USDA World Agricultural Supply and Demand Estimates (Text)

Following is the text of the World Agricultural Supply and Demand Estimates report for Dec. from the Department of Agriculture:

WHEAT: U.S. wheat ending stocks for 2010/11 are projected 10 million bushels higher this month reflecting lower domestic use. Projected food use is lowered 10 million bushels on the latest mill-grind data from the U.S. Census Bureau which indicate flour extraction rates that are higher than the long- term average for a third straight year. With historically high wheat prices, millers continue to get more flour out of each bushel of wheat. Total exports are unchanged, but small shifts among classes result in higher projected exports of Hard Red Spring and White wheat and lower projected exports of Hard Red Winter wheat and durum. The projected marketing-year average price received by producers is narrowed 5 cents on each end of the range to $5.30 to $5.70 per bushel.

Global 2010/11 wheat supplies are projected 4.9 million tons higher this month reflecting an increase in EU-27 beginnings stocks with lower 2009/10 feed use and higher 2010/11 production in Australia, Pakistan, Canada, Brazil, and Ukraine. Production for Australia is raised 1.5 million tons as higher reported yields in eastern Australia continue to boost production prospects. Recent, heavy rains in many of these same areas, however, have dampened production prospects and reduced wheat quality. Official government statistics for Pakistan and Canada boost production 1.3 million tons and 1.0 million tons, respectively. Brazil production is raised 0.4 million tons as favorably dry harvest weather in southern growing areas add to output. Ukraine production is raised 0.2 million tons on the latest government data. Partly offsetting these increases is a 0.5-million-ton reduction for Russia.

World wheat trade for 2010/11 is projected lower this month as tighter supplies of high quality wheat raise world prices and slow demand in several smaller markets. Wheat imports are also reduced 0.5 million tons each for Brazil and EU-27. Larger production reduces the need for imports in Brazil. In EU-27, lower expected wheat feeding reduces demand for imported wheat. World wheat exports are lowered 1.7 million tons with reductions for Australia, China, Canada, and Mexico. Export prospects for Australia and Canada are reduced reflecting the lower quality of wheat in both countries this year. Partly offsetting are increases for Iran, Serbia, and Croatia.

Global 2010/11 wheat consumption is raised with higher expected wheat feeding in China and higher expected feed and residual disappearance in Australia and Canada. Reduced government incentives to export wheat from China make more wheat available for domestic feeding. Larger supplies of lower quality wheat in Australia and Canada are expected to boost feeding and increase residual losses in both countries. Partly offsetting are 0.5-million-ton reductions in feed use for both EU-17 and Russia, and small declines in food use in several countries due to high prices. Ending stocks are raised 4.2 million tons with the largest increases for Pakistan, EU-27, Australia, and Canada.

COARSE GRAINS: U.S. feed grain supplies for 2010/11 are virtually unchanged as a small increase in corn imports is offset by a reduction in barley imports both reflecting feed grain production changes for Canada this month. U.S. corn imports are raised 5 million bushels with record production reported for Canada. U.S. corn ending stocks are raised accordingly. Barley imports are lowered 5 million bushels with lower production in Canada and the slow pace of imports to date. U.S. barley food, seed, and industrial use is lowered the same amount as domestic beer consumption remains weak slowing demand for malting barley. The projected marketing-year average price received by U.S. corn producers is unchanged this month at $4.80 to $5.60 per bushel. Farm prices for barley and oats are both projected slightly lower based on prices received by producers to date.

Global coarse grain production for 2010/11 is increased 3.4 million tons with corn production up 2.2 million tons, barley production up 0.6 million tons, and oats production up 0.4 million tons. India corn production is raised 1.0 million tons as the extended monsoon increased late-season soil moisture for the summer corn crop. The same conditions boosted harvested area for millet, adding 0.3 million tons to India production. Australia barley and oats production are raised 1.9 million tons and 0.5 million tons, respectively, both on higher reported yields. The latest official statistics from Canada indicated mostly offsetting production changes for coarse grains. Canada corn production is raised 0.7 million tons as favorable weather boosted corn yields in Ontario and Quebec. Canada barley production is lowered 0.6 million tons with lower area and yields in the western prairies. Corn production is raised 0.5 million tons for Ukraine and 0.4 million tons for EU-27. Small offsetting reductions are made this month for Paraguay corn, Ukraine barley and oats, and Russia barley and rye.

Global 2010/11 coarse grain trade is lowered slightly mostly reflecting reduced corn imports by Mexico as feeding there is projected lower. Corn exports are lowered 0.8 million tons for Serbia, but raised 0.5 million tons and 0.2 million tons, respectively, for India and Canada. Barley exports are lowered 0.4 million tons for Canada, but raised 0.3 million tons for Australia. Reduced corn feeding for Mexico and Serbia is mostly offset by increases for India, South Africa, and Canada. Global corn ending stocks are projected 0.8 million tons higher with larger stocks in EU-27 and Serbia partly offset by smaller stocks in South Africa and Mexico.

RICE: No changes are made to the U.S. 2010/11 all rice supply and use projections. Although, the all rice export projection is unchanged from a month ago, the combined medium- and short-grain export projection is raised 1.0 million cwt to 36.0 million, and the long-grain export projection is lowered the same amount to 83.0 million. The changes in the export projections are based on analysis of export data through September from the U.S. Census Bureau along with U.S. Export Sales report data through the end of November. Larger-than-expected export commitments of medium-grain milled rice to North Africa led to the increase in the combined medium- and short-grain export projection. Although export commitments of long-grain rice through November have been strong, the pace of additional sales will likely slow as U.S. prices have become less competitive with Thailand and Vietnam. Ending stocks for 2010/11 are projected at 49.8 million cwt, unchanged from last month, but up 13.1 million from 2009/10.

The 2010/11 long-grain season-average farm price range is projected at $10.50 to $11.50 per cwt, unchanged from last month. The combined medium- and short-grain farm price range is projected at $16.80 to $17.80 per cwt, down 50 cents per cwt on each end. The all rice season-average farm price is forecast at $12.00 to $13.00 per cwt, down 10 cents per cwt on both ends of the range. The price forecasts are based on the National Agricultural Statistics Service final monthly price estimates through October and price expectations for the remainder of the marketing year.

World 2010/11 rice supply and use projections are raised from a month ago. Global rice production is projected at a record 452.4 million tons, up nearly one million ton from a month ago, largely due to a substantial increase for China, which is partially offset by a decrease for India. Chinas rice crop is projected at 139.3 million tons, second only to the 1997/98 crop at 140.4 million, and is up 3.3 million from a month ago. The increase is based on information released by the government of China that resulted in both a slight increase in harvested area and an increase in average yield to a record level. Favorable single and late rice crops more than offset a weather-reduced early season harvest. Indias 2010/11 rice crop is lowered 2.0 million tons to 95.0 million, based in part on information released by the government of India. Although most of India experienced a normal to above normal monsoon season, unfavorably dry weather in eastern and northeastern regions, and excessively wet weather in the south lowered yield prospects. Slight increases are made to both global consumption and trade. Global ending stocks for 2010/11 are projected at 94.8 million tons, up 0.5 million from last month, but 0.6 million below 2009/10. Larger stocks for China more than offset lower stocks in India.

OILSEEDS: Total U.S. oilseed production for 2010/11 is projected at 101.7 million tons, down slightly due to a small reduction in cottonseed. Soybean exports are increased 20 million bushels to 1.59 billion reflecting record export commitments (shipments plus outstanding sales) through November. With projected crush unchanged, soybean ending stocks for 2010/11 are projected at 165 million bushels, down 20 million from last month.

The U.S. season-average soybean price range for 2010/11 is projected at $10.70 to $12.20 per bushel, unchanged from last month. The soybean meal price projection is also unchanged at $310 to $350 per short ton. Soybean oil prices are projected at 45 to 49 cents per pound, up 2.5 cents on both ends of the range.

Global oilseed production for 2010/11 is projected at 442.6 million tons, up 1.9 million tons from last month. Foreign oilseed production accounts for most of the change with increases for soybeans, rapeseed, sunflowerseed, and cottonseed. Global soybean production is projected at a 257.8 million tons, up 0.4 million mainly due to an increase for Canada. Global rapeseed production is projected at 58.4 million tons, up 1.2 million due to gains for Canada and EU- 27. Canadian rapeseed production is raised 0.9 million tons to 11.9 million based on the latest survey results from Statistics Canada. Higher-than-expected yields account for the change. EU-27 rapeseed production is increased due to higher yield estimates for Germany, United Kingdom, and Romania. Other changes this month include increased sunflowerseed production for EU-27, increased cottonseed production for Brazil and Australia, and reduced cottonseed production for Pakistan.

Global oilseed trade is projected at 112.2 million tons, up 0.9 million from last month. Increased soybean exports from the United States and Canada account for most of the change. Global oilseed ending stocks are projected at 70.3 million tons, down 1 million, as lower soybean stocks in Brazil and the United States are only partly offset by higher rapeseed stocks in Canada.

SUGAR: Projected U.S. sugar supply for fiscal year 2010/11 is increased 232,000 short tons, raw value, from last month, mostly due to an increase of 220,000 tons of imports from Mexico. Cane sugar production in Florida is reduced 20,000 tons on lower projected sugar recovery from sugarcane. High-tier tariff imports are increased 30,000 tons, reflecting the trend in volumes to date. Beginning stocks are increased 2,000 tons due to revised ending stocks reported for 2008/09. Total use is unchanged.

For Mexico, projected 2010/11 sugar production is increased 200,000 metric tons, raw value, based on higher sugar recovery from sugarcane. The increase in supply accounts for higher exports to the United States.

LIVESTOCK, POULTRY, AND DAIRY: The forecast of total U.S. meat production is raised for 2010 and 2011. Forecasts for 2010 beef, pork, broilers and turkeys are raised reflecting high slaughter levels during the fourth quarter and higher weights for hogs and broilers. For 2011, production forecasts for beef, pork, and broilers are increased. The beef production increase largely reflects higher forecast placements of cattle during the fourth quarter of 2010 and early 2011. Pork production is raised from last month on slightly higher slaughter. Broiler production is forecast higher as hatchery data indicate continued large egg sets and poultry placements during the fourth quarter of 2010. The turkey production forecast for 2011 is unchanged from last month. The egg production forecast is lowered slightly in 2010 but is unchanged for 2011.

Trade forecasts for 2010 are adjusted, largely reflecting third quarter data. However, beef imports are lowered for both late 2010 and early 2011 as exportable supplies of beef for several U.S suppliers are expected to be relatively tight. Beef exports are raised for 2011 as improved economic growth in major export markets is expected to stimulate sales. Pork exports for 2010 are reduced as relatively high pork prices are likely constraining growth in exports. Forecasts for pork exports for 2011 are unchanged. Poultry forecasts for 2011 are unchanged.

The cattle price forecasts for 2010 and 2011 are raised to reflect continued strong demand for cattle. Hog prices for 2010 and 2011 are forecast lower than last month as pork supplies are large. The broiler price forecast is lowered on larger supplies. Egg prices for 2010 and 2011 are forecast higher.

Forecast milk production for 2010 and 2011 is little changed last month. Fat-basis imports for 2010 are lowered primarily due to lower imports of cheese but skim-solids imports are unchanged due to higher imports of expected imports of other products. Fat basis exports for 2010 are raised as sales of cheese and fluid milk and cream are strong and skim-solids exports are boosted by strong sales of cheese and nonfat dry milk (NDM). Exports for 2011 are forecast higher due to expected growth in butter and nonfat dry milk sales. Ending stocks for 2010 are raised to reflect higher-than expected stocks of cheese.

For 2010, cheese and whey prices are unchanged from last month. NDM prices are forecast higher but the butter price forecast is reduced reflecting recent sharp declines in butter prices. With no change in either the cheese or whey price, the Class III price forecast is unchanged. However, the Class IV price forecast is reduced, due to a lower butter price forecast which more than offsets a higher expected NDM price. For 2011, the range of the cheese price forecast narrowed but whey is forecast higher. The butter price is reduced as current price weakness spills into early 2011. NDM prices are forecast higher. The ranges of the Class III and Class IV price forecasts are narrowed from last month. The all milk price is forecast to average $16.25 to $16.35 per cwt for 2010 and $15.90 to $16.70 per cwt for 2011.

COTTON: This month U.S. 2010/11 cotton estimates include slightly lower production and higher domestic mill use, resulting in a decrease of 200,000 bales in ending stocks compared with last month. Production is reduced 150,000 bales, as lower production in Texas is partially offset by an increase in the Southeast. Domestic mill use is raised 100,000 bales, based on stronger-than-expected consumption in recent months. The export estimate is unchanged. Ending stocks are now forecast at 1.9 million bales, or 10 percent of total use. The forecast average price received by producers of 76 to 86 cents per pound is raised 2 cents on the lower end of the range.

