are also projected for South Africa, Argentina, and Mexico. RICE: No changes are made on the supply side of the U.S. 2008/09 rice supply and use balance. Domestic and residual use is unchanged from a month ago; however, all rice exports for 2008/09 are lowered 4 million cwt to 94 million. Rough and combined milled and brown exports (on a rough- equivalent basis) are each lowered 2.0 million cwt. Long- grain and combined medium- and short-grain export projections are each lowered 2 million cwt to 72 million and 22 million, respectively. All rice ending stocks are projected at 30.2 million cwt, 4 million above last month, but less than 1 million above 2007/08. The all rice season-average farm price for 2008/09 is forecast at $15.50 to $16.50 per cwt, down 50 cents on both ends of the range from a month ago. The long-grain season-average farm price range is projected at $14.50 to $15.50 per cwt, down 50 cents on each end of the range. The combined medium- and short-grain farm price range is projected at $20.50 to $21.50 per cwt, unchanged from a month ago. Weaker than expected demand for U.S. long-grain rice, particularly for long-grain milled and brown rice, combined with monthly farm prices reported by National Agricultural Statistics Service (NASS) through February (preliminary price) supports a lowering of both the all rice and long-grain season-average farm prices. Medium- and short-grain farm prices remain strong due to both tight global supplies and the possibility of reduced plantings and production in California in 2009/10 due to drought. Global 2008/09 rice production, trade, and stocks are increased from last month while consumption is lowered. The increase in world production is due mostly to an increase in India, estimated at a record 98.9 million tons, up 1.4 million from last month. Global production is estimated at a record 441.0 million tons, up 2 percent from the previous year. World consumption is projected at a record 433.4 million tons, down 0.7 million from last month, but up 1 percent from 2007/08. Global exports are raised largely due to an increase in India, up 0.5 million tons from a month ago. Imports are projected higher in a number of markets with the largest increases in Saudi Arabia, Yemen, and Malaysia which are partially offset by reductions in Bangladesh and South Africa. Global ending stocks are raised mostly due to the increase in India, up 1.5 million tons. India’s ending stocks are estimated at 17.0 million tons, the largest stocks since 2001/02. OILSEEDS: U.S. soybean ending stocks for 2008/09 are projected at 185 million bushels, down 25 million as increased soybean exports are only partly offset by lower crush. Soybean exports are raised 35 million bushels to 1.185 billion reflecting record sales to China and reduced export competition from Argentina. Soybean crush is reduced 10 million bushels to 1.640 billion because of continued weak domestic soybean meal demand and poor crush margins. Despite lower production, soybean oil stocks are projected higher due to a sharp reduction in domestic use resulting from lower soybean oil-based biodiesel production. Soybean oil used for biodiesel is reduced 0.7 billion pounds to 2.2 billion as biodiesel producers face poor margins, reduced export prospects, and strong competition from other feedstocks. The U.S. season-average soybean price range is projected at $8.85 to $9.85 per bushel, up 10 cents on both ends of the range. The soybean meal price projection is unchanged at $265 to $305 per short ton. The soybean oil price is projected at 28.5 to 31.5 cents per pound, down 2.5 cents on both ends of the range. Global oilseed production for 2008/09 is projected at 407.7 million tons, down 0.3 million tons from last month. Higher rapeseed and peanut production only partly offsets lower soybean, sunflowerseed, and cottonseed production. Global soybean production is reduced 0.9 million tons to 223.3 million. Soybean production for Argentina is projected at 43.0 million tons, down 0.8 million from last month due to lower harvested area. Soybean production for Brazil is projected at 57 million, unchanged from last month. Global rapeseed production is raised 0.7 million tons to a record 57.5 million mainly due to higher output in China. The area, yield, and production revisions are based on recently released data from the National Bureau of Statistics. Other changes include increased peanut production for China, increased rapeseed production for Australia, and reduced sunflowerseed production for Argentina. SUGAR: Projected 2008/09 U.S. sugar supply is decreased 85,000 short tons, raw value, from last month, due to reduced production. Processor indications of higher storage losses and lower rates of sugar extraction reduce beet sugar production 25,000 tons. Florida cane sugar is reduced 60,000 tons based on lower sugarcane production. Sugar use is unchanged. LIVESTOCK, POULTRY, AND DAIRY: Total U.S. meat production for 2009 is forecast lower this month as a slight increase in red meat output is more than offset by lower poultry production. The beef production forecast is raised from last month as carcass weights are forecast higher. In addition, cow slaughter is forecast higher as dairy herd liquidation is expected to increase during the year. Pork production is forecast slightly higher than last month as hog weights are increased slightly. Higher than expected feeder pig imports in the last quarter of 2008 are expected to lead to higher slaughter in the first half of the year but lower forecast hog imports in 2009 lead to reduced forecasts of second half slaughter. Broiler production forecasts are lowered as hatchery data point to continued reductions in eggs set and chicks placed. Turkey production is also forecast lower as there are no indications that hatchery flocks will expand before midyear. Total egg production is forecast lower as a fractional increase in the first quarter table egg output is more than offset by lower forecast hatching egg production, which reflects reduced forecasts for broilers. Production estimates for 2008 reflect recently released annual revisions. Export forecasts for 2009 for major meats are unchanged. Export estimates for 2008 are adjusted to reflect December data. Price forecasts for cattle, hogs, broilers, turkey, and eggs are reduced, reflecting expected weakness in demand. Milk production for 2009 is lowered from last month. Cow numbers for 2009 are forecast higher than last month because recent revisions to 2008 cow estimates indicated a larger-than-expected dairy herd. However, milk production forecasts for 2009 are lowered as milk per cow growth is forecast slower, reflecting poor returns. The herd liquidation rate during 2009 is raised from last month. Trade forecasts for 2009 are unchanged from last month. CCC net removals are reduced as early demand strength is helping absorb dairy products and reduced production later in the year is expected to help limit supplies. Milk production estimates for 2008 are revised higher. Trade estimates for 2008 reflect December data. Ending stocks for 2008 are raised to reflect recently published revisions. Milk price estimates for 2009 are raised. Forecasts for butter and cheese prices are raised from last month as demand has been stronger than expected and later year reductions in milk supplies are expected to support product prices. Nonfat dry milk and whey prices are unchanged. As a result of higher cheese and butter prices, the annual Class III and Class IV price forecasts are raised. The all milk price is also forecast higher this month at $11.25 to $11.85 per cwt. COTTON: The 2008/09 U.S. cotton estimates include lower domestic mill use and higher exports compared with last month. Production is unchanged. Domestic mill use is reduced 150,000 bales to 3.75 million, as both mill activity and retail demand continue to weaken. In contrast, exports are raised 500,000 bales to 12.0 million, as recent export sales indicate a stronger U.S. share of world trade than previously projected. U.S. ending stocks are reduced 5 percent to 7.3 million bales. The forecast season-average price range of 46 to 52 cents per pound is reduced 1 cent on the lower end and 2 cents on the upper end of the range, as market prices have fallen sharply in the past month. This month’s world 2008/09 estimates show lower production, consumption, and trade. World production is reduced slightly, due mainly to reductions for China and Pakistan. World consumption is cut by 1.4 percent from last month to 111.1 million bales, including reductions for China, India, the United States, Bangladesh, Brazil, Taiwan, and others. World trade is reduced slightly as an increase in forecast imports by China is more than offset by reductions for other importing countries. Exports are lowered in India and Uzbekistan, but raised in the United States. World ending stocks are raised slightly to 62.5 million bales, about even with the beginning level. Approved by the Secretary of Agriculture and the Chairperson of the World Agricultural Outlook Board, Gerald A. Bange, (202) 720-6030. This report was prepared by the Interagency Commodity Estimates Committees. APPROVED BY: JOSEPH W. GLAUBER ACTING SECRETARY OF AGRICULTURE WASDE-468-8 