Grain: World Markets and Trade

Transcription

1 MMT United States Department of Agriculture Foreign Agricultural Service Grain: World Markets and Trade December 2017 Indonesia: Strong Wheat Imports Displace Other Grains Indonesia s drive for self-sufficiency is resulting in record wheat imports displacing imported rice and corn. The country s rise to the second-largest wheat importer has been spurred by growth not only for food but now also for feed, primarily supplied from Australia and Ukraine. Traditionally, growth in imports was for milling quality wheat, supporting surging flour use for instant noodles and bread. While rice selfsufficiency has nearly been achieved, it has been due to declining rice consumption in the face of affordable wheat-based alternatives more so than higher rice production. However, Indonesia s record forecast is driven even higher this year due to growing feed use. Import restrictions on corn have shrunk imports since 2014/15 turning feed mills to seek lower-priced feedstuffs. Wheat feed use has surged as a result of lower prices relative to domestic corn, in addition to feed use for the burgeoning poultry and aquaculture industries. As a result of ballooning imports, the government has placed restrictions on feed wheat to strengthen and expand domestic corn production. To surpass the feed wheat import restrictions, Indonesia has been importing lower-quality milling wheat to blend in feed rations (refer to the November Indonesia Grain and Feed Update). As Indonesia continues its quest for selfsufficiency in grains, feeders are likely to remain reactive and agile in this dynamic environment. Index (2010/11= 100) Wheat Imports Surge Corn Wheat Rice, Milled Note: Graph is indexed (base=100) to 2010/11 imports of the individual commodity Feed Consumption Grows Corn Wheat For subscription, click here to register: Approved by the World Agricultural Outlook Board - USDA

2 TABLE OF CONTENTS World Markets and Trade: Commentary and Current Data Wheat... 4 Rice Coarse Grains Historical Data Series for Selected Regions and Countries Endnotes to Grain: World Markets and Trade The Foreign Agricultural Service (FAS) updates its production, supply and distribution (PSD) database for cotton, oilseeds, and grains at 12:00 p.m. on the day the World Agricultural Supply and Demand Estimates (WASDE) report is released. This circular is released by 12:15 p.m. To download the tables in the publication, go to Production, Supply and Distribution Database (PSD Online): ( scroll down to Reports, and Click the plus sign [+] next to Grains. FAS Reports and Databases: Current World Markets and Trade and World Agricultural Production Reports: Archives World Markets and Trade and World Agricultural Production Reports: Production, Supply and Distribution Database (PSD Online): Global Agricultural Trade System (U.S. Exports and Imports): Export Sales Report: Global Agricultural Information Network (Agricultural Attaché Reports): Other USDA Reports: World Agricultural Supply and Demand Estimates (WASDE): Economic Research Service: National Agricultural Statistics Service: Foreign Agricultural Service/USDA 2 December 2017

3 All Grain Summary Comparison Million Metric Tons Wheat Rice, Milled Corn Marketing Year 2015/ / / / / /17 Production United States (Jun-May) Other World Total , ,044.8 Domestic Consumption United States (Jun-May) Other World Total , ,062.9 Ending Stocks United States (Jun-May) Other World Total TY Imports United States (Jun-May) Other World Total TY Exports United States (Jun-May) Other World Total Note: Consumption in this table has not been adjusted for differences in marketing year imports and exports and therefore differs from global totals shown elsewhere.marketing years for U.S. grains are: Wheat (Jun-May), Rice (Aug-Jul), Corn (Sep-Aug).'Marketing Year' column is germane for U.S. wheat only.

4 $/MT WHEAT: WORLD MARKETS AND TRADE OVERVIEW For, global production is raised this month to a record on larger crops for Canada and the European Union. Global trade is forecast up slightly from last month to a record. Imports are forecast higher for Brazil, China, Indonesia and Ukraine, but lower for Bangladesh and the European Union. Higher exports for Canada are partially offset by a lower forecast for the United States. The U.S. season-average farm price is unchanged at $4.60 per bushel. PRICES U.S. Daily FOB Export Bids HRW SRW SWW HRS Domestic: Overall, U.S. wheat prices for most classes were down slightly during the month of November on weak sales activity and abundant competitor supplies. Soft Red Winter (SRW) eased $5/ton to $182, while Hard Red Spring (HRS) declined $4/ton to $274, Soft White Winter (SWW) dropped $8/ton to $198. On the other hand, Hard Red Winter (HRW) rose at the beginning of the month supported by large sales to Iraq, but settled only $4/ton higher at $218 by the end of the month. U.S. winter wheat conditions worsened slightly during the month because of dry conditions in the Plains, but minimal price impact has been felt based on the early stage of the crop and the abundance of wheat in global markets. 4

5 MMT MMT FEATURES Middle East Wheat Imports Surge on Growing Consumption Consumption Outpaces Production Consumption Production Wheat consumption in the Middle East has grown by about 20 percent over the last decade. Production, on the other hand, has remained stagnant with Iran and Turkey representing more than 80 percent of the total. Expanding populations in Iran, Iraq, Saudi Arabia, and Yemen account for much of the consumption growth. Jordan and Lebanon have also shown a sharp increase in wheat consumption as millions of refugees from Syria have resettled in these nearby countries. Turkey s consumption has risen partly due to the presence of refugees, but this growth is mitigated by slightly declining per capita use. Based on this growing gap between supply and demand, imports are twice as large as a decade ago, with Saudi Arabia and Turkey accounting for half of the growth. Saudi Arabia is importing more as domestic production was phased out to conserve water. Turkey continues to import wheat even as domestic production grows. Under Turkey s Inward Processing Regime, wheat is imported duty-free to be milled and exported as flour. Turkey Wheat Exports Forecast at a Record Turkey s wheat exports are forecast at a record, spurred by a record crop. With exports more than tripling in the last decade, Turkey has become the world s leading flour exporter. Shipments to Asian countries, particularly Indonesia and the Philippines, have declined as governments placed tariffs on wheat flour to protect domestic millers. However, strong demand from nearby markets, particularly Iraq, Sudan, and Syria, has more than compensated for lower exports to Asian countries Turkey Wheat Exports (July-June) (Grain Equivalent) 5

6 MMT MMT Iraq Imports Rebounding to Highest Level in 5 Years Iraq Wheat Imports Iraq s production has trended higher in recent years, leading to lower imports. Wheat imports had increasingly come in the form of Turkish flour as grain imports dropped off. This shift was mainly due to conflict in northern regions, budgetary constraints on importing wheat for the Public Distribution System (PDS), and competitive pricing of Turkish flour Total Imports From U.S. * Imports from U.S. is based on Export Sales Data To-Date Composition of Iraq's Wheat Imports Grain Flour/Products Forecast However, Iraq s imports are forecast to rebound more than 40 percent from last year, partly because of the low quality of its crop. The United States has already sold at least 500,000 metric tons of Hard Red Winter wheat to Iraq, according to U.S. Export Sales data. This already represents the largest sales to Iraq in 6 years. In addition to grain purchases picking up in recent months, flour imports have also continued at a fast pace. Historically, the Grain Board of Iraq relied on public tendering to purchase wheat. Typically, the tenders listed Australia, Canada, and the United States as acceptable origins. In May 2017, Iraq s cabinet authorized the Ministry of Trade to make direct purchases. During the marketing year, the United States has already sold 150,000 tons of wheat to Iraq under the public tendering system in addition to robust direct sales. For more information about Iraq s wheat sector, see the October Iraq Grain and Feed Annual GAIN report. 6

7 TRADE CHANGES IN Selected Importers Bangladesh is cut 500,000 tons to 6.0 million due to slower-than-expected trade. Brazil is boosted 500,000 tons to 8.0 million with a smaller crop. China is up 500,000 tons to 3.5 million due to faster-than-expected trade. European Union is lowered 500,000 tons to 6.0 million on the slow pace of purchases and a larger crop. Indonesia is raised 1.0 million tons to 11.5 million due to higher wheat feeding. Selected Exporters Canada is boosted 1.0 million tons to 22.0 million with a larger-than-expected crop. European Union remains at 28.5 million in spite of a slow pace of shipments on the expectation of improved competitiveness later in the year. Russia is lifted 500,000 tons to 33.5 million on the strong pace of shipments. Ukraine is raised 500,000 tons to 17.0 million based on larger-than-expected trade. United States is cut 500,000 tons to 26.0 million on the slow pace of shipments and bumper Canadian exports. 7

8 World Wheat, Flour, and Products Trade July/June Year, Thousand Metric Tons 2013/ / / /17 Nov Dec TY Exports Argentina 1,675 4,200 8,750 12,275 12,500 12,500 Australia 18,339 16,575 15,780 22,061 19,000 19,000 Canada 22,156 24,883 22,119 20,256 21,000 22,000 European Union 32,032 35,455 34,686 27,311 28,500 28,500 Kazakhstan 8,000 5,507 7,600 7,250 7,500 7,500 Mexico 1,322 1,104 1,568 1,119 1,400 1,400 Russia 18,609 22,800 25,543 27,809 33,000 33,500 Serbia 1, ,043 1,100 1,100 Turkey 4,293 4,135 5,605 6,177 6,500 6,500 Ukraine 9,755 11,269 17,431 18,107 16,500 17,000 Others 13,571 12,356 10,234 9,364 8,659 8,764 Subtotal 130, , , , , ,764 United States 31,529 23,023 21,811 29,488 26,500 26,000 World Total 162, , , , , ,764 TY Imports Afghanistan 2,050 2,000 2,700 2,700 2,600 2,600 Algeria 7,484 7,257 8,153 8,414 8,200 8,200 Bangladesh 3,354 3,929 4,720 5,556 6,500 6,000 Brazil 7,061 5,869 5,922 7,788 7,500 8,000 China 6,773 1,926 3,476 4,410 3,000 3,500 Colombia 1,746 1,627 2,032 2,110 2,150 2,150 Egypt 10,150 11,300 11,925 11,236 12,000 12,000 European Union 3,976 5,979 6,916 5,275 6,500 6,000 India ,147 3,000 3,000 Indonesia 7,391 7,477 10,045 10,176 10,500 11,500 Iraq 3,246 2,253 2,218 2,447 3,500 3,500 Japan 6,123 5,878 5,715 5,911 5,800 5,800 Korea, South 4,288 3,942 4,420 4,667 4,600 4,600 Mexico 4,639 4,471 4,805 5,370 5,400 5,400 Morocco 3,928 4,086 4,503 5,191 4,800 4,800 Nigeria 4,580 4,244 4,410 4,972 5,100 5,100 Peru 2,114 1,907 1,799 2,020 2,150 2,150 Philippines 3,476 5,054 4,918 5,704 5,650 5,600 Saudi Arabia 3,441 3,499 2,931 3,716 3,800 3,800 Sudan 2,664 2,632 2,021 2,458 2,600 2,600 Thailand 1,759 3,492 4,872 3,689 3,000 3,000 Turkey 4,147 5,960 4,405 4,542 4,500 4,500 Uzbekistan 2,224 2,230 2,662 2,700 2,800 2,800 Vietnam 2,157 2,292 3,070 5,548 4,000 4,000 Yemen 3,425 3,245 3,332 3,278 3,400 3,400 Others 53,421 51,976 53,291 49,927 52,076 52,571 Subtotal 155, , , , , ,571 Unaccounted 2,055 3,113 3,391 3,011 2,933 3,093 United States 4,785 3,989 3,054 3,297 4,100 4,100 World Total 162, , , , , ,764 TY=Trade Year, see Endnotes.

9 World Wheat Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 2013/ / / /17 Nov Dec Production 17,500 17,500 18,400 11,300 13,930 10,500 Argentina 21,500 21,500 33,500 22,275 23,743 25,303 Australia 30,000 27,000 31,729 27,594 29,420 37,530 Canada 130, , , , , ,930 China 8,100 8,100 8,100 8,100 8,300 8,250 Egypt 152, , , , , ,583 European Union 98,380 98,380 87,000 86,530 95,850 93,506 India 15,000 15,000 15,500 15,000 13,000 14,500 Iran 14,000 14,000 14,985 13,748 12,996 13,941 Kazakhstan 6,250 6,250 2,731 8,064 5,116 6,934 Morocco 25,700 25,700 25,600 25,100 25,979 24,211 Pakistan 83,000 83,000 72,529 61,044 59,080 52,091 Russia 21,000 21,000 17,250 19,500 15,250 18,750 Turkey 26,500 26,500 26,800 27,274 24,750 22,278 Ukraine 7,200 7,200 7,200 7,200 7,150 6,800 Uzbekistan 51,205 51,985 55,350 55,743 55,357 55,880 Others 707, , , , , ,987 Subtotal 47,371 47,371 62,833 56,117 55,147 58,105 United States 755, , , , , ,092 World Total Total Consumption 10,450 10,450 10,350 10,250 10,050 9,850 Algeria 12,100 12,100 12,200 11,100 10,700 11,400 Brazil 8,700 8,100 10,400 7,924 9,096 9,395 Canada 116, , , , , ,500 China 19,700 19,700 19,400 19,200 19,100 18,500 Egypt 128, , , , , ,300 European Union 100, ,000 97,120 88,551 93,102 93,848 India 10,700 9,700 10,000 9,100 7,365 7,165 Indonesia 18,350 18,350 18,100 17,800 17,500 17,000 Iran 10,300 10,300 10,200 9,800 9,000 9,000 Morocco 24,800 24,800 24,500 24,400 24,500 24,100 Pakistan 44,000 44,000 40,000 37,000 35,500 34,100 Russia 17,900 17,900 17,400 18,000 17,500 17,750 Turkey 9,800 10,000 10,300 12,200 11,500 11,500 Ukraine 9,900 9,900 9,700 9,350 8,900 8,400 Uzbekistan 168, , , , , ,704 Others 711, , , , , ,710 Subtotal 30,917 30,917 31,751 31,942 31,328 34,260 United States 742, , , , , ,970 World Total Ending Stocks 6,635 5,265 6,835 5,178 7,101 10,398 Canada 127, , ,054 97,042 76,105 65,274 China 12,019 11,726 10,769 15,557 12,697 9,938 European Union 10,680 10,680 9,800 14,540 17,220 17,830 India 5,194 5,194 4,544 6,856 4,281 4,317 Morocco 4,662 4,662 4,332 3,829 3,710 2,191 Pakistan 16,830 17,330 10,830 5,607 6,287 5,177 Russia 58,509 59,968 65,031 66,277 69,885 63,586 Others 242, , , , , ,711 Subtotal 26,134 25,453 32,133 26,552 20,477 16,065 United States 268, , , , , ,776 World Total

10 Regional Wheat Imports, Production, Consumption, and Stocks Thousand Metric Tons 2013/ / / /17 Nov Dec TY Imports North America 9,839 9,004 8,378 9,177 10,000 10,000 Central America 1,833 1,834 1,834 1,993 2,010 2,025 South America 14,879 13,132 13,342 16,308 16,095 16,645 European Union ,976 5,979 6,916 5,275 6,500 6,000 Other Europe 1,858 1,760 1,828 1,970 1,860 1,860 Former Soviet Union ,528 7,678 7,402 7,358 7,960 7,960 Middle East 28,447 26,928 24,499 22,774 24,020 24,020 North Africa 25,246 25,430 27,873 28,334 28,350 28,350 Sub-Saharan Africa 20,405 20,963 22,865 22,215 23,980 24,265 East Asia 19,465 14,114 16,226 17,355 15,880 16,380 South Asia 6,722 8,164 8,823 15,469 13,271 12,771 Southeast Asia 17,176 20,576 25,483 27,763 25,910 26,950 Others 3,050 3,225 3,147 3,258 3,390 3,445 Total 160, , , , , ,671 Production North America 99,012 88,254 87,462 98,446 77,921 80,921 South America 19,803 24,581 21,601 28,646 25,188 24,538 European Union , , , , , ,500 Other Europe 4,228 4,088 4,359 4,749 4,235 4,235 Former Soviet Union , , , , , ,273 Middle East 41,708 35,414 42,905 39,791 42,675 42,615 North Africa 19,661 17,029 19,976 14,081 18,150 18,150 Sub-Saharan Africa 7,204 7,477 6,433 7,227 7,319 7,249 East Asia 123, , , , , ,454 South Asia 125, , , , , ,180 Oceania 25,716 24,157 22,689 33,918 21,920 21,920 Others Total 715, , , , , ,206 Domestic Consumption North America 50,305 47,274 46,866 50,051 46,717 47,317 South America 27,321 27,090 27,665 28,665 28,865 28,790 European Union , , , , , ,750 Other Europe 4,857 4,875 4,935 5,035 5,035 5,035 Former Soviet Union ,755 74,990 77,775 79,070 83,190 82,990 Middle East 58,764 58,357 60,110 60,436 62,290 62,190 North Africa 42,475 42,726 43,666 44,570 45,075 45,075 Sub-Saharan Africa 26,383 27,220 28,571 29,199 30,168 30,333 East Asia 130, , , , , ,615 South Asia 132, , , , , ,821 Southeast Asia 16,610 19,295 23,131 26,375 24,270 25,305 Oceania 8,280 8,564 8,505 9,140 8,420 8,420 Others 3,480 3,574 3,582 3,834 3,870 3,930 Total 690, , , , , ,571 Ending Stocks North America 26,782 28,101 32,241 39,714 31,314 33,365 South America 6,776 8,639 4,208 4,849 4,253 4,273 European Union ,938 12,697 15,557 10,769 11,726 12,019 Other Europe 1,009 1,321 1,598 1,962 1,767 1,767 Former Soviet Union ,832 20,662 16,770 21,114 27,187 26,322 Middle East 18,834 18,474 19,868 15,957 13,141 13,067 North Africa 14,045 13,216 16,628 13,922 14,662 14,662 Sub-Saharan Africa 2,844 3,036 3,213 2,561 2,915 2,907 East Asia 68,314 79, , , , ,064 South Asia 21,661 23,109 21,040 16,637 18,057 17,557 Southeast Asia 3,491 3,921 5,413 5,859 7,048 6,504 Oceania 4,826 4,925 4,080 7,271 4,456 4,461 Others Total 194, , , , , ,417 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

11 RICE: WORLD MARKETS AND TRADE OVERVIEW For, global production is raised this month on a record crop in China. Trade is forecast higher, though still slightly below the previous year s record. Larger imports are forecast for several African countries, while export prospects for Burma and Vietnam are raised from last month. Global stocks are raised, mostly on account of China, and are the third-largest on record. PRICES $/MT Weekly Price Quotes: Last 12 Months U.S. #2/4 (long-grain) THAI 100B VIETNAM 5% INDIA 5% PAKISTAN 5% URUGUAY 5% Uruguayuan export quotes have risen this past month to $545/ton, reflecting pre-harvest tightening supplies in the face of a smaller crop. This has caused South American quotes to edge closer to U.S. quotes, which have remained steady at $565/ton. Meanwhile, Asian quotes have diverged in the past month with Thai quotes rising to $413/ton, reflecting a stronger baht. Both Indian and Vietnamese quotes fell to $385/ton and $391/ton, respectively. Pakistan is quoted the lowest at $375/ton. 11

12 FEATURE MMT South America Paddy Exports Expand... MMT Challenging U.S. Paddy Export Dominance Total U.S. Rough Rice Exports Brazil Paraguay Uruguay Argentina Guyana Over 40 percent of U.S. rice exports (product weight basis) are paddy rice, which differs from world market trade as the top Asian exporters almost exclusively ship milled rice. This feature is attributable to two factors: U.S. milled rice prices tend to be higher than respective Asian prices, making it difficult for U.S. rice to compete in Asian markets; and the majority of U.S. rice flows to Western Hemisphere markets, many of which have mills that can easily process domestic and imported rice, as well as policies that support their milling industry. A decade ago, the United States had a near-monopoly of the paddy trade in the Western Hemisphere, with other regional suppliers as marginal actors. While the United States is still the primary paddy supplier, Brazil, Guyana, Uruguay, Paraguay, and Argentina are now adding greater competition. In 2011, abnormal growing conditions caused chalkiness in U.S. rice kernels, and some unsatisfied Central American buyers began to buy from South America, especially from Brazil. In 2014 as petroleum prices plummeted, Guyana s trade with its neighbor and primary buyer, Venezuela, abruptly dropped. Consequently, Guyana has been pressing into other paddy markets. Most notably, since July this year, Guyana has shipped over 50,000 tons to Mexico, accounting for 7 percent of paddy imports year-to-date. This is the top paddy rice market in the Western Hemisphere, and had been supplied exclusively by the United States. The newest emerging paddy exporter is land-locked Paraguay, where production has more than quadrupled over the past decade. Currently, its paddy exports are largely focused on supplying Brazil via border trade. In aggregate, these South American suppliers pose a new dynamic in paddy trade in the Americas, creating much fiercer competition for the paddy market that had previously been almost exclusively the U.S. domain. Further abroad, as Egypt s exports have dwindled, the United States has vied with Russia and the European Union for Mediterranean medium-grain paddy markets, particularly Turkey. 12

13 TRADE CHANGES IN 2018 Selected Importers Indonesia is lowered 200,000 tons to 300,000 on continued self-sufficiency targets and lower expected demand amid changes to the raskin program. Kenya is up 100,000 tons to 700,000 on prospects for growth in demand for Asian varieties. Liberia is raised 140,000 tons to 400,000 on rising demand for low-priced rice from India and China. Togo is lifted 100,000 tons to 300,000 on a growing appetite for imported rice from India and Thailand. Selected Exporters Burma is raised 400,000 tons to 3.0 million on expected strong trade to China and on diversification to additional markets. Vietnam is up 200,000 tons to 6.5 million on expectations of growth in shipments to China and other markets. TRADE CHANGES IN 2017 Selected Importers Bangladesh is raised 250,000 tons to 1.4 million on higher imports from India. Brazil is up 160,000 tons to 800,000 on a strong pace of trade and shipments from Guyana. Indonesia is down 200,000 tons to 300,000 on the lack of end-of-year government purchases, despite relatively low stocks. Liberia is up 100,000 tons to 370,000 on shipments from India and China. Selected Exporters Burma is raised 300,000 tons to 3.1 million on larger shipments to China, Africa, and the European Union. Cambodia is lowered 200,000 tons to 1.2 million reflecting delayed shipments to Bangladesh. India is up 200,000 tons to a record 11.6 million on strong sales to Bangladesh, Sri Lanka, Iran, and African countries. United States is lowered 100,000 tons to 3.4 million on a slower pace of shipments to date. Vietnam is up 400,000 tons to 6.6 million on large shipments not only to China but also to Southeast Asia, Africa, and the Middle East. 13

14 World Rice Trade January/December Year, Thousand Metric Tons 2013/ / / /17 Nov Dec TY Exports Argentina Australia Brazil Burma 1,688 1,735 1,300 3,100 2,600 3,000 Cambodia 1,000 1,150 1,150 1,150 1,250 1,250 China ,100 1,100 1,100 European Union Guyana India 11,588 11,046 10,040 11,600 11,600 11,600 Pakistan 3,700 4,000 4,000 3,600 3,800 3,800 Paraguay Russia Thailand 10,969 9,779 9,867 11,000 10,200 10,200 Uruguay , Vietnam 6,325 6,606 5,088 6,600 6,300 6,500 Others 1,509 1,173 1,134 1,026 1,057 1,057 Subtotal 41,176 39,268 36,732 42,896 41,652 42,142 United States 2,947 3,381 3,373 3,400 3,450 3,400 World Total 44,123 42,649 40,105 46,296 45,102 45,542 TY Imports Angola Bangladesh 1, ,350 1,200 1,200 Benin Brazil Cameroon China 4,450 5,150 4,600 5,300 5,250 5,250 Cote d'ivoire 950 1,150 1,300 1,350 1,500 1,500 Cuba European Union 1,556 1,786 1,816 1,875 1,900 1,900 Ghana Guinea Iran 1,400 1,300 1,100 1,600 1,300 1,300 Iraq 1,080 1, ,050 1,100 1,100 Japan Kenya Malaysia 989 1, , Mexico Mozambique Nepal Nigeria 3,200 2,100 2,100 2,500 2,300 2,300 Philippines 1,800 2, ,100 1,700 1,700 Saudi Arabia 1,459 1,601 1,300 1,400 1,450 1,450 Senegal ,000 1,050 1,050 South Africa , United Arab Emirates Others 13,402 12,974 12,271 13,383 12,937 13,147 Subtotal 40,403 39,442 36,850 42,438 41,927 42,362 Unaccounted 2,965 2,450 2,487 3,098 2,415 2,420 United States World Total 44,123 42,649 40,105 46,296 45,102 45,542 TY=Trade Year, see Endnotes. Note about dates: is calendar year 2018, 2016/17 is calendar year 2017, and so on.