The 2010/11 world cotton estimates include revisions which raise production and reduce consumption, resulting in an increase in ending stocks from last months estimate. Production is raised nearly 300,000 bales, as increases for Australia and Brazil more than offset decreases for Pakistan, Uzbekistan, Greece, and the United States. World consumption is reduced based on a lower estimates for Pakistan and India, partially offset by an increase for the United States. World trade is down slightly, despite higher world production, as most of the larger southern hemisphere production will be shipped in 2011/12. World stocks are now forecast at 43.4 million bales, marginally below the beginning level.

WASDE-489-8 December 2010

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/ :

2008/09 : 2,240.82 2,609.95 285.66 2,158.52 451.42

2009/10 (Est.) : 2,231.23 2,682.65 284.60 2,192.43 490.23

2010/11 (Proj.) :

November : 2,179.53 2,669.33 276.05 2,242.33 427.00

December : 2,187.50 2,677.73 274.17 2,244.37 433.36 Wheat :

2008/09 : 683.27 807.94 143.66 641.75 166.19

2009/10 (Est.) : 682.11 848.29 135.60 651.62 196.68

2010/11 (Proj.) :

November : 642.89 838.30 127.23 665.79 172.51

December : 646.51 843.19 125.58 666.47 176.72 Coarse grains 4/ :

2008/09 : 1,109.40 1,273.24 113.06 1,079.69 193.55

2009/10 (Est.) : 1,107.90 1,301.45 119.09 1,103.22 198.23

2010/11 (Proj.) :

November : 1,085.20 1,284.22 118.35 1,123.99 160.23

December : 1,088.58 1,286.81 118.10 1,124.93 161.88 Rice, milled :

2008/09 : 448.15 528.77 28.94 437.09 91.68

2009/10 (Est.) : 441.23 532.91 29.91 437.60 95.32

2010/11 (Proj.) :

November : 451.44 546.81 30.47 452.55 94.27

December : 452.41 547.73 30.49 452.97 94.76

:

: United States Total grains 3/ :

2008/09 : 400.28 461.70 81.58 314.24 65.89

2009/10 (Est.) : 416.50 488.54 82.28 330.42 75.83

2010/11 (Proj.) :

November : 399.89 481.41 91.53 340.70 49.19

December : 399.89 481.43 91.53 340.32 49.58 Wheat :

2008/09 : 68.02 79.80 27.64 34.29 17.87

2009/10 (Est.) : 60.37 81.46 23.98 30.93 26.55

2010/11 (Proj.) :

November : 60.10 89.65 34.02 32.55 23.08

December : 60.10 89.65 34.02 32.28 23.35 Coarse grains 4/ :

2008/09 : 325.87 373.98 50.94 275.98 47.06

2009/10 (Est.) : 349.22 398.59 54.84 295.63 48.13

2010/11 (Proj.) :

November : 332.39 382.59 53.86 304.15 24.58

December : 332.39 382.61 53.86 304.04 24.71 Rice, milled :

2008/09 : 6.40 7.93 3.00 3.96 0.96

2009/10 (Est.) : 6.92 8.48 3.47 3.86 1.15

2010/11 (Proj.) :

November : 7.40 9.17 3.64 4.00 1.53

December : 7.40 9.17 3.64 4.00 1.53 =============================================================================== 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-489-9 December 2010

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/ :

2008/09 : 1,840.54 2,148.24 204.08 1,844.29 385.53

2009/10 (Est.) : 1,814.73 2,194.12 202.32 1,862.01 414.39

2010/11 (Proj.) :

November : 1,779.64 2,187.92 184.53 1,901.63 377.81

December : 1,787.61 2,196.30 182.64 1,904.05 383.78 Wheat :

2008/09 : 615.25 728.14 116.03 607.46 148.32

2009/10 (Est.) : 621.74 766.83 111.62 620.68 170.13

2010/11 (Proj.) :

November : 582.79 748.65 93.21 633.24 149.43

December : 586.41 753.54 91.56 634.19 153.37 Coarse grains 5/ :

2008/09 : 783.54 899.26 62.12 803.71 146.49

2009/10 (Est.) : 758.68 902.86 64.25 807.59 150.10

2010/11 (Proj.) :

November : 752.81 901.63 64.49 819.84 135.65

December : 756.19 904.20 64.24 820.89 137.17 Rice, milled :

2008/09 : 441.75 520.84 25.93 433.12 90.72

2009/10 (Est.) : 434.31 524.43 26.44 433.73 94.16

2010/11 (Proj.) :

November : 444.04 537.64 26.83 448.55 92.74

December : 445.02 538.56 26.84 448.97 93.24 =============================================================================== 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

2008/09 : 107.10 167.83 30.07 109.95 60.52

2009/10 (Est.) : 101.54 162.06 35.60 118.38 44.00

2010/11 (Proj.) :

November : 115.25 158.90 38.85 116.82 42.20

December : 115.53 159.52 38.67 116.25 43.39

: United States

2008/09 : 12.82 22.87 13.26 3.59 6.34

2009/10 (Est.) : 12.19 18.52 12.04 3.46 2.95

2010/11 (Proj.) :

November : 18.42 21.37 15.75 3.45 2.20

December : 18.27 21.22 15.75 3.55 1.90

: Foreign 3/

2008/09 : 94.29 144.96 16.80 106.36 54.18

2009/10 (Est.) : 89.35 143.54 23.56 114.92 41.05

2010/11 (Proj.) :

November : 96.83 137.53 23.10 113.37 40.00

December : 97.26 138.30 22.93 112.70 41.49 =============================================================================== 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-489-10 December 2010

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 :

2008/09 : 396.31 457.94 94.13 338.36 56.42

2009/10 (Est.) : 441.11 497.53 108.23 356.94 72.19

2010/11 (Proj.) :

November : 440.72 512.88 111.35 374.14 71.32

December : 442.63 514.82 112.23 376.79 70.28 Oilmeals :

2008/09 : 228.68 236.34 69.18 227.84 6.11

2009/10 (Est.) : 243.45 249.56 71.74 240.29 7.00

2010/11 (Proj.) :

November : 256.79 263.88 75.59 253.79 7.28

December : 258.53 265.53 76.84 254.89 7.35 Vegetable Oils :

2008/09 : 133.60 145.30 55.83 130.18 13.52

2009/10 (Est.) : 138.65 152.17 57.43 137.64 12.48

2010/11 (Proj.) :

November : 145.07 156.75 59.85 144.61 9.94

December : 145.91 158.39 60.07 146.01 10.10

:

: United States Oilseeds :

2008/09 : 89.20 97.41 35.69 49.34 5.62

2009/10 (Est.) : 98.90 105.59 41.77 51.45 5.54

2010/11 (Proj.) :

November : 101.77 108.18 43.93 49.73 6.54

December : 101.70 108.11 44.47 49.73 5.93 Oilmeals :

2008/09 : 37.72 39.86 7.95 31.67 0.25

2009/10 (Est.) : 40.05 41.63 10.32 30.97 0.34

2010/11 (Proj.) :

November : 38.37 40.52 8.51 31.68 0.33

December : 38.35 40.61 8.60 31.67 0.33 Vegetable Oils :

2008/09 : 9.67 14.36 1.46 11.17 1.74

2009/10 (Est.) : 10.05 15.12 1.95 11.22 1.96

2010/11 (Proj.) :

November : 9.86 15.19 1.58 12.02 1.59

December : 9.85 15.18 1.57 12.02 1.59

:

: Foreign 3/ Oilseeds :

2008/09 : 307.11 360.54 58.44 289.02 50.80

2009/10 (Est.) : 342.21 391.95 66.46 305.49 66.65

2010/11 (Proj.) :

November : 338.95 404.70 67.42 324.41 64.78

December : 340.93 406.70 67.75 327.06 64.35 Oilmeals :

2008/09 : 190.96 196.48 61.23 196.17 5.86

2009/10 (Est.) : 203.41 207.93 61.43 209.32 6.66

2010/11 (Proj.) :

November : 218.42 223.35 67.07 222.12 6.95

December : 220.18 224.92 68.24 223.22 7.02 Vegetable Oils :

2008/09 : 123.93 130.94 54.37 119.01 11.78

2009/10 (Est.) : 128.60 137.04 55.49 126.42 10.53

2010/11 (Proj.) :

November : 135.21 141.55 58.27 132.59 8.35

December : 136.06 143.21 58.49 133.99 8.51 =============================================================================== 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-489-11 December 2010

U.S. Wheat Supply and Use 1/ ===============================================================================

: : : 2010/11 Projections

Item : 2008/09 : 2009/10 :==============================

: : Est. : November December =============================================================================== Area : Million acres Planted : 63.2 59.2 53.6 53.6 Harvested : 55.7 49.9 47.6 47.6 Yield per harvested : Bushels

acre : 44.9 44.5 46.4 46.4

: Million bushels Beginning stocks : 306 657 976 976 Production : 2,499 2,218 2,208 2,208 Imports : 127 119 110 110 Supply, total : 2,932 2,993 3,294 3,294 Food : 927 917 940 930 Seed : 78 69 76 76 Feed and residual : 255 150 180 180 Domestic, total : 1,260 1,137 1,196 1,186 Exports : 1,015 881 1,250 1,250 Use, total : 2,275 2,018 2,446 2,436 Ending stocks : 657 976 848 858 CCC inventory : 0 0 0 0 Free stocks : 657 976 848 858

Outstanding loans : 27 51 15 15 Avg. farm price ($/bu) 2/ : 6.78 4.87 5.25- 5.75 5.30- 5.70 ===============================================================================

U.S. Wheat by Class: Supply and Use ===============================================================================

Year beginning : Hard : Hard : Soft : : :

June 1 : Winter : Spring : Red : White : Durum : Total =============================================================================== 2009/10 (estimated) : Million bushels Beginning stocks : 254 142 171 64 25 657 Production : 920 548 404 237 109 2,218 Supply, total 3/ : 1,176 731 607 311 169 2,993 Domestic use : 421 282 256 87 90 1,137 Exports : 370 214 109 143 44 881 Use, total : 791 497 365 231 134 2,018 Ending stocks, total : 385 234 242 80 35 976

: 2010/11 (projected) : Beginning stocks : 385 234 242 80 35 976 Production : 1,018 570 238 275 107 2,208 Supply, total 3/ : 1,404 839 505 364 182 3,294 Domestic use : 486 268 237 106 89 1,186 Exports : 580 370 80 175 45 1,250 Use, total : 1,066 638 317 281 134 2,436 Ending stocks, total :

December : 338 201 188 83 48 858

November : 323 211 183 88 43 848 =============================================================================== 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-489-12 December 2010

U.S. Feed Grain and Corn Supply and Use 1/ ===============================================================================

: : : 2010/11 Projections

Item : 2008/09 : 2009/10 :==============================

: : Est. : November December =============================================================================== FEED GRAINS : Area : Million acres Planted : 101.8 100.1 99.6 99.6 Harvested : 91.0 89.6 89.6 89.6 Yield per harvested : Metric tons

acre : 3.58 3.90 3.71 3.71

: Million metric tons Beginning stocks : 45.1 47.0 48.1 48.1 Production : 325.7 349.0 332.2 332.2 Imports : 3.0 2.2 2.0 2.0 Supply, total : 373.7 398.3 382.3 382.3 Feed and residual : 140.9 137.6 139.9 139.9 Food, seed & industrial : 134.8 157.8 164.0 163.9 Domestic, total : 275.7 295.4 303.8 303.7 Exports : 50.9 54.8 53.9 53.9 Use, total : 326.6 350.2 357.7 357.6 Ending stocks, total : 47.0 48.1 24.6 24.7 CCC inventory : 0.0 0.0 0.0 0.0 Free stocks : 47.0 48.1 24.6 24.7

Outstanding loans : 4.4 3.9 3.9 3.9

: CORN : Area : Million acres Planted : 86.0 86.5 88.2 88.2 Harvested : 78.6 79.6 81.3 81.3 Yield per harvested : Bushels

acre : 153.9 164.7 154.3 154.3

: Million bushels Beginning stocks : 1,624 1,673 1,708 1,708 Production : 12,092 13,110 12,540 12,540 Imports : 14 8 10 15 Supply, total : 13,729 14,792 14,257 14,262 Feed and residual : 5,182 5,159 5,300 5,300 Food, seed & industrial : 5,025 5,938 6,180 6,180 Ethanol for fuel 2/ : 3,709 4,568 4,800 4,800 Domestic, total : 10,207 11,098 11,480 11,480 Exports : 1,849 1,987 1,950 1,950 Use, total : 12,056 13,084 13,430 13,430 Ending stocks, total : 1,673 1,708 827 832 CCC inventory : 0 0 0 0 Free stocks : 1,673 1,708 827 832

Outstanding loans : 171 147 150 150 Avg. farm price ($/bu) 3/ : 4.06 3.55 4.80- 5.60 4.80- 5.60 =============================================================================== 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-489-13 December 2010

U.S. Sorghum, Barley and Oats Supply and Use 1/ ===============================================================================