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/ : 2006/07 : 2,004.72 2,393.15 260.26 2,052.83 340.32 2007/08 (Est.) : 2,123.70 2,464.02 274.17 2,105.57 358.45 2008/09 (Proj.) : February : 2,222.60 2,578.73 255.17 2,165.39 413.34 March : 2,225.47 2,583.92 256.08 2,154.78 429.14 Wheat : 2006/07 : 596.10 743.56 111.58 616.58 126.98 2007/08 (Est.) : 610.98 737.97 116.58 617.83 120.14 2008/09 (Proj.) : February : 682.78 802.37 123.48 652.41 149.96 March : 684.43 804.56 125.34 648.71 155.85 Coarse grains 4/ : 2006/07 : 987.97 1,153.26 117.36 1,014.82 138.44 2007/08 (Est.) : 1,080.59 1,219.03 126.79 1,059.27 159.76 2008/09 (Proj.) : February : 1,100.08 1,257.64 102.72 1,078.86 178.77 March : 1,100.09 1,259.86 101.42 1,072.63 187.22 Rice, milled : 2006/07 : 420.65 496.33 31.32 421.43 74.90 2007/08 (Est.) : 432.13 507.02 30.80 428.47 78.55 2008/09 (Proj.) : February : 439.74 518.72 28.97 434.12 84.60 March : 440.95 519.50 29.33 433.43 86.07 : : United States Total grains 3/ : 2006/07 : 335.48 413.69 85.99 277.84 49.85 2007/08 (Est.) : 412.03 469.21 107.73 307.15 54.32 2008/09 (Proj.) : February : 400.63 461.58 78.59 314.50 68.49 March : 400.63 461.94 76.54 316.39 69.01 Wheat : 2006/07 : 49.22 68.08 24.73 30.94 12.41 2007/08 (Est.) : 55.82 71.30 34.40 28.57 8.32 2008/09 (Proj.) : February : 68.03 79.34 27.22 34.29 17.84 March : 68.03 79.61 26.67 33.56 19.39 Coarse grains 4/ : 2006/07 : 280.00 337.32 58.34 242.80 36.17 2007/08 (Est.) : 349.86 389.54 69.88 274.60 45.06 2008/09 (Proj.) : February : 326.09 374.21 48.24 276.15 49.81 March : 326.09 374.29 46.87 278.77 48.65 Rice, milled : 2006/07 : 6.27 8.29 2.92 4.10 1.27 2007/08 (Est.) : 6.34 8.37 3.45 3.98 0.94 2008/09 (Proj.) : February : 6.52 8.03 3.13 4.06 0.84 March : 6.52 8.03 3.01 4.06 0.97 =============================================================================== 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-468-9 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/ : 2006/07 : 1,669.24 1,979.46 174.27 1,774.99 290.47 2007/08 (Est.) : 1,711.68 1,994.82 166.44 1,798.42 304.12 2008/09 (Proj.) : February : 1,821.97 2,117.15 176.57 1,850.89 344.85 March : 1,824.84 2,121.98 179.53 1,838.39 360.13 Wheat : 2006/07 : 546.88 675.49 86.85 585.64 114.57 2007/08 (Est.) : 555.16 666.67 82.18 589.26 111.81 2008/09 (Proj.) : February : 614.75 723.03 96.27 618.12 132.13 March : 616.40 724.95 98.67 615.16 136.46 Coarse grains 5/ : 2006/07 : 707.97 815.94 59.02 772.02 102.27 2007/08 (Est.) : 730.73 829.50 56.92 784.67 114.70 2008/09 (Proj.) : February : 774.00 883.43 54.48 802.71 128.96 March : 774.00 885.56 54.55 793.86 138.57 Rice, milled : 2006/07 : 414.38 488.03 28.40 417.33 73.63 2007/08 (Est.) : 425.78 498.65 27.35 424.50 77.61 2008/09 (Proj.) : February : 433.22 510.69 25.84 430.06 83.76 March : 434.44 511.47 26.32 429.38 85.10 =============================================================================== 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 2006/07 : 121.99 184.20 37.10 123.43 62.82 2007/08 (Est.) : 120.55 183.37 38.46 122.74 62.52 2008/09 (Proj.) : February : 109.51 171.86 29.33 112.63 61.71 March : 108.65 171.17 29.05 111.11 62.55 : United States 2006/07 : 21.59 27.68 13.01 4.94 9.48 2007/08 (Est.) : 19.21 28.70 13.65 4.61 10.04 2008/09 (Proj.) : February : 13.04 23.09 11.50 3.90 7.70 March : 13.04 23.09 12.00 3.75 7.30 : Foreign 3/ 2006/07 : 100.40 156.53 24.09 118.50 53.34 2007/08 (Est.) : 101.34 154.67 24.80 118.14 52.48 2008/09 (Proj.) : February : 96.47 148.77 17.83 108.73 54.01 March : 95.61 148.08 17.05 107.36 55.25 =============================================================================== 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-468-10 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 : 2006/07 : 404.48 469.22 83.55 328.59 73.34 2007/08 (Est.) : 391.55 464.88 92.69 338.31 62.52 2008/09 (Proj.) : February : 408.02 469.96 90.68 342.21 61.58 March : 407.74 470.26 91.21 341.26 62.68 Oilmeals : 2006/07 : 224.52 232.44 68.37 222.88 7.79 2007/08 (Est.) : 231.02 238.81 71.20 230.01 7.44 2008/09 (Proj.) : February : 231.82 239.19 70.57 231.63 6.63 March : 231.17 238.61 70.33 231.12 6.59 Vegetable Oils : 2006/07 : 121.33 131.98 48.26 121.46 9.89 2007/08 (Est.) : 127.86 137.75 51.58 126.06 9.93 2008/09 (Proj.) : February : 133.01 142.77 52.46 130.70 10.35 March : 132.70 142.63 52.42 130.54 10.58 : : United States Oilseeds : 2006/07 : 96.84 112.08 31.65 53.48 17.02 2007/08 (Est.) : 82.45 100.74 33.11 53.43 6.91 2008/09 (Proj.) : February : 89.10 97.29 32.42 49.20 7.31 March : 89.10 97.29 33.37 48.92 6.66 Oilmeals : 2006/07 : 41.51 43.57 8.26 34.92 0.39 2007/08 (Est.) : 40.86 43.23 8.74 34.16 0.33 2008/09 (Proj.) : February : 37.87 40.36 7.95 32.08 0.33 March : 37.72 40.15 7.94 31.88 0.33 Vegetable Oils : 2006/07 : 10.41 14.75 1.33 11.66 1.75 2007/08 (Est.) : 10.52 15.38 1.68 12.21 1.49 2008/09 (Proj.) : February : 9.74 14.58 0.98 12.25 1.35 March : 9.66 14.50 0.98 11.93 1.59 : : Foreign 3/ Oilseeds : 2006/07 : 307.63 357.14 51.91 275.11 56.31 2007/08 (Est.) : 309.10 364.14 59.57 284.88 55.61 2008/09 (Proj.) : February : 318.92 372.66 58.26 293.02 54.28 March : 318.65 372.97 57.84 292.34 56.02 Oilmeals : 2006/07 : 183.01 188.87 60.11 187.96 7.40 2007/08 (Est.) : 190.16 195.58 62.46 195.85 7.11 2008/09 (Proj.) : February : 193.94 198.82 62.62 199.55 6.30 March : 193.45 198.46 62.39 199.24 6.26 Vegetable Oils : 2006/07 : 110.93 117.23 46.92 109.80 8.14 2007/08 (Est.) : 117.34 122.38 49.90 113.84 8.44 2008/09 (Proj.) : February : 123.27 128.19 51.48 118.45 9.00 March : 123.04 128.13 51.43 118.61 8.99 =============================================================================== 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-468-11 U.S. Wheat Supply and Use 1/ =============================================================================== : : : 2008/09 Projections Item : 2006/07 : 2007/08 :============================== : : Est. : February March =============================================================================== Area : Million acres Planted : 57.3 60.5 63.1 63.1 Harvested : 46.8 51.0 55.7 55.7 Yield per harvested : Bushels acre : 38.6 40.2 44.9 44.9 : Million bushels Beginning stocks : 571 456 306 306 Production : 1,808 2,051 2,500 2,500 Imports : 122 113 110 120 Supply, total : 2,501 2,620 2,915 2,925 Food : 938 947 950 925 Seed : 82 88 80 78 Feed and residual : 117 15 230 230 Domestic, total : 1,137 1,050 1,260 1,233 Exports : 908 1,264 1,000 980 Use, total : 2,045 2,314 2,260 2,213 Ending stocks : 456 306 655 712 CCC inventory : 41 0 0 0 Free stocks : 415 306 655 712 Outstanding loans : 14 1 10 10 Avg. farm price ($/bu) 2/ : 4.26 6.48 6.70- 6.90 6.70- 6.90 =============================================================================== U.S. Wheat by Class: Supply and Use =============================================================================== Year beginning : Hard : Hard : Soft : : : June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 2007/08 (estimated) : Million bushels Beginning stocks : 165 117 109 44 21 456 Production : 956 450 352 221 72 2,051 Supply, total 3/ : 1,121 615 475 275 134 2,620 Domestic use : 446 242 211 68 84 1,050 Exports : 538 305 209 170 42 1,264 Use, total : 984 547 420 238 126 2,314 Ending stocks, total : 138 68 55 37 8 306 : 2008/09 (projected) : Beginning stocks : 138 68 55 37 8 306 Production : 1,035 512 614 254 85 2,500 Supply, total 3/ : 1,174 630 694 298 130 2,925 Domestic use : 458 242 346 106 80 1,233 Exports : 438 205 190 130 17 980 Use, total : 896 448 536 236 98 2,213 Ending stocks, total : March : 278 182 158 62 33 712 February : 248 160 153 74 21 655 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning June 1. 2/ Marketing-year weighted average price received by farmers. 3/ Includes imports. WASDE-468-12 U.S. Feed Grain and Corn Supply and Use 1/ =============================================================================== : : : 2008/09 Projections Item : 2006/07 : 2007/08 :============================== : : Est. : February March =============================================================================== FEED GRAINS : Area : Million acres Planted : 92.5 109.0 101.7 101.7 Harvested : 80.1 98.3 91.1 91.1 Yield per harvested : Metric tons acre : 3.49 3.56 3.58 3.58 : Million metric tons Beginning stocks : 54.7 36.2 45.1 45.1 Production : 279.8 349.7 325.9 325.9 Imports : 2.4 3.3 2.9 3.0 Supply, total : 337.0 389.2 373.9 374.0 Feed and residual : 148.1 157.8 143.8 143.9 Food, seed & industrial : 94.4 116.5 132.1 134.6 Domestic, total : 242.5 274.3 275.8 278.5 Exports : 58.3 69.9 48.2 46.9 Use, total : 300.8 344.1 324.1 325.3 Ending stocks, total : 36.2 45.1 49.8 48.6 CCC inventory : 0.0 0.0 0.0 0.0 Free stocks : 36.2 45.1 49.8 48.6 Outstanding loans : 3.0 2.7 5.1 5.1 : CORN : Area : Million acres Planted : 78.3 93.5 86.0 86.0 Harvested : 70.6 86.5 78.6 78.6 Yield per harvested : Bushels acre : 149.1 150.7 153.9 153.9 : Million bushels Beginning stocks : 1,967 1,304 1,624 1,624 Production : 10,531 13,038 12,101 12,101 Imports : 12 20 15 15 Supply, total : 12,510 14,362 13,740 13,740 Feed and residual : 5,591 5,938 5,300 5,300 Food, seed & industrial : 3,490 4,363 4,900 5,000 Ethanol for fuel 2/ : 2,119 3,026 3,600 3,700 Domestic, total : 9,081 10,302 10,200 10,300 Exports : 2,125 2,436 1,750 1,700 Use, total : 11,207 12,737 11,950 12,000 Ending stocks, total : 1,304 1,624 1,790 1,740 CCC inventory : 0 0 0 0 Free stocks : 1,304 1,624 1,790 1,740 Outstanding loans : 116 106 200 200 Avg. farm price ($/bu) 3/ : 3.04 4.20 3.65- 4.15 3.90- 4.30 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a further breakout of FSI corn uses including ethanol, see the ERS Feed Outlook table 5, or Feed Grains Database at "www.ers.usda.gov/db/feedgrains." 