15 World Rice Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 2013/ / / /17 Nov Dec Milled Production Bangladesh 34,390 34,500 34,500 34,578 33,000 33,000 Brazil 8,300 8,465 7,210 8,383 7,820 7,820 Burma 11,957 12,600 12,160 12,650 12,600 12,950 Cambodia 4,725 4,700 4,847 4,950 5,000 5,000 China 142, , , , , ,000 Egypt 4,750 4,530 4,000 4,800 4,300 4,300 India 106, , , , , ,500 Indonesia 36,300 35,560 36,200 37,150 37,000 37,000 Japan 7,931 7,849 7,670 7,780 7,600 7,600 Korea, South 4,230 4,241 4,327 4,197 3,900 3,972 Nigeria 3,038 3,465 3,528 3,654 3,654 3,654 Pakistan 6,798 6,900 6,800 6,850 6,900 6,900 Philippines 11,858 11,915 11,000 11,686 11,200 11,200 Thailand 20,460 18,750 15,800 19,200 20,400 20,400 Vietnam 28,161 28,166 27,584 27,550 28,450 28,450 Others 40,349 40,367 40,635 41,185 42,207 42,059 Subtotal 472, , , , , ,805 United States 6,117 7,106 6,133 7,117 5,664 5,664 World Total 478, , , , , ,469 Consumption and Residual Bangladesh 34,900 35,100 35,100 35,000 34,800 35,000 Brazil 7,900 7,925 7,900 8,100 7,950 7,950 Burma 10,450 10,500 10,400 10,200 10,200 10,200 Cambodia 3,650 3,615 3,700 3,750 3,750 3,750 China 139, , , , , ,150 Egypt 4,000 4,000 3,900 4,300 4,400 4,400 India 98,727 98,244 93,568 96,781 98,000 98,000 Indonesia 38,500 38,300 37,800 37,500 37,400 37,300 Japan 8,380 8,600 8,600 8,500 8,450 8,450 Korea, South 4,422 4,197 4,212 4,728 4,650 4,800 Nepal 3,831 3,770 3,353 3,754 3,850 3,850 Nigeria 5,800 5,900 6,000 6,100 6,200 6,200 Philippines 12,850 13,000 12,900 12,900 12,900 12,900 Thailand 10,600 10,000 9,100 12,000 11,500 11,500 Vietnam 22,000 22,000 22,500 21,800 22,300 22,100 Others 61,180 61,694 62,414 65,321 66,633 67,087 Subtotal 471, , , , , ,103 United States 3,978 4,284 3,580 4,171 3,652 3,652 World Total 475, , , , , ,755 Ending Stocks China 60,500 69,000 78,500 86,500 92,500 94,500 Egypt ,474 1,324 1,324 India 22,800 17,800 18,400 20,550 18,450 18,450 Indonesia 5,501 4,111 3,509 3,439 3,619 3,419 Japan 3,007 2,821 2,552 2,462 2,237 2,237 Philippines 1,695 2,410 2,110 1,996 1,996 1,996 Thailand 11,999 11,270 8,403 4,853 3,803 3,803 Others 14,890 17,881 16,738 15,275 14,060 14,014 Subtotal 121, , , , , ,743 United States 1,025 1,552 1,475 1, World Total 122, , , , , ,725 Note: All data are reported on a milled basis.

16 Regional Rice Imports, Production, Consumption, and Stocks Thousand Metric Tons 2013/ / / /17 Nov Dec TY Imports North America 1,801 1,838 1,855 1,980 1,980 1,980 Caribbean 911 1,174 1,135 1,245 1,235 1,235 South America 1,814 1,686 2,014 1,881 1,656 1,656 Other Europe Former Soviet Union Middle East 6,711 6,464 5,716 6,695 6,605 6,605 North Africa Sub-Saharan Africa 12,658 11,355 12,129 13,915 13,750 14,280 East Asia 6,044 6,686 6,097 6,946 6,896 6,896 South Asia 2,576 1, ,110 2,600 2,600 Southeast Asia 5,023 5,677 3,883 3,430 4,155 3,955 Others 2,392 2,531 2,768 2,725 2,700 2,735 Total 41,158 40,199 37,618 43,198 42,687 43,122 Production North America 6,248 7,285 6,289 7,294 5,849 5,849 Caribbean 1, South America 16,354 16,550 15,391 16,558 16,357 16,280 European Union ,937 1,954 2,050 2,068 2,083 2,090 Former Soviet Union ,205 1,185 1,262 1,261 1,247 1,222 Middle East 2,417 2,245 2,392 2,455 2,475 2,475 North Africa 4,776 4,553 4,044 4,837 4,340 4,340 Sub-Saharan Africa 14,387 15,193 15,701 16,397 16,025 16,025 East Asia 157, , , , , ,266 South Asia 154, , , , , ,875 Southeast Asia 116, , , , , ,821 Others 1,339 1, ,303 1,346 1,293 Total 478, , , , , ,469 Domestic Consumption North America 5,217 5,522 4,814 5,447 4,932 4,942 Central America 1,195 1,199 1,301 1,316 1,321 1,342 Caribbean 1,992 2,051 2,004 2,084 2,203 2,203 South America 14,578 14,738 14,782 14,990 15,130 15,133 European Union ,250 3,400 3,550 3,650 3,750 3,750 Former Soviet Union ,605 1,507 1,508 1,599 1,572 1,582 Middle East 9,140 9,000 8,562 8,928 9,215 9,215 North Africa 4,452 4,407 4,279 4,774 4,825 4,875 Sub-Saharan Africa 26,514 27,141 27,701 29,427 29,746 30,096 East Asia 156, , , , , ,515 South Asia 143, , , , , ,075 Southeast Asia 102, , , , , ,976 Others Total 470, , , , , ,289 Ending Stocks North America 1,184 1,717 1,602 1,633 1,146 1,178 Central America Caribbean South America 1,819 2,187 1,579 1,761 1,541 1,655 European Union ,163 1,151 1,183 1,115 1,083 1,075 Middle East 1,777 1,742 1,134 1,299 1,114 1,114 North Africa ,474 1,324 1,324 Sub-Saharan Africa 3,001 3,215 2,737 2,709 2,448 2,493 East Asia 64,694 73,483 83,126 90,966 96,494 98,381 South Asia 24,920 21,428 21,571 23,076 21,021 20,871 Southeast Asia 21,976 21,060 18,008 13,099 11,954 11,804 Oceania Others Total 122, , , , , ,725 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

17 $/MT COARSE GRAINS: WORLD MARKETS AND TRADE OVERVIEW There are few changes this month for the global corn use. Corn production is up marginally with gains for China, the European Union, Laos, and Guatemala more than offsetting a reduction for Russia. Global corn trade is mostly unchanged. The U.S. season-average farm price remains unchanged at $3.20 per bushel. PRICES 200 Corn Daily FOB Export Bids Argentina Up River Black Sea Brazil Paranagua US Gulf Global corn prices trended upward from last month s WASDE mainly amid weather concerns and seasonality. Argentine bids surged $10/ton to $156 and Brazilian bids were up $5/ton to $161 with tight nearby supplies. Black Sea bids were unchanged at $164. U.S. quotes dropped slightly ($1/ton) to $

18 FEATURE U.S. Sorghum Sales Bode Well for Exports U.S. Sorghum Sales Booked as of the end of November year ago 2 years ago 3 years ago China Others 4 years ago 5 years ago Million Metric Tons From September to November in, U.S. sorghum sales totaled about 2.0 million tons or one-third of the export forecast reflecting strong overseas demand. Sales to reported destinations are up substantially from a year ago, driven by China, while sales to Others are mainly comprised of undeclared destinations and are up modestly from last year. Most U.S. sorghum is destined to feed-deficit southern China, where animal production is concentrated and feed demand runs high. The uptick in sales indicates a need for competitivelypriced alternative feedstuffs as domestic corn prices, in both the surplus North and deficit South, remain higher than world market prices. Unlike corn, sorghum imports are neither subject to tariff-rate quotas, nor have any biotech varieties. Meanwhile, the uptick in sales leaves little room in the U.S. sorghum balance sheet with the forecast of tight ending stocks. In March, the USDA Prospective Plantings report will give an indication of how U.S. producers will respond to these market dynamics. TRADE CHANGES IN Selected Exporters U.S. sorghum is boosted sharply by 1.3 million tons to 6.7 million on strong sales and shipments primarily to China. Accordingly, China s sorghum imports are raised 1.3 million tons to 6.3 million. 18

19 EU corn is raised 500,000 tons to 2.0 million on expectations for Romania to replace Russia s trade to Vietnam, Turkey, and Lebanon. Russia corn is cut 500,000 tons to 5.0 million on lower production based on reported harvest results to date. Selected Importers Brazil corn is up 400,000 tons to 700,000 reflecting strong imports during October and November from Paraguay to southern Brazil. 19

20 World Coarse Grain Trade October/September Year, Thousand Metric Tons 2013/ / / /17 Nov Dec TY Exports Argentina 16,630 21,003 25,290 26,105 29,305 29,305 Australia 7,004 7,286 6,389 10,273 6,725 6,725 Brazil 22,059 21,954 35,415 19,800 36,015 36,015 Canada 5,482 3,604 4,693 4,997 4,750 4,750 European Union 7,841 15,068 10,975 8,174 8,005 8,505 Mexico ,559 1,539 1,300 1,300 Paraguay 2,718 3,031 2,677 1,772 2,515 2,515 Russia 7,074 9,155 8,465 9,261 10,360 9,860 South Africa 2, ,135 1,910 1,910 Ukraine 24,125 24,208 21,457 26,868 25,310 25,410 Others 13,004 10,589 7,906 8,894 6,660 6,670 Subtotal 108, , , , , ,965 United States 56,776 56,419 59,230 61,798 54,115 55,365 World Total 165, , , , , ,330 TY Imports Algeria 4,946 4,863 5,224 4,675 5,425 5,425 Bangladesh ,042 1,176 1,100 1,100 Brazil 1,184 1,023 2,121 3, ,350 Chile 1,621 1,707 1,744 1,538 2,220 2,180 China 12,445 25,699 17,499 16,055 14,700 16,000 Colombia 4,795 4,747 4,824 5,034 5,335 5,335 Dominican Republic 1,011 1,202 1,351 1,294 1,400 1,400 Egypt 8,840 7,938 8,795 8,792 10,100 10,100 European Union 16,355 9,408 14,287 15,909 16,555 16,705 Iran 6,600 8,000 8,300 9,900 11,300 11,300 Israel 2,072 1,601 1,505 1,925 1,795 1,785 Japan 17,501 16,726 17,070 16,999 16,720 16,720 Jordan 1,443 1,448 1,713 1,588 1,700 1,700 Kenya ,106 1,300 1,300 Korea, South 10,499 10,245 10,192 9,296 9,770 9,770 Libya 1,493 1,685 1,905 2,125 2,100 2,100 Malaysia 3,485 3,221 4,080 3,528 4,000 4,000 Mexico 11,312 11,640 14,881 15,238 16,900 16,900 Morocco 2,858 2,217 3,182 2,526 3,000 3,000 Peru 2,336 2,863 3,083 3,359 3,420 3,420 Saudi Arabia 11,332 11,115 13,992 12,930 13,010 13,010 Taiwan 4,346 3,938 4,781 4,267 4,600 4,600 Tunisia 1,449 1,525 1,713 1,745 1,900 1,900 Venezuela 2,627 2,433 1,738 1,240 1,600 1,600 Vietnam 4,300 6,700 8,600 8,500 9,500 9,500 Others 20,298 22,869 22,190 21,912 18,776 18,656 Subtotal 156, , , , , ,856 Unaccounted 5,939 4,563 4,718 2,361 4,244 3,874 United States 3,323 3,296 3,981 3,422 3,550 3,600 World Total 165, , , , , ,330 TY=Trade Year, see Endnotes.

21 World Coarse Grains Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 2013/ / / /17 Nov Dec Production 49,004 49,004 48,569 38,439 36,782 35,665 Argentina 11,496 11,426 16,884 12,544 12,605 12,158 Australia 97,786 97, ,575 68,649 87,671 82,634 Brazil 26,205 25,555 25,794 25,619 21,992 28,745 Canada 223, , , , , ,062 China 13,035 13,035 12,700 13,035 14,442 13,078 Ethiopia 150, , , , , ,212 European Union 42,240 42,240 44,350 38,701 43,076 43,216 India 11,350 11,350 10,900 10,500 9,000 9,100 Indonesia 31,625 31,625 33,315 32,378 32,689 32,065 Mexico 18,850 18,850 19,335 16,681 18,917 14,633 Nigeria 42,300 43,300 40,765 37,427 40,386 35,735 Russia 12,963 12,948 18,037 8,675 11,110 15,518 South Africa 13,043 13,043 10,893 14,243 9,393 13,074 Turkey 34,990 34,990 39,255 33,387 39,389 40,022 Ukraine 160, , , , , ,261 Others 940, , , , , ,178 Subtotal 383, , , , , ,089 United States 1,323,916 1,322,551 1,366,320 1,260,231 1,312,343 1,283,267 World Total Domestic Consumption 17,384 17,384 16,234 14,321 14,232 13,695 Argentina 64,892 64,750 64,032 59,823 60,009 58,053 Brazil 23,245 22,945 21,652 21,251 21,290 22,345 Canada 261, , , , , ,196 China 16,858 16,858 16,027 15,803 14,832 14,122 Egypt 160, , , , , ,401 European Union 43,550 43,550 43,000 40,170 40,450 37,600 India 17,720 17,720 15,620 13,820 12,020 11,320 Iran 17,062 17,062 17,246 17,257 16,874 17,570 Japan 48,190 48,190 46,895 44,715 42,175 40,935 Mexico 19,150 19,150 19,530 16,641 18,776 14,668 Nigeria 32,600 32,800 32,125 29,715 31,139 28,219 Russia 14,605 14,605 13,425 14,105 11,905 11,411 Saudi Arabia 13,518 13,518 13,093 14,093 13,023 13,414 Turkey 13,400 13,400 12,900 12,200 9,400 8,200 Vietnam 255, , , , , ,110 Others 1,024,793 1,023,107 1,028, , , ,155 Subtotal 329, , , , , ,044 United States 1,354,075 1,352,389 1,356,329 1,254,946 1,276,806 1,236,199 World Total Ending Stocks 7,332 7,336 6,912 3,179 4,274 3,169 Argentina 9,765 9,413 10,036 7,008 8,235 14,265 Brazil 4,184 3,875 4,914 4,643 3,334 4,648 Canada 80,965 80, , , ,917 82,544 China 14,014 13,589 15,119 15,452 18,885 15,565 European Union 6,354 6,354 7,114 7,174 7,134 5,094 Iran 5,046 5,216 6,011 5,889 4,832 3,487 Mexico 40,346 40,473 47,586 48,899 51,563 48,500 Others 168, , , , , ,272 Subtotal 64,233 65,452 62,212 48,112 46,948 34,313 United States 232, , , , , ,585 World Total

22 Regional Coarse Grains Imports, Production, Consumption, and Stocks Thousand Metric Tons 2013/ / / /17 Nov Dec TY Imports North America 15,349 16,649 19,953 19,579 21,510 21,560 Central America 2,923 3,456 3,938 3,799 4,100 4,000 Caribbean 2,330 2,444 2,597 2,659 2,840 2,840 South America 13,180 13,355 13,876 14,968 14,300 14,660 European Union ,355 9,408 14,287 15,909 16,555 16,705 Former Soviet Union Middle East 26,241 27,608 29,730 31,469 31,785 31,775 North Africa 19,586 18,228 20,819 19,863 22,525 22,525 Sub-Saharan Africa 3,134 4,169 6,133 6,650 4,260 4,240 East Asia 44,865 56,655 49,576 46,709 45,840 47,140 Southeast Asia 12,814 14,719 15,757 13,944 15,115 15,115 Others 1,819 1,872 2,888 2,878 3,176 3,176 Total 159, , , , , ,456 Production North America 427, , , , , ,202 South America 133, , , , , ,627 European Union , , , , , ,795 Other Europe 8,992 10,927 9,271 11,328 7,337 7,337 Former Soviet Union ,859 91,821 82,551 92,187 90,849 89,849 Middle East 22,274 17,931 23,165 19,700 21,756 21,681 North Africa 11,581 10,927 12,289 9,263 10,807 10,807 Sub-Saharan Africa 101, ,183 98, , , ,558 East Asia 227, , , , , ,503 South Asia 54,221 54,182 50,176 56,411 54,774 54,774 Southeast Asia 31,006 30,949 31,992 33,991 34,583 34,808 Oceania 12,794 13,283 13,236 17,459 11,996 12,066 Others 5,028 4,727 4,361 4,908 4,699 4,909 Total 1,283,267 1,312,343 1,260,231 1,366,320 1,322,551 1,323,916 Domestic Consumption North America 368, , , , , ,717 South America 95,335 98,567 98, , , ,045 European Union , , , , , ,100 Other Europe 7,803 8,347 8,651 8,917 8,047 8,047 Former Soviet Union ,361 58,273 53,430 55,914 55,844 55,524 Middle East 45,989 45,620 51,726 51,783 55,074 54,989 North Africa 28,059 30,168 32,142 31,408 33,183 33,183 Sub-Saharan Africa 100, , , , , ,091 East Asia 257, , , , , ,300 South Asia 48,965 52,095 53,185 56,500 57,704 57,704 Southeast Asia 39,043 41,183 43,943 45,857 46,600 46,900 Oceania 5,754 5,846 6,429 6,479 6,111 6,131 Others 10,042 10,307 10,866 11,296 11,536 11,686 Total 1,228,303 1,260,408 1,272,680 1,328,261 1,346,805 1,348,417 Ending Stocks North America 42,448 55,114 58,644 73,137 74,543 73,463 South America 21,527 15,967 14,652 20,591 20,150 20,503 European Union ,565 18,885 15,452 15,119 13,589 14,014 Other Europe 818 1, , Former Soviet Union ,399 7,916 6,246 6,703 5,824 5,478 Middle East 11,819 12,617 14,302 13,451 11,630 11,673 North Africa 5,703 5,412 5,875 3,691 4,059 3,830 Sub-Saharan Africa 9,321 12,192 9,011 10,022 8,748 8,649 East Asia 86, , , ,720 84,128 84,983 South Asia 4,025 5,187 3,156 4,305 2,879 2,901 Southeast Asia 4,324 4,149 5,021 3,830 3,134 3,428 Oceania 1,119 1,639 1,594 2,036 1,040 1,091 Others 961 1,123 1,134 1,194 1,069 1,237 Total 211, , , , , ,239 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

23 World Corn Trade October/September Year, Thousand Metric Tons 2013/ / / /17 Nov Dec TY Exports 27,000 27,000 22,951 21,678 18,448 12,846 Argentina 36,000 36,000 19,794 35,382 21,909 22,041 Brazil 1,200 1,200 1,100 1,000 1,250 1,100 Burma 1,300 1,300 1,538 1, ,939 Canada 2,000 1,500 2,171 1,949 4,027 2,404 European Union 1,300 1,300 1,539 1, Mexico 2,500 2,500 1,757 2,662 3,012 2,714 Paraguay 5,000 5,500 5,589 4,691 3,213 4,194 Russia 1,900 1,900 2, ,104 South Africa 20,500 20,500 21,334 16,595 19,661 20,004 Ukraine 4,215 4,215 6,223 5,666 8,114 10,292 Others 102, ,915 86,106 93,708 81,559 80,139 Subtotal 48,500 48,500 55,535 51,156 46,831 50,691 United States 151, , , , , ,830 World Total TY Imports 4,700 4,700 4,000 4,329 4,116 4,156 Algeria 1,100 1,100 1,176 1, Bangladesh 1,000 1, , Canada 2,000 2,000 1,484 1,539 1,516 1,456 Chile 3,000 3,000 2,464 3,174 5,516 3,277 China 5,000 5,000 4,748 4,458 4,496 4,436 Colombia 1,000 1, Cuba 1,400 1,400 1,294 1,351 1,202 1,011 Dominican Republic 10,000 10,000 8,773 8,722 7,839 8,791 Egypt 16,000 16,000 15,249 13,794 8,908 16,014 European Union 1,000 1, , Guatemala 10,000 10,000 8,500 6,600 6,100 5,500 Iran 1,400 1,400 1,515 1,152 1,294 1,651 Israel 15,000 15,000 15,169 15,201 14,657 15,121 Japan 1,200 1, Kenya 9,700 9,700 9,231 10,121 10,168 10,406 Korea, South 4,000 4,000 3,528 4,080 3,221 3,485 Malaysia 16,500 16,500 14,569 14,011 11,341 10,949 Mexico 2,500 2,500 2,164 2,224 1,941 2,349 Morocco 3,300 3,300 3,169 2,985 2,741 2,232 Peru 4,500 4,500 3,420 3,583 2,904 2,684 Saudi Arabia 4,500 4,500 4,163 4,656 3,810 4,179 Taiwan 1,300 1,300 1,244 1,017 1, Tunisia 1,600 1,600 1,238 1,738 2,433 2,626 Venezuela 9,500 9,500 8,500 8,600 6,700 4,300 Vietnam 15,435 15,035 19,493 19,178 18,490 16,863 Others 146, , , , , ,690 Subtotal 3,480 3,780 1,382 6,498 2,761 4,413 Unaccounted 1,300 1,300 1,450 1, United States 151, , , , , ,830 World Total TY=Trade Year, see Endnotes.