: : : 2010/11 Projections

Item : 2008/09 : 2009/10 :==============================

: : Est. : November December ===============================================================================

: Million bushels SORGHUM : Area planted (mil. acres) : 8.3 6.6 5.4 5.4 Area harv. (mil. acres) : 7.3 5.5 4.7 4.7 Yield (bushels/acre) : 65.0 69.4 72.5 72.5 Beginning stocks : 53 55 41 41 Production : 472 383 338 338 Imports : 0 0 0 0

Supply, total : 525 438 379 379 Feed and residual : 233 140 90 90 Food, seed & industrial : 95 90 90 90

Total domestic : 328 230 180 180 Exports : 143 166 160 160

Use, total : 471 396 340 340 Ending stocks, total : 55 41 39 39 Avg. farm price ($/bu) 2/ : 3.20 3.22 4.90- 5.70 4.90- 5.70

: BARLEY : Area planted (mil. acres) : 4.2 3.6 2.9 2.9 Area harv. (mil. acres) : 3.8 3.1 2.5 2.5 Yield (bushels/acre) : 63.6 73.0 73.1 73.1 Beginning stocks : 68 89 115 115 Production : 240 227 180 180 Imports : 29 17 15 10

Supply, total : 337 333 311 306 Feed and residual : 67 48 50 50 Food, seed & industrial : 169 164 165 160

Total domestic : 236 212 215 210 Exports : 13 6 10 10

Use, total : 249 217 225 220 Ending stocks, total : 89 115 86 86 Avg. farm price ($/bu) 2/ : 5.37 4.66 3.75- 4.25 3.70- 4.10

: OATS : Area planted (mil. acres) : 3.2 3.4 3.1 3.1 Area harv. (mil. acres) : 1.4 1.4 1.3 1.3 Yield (bushels/acre) : 63.7 67.5 64.3 64.3 Beginning stocks : 67 84 80 80 Production : 89 93 81 81 Imports : 115 95 80 80

Supply, total : 270 272 242 242 Feed and residual : 108 115 115 115 Food, seed & industrial : 75 75 76 76

Total domestic : 183 190 191 191 Exports : 3 2 3 3

Use, total : 186 192 194 194 Ending stocks, total : 84 80 48 48 Avg. farm price ($/bu) 2/ : 3.15 2.02 2.15- 2.55 2.15- 2.35 =============================================================================== 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-489-14 December 2010

U.S. Rice Supply and Use 1/

(Rough Equivalent of Rough and Milled Rice) ===============================================================================

: : : 2010/11 Projections

Item : 2008/09 : 2009/10 :==============================

: : Est. : November December =============================================================================== TOTAL : Area : Million acres Planted : 3.00 3.14 3.64 3.64 Harvested : 2.98 3.10 3.62 3.62 Yield per harvested : Pounds

acre : 6,846 7,085 6,669 6,669

:

: Million hundredweight Beginning stocks 2/ : 29.6 30.6 36.7 36.7 Production : 203.7 219.9 241.6 241.6 Imports : 19.2 19.0 19.5 19.5

Supply, total : 252.6 269.4 297.8 297.8 Domestic & residual 3/ : 126.4 122.6 129.0 129.0 Exports, total 4/ : 95.6 110.2 119.0 119.0 Rough : 31.6 40.8 45.0 45.0 Milled (rough equiv.) : 64.0 69.4 74.0 74.0

Use, total : 222.0 232.7 248.0 248.0 Ending stocks : 30.6 36.7 49.8 49.8 Avg. milling yield (%) 5/ : 69.25 69.36 67.50 67.50 Avg. farm price ($/cwt) 6/ : 16.80 14.00 12.10-13.10 12.00-13.00

: LONG GRAIN : Harvested acres (mil.) : 2.35 2.27 Yield (pounds/acre) : 6,522 6,743 Beginning stocks : 19.1 20.1 23.2 23.2 Production : 153.3 152.7 181.5 181.5

Supply, total 7/ : 188.2 189.3 221.6 221.6 Domestic & Residual 3/ : 99.4 90.8 99.0 99.0 Exports 8/ : 68.8 75.4 84.0 83.0

Use, total : 168.1 166.2 183.0 182.0 Ending stocks : 20.1 23.2 38.6 39.6 Avg. farm price ($/cwt) 6/ : 14.90 12.80 10.50-11.50 10.50-11.50

: MEDIUM & SHORT GRAIN : Harvested acres (mil.) : 0.63 0.84 Yield (pounds/acre) : 8,063 8,010 Beginning stocks : 9.1 8.0 12.1 12.1 Production : 50.5 67.1 60.1 60.1

Supply, total 7/ : 61.9 78.7 74.7 74.7 Domestic & Residual 3/ : 27.0 31.8 30.0 30.0 Exports 8/ : 26.9 34.8 35.0 36.0

Use, total : 53.9 66.6 65.0 66.0 Ending stocks : 8.0 12.1 9.7 8.7 Avg. farm price ($/cwt) 6/ : 24.80 17.70 17.30-18.30 16.80-17.80 =============================================================================== 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): 2008/09-1.4; 2009/10-2.4; 2010/11-1.5. 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-- the national average milling yield calculated by the Farm Service Agency (FSA) from warehouse stored loan data. 6/ Includes imports. 7/ Marketing-year weighted average price received by farmers. 8/ Exports by type of rice are estimated.

WASDE-489-15 December 2010

U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ ===============================================================================

: : : 2010/11 Projections

Item : 2008/09 : 2009/10 :===============================

: : Est. : November December =============================================================================== SOYBEANS: : Million acres Area : Planted : 75.7 77.5 77.7 77.7 Harvested : 74.7 76.4 76.8 76.8

:

: Bushels Yield per harvested :

acre : 39.7 44.0 43.9 43.9

:

: Million bushels

: Beginning stocks : 205 138 151 151 Production : 2,967 3,359 3,375 3,375 Imports : 13 15 10 10 Supply, total : 3,185 3,512 3,536 3,536 Crushings : 1,662 1,752 1,665 1,665 Exports : 1,279 1,501 1,570 1,590 Seed : 90 90 88 88 Residual : 16 18 29 29 Use, total : 3,047 3,361 3,351 3,371 Ending stocks : 138 151 185 165 Avg. farm price ($/bu) 2/ : 9.97 9.59 10.70-12.20 10.70 -12.20

:

:

: Million pounds SOYBEAN OIL: : Beginning stocks : 2,485 2,861 3,358 3,358 Production : 18,745 19,614 18,980 18,980 Imports : 90 103 115 115 Supply, total : 21,319 22,577 22,453 22,453 Domestic : 16,265 15,863 17,100 17,100 For methyl ester : 2,013 1,681 2,900 2,900 Exports : 2,193 3,357 2,700 2,700 Use, total : 18,459 19,219 19,800 19,800 Ending stocks : 2,861 3,358 2,653 2,653 Average price (c/lb) 2/ : 32.16 35.95 42.50- 45.00-

: 46.50 49.00

:

: Thousand short tons SOYBEAN MEAL: : Beginning stocks : 294 235 303 302 Production : 39,102 41,700 39,532 39,533 Imports : 88 160 165 165 Supply, total : 39,484 42,095 40,000 40,000 Domestic : 30,752 30,619 30,600 30,500 Exports : 8,497 11,175 9,100 9,200 Use, total : 39,249 41,794 39,700 39,700 Ending stocks : 235 302 300 300 Average price ($/s.t.) 2/ : 331.17 311.27 310.00- 310.00-

: 350.00 350.00 =============================================================================== 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-489-16 December 2010

U.S. Sugar Supply and Use 1/ ======================================================================

: : : 2010/11 Projection

Item : 2008/09 : 2009/10 :======================

: : Est. : November December ======================================================================

: 1,000 short tons, raw value

: Beginning stocks : 1,664 1,534 1,501 1,503 Production 2/ : 7,532 7,967 8,230 8,210 Beet sugar : 4,214 4,575 4,800 4,800 Cane sugar : 3,318 3,392 3,430 3,410

Florida : 1,577 1,638 1,720 1,700

Hawaii : 192 161 170 170

Louisiana : 1,397 1,481 1,400 1,400

Texas : 152 112 140 140 Imports : 3,082 3,318 2,744 2,994 TRQ 3/ : 1,370 1,854 1,409 1,409 Other program 4/ : 308 450 300 300 Other 5/ : 1,404 1,014 1,035 1,285

Mexico : 1,402 807 1,025 1,245

Total supply : 12,278 12,819 12,475 12,707

: Exports : 136 211 150 150 Deliveries : 10,608 11,105 11,060 11,060 Food 6/ : 10,442 10,869 10,875 10,875 Other 7/ : 166 236 185 185 Miscellaneous : 0 0 0 0

Total use : 10,744 11,316 11,210 11,210 Ending stocks : 1,534 1,503 1,265 1,497

: Stocks to use ratio : 14.3 13.3 11.3 13.4 ====================================================================== 1/ Fiscal years beginning Oct 1. Includes Puerto Rico. Historical data are from FSA, "Sweetener Market Data" except imports (U.S. Customs Service, Census Bureau). 2/ Production projections for 2010/11 are based on Crop Production, trend recovery rates, and processor projections where appropriate. 3/ For 2010/11, includes shortfall of 60,000 tons. 4/ Includes sugar under the re-export and polyhydric alcohol programs. 5/ For 2008/09, other high-tier (0) and other (0). For 2009/10, other high-tier (207) and other (0).

For 2010/11, other high-tier (40) and other (0). 6/Combines SMD deliveries for domestic human food use, SMD miscellaneous uses, and the difference between SMD imports and WASDE imports. 7/ Transfers to sugar-containing products for reexport, and for nonedible alcohol and feed.

Mexico Sugar Supply and Use and High Fructose Corn Syrup Imports 1/ ==========================================================================

: Supply : Use :

Fiscal :====================================================: Ending

year : Beginning : Production: Imports : Domestic :Exports: stocks

: stocks : : : 2/ : : ==========================================================================

1,000 metric tons, raw value Sugar 2009/10 est.

Nov 624 5,115 861 4,890 737 973

Dec 624 5,115 861 4,890 737 973 2010/11 proj.

Nov 973 5,450 225 4,735 938 975

Dec 973 5,650 225 4,735 1,138 975 ========================================================================== 1/ U.S. HFCS exports to Mexico (metric tons, dry-weight basis): Oct-Sep 2007/08 = 427,705; Oct-Sep 2008/09 = 302,844; Oct-Sep 2009/10 = 927,203. Footnote source: U.S. Census Bureau. 2/Includes domestic consumption, Mexico's products export program (IMMEX), and any residual statistical discrepancies.

WASDE-489-17 December 2010

U. S. Cotton Supply and Use 1/ ===============================================================================

: : : 2010/11 Projections

Item : 2008/09 : 2009/10 :===============================

: : Est. : November December ===============================================================================

: Million acres Area : Planted : 9.47 9.15 11.04 11.04 Harvested : 7.57 7.53 10.77 10.77

:

: Pounds Yield per harvested :

acre : 813 777 821 814

:

: Million 480 pound bales

: Beginning stocks 2/ : 10.05 6.34 2.95 2.95 Production : 12.82 12.19 18.42 18.27 Imports : 0.00 0.00 0.00 0.01 Supply, total : 22.87 18.53 21.37 21.22 Domestic use : 3.59 3.46 3.45 3.55 Exports : 13.26 12.04 15.75 15.75 Use, total : 16.85 15.50 19.20 19.30 Unaccounted 3/ : -0.32 0.08 -0.03 0.02 Ending stocks : 6.34 2.95 2.20 1.90

: Avg. farm price 4/ : 47.8 62.9 74.0-86.0 76.0-86.0 =============================================================================== 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-489-18 December 2010

World Wheat Supply and Use 1/

(Million Metric Tons) ===============================================================================

: Supply : Use :

:=========================:=======================:Ending

Region : : : : Domestic 2/ : :stocks

:Beginning:Produc-: :===============: :

: stocks : tion :Imports: Feed : Total :Exports: ===============================================================================

:

: 2008/09

: World 3/ : 124.67 683.27 136.93 117.94 641.75 143.66 166.19 United States : 8.32 68.02 3.46 6.95 34.29 27.64 17.87 Total foreign : 116.35 615.25 133.48 110.99 607.46 116.03 148.32 Major exporters 4/ : 22.84 211.25 8.26 67.58 147.21 65.65 29.49

Argentina : 2.35 10.10 0.03 0.03 5.33 6.77 0.39

Australia : 3.65 21.42 0.11 3.75 6.85 14.75 3.59

Canada : 4.41 28.61 0.38 3.30 8.04 18.81 6.55

EU-27 5/ : 12.43 151.12 7.74 60.50 127.00 25.32 18.97 Major importers 6/ : 63.57 171.94 74.26 14.97 230.78 6.58 72.41