3/ Marketing-year weighted average price received by farmers. WASDE-468-13 U.S. Sorghum, Barley and Oats Supply and Use 1/ =============================================================================== : : : 2008/09 Projections Item : 2006/07 : 2007/08 :============================== : : Est. : February March =============================================================================== : Million bushels SORGHUM : Area planted (mil. acres) : 6.5 7.7 8.3 8.3 Area harv. (mil. acres) : 4.9 6.8 7.3 7.3 Yield (bushels/acre) : 56.1 73.2 65.0 65.0 Beginning stocks : 66 32 53 53 Production : 277 497 472 472 Imports : 0 0 0 0 Supply, total : 343 530 525 525 Feed and residual : 113 164 220 220 Food, seed & industrial : 45 35 110 110 Total domestic : 158 199 330 330 Exports : 153 278 130 130 Use, total : 311 477 460 460 Ending stocks, total : 32 53 65 65 Avg. farm price ($/bu) 2/ : 3.29 4.08 3.05- 3.35 3.05- 3.35 : BARLEY : Area planted (mil. acres) : 3.5 4.0 4.2 4.2 Area harv. (mil. acres) : 3.0 3.5 3.8 3.8 Yield (bushels/acre) : 61.1 60.0 63.6 63.6 Beginning stocks : 108 69 68 68 Production : 180 210 239 239 Imports : 12 32 30 30 Supply, total : 300 311 338 338 Feed and residual : 49 32 70 70 Food, seed & industrial : 162 169 170 170 Total domestic : 211 201 240 240 Exports : 20 41 20 15 Use, total : 231 242 260 255 Ending stocks, total : 69 68 78 83 Avg. farm price ($/bu) 2/ : 2.85 4.02 4.95- 5.35 5.10- 5.30 : OATS : Area planted (mil. acres) : 4.2 3.8 3.2 3.2 Area harv. (mil. acres) : 1.6 1.5 1.4 1.4 Yield (bushels/acre) : 59.8 60.1 63.5 63.5 Beginning stocks : 53 51 67 67 Production : 94 90 89 89 Imports : 106 123 110 115 Supply, total : 252 264 265 270 Feed and residual : 125 120 120 125 Food, seed & industrial : 74 74 75 75 Total domestic : 199 195 195 200 Exports : 3 3 3 3 Use, total : 202 198 198 203 Ending stocks, total : 51 67 67 67 Avg. farm price ($/bu) 2/ : 1.87 2.63 3.00- 3.20 3.05- 3.25 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for sorghum, June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers. WASDE-468-14 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) =============================================================================== : : : 2008/09 Projections Item : 2006/07 : 2007/08 :============================== : : Est. : February March =============================================================================== TOTAL : Area : Million acres Planted : 2.84 2.76 3.00 3.00 Harvested : 2.82 2.75 2.98 2.98 Yield per harvested : Pounds acre : 6,898 7,219 6,846 6,846 : : Million hundredweight Beginning stocks 2/ : 43.0 39.3 29.4 29.4 Production : 194.6 198.4 203.7 203.7 Imports : 20.6 23.9 18.0 18.0 Supply, total : 258.2 261.6 251.2 251.2 Domestic & residual 3/ : 128.1 124.2 127.0 127.0 Exports, total 4/ : 90.8 107.9 98.0 94.0 Rough : 32.1 40.2 38.0 36.0 Milled (rough equiv.) : 58.7 67.8 60.0 58.0 Use, total : 218.8 232.2 225.0 221.0 Ending stocks : 39.3 29.4 26.2 30.2 Avg. milling yield (%) 5/ : 71.0 70.5 70.5 70.5 Avg. farm price ($/cwt) 6/ : 9.96 12.80 16.00-17.00 15.50-16.50 : LONG GRAIN : Harvested acres (mil.) : 2.19 2.05 2.35 2.35 Yield (pounds/acre) : 6,727 6,980 6,522 6,522 Beginning stocks : 32.7 28.5 19.0 19.0 Production : 147.1 143.2 153.3 153.3 Supply, total 7/ : 194.0 189.4 187.3 187.3 Domestic & Residual 3/ : 93.4 88.5 95.0 95.0 Exports 8/ : 72.0 81.9 74.0 72.0 Use, total : 165.4 170.4 169.0 167.0 Ending stocks : 28.5 19.0 18.3 20.3 Avg. farm price ($/cwt) 6/ : 9.47 12.40 15.00-16.00 14.50-15.50 : MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.64 0.70 0.63 0.63 Yield (pounds/acre) : 7,484 7,924 8,063 8,063 Beginning stocks : 9.4 10.0 9.1 9.1 Production : 47.5 55.2 50.5 50.5 Supply, total 7/ : 63.4 70.8 62.6 62.6 Domestic & Residual 3/ : 34.6 35.7 32.0 32.0 Exports 8/ : 18.8 26.1 24.0 22.0 Use, total : 53.4 61.8 56.0 54.0 Ending stocks : 10.0 9.1 6.6 8.6 Avg. farm price ($/cwt) 6/ : 12.10 14.60 20.50-21.50 20.50-21.50 =============================================================================== Note: Totals may not add due to rounding. 1/ Marketing year beginning August 1. 2/ Includes the following quantities of broken kernel rice (type undetermined) not included in estimates of beginning stocks by type (in mil. cwt): 2006/07-0.9; 2007/08-0.8; 2008/09-1.3. 3/ Residual includes unreported use, processing losses, and estimating errors. Use by type may not add to total rice use because of the difference in brokens between beginning and ending stocks. 4/ Includes rough rice and milled rice exports. Milled rice exports are converted to an equivalent rough basis. 5/ Expressed as a percent, i.e., the total quantity of whole kernel and broken rice produced divided by the quantity of rough rice milled. 6/ Marketing-year weighted average price received by farmers. 7/ Includes imports. 8/ Exports by type of rice are estimated. WASDE-468-15 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ =============================================================================== : : : 2008/09 Projections Item : 2006/07 : 2007/08 :=============================== : : Est. : February March =============================================================================== SOYBEANS: : Million acres Area : Planted : 75.5 64.7 75.7 75.7 Harvested : 74.6 64.1 74.6 74.6 : : Bushels Yield per harvested : acre : 42.9 41.7 39.6 39.6 : : Million bushels : Beginning stocks : 449 574 205 205 Production : 3,197 2,677 2,959 2,959 Imports : 9 10 9 9 Supply, total : 3,655 3,261 3,173 3,173 Crushings : 1,808 1,801 1,650 1,640 Exports : 1,116 1,161 1,150 1,185 Seed : 80 93 90 90 Residual : 77 0 73 73 Use, total : 3,081 3,056 2,963 2,988 Ending stocks : 574 205 210 185 Avg. farm price ($/bu) 2/ : 6.43 10.10 8.75- 9.75 8.85 - 9.85 : : : Million pounds SOYBEAN OIL: : Beginning stocks : 3,010 3,085 2,483 2,483 Production : 20,489 20,568 18,810 18,645 Imports : 37 65 50 50 Supply, total : 23,536 23,718 21,343 21,178 Domestic : 18,575 18,327 17,600 16,900 For methyl ester : 2,762 2,981 2,900 2,200 Exports : 1,877 2,908 1,500 1,500 Use, total : 20,451 21,235 19,100 18,400 Ending stocks : 3,085 2,483 2,243 2,778 Average price (c/lb) 2/ : 31.02 52.03 31.00- 28.50- : 34.00 31.50 : : Thousand short tons SOYBEAN MEAL: : Beginning stocks : 314 346 294 294 Production : 43,054 42,242 38,991 38,841 Imports : 156 141 165 165 Supply, total : 43,524 42,729 39,450 39,300 Domestic : 34,374 33,155 30,750 30,600 Exports : 8,804 9,280 8,400 8,400 Use, total : 43,178 42,435 39,150 39,000 Ending stocks : 346 294 300 300 Average price ($/s.t.) 2/ : 205.44 335.94 265.00- 265.00- : 305.00 305.00 =============================================================================== Note: Reliability calculations at end of report. 1/ Marketing year beginning September 1 for soybeans; October 1 for soybean oil and meal. 2/ Prices: Soybeans, marketing year weighted average price received by farmers; for Oil, simple average of crude soybean oil, Decatur; for Meal, simple average of 48 percent, Decatur. WASDE-468-16 U.S. Sugar Supply and Use 1/ ====================================================================== : : : 2008/09 Projection Item : 2006/07 : 2007/08 :====================== : : Est. : February March ====================================================================== : 1,000 short tons, raw value : Beginning stocks : 1,698 1,799 1,660 1,660 Production : 8,446 8,152 7,715 7,630 Beet sugar : 5,008 4,721 4,225 4,200 Cane sugar : 3,438 3,431 3,490 3,430 Florida : 1,719 1,645 1,670 1,610 Hawaii : 222 182 225 225 Louisiana : 1,320 1,446 1,425 1,425 Texas : 177 158 170 170 Imports : 2,080 2,620 2,531 2,531 TRQ 2/ : 1,624 1,354 1,496 1,496 Other program 3/ : 390 565 345 345 Other 4/ : 66 701 690 690 Mexico : 60 694 680 680 Total supply : 12,224 12,571 11,906 11,821 : Exports : 422 203 130 130 Deliveries : 10,135 10,773 10,710 10,710 Food : 9,913 10,571 10,500 10,500 Other 5/ : 222 202 210 210 Miscellaneous 6/ : -132 -65 0 0 Total use : 10,425 10,911 10,840 10,840 Ending stocks : 1,799 1,660 1,066 981 : Stocks to use ratio : 17.3 15.2 9.8 9.0 ====================================================================== 1/ Fiscal years beginning Oct 1. Historical data are from "Sweetener Market Data" (SMD) except imports (U.S. Customs Service, Census Bureau). 2/ For 2008/09, includes tariff rate quota shortfall of 130,000 tons. 3/ Includes sugar under the re-export and polyhydric alcohol programs. 4/ Does not include Mexico TRQ imports. For 2006/07, other high-tier (0) and other (6). For 2007/08, other high-tier (7) and other (0). For 2008/09, other high-tier (10) and other (0). 