24 World Corn Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 2013/ / / /17 Nov Dec Production Argentina 26,000 29,750 29,500 41,000 42,000 42,000 Brazil 80,000 85,000 67,000 98,500 95,000 95,000 Canada 14,194 11,487 13,559 13,193 14,100 14,100 China 218, , , , , ,891 Egypt 5,800 5,960 6,000 6,000 6,000 6,000 Ethiopia 6,492 7,235 6,800 6,350 6,500 6,500 European Union 64,931 75,734 58,748 61,453 59,585 60,091 India 24,259 24,170 22,570 26,260 25,000 25,000 Indonesia 9,100 9,000 10,500 10,900 11,350 11,350 Mexico 22,880 25,480 25,971 27,565 26,200 26,200 Nigeria 8,423 10,791 9,540 10,755 10,500 10,500 Philippines 7,532 7,671 6,970 8,087 8,300 8,300 Russia 11,635 11,325 13,168 15,305 15,000 14,000 South Africa 14,925 10,629 8,214 17,475 12,500 12,500 Ukraine 30,900 28,450 23,333 28,000 25,000 25,000 Others 99, , , , , ,034 Subtotal 644, , , , , ,466 United States 351, , , , , ,286 World Total 996,150 1,023, ,452 1,075,550 1,043,900 1,044,752 Total Consumption Argentina 8,800 9,300 9,300 11,200 12,500 12,500 Brazil 55,000 57,000 57,500 60,500 61,500 61,500 Canada 12,675 12,820 12,381 12,700 14,000 14,000 China 208, , , , , ,000 Egypt 13,200 13,900 14,850 15,100 15,900 15,900 European Union 76,796 77,880 73,500 73,700 74,700 74,800 India 19,600 22,350 23,550 25,000 25,800 25,800 Indonesia 11,900 12,200 12,100 12,300 12,200 12,200 Iran 6,800 7,400 8,800 10,800 13,100 13,100 Japan 15,000 14,600 15,200 15,200 15,100 15,100 Korea, South 9,891 10,250 10,123 9,410 9,800 9,800 Mexico 31,700 34,550 37,300 40,400 42,300 42,300 Nigeria 8,500 10,700 9,600 11,050 10,900 10,900 South Africa 11,500 11,650 10,970 13,125 11,700 11,700 Vietnam 8,200 9,400 12,200 12,900 13,400 13,400 Others 157, , , , , ,837 Subtotal 661, , , , , ,974 United States 292, , , , , ,039 World Total 954, , ,285 1,063,119 1,066,623 1,068,013 Ending Stocks Argentina 1,408 2,898 1,459 5,762 6,271 6,267 Brazil 13,972 7,842 6,769 9,569 9,069 9,369 China 81, , , ,715 78,665 79,556 European Union 6,891 9,626 6,719 7,550 6,473 6,841 Iran 4,476 5,716 6,056 6,296 5,736 5,736 Mexico 2,603 4,090 5,213 5,408 4,678 4,508 South Africa 2,198 2,448 1,096 2,996 2,196 2,196 Others 30,116 32,674 32,698 30,747 27,587 27,689 Subtotal 142, , , , , ,162 United States 31,292 43,974 44,123 58,295 63,185 61,915 World Total 174, , , , , ,077

25 Regional Corn Imports, Production, Consumption, and Stocks Thousand Metric Tons 2013/ / / /17 Nov Dec TY Imports North America 12,354 13,686 16,742 16,846 18,800 18,800 Central America 2,922 3,456 3,938 3,799 4,100 4,000 South America 12,025 12,042 12,462 13,609 12,870 13,270 European Union ,014 8,908 13,794 15,249 16,000 16,000 Former Soviet Union Middle East 13,438 15,157 14,886 17,714 20,000 20,000 North Africa 17,101 15,622 16,873 16,881 19,300 19,300 Sub-Saharan Africa 2,488 3,323 5,408 5,876 3,380 3,380 East Asia 33,057 34,198 33,186 31,119 32,250 32,250 Southeast Asia 12,768 14,705 15,741 13,927 15,100 15,100 Caribbean 2,330 2,444 2,597 2,657 2,840 2,840 Others 1,468 1,588 2,378 2,208 2,550 2,550 Total 126, , , , , ,935 Production North America 388, , , , , ,586 South America 118, , , , , ,181 European Union ,931 75,734 58,748 61,453 59,585 60,091 Other Europe 7,297 9,132 7,427 9,407 5,484 5,484 Former Soviet Union ,034 43,951 39,872 47,299 44,250 43,250 Middle East 8,763 7,785 9,213 8,587 9,128 9,128 North Africa 5,919 6,058 6,096 6,130 6,201 6,201 Sub-Saharan Africa 64,995 67,271 60,982 69,293 67,769 67,769 East Asia 220, , , , , ,150 South Asia 34,100 34,100 32,861 37,063 36,286 36,286 Central America 3,878 3,588 3,278 3,789 3,600 3,810 Southeast Asia 30,724 30,655 31,697 33,701 34,293 34,518 Others 1,321 1,453 1,280 1,411 1,278 1,298 Total 996,150 1,023, ,452 1,075,550 1,043,900 1,044,752 Domestic Consumption North America 337, , , , , ,339 South America 84,206 87,426 88,171 91,908 95,405 95,405 European Union ,796 77,880 73,500 73,700 74,700 74,800 Other Europe 5,897 6,297 6,622 6,878 5,995 5,995 Former Soviet Union ,755 20,807 19,325 19,984 19,160 18,660 Middle East 19,966 21,738 23,502 25,978 29,480 29,480 North Africa 20,800 22,100 22,990 23,420 25,200 25,200 Sub-Saharan Africa 63,399 67,580 66,127 68,992 69,332 69,282 East Asia 239, , , , , ,650 South Asia 29,782 32,773 35,140 37,190 38,590 38,590 Southeast Asia 38,754 40,849 43,634 45,547 46,300 46,600 Central America 6,625 6,760 7,180 7,520 7,590 7,740 Others 3,581 3,984 3,909 4,037 4,115 4,135 Total 948, , ,845 1,035,132 1,061,586 1,062,876 Ending Stocks North America 35,495 49,466 51,549 65,744 69,741 68,264 South America 19,028 13,813 12,332 18,620 18,408 18,761 European Union ,891 9,626 6,719 7,550 6,473 6,841 Other Europe , Former Soviet Union ,684 3,164 2,593 3,105 2,418 2,380 Middle East 5,970 7,050 7,492 7,553 7,114 7,106 North Africa 3,175 3,259 2,988 2,446 2,955 2,737 Sub-Saharan Africa 7,358 9,349 7,046 8,088 7,129 7,045 East Asia 84, , , ,558 82,404 83,258 South Asia 2,937 3,834 2,444 3,133 2,104 2,104 Southeast Asia 4,318 4,143 5,015 3,830 3,134 3,428 Central America Others Total 174, , , , , ,077 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

26 World Barley Trade October/September Year, Thousand Metric Tons 2013/ / / /17 Nov Dec TY Exports Argentina 2,829 1,599 2,836 2,696 1,700 1,700 Australia 6,261 5,266 5,401 9,193 5,800 5,800 Canada 1,714 1,386 1,147 1,770 1,500 1,500 European Union 4,926 10,642 8,644 5,683 6,200 6,200 Kazakhstan Moldova Russia 2,791 5,807 3,735 3,629 4,800 4,800 Serbia Turkey Ukraine 3,827 4,332 4,673 5,337 4,600 4,700 Others Subtotal 23,586 29,803 27,427 29,523 25,580 25,710 United States World Total 23,922 30,094 27,588 29,648 25,710 25,840 TY Imports Algeria Belarus Brazil China 4,891 9,859 5,869 8,104 6,500 6,500 Colombia Egypt European Union India Iran 1,100 1,900 1,700 1,400 1,300 1,300 Israel Japan 1,294 1,097 1,154 1,197 1,100 1,100 Jordan Kuwait Libya 681 1,001 1,324 1,425 1,300 1,300 Mexico Morocco Saudi Arabia 8,500 8,200 10,400 9,500 8,500 8,500 Syria Tunisia United Arab Emirates Others 1,739 1,709 1,167 1,618 1, Subtotal 23,029 28,402 27,997 28,932 25,186 25,296 Unaccounted 370 1, United States World Total 23,922 30,094 27,588 29,648 25,710 25,840 TY=Trade Year, see Endnotes.

27 World Barley Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 2013/ / / /17 Nov Dec Production 2,750 2,750 3,300 4,940 2,900 4,750 Argentina 8,000 8,000 13,414 8,993 8,646 9,174 Australia 1,900 1,900 1,253 1,849 1,988 1,674 Belarus 7,900 7,250 8,784 8,226 7,119 10,237 Canada 2,100 2,100 2,000 1,870 1,810 1,700 China 2,070 2,070 2,050 1,950 1,953 1,908 Ethiopia 58,680 58,963 59,860 62,095 60,609 59,674 European Union 1,740 1,740 1,900 1,613 1,831 1,752 India 3,100 3,100 3,000 3,000 3,200 2,800 Iran 1,325 1,325 1,550 1,550 1, Iraq 2,700 2,700 3,231 2,675 2,412 2,539 Kazakhstan 2,000 2, ,400 1,638 2,723 Morocco 20,500 20,500 17,547 17,083 20,026 15,389 Russia 6,400 6,400 4,750 7,400 4,000 7,300 Turkey 8,700 8,700 9,900 8,751 9,450 7,561 Ukraine 8,908 9,072 9,666 9,495 9,179 9,459 Others 138, , , , , ,584 Subtotal 3,090 3,090 4,353 4,750 3,953 4,719 United States 141, , , , , ,303 World Total Total Consumption 1,850 1,850 2,050 2,150 2,050 2,050 Algeria 3,000 3,000 3,500 3,300 3,000 2,800 Australia 2,000 2,000 1,400 1,850 2,000 1,800 Belarus 7,000 6,700 6,762 6,960 6,471 7,718 Canada 8,900 8,900 9,800 7,900 11,600 6,300 China 2,075 2,075 2,025 1,990 1,975 1,925 Ethiopia 53,500 53,600 55,000 51,375 50,937 53,400 European Union 2,050 2,050 2,200 1,520 1,400 1,200 India 4,600 4,600 4,800 5,000 4,600 4,500 Iran 2,200 2,200 2,250 2,000 2,000 1,900 Kazakhstan 2,450 2,450 2,200 3,350 2,638 2,300 Morocco 15,700 15,400 14,700 13,700 14,100 12,700 Russia 9,825 9,825 9,525 10,225 8,525 8,625 Saudi Arabia 5,900 5,900 5,600 6,900 5,350 6,950 Turkey 4,300 4,400 4,900 4,300 5,500 5,100 Ukraine 17,528 17,698 18,529 18,575 16,765 17,029 Others 143, , , , , ,133 Subtotal 4,290 4,290 4,375 4,408 4,235 4,775 United States 147, , , , , ,908 World Total Ending Stocks ,313 1,304 1,178 Algeria 1,478 1,115 2,028 1,449 1,217 1,950 Canada 5,129 5,207 5,649 6,060 5,834 5,621 European Union 903 1, , Russia 2,729 2,729 4,044 4,059 3,074 3,389 Saudi Arabia Turkey ,263 1,609 1,565 2,071 Ukraine 4,815 4,815 6,972 8,009 7,824 7,200 Others 17,500 17,515 22,069 24,201 22,672 23,188 Subtotal 1,334 1,334 2,316 2,223 1,711 1,791 United States 18,834 18,849 24,385 26,424 24,383 24,979 World Total

28 Regional Barley Imports, Production, Consumption, and Stocks Thousand Metric Tons 2013/ / / /17 Nov Dec TY Imports North America South America 886 1,169 1,157 1,275 1,155 1,115 European Union Other Europe Former Soviet Union Middle East 12,537 12,399 14,798 13,701 11,725 11,725 North Africa 2,432 2,581 3,914 2,948 3,200 3,200 Sub-Saharan Africa East Asia 6,320 11,080 7,136 9,413 7,710 7,710 South Asia Oceania Total 23,552 28,832 28,349 29,149 25,536 25,646 Production North America 15,550 11,918 13,711 14,115 11,075 11,725 South America 5,743 3,794 5,924 4,714 4,021 3,842 European Union ,674 60,609 62,095 59,860 58,963 58,680 Other Europe 1,228 1,241 1,258 1,333 1,286 1,286 Former Soviet Union ,145 35,637 32,633 34,136 35,858 35,858 Middle East 12,043 8,653 12,558 9,725 11,235 11,235 North Africa 4,739 3,913 5,275 2,203 3,676 3,676 Sub-Saharan Africa 2,349 2,423 2,482 2,604 2,535 2,550 East Asia 1,991 2,134 2,158 2,297 2,409 2,409 South Asia 2,261 2,340 2,116 2,432 2,262 2,262 Oceania 9,580 9,052 9,430 13,759 8,340 8,340 Total 144, , , , , ,863 Domestic Consumption North America 13,243 11,556 12,293 12,087 11,890 12,190 South America 3,528 3,403 3,603 3,474 3,495 3,365 European Union ,400 50,937 51,375 55,000 53,600 53,500 Other Europe 1,334 1,414 1,373 1,404 1,387 1,387 Former Soviet Union ,460 25,524 24,002 25,511 26,218 26,398 Middle East 24,410 22,186 26,775 24,366 24,136 24,136 North Africa 6,282 7,120 8,203 7,032 7,028 7,028 Sub-Saharan Africa 2,453 2,471 2,595 2,633 2,700 2,680 East Asia 8,009 13,162 9,481 11,441 10,486 10,486 South Asia 1,713 1,923 2,053 2,768 2,638 2,638 Oceania 3,240 3,450 3,750 3,900 3,360 3,360 Total 141, , , , , ,168 Ending Stocks North America 3,974 3,326 4,058 4,759 2,799 3,162 South America , European Union ,621 5,834 6,060 5,649 5,207 5,129 Other Europe Former Soviet Union ,670 3,752 2,963 2,812 2,635 2,327 Middle East 5,781 5,508 6,755 5,854 4,477 4,528 North Africa 2,505 2,105 2,838 1,191 1,050 1,039 Sub-Saharan Africa East Asia 1,038 1, , South Asia Oceania 747 1,173 1,115 1, Total 24,979 24,383 26,424 24,385 18,849 18,834 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

29 World Sorghum Trade October/September Year, Thousand Metric Tons 2013/ / / /17 Nov Dec TY Exports Argentina Australia 408 1, China Ethiopia India Nigeria Ukraine Others Subtotal 2,033 3,316 1,911 1,598 1,650 1,650 United States 5,714 9,269 7,871 6,090 5,450 6,700 World Total 7,747 12,585 9,782 7,688 7,100 8,350 TY Imports Chile China 4,161 10,162 8,284 5,209 5,000 6,300 Colombia European Union Japan 1, Kenya Mexico South Africa South Sudan Sudan Others Subtotal 6,713 12,149 10,948 7,397 6,980 8,280 Unaccounted 1, , United States World Total 7,747 12,585 9,782 7,688 7,100 8,350 TY=Trade Year, see Endnotes.

30 World Sorghum Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 2013/ / / /17 Nov Dec Production 3,500 3,500 3,400 3,375 3,500 4,400 Argentina 1,900 1,900 1,017 1,791 2,209 1,282 Australia 1,806 1,600 1,865 1,032 2,055 1,890 Brazil 1,800 1,800 1,680 1,436 1,708 1,880 Burkina 1,150 1,150 1,150 1,150 1,150 1,260 Cameroon 1,100 1,100 1,460 1, Chad 3,850 3,850 3,800 2,750 2,885 2,892 China 3,765 3,765 3,600 3,900 4,339 3,829 Ethiopia 4,500 4,500 4,570 4,238 5,445 5,542 India 1,300 1,300 1,394 1,527 1, Mali 4,600 4,600 4,700 5,587 6,270 8,500 Mexico 1,700 1,700 1,808 1,877 1,426 1,320 Niger 6,550 6,550 6,887 5,664 6,741 5,300 Nigeria 4,500 4,500 5,864 2,388 6,281 4,524 Sudan Tanzania 7,307 7,383 7,012 7,400 8,131 7,491 Others 50,128 49,998 51,007 46,201 55,217 52,562 Subtotal 9,033 9,033 12,199 15,158 10,988 9,966 United States 59,161 59,031 63,206 61,359 66,205 62,528 World Total Total Consumption 2,900 2,900 3,100 2,900 2,800 2,700 Argentina 1,005 1, Australia 1,800 1,650 1,700 1,150 2,000 2,000 Brazil 1,760 1,760 1,640 1,465 1,700 1,900 Burkina 1,150 1,150 1,180 1,175 1,175 1,275 Cameroon 1,160 1,160 1,470 1, Chad 10,200 8,900 8,800 11,000 12,900 6,800 China 3,800 3,800 3,750 4,100 4,100 3,900 Ethiopia 4,500 4,500 4,500 4,600 5,100 5,200 India 1,350 1,350 1,394 1,527 1, Mali 4,800 4,800 5,350 6,300 6,600 8,300 Mexico 1,850 1,850 1,900 1,820 1,450 1,300 Niger 6,450 6,450 6,787 5,564 6,691 5,258 Nigeria , South Sudan 4,800 4,800 5,814 3,100 6,000 4,600 Sudan 8,562 8,632 8,176 8,849 9,473 9,028 Others 57,050 55,751 57,181 56,103 63,493 56,911 Subtotal 2,794 4,064 6,210 6,187 2,459 4,130 United States 59,844 59,815 63,391 62,290 65,952 61,041 World Total Ending Stocks ,202 Argentina Australia Brazil China Mexico Nigeria Sudan 1,257 1,288 1,532 1,723 2,428 1,830 Others 3,893 3,852 4,262 4,369 5,762 5,113 Subtotal United States 4,431 4,339 5,114 5,299 6,230 5,977 World Total

31 Regional Sorghum Imports, Production, Consumption, and Stocks Thousand Metric Tons 2013/ / / /17 Nov Dec TY Imports North America South America European Union Other Europe Middle East North Africa Sub-Saharan Africa East Asia 5,281 11,142 9,011 5,823 5,605 6,905 Southeast Asia Others Total 6,716 12,176 11,046 7,441 6,980 8,330 Production North America 18,466 17,258 20,745 16,899 13,633 13,633 Central America Caribbean South America 7,468 6,967 5,682 6,179 6,222 6,428 European Union Middle East North Africa Sub-Saharan Africa 23,748 28,122 23,208 27,778 25,953 25,953 East Asia 2,895 2,887 2,752 3,802 3,852 3,852 South Asia 5,661 5,548 4,383 4,700 4,630 4,630 Southeast Asia Oceania 1,282 2,209 1,791 1,017 1,900 1,900 Others Total 62,528 66,205 61,359 63,206 59,031 59,161 Domestic Consumption North America 12,430 9,059 12,487 11,560 8,864 7,594 Central America Caribbean South America 6,062 6,362 5,405 5,829 5,866 6,016 European Union Middle East North Africa Sub-Saharan Africa 24,183 27,751 24,383 28,208 26,813 26,813 East Asia 7,951 13,882 11,733 9,417 9,507 10,807 South Asia 5,334 5,235 4,956 4,646 4,680 4,680 Southeast Asia Oceania ,005 1,005 Others Total 59,936 66,133 62,742 63,136 59,611 59,721 Ending Stocks North America 1, ,216 1, Central America South America 1,548 1,310 1,140 1,122 1,062 1,134 European Union Middle East North Africa Sub-Saharan Africa 1,586 2,302 1,609 1,545 1,236 1,210 East Asia South Asia Oceania Others Total 5,977 6,230 5,299 5,114 4,339 4,431 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

32 World Oats Trade October/September Year, Thousand Metric Tons 2013/ / / /17 Nov Dec TY Exports Australia Canada 1,732 1,734 1,667 1,557 1,800 1,800 Chile European Union Kazakhstan Russia Ukraine Others Subtotal 2,367 2,383 2,204 2,269 2,380 2,360 United States World Total 2,396 2,408 2,240 2,313 2,410 2,390 TY Imports Algeria Bosnia and Herzegovina Canada China Colombia Ecuador European Union Japan Mexico Norway Russia Serbia South Africa Switzerland Turkey Others Subtotal Unaccounted United States 1,866 1,768 1,532 1,539 1,700 1,700 World Total 2,396 2,408 2,240 2,313 2,410 2,390 TY=Trade Year, see Endnotes.