Brazil : 0.34 5.88 6.40 0.20 10.70 0.40 1.53

China : 38.97 112.46 0.48 8.00 105.50 0.72 45.69

Select. Mideast 7/ : 6.57 13.40 20.43 1.85 30.83 0.92 8.64

N. Africa 8/ : 9.48 14.35 23.47 2.70 37.46 0.34 9.50

Pakistan : 3.48 20.96 3.13 0.40 22.80 2.10 2.66

Southeast Asia 9/ : 2.84 0.00 11.86 1.32 11.54 0.42 2.74 Selected other :

India : 5.80 78.57 0.01 0.10 70.92 0.02 13.43

FSU-12 : 12.92 115.45 6.50 24.65 76.32 37.75 20.81

Russia : 3.95 63.70 0.20 16.20 38.90 18.39 10.56

Kazakhstan : 2.46 12.55 0.12 2.70 7.53 5.70 1.90

Ukraine : 2.08 25.90 0.07 2.90 11.90 13.04 3.11

:

: 2009/10 (Estimated)

: World 3/ : 166.19 682.11 133.68 116.63 651.62 135.60 196.68 United States : 17.87 60.37 3.23 4.07 30.93 23.98 26.55 Total foreign : 148.32 621.74 130.46 112.56 620.68 111.62 170.13 Major exporters 4/ : 29.49 197.32 6.00 62.48 143.41 61.13 28.27

Argentina : 0.39 10.50 0.00 0.03 5.23 5.20 0.46

Australia : 3.59 21.92 0.11 3.70 6.73 14.79 4.11

Canada : 6.55 26.85 0.40 2.25 6.96 19.02 7.82

EU-27 5/ : 18.97 138.05 5.48 56.50 124.50 22.12 15.88 Major importers 6/ : 72.41 184.22 70.88 17.84 236.47 5.10 85.94

Brazil : 1.53 5.03 7.13 0.40 11.00 1.16 1.52

China : 45.69 115.12 1.39 10.00 107.00 0.89 54.31

Select. Mideast 7/ : 8.64 14.84 18.72 1.75 31.63 0.94 9.64

N. Africa 8/ : 9.50 20.23 21.40 2.95 39.10 0.19 11.83

Pakistan : 2.66 24.03 0.17 0.40 23.20 0.30 3.37

Southeast Asia 9/ : 2.74 0.00 13.38 1.79 12.44 0.49 3.19 Selected other :

India : 13.43 80.68 0.29 0.10 78.20 0.10 16.10

FSU-12 : 20.81 113.84 5.42 27.73 80.25 36.73 23.09

Russia : 10.56 61.70 0.16 19.00 42.00 18.56 11.87

Kazakhstan : 1.90 17.00 0.06 2.70 7.55 7.87 3.54

Ukraine : 3.11 20.90 0.03 3.30 12.30 9.34 2.40 =============================================================================== 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-489-19 December 2010

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: ===============================================================================

:

: 2010/11 (Projected) World 3/ :

November : 195.40 642.89 124.13 122.27 665.79 127.23 172.51

December : 196.68 646.51 122.65 124.00 666.47 125.58 176.72 United States :

November : 26.55 60.10 2.99 4.90 32.55 34.02 23.08

December : 26.55 60.10 2.99 4.90 32.28 34.02 23.35 Total foreign :

November : 168.85 582.79 121.14 117.38 633.24 93.21 149.43

December : 170.13 586.41 119.66 119.10 634.19 91.56 153.37 Major exporters 4/ :

November : 27.67 195.96 6.01 61.43 143.45 63.50 22.68

December : 28.27 198.40 5.51 62.93 145.65 62.00 24.52

Argentina Nov : 0.46 13.50 0.01 0.03 5.23 8.00 0.74

Dec : 0.46 13.50 0.01 0.03 5.43 8.00 0.54

Australia Nov : 4.99 24.00 0.10 3.90 6.98 16.00 6.11

Dec : 4.11 25.50 0.10 4.90 7.98 15.00 6.73

Canada Nov : 7.82 22.20 0.40 3.00 7.75 17.50 5.17

Dec : 7.82 23.17 0.40 4.00 8.75 17.00 5.64

EU-27 5/ Nov : 14.40 136.26 5.50 54.50 123.50 22.00 10.65

Dec : 15.88 136.23 5.00 54.00 123.50 22.00 11.61 Major importers 6/ :

November : 85.76 182.09 64.42 18.66 239.44 6.37 86.47

December : 85.94 183.74 63.62 19.66 239.76 5.67 87.87

Brazil Nov : 1.55 5.15 6.50 0.20 10.80 0.60 1.80

Dec : 1.52 5.50 6.00 0.20 10.80 0.60 1.62

China Nov : 54.31 114.50 1.00 11.00 107.80 2.00 60.01

Dec : 54.31 114.50 1.00 12.00 108.80 1.00 60.01

Sel. Mideast 7/Nov : 9.64 17.54 13.53 1.75 32.03 1.36 7.32

Dec : 9.64 17.54 13.53 1.75 31.83 1.86 7.02

N. Africa 8/ Nov : 11.62 17.55 22.40 2.95 40.45 0.19 10.93

Dec : 11.83 17.55 22.30 2.95 40.17 0.19 11.32

Pakistan Nov : 3.37 22.60 0.30 1.00 24.20 0.30 1.77

Dec : 3.37 23.90 0.30 1.00 24.20 0.30 3.07

SE Asia 9/ Nov : 3.19 0.00 12.20 1.21 12.06 0.43 2.91

Dec : 3.19 0.00 12.00 1.21 11.86 0.43 2.91 Selected other :

India Nov : 16.10 80.71 0.30 0.10 82.44 0.20 14.48

Dec : 16.10 80.71 0.30 0.10 82.44 0.20 14.48

FSU-12 Nov : 23.04 83.03 7.38 32.88 84.98 16.70 11.77

Dec : 23.09 82.63 7.33 32.33 84.35 16.70 11.99

Russia Nov : 11.87 42.00 2.00 25.00 48.00 4.00 3.87

Dec : 11.87 41.50 2.00 24.50 47.50 4.00 3.87

Kazakhstan Nov : 3.54 11.00 0.08 2.40 6.90 6.00 1.72

Dec : 3.54 11.00 0.08 2.40 6.90 6.00 1.72

Ukraine Nov : 2.40 17.00 0.05 2.80 11.60 6.00 1.85

Dec : 2.40 17.20 0.05 2.80 11.60 6.00 2.05 =============================================================================== 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-489-20 December 2010

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: ===============================================================================

:

: 2008/09

: World 3/ : 163.83 1109.40 110.33 645.60 1079.69 113.06 193.55 United States : 45.06 325.87 3.05 140.92 275.98 50.94 47.06 Total foreign : 118.78 783.54 107.28 504.68 803.71 62.12 146.49 Major exporters 4/ : 13.22 71.67 2.10 32.56 49.35 22.46 15.19

Argentina : 3.27 19.13 0.04 5.79 8.76 12.45 1.23

Australia : 2.67 12.27 0.00 5.79 7.25 4.41 3.29

Canada : 4.01 27.18 1.90 16.63 22.87 3.88 6.35 Major importers 5/ : 35.05 244.01 82.52 233.91 311.03 6.72 43.83

EU-27 6/ : 12.77 161.52 3.41 113.55 151.46 5.55 20.69

Japan : 1.71 0.22 19.61 15.05 19.97 0.00 1.57

Mexico : 4.74 32.25 10.47 25.24 42.06 0.16 5.24

N. Afr & Mideast 7/: 6.97 24.70 23.22 39.59 46.91 0.23 7.75

Saudi Arabia : 2.81 0.27 8.69 9.13 9.35 0.01 2.41

Southeast Asia 8/ : 3.19 24.64 5.21 20.36 28.27 0.77 4.01

South Korea : 2.12 0.36 7.25 6.41 8.21 0.00 1.51 Selected other :

Brazil : 12.87 53.62 1.60 40.75 48.53 7.15 12.41

China : 40.40 172.41 1.65 107.55 160.10 0.22 54.14

FSU-12 : 4.55 78.56 0.65 41.48 58.04 17.10 8.62

Russia : 1.69 40.70 0.11 22.10 32.90 4.79 4.80

Ukraine : 1.59 26.22 0.02 10.30 13.70 11.88 2.25

:

: 2009/10 (Estimated)

: World 3/ : 193.55 1107.90 115.68 648.38 1103.22 119.09 198.23 United States : 47.06 349.22 2.32 137.63 295.63 54.84 48.13 Total foreign : 146.49 758.68 113.36 510.76 807.59 64.25 150.10 Major exporters 4/ : 15.19 75.19 2.51 33.72 50.53 27.29 15.07

Argentina : 1.23 27.73 0.21 7.33 10.41 17.41 1.34

Australia : 3.29 11.10 0.00 5.32 6.89 4.76 2.74

Canada : 6.35 22.48 2.15 16.32 22.24 3.09 5.65 Major importers 5/ : 43.83 237.01 85.08 234.07 312.12 6.02 47.79

EU-27 6/ : 20.69 154.15 3.02 111.73 149.68 2.97 25.22

Japan : 1.57 0.18 19.20 14.48 19.40 0.00 1.56

Mexico : 5.24 27.27 10.98 24.13 40.90 0.65 1.94

N. Afr & Mideast 7/: 7.75 31.98 22.86 42.71 50.40 1.14 11.04

Saudi Arabia : 2.41 0.27 9.65 9.32 9.53 0.00 2.81

Southeast Asia 8/ : 4.01 22.77 6.13 20.64 28.65 1.26 3.00

South Korea : 1.51 0.34 8.50 6.40 8.71 0.00 1.64 Selected other :

Brazil : 12.41 58.61 1.11 42.28 50.00 9.03 13.09

China : 54.14 164.06 3.78 112.55 167.35 0.21 54.42

FSU-12 : 8.62 67.94 0.39 39.27 54.96 15.00 6.99

Russia : 4.80 31.82 0.06 20.57 30.69 3.10 2.89

Ukraine : 2.25 24.12 0.02 9.65 12.82 11.37 2.21 =============================================================================== 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-489-21 December 2010

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: ===============================================================================

:

: 2010/11 (Projected) World 3/ :

November : 199.02 1085.20 115.25 652.00 1123.99 118.35 160.23

December : 198.23 1088.58 114.19 652.16 1124.93 118.10 161.88 United States :

November : 48.13 332.39 2.07 139.95 304.15 53.86 24.58

December : 48.13 332.39 2.09 139.95 304.04 53.86 24.71 Total foreign :

November : 150.89 752.81 113.17 512.05 819.84 64.49 135.65

December : 150.10 756.19 112.10 512.21 820.89 64.24 137.17 Major exporters 4/ :

November : 16.10 77.56 2.03 34.36 51.90 30.43 13.36

December : 15.07 80.04 1.83 35.68 53.12 30.53 13.29

Argentina Nov : 1.47 31.08 0.03 8.02 11.23 19.70 1.64

Dec : 1.34 31.08 0.03 7.82 11.03 19.70 1.71

Australia Nov : 3.26 11.52 0.00 5.49 7.17 5.06 2.55

Dec : 2.74 13.91 0.00 6.49 8.17 5.36 3.12

Canada Nov : 5.65 21.97 1.87 16.19 22.53 3.13 3.83

Dec : 5.65 22.07 1.67 16.31 22.64 2.93 3.81 Major importers 5/ :

November : 46.90 227.37 85.69 239.65 318.72 7.91 33.33

December : 47.79 227.57 84.82 238.92 317.90 7.86 34.41

EU-27 6/ Nov : 24.14 138.85 4.97 112.70 151.21 6.01 10.74

Dec : 25.22 139.04 5.07 112.65 151.16 6.01 12.17

Japan Nov : 1.56 0.18 19.18 14.46 19.38 0.00 1.54

Dec : 1.56 0.18 19.18 14.46 19.38 0.00 1.54

Mexico Nov : 2.24 32.53 11.95 25.73 42.70 0.35 3.67

Dec : 1.94 32.53 10.85 24.83 41.70 0.30 3.32

N Afr/M.East 7/Nov : 10.94 30.36 21.01 43.71 51.59 0.77 9.94

Dec : 11.04 30.36 21.13 43.93 51.82 0.77 9.95

Saudi Arabia Nov : 2.81 0.27 8.81 9.43 9.63 0.00 2.26

Dec : 2.81 0.27 8.81 9.43 9.63 0.00 2.26

S.-east Asia 8/Nov : 3.00 24.77 5.90 21.84 29.84 0.79 3.04

Dec : 3.00 24.77 5.90 21.84 29.84 0.79 3.04

South Korea Nov : 1.64 0.34 9.04 7.04 9.42 0.00 1.60

Dec : 1.64 0.34 9.04 7.04 9.42 0.00 1.60 Selected other :