5/ Transfers to sugar-containing products for reexport, and for nonedible alcohol and feed. 6/ Includes SMD miscellaneous uses and the difference between SMD imports and WASDE imports. Mexico Sugar Supply and Use 1/ ========================================================================== : Supply : Use : Fiscal :====================================================: Ending year : Beginning : Production: Imports : Domestic: Exports: stocks : stocks : : : : : ========================================================================== 1,000 metric tons, raw value Sugar 2007/08 est. Feb 1,718 5,852 226 5,731 677 1,388 Mar 1,718 5,852 226 5,731 677 1,388 2008/09 proj. Feb 1,388 5,850 115 5,780 620 953` Mar 1,388 5,850 115 5,780 620 953 ========================================================================== 1/ U.S. HFCS exports to Mexico (metric tons, dry-weight basis): Oct-Sep 2007/08 = 427,705; Oct-Dec 2007 = 92,887; Oct-Dec 2008 = 86,295. Footnote source: U.S. Census Bureau. WASDE-468-17 U. S. Cotton Supply and Use 1/ =============================================================================== : : : 2008/09 Projections Item : 2006/07 : 2007/08 :=============================== : : Est. : February March =============================================================================== : Million acres Area : Planted : 15.27 10.83 9.47 9.47 Harvested : 12.73 10.49 7.73 7.73 : : Pounds Yield per harvested : acre : 814 879 810 810 : : Million 480 pound bales : Beginning stocks 2/ : 6.07 9.48 10.04 10.04 Production : 21.59 19.21 13.04 13.04 Imports : 0.02 0.01 0.01 0.01 Supply, total : 27.68 28.70 23.09 23.09 Domestic use : 4.94 4.61 3.90 3.75 Exports : 13.01 13.65 11.50 12.00 Use, total : 17.95 18.26 15.40 15.75 Unaccounted 3/ : 0.25 0.39 -0.01 0.04 Ending stocks : 9.48 10.04 7.70 7.30 : Avg. farm price 4/ : 46.5 59.3 47.0-54.0 46.0-52.0 =============================================================================== Note: Reliability calculations at end of report. 1/ Upland and extra-long staple; marketing year beginning August 1. Totals may not add due to rounding. 2/ Based on Bureau of Census data. 3/ Reflects the difference between the previous season's supply less total use and ending stocks based on Bureau of Census data. 4/ Cents per pound for upland cotton. =============================================================================== WASDE-468-18 World Wheat Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2006/07 : World 3/ : 147.46 596.10 114.02 106.16 616.58 111.58 126.98 United States : 15.55 49.22 3.32 3.19 30.94 24.73 12.41 Total foreign : 131.92 546.88 110.70 102.98 585.64 86.85 114.57 Major exporters 4/ : 43.21 176.16 5.56 69.82 146.85 52.54 25.54 Argentina : 0.50 15.20 0.01 0.08 4.90 10.50 0.31 Australia : 9.62 10.82 0.09 4.70 7.40 8.73 4.41 Canada : 9.70 25.27 0.32 4.84 9.05 19.43 6.80 EU-27 5/ : 23.39 124.87 5.14 60.20 125.50 13.87 14.03 Major importers 6/ : 59.56 174.73 55.31 7.70 220.58 5.68 63.34 Brazil : 1.00 2.23 8.05 0.20 10.30 0.00 0.98 China : 34.39 108.47 0.38 4.00 102.00 2.78 38.45 Select. Mideast 7/ : 6.82 20.10 10.52 1.55 30.31 0.55 6.58 N. Africa 8/ : 10.51 18.58 16.30 0.25 33.90 0.26 11.23 Pakistan : 3.25 21.28 0.07 0.40 21.90 0.70 1.99 Southeast Asia 9/ : 2.20 0.00 10.65 0.90 9.98 0.42 2.46 Selected other : India : 2.00 69.35 6.72 0.30 73.36 0.20 4.50 FSU-12 : 13.00 84.98 5.96 21.65 72.53 22.54 8.86 Russia : 3.81 44.90 0.86 14.10 36.40 10.79 2.38 Kazakhstan : 3.01 13.50 0.03 2.70 7.50 8.09 0.95 Ukraine : 2.41 14.00 0.08 2.10 11.70 3.37 1.43 : : 2007/08 (Estimated) : World 3/ : 126.98 610.98 113.20 94.11 617.83 116.58 120.14 United States : 12.41 55.82 3.07 0.41 28.57 34.40 8.32 Total foreign : 114.57 555.16 110.14 93.70 589.26 82.18 111.81 Major exporters 4/ : 25.54 169.63 7.45 58.08 135.35 47.09 20.17 Argentina : 0.31 16.30 0.00 0.08 5.13 11.18 0.30 Australia : 4.41 13.84 0.11 3.50 6.20 7.50 4.65 Canada : 6.80 20.05 0.39 2.06 6.29 16.14 4.82 EU-27 5/ : 14.03 119.44 6.94 52.44 117.74 12.27 10.40 Major importers 6/ : 63.34 175.04 58.09 8.52 222.78 8.80 64.90 Brazil : 0.98 3.83 6.71 0.10 10.30 0.77 0.45 China : 38.45 109.30 0.05 6.00 104.00 2.84 40.96 Select. Mideast 7/ : 6.58 20.29 9.37 1.00 29.33 0.55 6.36 N. Africa 8/ : 11.23 13.82 21.74 0.20 35.49 0.25 11.05 Pakistan : 1.99 23.30 1.49 0.40 22.40 2.20 2.18 Southeast Asia 9/ : 2.46 0.00 9.90 0.42 9.58 0.60 2.18 Selected other : India : 4.50 75.81 1.88 0.20 75.73 0.05 6.41 FSU-12 : 8.86 92.69 6.02 23.63 75.56 21.88 10.13 Russia : 2.38 49.40 0.44 15.05 37.70 12.22 2.30 Kazakhstan : 0.95 16.60 0.04 2.70 7.50 8.18 1.91 Ukraine : 1.43 13.90 0.33 3.10 12.90 1.24 1.53 =============================================================================== 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-468-19 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: =============================================================================== : : 2008/09 (Projected) World 3/ : February : 119.59 682.78 123.00 122.93 652.41 123.48 149.96 March : 120.14 684.43 124.52 119.68 648.71 125.34 155.85 United States : February : 8.32 68.03 2.99 6.26 34.29 27.22 17.84 March : 8.32 68.03 3.27 6.26 33.56 26.67 19.39 Total foreign : February : 111.27 614.75 120.01 116.67 618.12 96.27 132.13 March : 111.81 616.40 121.26 113.42 615.16 98.67 136.46 Major exporters 4/ : February : 20.17 207.43 6.40 69.33 149.26 54.50 30.25 March : 20.17 208.77 6.48 69.33 149.26 56.00 30.16 Argentina Feb : 0.30 8.40 0.03 0.08 5.08 3.50 0.15 Mar : 0.30 8.40 0.03 0.08 5.08 3.50 0.15 Australia Feb : 4.65 20.15 0.08 3.75 6.45 13.00 5.43 Mar : 4.65 21.50 0.08 3.75 6.45 14.00 5.78 Canada Feb : 4.82 28.61 0.30 3.50 8.23 19.00 6.50 Mar : 4.82 28.61 0.38 3.50 8.23 19.00 6.58 EU-27 5/ Feb : 10.40 150.27 6.00 62.00 129.50 19.00 18.17 Mar : 10.40 150.26 6.00 62.00 129.50 19.50 17.66 Major importers 6/ : February : 64.35 174.71 65.80 12.75 229.12 7.33 68.42 March : 64.90 175.04 66.00 12.75 229.02 6.58 70.34 Brazil Feb : 0.45 5.80 6.00 0.40 10.75 0.80 0.70 Mar : 0.45 5.80 6.00 0.40 10.75 0.80 0.70 China Feb : 40.96 113.00 0.10 9.00 107.00 1.50 45.56 Mar : 40.96 113.00 0.10 9.00 107.00 0.75 46.31 Sel. Mideast 7/Feb : 6.36 13.91 16.95 1.65 30.60 0.55 6.06 Mar : 6.36 13.91 17.95 1.65 30.60 0.55 7.06 N. Africa 8/ Feb : 11.05 15.78 20.00 0.20 35.73 0.23 10.87 Mar : 11.05 16.01 19.70 0.20 35.73 0.23 10.80 Pakistan Feb : 2.18 21.50 2.80 0.40 22.60 2.40 1.48 Mar : 2.18 21.50 2.80 0.40 22.60 2.40 1.48 SE Asia 9/ Feb : 1.63 0.00 10.85 0.85 10.35 0.38 1.75 Mar : 2.18 0.00 10.35 0.85 10.25 0.38 1.90 Selected other : India Feb : 6.41 78.40 0.00 0.10 77.60 0.20 7.01 Mar : 6.41 78.60 0.00 0.10 77.60 0.20 7.21 FSU-12 Feb : 10.13 115.84 5.71 30.43 84.43 30.14 17.11 Mar : 10.13 115.54 6.33 27.18 81.18 31.79 19.03 Russia Feb : 2.30 63.70 0.30 20.20 44.20 15.00 7.10 Mar : 2.30 63.70 0.30 17.20 41.20 16.00 9.10 Kazakhstan Feb : 1.91 12.50 0.03 2.70 7.50 5.20 1.74 Mar : 1.91 12.50 0.10 2.70 7.50 5.20 1.81 Ukraine Feb : 1.53 25.90 0.10 4.40 14.40 9.50 3.63 Mar : 1.53 25.90 0.10 4.40 14.40 10.00 3.13 =============================================================================== 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-468-20 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: =============================================================================== : : 2006/07 : World 3/ : 165.28 987.97 113.31 634.47 1014.82 117.36 138.44 United States : 54.77 280.00 2.55 148.16 242.80 58.34 36.17 Total foreign : 110.52 707.97 110.76 486.31 772.02 59.02 102.27 Major exporters 4/ : 13.19 64.53 3.39 35.49 49.14 23.04 8.92 Argentina : 1.49 27.04 0.01 6.86 9.52 16.93 2.09 Australia : 2.90 6.58 0.02 4.74 5.99 1.97 1.56 Canada : 6.35 23.15 2.17 19.43 24.50 3.65 3.50 Major importers 5/ : 42.51 212.11 84.93 223.86 298.71 5.68 35.16 EU-27 6/ : 22.27 137.44 7.99 110.23 147.87 4.69 15.13 Japan : 1.74 0.18 19.67 14.88 19.82 0.00 1.76 Mexico : 3.34 29.14 11.06 23.40 39.93 0.22 3.39 N. Afr & Mideast 7/: 8.11 27.77 20.77 40.58 47.86 0.31 8.49 Saudi Arabia : 2.77 0.34 8.28 8.53 8.75 0.00 2.63 Southeast Asia 8/ : 2.12 16.88 3.97 15.01 20.77 0.46 1.73 South Korea : 1.38 0.33 8.80 6.96 9.16 0.00 1.35 Selected other : Brazil : 3.17 53.18 1.66 36.25 43.30 10.95 3.75 China : 35.96 159.10 1.16 105.22 153.61 5.46 37.13 FSU-12 : 5.45 58.70 0.95 35.47 51.43 8.46 5.21 Russia : 1.33 30.20 0.36 18.60 28.60 1.62 1.67 Ukraine : 2.40 19.18 0.05 9.95 13.38 6.13 2.12 : : 2007/08 (Estimated) : World 3/ : 138.44 1080.59 124.93 653.40 1059.27 126.79 159.76 United States : 36.17 349.86 3.50 157.89 274.60 69.88 45.06 Total foreign : 102.27 730.73 121.43 495.51 784.67 56.92 114.70 Major exporters 4/ : 8.92 80.02 3.48 35.36 50.29 29.87 12.26 Argentina : 2.09 26.95 0.05 7.32 9.98 17.02 2.10 Australia : 1.56 11.55 0.00 5.17 6.48 4.32 2.31 Canada : 3.50 27.82 3.27 18.53 24.07 6.51 4.02 Major importers 5/ : 35.16 211.88 96.56 230.28 304.28 5.39 33.94 EU-27 6/ : 15.13 136.52 20.28 117.30 154.20 4.69 13.04 Japan : 1.76 0.20 19.21 14.31 19.34 0.00 1.83 Mexico : 3.39 30.58 10.97 23.66 40.43 0.11 4.41 N. Afr & Mideast 7/: 8.49 25.08 19.68 39.14 46.12 0.01 7.11 Saudi Arabia : 2.63 0.32 9.50 9.13 9.35 0.00 3.10 Southeast Asia 8/ : 1.73 18.76 3.18 15.42 21.38 0.57 1.72 South Korea : 1.35 0.35 9.39 7.10 8.98 0.00 2.11 Selected other : Brazil : 3.75 61.34 0.91 38.25 45.39 7.64 12.98 China : 37.13 159.49 1.16 106.17 157.06 0.85 39.86 FSU-12 : 5.21 53.91 0.92 34.60 50.40 5.36 4.29 Russia : 1.67 29.33 0.52 18.78 28.93 1.21 1.38 Ukraine : 2.12 14.59 0.07 9.06 12.16 3.15 1.46 =============================================================================== 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-468-21 