33 World Oats Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 2013/ / / /17 Nov Dec Production Algeria Argentina 1,100 1,050 1,873 1,300 1,198 1,255 Australia Belarus Brazil 3,700 3,700 3,195 3,428 2,979 3,906 Canada Chile China 8,073 8,002 8,036 7,524 7,821 8,380 European Union Kazakhstan Mexico Norway 4,900 4,900 4,750 4,527 5,267 4,932 Russia Turkey Ukraine Others 22,283 22,176 22,656 20,641 21,118 22,221 Subtotal ,300 1, United States 23,000 22,893 23,596 21,941 22,137 23,159 World Total Total Consumption Algeria Argentina 1,050 1,050 1,200 1, Australia Belarus Brazil 1,900 1,900 1,814 1,611 1,676 1,660 Canada Chile China 7,800 7,800 8,000 7,400 7,730 8,075 European Union Kazakhstan Mexico Norway 4,900 4,900 4,800 4,600 5,200 4,900 Russia Turkey Ukraine Others 20,810 20,815 21,133 19,059 19,745 19,905 Subtotal 2,712 2,712 2,539 2,702 2,447 2,757 United States 23,522 23,527 23,672 21,761 22,192 22,662 World Total Ending Stocks Argentina Australia ,054 Canada Chile European Union Russia Ukraine Others 2,082 1,999 2,304 2,287 2,151 2,627 Subtotal United States 2,513 2,430 3,035 3,111 2,931 2,986 World Total

34 Regional Oats Imports, Production, Consumption, and Stocks Thousand Metric Tons 2013/ / / /17 Nov Dec TY Imports North America 1,986 1,866 1,620 1,676 1,810 1,810 South America European Union Other Europe Former Soviet Union Middle East North Africa Sub-Saharan Africa East Asia Oceania Total 2,307 2,246 2,015 2,173 2,255 2,235 Production North America 4,935 4,091 4,813 4,207 4,507 4,507 South America 1,478 1,281 1,478 2,372 2,069 2,055 European Union ,380 7,821 7,524 8,036 8,002 8,073 Other Europe Former Soviet Union ,062 6,631 5,767 5,981 6,176 6,176 Middle East North Africa Sub-Saharan Africa East Asia Oceania 1,283 1,233 1,329 1,910 1,085 1,135 Total 23,159 22,137 21,941 23,596 22,893 23,000 Domestic Consumption North America 4,602 4,298 4,503 4,548 4,802 4,802 South America 1,447 1,245 1,445 2,263 2,123 2,138 European Union ,075 7,730 7,400 8,000 7,800 7,800 Other Europe Former Soviet Union ,031 6,531 5,801 5,930 6,131 6,131 Middle East North Africa Sub-Saharan Africa East Asia Oceania ,054 1,235 1,085 1,085 Total 22,442 22,190 21,601 23,468 23,397 23,392 Ending Stocks North America 1,417 1,459 1,758 1,425 1,135 1,135 South America European Union Other Europe Former Soviet Union Middle East North Africa Sub-Saharan Africa East Asia Oceania Total 2,986 2,931 3,111 3,035 2,430 2,513 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

35 World Rye Trade October/September Year, Thousand Metric Tons 2013/ / / /17 Nov Dec TY Exports Belarus Canada European Union Russia Ukraine Others Subtotal United States World Total TY Imports European Union Israel Japan Korea, South Norway Russia Switzerland Others Subtotal Unaccounted United States World Total TY=Trade Year, see Endnotes.

36 World Rye Production, Consumption, and Stocks Local Marketing Years, Thousand Metric Tons 2013/ / / /17 Nov Dec Production Argentina Belarus Canada European Union 10,151 8,864 7,833 7,493 7,580 7,517 Russia 3,360 3,279 2,084 2,538 2,500 2,500 Turkey Ukraine Others Subtotal 15,567 14,276 11,879 12,061 12,235 12,174 United States World Total 15,761 14,459 12,174 12,403 12,481 12,420 Total Consumption Argentina Australia Belarus Canada European Union 9,650 8,600 8,025 7,700 7,600 7,600 Kazakhstan Norway Russia 3,100 3,250 2,150 2,400 2,400 2,400 Turkey Ukraine Others Subtotal 14,815 13,974 12,163 11,974 12,088 12,090 United States World Total 15,239 14,380 12,678 12,473 12,535 12,537 Ending Stocks Belarus Canada European Union 1,204 1,386 1, Kazakhstan Russia Turkey Ukraine Others Subtotal 1,914 1,985 1,484 1,408 1,372 1,294 United States World Total 1,921 2,000 1,496 1,426 1,387 1,309

37 Regional Rye Imports, Production, Consumption, and Stocks Thousand Metric Tons 2013/ / / /17 Nov Dec TY Imports North America South America European Union Other Europe Former Soviet Union Middle East Sub-Saharan Africa East Asia Oceania Total Production North America South America European Union ,151 8,864 7,833 7,493 7,580 7,517 Other Europe Former Soviet Union ,689 4,682 3,268 3,620 3,780 3,780 Middle East Sub-Saharan Africa East Asia Oceania Total 15,761 14,459 12,174 12,403 12,481 12,420 Domestic Consumption North America South America European Union ,650 8,600 8,025 7,700 7,600 7,600 Other Europe Former Soviet Union ,465 4,640 3,407 3,513 3,695 3,695 Middle East Sub-Saharan Africa East Asia Oceania Total 15,244 14,375 12,656 12,452 12,523 12,515 Ending Stocks North America South America European Union ,204 1,386 1, Other Europe Former Soviet Union Middle East Sub-Saharan Africa East Asia Oceania Total 1,921 2,000 1,496 1,426 1,387 1,309 NOTES: Regional definitions appear on last page of this circular. Imports are reported on a trade year basis. All other data are reported using local marketing years.

38 F AS / G & F D HISTORICAL DATA SERIES FOR SELECTED REGIONS AND COUNTRIES CONTENTS European Union: Grain Supply and Demand China: Grain Supply and Demand Other Europe: Grain Supply and Demand Former Soviet Union: Grain Supply and Demand Wheat Supply and Disappearance: Selected Exporters Corn Supply and Disappearance: Selected Exporters Barley Supply and Disappearance: Selected Exporters Sorghum Supply and Disappearance: Selected Exporters U.S. Grains: Supply and Distribution Total Wheat and Coarse Grains: Supply and Demand World Wheat and Coarse Grains: Supply and Demand World Corn and Barley: Supply and Demand World Rice: Supply and Demand

39 European Union: Grain Supply and Demand Wheat and Coarse Grains Millions of Metric Tons/Hectares Area Harvested Yield Productio n Imports Exports Feed Dom. Domestic Consumpti Ending Stocks Wheat 2006/ / / / / / / / / / / Coarse Grains 2006/ / / / / / / / / / / Wheat and Coarse Grains 2006/ / / / / / / / / / /

40 China: Grain Supply and Demand Wheat and Coarse Grains Millions of Metric Tons/Hectares Area Harvested Yield Productio n Imports Exports Feed Dom. Domestic Consumpti Ending Stocks Wheat 2006/ / / / / / / / / / / Coarse Grains 2006/ / / / / / / / / / / Wheat and Coarse Grains 2006/ / / / / / / / / / /

41 Other Europe: Grain Supply and Demand Wheat and Coarse Grains Millions of Metric Tons/Hectares Area Harvested Yield Productio n Imports Exports Feed Dom. Domestic Consumpti Ending Stocks Wheat 2006/ / / / / / / / / / / Coarse Grains 2006/ / / / / / / / / / / Wheat and Coarse Grains 2006/ / / / / / / / / / /

42 Former Soviet Union: Grain Supply and Demand Wheat and Coarse Grains Millions of Metric Tons/Hectares Area Harvested Yield Productio n Imports Exports Feed Dom. Domestic Consumpti Ending Stocks Wheat 2011/ / / / / / Coarse Grains 2011/ / / / / /

43 Former Soviet Union: Grain Supply and Demand (Wheat) Millions of Tons/Hectares Country Mktg Year Area Harvested Yield Productio n MY Imports MY Exports Feed and Residual Total Consumpti Ending Stocks Former Soviet Union - 12 Kazakhstan 2014/ / / Russia 2014/ / / Ukraine 2014/ / / Uzbekistan 2014/ / / Other Former Soviet Union / / / Total Former Soviet Union / / /

44 Former Soviet Union: Grain Supply and Demand (Barley) Millions of Tons/Hectares Country Mktg Year Area Harvested Yield Productio n MY Imports MY Exports Feed and Residual Total Consumpti Ending Stocks Former Soviet Union - 12 Kazakhstan 2014/ / / Russia 2014/ / / Ukraine 2014/ / / Uzbekistan 2014/ / / Other Former Soviet Union / / / Total Former Soviet Union / / /

45 Former Soviet Union: Grain Supply and Demand (Corn) Millions of Tons/Hectares Country Mktg Year Area Harvested Yield Productio n MY Imports MY Exports Feed and Residual Total Consumpti Ending Stocks Former Soviet Union - 12 Kazakhstan 2014/ / / Russia 2014/ / / Ukraine 2014/ / / Uzbekistan 2014/ / / Other Former Soviet Union / / / Total Former Soviet Union / / /

46 Wheat Supply and Disappearance: Selected Exporters Million Metric Tons/Hectares Country Mktg Year Area Harvested Yield Productio n MY Imports MY Exports Feed and Residual Total Consumpti Ending Stocks Wheat Competitors Argentina 2013/ / / / Australia 2013/ / / / Canada 2013/ / / / European Union 2013/ / / / Kazakhstan 2013/ / / / Russia 2013/ / / /

47 Wheat Supply and Disappearance: Selected Exporters (Continued) Million Metric Tons/Hectares Country Mktg Year Area Harvested Yield Productio n MY Imports MY Exports Feed and Residual Total Consumpti Ending Stocks Ukraine 2013/ / / / Total Wheat Competitors 2013/ / / /

48 Corn Supply and Disappearance: Selected Exporters Million Metric Tons/Hectares Country Mktg Year Area Harvested Yield Productio n MY Imports MY Exports Feed and Residual Total Consumpti Ending Stocks Argentina 2009/ / / / / / / / Brazil 2009/ / / / / / / / China 2009/ / / / / / / / South Africa 2009/ / / / / /

49 Corn Supply and Disappearance: Selected Exporters (Continued) Million Metric Tons/Hectares Country Mktg Year Area Harvested Yield Productio n MY Imports MY Exports Feed and Residual Total Consumpti Ending Stocks 2015/ / Total Corn Competitors 2009/ / / / / / / /

50 Barley Supply and Disappearance: Selected Exporters Million Metric Tons/Hectares Country Mktg Year Area Harvested Yield Productio n MY Imports MY Exports Feed and Residual Total Consumpti Ending Stocks Australia 2009/ / / / / / / / Canada 2009/ / / / / / / / European Union 2009/ / / / / / / /

51 Sorghum Supply and Disappearance: Selected Exporters Million Metric Tons/Hectares Country Mktg Year Area Harvested Yield Productio n MY Imports MY Exports Feed and Residual Total Consumpti Ending Stocks Argentina 2009/ / / / / / / / Australia 2009/ / / / / / / /

52 U.S. Grains Supply and Distribution: Wheat, Corn, Sorghum, Barley, Oats, Rye, and Rice Thousand Metric Tons/Hectares Area Harvested Yield Rough Production Production Imports TY Imports Exports TY Exports Feed Dom. Consumption Domestic Consumption Ending Stocks Wheat 2015/16 19,149 3 nr 56,117 3,068 3,054 21,168 21,811 4,065 31,942 26, /17 17,746 4 nr 62,833 3,215 3,297 28,716 29,488 4,257 31,751 32,133 15,211 3 nr 47,371 4,082 4,100 26,535 26,000 3,266 30,917 26,134 Corn 2015/16 32, nr 345,506 1,716 1,782 48,288 51, , ,785 44, /17 35, nr 384,778 1,448 1,450 58,242 55, , ,812 58,295 33, nr 370,286 1,270 1,300 48,897 48, , ,039 61,915 Sorghum 2015/16 3,177 5 nr 15, ,626 7,871 2,707 6, /17 2,494 5 nr 12, ,111 6,090 3,289 6, ,043 4 nr 9, ,604 6,700 1,524 2, Barley 2015/16 1,278 4 nr 4, ,408 2, /17 1,038 4 nr 4, ,375 2, nr 3, ,290 1,334 Oats 2015/ nr 1,300 1,475 1, ,591 2, / nr 940 1,556 1, ,434 2, nr 717 1,724 1, ,579 2, Rye 2015/ nr / nr nr Rice, Milled 2015/16 1, ,761 6, ,396 3,373 nr 3,580 1, /17 1, ,167 7, ,704 3,400 nr 4,171 1, ,091 5, ,270 3,400 nr 3, Notes: Wheat Trade Year (TY) statistics are on July/June years. Barley, corn, sorghum, rye and oats Trade Year (TY) statistics are on Oct/Sept years. Rice Trade Year (TY) statistics are for the subsequent calendar year; 'Imports' and 'Exports' columns contain data on the local marketing year: wheat, barley, oats and rye are June/May; corn and sorghum are Sept/Aug; rice is Aug/July.

53 Total Wheat and Coarse Grains: Supply and Demand Millions of Metric Tons/Hectares Area Yield Productio TY Feed Domestic Ending Harvested n Exports Dom. Consumpti Stocks Wheat and Coarse Grains 1988/ , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , , , Notes: Wheat and coarse grains trade data are on July/June years through 1975/76. From 1976/77 to the present, coarse grains data are on an Oct/Sept trade year.

54 World Wheat and Coarse Grains: Supply and Demand Millions of Metric Tons/Hectares Area Yield Productio TY Feed Domestic Ending Harvested n Exports Dom. Consumpti Stocks Wheat 1995/ / / / / / / / / / / / / / / / / / / / / / Coarse Grains 1995/ / / / / / / / / / , / / , / , , / , , / , , / , , / , , / , , / , , / , , / , , / , , , , Notes: Wheat and coarse grains trade data are on July/June years through 1975/76. From 1976/77 to the present, coarse grains data are on an Oct/Sept trade year.

55 World Corn and Barley: Supply and Demand Millions of Metric Tons/Hectares Area Yield Productio TY Feed Domestic Ending Harvested n Exports Dom. Consumpti Stocks Corn 1995/ / / / / / / / / / / / / / / / / / / / , / / , , , , Barley 1995/ / / / / / / / / / / / / / / / / / / / / / Notes: Coarse grains trade data are on July/June years through 1975/76. From 1976/77 to the present, coarse grains data are on an Oct/Sept trade year.

56 World Rice: Supply and Demand Millions of Metric Tons/Hectares Area Yield Rough Productio TY Domestic Ending Harvested Productio n Exports Consumpti Stocks Rice, Milled 1988/ / / / / / / / / / / / / / / / / / / / / / / / / / / / / Notes: Stocks, exports and consumption are expressed on a milled basis in marketing years.

57 ENDNOTES TO GRAIN: WORLD MARKETS AND TRADE REGIONAL TABLES North America: Canada, Mexico, the United States. Central America: Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama. Caribbean: Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Bermuda, British Virgin Islands, Cayman Islands, Cuba, Dominica, Dominican Republic, French West Indies, Grenada, Guadeloupe, Haiti, Jamaica and Dep, Leeward-Windward Islands, Martinique, Montserrat, Netherlands Antilles, Puerto Rico, Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Trinidad and Tobago, Turks and Caicos Islands, Virgin Islands of the U.S. South America: Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Falkland Islands (Islas Malvinas), French Guiana, Guyana, Paraguay, Peru, Suriname, Uruguay, Venezuela. EU: Austria, Belgium/Luxembourg, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom. Other Europe: Albania, Azores, Bosnia and Herzegovina, Former Yugoslavia, Gibraltar, Iceland, Macedonia, Montenegro, Norway, Serbia, Switzerland. Former Soviet Union: Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, Uzbekistan. Middle East: Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, Turkey, United Arab Emirates, Yemen. North Africa: Algeria, Egypt, Libya, Morocco, Tunisia. Sub-Saharan Africa: all African countries except North Africa. East Asia: China, Hong Kong, Japan, South Korea, North Korea, Macau, Mongolia, Taiwan. South Asia: Afghanistan, Bangladesh, Bhutan, India, Nepal, Pakistan, Sri Lanka, Maldives. Southeast Asia: Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, Vietnam. Oceania: Australia, Fiji, New Zealand, Papua New Guinea. Foreign Agricultural Service/USDA 57 December 2017

58 OTHER NOTES Local Marketing Years (LMY): LMY refers to the 12-month period at the onset of the main harvest, when the crop is marketed (i.e., consumed, traded, or stored). The year first listed begins a country's LMY for that commodity (2016/17 starts in 2016); except for summer grains in certain Southern Hemisphere countries and for rice in selected countries, where the second year begins the LMY (2016/17 starts in 2017). Key exporter LMY s are: Wheat Corn Barley Sorghum Argentina (Dec/Nov) Argentina (Mar/Feb) Australia (Nov/Oct) Argentina (Mar/Feb) Australia (Oct/Sep) Brazil (Mar/Feb) Canada (Aug/Jul) Australia (Mar/Feb) Canada (Aug/Jul) China (Oct/Sep) European Union (Jul/Jun) United States (Sep/Aug) China (Jul/Jun) South Africa (May/Apr) Russia (Jul/Jun) European Union (Jul/Jun) United States (Sep/Aug) Ukraine (Jul/Jun) India (Apr/Mar) United States (Jun/May) Kazakhstan (Jul/Jun) Russia(Jul/Jun) Turkey (Jun/May) Ukraine (Jul/Jun) United States (Jun/May) For a complete list of local marketing years, please see the FAS website ( Stocks: Unless otherwise stated, stock data are based on an aggregate of differing local marketing years and should not be construed as representing world stock levels at a fixed point in time. Consumption: World totals for consumption reflect total utilization, including food, seed, industrial, feed, and waste; as well as differences in local marketing year imports and local marketing year exports. Consumption statistics for regions and individual countries, however, reflect food, seed, industrial, feed, and waste only. Trade: All PSD tables are balanced on the different local marketing years. All trade tables contain Trade Year (TY) data which puts all countries on a uniform, 12-month period for analytical comparisons: wheat is July/June; coarse grains, corn, barley, sorghum, oats, and rye are Oct/Sept; and rice is calendar year. EU Consolidation: The trade figures starting from 1999/00 represent the European Union (Croatia plus the former EU-27) and exclude all intra-trade. For the years 1960/61 through 1998/99, figures are the EU-15 and also exclude all intra-trade. EU-15 member states' data for grains are no longer maintained in the official USDA database. Data for the individual NMS-10, plus Bulgaria, Romania, and Croatia, exists only prior to 1999/00. Statistics: (1) Wheat trade statistics include wheat, flour, and selected pasta products on a grain equivalent basis. (2) Rice trade statistics include rough, brown, milled, and broken on a milled equivalent basis. (3) Coarse grains statistics include corn, barley, sorghum, oats, rye, millet, and mixed grains but exclude trade in barley malt, millet, and mixed grains. Foreign Agricultural Service/USDA 58 December 2017

59 Unaccounted: This term includes grain in transit, reporting discrepancies in some countries, and trade to countries outside the USDA database. The Global Commodity Analysis Division,, Foreign Agricultural Service, USDA, Washington, DC 20250, prepared this circular. Information is gathered from official statistics of foreign governments and other foreign source materials, reports of U.S. agricultural attachés and Foreign Service officers, office research, and related information. Further information may be obtained by writing the Division or telephoning (202) Note: The previous report in this series was Grain: World Markets and Trade November For further details on world grain production, please see World Agricultural Production December This circular is available in its entirety on the Internet via the Foreign Agricultural Service Home Page. The address is: Questions may be directed to the following staff: Andrew Sowell (202) Wheat Shelbi Knisley (202) Wheat Rachel Trego (202) Rice/Wheat Tiffany Landry (202) Rice Yoonhee Macke (202) Coarse Grains Graham Soley (202) Coarse Grains Olutayo Akingbe (202) Coarse Grains Foreign Agricultural Service/USDA 59 December 2017