Brazil Nov : 13.09 53.73 1.41 43.58 51.30 7.03 9.89

Dec : 13.09 53.73 1.41 43.58 51.30 7.03 9.89

China Nov : 54.42 174.02 3.08 113.40 170.30 0.27 60.94

Dec : 54.42 174.02 3.08 113.40 170.30 0.27 60.94

FSU-12 Nov : 7.05 48.91 2.26 29.56 43.57 10.47 4.17

Dec : 6.99 48.66 2.26 29.23 43.02 10.47 4.42

Russia Nov : 2.86 17.30 1.90 11.88 20.40 0.28 1.38

Dec : 2.89 17.00 1.90 11.78 20.10 0.28 1.41

Ukraine Nov : 2.28 21.72 0.02 9.90 12.97 9.63 1.42

Dec : 2.21 21.82 0.02 9.73 12.77 9.63 1.65 =============================================================================== 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-489-22 December 2010

World Corn Supply and Use 1/

(Million Metric Tons) ===============================================================================

: Supply : Use :

:=========================:=======================:Ending

Region : : : : Domestic 2/ : :stocks

:Beginning:Produc-: :===============: :

: stocks : tion :Imports: Feed : Total :Exports: ===============================================================================

:

: 2008/09

: World 3/ : 131.32 797.77 82.38 478.85 781.80 84.48 147.29 United States : 41.26 307.14 0.34 131.63 259.27 46.97 42.50 Total foreign : 90.06 490.63 82.04 347.22 522.53 37.52 104.79 Major exporters 4/ : 5.27 27.57 0.06 8.80 16.30 11.99 4.61

Argentina : 2.18 15.00 0.03 4.50 6.40 10.32 0.49

South Africa : 3.09 12.57 0.03 4.30 9.90 1.67 4.11 Major importers 5/ : 16.51 117.90 48.99 115.37 162.54 2.67 18.17

Egypt : 0.85 6.65 5.03 8.70 11.10 0.01 1.41

EU-27 6/ : 4.36 62.32 2.74 47.00 61.60 1.74 6.08

Japan : 1.16 0.00 16.53 12.10 16.70 0.00 1.00

Mexico : 4.13 24.23 7.76 16.40 32.40 0.16 3.56

Southeast Asia 7/ : 3.19 24.58 5.20 20.30 28.20 0.76 4.00

South Korea : 2.08 0.09 7.19 6.37 7.89 0.00 1.47 Selected other :

Brazil : 12.58 51.00 1.14 38.50 45.50 7.14 12.08

Canada : 1.46 10.59 1.84 7.53 11.66 0.37 1.86

China : 39.39 165.90 0.05 107.00 152.00 0.17 53.17

FSU-12 : 1.14 21.67 0.42 12.92 14.76 6.89 1.58

Ukraine : 0.67 11.40 0.01 5.10 5.85 5.50 0.73

:

: 2009/10 (Estimated)

: World 3/ : 147.29 812.40 89.67 483.03 812.50 92.92 147.19 United States : 42.50 333.01 0.21 131.06 281.89 50.46 43.37 Total foreign : 104.79 479.39 89.46 351.97 530.61 42.46 103.82 Major exporters 4/ : 4.61 35.92 0.23 9.70 17.30 17.50 5.95

Argentina : 0.49 22.50 0.20 5.00 6.90 15.50 0.79

South Africa : 4.11 13.42 0.03 4.70 10.40 2.00 5.16 Major importers 5/ : 18.17 107.16 52.16 112.21 160.41 3.40 13.68

Egypt : 1.41 6.82 5.80 10.10 12.50 0.02 1.52

EU-27 6/ : 6.08 57.15 2.90 45.00 60.00 1.50 4.63

Japan : 1.00 0.00 15.98 11.40 16.00 0.00 0.98

Mexico : 3.56 20.37 8.30 14.20 30.20 0.65 1.38

Southeast Asia 7/ : 4.00 22.71 6.12 20.60 28.60 1.23 3.00

South Korea : 1.47 0.08 8.46 6.36 8.41 0.00 1.59 Selected other :

Brazil : 12.08 56.10 0.70 40.00 47.00 9.00 12.88

Canada : 1.86 9.56 2.10 7.68 11.63 0.13 1.76

China : 53.17 158.00 1.30 112.00 159.00 0.15 53.31

FSU-12 : 1.58 17.85 0.23 11.17 12.77 5.60 1.29

Ukraine : 0.73 10.50 0.01 4.80 5.50 5.07 0.67 =============================================================================== 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-489-23 December 2010

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: ===============================================================================

:

: 2010/11 (Projected) World 3/ :

November : 147.95 818.52 90.90 495.78 837.31 93.18 129.16

December : 147.19 820.71 89.93 495.65 837.91 93.03 130.00 United States :

November : 43.37 318.52 0.25 134.63 291.61 49.53 21.01

December : 43.37 318.52 0.38 134.63 291.61 49.53 21.14 Total foreign :

November : 104.58 500.00 90.65 361.15 545.71 43.65 108.15

December : 103.82 502.19 89.55 361.03 546.30 43.50 108.86 Major exporters 4/ :

November : 6.46 37.50 0.05 10.10 17.90 20.00 6.11

December : 5.95 37.50 0.05 10.30 18.00 20.00 5.50

Argentina Nov : 0.92 25.00 0.03 5.50 7.50 17.50 0.94

Dec : 0.79 25.00 0.03 5.30 7.30 17.50 1.02

South Africa Nov : 5.54 12.50 0.03 4.60 10.40 2.50 5.16

Dec : 5.16 12.50 0.03 5.00 10.70 2.50 4.48 Major importers 5/ :

November : 13.37 111.18 54.70 114.45 163.00 2.11 14.14

December : 13.68 111.53 53.70 113.55 162.00 2.06 14.85

Egypt Nov : 1.44 7.00 5.40 10.10 12.60 0.00 1.24

Dec : 1.52 7.00 5.40 10.10 12.60 0.00 1.32

EU-27 6/ Nov : 3.96 54.84 4.50 43.50 58.50 1.00 3.80

Dec : 4.63 55.19 4.50 43.50 58.50 1.00 4.82

Japan Nov : 1.00 0.00 16.10 11.50 16.10 0.00 1.00

Dec : 0.98 0.00 16.10 11.50 16.10 0.00 0.98

Mexico Nov : 1.81 24.50 9.10 15.90 32.10 0.35 2.96

Dec : 1.38 24.50 8.10 15.00 31.10 0.30 2.58

S.-east Asia 7/Nov : 3.00 24.71 5.90 21.80 29.80 0.76 3.04

Dec : 3.00 24.71 5.90 21.80 29.80 0.76 3.04

South Korea Nov : 1.59 0.08 9.00 7.00 9.10 0.00 1.57

Dec : 1.59 0.08 9.00 7.00 9.10 0.00 1.57 Selected other :

Brazil Nov : 12.88 51.00 1.00 41.30 48.30 7.00 9.58

Dec : 12.88 51.00 1.00 41.30 48.30 7.00 9.58

Canada Nov : 1.76 11.00 1.80 8.20 12.50 0.30 1.76

Dec : 1.76 11.71 1.60 8.50 12.80 0.50 1.77

China Nov : 53.31 168.00 1.00 113.00 162.00 0.20 60.11

Dec : 53.31 168.00 1.00 113.00 162.00 0.20 60.11

FSU-12 Nov : 1.35 18.07 1.18 12.06 13.66 5.61 1.33

Dec : 1.29 18.54 1.18 12.24 13.83 5.61 1.58

Ukraine Nov : 0.74 11.50 0.01 5.30 6.00 5.50 0.75

Dec : 0.67 12.00 0.01 5.50 6.20 5.50 0.98 =============================================================================== 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-489-24 December 2010

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 : ===============================================================================

:

: 2008/09 World 3/ : 80.62 448.15 27.15 437.09 28.94 91.68 United States : 0.92 6.40 0.61 3.96 3.00 0.96 Total foreign : 79.70 441.75 26.54 433.12 25.93 90.72 Major exporters 4/ : 18.43 150.32 0.80 123.08 19.52 26.95

India : 13.00 99.18 0.00 91.09 2.09 19.00

Pakistan : 0.70 6.90 0.00 3.49 2.91 1.20

Thailand : 2.71 19.85 0.30 9.50 8.57 4.79

Vietnam : 2.02 24.39 0.50 19.00 5.95 1.96 Major importers 5/ : 14.43 64.48 11.53 74.06 0.74 15.65

Brazil : 0.97 8.57 0.68 8.53 0.57 1.12

EU-27 6/ : 1.13 1.62 1.34 2.93 0.14 1.02

Indonesia : 5.61 38.30 0.25 37.09 0.01 7.06

Nigeria : 0.77 3.20 1.75 5.15 0.00 0.57

Philippines : 4.42 10.76 2.60 13.10 0.00 4.67

Sel. Mideast 7/ : 1.43 1.67 3.73 5.65 0.02 1.16 Selected other :

Burma : 0.59 10.15 0.00 9.65 1.05 0.04

C. Amer & Carib 8/ : 0.40 1.51 1.31 2.92 0.00 0.31

China : 38.02 134.33 0.34 133.00 0.78 38.90

Egypt : 0.69 4.40 0.02 4.00 0.55 0.56

Japan : 2.56 8.03 0.66 8.33 0.20 2.72

Mexico : 0.19 0.16 0.59 0.76 0.01 0.17

South Korea : 0.69 4.84 0.25 4.79 0.00 1.00

:

: 2009/10 (Estimated) World 3/ : 91.68 441.23 27.52 437.60 29.91 95.32 United States : 0.96 6.92 0.60 3.86 3.47 1.15 Total foreign : 90.72 434.31 26.91 433.73 26.44 94.16 Major exporters 4/ : 26.95 140.88 0.70 117.68 21.00 29.85

India : 19.00 89.13 0.00 85.43 2.20 20.50

Pakistan : 1.20 6.80 0.00 2.90 3.80 1.30

Thailand : 4.79 20.26 0.30 10.20 8.50 6.65

Vietnam : 1.96 24.69 0.40 19.15 6.50 1.40 Major importers 5/ : 15.65 62.38 11.45 75.13 0.60 13.74

Brazil : 1.12 7.66 0.90 8.55 0.35 0.78

EU-27 6/ : 1.02 2.00 1.24 3.00 0.23 1.03

Indonesia : 7.06 37.10 0.80 37.80 0.00 7.16

Nigeria : 0.57 3.40 1.70 5.20 0.00 0.47

Philippines : 4.67 9.77 2.20 13.30 0.00 3.35

Sel. Mideast 7/ : 1.16 2.07 3.35 5.64 0.02 0.92 Selected other :

Burma : 0.04 10.60 0.00 9.90 0.40 0.34

C. Amer & Carib 8/ : 0.31 1.62 1.42 3.01 0.00 0.35

China : 38.90 136.57 0.30 134.32 0.60 40.85

Egypt : 0.56 4.16 0.04 3.76 0.70 0.29

Japan : 2.72 7.71 0.70 8.20 0.20 2.73

Mexico : 0.17 0.18 0.61 0.78 0.01 0.17

South Korea : 1.00 4.92 0.30 4.75 0.01 1.45 =============================================================================== 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-489-25 December 2010

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 : ===============================================================================

:

: 2010/11 (Projected) World 3/ :

November : 95.37 451.44 28.72 452.55 30.47 94.27

December : 95.32 452.41 28.73 452.97 30.49 94.76 United States :

November : 1.15 7.40 0.62 4.00 3.64 1.53

December : 1.15 7.40 0.62 4.00 3.64 1.53 Total foreign :

November : 94.22 444.04 28.10 448.55 26.83 92.74

December : 94.16 445.02 28.11 448.97 26.84 93.24 Major exporters 4/ :

November : 30.01 147.20 0.85 128.50 20.65 28.91

December : 29.85 145.17 0.85 127.70 20.65 27.52

India Nov : 20.50 97.00 0.00 96.00 2.50 19.00

Dec : 20.50 95.00 0.00 95.00 2.50 18.00

Pakistan Nov : 1.30 5.10 0.00 3.00 2.65 0.75

Dec : 1.30 5.00 0.00 3.00 2.65 0.65

Thailand Nov : 6.65 20.35 0.35 10.20 9.70 7.45

Dec : 6.65 20.35 0.35 10.20 9.70 7.45

Vietnam Nov : 1.56 24.75 0.50 19.30 5.80 1.71

Dec : 1.40 24.82 0.50 19.50 5.80 1.42 Major importers 5/ :

November : 13.73 65.04 11.31 76.49 0.75 12.84

December : 13.74 65.05 11.31 76.49 0.75 12.86

Brazil Nov : 0.78 8.40 0.65 8.55 0.55 0.73

Dec : 0.78 8.40 0.65 8.55 0.55 0.73

EU-27 6/ Nov : 1.02 2.01 1.35 3.05 0.18 1.14

Dec : 1.03 2.02 1.35 3.05 0.18 1.17

Indonesia Nov : 7.16 38.00 0.65 38.55 0.00 7.26

Dec : 7.16 38.00 0.65 38.55 0.00 7.26

Nigeria Nov : 0.47 3.60 1.90 5.50 0.00 0.47

Dec : 0.47 3.60 1.90 5.50 0.00 0.47

Philippines Nov : 3.35 10.50 2.00 13.50 0.00 2.35

Dec : 3.35 10.50 2.00 13.50 0.00 2.35

Sel. Mideast 7/Nov : 0.92 2.13 3.45 5.65 0.02 0.83

Dec : 0.92 2.13 3.45 5.65 0.02 0.83 Selected other :