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: =============================================================================== : : 2008/09 (Projected) World 3/ : February : 157.55 1100.08 102.17 646.35 1078.86 102.72 178.77 March : 159.76 1100.09 101.32 642.54 1072.63 101.42 187.22 United States : February : 45.06 326.09 3.06 143.86 276.15 48.24 49.81 March : 45.06 326.09 3.15 143.95 278.77 46.87 48.65 Total foreign : February : 112.49 774.00 99.11 502.49 802.71 54.48 128.96 March : 114.70 774.00 98.17 498.59 793.86 54.55 138.57 Major exporters 4/ : February : 10.75 69.19 2.05 36.47 51.72 20.01 10.27 March : 12.26 69.43 1.95 35.27 51.06 19.41 13.18 Argentina Feb : 0.91 19.97 0.00 8.16 10.82 8.56 1.51 Mar : 2.10 18.67 0.00 7.36 10.02 8.36 2.40 Australia Feb : 2.31 11.06 0.00 5.87 7.23 4.18 1.96 Mar : 2.31 11.06 0.00 5.87 7.23 4.18 1.96 Canada Feb : 4.05 27.19 1.73 17.39 23.51 4.75 4.71 Mar : 4.02 27.19 1.73 17.29 23.41 4.35 5.18 Major importers 5/ : February : 33.29 236.82 76.69 223.09 299.79 7.07 39.95 March : 33.94 236.89 75.54 221.74 298.66 7.07 40.64 EU-27 6/ Feb : 13.04 160.12 2.76 111.25 149.95 6.40 19.57 Mar : 13.04 160.12 2.66 111.15 149.85 6.40 19.56 Japan Feb : 1.83 0.18 19.54 14.61 19.74 0.00 1.80 Mar : 1.83 0.18 19.54 14.61 19.74 0.00 1.80 Mexico Feb : 3.66 32.18 10.03 24.64 41.61 0.10 4.15 Mar : 4.41 32.18 10.03 24.54 41.51 0.10 5.00 N Afr/M.East 7/Feb : 7.21 24.65 21.10 39.11 46.35 0.01 6.59 Mar : 7.11 24.72 20.95 38.96 46.13 0.01 6.64 Saudi Arabia Feb : 3.10 0.33 8.80 8.83 9.06 0.00 3.16 Mar : 3.10 0.33 8.80 8.83 9.06 0.00 3.16 S.-east Asia 8/Feb : 1.72 18.86 3.73 15.87 21.85 0.56 1.90 Mar : 1.72 18.86 3.33 15.37 21.65 0.56 1.70 South Korea Feb : 2.11 0.34 6.57 4.75 6.93 0.00 2.09 Mar : 2.11 0.34 6.57 4.75 6.93 0.00 2.09 Selected other : Brazil Feb : 12.98 52.21 0.76 39.25 47.33 9.70 8.91 Mar : 12.98 52.21 0.76 39.25 47.33 9.70 8.91 China Feb : 39.86 173.10 1.43 112.23 166.73 0.68 46.98 Mar : 39.86 173.10 1.13 110.83 160.23 0.68 53.18 FSU-12 Feb : 4.29 78.14 0.64 40.43 57.72 13.39 11.97 Mar : 4.29 78.14 0.64 40.43 57.72 13.69 11.67 Russia Feb : 1.38 40.70 0.30 22.45 33.63 3.10 5.65 Mar : 1.38 40.70 0.30 22.45 33.63 2.90 5.85 Ukraine Feb : 1.46 26.22 0.05 10.45 13.97 9.60 4.16 Mar : 1.46 26.22 0.05 10.45 13.97 10.10 3.66 =============================================================================== 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-468-22 World Corn Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : Domestic 2/ : :stocks :Beginning:Produc-: :===============: : : stocks : tion :Imports: Feed : Total :Exports: =============================================================================== : : 2006/07 : World 3/ : 124.67 712.28 91.01 477.98 728.13 93.80 108.81 United States : 49.97 267.50 0.30 142.02 230.67 53.99 33.11 Total foreign : 74.70 444.77 90.70 335.96 497.46 39.81 75.70 Major exporters 4/ : 3.46 29.80 1.13 9.20 15.30 15.78 3.32 Argentina : 1.16 22.50 0.01 4.80 6.70 15.31 1.66 South Africa : 2.31 7.30 1.12 4.40 8.60 0.47 1.66 Major importers 5/ : 18.01 99.24 54.52 110.86 154.16 1.33 16.29 Egypt : 0.65 6.15 4.83 8.60 10.70 0.00 0.92 EU-27 6/ : 9.46 53.83 7.06 49.20 62.30 0.66 7.38 Japan : 0.94 0.00 16.71 11.90 16.50 0.00 1.15 Mexico : 2.71 22.35 8.94 15.10 30.70 0.22 3.08 Southeast Asia 7/ : 2.10 16.81 3.96 14.95 20.70 0.44 1.73 South Korea : 1.38 0.07 8.74 6.91 8.83 0.00 1.35 Selected other : Brazil : 3.02 51.00 1.41 34.50 41.00 10.84 3.59 Canada : 2.00 8.99 2.10 8.46 11.44 0.31 1.34 China : 35.26 151.60 0.02 104.00 145.00 5.27 36.60 FSU-12 : 1.66 12.85 0.52 10.51 12.14 1.12 1.77 Ukraine : 0.92 6.40 0.02 4.50 5.25 1.03 1.07 : : 2007/08 (Estimated) : World 3/ : 108.81 792.97 96.53 495.78 771.82 98.32 129.96 United States : 33.11 331.18 0.51 150.83 261.67 61.87 41.26 Total foreign : 75.70 461.79 96.02 344.95 510.15 36.44 88.71 Major exporters 4/ : 3.32 35.16 0.10 9.40 16.20 17.00 5.38 Argentina : 1.66 22.00 0.05 5.10 7.00 15.00 1.71 South Africa : 1.66 13.16 0.05 4.30 9.20 2.00 3.68 Major importers 5/ : 16.29 96.07 61.01 113.30 156.64 1.25 15.47 Egypt : 0.92 6.17 4.15 8.30 10.40 0.00 0.85 EU-27 6/ : 7.38 47.67 14.02 50.50 63.50 0.59 4.97 Japan : 1.15 0.00 16.61 11.80 16.50 0.00 1.26 Mexico : 3.08 23.40 9.56 16.20 32.00 0.11 3.93 Southeast Asia 7/ : 1.73 18.69 3.15 15.35 21.30 0.55 1.72 South Korea : 1.35 0.08 9.32 7.05 8.64 0.00 2.11 Selected other : Brazil : 3.59 58.60 0.60 36.00 42.50 7.50 12.79 Canada : 1.34 11.65 3.18 10.26 13.83 0.89 1.46 China : 36.60 152.30 0.04 105.00 149.00 0.55 39.39 FSU-12 : 1.77 13.79 0.54 11.09 12.78 2.15 1.17 Ukraine : 1.07 7.40 0.02 5.00 5.70 2.07 0.72 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina and South Africa. 5/ Egypt, the EU-27, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam. WASDE-468-23 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: =============================================================================== : : 2008/09 (Projected) World 3/ : February : 127.66 786.47 74.99 479.66 777.47 75.08 136.66 March : 129.96 787.10 74.59 477.41 772.45 74.08 144.62 United States : February : 41.26 307.39 0.38 134.63 259.09 44.45 45.48 March : 41.26 307.39 0.38 134.63 261.63 43.18 44.21 Total foreign : February : 86.41 479.09 74.61 345.04 518.38 30.63 91.18 March : 88.71 479.72 74.21 342.79 510.82 30.90 100.41 Major exporters 4/ : February : 3.88 24.00 0.20 9.80 16.30 9.50 2.28 March : 5.38 25.50 0.10 9.50 16.50 9.50 4.98 Argentina Feb : 0.56 13.50 0.00 4.80 6.70 7.00 0.36 Mar : 1.71 13.50 0.00 4.80 6.70 7.00 1.51 South Africa Feb : 3.33 10.50 0.20 5.00 9.60 2.50 1.93 Mar : 3.68 12.00 0.10 4.70 9.80 2.50 3.48 Major importers 5/ : February : 14.72 111.56 44.20 106.60 151.77 2.64 16.07 March : 15.47 111.56 43.30 105.60 151.07 2.64 16.62 Egypt Feb : 0.85 6.18 4.00 8.00 10.30 0.00 0.72 Mar : 0.85 6.18 4.00 8.00 10.30 0.00 0.72 EU-27 6/ Feb : 4.97 61.36 2.00 46.50 60.50 2.00 5.83 Mar : 4.97 61.36 2.00 46.50 60.50 2.00 5.83 Japan Feb : 1.26 0.00 16.50 11.70 16.50 0.00 1.27 Mar : 1.26 0.00 16.50 11.70 16.50 0.00 1.27 Mexico Feb : 3.18 25.00 7.50 16.00 32.00 0.10 3.58 Mar : 3.93 25.00 7.50 16.00 32.00 0.10 4.33 S.-east Asia 7/Feb : 1.72 18.79 3.70 15.80 21.78 0.54 1.90 Mar : 1.72 18.79 3.30 15.30 21.58 0.54 1.70 South Korea Feb : 2.11 0.08 6.50 4.70 6.60 0.00 2.09 Mar : 2.11 0.08 6.50 4.70 6.60 0.00 2.09 Selected other : Brazil Feb : 12.79 49.50 0.50 37.00 44.50 9.50 8.79 Mar : 12.79 49.50 0.50 37.00 44.50 9.50 8.79 Canada Feb : 1.46 10.60 1.60 7.50 11.50 0.50 1.66 Mar : 1.46 10.60 1.60 7.50 11.50 0.50 1.66 China Feb : 39.39 165.50 0.10 111.00 158.00 0.50 46.49 Mar : 39.39 165.50 0.10 110.00 152.00 0.50 52.49 FSU-12 Feb : 1.17 21.32 0.28 13.13 14.96 4.53 3.27 Mar : 1.17 21.32 0.28 13.13 14.96 4.63 3.17 Ukraine Feb : 0.72 11.40 0.03 5.40 6.10 4.00 2.04 Mar : 0.72 11.40 0.03 5.40 6.10 4.00 2.04 =============================================================================== 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-468-24 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 : =============================================================================== : : 2006/07 World 3/ : 75.68 420.65 28.55 421.43 31.32 74.90 United States : 1.37 6.27 0.65 4.10 2.92 1.27 Total foreign : 74.30 414.38 27.90 417.33 28.40 73.63 Major exporters 4/ : 15.73 139.97 0.45 117.70 22.42 16.03 India : 10.52 93.35 0.00 86.94 5.50 11.43 Pakistan : 0.30 5.45 0.00 2.21 2.84 0.70 Thailand : 3.59 18.25 0.00 9.78 9.56 2.51 Vietnam : 1.32 22.92 0.45 18.78 4.52 1.39 Major importers 5/ : 12.80 60.07 11.56 70.34 0.45 13.63 Brazil : 0.90 7.70 0.73 7.93 0.24 1.16 EU-27 6/ : 1.18 1.69 1.34 2.92 0.15 1.14 Indonesia : 3.21 35.30 2.00 35.90 0.00 4.61 Nigeria : 0.55 2.90 1.60 4.45 0.00 0.60 Philippines : 5.29 9.78 1.80 12.00 0.00 4.87 Sel. Mideast 7/ : 1.51 2.13 2.72 5.19 0.06 1.11 Selected other : Burma : 0.70 10.60 0.00 10.67 0.03 0.60 C. Amer & Carib 8/ : 0.19 0.06 0.38 0.49 0.00 0.14 China : 36.78 127.20 0.47 127.20 1.34 35.92 Egypt : 0.36 4.38 0.10 3.27 1.21 0.37 Japan : 2.40 7.79 0.68 8.25 0.20 2.41 Mexico : 0.16 0.18 0.59 0.79 0.00 0.15 South Korea : 0.82 4.68 0.26 4.89 0.16 0.70 : : 2007/08 (Estimated) World 3/ : 74.90 432.13 28.19 428.47 30.80 78.55 United States : 1.27 6.34 0.76 3.98 3.45 0.94 Total foreign : 73.63 425.78 27.43 424.50 27.35 77.61 Major exporters 4/ : 16.03 146.06 0.41 122.18 22.17 18.16 India : 11.43 96.69 0.00 90.62 4.50 13.00 Pakistan : 0.70 5.70 0.00 2.45 3.00 0.95 Thailand : 2.51 19.30 0.01 9.60 10.02 2.20 Vietnam : 1.39 24.38 0.40 19.51 4.65 2.01 Major importers 5/ : 13.63 62.14 11.11 73.51 0.67 12.71 Brazil : 1.16 8.20 0.40 8.38 0.50 0.88 EU-27 6/ : 1.14 1.68 1.57 3.11 0.15 1.12 Indonesia : 4.61 35.80 0.50 36.55 0.00 4.36 Nigeria : 0.60 3.00 1.55 4.65 0.00 0.50 Philippines : 4.87 10.48 2.70 13.50 0.00 4.55 Sel. Mideast 7/ : 1.11 2.38 3.04 5.30 0.02 1.20 Selected other : Burma : 0.60 10.73 0.05 10.25 0.54 0.59 C. Amer & Carib 8/ : 0.14 0.06 0.43 0.55 0.00 0.08 China : 35.92 130.22 0.25 127.45 0.95 37.99 Egypt : 0.37 4.39 0.02 3.66 0.45 0.67 Japan : 2.41 7.93 0.70 8.15 0.20 2.69 Mexico : 0.15 0.20 0.66 0.82 0.01 0.17 South Korea : 0.70 4.41 0.25 4.68 0.00 0.68 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. Total domestic includes both domestic use and unreported disappearance. 