60 United States Department of Agriculture Foreign Agricultural Service December 2017 Bangladesh: A Growing Market for U.S. Soybeans 100% Meal Equivalent Share 90% 80% 70% 60% 50% 40% 30% 20% 10% Animal Population, Millions Auqaculture Production, MT 0% Shrimp (MT) US Beans Share US Meal Share India Meal Share Aquaculture (MT) Cattle and Chicken Pop. (millions) Source: Production Data from Government Published Data, linearly extrapolated for missing years (shaded). Import data based on exporter data through Global Trade Atlas, HIS Markit. shares based on year-to-date import statistics. With a population over 163 million, and a fast-growing economy, Bangladesh is a rapidly growing agricultural market. With rapid modernization of the poultry and aquaculture industries, Bangladesh has the potential to grow further as an export destination for U.S. soybeans. With limited domestic soybean production, Bangladesh has historically procured soybean meal from regional suppliers, such as India, to satiate its burgeoning livestock sector. After its struggles with avian influenza in 2011 and 2012, followed by domestic unrest in 2013, the Bangladesh poultry sector expanded its operations and started to diversify its procurement of protein meal, especially with production issues in long-time supplier India. Price sensitivity initially drove Bangladesh buyers to suppliers in South America for a couple of years. With the global soybean production boom in recent years increasing the affordability of U.S. beans, however, U.S. soybean exports to Bangladesh have picked up, improving U.S. market share. In MY2016/17, the United States supplied a large portion of the domestic soybean and meal market. In MY year-to-date, U.S. exports of soybeans to Bangladesh have already exceeded three times of what was shipped in the same time frame last year. While the resurgence of Indian soybean meal exports may continue, a rapidly growing aquaculture and livestock industry and expanding crush capacity suggests that Bangladesh will continue to provide additional opportunities for U.S. soybean exporters. Approved by the World Agricultural Outlook Board/USDA

61 United States Facing Growing Competition in Peanut Butter Trade While the United States continues to be the world s largest exporter of peanut butter, recent trade statistics show increasing competition from other exporters. For the year ending September 30, 2017, the United States. exported nearly 46,000 tons of peanut butter representing nearly one-third of global trade. This equates to about 90,000 tons of U.S. peanuts or approximately 13 percent of total U.S. exports (peanuts + peanut equivalent in peanut butter). Canada remains the largest market for U.S. peanut butter, accounting for over one-third of exports, and the largest source of imported peanut butter. Netting out cross border trade with Canada (U.S. exports to Canada minus Canada s exports to the U.S.) raises the U.S. global export share to 37 percent. Thousand Metric Tons U.S. Peanut Butter Trade US Exp (Ex Can) Net Canada Trade Net trade with Canada, which peaked at near 7,000 metric metric tons in the 12 months ending in early 2015, has declined to less than 3,000 tons today, primarily on the strength of growing Canadian exports to the U.S. While U.S. exports to Canada have remained constant, U.S. exports to other markets have fallen 5,000 tons to near 32,000 tons. The result has been a decline in the U.S. global export share from 35 to 32 percent (all trade) and 44 to 37 percent (excluding cross-border trade with Canada) since mid While the combined export share of the four major peanut exporting countries, Argentina, China, India and the United States, has remained nearly constant at 60 percent, the U.S. share has fallen. Much of this is being taken by India, with gains likely in the value end of the market, while more modest gains are attributed to other exporters. With a larger crop this year, the United States has the potential to gain back some lost market share. However, competition is expected to remain strong, particularly in price-sensitive markets. Distribution of Peanut Butter Export Growth CY 2015 to Current 8% 7% 10% 13% 10% 52% India Other Misc China South Africa Argentina EU Office of Global For Analysis an subscription, click here to register:

62 OVERVIEW Global oilseed production is forecast slightly higher this month at 580 million tons. Soybean crop prospects are down with smaller production in Canada and Russia. Rapeseed production is boosted, with higher production in Canada offsetting lower production in India and Australia. Global oil production is forecast up on higher palm oil production in Indonesia. Global soybean exports are unchanged this month. Imports are slightly higher as larger Argentina, Canada, and Russia imports more than offset reductions for Iran. World ending stocks for soybeans are up this month, with larger stocks in the United States and the European Union outweighing smaller stocks in Argentina and Brazil. The U.S. season-average farm price for soybeans is unchanged at $9.30 per bushel. SOYBEAN PRICES U.S. export bids in November, FOB Gulf, averaged $379/ton, up $3 from the previous month. In comparison, FOB Brazil Paranagua averaged $386/ton, unchanged from last month. FOB Argentina Up River averaged $371/ton, down $7 from last month. Strong demand and concerns about the South American crop has supported prices in the United States. For the week ending November 30, U.S. 340 soybean export commitments (outstanding sales plus accumulated exports) to China totaled 20.7 million tons compared to 27.2 million a year ago. Total commitments to the world are 36.3 million tons, compared to 43.1 million for the same period last year. FOB ($/MT) Soybean Export Prices U.S. Gulf Brazil Paranagua Argentina Up River Technical Notes Please note that a couple of updates have been made to the PSD database this month. First, the conversion ratio of Soybean Meal Equivalent (SME) for sunflowerseed meal has been lowered from to Second, all SME calculations are now based on the Feed & Waste attribute (Feed Waste Dom. Cons.), as opposed to the Total Domestic Consumption (Total Dom. Cons.) attribute. In addition, the marketing year for Paraguay soybeans and products was changed to a calendar year from a March-February year. This resulted in trade changes and adjustments in domestic use back to the late 1970 s. With new crop soybean exports generally beginning in January, this adjustment will better reflect actual harvest patterns.

63 OUTLOOK CHANGES Country Commodity Attribute Previous Current Change Reason United States Soybean Oilseed Exports 61,235 60, Sunflowerseed Oilseed Stronger-than-expected competition from South America during Q1 Exports Reflects weaker 2016/17 performance Sunflowerseed Meal Exports Reflects stronger 2016/17 performance Argentina Sunflowerseed Oil Exports Reflects stronger 2016/17 performance Soybean Oilseed Exports 8,000 8, Reflects strong October trade and slower North American exports Imports 1,500 1, Reflects stronger 2016/17 performance Brazil Soybean Oilseed Exports 65,000 65, Rapeseed Oilseed Exports 11,000 11, Reflects strong October November trade and slower North American export pace Reflects larger supplies and strong export pace to date Rapeseed Meal Exports 4,550 4, Reflects stronger demand Canada Soybean Oilseed Exports 5,800 5, Weaker pace of early season trade Imports Stronger pace of imports through October Soybean Meal Imports Stronger pace of imports through October China Rapeseed Oilseed Imports 4,300 4, On stronger demand at the beginning of the marketing year Soybean Meal Imports 19,400 19, On increased domestic protein meal supply European Union Sunflowerseed Meal Imports 3,800 3, Sunflowerseed Oil Imports 1,600 1, On larger sunflowerseed production estimate and higher domestic crush On larger sunflowerseed production estimate and higher domestic crush Rapeseed Meal Exports On lower production forecast Soybean Meal Exports 1,700 1, In line with changes for 2016/17 India Indonesia Palm Oil Imports 9,500 9, Sunflowerseed Oil Imports 1,700 1, Palm Kernel Meal Exports 4,250 4, Palm Oil Imports 26,200 28,000 1,800 Palm Kernel Oil Imports 1,700 1, On increased global supply of palm oil and strong vegetable oil demand On strong vegetable oil demand and shorter supplies of rapeseed oil On increased production forecast Iran Soybean Oilseed Imports 2,250 2, In line with changes for 2016/17 Japan Soybean Meal Imports 1,850 1, In line with consumption levels of 2016/17 Mexico Rapeseed Imports 1,825 1, On strong demand and larger exportable supplies in Canada New Zealand Palm Kernel Meal Imports 1,700 2, In line with changes for 2016/17

64 Country Commodity Attribute Previous Current Change Reason Sunflowerseed Meal Exports 1,500 1, On reductions in production and lower crush forecast Russia Sunflowerseed Oil Exports 2,200 2, On reductions in production and lower crush forecast Soybean Oilseed Imports 1,800 2, Following smaller domestic production Note : All figures are in thousand metric tons. All changes based on trade trends and estimates unless stated otherwise.

65 2016/17 TRADE CHANGES Country Commodity Attribute Previous Current Change Argentina Soybean Meal Exports 31,600 31, Sunflowerseed Oil Exports China Fish Meal Imports 1,400 1, Egypt Soybean Oilseed Imports 2,300 2, Palm Oil Imports 6,500 6, European Union Sunflowerseed Oil Imports 1,640 1, Rapeseed Oilseed Imports 4,743 4, Soybean Oilseed Imports 13,200 13, Palm Oil Imports 9,150 9, India Soybean Oil Imports 3,400 3, Sunflowerseed Oil Imports 2,000 2, Indonesia Palm Oil Exports 26,000 27, Iran Soybean Oilseed Imports 2,050 1, New Zealand Palm Kernel Meal Imports 1,700 1, Paraguay Soybean Oilseed Exports 6,600 6, Peru Fish Meal Exports 1,000 1, Senegal Peanut Oilseed Exports Note: All changes based on trade data. All figures are in thousand metric tons.

66 Questions may be directed to: Bill George (202) Agata Kingsbury (202) Justin Choe (202) Sarah Gilleski (202) To download the tables in the publication, go to the Production, Supply and Distribution Database (PSD Online): ( select PSD Reports, and then on the left click Oilseeds. The Foreign Agricultural Service (FAS) updates its production, supply and distribution (PSD) database for cotton, oilseeds, and grains at 12:00 p.m. on the day the World Agricultural Supply and Demand Estimates (WASDE) report is released. This circular is released by 12:15 p.m. FAS Reports and Databases: Current World Markets and Trade and World Agricultural Production Reports: Archives World Markets and Trade and World Agricultural Production Reports: Production, Supply and Distribution Database (PSD Online): Global Agricultural Trade System (U.S. Exports and Imports): Export Sales Report: Global Agricultural Information Network (Agricultural Attaché Reports): Other USDA Reports: World Agricultural Supply and Demand Estimates (WASDE): Economic Research Service: National Agricultural Statistics Service:

67 List of Tables SUMMARY TABLES Table 01 Major Oilseeds: World Supply and Distribution (Commodity View) Table 02 Major Protein Meals: World Supply and Distribution (Commodity View) Table 03 Major Vegetable Oils: World Supply and Distribution (Commodity View) Table 04 Major Oilseeds: World Supply and Distribution (Country View) Table 05 Major Protein Meals: World Supply and Distribution (Country View) Table 06 Major Vegetable Oils: World Supply and Distribution (Country View) COMMODITY TABLES Table 07 Soybeans: World Supply and Distribution Table 08 Soybean Meal: World Supply and Distribution Table 09 Soybean Oil: World Supply and Distribution Table 10 Soybeans and Products: World Trade Table 11 Palm Oil: World Supply and Distribution Table 12 Rapeseed and Products: World Supply and Distribution Table 13 Sunflowerseed and Products: World Supply and Distribution Table 14 Minor Vegetable Oils: World Supply and Distribution HISTORICAL TABLES Table 15 World Oilseeds and Products Supply and Distribution Table 16 World Soybeans and Products Supply and Distribution Table 17 World Rapeseed and Products Supply and Distribution Table 18 World Sunflowerseed and Products Supply and Distribution Table 19 World Palm Oil, Coconut Oil, and Fish Meal Supply and Distribution COUNTRY TABLES Table 20 United States Oilseeds and Products Supply and Distribution (Local Marketing Years) Table 21 United States Soybeans and Products Supply and Distribution (Local Marketing Years) Table 22 Brazil Soybeans and Products Supply and Distribution Local Marketing Years Table 23 Argentina Soybeans and Products Supply and Distribution Local Marketing Years Table 24 South East Asia Oilseeds and Products Supply and Distribution Table 25 Middle East Oilseeds and Products Supply and Distribution Table 26 European Union Oilseeds and Products Supply and Distribution Table 27 China Oilseeds and Products Supply and Distribution Table 28 India Oilseeds and Products Supply and Distribution PRICES Table 29 Table 30 Table 31 Oilseed Prices Protein Meal Prices Vegetable Oil Prices

68 Table 01: Major Oilseeds: World Supply and Distribution (Commodity View) Million Metric Tons 2013/ / / /17 Nov Dec Production Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Imports Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Exports Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Crush Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Ending Stocks Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Totals may not add due to rounding

69 Table 02: Major Protein Meals: World Supply and Distribution (Commodity View) Million Metric Tons 2013/ / / /17 Nov Dec Production Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Imports Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Exports Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Domestic Consumption Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Ending Stocks Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Totals may not add due to rounding

70 Table 03: Major Vegetable Oils: World Supply and Distribution (Commodity View) Million Metric Tons 2013/ / / /17 Nov Dec Production Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Imports Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Exports Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Domestic Consumption Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Ending Stocks Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Totals may not add due to rounding

71 Table 04: Major Oilseeds: World Supply and Distribution (Country View) Million Metric Tons 2013/ / / /17 Nov Dec Production United States Brazil Argentina China India Other Total Imports China European Union Mexico Japan Thailand Pakistan Indonesia Turkey Egypt Taiwan Other Total Exports Brazil United States Canada Argentina Paraguay Ukraine Australia Other Crush Total China United States Argentina European Union Brazil India Russia Ukraine Indonesia Canada Mexico Pakistan Malaysia Japan Turkey Other Total Ending Stocks Argentina China Brazil United States European Union Other Total Major Oilseeds includes Copra, Cottonseed, Palm Kernel, Peanut, Rapeseed, Soybeans and Sunflowerseeds.

72 Table 05: Major Protein Meals: World Supply and Distribution (Country View) Million Metric Tons 2013/ / / /17 Nov Dec Production China United States Argentina Brazil European Union Other Total Imports European Union Vietnam Indonesia United States Korea, South Thailand Japan Other Total Exports Argentina Brazil United States Canada Ukraine Indonesia Malaysia Other Total Domestic Consumption China European Union United States Brazil India Mexico Vietnam Russia Japan Thailand Other SME Total China European Union United States Brazil India Mexico Vietnam Other Total Ending Stocks Brazil Argentina Indonesia India European Union Other Total Major Protein Meals include Copra, Cottonseed, Fish, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflower Meal.

73 Table 06: Major Vegetable Oils: World Supply and Distribution (Country View) Million Metric Tons 2013/ / / /17 Nov Dec Production Indonesia China Malaysia European Union United States Argentina Brazil Other Total Imports India European Union China United States Pakistan Bangladesh Egypt Turkey Malaysia Iran Other Total Exports Indonesia Malaysia Argentina Ukraine Canada Russia European Union Other Total Domestic Consumption China European Union India United States Indonesia Brazil Malaysia Pakistan Russia Argentina Thailand Mexico Bangladesh Egypt Japan Other Total Ending Stocks Indonesia Malaysia China India European Union Other Total Major Vegetable Oils includes Coconut, Cottonseed, Olive, Palm, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflowerseed oil.

74 Table 07: Soybeans: World Supply and Distribution Thousand Metric Tons 2013/ / / /17 Nov Dec Production United States 91, , , , , ,436 Brazil 86,700 97,200 96, , , ,000 Argentina 53,400 61,400 56,800 57,800 57,000 57,000 China 11,951 12,154 11,785 12,900 14,200 14,200 India 9,477 8,711 6,929 11,500 10,000 10,000 Paraguay 8,190 8,154 9,217 10,665 9,400 9,400 Canada 5,359 6,049 6,459 6,552 8,200 8,000 Other 16,283 19,471 19,220 20,878 21,652 21,431 Total 282, , , , , ,467 Imports China 70,364 78,350 83,230 93,495 97,000 97,000 European Union 13,293 13,914 15,120 13,380 14,000 14,000 Mexico 3,842 3,819 4,126 4,126 4,300 4,300 Japan 2,894 3,004 3,186 3,175 3,300 3,300 Thailand 1,798 2,411 2,798 3,077 3,150 3,150 Egypt 1,694 1,947 1,300 2,115 2,800 2,800 Indonesia 2,241 2,006 2,274 2,650 2,600 2,600 Taiwan 2,335 2,520 2,476 2,566 2,400 2,400 Turkey 1,608 2,197 2,283 2,271 2,250 2,250 Iran 301 1,311 1,864 1,879 2,250 2,100 Other 12,697 12,883 14,670 15,594 16,072 16,505 Total 113, , , , , ,405 Exports Brazil 46,829 50,612 54,383 63,137 65,000 65,500 United States 44,594 50,143 52,860 59,157 61,235 60,555 Argentina 7,842 10,575 9,921 7,023 8,000 8,500 Paraguay 4,844 4,576 5,400 6,170 6,000 6,000 Canada 3,469 3,763 4,236 4,591 5,800 5,500 Other 5,143 6,548 5,753 7,185 6,398 6,399 Crush Total 112, , , , , ,454 China 68,850 74,500 81,500 88,000 95,000 95,000 United States 47,192 50,975 51,335 51,681 52,798 52,798 Argentina 36,173 40,235 43,267 43,297 44,840 44,840 Brazil 36,861 40,435 39,747 40,900 42,000 42,000 European Union 13,100 14,450 14,950 14,400 14,500 14,500 India 8,700 7,700 5,700 9,200 9,000 9,000 Russia 3,400 3,650 4,050 4,300 4,800 4,800 Mexico 4,030 4,175 4,400 4,600 4,720 4,720 Paraguay 3,550 3,700 3,800 3,650 3,700 3,700 Egypt 1,680 1,950 1,200 2,165 2,800 2,800 Bolivia 2,250 2,500 2,350 2,050 2,500 2,500 Japan 1,969 2,150 2,283 2,392 2,350 2,350 Iran 450 1,450 2,100 2,060 2,450 2,300 Canada 1,525 1,787 2,000 2,000 2,200 2,000 Pakistan ,250 1,680 2,000 2,000 Other 13,093 14,703 15,423 15,749 16,317 16,257 Total 242, , , , , ,565 Ending Stocks Argentina 25,271 31,700 31,700 36,420 37,550 37,170 Brazil 15,820 18,925 18,200 24,863 22,263 21,863 China 13,848 17,009 16,910 20,391 20,641 20,641 United States 2,504 5,188 5,354 8,201 11,572 12,124 European Union 1, ,559 1,058 1,028 1,188 Other 3,714 4,069 4,201 5,687 4,843 5,333 Total 62,410 77,734 77,924 96,620 97,897 98,319 Most countries are on an October/September Marketing Year (MY). The United States, Mexico, and Thailand are on a September/August MY. Canada is on an August/July MY. Paraguay is on a March/February MY.

75 Table 08: Soybean Meal: World Supply and Distribution Thousand Metric Tons 2013/ / / /17 Nov Dec Production China 54,531 59,004 64,548 69,696 75,240 75,240 United States 36,909 40,880 40,525 40,581 41,821 41,821 Argentina 27,892 30,928 33,211 33,272 34,420 34,420 Brazil 28,540 31,300 30,750 31,660 32,500 32,500 European Union 10,349 11,416 11,811 11,376 11,455 11,455 India 6,960 6,160 4,560 7,360 7,020 7,200 Russia 2,679 2,876 3,191 3,388 3,782 3,782 Other 22,587 26,016 27,554 28,737 30,883 30,549 Total 190, , , , , ,967 Imports European Union 18,137 19,623 19,203 18,916 19,400 19,200 Vietnam 3,344 4,311 5,094 4,900 5,200 5,200 Indonesia 3,983 3,844 4,203 4,250 4,450 4,450 Thailand 2,665 3,068 2,433 2,781 2,800 2,800 Philippines 2,335 2,204 2,617 2,450 2,750 2,750 Mexico 1,410 1,795 2,367 2,000 2,350 2,350 Korea, South 1,825 1,751 2,118 1,764 2,000 2,000 Iran 2,683 1,948 1,420 1,600 1,750 1,750 Japan 1,976 1,699 1,721 1,621 1,850 1,750 Malaysia 1,397 1,465 1,291 1,500 1,530 1,530 Other 18,189 18,956 19,414 18,953 19,952 20,082 Total 57,944 60,664 61,881 60,735 64,032 63,862 Exports Argentina 24,972 28,575 30,325 31,323 31,200 31,200 Brazil 13,948 14,290 15,407 13,762 15,250 15,250 United States 10,504 11,891 10,844 10,524 11,068 11,068 Paraguay 2,428 2,569 2,552 2,351 2,550 2,500 India 3,252 1, ,000 1,700 1,800 Other 5,536 5,556 5,876 4,692 5,465 5,435 Total 60,640 64,402 65,413 64,652 67,233 67,253 Domestic Consumption China 52,534 57,467 62,663 68,646 73,870 73,870 United States 26,775 29,282 30,044 30,250 31,116 31,116 European Union 28,142 30,242 30,892 30,242 30,542 30,342 Brazil 15,100 15,700 16,270 16,843 17,480 17,480 Vietnam 4,200 4,750 5,520 5,790 6,210 6,210 Mexico 4,575 5,050 5,750 5,750 6,050 6,050 India 3,640 4,500 4,630 5,007 5,450 5,450 Indonesia 3,825 4,100 4,178 4,250 4,350 4,350 Thailand 4,150 4,100 4,230 4,231 4,300 4,300 Iran 2,800 3,030 3,250 3,265 3,700 3,580 Russia 2,700 2,850 3,150 3,100 3,580 3,580 Japan 3,434 3,361 3,453 3,423 3,620 3,520 Egypt 2,450 2,650 2,950 3,030 3,400 3,400 Argentina 2,100 2,402 2,680 2,850 3,055 3,055 Philippines 2,200 2,350 2,550 2,700 2,850 2,850 Other 28,154 30,134 31,389 32,844 34,616 34,639 Total 186, , , , , ,792 Ending Stocks Brazil 2,484 3,812 2,910 4,000 3,800 3,800 Argentina 4,073 4,025 4,231 3,330 3,212 3,495 India Vietnam Indonesia Other 3,139 4,680 4,574 4,057 3,885 3,848 Total 10,691 13,565 12,584 12,516 11,977 12,300 Most countries are on an October/September Marketing Year (MY). The Mexico and Thailand are on a September/August MY. Canada is on an August/July MY. Paraguay is on a March/February MY. Vietnam and the Philippines are on a January/December MY and Bolivia is on a March/February MY.