Burma Nov : 0.34 10.50 0.00 10.10 0.50 0.24

Dec : 0.34 10.50 0.00 10.10 0.50 0.24

C. Am & Car. 8/Nov : 0.35 1.63 1.48 3.11 0.00 0.35

Dec : 0.35 1.63 1.48 3.11 0.00 0.35

China Nov : 40.85 136.00 0.33 135.00 0.90 41.28

Dec : 40.85 139.30 0.33 136.50 0.90 43.08

Egypt Nov : 0.29 3.90 0.15 3.85 0.30 0.19

Dec : 0.29 3.59 0.15 3.60 0.30 0.13

Japan Nov : 2.73 7.85 0.70 8.13 0.20 2.95

Dec : 2.73 7.85 0.70 8.13 0.20 2.95

Mexico Nov : 0.17 0.16 0.65 0.82 0.01 0.16

Dec : 0.17 0.16 0.65 0.82 0.01 0.16

South Korea Nov : 1.46 4.30 0.33 4.80 0.01 1.28

Dec : 1.45 4.30 0.33 4.80 0.01 1.28 =============================================================================== 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-489-26 December 2010

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

: World : 60.73 107.10 30.02 109.95 30.07 -2.68 60.52 United States : 10.05 12.82 3/ 3.59 13.26 -0.32 6.34 Total foreign : 50.68 94.29 30.02 106.36 16.80 -2.36 54.18 Major exporters 4/ : 17.75 42.32 1.54 26.83 13.88 -0.21 21.13

Central Asia 5/ : 2.34 7.08 0.01 1.60 4.45 0.00 3.37

Afr. Fr. Zone 6/ : 0.67 2.41 3/ 0.19 2.15 0.00 0.75

S. Hemis. 7/ : 8.33 8.68 0.31 5.52 4.60 -0.23 7.43

Australia : 0.63 1.50 3/ 0.05 1.20 -0.10 0.98

Brazil : 6.25 5.48 0.05 4.20 2.74 -0.15 4.99

India : 5.63 22.60 0.80 17.75 2.36 0.00 8.92 Major importers 8/ : 30.99 49.21 26.03 75.24 1.88 -2.15 31.28

Mexico : 0.93 0.57 1.32 1.85 0.18 0.03 0.76

China : 20.50 36.70 7.00 44.00 0.08 -2.25 22.37

EU-27 9/ : 0.67 1.23 0.97 1.14 1.02 0.05 0.66

Turkey : 1.95 1.93 2.92 5.10 0.14 -0.09 1.65

Pakistan : 4.47 8.70 1.92 11.25 0.36 0.03 3.46

Indonesia : 0.39 0.03 2.00 2.00 0.02 0.05 0.35

Thailand : 0.32 3/ 1.60 1.60 0.01 0.03 0.29

Bangladesh : 0.62 0.04 3.80 3.75 0.00 0.01 0.70

Vietnam : 0.25 0.01 1.25 1.25 0.00 0.00 0.26

:

: 2009/10 (Estimated)

: World : 60.52 101.54 35.89 118.38 35.60 -0.02 44.00 United States : 6.34 12.19 3/ 3.46 12.04 0.08 2.95 Total foreign : 54.18 89.35 35.89 114.92 23.56 -0.10 41.05 Major exporters 4/ : 21.13 42.04 1.54 28.72 20.17 -0.21 16.02

Central Asia 5/ : 3.37 5.99 3/ 1.70 5.86 0.00 1.81

Afr. Fr. Zone 6/ : 0.75 2.22 3/ 0.18 2.27 0.00 0.52

S. Hemis. 7/ : 7.43 9.20 0.39 5.67 4.95 -0.23 6.62

Australia : 0.98 1.78 3/ 0.04 2.12 -0.10 0.70

Brazil : 4.99 5.45 0.15 4.40 1.99 -0.15 4.35

India : 8.92 23.20 0.60 19.50 6.55 0.00 6.67 Major importers 8/ : 31.28 44.88 31.74 82.04 2.24 0.11 23.52

Mexico : 0.76 0.42 1.39 1.90 0.08 0.03 0.58

China : 22.37 32.00 10.90 50.00 0.02 0.00 15.25

EU-27 9/ : 0.66 1.01 0.94 1.03 1.06 0.05 0.47

Turkey : 1.65 1.75 4.39 5.80 0.15 -0.08 1.93

Pakistan : 3.46 9.60 1.40 10.90 0.70 0.03 2.83

Indonesia : 0.35 0.03 2.10 2.05 0.02 0.05 0.36

Thailand : 0.29 3/ 1.81 1.78 0.01 0.03 0.29

Bangladesh : 0.70 0.05 3.80 3.80 0.00 0.01 0.74

Vietnam : 0.26 0.02 1.69 1.60 0.00 0.00 0.37 ================================================================================ 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, Tanzania, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, Russia, South Korea, and Taiwan. 9/ Includes intra-EU trade.

WASDE-489-27 December 2010

World Cotton Supply and Use 1/

(Million 480-pound bales) ================================================================================

: Supply : Use : :

Region :=========================:================: Loss : Ending

:Beginning:Produc-:Imports:Domestic:Exports: 2/ : stocks

: stocks : tion : : : : : ================================================================================

:

: 2010/11 (Projected) World :

November : 43.65 115.25 38.86 116.82 38.85 -0.11 42.20

December : 44.00 115.53 38.66 116.25 38.68 -0.13 43.39 United States :

November : 2.95 18.42 3/ 3.45 15.75 -0.03 2.20

December : 2.95 18.27 0.01 3.55 15.75 0.02 1.90 Total foreign :

November : 40.70 96.83 38.86 113.37 23.10 -0.08 40.00

December : 41.05 97.26 38.65 112.70 22.93 -0.15 41.49 Major exporters 4/ :

November : 15.77 50.83 1.97 30.50 19.97 -0.19 18.28

December : 16.02 51.66 1.94 30.33 19.81 -0.26 19.74

Central Asia 5/Nov : 1.81 7.29 0.01 1.69 5.87 0.00 1.55

Dec : 1.81 7.12 0.01 1.69 5.74 0.00 1.50

Afr. Fr. Zn. 6/Nov : 0.52 2.75 3/ 0.18 2.57 0.00 0.52

Dec : 0.52 2.63 3/ 0.18 2.45 0.00 0.51

S. Hemis 7/ Nov : 6.35 13.19 1.01 5.81 6.29 -0.20 8.65

Dec : 6.62 14.32 0.98 5.83 6.37 -0.28 10.00

Australia Nov : 0.62 3.50 3/ 0.04 2.90 -0.07 1.26

Dec : 0.70 4.00 3/ 0.04 2.70 -0.15 2.11

Brazil Nov : 4.25 7.50 0.80 4.50 2.40 -0.15 5.80

Dec : 4.35 8.10 0.80 4.50 2.65 -0.15 6.25

India Nov : 6.67 26.00 0.50 21.20 4.80 0.00 7.17

Dec : 6.67 26.00 0.50 21.00 4.80 0.00 7.37 Major importers 8/ :

November : 23.42 43.25 34.27 78.70 1.94 0.11 20.21

December : 23.52 42.82 34.10 78.20 1.91 0.11 20.24

Mexico Nov : 0.58 0.62 1.30 1.83 0.15 0.03 0.50

Dec : 0.58 0.62 1.30 1.83 0.15 0.03 0.50

China Nov : 15.25 30.00 15.00 47.00 0.03 0.00 13.22

Dec : 15.25 30.00 15.00 47.00 0.03 0.00 13.22

EU-27 9/ Nov : 0.47 1.18 0.87 0.96 1.11 0.05 0.40

Dec : 0.47 1.05 0.87 0.96 1.03 0.05 0.36

Turkey Nov : 1.93 2.25 3.10 5.90 0.15 -0.08 1.31

Dec : 1.93 2.25 3.10 5.90 0.15 -0.08 1.31

Pakistan Nov : 2.73 9.10 1.70 10.80 0.30 0.03 2.41

Dec : 2.83 8.80 1.50 10.30 0.35 0.03 2.46

Indonesia Nov : 0.36 0.03 1.93 1.90 0.02 0.05 0.35

Dec : 0.36 0.03 1.93 1.90 0.02 0.05 0.35

Thailand Nov : 0.29 3/ 1.60 1.60 0.01 0.03 0.26

Dec : 0.29 3/ 1.63 1.60 0.01 0.03 0.29

Bangladesh Nov : 0.74 0.05 3.95 4.00 0.00 0.01 0.73

Dec : 0.74 0.05 3.95 4.00 0.00 0.01 0.73

Vietnam Nov : 0.37 0.02 1.55 1.60 0.00 0.00 0.34

Dec : 0.37 0.02 1.55 1.60 0.00 0.00 0.34 ================================================================================ 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, Tanzania, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, Russia, South Korea, and Taiwan. 9/ Includes intra-EU trade.

WASDE-489-28 December 2010

World Soybean Supply and Use 1/

(Million Metric Tons) ===============================================================================

: Supply : Use :

:=========================:=======================:Ending

Region : : : : : :stocks

:Beginning:Produc-: : Domestic : :

: stocks : tion :Imports: Crush : Total :Exports: ===============================================================================

:

: 2008/09 World 2/ : 52.86 211.96 77.18 192.91 221.13 76.85 44.02 United States : 5.58 80.75 0.36 45.23 48.11 34.82 3.76 Total foreign : 47.28 131.22 76.81 147.68 173.02 42.03 40.26 Major exporters 3/ : 40.83 93.80 1.31 64.81 69.42 37.81 28.70

Argentina : 21.76 32.00 1.24 31.24 32.82 5.59 16.59

Brazil : 18.90 57.80 0.04 31.87 34.72 29.99 12.04 Major importers 4/ : 5.61 17.58 64.50 61.66 77.20 0.45 10.04

China : 4.25 15.54 41.10 41.04 51.44 0.40 9.05

EU-27 : 0.81 0.64 13.21 12.86 14.09 0.02 0.56

Japan : 0.27 0.26 3.40 2.50 3.75 0.00 0.18

Mexico : 0.06 0.15 3.33 3.47 3.50 0.00 0.04

:

: 2009/10 (Estimated) World 2/ : 44.02 260.09 87.63 209.44 238.55 92.78 60.41 United States : 3.76 91.42 0.40 47.67 50.61 40.85 4.11 Total foreign : 40.26 168.67 87.23 161.77 187.94 51.93 56.29 Major exporters 3/ : 28.70 130.70 0.19 69.33 74.01 47.02 38.57

Argentina : 16.59 54.50 0.00 33.96 35.56 13.09 22.45

Brazil : 12.04 69.00 0.17 33.67 36.57 28.58 16.06 Major importers 4/ : 10.04 16.84 74.01 69.45 85.34 0.25 15.29

China : 9.05 14.70 50.34 48.83 59.43 0.18 14.47

EU-27 : 0.56 0.84 12.90 12.61 13.77 0.04 0.48

Japan : 0.18 0.23 3.40 2.51 3.72 0.00 0.09

Mexico : 0.04 0.11 3.45 3.51 3.55 0.00 0.05

:

: 2010/11 (Projected) World 2/ :

November : 60.40 257.36 95.47 224.38 254.67 97.15 61.41

December : 60.41 257.78 96.17 225.78 256.24 98.00 60.12 United States :

November : 4.11 91.85 0.27 45.31 48.48 42.73 5.03

December : 4.11 91.85 0.27 45.31 48.48 43.27 4.49 Total foreign :

November : 56.29 165.50 95.20 179.06 206.19 54.42 56.38

December : 56.29 165.92 95.90 180.47 207.76 54.72 55.64 Major exporters 3/ :

November : 38.67 126.00 0.20 74.50 79.33 49.04 36.50

December : 38.57 126.00 0.20 75.50 80.33 49.04 35.40

Argentina Nov : 22.55 52.00 0.00 39.30 40.95 13.00 20.60

Dec : 22.45 52.00 0.00 39.30 40.95 13.00 20.50

Brazil Nov : 16.06 67.50 0.18 33.50 36.50 31.40 15.84

Dec : 16.06 67.50 0.18 34.50 37.50 31.40 14.84 Major importers 4/ :

November : 15.32 16.71 81.69 79.20 95.69 0.51 17.52

December : 15.29 16.74 82.34 79.60 96.23 0.51 17.63

China Nov : 14.47 14.40 57.00 57.80 68.85 0.45 16.57

Dec : 14.47 14.40 57.00 57.80 68.85 0.45 16.57

EU-27 Nov : 0.51 1.00 13.50 13.20 14.42 0.03 0.56

Dec : 0.48 1.03 14.00 13.60 14.82 0.03 0.66

Japan Nov : 0.09 0.23 3.45 2.47 3.69 0.00 0.07

Dec : 0.09 0.23 3.45 2.47 3.69 0.00 0.07

Mexico Nov : 0.05 0.11 3.60 3.67 3.71 0.00 0.05

Dec : 0.05 0.11 3.60 3.67 3.71 0.00 0.05 =============================================================================== 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-489-29 December 2010