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-468-25 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 : =============================================================================== : : 2008/09 (Projected) World 3/ : February : 78.98 439.74 26.82 434.12 28.97 84.60 March : 78.55 440.95 26.90 433.43 29.33 86.07 United States : February : 0.94 6.52 0.57 4.06 3.13 0.84 March : 0.94 6.52 0.57 4.06 3.01 0.97 Total foreign : February : 78.04 433.22 26.25 430.06 25.84 83.76 March : 77.61 434.44 26.33 429.38 26.32 85.10 Major exporters 4/ : February : 18.16 146.70 0.31 124.24 20.20 20.73 March : 18.16 148.10 0.31 123.64 20.70 22.23 India Feb : 13.00 97.50 0.00 93.00 2.00 15.50 Mar : 13.00 98.90 0.00 92.40 2.50 17.00 Pakistan Feb : 0.95 6.30 0.00 2.70 4.00 0.55 Mar : 0.95 6.30 0.00 2.70 4.00 0.55 Thailand Feb : 2.20 19.40 0.01 9.50 9.00 3.11 Mar : 2.20 19.40 0.01 9.50 9.00 3.11 Vietnam Feb : 2.01 23.50 0.30 19.04 5.20 1.57 Mar : 2.01 23.50 0.30 19.04 5.20 1.57 Major importers 5/ : February : 13.22 62.53 10.47 73.57 0.47 12.19 March : 12.71 62.34 10.82 73.40 0.47 11.99 Brazil Feb : 0.90 8.30 0.50 8.71 0.30 0.69 Mar : 0.88 8.30 0.50 8.71 0.30 0.66 EU-27 6/ Feb : 1.12 1.83 1.05 2.84 0.15 1.01 Mar : 1.12 1.63 1.05 2.64 0.15 1.01 Indonesia Feb : 4.36 36.25 0.80 36.85 0.00 4.56 Mar : 4.36 36.25 0.80 36.85 0.00 4.56 Nigeria Feb : 0.50 3.30 1.60 4.80 0.00 0.60 Mar : 0.50 3.30 1.60 4.80 0.00 0.60 Philippines Feb : 4.55 10.65 2.00 13.15 0.00 4.05 Mar : 4.55 10.65 2.00 13.15 0.00 4.05 Sel. Mideast 7/Feb : 1.69 1.59 3.42 5.44 0.02 1.23 Mar : 1.20 1.59 3.76 5.47 0.02 1.06 Selected other : Burma Feb : 0.59 9.80 0.03 9.70 0.50 0.22 Mar : 0.59 9.80 0.03 9.70 0.50 0.22 C. Am & Car. 8/Feb : 0.08 0.05 0.39 0.47 0.00 0.05 Mar : 0.08 0.05 0.39 0.47 0.00 0.05 China Feb : 37.99 135.10 0.33 130.50 1.30 41.62 Mar : 37.99 135.10 0.33 130.50 1.30 41.62 Egypt Feb : 0.67 4.39 0.02 3.63 0.80 0.65 Mar : 0.67 4.39 0.02 3.63 0.80 0.65 Japan Feb : 2.69 8.00 0.70 8.23 0.20 2.96 Mar : 2.69 8.00 0.70 8.23 0.20 2.96 Mexico Feb : 0.17 0.21 0.60 0.83 0.01 0.14 Mar : 0.17 0.21 0.60 0.83 0.01 0.14 South Korea Feb : 0.68 4.84 0.28 4.66 0.00 1.15 Mar : 0.68 4.84 0.28 4.66 0.00 1.15 =============================================================================== 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. Total domestic includes both domestic use and unreported disappearance. 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-468-26 World Cotton Supply and Use 1/ (Million 480-pound bales) ================================================================================ : Supply : Use : : Region :=========================:================: Loss : Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ : stocks : stocks : tion : : : : : ================================================================================ : : 2006/07 : World : 62.21 121.99 37.41 123.43 37.10 -1.74 62.82 United States : 6.07 21.59 0.02 4.94 13.01 0.25 9.48 Total foreign : 56.14 100.40 37.39 118.50 24.09 -1.99 53.34 Major exporters 4/ : 19.72 45.69 2.22 27.42 20.24 -0.19 20.17 Central Asia 5/ : 2.21 8.19 0.31 1.51 6.93 0.00 2.27 Afr. Fr. Zone 6/ : 1.48 3.64 3/ 0.19 3.81 0.00 1.13 S. Hemis. 7/ : 6.55 9.86 0.95 5.78 4.09 -0.20 7.69 Australia : 1.94 1.35 3/ 0.06 2.13 -0.07 1.18 Brazil : 3.62 7.00 0.52 4.57 1.30 -0.15 5.41 India : 8.06 21.80 0.47 18.10 4.57 0.00 7.66 Major importers 8/ : 34.20 51.62 32.42 86.43 2.47 -1.81 31.15 Mexico : 1.32 0.65 1.35 2.10 0.18 0.03 1.03 China : 22.54 35.50 10.59 50.00 0.09 -2.00 20.54 EU-27 9/ : 1.18 1.61 2.01 2.35 1.58 0.06 0.83 Russia : 0.22 3/ 1.40 1.40 0.00 0.00 0.22 Turkey : 1.73 3.80 4.03 7.30 0.30 0.00 1.95 Pakistan : 4.91 9.90 2.31 12.50 0.22 0.03 4.38 Indonesia : 0.37 0.03 2.20 2.18 0.02 0.05 0.35 Thailand : 0.41 0.02 1.91 1.95 0.00 0.03 0.35 Bangladesh : 0.46 0.06 2.48 2.48 0.00 0.01 0.51 : : 2007/08 (Estimated) : World : 62.82 120.55 38.27 122.74 38.46 -2.08 62.52 United States : 9.48 19.21 0.01 4.61 13.65 0.39 10.04 Total foreign : 53.34 101.34 38.26 118.14 24.80 -2.47 52.48 Major exporters 4/ : 20.17 47.18 1.47 27.78 21.26 -0.16 19.94 Central Asia 5/ : 2.27 8.35 0.04 1.61 6.50 0.00 2.55 Afr. Fr. Zone 6/ : 1.13 2.46 3/ 0.19 2.56 0.00 0.84 S. Hemis. 7/ : 7.69 9.30 0.53 5.83 3.94 -0.18 7.93 Australia : 1.18 0.62 3/ 0.05 1.22 -0.05 0.58 Brazil : 5.41 7.36 0.16 4.60 2.23 -0.15 6.25 India : 7.66 24.60 0.45 18.30 7.03 0.00 7.38 Major importers 8/ : 31.15 51.24 34.14 85.79 2.45 -2.31 30.61 Mexico : 1.03 0.62 1.53 2.00 0.22 0.03 0.93 China : 20.54 37.00 11.53 51.50 0.06 -2.50 20.00 EU-27 9/ : 0.83 1.51 1.57 1.78 1.37 0.05 0.70 Russia : 0.22 3/ 1.20 1.23 0.00 0.00 0.20 Turkey : 1.95 3.10 3.27 6.00 0.37 0.00 1.95 Pakistan : 4.38 8.90 4.15 12.50 0.30 0.03 4.60 Indonesia : 0.35 0.03 2.30 2.23 0.02 0.05 0.39 Thailand : 0.35 0.02 1.93 1.95 0.00 0.03 0.32 Bangladesh : 0.51 0.04 2.80 2.75 0.00 0.01 0.58 ================================================================================ 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-468-27 World Cotton Supply and Use 1/ (Million 480-pound bales) ================================================================================ : Supply : Use : : Region :=========================:================: Loss : Ending :Beginning:Produc-:Imports:Domestic:Exports: 2/ : stocks : stocks : tion : : : : : ================================================================================ : : 2008/09 (Projected) World : February : 62.35 109.51 29.34 112.63 29.33 -2.48 61.71 March : 62.52 108.65 29.09 111.11 29.05 -2.46 62.55 United States : February : 10.04 13.04 0.01 3.90 11.50 -0.01 7.70 March : 10.04 13.04 0.01 3.75 12.00 0.04 7.30 Total foreign : February : 52.30 96.47 29.33 108.73 17.83 -2.47 54.01 March : 52.48 95.61 29.08 107.36 17.05 -2.50 55.25 Major exporters 4/ : February : 19.89 43.38 1.46 26.32 14.97 -0.16 23.60 March : 19.94 43.41 1.45 25.99 14.23 -0.19 24.77 Central Asia 5/Feb : 2.55 7.42 0.05 1.65 4.65 0.00 3.71 Mar : 2.55 7.47 0.05 1.65 4.40 0.00 4.01 Afr. Fr. Zn. 6/Feb : 0.84 2.53 3/ 0.19 2.26 0.00 0.92 Mar : 0.84 2.53 3/ 0.19 2.26 0.00 0.92 S. Hemis 7/ Feb : 7.88 8.39 0.51 5.58 3.81 -0.18 7.56 Mar : 7.93 8.43 0.50 5.46 3.82 -0.20 7.78 Australia Feb : 0.53 1.35 3/ 0.05 1.15 -0.05 0.73 Mar : 0.58 1.40 3/ 0.05 1.15 -0.07 0.86 Brazil Feb : 6.25 5.80 0.18 4.40 2.25 -0.15 5.73 Mar : 6.25 5.80 0.18 4.30 2.25 -0.15 5.83 India Feb : 7.38 23.00 0.45 17.20 3.50 0.00 10.13 Mar : 7.38 23.00 0.45 17.00 3.00 0.00 10.83 Major importers 8/ : February : 30.49 49.94 25.33 77.89 1.74 -2.31 28.44 March : 30.61 49.04 25.13 76.89 1.69 -2.31 28.50 Mexico Feb : 0.93 0.60 1.30 1.85 0.15 0.03 0.81 Mar : 0.93 0.62 1.30 1.80 0.15 0.03 0.87 China Feb : 20.00 36.50 6.50 47.00 0.10 -2.50 18.40 Mar : 20.00 35.80 7.00 46.50 0.10 -2.50 18.70 EU-27 9/ Feb : 0.70 1.20 1.30 1.49 0.85 0.05 0.82 Mar : 0.70 1.19 1.18 1.33 0.85 0.05 0.83 Russia Feb : 0.20 3/ 0.95 0.98 0.00 0.00 0.17 Mar : 0.20 3/ 0.95 0.98 0.00 0.00 0.17 Turkey Feb : 1.95 2.30 2.15 4.70 0.20 0.00 1.50 Mar : 1.95 2.30 2.15 4.70 0.18 0.00 1.52 Pakistan Feb : 4.48 9.20 2.75 11.50 0.38 0.03 4.53 Mar : 4.60 9.00 2.50 11.50 0.35 0.03 4.23 Indonesia Feb : 0.39 0.03 2.00 2.00 0.02 0.05 0.35 Mar : 0.39 0.03 2.00 2.00 0.02 0.05 0.35 Thailand Feb : 0.32 0.02 1.95 1.93 0.00 0.03 0.33 Mar : 0.32 0.02 1.90 1.88 0.00 0.03 0.33 Bangladesh Feb : 0.58 0.06 2.85 2.85 0.00 0.01 0.63 Mar : 0.58 0.06 2.75 2.75 0.00 0.01 0.63 ================================================================================ 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-468-28 World Soybean Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:=======================:Ending Region : : : : : :stocks :Beginning:Produc-: : Domestic : : : stocks : tion :Imports: Crush : Total :Exports: =============================================================================== : : 2006/07 World 2/ : 53.09 237.54 69.16 195.90 225.60 71.50 62.69 United States : 12.23 87.00 0.25 49.20 53.47 30.39 15.62 Total foreign : 40.86 150.54 68.92 146.70 172.13 41.12 47.07 Major exporters 3/ : 33.27 114.00 2.05 66.24 70.80 37.54 40.98 Argentina : 16.47 48.80 1.99 33.59 35.09 9.56 22.61 Brazil : 16.64 59.00 0.05 31.11 34.02 23.49 18.19 Major importers 4/ : 5.82 18.53 55.41 59.33 74.89 0.52 4.35 China : 4.57 15.97 28.73 35.97 46.12 0.45 2.70 EU-27 : 0.73 1.23 15.29 14.67 16.09 0.05 1.12 Japan : 0.26 0.23 4.09 2.93 4.31 0.00 0.27 Mexico : 0.04 0.08 3.84 3.90 3.93 0.00 0.04 : : 2007/08 (Estimated) World 2/ : 62.69 220.88 78.85 201.66 229.75 79.48 53.19 United States : 15.62 72.86 0.27 49.02 51.57 31.60 5.58 Total foreign : 47.07 148.02 78.58 152.64 178.19 47.88 47.61 Major exporters 3/ : 40.98 114.00 3.11 68.06 72.71 44.27 41.11 Argentina : 22.61 46.20 2.95 34.61 36.16 13.83 21.77 Brazil : 18.19 61.00 0.15 31.84 34.79 25.36 19.18 Major importers 4/ : 4.35 16.02 64.12 62.88 78.46 0.53 5.51 China : 2.70 14.00 37.82 39.52 49.82 0.45 4.25 EU-27 : 1.12 0.73 15.15 14.87 16.14 0.04 0.82 Japan : 0.27 0.23 4.01 2.89 4.22 0.00 0.29 Mexico : 0.04 0.08 3.65 3.70 3.74 0.00 0.03 : : 2008/09 (Projected) World 2/ : February : 53.21 224.15 73.99 196.22 226.62 74.85 49.87 March : 53.19 223.27 74.03 195.34 225.74 74.81 49.95 United States : February : 5.58 80.54 0.25 44.91 49.35 31.30 5.71 March : 5.58 80.54 0.25 44.63 49.08 32.25 5.03 Total foreign : February : 47.63 143.61 73.74 151.31 177.27 43.55 44.16 March : 47.61 142.74 73.79 150.70 