76 Table 09: Soybean Oil: World Supply and Distribution Thousand Metric Tons 2013/ / / /17 Nov Dec Production China 12,335 13,347 14,605 15,770 17,024 17,024 United States 9,131 9,706 9,956 10,024 10,208 10,208 Argentina 6,785 7,687 8,433 8,395 8,630 8,630 Brazil 7,070 7,760 7,630 7,850 8,060 8,060 European Union 2,489 2,746 2,841 2,736 2,755 2,755 India 1,566 1,386 1,025 1,655 1,620 1,620 Russia Other 5,230 6,006 6,358 6,660 7,129 7,046 Total 45,215 49,292 51,574 53,861 56,286 56,203 Imports India 1,804 2,815 4,269 3,534 4,100 4,100 Bangladesh Algeria China 1, Morocco Peru Colombia Egypt Iran Mexico Other 2,956 3,020 2,934 3,144 3,108 3,113 Total 9,253 10,032 11,634 10,993 11,483 11,488 Exports Argentina 4,087 5,094 5,697 5,387 5,850 5,900 Brazil 1,378 1,510 1,550 1,241 1,450 1,450 United States ,017 1, European Union 766 1, Paraguay Russia Bolivia Other 1,007 1,059 1,003 1,203 1,099 1,089 Total 9,423 11,098 11,707 11,331 11,752 11,701 Domestic Consumption China 13,650 14,200 15,350 16,350 17,400 17,400 United States 8,576 8,600 9,145 8,998 9,434 9,525 Brazil 5,705 6,265 6,290 6,590 6,700 6,700 India 3,300 4,100 5,300 5,400 5,600 5,600 Argentina 2,844 2,401 2,831 2,970 2,795 2,745 European Union 1,990 2,040 2,285 2,205 2,155 2,155 Mexico 890 1,001 1,020 1,130 1,150 1,150 Bangladesh ,005 1,000 1,000 Egypt Algeria Iran Pakistan Morocco Colombia Japan Other 4,829 5,009 5,018 5,207 5,473 5,468 Total 45,284 47,834 52,160 53,805 55,987 56,008 Ending Stocks United States China India Argentina Brazil Other 1,380 1,336 1,257 1,046 1, Total 3,831 4,223 3,564 3,282 3,380 3,264 Most countries are on an October/September Marketing Year (MY). Mexico is on a September/August MY. Peru is on an January/December MY and Paraguay and Bolivia are on a March/February MY.

77 Table 10: Soybeans and Products: World Trade Thousand Metric Tons Meal, Soybean Oil, Soybean Oilseed, Soybean Marketing Year 2015/ / / / / /17 Exports North America 11,192 10,829 11,382 1,171 1,359 1,026 57,096 63,748 66,055 Canada (Aug-Jul) ,236 4,591 5,500 United States (Sep-Aug) 10,844 10,524 11,068 1,017 1, ,860 59,157 60,555 South America 49,955 48,857 50,661 8,342 7,601 8,404 71,973 79,258 82,805 Argentina (Oct-Sep) 30,325 31,323 31,200 5,697 5,387 5,900 9,921 7,023 8,500 Brazil (Oct-Sep) 15,407 13,762 15,250 1,550 1,241 1,450 54,383 63,137 65,500 Paraguay (Mar-Feb) 2,552 2,351 2, ,400 6,170 6,000 South Asia 417 2,008 1, India (Oct-Sep) 409 2,000 1, Other 3,849 2,958 3,404 2,191 2,370 2,271 3,350 3,988 3,414 World Total 65,413 64,652 67,253 11,707 11,331 11, , , ,454 Imports European Union (Oct-Sep) 19,203 18,916 19, ,120 13,380 14,000 East Asia 3,912 3,502 3, , , , ,980 China (Oct-Sep) ,230 93,495 97,000 Japan (Oct-Sep) 1,721 1,621 1, ,186 3,175 3,300 Korea, South (Oct-Sep) 2,118 1,764 2, ,249 1,286 1,275 Taiwan (Oct-Sep) ,476 2,566 2,400 Southeast Asia 15,660 15,903 16, ,854 8,377 8,670 Indonesia (Oct-Sep) 4,203 4,250 4, ,274 2,650 2,600 Malaysia (Oct-Sep) 1,291 1,500 1, Philippines (Jan-Dec) 2,617 2,450 2, Thailand (Sep-Aug) 2,433 2,781 2, ,798 3,077 3,150 Vietnam (Jan-Dec) 5,094 4,900 5, ,602 1,700 1,900 North America 3,522 3,138 3, ,053 5,217 5,460 Canada (Aug-Jul) Mexico (Sep-Aug) 2,367 2,000 2, ,126 4,126 4,300 South America 4,843 4,977 5,302 1,223 1,333 1,377 2,163 3,019 3,087 Brazil (Oct-Sep) Colombia (Oct-Sep) 1,206 1,315 1, Central America 1,173 1,188 1, Caribbean 952 1,042 1, Middle East 4,117 4,725 5, ,185 5,219 5,510 Iran (Oct-Sep) 1,420 1,600 1, ,864 1,879 2,100 Israel (Oct-Sep) Syria (Jan-Dec) Turkey (Oct-Sep) ,283 2,271 2,250 North Africa 4,496 3,550 3,630 1,995 1,630 1,765 1,946 2,688 3,460 Egypt (Oct-Sep) 2,174 1,200 1, ,300 2,115 2,800 Other 4,003 3,794 4,205 5,568 5,041 5,509 5,408 5,411 5,706 World Total 61,881 60,735 63,862 11,634 10,993 11, , , ,405

78 Table 11: Palm Oil: World Supply and Distribution Thousand Metric Tons 2013/ / / /17 Nov Dec Production Indonesia 30,500 33,000 32,000 36,000 36,000 38,500 Malaysia 20,161 19,879 17,700 18,860 21,000 20,500 Thailand 2,000 2,068 1,804 2,500 2,200 2,700 Colombia 1,041 1,110 1,275 1,147 1,320 1,269 Nigeria Other 4,634 4,783 5,084 5,324 5,375 5,393 Total 59,306 61,810 58,833 64,801 66,865 69,332 Imports India 7,820 9,139 8,860 9,400 9,500 9,900 European Union 6,969 6,935 6,649 6,700 6,500 6,500 China 5,573 5,696 4,689 4,881 4,800 4,800 Pakistan 2,725 2,826 2,720 3,000 3,100 3,100 Bangladesh 1,232 1,280 1,511 1,314 1,600 1,600 United States 1,220 1,143 1,307 1,367 1,395 1,445 Egypt 1,075 1,489 1,038 1,300 1,250 1,250 Philippines , Russia Burma Other 13,419 13,897 13,127 14,523 14,787 15,087 Total 41,941 44,840 42,563 45,113 45,502 46,252 Exports Indonesia 21,719 25,964 22,906 27,500 26,200 28,000 Malaysia 17,344 17,378 16,621 16,301 17,300 17,300 Guatemala Benin Papua New Guinea Other 2,564 2,468 2,551 2,703 2,673 2,703 Total 43,194 47,370 43,727 48,284 47,993 49,833 Domestic Consumption India 8,302 9,150 9,100 9,650 9,800 10,100 Indonesia 8,750 7,520 8,920 9,040 9,050 9,350 European Union 6,600 6,920 6,700 6,500 6,350 6,350 China 5,700 5,700 4,800 4,820 4,800 4,800 Pakistan 2,540 2,738 2,815 2,995 3,085 3,085 Malaysia 2,869 2,941 2,990 2,736 3,570 3,070 Thailand 1,790 1,925 1,835 2,150 2,160 2,460 Bangladesh 1,215 1,275 1,411 1,314 1,620 1,620 United States 1,207 1,092 1,269 1,355 1,384 1,434 Nigeria 1,470 1,470 1,320 1,340 1,400 1,400 Egypt 1,150 1,350 1,150 1,300 1,250 1,250 Philippines ,074 1,100 1,100 Colombia Russia Vietnam Other 13,064 13,375 13,386 14,435 14,732 15,084 Total 57,518 58,694 59,226 61,300 62,918 63,695 Ending Stocks Indonesia 3,210 2,734 2,908 2,368 3,096 3,518 Malaysia 2,090 2,641 1,546 2,019 2,899 2,899 Thailand India Pakistan Other 3,432 3,521 3,062 3,279 3,075 3,175 Total 9,566 10,152 8,595 8,925 9,981 10,981

79 Table 12: Rapeseed and Products: World Supply and Distribution Thousand Metric Tons Meal, Rapeseed Oil, Rapeseed Oilseed, Rapeseed Marketing Year 2015/ / / / / /17 Production China (Oct-Sep) 10,771 10,117 10,236 7,101 6,669 6,745 14,300 13,500 13,100 India (Oct-Sep) 2,985 3,460 3,350 1,900 2,200 2,100 5,920 7,091 6,500 Canada (Aug-Jul) 4,698 5,200 5,200 3,625 4,020 4,020 18,377 19,600 21,500 Japan (Oct-Sep) 1,343 1,340 1,360 1,050 1,061 1, European Union (Jul-Jun) 13,851 13,908 14,250 10,157 10,199 10,450 21,997 20,543 22,100 Other 5,508 5,444 5,792 3,868 3,838 4,060 8,733 9,535 9,651 World Total 39,156 39,469 40,188 27,701 27,987 28,450 69,330 70,273 72,855 Imports China (Oct-Sep) ,011 4,260 4,700 India (Oct-Sep) Canada (Aug-Jul) Japan (Oct-Sep) ,387 2,392 2,450 European Union (Jul-Jun) ,493 4,225 4,200 Other 4,899 4,823 5,114 2,747 3,000 3,141 4,523 4,844 5,168 World Total 5,706 5,950 6,149 4,167 4,341 4,514 14,519 15,816 16,618 Exports China (Oct-Sep) India (Oct-Sep) Canada (Aug-Jul) 4,100 4,677 4,800 2,770 3,130 3,170 10,282 11,125 11,500 Japan (Oct-Sep) European Union (Jul-Jun) Other , ,061 3,741 4,586 4,843 World Total 5,688 6,078 6,310 4,140 4,471 4,540 14,367 16,031 16,693 Domestic Consumption China (Oct-Sep) 11,016 10,980 10,886 8,400 8,400 8,100 18,700 17,600 17,800 India (Oct-Sep) 2,600 2,897 3,185 2,280 2,517 2,555 5,930 6,900 6,670 Canada (Aug-Jul) ,726 9,238 9,248 Japan (Oct-Sep) 1,325 1,360 1,370 1,071 1,079 1,081 2,419 2,442 2,455 European Union (Jul-Jun) 13,800 13,850 14,000 10,050 10,150 10,300 25,200 25,300 25,900 Other 9,705 9,808 10,195 5,605 5,896 6,187 9,480 9,773 10,282 World Total 39,072 39,435 40,086 28,185 29,001 29,218 70,455 71,253 72,355 Ending Stocks China (Oct-Sep) ,630 2,683 2,073 1,109 1,269 1,269 India (Oct-Sep) Canada (Aug-Jul) ,016 1,348 2,200 Japan (Oct-Sep) European Union (Jul-Jun) ,931 1,079 1,129 Other World Total ,282 4,138 3,344 6,571 5,376 5,801

80 Table 13: Sunflowerseed and Products: World Supply and Distribution Thousand Metric Tons Oilseed, Sunflowerseed Meal, Sunflowerseed Oil, Sunflowerseed Marketing Year 2015/ / / / / /17 Production Argentina (Mar-Feb) 2,700 3,400 3,700 1,141 1,330 1,452 1,142 1,353 1,465 Russia (Sep-Aug) 9,173 10,858 10,500 3,510 4,167 4,105 3,530 4,192 4,130 Turkey (Sep-Aug) 1,100 1,320 1, , Ukraine (Sep-Aug) 11,900 15,200 13,000 4,811 5,986 5,369 5,010 6,351 5,590 European Union (Oct-Sep) 7,721 8,573 9,300 3,888 4,266 4,428 3,042 3,338 3,465 Other 7,702 8,258 7,672 2,409 2,608 2,624 2,066 2,223 2,238 World Total 40,296 47,609 45,772 16,502 19,320 19,018 15,377 18,218 17,710 Imports Argentina (Mar-Feb) Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) European Union (Oct-Sep) ,295 3,706 3,700 1,418 1,791 1,500 Other ,849 2,327 2,346 4,883 6,272 5,857 World Total 1,865 2,140 1,872 5,953 7,003 6,901 6,991 8,874 8,124 Exports Argentina (Mar-Feb) Russia (Sep-Aug) ,211 1,300 1,400 1,540 2,178 2,000 Turkey (Sep-Aug) Ukraine (Sep-Aug) ,817 4,807 4,500 4,500 5,851 5,000 European Union (Oct-Sep) Other 1,042 1,425 1, World Total 2,005 2,455 1,843 6,304 7,396 7,191 8,110 10,414 9,180 Domestic Consumption Argentina (Mar-Feb) 2,834 3,284 3, Russia (Sep-Aug) 9,070 10,670 10,520 2,250 2,800 2,850 1,950 2,065 2,130 Turkey (Sep-Aug) 1,452 1,862 2,012 1,600 1,850 1, ,010 Ukraine (Sep-Aug) 11,820 14,780 13, ,150 1, European Union (Oct-Sep) 8,220 8,940 9,240 6,960 7,860 7,960 4,230 4,510 4,610 Other 7,256 7,468 7,578 4,048 4,688 4,743 6,761 7,748 7,870 World Total 40,652 47,004 46,086 16,288 18,868 19,208 15,158 16,585 16,912 Ending Stocks Argentina (Mar-Feb) Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) European Union (Oct-Sep) Other World Total 2,268 2,558 2,273 1,324 1, ,507 1,600 1,342

81 Table 14: Minor Vegetable Oils: World Supply and Distribution Thousand Metric Tons Oil, Peanut Oil, Cottonseed Oil, Olive Marketing Year 2015/ / / / / /17 Production China (Oct-Sep) 2,816 2,864 2,960 1,091 1,115 1, India (Oct-Sep) 875 1,240 1,190 1,230 1,160 1,320 nr nr nr Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) ,320 1,750 1,800 Other 1,629 1,611 1,631 1,563 1,656 1, World Total 5,442 5,863 5,942 4,291 4,402 5,016 3,118 2,487 2,703 Imports China (Oct-Sep) India (Oct-Sep) nr nr nr Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) Other World Total Exports China (Oct-Sep) India (Oct-Sep) nr nr nr Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) Other World Total Domestic Consumption China (Oct-Sep) 2,919 2,967 3,085 1,090 1,113 1, India (Oct-Sep) 874 1,160 1,245 1,275 1,165 1,310 nr nr nr Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) ,570 1,420 1,380 Other 1,428 1,417 1,422 1,642 1,679 1, World Total 5,440 5,771 5,992 4,400 4,379 4,914 2,806 2,625 2,639 Ending Stocks China (Oct-Sep) India (Oct-Sep) nr nr nr Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) Other World Total

82 Table 15: World Oilseeds and Products Supply and Distribution Million Metric Tons Area Harvested Beginning Stocks Productio n Imports Total Supply Exports Food Use Dom. Domestic Consumpti Ending Stocks Major Oilseeds 2004/ / / / / / / / / / / / / Major Protein Meals 2004/05 nr /06 nr /07 nr /08 nr /09 nr /10 nr /11 nr /12 nr /13 nr /14 nr /15 nr /16 nr /17 nr nr Major Vegetable Oils 2004/ / / / / / / / / / / / / Based on the aggregate of different marketing years

83 Table 16: World Soybeans and Products Supply and Distribution Million Metric Tons Area Harvested Beginning Stocks Productio n Imports Total Supply Exports Crush Domestic Consumpti Ending Stocks Oilseed, Soybean 2004/ / / / / / / / / / / / / Meal, Soybean 2004/05 nr /06 nr /07 nr /08 nr /09 nr /10 nr /11 nr /12 nr /13 nr /14 nr /15 nr /16 nr /17 nr nr Oil, Soybean 2004/05 nr /06 nr /07 nr /08 nr /09 nr /10 nr /11 nr /12 nr /13 nr /14 nr /15 nr /16 nr /17 nr nr Based on the aggregate of different marketing years, primarily October through September.

84 Table 17: World Rapeseed and Products Supply and Distribution Million Metric Tons Area Harvested Beginning Stocks Productio n Imports Total Supply Exports Food Use Dom. Domestic Consumpti Ending Stocks Oilseed, Rapeseed 2004/ / / / / / / / / / / / / Meal, Rapeseed 2004/05 nr /06 nr /07 nr /08 nr /09 nr /10 nr /11 nr /12 nr /13 nr /14 nr /15 nr /16 nr /17 nr nr Oil, Rapeseed 2004/05 nr /06 nr /07 nr /08 nr /09 nr /10 nr /11 nr /12 nr /13 nr /14 nr /15 nr /16 nr /17 nr nr Based on the aggregate of different marketing years.

85 Table 18: World Sunflower and Products Supply and Distribution Million Metric Tons Area Beginning Productio Imports Exports Domestic Ending Harvested Stocks n Consumpti Stocks Oilseed, Sunflowerseed 2004/ / / / / / / / / / / / / Meal, Sunflowerseed 2004/05 nr /06 nr /07 nr /08 nr /09 nr /10 nr /11 nr /12 nr /13 nr /14 nr /15 nr /16 nr /17 nr nr Oil, Sunflowerseed 2004/05 nr /06 nr /07 nr /08 nr /09 nr /10 nr /11 nr /12 nr /13 nr /14 nr /15 nr /16 nr /17 nr nr Based on the aggregate of different marketing years, primarily September through August.

86 Table 19: World Palm Oil, Coconut Oil, and Fish Meal Supply and Distribution Million Metric Tons Beginning Stocks Productio n Imports Total Supply Exports Industrial Dom. Food Use Dom. Domestic Consumpti Ending Stocks Oil, Palm 2004/ / / / / / / / / / / / / Oil, Coconut 2004/ / / / / / / / / / / / / Meal, Fish 2004/ / / / / / / / / / / / / Based on the aggregate of different marketing years.