World Soybean Meal Supply and Use 1/

(Million Metric Tons) ===============================================================================

: Supply : Use :

:=========================:===================: Ending

Region : : : : : : stocks

:Beginning:Produc-: : Total : :

: stocks : tion :Imports: Domestic: Exports : ===============================================================================

:

: 2008/09 World 2/ : 6.21 151.60 51.13 151.80 52.73 4.41 United States : 0.27 35.47 0.08 27.90 7.71 0.21 Total foreign : 5.95 116.12 51.05 123.90 45.02 4.20 Major exporters 3/ : 3.83 54.81 0.10 15.00 40.94 2.79

Argentina : 1.14 24.36 0.00 0.63 24.03 0.85

Brazil : 2.59 24.70 0.08 12.42 13.11 1.84

India : 0.11 5.75 0.01 1.95 3.81 0.10 Major importers 4/ : 1.27 44.10 28.19 71.70 1.53 0.33

EU-27 : 1.07 10.13 20.98 31.58 0.47 0.13

China : 0.00 32.48 0.22 31.67 1.02 0.00

:

: 2009/10 (Estimated) World 2/ : 4.41 165.15 53.49 161.79 55.37 5.88 United States : 0.21 37.83 0.15 27.78 10.14 0.27 Total foreign : 4.20 127.32 53.34 134.02 45.24 5.61 Major exporters 3/ : 2.79 58.18 0.10 16.17 40.75 4.16

Argentina : 0.85 26.43 0.00 0.69 24.81 1.78

Brazil : 1.84 26.09 0.09 12.84 12.99 2.20

India : 0.10 5.66 0.01 2.65 2.95 0.17 Major importers 4/ : 0.33 50.21 29.16 77.53 1.71 0.46

EU-27 : 0.13 9.93 21.70 31.08 0.47 0.22

China : 0.00 38.64 0.08 37.55 1.18 0.00

:

: 2010/11 (Projected) World 2/ :

November : 5.95 176.82 56.31 174.47 58.45 6.15

December : 5.88 177.88 57.04 175.25 59.39 6.16 United States :

November : 0.28 35.86 0.15 27.76 8.26 0.27

December : 0.27 35.86 0.15 27.67 8.35 0.27 Total foreign :

November : 5.67 140.96 56.16 146.71 50.20 5.88

December : 5.61 142.02 56.89 147.58 51.04 5.89 Major exporters 3/ :

November : 4.26 63.00 0.10 17.15 45.80 4.42

December : 4.16 63.74 0.10 17.15 46.64 4.21

Argentina Nov : 1.89 30.46 0.00 0.71 29.55 2.10

Dec : 1.78 30.46 0.00 0.71 29.55 1.99

Brazil Nov : 2.20 26.00 0.10 13.35 12.80 2.15

Dec : 2.20 26.74 0.10 13.35 13.64 2.05

India Nov : 0.17 6.54 0.01 3.10 3.45 0.17

Dec : 0.17 6.54 0.01 3.10 3.45 0.17 Major importers 4/ :

November : 0.44 57.86 31.15 87.29 1.70 0.46

December : 0.46 58.18 31.19 87.49 1.70 0.64

EU-27 Nov : 0.20 10.40 23.25 33.19 0.45 0.21

Dec : 0.22 10.71 23.25 33.34 0.45 0.39

China Nov : 0.00 45.78 0.10 44.68 1.20 0.00

Dec : 0.00 45.78 0.10 44.68 1.20 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-489-30 December 2010

World Soybean Oil Supply and Use 1/

(Million Metric Tons) ===============================================================================

: Supply : Use :

:=========================:===================: Ending

Region : : : : : : stocks

:Beginning:Produc-: : Total : :

: stocks : tion :Imports: Domestic: Exports : ===============================================================================

:

: 2008/09 World 2/ : 3.10 35.74 8.93 35.88 9.11 2.78 United States : 1.13 8.50 0.04 7.38 1.00 1.30 Total foreign : 1.97 27.24 8.89 28.50 8.12 1.48 Major exporters 3/ : 0.90 14.35 0.80 8.48 7.01 0.56

Argentina : 0.30 5.91 0.00 1.43 4.70 0.08

Brazil : 0.39 6.12 0.01 4.28 1.91 0.34

EU-27 : 0.21 2.31 0.79 2.78 0.40 0.14 Major importers 4/ : 0.29 8.60 3.60 11.83 0.09 0.57

China : 0.23 7.31 2.49 9.49 0.08 0.47

India : 0.06 1.29 1.06 2.30 0.00 0.10

Pakistan : 0.01 0.00 0.04 0.05 0.00 0.00

:

: 2009/10 (Estimated) World 2/ : 2.78 38.75 8.67 38.11 9.10 2.98 United States : 1.30 8.90 0.05 7.20 1.52 1.52 Total foreign : 1.48 29.85 8.62 30.92 7.58 1.46 Major exporters 3/ : 0.56 15.17 0.59 9.29 6.28 0.75

Argentina : 0.08 6.44 0.00 1.93 4.43 0.17

Brazil : 0.34 6.46 0.04 4.97 1.45 0.42

EU-27 : 0.14 2.27 0.55 2.40 0.40 0.16 Major importers 4/ : 0.57 9.97 3.14 13.27 0.08 0.33

China : 0.47 8.70 1.51 10.44 0.08 0.17

India : 0.10 1.27 1.60 2.81 0.00 0.16

Pakistan : 0.00 0.00 0.03 0.03 0.00 0.00

:

: 2010/11 (Projected) World 2/ :

November : 2.94 41.70 8.97 41.68 9.45 2.49

December : 2.98 41.96 9.17 41.67 9.65 2.79 United States :

November : 1.52 8.61 0.05 7.76 1.23 1.20

December : 1.52 8.61 0.05 7.76 1.23 1.20 Total foreign :

November : 1.42 33.09 8.92 33.92 8.23 1.28

December : 1.46 33.36 9.12 33.92 8.42 1.59 Major exporters 3/ :

November : 0.71 16.33 0.60 10.10 6.90 0.65

December : 0.75 16.59 0.80 10.10 7.09 0.95

Argentina Nov : 0.17 7.53 0.00 2.24 5.25 0.20

Dec : 0.17 7.53 0.00 2.27 5.25 0.18

Brazil Nov : 0.38 6.43 0.05 5.20 1.35 0.32

Dec : 0.42 6.62 0.05 5.17 1.54 0.38

EU-27 Nov : 0.16 2.38 0.55 2.67 0.30 0.12

Dec : 0.16 2.45 0.75 2.67 0.30 0.39 Major importers 4/ :

November : 0.33 11.78 3.34 15.10 0.07 0.27

December : 0.33 11.78 3.34 15.10 0.07 0.27

China Nov : 0.17 10.32 2.00 12.20 0.07 0.22

Dec : 0.17 10.32 2.00 12.20 0.07 0.22

India Nov : 0.16 1.47 1.30 2.87 0.00 0.05

Dec : 0.16 1.47 1.30 2.87 0.00 0.05

Pakistan Nov : 0.00 0.00 0.04 0.04 0.00 0.00

Dec : 0.00 0.00 0.04 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-489-31 December 2010

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

2009 :

IV : 6426 5996 12504 8827 1441 10385 22889 1924 46.3 Annual : 25965 22999 49274 35511 5663 41674 90947 7534 189.3

:

2010 :

I : 6251 5607 11936 8732 1340 10188 22124 1867 47.4

II : 6549 5301 11922 9198 1383 10706 22628 1891 49.8

III : 6771 5401 12244 9496 1415 11049 23293 1910 48.1

IV* : 6615 6015 12707 9300 1475 10895 23602 1925 47.6 Annual : Nov Proj : 25871 22234 48403 36612 5587 42698 91101 7607 192.8 Dec Proj : 26186 22324 48809 36726 5613 42838 91647 7593 192.8

:

2011 :

I* : 6305 5640 12018 9075 1375 10565 22583 1890 48.6

II* : 6400 5375 11846 9325 1375 10825 22671 1895 50.4

III* : 6540 5565 12176 9525 1390 11045 23221 1905 48.5 Annual : Nov Proj : 25445 22560 48293 37150 5560 43210 91503 7635 195.6 Dec Proj : 25535 22570 48393 37200 5560 43260 91653 7635 195.5 =============================================================================== * 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 : 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

2009 :

IV : 83.29 41.20 72.1 81.4 117.7 15.40 Annual : 83.25 41.24 77.6 76.5 103.0 12.83

:

2010 :

I : 89.44 50.41 82.2 75.6 126.0 15.60

II : 96.33 59.60 85.0 84.4 82.8 15.07

III : 95.47 60.13 84.5 97.9 93.1 16.80

IV* : 99-100 49-50 80-81 102-105 119-122 17.65-17.85 Annual : Nov Proj : 94.81 55.29 83.4 90.2 103.0 16.30-16.40 Dec Proj : 95.19 54.91 83.1 90.4 105.6 16.25-16.35

:

2011 :

I* : 97-103 52-54 81-85 82-86 107-113 16.00-16.50

II* : 97-105 54-58 82-88 84-90 86-94 15.70-16.50

III* : 95-103 56-60 83-89 90-98 88-96 15.75-16.75 Annual : Nov Proj : 96-103 54-58 83-89 87-94 95-103 15.95-16.85 Dec Proj : 96-104 53-57 81-88 87-94 97-104 15.90-16.70 =============================================================================== *Projection. 1/ Simple average of months. 2/ 5-Area, Direct, Total all grades 3/ National Base, Live equiv 51-52% lean. 4/ Wholesale, 12-city average. 5/ 8-16 lbs, hens National. 6/ Grade A large, New York, volume buyers. 7/ Prices received by farmers for all milk.

WASDE-489-32 December 2010

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 : 2009 : 642 26068 2626 29336 1935 565 26836 61.1 2010 Proj. Nov : 565 25973 2468 29006 2313 535 26158 59.1

Dec : 565 26288 2361 29214 2303 535 26376 59.5 2011 Proj. Nov : 535 25547 2540 28622 2270 515 25837 57.8

Dec : 535 25637 2455 28627 2300 515 25812 57.8

: PORK : 2009 : 635 23020 834 24489 4095 525 19870 50.1 2010 Proj. Nov : 525 22256 868 23649 4368 485 18796 47.0

Dec : 525 22346 880 23751 4255 525 18971 47.5 2011 Proj. Nov : 485 22581 895 23961 4675 475 18811 46.7

Dec : 525 22591 895 24011 4675 500 18836 46.7

: TOTAL RED MEAT 5/ : 2009 : 1307 49412 3631 54350 6046 1114 47191 112.6 2010 Proj. Nov : 1114 48542 3510 53166 6702 1046 45418 107.4

Dec : 1114 48948 3410 53472 6577 1083 45812 108.3 2011 Proj. Nov : 1046 48432 3611 53089 6965 1016 45108 105.8

Dec : 1083 48532 3526 53141 6995 1038 45108 105.8

: BROILERS : 2009 : 745 35131 86 35961 6818 616 28527 79.7 2010 Proj. Nov : 616 36220 83 36919 6346 695 29878 82.8

Dec : 616 36333 90 37039 6419 725 29895 82.8 2011 Proj. Nov : 695 36752 96 37543 6650 660 30233 83.1

Dec : 725 36802 96 37623 6650 670 30303 83.3

: TURKEYS : 2009 : 396 5588 13 5997 534 262 5201 16.9 2010 Proj. Nov : 262 5514 12 5788 555 210 5023 16.2

Dec : 262 5539 14 5815 554 210 5051 16.3 2011 Proj. Nov : 210 5487 12 5709 550 225 4934 15.8

Dec : 210 5487 16 5713 550 225 4938 15.8

: TOTAL POULTRY 6/ : 2009 : 1144 41219 104 42467 7452 880 34135 97.9 2010 Proj. Nov : 880 42233 99 43212 6989 908 35315 100.3

Dec : 880 42371 107 43358 7052 938 35368 100.5 2011 Proj. Nov : 908 42739 112 43759 7290 888 35581 100.2

Dec : 938 42789 116 43843 7285 898 35660 100.4

: RED MEAT & POULTRY : 2009 : 2451 90631 3735 96818 13498 1994 81326 210.6 2010 Proj. Nov : 1994 90774 3609 96377 13691 1954 80732 207.7

Dec : 1994 91319 3517 96830 13629 2021 81180 208.8 2011 Proj. Nov : 1954 91171 3723 96848 14255 1904 80689 206.0

Dec : 2021 91320 3642 96983 14280 1936 80767 206.2 =============================================================================== 1/ Total including farm production for red meats and, for poultry, federally inspected plus non-federally inspected, less condemnations. 2/ Pounds, retail-weight basis. 3/ Population source: Dept. of Commerce, Census Bureau. 4/ Carcass weight for red meats and certified ready-to-cook weight for poultry. 5/ Beef, pork, veal, lamb and mutton. 6/ Broilers, turkeys and mature chicken.