176.65 42.56 44.92 Major exporters 3/ : February : 41.11 104.80 1.97 66.47 71.20 40.00 36.67 March : 41.11 104.00 1.97 66.47 71.20 39.00 36.87 Argentina Feb : 21.77 43.80 1.90 33.72 35.30 12.70 19.47 Mar : 21.77 43.00 1.90 33.72 35.30 11.70 19.67 Brazil Feb : 19.18 57.00 0.05 31.20 34.21 24.90 17.12 Mar : 19.18 57.00 0.05 31.20 34.21 24.90 17.12 Major importers 4/ : February : 5.51 18.92 60.54 62.33 78.09 0.52 6.36 March : 5.51 18.92 60.54 61.83 77.59 0.52 6.86 China Feb : 4.25 16.80 36.00 41.10 51.50 0.45 5.09 Mar : 4.25 16.80 36.00 40.60 51.00 0.45 5.59 EU-27 Feb : 0.82 0.75 13.55 13.05 14.28 0.03 0.81 Mar : 0.82 0.75 13.55 13.05 14.28 0.03 0.81 Japan Feb : 0.29 0.23 4.00 2.84 4.26 0.00 0.26 Mar : 0.29 0.23 4.00 2.84 4.26 0.00 0.26 Mexico Feb : 0.03 0.16 3.40 3.52 3.55 0.00 0.04 Mar : 0.03 0.16 3.40 3.52 3.55 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-468-29 World Soybean Meal Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2006/07 World 2/ : 6.10 154.16 52.49 152.19 54.28 6.28 United States : 0.29 39.06 0.14 31.18 7.99 0.31 Total foreign : 5.82 115.10 52.35 121.00 46.30 5.97 Major exporters 3/ : 3.60 55.45 0.17 13.56 41.80 3.86 Argentina : 1.67 26.06 0.00 0.59 25.63 1.52 Brazil : 1.47 24.11 0.17 11.12 12.72 1.91 India : 0.46 5.28 0.00 1.85 3.46 0.43 Major importers 4/ : 1.14 41.33 28.72 68.64 1.43 1.13 EU-27 : 0.87 11.55 22.21 33.23 0.55 0.86 China : 0.00 28.47 0.03 27.63 0.87 0.00 : : 2007/08 (Estimated) World 2/ : 6.28 158.32 54.75 157.47 55.70 6.18 United States : 0.31 38.32 0.13 30.08 8.42 0.27 Total foreign : 5.97 120.00 54.62 127.39 47.28 5.92 Major exporters 3/ : 3.86 58.13 0.18 14.57 43.73 3.86 Argentina : 1.52 27.07 0.00 0.62 26.80 1.17 Brazil : 1.91 24.67 0.17 12.03 12.14 2.59 India : 0.43 6.39 0.00 1.92 4.79 0.11 Major importers 4/ : 1.13 44.34 30.59 73.78 1.06 1.22 EU-27 : 0.86 11.72 24.07 35.17 0.41 1.07 China : 0.00 31.28 0.20 30.85 0.63 0.00 : : 2008/09 (Projected) World 2/ : February : 6.18 154.38 53.54 154.49 54.36 5.25 March : 6.18 153.76 53.54 153.99 54.24 5.25 United States : February : 0.27 35.37 0.15 27.90 7.62 0.27 March : 0.27 35.24 0.15 27.76 7.62 0.27 Total foreign : February : 5.92 119.01 53.39 126.60 46.74 4.97 March : 5.92 118.53 53.39 126.23 46.62 4.98 Major exporters 3/ : February : 3.86 57.45 0.16 14.85 43.34 3.29 March : 3.86 57.45 0.16 14.95 43.24 3.29 Argentina Feb : 1.17 26.37 0.00 0.65 25.89 1.01 Mar : 1.17 26.37 0.00 0.65 25.89 1.01 Brazil Feb : 2.59 24.18 0.16 12.36 12.40 2.16 Mar : 2.59 24.18 0.16 12.36 12.40 2.16 India Feb : 0.11 6.90 0.00 1.84 5.05 0.12 Mar : 0.11 6.90 0.00 1.94 4.95 0.12 Major importers 4/ : February : 1.22 44.09 29.25 72.81 0.94 0.80 March : 1.22 43.69 29.25 72.41 0.94 0.80 EU-27 Feb : 1.07 10.28 22.50 32.84 0.35 0.65 Mar : 1.07 10.28 22.50 32.84 0.35 0.65 China Feb : 0.00 32.53 0.23 32.18 0.58 0.00 Mar : 0.00 32.13 0.23 31.78 0.58 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-468-30 World Soybean Oil Supply and Use 1/ (Million Metric Tons) =============================================================================== : Supply : Use : :=========================:===================: Ending Region : : : : : : stocks :Beginning:Produc-: : Total : : : stocks : tion :Imports: Domestic: Exports : =============================================================================== : : 2006/07 World 2/ : 3.38 36.39 9.82 35.78 10.58 3.23 United States : 1.37 9.29 0.02 8.43 0.85 1.40 Total foreign : 2.01 27.09 9.80 27.35 9.73 1.83 Major exporters 3/ : 1.00 15.03 0.98 7.45 8.68 0.89 Argentina : 0.49 6.42 0.00 0.57 5.97 0.38 Brazil : 0.31 5.97 0.00 3.51 2.46 0.32 EU-27 : 0.19 2.64 0.98 3.37 0.24 0.20 Major importers 4/ : 0.43 7.60 3.84 11.30 0.10 0.46 China : 0.20 6.41 2.40 8.67 0.09 0.25 India : 0.23 1.18 1.40 2.60 0.01 0.21 Pakistan : 0.00 0.01 0.03 0.03 0.00 0.00 : : 2007/08 (Estimated) World 2/ : 3.23 37.51 10.39 37.47 10.83 2.83 United States : 1.40 9.33 0.03 8.31 1.32 1.13 Total foreign : 1.83 28.18 10.36 29.16 9.51 1.70 Major exporters 3/ : 0.89 15.40 1.10 8.16 8.49 0.75 Argentina : 0.38 6.63 0.00 0.98 5.77 0.25 Brazil : 0.32 6.11 0.07 3.80 2.39 0.30 EU-27 : 0.20 2.67 1.03 3.38 0.33 0.19 Major importers 4/ : 0.46 8.47 3.51 12.02 0.11 0.32 China : 0.25 7.05 2.73 9.69 0.10 0.23 India : 0.21 1.43 0.73 2.27 0.01 0.09 Pakistan : 0.00 0.00 0.05 0.05 0.00 0.01 : : 2008/09 (Projected) World 2/ : February : 2.82 36.46 8.93 36.52 9.29 2.41 March : 2.83 36.26 8.91 36.04 9.29 2.66 United States : February : 1.13 8.53 0.02 7.98 0.68 1.02 March : 1.13 8.46 0.02 7.67 0.68 1.26 Total foreign : February : 1.70 27.93 8.91 28.53 8.61 1.40 March : 1.70 27.80 8.88 28.38 8.61 1.40 Major exporters 3/ : February : 0.75 14.78 0.67 7.99 7.64 0.57 March : 0.75 14.78 0.67 7.99 7.64 0.57 Argentina Feb : 0.25 6.45 0.00 1.15 5.30 0.25 Mar : 0.25 6.45 0.00 1.15 5.30 0.25 Brazil Feb : 0.30 5.98 0.05 3.98 2.14 0.22 Mar : 0.30 5.98 0.05 3.98 2.14 0.22 EU-27 Feb : 0.19 2.35 0.62 2.86 0.20 0.10 Mar : 0.19 2.35 0.62 2.86 0.20 0.10 Major importers 4/ : February : 0.32 8.88 3.00 11.64 0.11 0.45 March : 0.32 8.78 2.97 11.51 0.11 0.45 China Feb : 0.23 7.34 2.37 9.48 0.10 0.36 Mar : 0.23 7.24 2.37 9.38 0.10 0.36 India Feb : 0.09 1.54 0.60 2.13 0.01 0.09 Mar : 0.09 1.54 0.57 2.10 0.01 0.09 Pakistan Feb : 0.01 0.00 0.03 0.04 0.00 0.00 Mar : 0.01 0.00 0.03 0.04 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-468-31 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 2007 : Annual : 26421 21943 48683 36158 5952 42608 91291 7587 185.7 : 2008 : I : 6372 6024 12476 9145 1536 10816 23292 1869 47.6 II : 6899 5593 12570 9439 1560 11147 23717 1858 48.8 III : 6908 5632 12618 9457 1568 11173 23791 1875 46.9 IV : 6382 6098 12561 8865 1582 10576 23137 1907 46.7 Annual : Feb Est : 26564 23348 50228 36864 6263 43687 93915 7514 189.7 Mar Est : 26561 23347 50225 36906 6246 43712 93937 7509 190.0 : 2009 : I* : 6275 5875 12229 8625 1460 10210 22439 1855 47.5 II* : 6710 5500 12287 9000 1475 10600 22887 1850 48.7 III* : 6900 5545 12519 9100 1500 10730 23249 1885 46.5 IV* : 6490 6090 12657 9050 1555 10730 23387 1930 45.8 Annual : Feb Proj : 26110 22980 49401 36175 6040 42740 92141 7530 189.1 Mar Proj : 26375 23010 49692 35775 5990 42270 91962 7520 188.5 =============================================================================== * Projection. 1/ Commercial production for red meats; federally inspected for poultry meats. 2/ Beef, pork, veal and lamb & mutton. 3/ Broilers, turkeys and mature chicken. U.S. Quarterly Prices for Animal Products 1/ =============================================================================== 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 2007 : Annual : 91.82 47.09 76.4 82.1 114.4 19.13 : 2008 : I : 89.59 39.64 78.1 77.4 158.8 19.23 II : 92.82 52.51 80.6 88.9 117.3 18.57 III : 98.45 57.27 80.6 96.5 114.5 18.67 IV : 88.22 41.92 79.4 87.3 122.6 16.80 Annual : Feb Est : 92.27 47.84 79.7 87.5 128.3 18.32 Mar Est : 92.27 47.84 79.7 87.5 128.3 18.32 : 2009 : I* : 81-82 41-42 81-82 75-76 114-117 11.80-12.00 II* : 84-88 48-50 82-86 82-86 107-113 10.45-10.95 III* : 84-92 49-53 82-88 88-96 106-114 10.60-11.40 IV* : 87-95 43-47 79-85 86-94 115-125 12.05-13.05 Annual : Feb Proj : 86-92 46-49 81-87 83-88 119-126 10.95-11.65 Mar Proj : 84-89 45-48 81-86 83-88 111-117 11.25-11.85 =============================================================================== *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-468-32 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 : 2007 : 630 26523 3052 30205 1434 630 28141 65.3 2008 Est. Feb : 630 26666 2497 29793 1880 627 27286 62.7 Mar : 630 26663 2537 29830 1888 642 27300 62.8 2009 Proj. Feb : 627 26212 2680 29519 1880 595 27044 61.6 Mar : 642 26477 2680 29799 1880 605 27314 62.2 : PORK : 2007 : 514 21962 968 23444 3141 536 19767 50.8 2008 Est. Feb : 536 23367 803 24706 4719 635 19352 49.3 Mar : 536 23367 831 24734 4668 641 19425 49.5 2009 Proj. Feb : 635 22999 810 24444 4000 640 19804 50.0 Mar : 641 23030 840 24511 4000 640 19871 50.2 : TOTAL RED MEAT 5/ : 2007 : 1166 48817 4223 54206 4585 1186 48436 117.7 2008 Est. Feb : 1186 50362 3482 55030 6610 1292 47128 113.4 Mar : 1186 50361 3553 55100 6568 1313 47219 113.7 2009 Proj. Feb : 1292 49535 3667 54494 5892 1260 47342 113.0 Mar : 1313 49827 3697 54837 5898 1270 47669 113.7 : BROILERS : 2007 : 732 35771 61 36564 5904 719 29941 85.2 2008 Est. Feb : 719 36470 77 37266 6831 743 29692 83.8 Mar : 719 36511 78 37308 6962 745 29601 83.5 2009 Proj. Feb : 743 35788 80 36611 6050 690 29871 83.5 Mar : 745 35392 80 36217 6050 690 29477 82.4 : TURKEYS : 2007 : 218 5874 10 6102 547 261 5295 17.5 2008 Est. Feb : 261 6181 10 6451 669 398 5384 17.7 Mar : 261 6164 9 6433 676 396 5361 17.6 2009 Proj. Feb : 398 5961 12 6371 605 285 5481 17.8 Mar : 396 5912 12 6320 605 300 5415 17.6 : TOTAL POULTRY 6/ : 2007 : 956 42143 75 43173 6618 982 35574 103.9 2008 Est. Feb : 982 43210 93 44285 7635 1145 35505 102.8 Mar : 982 43235 92 44308 7786 1144 35378 102.5 2009 Proj. Feb : 1145 42273 100 43518 6805 979 35734 102.6 Mar : 1144 41808 100 43052 6790 994 35268 101.2 : RED MEAT & POULTRY : 2007 : 2122 90960 4298 97380 11202 2168 84010 221.6 2008 Est. Feb : 2168 93572 3575 99315 14245 2437 82633 216.3 Mar : 2168 93596 3645 99409 14354 2457 82597 216.1 2009 Proj. Feb : 2437 91808 3767 98012 12697 2239 83076 215.6 Mar : 2457 91635 3797 97889 