87 Table 20: United States Oilseeds and Products Supply and Distribution Local Marketing Year Thousand Metric Tons Area Harvested Beginning Stocks Productio n Imports Total Supply Exports Crush Domestic Consumpti Ending Stocks Major Oilseeds 2004/05 36,808 4,152 95, ,774 30,708 50,167 61,777 8, /06 36,587 8,289 95, ,624 26,611 51,897 63,812 14, /07 36,962 14,201 96,843 1, ,077 31,647 53,483 63,407 17, /08 31,970 17,023 82,453 1, ,741 33,045 53,495 60,787 6, /09 35,265 6,909 89,201 1,295 97,405 35,694 49,342 56,091 5, /10 35,511 5,620 98,951 1, ,637 41,691 51,483 58,402 5, /11 37,179 5, , ,921 41,938 49,323 57,664 7, /12 35,131 7,319 92,442 1, ,046 37,813 50,316 57,621 5, /13 36,676 5,612 93,323 1, ,540 37,156 50,250 57,621 5, /14 35,438 5,763 99,016 3, ,846 45,569 51,459 58,324 3, /15 38,983 3, ,029 1, ,833 51,116 55,111 63,961 6, /16 38,398 6, ,879 1, ,765 53,959 55,055 62,938 6, /17 39,245 6, ,935 1, ,302 60,278 56,236 65,406 9,618 42,936 9, ,157 1, ,310 61,808 57,690 67,603 13,899 Major Protein Meals 2004/05 nr ,191 1,537 41,001 6,954 50,167 33, /06 nr ,894 1,663 41,772 7,608 51,897 33, /07 nr ,390 1,709 43,460 8,264 53,483 34, /08 nr ,786 1,992 43,163 8,706 53,495 34, /09 nr ,631 1,817 39,782 7,940 49,342 31, /10 nr ,992 1,344 41,582 10,308 51,483 30, /11 nr ,032 2,241 40,614 8,488 49,323 31, /12 nr ,450 3,032 42,860 9,170 50,316 33, /13 nr ,593 3,393 42,322 10,461 50,250 31, /14 nr ,293 3,798 43,406 10,803 51,459 32, /15 nr ,210 3,873 47,375 12,144 55,111 34, /16 nr ,778 4,078 47,146 11,179 55,055 35, /17 nr ,083 3,921 47,279 10,829 56,236 36, nr ,488 4,028 48,924 11,407 57,690 37, Major Vegetable Oils 2004/ ,769 1,841 12, ,167 10,443 1, /06 0 1,124 10,435 2,379 13, ,897 11,242 1, /07 0 1,797 10,450 2,527 14,774 1,333 53,483 11,700 1, /08 0 1,741 10,544 3,109 15,394 1,679 53,495 12,251 1, /09 0 1,464 9,667 3,230 14,361 1,457 49,342 11,167 1, /10 0 1,737 10,058 3,338 15,133 1,948 51,483 11,194 1, /11 0 1,991 9,775 3,612 15,378 1,861 49,323 11,794 1, /12 0 1,723 10,032 3,831 15,586 1,146 50,316 12,873 1, /13 0 1,567 10,231 3,801 15,599 1,387 50,250 13,068 1, /14 0 1,144 10,427 4,016 15,587 1,116 51,459 13, / ,938 4,230 16,140 1,174 55,111 13,680 1, /16 0 1,286 11,212 4,527 17,025 1,248 55,055 14,574 1, /17 0 1,203 11,439 4,729 17,371 1,416 56,236 14,729 1, ,226 11,654 4,937 17,817 1,127 57,690 15,566 1,124 Based on the aggregate of different marketing years

88 Table 21: United States Soybeans and Products Supply and Distribution Local Marketing Years Thousand Metric Tons Area Harvested Beginning Stocks Productio n Imports Total Supply Exports Crush Domestic Consumpti Ending Stocks Oilseed, Soybean 2004/05 29,930 3,059 85, ,227 29,860 46,160 51,407 6, /06 28,834 6,960 83, ,559 25,579 47,324 52,751 12, /07 30,190 12,229 87, ,476 30,386 49,198 53,473 15, /08 25,959 15,617 72, ,745 31,538 49,081 51,627 5, /09 30,222 5,580 80, ,690 34,817 45,230 48,112 3, /10 30,907 3,761 91, ,628 40,798 47,673 50,724 4, /11 31,003 4,106 90, ,162 40,959 44,851 48,351 5, /12 29,856 5,852 84, ,582 37,186 46,348 48,786 4, /13 30,814 4,610 82,791 1,103 88,504 36,129 45,967 48,550 3, /14 30,858 3,825 91,389 1,953 97,167 44,594 47,192 50,069 2, /15 33,423 2, , ,286 50,143 50,975 54,955 5, /16 33,076 5, , ,686 52,860 51,335 54,472 5, /17 33,466 5, , ,879 59,157 51,681 55,521 8,201 36,208 8, , ,317 60,555 52,798 56,638 12,124 Meal, Soybean 2004/05 nr , ,261 6,659 46,160 30, /06 nr , ,700 7,301 47,324 30, /07 nr , ,464 7,987 49,198 31, /08 nr , ,798 8,384 49,081 30, /09 nr , ,820 7,708 45,230 27, /10 nr , ,194 10,125 47,673 27, /11 nr , ,045 8,238 44,851 27, /12 nr , ,731 8,845 46,348 28, /13 nr , ,668 10,111 45,967 26, /14 nr , ,506 10,504 47,192 26, /15 nr , ,409 11,891 50,975 29, /16 nr , ,127 10,844 51,335 30, /17 nr , ,137 10,524 51,681 30, nr , ,456 11,068 52,798 31, Oil, Soybean 2004/05 nr 488 8, , ,160 7, /06 nr 771 9, , ,324 8,147 1, /07 nr 1,365 9, , ,198 8,426 1, /08 nr 1,399 9, ,764 1,320 49,081 8,317 1, /09 nr 1,127 8, , ,230 7,378 1, /10 nr 1,298 8, ,242 1,524 47,673 7,173 1, /11 nr 1,545 8, ,185 1,466 44,851 7,506 1, /12 nr 1,213 8, , ,348 8,396 1, /13 nr 1,175 8, , ,967 8, /14 nr 751 9, , ,192 8, /15 nr 529 9, , ,975 8, /16 nr 841 9, ,927 1,017 51,335 9, /17 nr , ,934 1,160 51,681 8, nr , , ,798 9, Data based on Local Marketing Year (MY). Soybeans are on a September/August MY, and Soybean Meal and Oil are on an October/September MY.

89 Table 22: Brazil Soybeans and Products Supply and Distribution Local Marketing Years Thousand Metric Tons Area Harvested Beginning Stocks Productio n Imports Total Supply Exports Crush Domestic Consumpti Ending Stocks Oilseed, Soybean (Local) 2004/05 22,917 4,548 53, ,900 22,799 29,728 32,413 2, /06 22,229 2,688 57, ,728 24,770 28,756 31,506 3, /07 20,700 3,452 59, ,560 23,805 31,511 34,261 4, /08 21,300 4,494 61, ,577 24,515 31,895 34,695 6, /09 21,700 6,367 57, ,291 28,041 30,779 33,579 2, /10 23,500 2,671 69, ,821 29,188 35,700 38,550 4, /11 24,200 4,083 75, ,423 33,789 37,264 40,164 5, /12 25,000 5,470 66, ,268 31,905 36,230 39,130 1, /13 27,700 1,233 82, ,473 42,826 36,432 39,378 1, /14 30,100 1,269 86, ,548 45,747 38,195 41,345 1, /15 32,100 1,456 97, ,985 54,635 40,339 43, /16 33, , ,512 52,100 40,125 43,607 1, /17 33,900 1, , ,160 67,100 41,450 45,120 3,940 35,000 3, , ,140 64,500 42,000 45,740 1,900 Meal, Soybean (Local) 2004/05 nr , ,125 14,256 29,728 9, /06 nr , ,230 12,287 28,756 10, /07 nr , ,429 12,346 31,511 10,800 2, /08 nr 2,283 24, ,146 12,709 31,895 12,300 2, /09 nr 2,137 23, ,073 12,153 30,779 12,800 1, /10 nr 1,120 27, ,862 14,147 35,700 13,187 1, /11 nr 1,528 28, ,459 14,452 37,264 13,400 2, /12 nr 2,607 28, ,702 13,854 36,230 14,000 2, /13 nr 2,848 28, ,108 13,619 36,432 14,800 2, /14 nr 2,689 29, ,276 13,721 38,195 15,100 3, /15 nr 3,455 31, ,701 15,106 40,339 15,700 3, /16 nr 3,895 31, ,972 14,651 40,125 16,300 4, /17 nr 4,021 32, ,136 14,400 41,450 16,926 4,810 nr 4,810 32, ,340 15,350 42,000 17,600 4,390 Oil, Soybean (Local) 2004/05 nr 348 5, ,056 2,697 29,728 3, /06 nr 260 5, ,798 2,315 28,756 3, /07 nr 272 6, ,384 2,521 31,511 3, /08 nr 358 6, ,487 2,198 31,895 4, /09 nr 284 5, ,235 1,496 30,779 4, /10 nr 344 6, ,196 1,632 35,700 5, /11 nr 504 7, ,654 1,758 37,264 5, /12 nr 591 6, ,543 1,688 36,230 5, /13 nr 460 6, ,454 1,410 36,432 5, /14 nr 516 7, ,846 1,326 38,195 5, /15 nr 565 7, ,316 1,650 40,339 6, /16 nr 446 7, ,221 1,250 40,125 6, /17 nr 531 7, ,541 1,383 41,450 6, nr 478 8, ,598 1,475 42,000 6, Data based on Brazil's local February/January Marketing Year (MY). Where February January 2013 is the 2011/12 MY.

90 Table 23: Argentina Soybeans and Products Supply and Distribution Local Marketing Years Thousand Metric Tons Area Harvested Beginning Stocks Productio n Imports Total Supply Exports Crush Domestic Consumpti Ending Stocks Oilseed, Soybean (Local) 2004/05 14,400 2,532 39, ,241 10,686 29,560 31, /06 15, ,500 1,013 42,068 7,132 32,748 34, /07 16, ,800 2,336 51,804 12,133 35,963 37,593 2, /08 16,371 2,078 46,200 2,947 51,225 11,803 31,883 33,608 5, /09 16,000 5,814 32, ,971 3,486 28,555 30,405 4, /10 18,600 4,080 54, ,580 13,701 39,196 41,196 3, /11 18,300 3,683 49, ,696 10,389 37,521 39,821 2, /12 17,577 2,486 40, ,588 6,098 30,681 33,431 3, /13 19,750 3,059 49, ,361 7,817 35,009 38,209 6, /14 19,250 6,335 53, ,737 7,434 38,503 42,089 10, /15 19,340 10,214 61, ,755 11,670 45,110 49,285 10, /16 19,530 10,800 56,800 1,304 68,904 9,046 43,041 47,401 12, /17 18,350 12,457 57,800 2,000 72,257 7,335 43,200 47,672 17,250 19,100 17,250 57,000 1,700 75,950 8,500 45,000 49,650 17,800 Meal, Soybean (Local) 2004/05 nr 1,085 23, ,436 22,703 29, , /06 nr 1,203 25, ,785 24,723 32, , /07 nr 1,527 27, ,386 28,108 35, /08 nr , ,576 24,389 31, /09 nr , ,058 21,303 28, , /10 nr 1,005 30, ,498 28,384 39, , /11 nr 2,264 29, ,445 27,485 37,521 1,085 2, /12 nr 2,875 23, ,821 21,973 30,681 1,550 3, /13 nr 3,298 27, ,448 23,937 35,009 1,950 4, /14 nr 4,561 29, ,089 27,473 38,503 2,200 4, /15 nr 4,416 34, ,154 31,867 45,110 2,500 4, /16 nr 4,787 33, ,882 30,980 43,041 2,687 4, /17 nr 4,215 33, ,265 31,300 43,200 2,865 3,100 nr 3,100 34, ,640 31,250 45,000 3,075 3,315 Oil, Soybean (Local) 2004/05 nr 304 5, ,862 5,082 29, /06 nr 385 6, ,554 5,667 32, /07 nr 485 6, ,402 6,515 35, /08 nr 212 6, ,249 4,987 31,883 1, /09 nr 137 5, ,585 3,709 28,555 1, /10 nr 160 7, ,620 5,180 39,196 2, /11 nr 225 7, ,373 4,227 37,521 2, /12 nr 391 5, ,266 3,433 30,681 2, /13 nr 283 6, ,958 4,281 35,009 2, /14 nr 302 7, ,519 4,296 38,503 2, /15 nr 380 8, ,138 6,311 45,110 2, /16 nr 526 8, ,906 5,386 43,041 3, /17 nr 485 8, ,820 5,600 43,200 2, nr 300 8, ,965 5,900 45,000 2, Data based on Argentina's Local April/March Marketing Year (MY). Where April March 2013 is the 2011/12 MY.

91 Table 24: South East Asia Oilseeds and Products Supply and Distribution Thousand Metric Tons 2013/ / / /17 Nov Dec Production Oilseed, Copra 4,187 4,175 4,054 4,150 4,243 4,243 Oilseed, Palm Kernel 13,851 14,403 13,705 15,058 15,750 16,250 Oilseed, Soybean 1, Other 3,808 3,811 3,705 3,696 3,714 3,714 Total 22,886 23,384 22,411 23,844 24,628 25,128 Domestic Consumption Meal, Fish Meal, Rapeseed Meal, Soybean 16,056 16,996 18,283 18,806 19,647 19,647 Other 2,574 2,986 3,078 3,263 3,239 3,359 Total 20,284 21,575 22,564 23,324 24,164 24,284 SME Meal, Fish 1,233 1,225 1,150 1,274 1,247 1,247 Meal, Rapeseed Meal, Soybean 16,056 16,996 18,283 18,806 19,647 19,647 Other 1,429 1,595 1,657 1,730 1,732 1,774 Total 19,288 20,347 21,380 22,076 22,921 22,964 Imports Meal, Fish Meal, Rapeseed Meal, Soybean 13,743 14,914 15,660 15,903 16,754 16,754 Other Total 15,113 16,371 16,992 17,249 18,130 18,130 Industrial Dom. Cons. Oil, Palm 7,012 5,518 6,826 6,801 8,050 7,580 Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Other 3,832 4,014 3,988 4,205 4,250 4,380 Total 10,880 9,571 10,856 11,052 12,345 12,005 Food Use Dom. Cons. Oil, Palm 8,360 9,053 9,291 9,644 9,245 9,845 Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Other 1,437 1,384 1,423 1,505 1,565 1,575 Total 10,486 11,196 11,548 12,010 11,730 12,340 Domestic Consumption Oil, Palm 15,684 14,984 16,523 16,871 17,812 17,912 Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Other 5,279 5,408 5,421 5,720 5,825 5,965 Total 21,688 21,190 22,820 23,498 24,602 24,842 Imports Oil, Palm 2,920 3,762 3,600 3,555 3,715 3,715 Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Other Total 3,731 4,767 4,446 4,396 4,541 4,541 Southeast Asia includes Brunei, Burma, Cambonia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam. SME - 44 Percent Protein Soybean Meal Equivalent

92 Table 25: Middle East Oilseeds and Products Supply and Distribution Thousand Metric Tons 2013/ / / /17 Nov Dec Production Oilseed, Cottonseed 1,106 1,243 1,032 1,228 1,405 1,555 Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed 1,502 1,306 1,206 1,426 1,706 1,706 Other Total 3,496 3,421 3,085 3,496 3,938 4,088 Domestic Consumption Meal, Fish Meal, Rapeseed Meal, Soybean 6,785 7,105 7,605 7,926 8,686 8,541 Other 3,034 2,961 2,970 3,243 3,460 3,543 Total 10,802 11,123 11,634 12,198 13,246 13,184 SME Meal, Fish Meal, Rapeseed Meal, Soybean 6,785 7,105 7,605 7,926 8,686 8,541 Other 2,626 2,543 2,524 2,840 3,028 3,095 Total 10,175 10,463 10,961 11,575 12,573 12,496 Imports Meal, Fish Meal, Rapeseed Meal, Soybean 5,279 4,334 4,117 4,725 5,060 5,060 Other 1,407 1,406 1,544 1,622 1,550 1,550 Total 7,063 6,037 5,964 6,662 6,929 6,929 Imports Oil, Palm 2,362 2,127 2,310 2,559 2,522 2,572 Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed 1,916 1,760 1,661 2,233 1,989 1,989 Other Total 5,147 4,898 4,612 5,428 5,214 5,264 Industrial Dom. Cons. Oil, Palm Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Other Total Food Use Dom. Cons. Oil, Palm 1,793 1,507 1,815 1,961 2,031 2,071 Oil, Rapeseed Oil, Soybean ,027 1,012 Oil, Sunflowerseed 1,835 1,971 2,094 2,328 2,362 2,362 Other Total 5,416 5,643 5,908 6,248 6,476 6,516 Domestic Consumption Oil, Palm 1,973 1,692 2,000 2,146 2,211 2,261 Oil, Rapeseed Oil, Soybean 974 1,131 1,178 1,154 1,197 1,176 Oil, Sunflowerseed 1,885 2,001 2,124 2,358 2,392 2,392 Other Total 5,876 6,184 6,423 6,753 6,960 7,008 Middle East includes Bahrain, Gaza Strip, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, Turkey, United Arab Emirates, West Banks, and Yemen. SME - 44 Percent Protein Soybean Meal Equivalent

93 Table 26: European Union Oilseeds and Products Supply and Distribution Thousand Metric Tons 2013/ / / /17 Nov Dec Production Oilseed, Rapeseed 21,306 24,587 21,997 20,543 22,100 22,100 Oilseed, Soybean 1,211 1,832 2,320 2,379 2,480 2,480 Oilseed, Sunflowerseed 9,054 8,974 7,721 8,573 8,700 9,300 Other Total 32,050 35,913 32,443 31,911 33,765 34,365 Domestic Consumption Meal, Fish Meal, Rapeseed 13,700 14,300 13,800 13,850 14,050 14,000 Meal, Soybean 28,142 30,242 30,892 30,242 30,542 30,342 Other 9,532 9,369 9,281 9,952 9,999 10,099 Total 51,971 54,440 54,554 54,599 55,211 55,061 SME Meal, Fish Meal, Rapeseed 9,748 10,174 9,819 9,854 9,997 9,961 Meal, Soybean 28,142 30,242 30,892 30,242 30,542 30,342 Other 7,652 7,499 7,456 8,211 8,249 8,343 Total 46,404 48,679 49,007 49,109 49,684 49,542 Imports Meal, Fish Meal, Rapeseed Meal, Soybean 18,137 19,623 19,203 18,916 19,400 19,200 Other 5,656 5,469 5,502 5,710 5,805 5,705 Total 24,622 25,824 25,398 25,075 25,805 25,505 Industrial Dom. Cons. Oil, Palm 3,100 3,400 3,400 3,400 3,300 3,350 Oil, Rapeseed 6,865 7,095 7,200 7,100 7,050 7,050 Oil, Soybean Oil, Sunflowerseed Other Total 11,695 12,310 12,425 12,225 12,025 12,075 Food Use Dom. Cons. Oil, Palm 3,250 3,320 3,100 2,900 2,850 2,800 Oil, Rapeseed 2,900 3,250 2,800 3,000 3,200 3,200 Oil, Soybean 1,000 1,000 1,300 1,300 1,300 1,300 Oil, Sunflowerseed 3,400 3,350 3,800 4,100 4,200 4,200 Other 2,571 2,317 2,358 2,204 2,167 2,167 Total 13,121 13,237 13,358 13,504 13,717 13,667 Domestic Consumption Oil, Palm 6,600 6,920 6,700 6,500 6,350 6,350 Oil, Rapeseed 9,815 10,395 10,050 10,150 10,300 10,300 Oil, Soybean 1,990 2,040 2,285 2,205 2,155 2,155 Oil, Sunflowerseed 3,720 3,670 4,230 4,510 4,610 4,610 Other 3,076 2,854 2,848 2,694 2,657 2,657 Total 25,201 25,879 26,113 26,059 26,072 26,072 Imports Oil, Palm 6,969 6,935 6,649 6,700 6,500 6,500 Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed 1, ,418 1,791 1,600 1,500 Other 1,341 1,603 1,373 1,339 1,371 1,371 Total 9,981 9,881 9,972 10,268 9,871 9,771 European Union includes Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and United Kingdom.

94 Table 27: China Oilseeds and Products Supply and Distribution Thousand Metric Tons 2013/ / / /17 Nov Dec Production Oilseed, Peanut 16,972 16,482 16,440 17,000 17,500 17,500 Oilseed, Rapeseed 14,458 14,772 14,300 13,500 13,100 13,100 Oilseed, Soybean 11,951 12,154 11,785 12,900 14,200 14,200 Oilseed, Sunflowerseed 2,424 2,492 2,698 2,800 2,850 2,850 Other 12,835 11,757 8,600 8,800 9,800 9,800 Total 58,640 57,657 53,823 55,000 57,450 57,450 Domestic Consumption Meal, Fish 1,599 1,474 1,439 1,981 1,435 1,435 Meal, Rapeseed 11,287 11,032 11,016 10,980 11,064 10,886 Meal, Soybean 52,534 57,467 62,663 68,646 73,870 73,870 Other 9,360 8,761 7,912 8,370 8,803 8,803 Total 74,780 78,734 83,030 89,977 95,172 94,994 SME Meal, Fish 2,311 2,130 2,079 2,863 2,074 2,074 Meal, Rapeseed 8,031 7,849 7,838 7,812 7,872 7,745 Meal, Soybean 52,534 57,467 62,663 68,646 73,870 73,870 Other 8,491 7,996 7,433 7,810 8,256 8,256 Total 71,367 75,442 80,013 87,131 92,072 91,945 Imports Meal, Fish 1,041 1,031 1,042 1,550 1,000 1,000 Meal, Rapeseed Meal, Soybean Other Total 2,122 1,784 1,828 3,143 2,240 2,240 Food Use Dom. Cons. Oil, Palm 3,600 3,750 2,700 2,670 2,600 2,600 Oil, Peanut 2,851 2,819 2,919 2,967 3,085 3,085 Oil, Rapeseed 7,400 7,750 8,400 8,400 8,100 8,100 Oil, Soybean 13,650 14,200 15,350 16,350 17,400 17,400 Oil, Sunflowerseed 1, ,379 1,279 1,392 1,392 Other 1,662 1,563 1,272 1,297 1,426 1,426 Total 30,173 31,080 32,020 32,963 34,003 34,003 Domestic Consumption Oil, Palm 5,700 5,700 4,800 4,820 4,800 4,800 Oil, Peanut 2,851 2,819 2,919 2,967 3,085 3,085 Oil, Rapeseed 7,400 7,750 8,400 8,400 8,100 8,100 Oil, Soybean 13,650 14,200 15,350 16,350 17,400 17,400 Oil, Sunflowerseed 1, ,379 1,279 1,392 1,392 Other 2,157 2,141 1,832 1,892 1,976 1,976 Total 32,768 33,608 34,680 35,708 36,753 36,753 Imports Oil, Palm 5,573 5,696 4,689 4,881 4,800 4,800 Oil, Peanut Oil, Rapeseed Oil, Soybean 1, Oil, Sunflowerseed Other Total 9,104 8,627 7,771 8,004 7,705 7,705 SME - 44 Percent Protein Soybean Meal Equivalent