WASDE-489-33 December 2010

U.S. Egg Supply and Use ===============================================================================

: : : 2010 Projected : 2011 Projected

: : :-----------------:-----------------

Commodity : 2008 : 2009 : Nov : Dec : Nov : Dec =============================================================================== EGGS : Million dozen Supply :

Beginning stocks : 11.1 17.2 18.0 18.0 18.0 18.0

Production : 7501.0 7534.0 7607.0 7593.0 7635.0 7635.0

Imports : 14.6 11.0 12.4 12.7 12.0 12.0

Total supply : 7526.7 7562.2 7637.4 7623.7 7665.0 7665.0

: Use :

Exports : 206.3 242.2 244.3 251.6 237.0 237.0

Hatching use : 996.3 955.1 982.3 982.3 1010.0 1010.0

Ending stocks : 17.2 18.0 18.0 18.0 18.0 18.0

Disappearance :

Total : 6306.9 6346.9 6392.8 6371.8 6400.0 6400.0

Per capita (number) : 248.3 247.7 247.4 246.6 245.6 245.6 ===============================================================================

U.S. Milk Supply and Use ===============================================================================

: : : 2010 Projected : 2011 Projected

Commodity : : :-----------------:-----------------

: 2008 : 2009 : Nov : Dec : Nov : Dec ===============================================================================

: Billion pounds Milk : Production : 190.0 189.3 192.8 192.8 195.6 195.5

Farm use : 1.1 1.0 1.0 1.0 1.0 1.0

: Fat Basis Supply :

Beg. commercial stocks : 10.4 10.1 11.3 11.3 10.1 10.5

Marketings : 188.9 188.3 191.9 191.8 194.6 194.6

Imports : 5.3 5.6 4.6 4.3 4.1 4.1

Total cml. supply : 204.6 204.0 207.8 207.4 208.9 209.2

: Fat Basis Use :

Commercial Exports : 8.7 4.5 7.7 8.2 6.2 6.3

Ending commercial stks : 10.1 11.3 10.1 10.5 10.6 10.6

CCC net removals 1/ : 0.0 0.7 0.2 0.2 0.0 0.0

Commercial use 2/ : 185.7 187.3 189.7 188.5 192.1 192.3

: Skim-solids Basis Supply :

Beg. commercial stocks : 10.0 10.9 11.3 11.3 11.8 12.2

Marketings : 188.9 188.3 191.9 191.8 194.6 194.6

Imports : 7.0 5.5 5.1 5.1 4.9 4.9

Total cml. supply : 205.9 204.7 208.2 208.3 211.3 211.7

: Skim-solids Basis Use :

Commercial Exports : 26.6 22.4 29.8 31.3 29.5 30.0

Ending commercial stks : 10.9 11.3 11.8 12.2 11.5 11.5

CCC net removals 1/ : 1.3 2.9 0.0 0.0 0.0 0.0

Commercial use 2/ : 167.1 168.6 167.0 165.2 170.3 170.1

:

: Million pounds CCC product net removals 1/:

Butter : 0 30 8 8 0 0

Cheese : 0 3 0 0 0 0

Nonfat dry milk : 111 248 0 0 0 0

Dry whole milk : 0 0 0 0 0 0 =============================================================================== Note: Totals may not add due to rounding. 1/ Includes products exported under the Dairy Export Incentive Program. 2/ Domestic commercial use only. 2009 and 2010 adjusted for the Barter Program

WASDE-489-34 December 2010

U.S. Dairy Prices ===========================================================================

: : : 2010 Projected : 2011 Projected

: : :-----------------:-----------------

Commodity : 2008 : 2009 : Nov : Dec : Nov : Dec ===========================================================================

: Dollars per pound

: Product Prices 1/ : Cheese : 1.8958 1.2963 1.515- 1.515- 1.530- 1.535-

: 1.525 1.525 1.620 1.615

: Butter : 1.4352 1.2094 1.710- 1.685- 1.500- 1.485-

: 1.740 1.715 1.620 1.595

: Nonfat dry milk : 1.2257 0.9222 1.155- 1.160- 1.185- 1.200-

: 1.175 1.180 1.255 1.260

: Dry whey : 0.2500 0.2584 0.365- 0.365- 0.355- 0.365-

: 0.375 0.375 0.385 0.395

:

: Dollars per cwt Milk Prices 2/ : Class III : 17.44 11.36 14.35- 14.35- 14.40- 14.45-

: 14.45 14.45 15.30 15.25

: Class IV : 14.65 10.89 15.05- 15.00- 14.45- 14.50-

: 15.25 15.20 15.45 15.40

: All milk 3/ : 18.33 12.83 16.30- 16.25- 15.95- 15.90-

: 16.40 16.35 16.85 16.70

: =========================================================================== 1/ Simple average of monthly prices calculated by AMS from NASS weekly average dairy product prices for class price computations. 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-489-35 December 2010

Note: Tables on pages 35-37 present a 29-year record of the differences between the December projection and the final estimate. Using world wheat production as an example, changes between the December projection and the final estimate have averaged 4.1 million tons (0.7%) ranging from -10.2 to 6.1 million tons. The December projection has been below the estimate 20 times and above 9 times.

Reliability of December Projections ===============================================================================

:Differences between proj. & final estimate,1981/82-2009/10 1/ Commodity and :=============================================================

region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== WHEAT :Percent Million metric tons Number of years

Production :

World : 0.7 4.1 -10.2 6.1 20 9

U.S. : 0.3 0.2 -1.2 0.5 14 10

Foreign : 0.8 4.1 -10.3 6.3 20 9

Exports :

World : 4.0 4.8 -18.3 5.7 23 6

U.S. : 4.6 1.5 -3.9 3.4 16 13

Foreign : 5.6 4.8 -17.9 5.9 25 4

Domestic use :

World : 1.0 5.3 -13.0 16.7 18 11

U.S. : 5.1 1.6 -2.4 3.6 8 21

Foreign : 1.0 5.4 -16.1 15.8 20 9

Ending stocks :

World : 4.7 6.2 -17.4 6.1 21 8

U.S. : 8.4 1.8 -7.0 2.1 19 10

Foreign : 4.7 5.1 -16.5 9.7 20 9

: COARSE GRAINS 2/ :

Production :

World : 1.1 9.8 -23.6 6.9 20 9

U.S. : 1.0 2.5 -7.5 5.8 16 13

Foreign : 1.5 9.7 -26.2 7.6 19 10

Exports :

World : 4.4 4.7 -10.8 12.4 21 8

U.S. : 9.9 5.2 -11.6 12.4 12 17

Foreign : 9.8 5.2 -14.9 7.2 17 11

Domestic use :

World : 1.0 9.1 -19.4 22.8 17 12

U.S. : 2.8 5.3 -17.9 16.4 16 13

Foreign : 1.1 7.6 -14.3 22.7 18 11

Ending stocks :

World : 8.8 12.9 -30.3 17.5 23 6

U.S. : 15.9 7.7 -23.9 21.2 16 13

Foreign : 11.5 10.5 -31.8 8.3 23 6

: RICE, milled :

Production :

World : 1.7 6.0 -16.2 4.7 23 6

U.S. : 2.5 0.1 -0.4 0.5 15 12

Foreign : 1.7 6.0 -16.2 4.6 24 5

Exports :

World : 7.2 1.4 -6.1 1.9 22 7

U.S. : 6.2 0.2 -0.6 0.4 15 12

Foreign : 8.3 1.4 -6.0 1.5 20 9

Domestic use :

World : 1.1 3.6 -15.9 1.5 23 6

U.S. : 5.3 0.2 -0.4 0.4 15 14

Foreign : 1.1 3.6 -16.1 1.7 22 7

Ending stocks :

World : 8.5 4.3 -14.8 4.8 22 7

U.S. : 16.2 0.2 -0.6 0.8 15 14

Foreign : 8.9 4.3 -14.2 4.6 22 7 =============================================================================== 1/ Footnotes at end of table. CONTINUED

WASDE-489-36 December 2010

Reliability of December Projections (Continued) ===============================================================================

:Differences between proj. & final estimate,1981/82-2009/10 1/ Commodity and :=============================================================

region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== SOYBEANS :Percent Million metric tons Number of years

Production :

World : 3.0 4.9 -9.9 23.8 16 13

U.S. : 1.6 1.0 -2.7 2.1 12 17

Foreign : 5.2 4.8 -9.4 25.1 15 14

Exports :

World : 5.3 2.6 -13.1 11.5 17 12

U.S. : 7.8 1.9 -6.4 4.8 17 12

Foreign : 14.9 2.4 -8.7 11.4 15 14

Domestic use :

World : 2.5 3.7 -5.8 12.2 17 12

U.S. : 2.9 1.2 -3.6 3.1 19 10

Foreign : 3.1 3.2 -5.4 11.9 17 12

Ending stocks :

World : 13.2 3.7 -8.2 18.5 18 11

U.S. : 27.8 1.9 -2.8 5.6 8 21

Foreign : 16.5 3.5 -8.4 12.9 19 10

: COTTON : Million 480-pound bales

Production :

World : 2.4 2.2 -6.4 4.4 16 12

U.S. : 1.6 0.2 -0.5 0.8 15 13

Foreign : 2.8 2.2 -6.7 4.3 15 13

Exports :

World : 4.8 1.4 -4.1 3.6 17 12

U.S. : 11.0 0.9 -1.9 3.0 18 11

Foreign : 5.4 1.0 -3.3 4.1 15 13

Mill use :

World : 2.2 2.1 -6.0 5.5 16 13

U.S. : 4.3 0.3 -0.9 1.0 17 11

Foreign : 2.3 2.0 -5.5 4.9 17 12

Ending stocks :

World : 9.9 3.9 -9.3 9.4 16 13

U.S. : 22.1 1.1 -3.2 2.2 8 21

Foreign : 9.8 3.4 -8.6 8.9 19 10 =============================================================================== 1/ Final estimate for 1981/82-2009/10 is defined as the first November estimate following the marketing year. 2/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain.

WASDE-489-37 December 2010

Reliability of United States December Projections 1/ ===============================================================================

:Differences between proj. & final estimate,1981/82-2009/10 2/ Commodity and :=============================================================

region : Avg. : Avg. : Difference : Below final : Above final =============================================================================== CORN :Percent Million bushels Number of years

Production : 1.1 89 -250 210 16 12

Exports : 10.2 183 -450 408 12 17

Domestic use : 3.1 202 -574 535 19 10

Ending stocks : 18.5 301 -986 907 16 13

: SORGHUM :

Production : 2.5 15 -53 52 14 15

Exports : 12.0 27 -90 97 21 7

Domestic use : 8.8 35 -114 127 11 17

Ending stocks : 28.7 28 -104 82 12 17

: BARLEY :

Production : 0.9 4 -12 24 11 10

Exports : 22.2 10 -37 30 10 17

Domestic use : 5.3 18 -30 70 11 17

Ending stocks : 11.1 15 -39 28 19 9

: OATS :

Production : 0.7 2 -18 16 7 8

Exports : 42.3 1 -4 7 8 8

Domestic use : 3.3 12 -39 36 13 16

Ending stocks : 13.2 14 -46 52 19 10

:

: Thousand short tons SOYBEAN MEAL :

Production : 2.8 933 -2578 2379 18 11

Exports : 9.2 662 -1900 1300 16 13

Domestic use : 2.6 689 -1206 2293 16 13

Ending stocks : 26.0 63 -214 188 13 15

:

: Million pounds SOYBEAN OIL :

Production : 2.6 404 -1418 1142 19 10

Exports : 19.2 315 -1325 964 14 13

Domestic use : 2.9 418 -985 1761 17 12

Ending stocks : 16.4 294 -1051 708 18 11 -------------------------------------------------------------------------------

: ANIMAL PROD. 3/ : Million pounds

Beef : 3.1 777 -853 2311 18 9

Pork : 2.6 446 -1240 1592 15 12

Broilers : 1.4 357 -1137 516 16 11

Turkeys : 2.3 115 -408 307 17 10

:

: Million dozen

Eggs : 1.3 81 -149 175 17 10

:

: Billion pounds

Milk : 1.3 2.0 -6.1 5.7 14 13 =============================================================================== 1/ See pages 35 and 36 for record of reliability for U.S. wheat, rice, soybeans, and cotton. 2/ Final estimate for 1981/82-2009/10 is defined as the first November estimate following the marketing year. 3/ Calendar years 1983 thru 2009 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS.

To contact the reporter on this story: Terry Barrett in Washington at tbarrett1@bloomberg.net

To contact the editor responsible for this story: Alex Tanzi at atanzi@bloomberg.net

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