12688 2264 82937 215.0 =============================================================================== 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-468-33 U.S. Egg Supply and Use =============================================================================== : : : 2008 Estimated : 2009 Projected : : :-----------------:----------------- Commodity : 2006 : 2007 : Feb : Mar : Feb : Mar =============================================================================== EGGS : Million dozen Supply : Beginning stocks : 16.0 12.5 11.1 11.1 17.3 17.2 Production : 7614.0 7587.0 7514.0 7509.0 7530.0 7520.0 Imports : 8.6 13.6 15.4 14.6 14.0 14.0 Total supply : 7638.6 7613.1 7540.5 7534.7 7561.3 7551.2 : Use : Exports : 202.1 250.3 207.8 206.2 221.0 221.0 Hatching use : 992.2 1014.5 994.0 994.0 1006.0 985.0 Ending stocks : 12.5 11.1 17.3 17.2 15.0 16.0 Disappearance : Total : 6431.8 6337.2 6321.4 6317.3 6319.3 6329.2 Per capita (number) : 258.3 252.0 249.1 248.9 246.7 247.1 =============================================================================== U.S. Milk Supply and Use =============================================================================== : : : 2008 Estimated : 2009 Projected Commodity : : :-----------------:----------------- : 2006 : 2007 : Feb : Mar : Feb : Mar =============================================================================== : Billion pounds Milk : Production : 181.8 185.7 189.7 190.0 189.1 188.5 Farm use : 1.2 1.2 1.2 1.2 1.2 1.2 : Fat Basis Supply : Beg. commercial stocks : 8.0 9.5 10.4 10.4 10.0 10.0 Marketings : 180.6 184.5 188.5 188.8 188.0 187.3 Imports : 5.0 4.6 3.9 3.9 3.6 3.6 Total cml. supply : 193.6 198.6 202.8 203.1 201.5 200.9 : Fat Basis Use : Commercial Exports : 3.4 5.7 8.7 8.8 5.1 5.1 Ending commercial stks : 9.5 10.4 10.0 10.0 9.3 9.3 CCC net removals 1/ : 0.0 0.0 0.0 0.0 1.5 0.3 Commercial use 2/ : 180.7 182.6 184.0 184.3 185.6 186.2 : Skim-solids Basis Supply : Beg. commercial stocks : 9.0 9.1 9.9 9.9 10.9 11.0 Marketings : 180.6 184.5 188.5 188.8 188.0 187.3 Imports : 4.8 4.4 3.7 3.8 3.5 3.5 Total cml. supply : 194.3 198.0 202.1 202.5 202.4 201.8 : Skim-solids Basis Use : Commercial Exports : 23.6 24.5 26.0 26.6 19.0 19.0 Ending commercial stks : 9.1 9.9 10.9 11.0 10.4 10.6 CCC net removals 1/ : 0.7 0.0 1.3 1.3 6.9 4.8 Commercial use 2/ : 160.9 163.6 163.9 163.6 166.1 167.4 : : Million pounds CCC product net removals 1/: Butter : 0 0 0 0 55 10 Cheese : 0 0 0 0 20 0 Nonfat dry milk : 64 0 111 111 575 415 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/ Domestic commercial use only. WASDE-468-34 U.S. Dairy Prices =============================================================================== : : : 2008 Estimated : 2009 Projected : : :-----------------------:------------------- Commodity : 2006 : 2007 : Feb : Mar : Feb : Mar =============================================================================== : Dollars per pound : Product Prices 1/ : Cheese : 1.2470 1.7380 1.8954 1.8954 1.180- 1.215- : 1.250 1.275 : Butter : 1.2193 1.3441 1.4356 1.4356 1.080- 1.105- : 1.180 1.195 : Nonfat dry milk : 0.8928 1.7083 1.2256 1.2256 0.800- 0.805- : 0.860 0.855 : Dry whey : 0.3285 0.6004 0.2504 0.2504 0.160- 0.160- : 0.190 0.190 : : Dollars per cwt Milk Prices 2/ : Class III : 11.89 18.04 17.44 17.44 9.70- 10.05- : 10.40 10.65 : Class IV : 11.06 18.36 14.65 14.65 9.35- 9.50- : 10.15 10.20 : All milk 3/ : 12.88 19.13 18.32 18.32 10.95- 11.25- : 11.65 11.85 : =============================================================================== 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-468-35 Note: Tables on pages 35-37 present a 27-year record of the differences between the March projection and the final estimate. Using world wheat production as an example, changes between the March projection and the final estimate have averaged 2.6 million tons (0.5%) ranging from -8.0 to 6.9 million tons. The March projection has been below the estimate 19 times and above 8 times. Reliability of March Projections =============================================================================== :Differences between proj. & final estimate,1981/82-2007/08 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== WHEAT :Percent Million metric tons Number of years 2/ Production : World : 0.5 2.6 -8.0 6.9 19 8 U.S. : 0.1 0.0 -0.2 0.1 11 6 Foreign : 0.6 2.6 -8.0 6.9 19 8 Exports : World : 2.7 3.1 -9.0 3.5 22 5 U.S. : 2.5 0.8 -1.4 2.4 14 13 Foreign : 3.7 3.0 -7.7 2.5 20 7 Domestic use : World : 0.7 3.8 -9.4 8.1 11 16 U.S. : 3.1 0.9 -2.4 2.4 11 16 Foreign : 0.7 3.5 -7.9 7.6 15 12 Ending stocks : World : 3.5 4.6 -11.4 9.1 19 8 U.S. : 6.4 1.1 -4.4 2.5 15 12 Foreign : 3.7 3.9 -10.2 9.8 18 8 : COARSE GRAINS 3/ : Production : World : 0.9 8.2 -21.7 10.9 22 5 U.S. : 0.0 0.1 -0.2 1.3 11 6 Foreign : 1.3 8.3 -21.7 10.9 22 5 Exports : World : 3.3 3.4 -7.5 9.9 17 10 U.S. : 5.9 3.0 -6.9 9.1 11 16 Foreign : 5.6 3.0 -10.3 6.7 16 11 Domestic use : World : 0.8 7.0 -17.1 24.2 15 12 U.S. : 2.4 4.5 -17.3 11.5 12 15 Foreign : 0.9 5.8 -14.1 17.5 19 8 Ending stocks : World : 7.5 10.5 -28.2 13.9 22 5 U.S. : 9.2 4.9 -13.8 15.3 17 10 Foreign : 9.0 7.5 -27.0 10.5 23 4 : RICE, milled : Production : World : 1.1 3.9 -13.7 3.4 20 7 U.S. : 0.9 0.1 -0.2 0.2 10 4 Foreign : 1.1 3.9 -13.7 3.3 20 7 Exports : World : 6.3 1.2 -4.5 1.2 23 4 U.S. : 5.5 0.2 -0.5 0.3 14 10 Foreign : 7.2 1.2 -4.4 1.1 22 5 Domestic use : World : 0.8 2.9 -9.8 4.8 20 7 U.S. : 5.1 0.1 -0.3 0.4 10 16 Foreign : 0.8 2.9 -10.0 4.6 20 7 Ending stocks : World : 6.4 3.3 -14.9 4.0 18 9 U.S. : 17.0 0.2 -0.4 0.4 15 12 Foreign : 6.7 3.3 -14.5 3.9 18 9 =============================================================================== 1/ Footnotes at end of table. CONTINUED WASDE-468-36 Reliability of March Projections (Continued) =============================================================================== :Differences between proj. & final estimate,1981/82-2007/08 1/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== SOYBEANS :Percent Million metric tons Number of years 2/ Production : World : 2.8 6.1 -6.4 10.8 2 2 U.S. : 1.2 0.9 -2.5 0.6 1 2 Foreign : 4.3 5.9 -6.4 10.3 1 3 Exports : World : 3.6 2.6 -4.8 1.7 3 1 U.S. : 5.9 1.8 -3.7 -0.5 4 0 Foreign : 3.8 1.5 -1.3 2.9 3 1 Domestic use : World : 0.9 2.1 -1.2 6.1 2 2 U.S. : 3.2 1.6 -2.2 2.9 3 1 Foreign : 0.9 1.5 -0.8 3.2 1 3 Ending stocks : World : 13.8 6.6 -5.6 13.9 2 2 U.S. : 30.5 2.4 -1.8 4.2 1 3 Foreign : 12.3 4.9 -5.2 9.7 3 1 : COTTON : Million 480-pound bales Production : World : 1.3 1.2 -5.2 3.0 17 8 U.S. : 0.6 0.1 -0.2 0.3 11 15 Foreign : 1.6 1.2 -5.3 2.9 17 9 Exports : World : 3.1 0.9 -3.1 1.4 12 14 U.S. : 5.1 0.4 -1.2 1.0 10 16 Foreign : 3.9 0.7 -3.6 1.3 16 11 Mill use : World : 1.5 1.3 -6.0 1.3 14 13 U.S. : 2.9 0.2 -0.7 0.6 17 8 Foreign : 2.1 1.6 -5.5 10.0 15 12 Ending stocks : World : 6.7 2.5 -8.4 8.4 17 10 U.S. : 10.5 0.5 -1.2 1.6 10 17 Foreign : 7.5 2.5 -7.8 7.9 18 9 =============================================================================== 1/ Final estimate for 1981/82-2007/08 is defined as the first November estimate following the marketing year. 2/ May not total 27 if projection was the same as final estimate. 3/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain. WASDE-468-37 Reliability of United States March Projections 1/ =============================================================================== :Differences between proj. & final estimate,1981/82-2007/08 2/ Commodity and :============================================================= region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== CORN :Percent Million bushels Number of years 3/ Production : 0.0 2 -8 38 1 1 Exports : 6.1 107 -254 284 10 17 Domestic use : 2.4 157 -474 424 13 14 Ending stocks : 10.6 191 -552 713 18 9 : SORGHUM : Production : 0.0 0 0 4 0 2 Exports : 11.4 27 -90 72 16 10 Domestic use : 8.1 34 -178 100 11 16 Ending stocks : 28.8 29 -69 148 13 14 : BARLEY : Production : 0.3 1 -3 11 11 4 Exports : 12.2 7 -20 13 8 17 Domestic use : 4.6 17 -30 70 12 13 Ending stocks : 10.5 16 -53 24 17 10 : OATS : Production : 0.1 0 -2 1 4 3 Exports : 18.3 1 -1 3 5 4 Domestic use : 3.0 11 -26 36 13 14 Ending stocks : 10.5 12 -47 21 15 12 : : Thousand short tons SOYBEAN MEAL : Production : 2.4 790 -2328 1542 20 7 Exports : 7.3 509 -1750 941 22 5 Domestic use : 2.0 535 -1106 2066 19 8 Ending stocks : 28.5 70 -214 208 12 14 : : Million pounds SOYBEAN OIL : Production : 2.3 361 -1173 627 20 7 Exports : 14.1 235 -700 664 15 11 Domestic use : 1.6 221 -685 628 18 9 Ending stocks : 15.4 255 -692 366 16 11 ------------------------------------------------------------------------------- : ANIMAL PROD. 4/ : Million pounds Beef : 2.4 587 -10 1613 17 8 Pork : 2.3 392 -1265 1667 17 8 Broilers : 1.4 327 -675 496 16 9 Turkeys : 2.0 94 -177 178 13 12 : : Million dozen Eggs : 1.2 72 -120 169 16 9 : : Billion pounds Milk : 1.2 1.9 -4.9 5.2 15 10 =============================================================================== 1/ See pages 35 and 36 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-2007/08 is defined as the first November estimate following the marketing year. 3/ May not total 27 for crops and 25 for animal production if projection was the same as the final estimate. 4/ Calendar years 1983 thru 2007 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS. ----- End of File -----