95 Table 28: India Oilseeds and Products Supply and Distribution Thousand Metric Tons 2013/ / / /17 Nov Dec Production Oilseed, Cottonseed 12,950 12,525 10,996 11,463 12,736 12,524 Oilseed, Peanut 6,482 4,855 4,470 6,700 6,500 6,500 Oilseed, Rapeseed 6,650 5,080 5,920 7,091 7,200 6,500 Oilseed, Soybean 9,477 8,711 6,929 11,500 10,000 10,000 Oilseed, Sunflowerseed Other Total 36,864 32,284 29,370 37,764 37,461 36,614 Domestic Consumption Meal, Cottonseed 4,230 4,264 3,962 3,738 4,265 4,265 Meal, Peanut 1,630 1,242 1,107 1,566 1,507 1,507 Meal, Rapeseed 2,115 1,600 2,600 2,897 3,285 3,185 Meal, Soybean 3,640 4,500 4,630 5,007 5,450 5,450 Meal, Sunflowerseed Other Total 12,190 12,166 13,049 14,082 15,267 15,192 SME Meal, Cottonseed 3,428 3,455 3,210 3,029 3,456 3,456 Meal, Peanut 1,832 1,396 1,244 1,760 1,694 1,694 Meal, Rapeseed 1,505 1,138 1,850 2,061 2,337 2,266 Meal, Soybean 3,640 4,500 4,630 5,007 5,450 5,450 Meal, Sunflowerseed Other Total 10,797 10,832 11,426 12,455 13,450 13,402 Food Use Dom. Cons. Oil, Cottonseed 1,250 1,250 1,230 1,120 1,265 1,265 Oil, Palm 8,052 8,750 8,600 9,100 9,200 9,500 Oil, Peanut 1,237 1, ,150 1,235 1,235 Oil, Rapeseed 2,300 2,000 2,200 2,432 2,620 2,475 Oil, Soybean 3,300 4,100 5,300 5,400 5,600 5,600 Oil, Sunflowerseed 1,500 1,700 1,665 2,100 1,900 2,100 Other Total 17,984 19,220 20,124 21,532 22,061 22,416 Domestic Consumption Oil, Cottonseed 1,295 1,295 1,275 1,165 1,310 1,310 Oil, Palm 8,302 9,150 9,100 9,650 9,800 10,100 Oil, Peanut 1,247 1, ,160 1,245 1,245 Oil, Rapeseed 2,370 2,080 2,280 2,517 2,705 2,555 Oil, Soybean 3,300 4,100 5,300 5,400 5,600 5,600 Oil, Sunflowerseed 1,500 1,700 1,665 2,100 1,900 2,100 Other Total 18,657 20,047 21,047 22,488 23,086 23,436 Imports Oil, Cottonseed Oil, Palm 7,820 9,139 8,860 9,400 9,500 9,900 Oil, Peanut Oil, Rapeseed Oil, Soybean 1,804 2,815 4,269 3,534 4,100 4,100 Oil, Sunflowerseed 1,516 1,575 1,492 2,151 1,700 1,850 Other Total 11,497 14,136 15,110 15,484 15,820 16,370 SME - 44 Percent Protein Soybean Meal Equivalent

96 Table 29: Oilseed Prices U.S. Dollars per Metric Ton Year Soybean Peanut Sunseed Rapeseed Copra Beg U.S. U.S. Brz Arg Rott U.S. Rott U.S. Rott Hamb Rott Oct 1 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ 10/ 11/ Oct - Sep Average 06/07-15/ / , / , / , / , / , / , / , / , / , / , /17 Oct , Nov , ,021 Dec , ,127 Jan , Feb , Mar , Apr , May , Jun , Jul , Aug , Sep , Average , ,076 Oct , *Nov N/A N/A 1,250 N/A ,038 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Average N/A N/A 1,263 N/A ,014 1/ U.S. Farm Price; USDA. 2/ U.S. NO.1 Yellow Cash Central Illinois; AMS. 3/ Brazil Paranagua, FOB; IGC 4/ Argentina Up River, FOB; IGC 5/ Rotterdam CIF; US origin; Oil World. 6/ US Farm Price, Inshell, USDA. 7/ Rotterdam CIF; US Runners 40/50%, Shelled Basis, Oilworld. 8/ US Farm Price; USDA 9/ Rotterdam/Amsterdam CIF; EU; Oil World 10/Hamburg CIF; Europe "00"; Oil World. 11/ Phil/Indo CIF NW Europe; Oil World * Preliminary Sept/Oct/Nov Shipment 12/12/ :51:36 AM

97 Year Soybean Table 30: Protein Meal Prices U.S. Dollars per Metric Ton Cottonseed Sunseed Fish Beg U.S. Brz Arg Hamb U.S. U.S. Ukr Brem Oct 1 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ Oct - Sep Average 06/07-15/ / / / / / / , / , / , / , / , /17 Oct ,497 Nov ,463 Dec ,423 Jan ,386 Feb ,353 Mar ,304 Apr ,296 May ,331 Jun ,333 Jul ,354 Aug ,380 Sep ,402 Average ,377 Oct ,378 *Nov ,388 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Average ,383 Rapeseed Hamb 9/ / Decatur, Average Wholsale 48% Protein; USDA. 2/ Brazil Paranagua, FOB; 48% Protein; IGC. 3/ Argentina Pellets, Up River, FOB; IGC; 4/ Hamburg FOB 44/45% Ex-Mill; Oil World. 5/ Memphis FOB; 41% Protein Solvent Extraction; USDA; 6/ Minneapolis FOB; 32% Protein; USDA. 7/ HiPro a.o. cif France or Ukraine DAF; Argentina Pellet 37-38% (Prior to Aug 2012); Oilworld. 8/ Bremen 64-65% Protein; Oil World. 9/ Hamburg FOB; Ex-Mill 34% Protein; Oil World. * Preliminary 12/12/ :51:36 AM

98 Table 31: Vegetable Oil Prices U.S. Dollars per Metric Ton Year Soybean Cottonseed Sunseed Peanut Palm Canola Coconut Corn Begin U.S. Brz Arg Rott U.S. U.S. Rott U.S. Rott Malay Rott Rott U.S. Oct 1 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ 10/ 11/ 12/ 13/ Oct - Sep Average 06/07-15/ ,000 1,092 1,479 1,075 1,635 1, ,034 1, / , ,253 1, /08 1,147 1,190 1,191 1,327 1,622 2,010 1,639 2,225 2,018 1,058 1,410 1,306 1, / , ,539 1, / , ,353 1, /11 1,173 1,210 1,211 1,306 1,202 1,899 1,404 1,806 1,751 1,154 1,367 1,772 1, /12 1,144 1,162 1,164 1,241 1,173 1,834 1,254 2,247 2,455 1,032 1,258 1,244 1, /13 1,039 1,012 1,014 1,098 1,071 1,452 1,189 1,934 1, , , / ,337 1, ,430 1, , / ,009 1, ,265 1, , / ,011 1, ,294 1, , /17 Oct , ,430 1, , Nov ,010 1, ,455 1, , Dec ,023 1, ,391 1, , Jan , ,386 1, , Feb , ,392 1, , Mar , ,451 1, , Apr , ,536 1, , May , ,560 1, , Jun , ,680 1, , Jul , ,670 1, , Aug , ,535 1, , Sep , ,468 1, , Average , ,496 1, , Oct , ,443 1, , *Nov , ,433 1, , Dec Jan Feb Mar Apr May Jun Jul Aug Sep Average , ,438 1, , / Decatur; Average Wholesale Tank Crude; USDA. 2/ Brazil Paranagua, FOB Crude; IGC. 3/ Argentina Up River, FOB Crude; IGC 4/ Dutch FOB; Ex-Mill; Oil World. 5/ PBSY Greenwood MS; USDA. 6/ Minneapolis FOB; USDA. 7/ EU FOB NW Euro; Oil World. 8/ South East Mills FOB; Tank Cars Crude; USDA. 9/ Rotterdam CIF; Any Origin; Oil World. 10/ Malaysia FOB; RBD; Oil World. 11/ Rotterdam, Dutch FOB Ex-Mill; Oilworld. 12/ Rotterdam CIF; Phil/Indo; Oil World. 13/ Chicago; Crude; AMS * Preliminary 12/12/ :51:36 AM

99 United States Department of Agriculture Foreign Agricultural Service Circular Series WAP December 2017 World Agricultural Production Australia Wheat: Production Estimate Unchanged USDA estimates Australia s wheat production at 21.5 million metric tons (mmt), unchanged from last month but down 12.0 mmt or 36 percent from last year. Area is estimated at 12.5 million hectares, unchanged from last month but up 0.1 million or 1 percent from last year. The yield estimate of 1.72 tons per hectare is the second lowest in the past ten seasons. The lowest yield in the last decade occurred in the severe drought year of 2006/07. Persistent dryness and the subsoil moisture deficit in a major portion of Australia s winter wheat region contributed to an estimated 17-percent drop in wheat yield. Precipitation was well below average since major sowing operations commenced in May. Harvest began in November and is finished by the end of December. Approved by the World Agricultural Outlook Board

100 Satellite-derived vegetation indices (the normalized difference vegetation index or NDVI) indicated below-average conditions for Western Australia (34 percent of total wheat production) and New South Wales (30 percent), which are major producing states. South Australia (18 percent) and Victoria (13 percent), show near to below-average crop conditions as seen in the NDVI. (For more information, please contact Brazil Wheat: Production Lowest in Ten Years Brazil wheat production for is estimated at 4.25 million metric tons (mmt), down 0.65 mmt or 13 percent from last month and down 37 percent from last year s record. Harvested area is estimated at 1.9 million hectares (mha), unchanged from last month but down 10 percent from last year. Yield is estimated at 2.24 metric tons per hectare, down 13 percent from last month and down 30 percent from last year s record. The record yield of 2016/17 was due to favorable weather. The wheat harvest is virtually complete. In stark contrast to last year s record wheat crop, wheat production for dropped to a 10- year low. Unfavorable weather lowered yield to below average and crop area was one of the lowest harvested in 10 years. The two southern states of Parana and Rio Grande do Sul which produce about 85 percent of Brazil s wheat. The season began with less than ideal conditions as excessive rainfall in May and early June delayed planting in Rio Grande do Sul. Dry weather in mid-june enabled planting but then dryness persisted. In June and July, crop losses from the prolonged period of dryness were reported in both Parana and Rio Grande do Sul. In addition, damaging sub-freezing temperatures in mid-july resulted in area loss and reduced yields in southwestern Parana. Frost damage was also reported in Rio Grande do Sul. Continued dry weather coupled with high temperatures in early August stressed wheat in reproductive to filling stages in Parana. Beneficial rainfall returned to the wheat growing region in late August but was excessive at times. During the September to November harvest, reports from the southern wheat region indicated lower than expected yields and poor or uneven grain 2

101 quality resulting from unfavorable weather and disease damage. (For more information, please contact Canada Wheat: Conditions Rebound Before Harvest after a Challenging Summer USDA estimates Canada wheat production for at 30.0 million metric tons (mmt), up 11 percent from last month but down 5 percent from last year. Area is estimated at 9.0 million hectares, unchanged from last month, but up 1 percent from last year. Yield is estimated at 3.33 metric tons per hectare (mt/ha), up 11 percent from last month but down 7 percent from last year. While the Canadian Prairies (Manitoba, Saskatchewan, and Alberta) experienced hot and dry conditions throughout the main part of the growing season (July and August), the dry conditions in the autumn were beneficial for the crop and allowed yield to rebound. Manitoba, which produces about 16 percent of the spring wheat crop, received favorable rainfall at critical periods and ended the season with record high yields at 4.0 mt/ha according to recently released Statistics Canada data. Additionally, both Alberta and Saskatchewan ended the season with higher-than-average yields. Throughout the season, NDVI (normalized difference vegetation index) continued to show below-average conditions for both Alberta and Saskatchewan but critical rainfall prior to harvest during September and October boosted seasonal yields. Wheat is usually swathed prior to harvest 3

102 with the dry autumn weather towards the last half of October favoring dry-down and harvest across the Prairies. The estimated total wheat crop of 30.0 mmt is the third-largest crop on record behind the 2013/2014 and 2016/2017 seasons. (For more information, please contact India Rapeseed: Harvested Area Forecast to Decrease By 10 percent USDA forecasts India rapeseed harvested area for at 6.5 million hectares, down 10 percent from the last month and down 8 percent from last year. Despite favorable domestic prices and higher import duties on eligible oil, planting progress declined by 20 percent from the same period the previous year. According to the Ministry of Agriculture, planting progress in Rajasthan on November 30 lagged by 25 percent from the same period last year. Additionally, industry sources reported higher than average temperatures in northern India, which also discouraged planting. Yield is forecast at 1.0 metric ton per hectare, down 8 percent from last year and unchanged from last month. Rapeseed is the second-largest oilseed crop in India and is produced in the rabi season (October through April). The top producers are Rajasthan, Haryana, Madhya Pradesh, Uttar Pradesh, and Gujarat. (For more information, please contact Arnella.Trent@fas.usda.gov.) India Cotton: Estimated Production Decreases Despite an Increase in Harvested Area USDA estimates India cotton harvested area for at a near record level of 12.3 million hectares, up slightly from last month and up 13 percent from last year. This area increase is due to higher domestic prices compared to other crops. Despite near record area, production is forecast to decrease to 29.5 million 480-pound bales, down 2 percent from last month s forecast and up 9 percent from 2016/17. Yield is forecast at 522 kilograms per hectare, down about 2 percent from last month and down 4 percent from the previous year. The 2 percent decrease is due to less than ideal growing conditions which impacted the crop. Untimely rains affected crop yields in Telangana and Andhra Pradesh. Pink bollworm and sucking pests have been reported in Maharashtra and Telangana. In Gujarat, however, which produces 30 percent of total production, no pests have been reported. Cotton is produced in the kharif season (May through October). Harvest is nearing completion in most of the major cotton areas but some farmers are reporting second pickings in central India. (For more information please contact Arnella.Trent@fas.usda.gov.) 4

103 Burkina Faso Cotton: Estimated Output Down Due to Drought and Pest Pressures down 19 percent from the 5-year average yield. Burkina Faso s cotton production for is estimated at 1.3 million 480-pound bales, down 0.12 million bales from last month and down 0.01 million bales from last year. Harvested area is estimated at a record 0.85 million hectares (mha), up mha from last month and up 0.15 mha from last year. The estimated yield of 333 kilograms per hectare is the lowest since 1995 down 19 percent from both last month and last year and Burkina Faso s cotton is sown from May to July and harvest is from late October to December. Rainfall from June through August was near average, but September s rainfall was well below average and reduced potential yield. Moreover, Burkina cotton farmers switched from planting Bacillus thuringiensis (Bt) cotton to conventional cotton, resulting in increased bollworm pest pressure, further reducing the estimated yield. (For more information, please contact Curt.Reynolds@fas.usda.gov.) 5

104 Pakistan Cotton: Estimated Output Decreased Based on Arrival Data USDA estimates Pakistan s cotton production at 8.2 million 480-pound bales, down 0.95 million bales from last month, but up 0.5 million bales from last year. Harvested area is estimated at 2.8 million hectares, unchanged from last month, but up 0.4 million hectares from last year. The yield is estimated at 638 kilograms per hectare down 10 percent from last month and down 9 percent from last year. Harvest is nearing completion with peak harvest typically occurring in October. Harvest of the early crop (sown in February) started in June; harvest of the late crop (planted in May) began in September. According to the Pakistan Cotton Ginner s Association, cumulative seed cotton arrivals at gins, at the beginning of December, are 6 percent greater than the same time last year, but lower than previously anticipated. At the provincial level, the arrivals are down 1 percent in Punjab and up 11 percent in Sindh. (For more information, please contact Jame.Crutchfield@fas.usda.gov.) Russia Sunseed: Harvest Lags in the Volga District USDA estimates Russia sunseed production for at 10.5 million metric tons (mmt), down 0.5 mmt from last month and down 0.4 mmt from last year s record output. The estimated yield is essentially unchanged at 1.48 metric tons per hectare, only slightly below last year s level and 7 percent above the 5-year average. The month-tomonth decrease in estimated output is based on persistently wet November weather in the main sunflower zone, including the Volga District, the Central District, and the northern part of the Southern District. The wetness has contributed to significant harvest delays and will likely result in a significant portion of the planted area remaining unharvested in some regions. In the Volga District, which accounts for almost 45 percent of the sunflower area, only 72 percent of the planted area had been harvested by December 6, compared to 95 percent last year. The total harvested area for Russia sunseed is estimated at 7.1 million hectares (mha), down 0.4 mha from 6

105 last month and down 0.1 mha from last year. (For more information, please contact Russia Corn: Wet Weather Hampers Harvest USDA estimates Russia corn production for at 14.0 million metric tons (mmt), down 1.0 mmt from last month and down 1.3 mmt from last year s record output. The decrease is based on persistently wet November weather that impeded harvest in the Central and Volga Districts. The corn harvest was about 75 percent complete as of December 6 compared to 84 percent by the same date last year. Harvest in the Central District was complete on 67 percent of the planted area, which is the slowest pace since The Central District is Russia s top corn-producing region, with nearly 40 percent of the country s output. In the Volga District (which produces 10 percent of Russia s corn), harvest was only 40 percent complete by December 6 compared to 90 percent by the same date last year. The estimated harvested area for Russia corn is decreased from 3.0 to 2.8 million hectares. The estimated yield is unchanged at 5.00 metric tons per hectare, down 9 percent from last year s record but 4 percent above the 5- year average. (For more information, please contact Mark.Lindeman@fas.usda.gov.) Romania Corn: Estimated Yield Matches 35-Year High USDA estimates Romania corn production at 11.5 million metric tons (mmt), 1.5 mmt above last month and 1.3 mmt above 2016/17. Estimated production is 2.0 mmt above the 5-year average. Area is estimated at 2.5 million hectares (mha), same as last month but down 2 percent from last year. Yield is estimated at 4.55 metric tons per hectare (t/ha), up 15 percent from both last month and last year and 24 percent above the 5-year average. Historically, yields in Romania are much lower than those in western Europe. Weather has a strong influence on Romania due to the weather extremes of its continental climate, particularly the high occurrence of heat and dryness during the peak growing period. In the last ten years, 7

106 yield has fluctuated from 1.54 t/ha to 4.55 t/ha, while production has varied from 3.9 mmt to 11.6 mmt. Romania has, by far, the most land dedicated to corn production in the EU, estimated at over 1.0 mha above second-place France. Romania is the second largest corn producer in the EU. There were variable weather conditions in the corn growing regions of Romania this year. The dominant southern area had excellent rainfall while the west experienced high temperatures and drought. As one of the poorer countries in the EU, Romanian farmers have been limited in their technology, but practices are improving. Farmers have been using more hybrid seeds (particularly drought and heat tolerant varieties), planting both early and late varieties to mitigate summer heat and dryness, and applying more fertilizer and herbicides. (For more information, please contact Indonesia Palm Oil: Crop Yields and Production Rebound Strongly Indonesia palm oil production is forecast at a record 38.5 million metric tons (mmt), up 2.5 million or 7 percent from both last month and last year. Harvested area is estimated at a record 9.5 million hectares (mha), up 3 percent from last year, while yield is estimated up 4 percent at 4.05 tons per hectare. Monthly palm oil production rose to record levels from February to September 2017, as trees fully recovered from lingering El Niño-related drought stress. The higher estimated production is also attributed to continued area expansion. Harvested (mature) oil palm area has been increasing at an average annual rate of 372,000 hectares over the last two decades despite an international moratorium meant to curtail deforestation and land conversion. Total harvested oil palm area has increased roughly 7.1 mha or 345 percent over the past 20 years. Indonesian palm oil yields have also steadily increased over the same time period, averaging 3 percent annual growth. This has been achieved through large-scale plantings of highyielding varieties, improved agronomic management, and crop extension activities. The marketing year period begins in October 2017 and runs through September (For more information, please contact Michael.Shean@fas.usda.gov.) Malaysia Palm Oil: Record Production Estimate Malaysia s palm oil production is estimated at a record 20.5 million metric tons, down 0.5 million or 2 percent from last month, but up 9 percent from last year. Mature oil palm area is estimated at a record 5.2 million hectares, up 0.3 million hectares or 6 percent from last year. 8

107 Yield is estimated at 3.94 tons per hectare, which is up 2 percent from last year, but 5 percent below the 5-year average. Palm oil yields and production are expected to recover this season as a more favorable rainfall pattern is expected to prevail in all major producing areas. However, a shortage of plantation labor is continuing to cause uncertainty regarding harvest capabilities. A sizable portion of annual fresh fruit bunch (FFB) production will remain unharvested owing to insufficient labor. This has led to periods of below-average monthly production, as was evident in 2016/17. USDA s forecast assumes some improvement in the situation. The rate of new oil palm plantings has also reportedly increased following 3 years of government subsidies targeting oldgrowth areas managed by smallholders. New acreage has also reportedly been coming into production with the conversion of old rubber plantations in Peninsular Malaysia. The marketing year period begins in October 2017 and runs through September (For more information, please contact Michael.Shean@fas.usda.gov.) Senegal Peanuts: Estimated Record Yield Senegal s peanut production for is estimated at 1.4 million metric tons (mmt), up 0.3 mmt from last month and up 0.45 mmt from last year. Harvested area is estimated at 1.25 million hectares (mha), up 0.05 mha from last month and up 0.1 mha from last year. Yield is estimated at a record 1.12 metric tons per hectare, up 37 percent from last year and up 33 percent from the 5-year average yield. Senegal s planting season is from June through July and harvest is from September to the end of October. Rainfall from June through August was above average while September s rainfall was below average. Crops planted in early June were able to reach maturity and were not affected by September s drought. The early-sown crop (which accounts for 85 percent of the peanut area) had bumper yields, while yields for the late-sown crop (15 percent) were reduced by September s drought. (For more information, please contact Curt.Reynolds@fas.usda.gov.) 9