World Agricultural Outlook Board Interagency Commodity Estimates Committee Forecasts Lockup Briefing
World Wheat Production Country or Region estimate 2012/13 previous month Million Tons Percent Percent World 696.9 655.4 0.0-6.0 United States 54.4 61.8 0.0 13.5 Foreign 642.5 593.7 0.0-7.6 Argentina 15.5 11.0 0.0-29.0 Canada 25.3 27.2 0.0 7.6 Australia 29.9 22.0 0.0-26.5 European Union 137.2 132.0-0.2-3.8 Russian Federation 56.2 37.7 0.0-32.9 Ukraine 22.3 15.8 0.0-29.4 Kazakhstan 22.7 9.8 0.0-56.7 China 117.4 120.6 0.0 2.7 India 86.9 94.9 0.0 9.2
U.S. Wheat Supply and Demand estimate 2012/13 last month Percent Percent Planted area (million acres) 54.4 55.7 0.0 2.4 Harvested area (million acres) 45.7 49.0 0.0 7.2 Yield (bushels per acre) 43.7 46.3 0.0 5.9 Million bushels Beginning stocks 862 743 0.0-13.9 Production 1,999 2,269 0.0 13.5 Imports 112 130 0.0 16.0 Total supply 2,974 3,142 0.0 5.7 Food use 941 950 0.0 0.9 Seed 76 76 1.0-0.3 Feed and residual 164 360-4.0 119.7 Domestic use 1,182 1,386-1.0 17.3 Exports 1,050 1,025 0.0-2.3 Total use 2,231 2,411-0.6 8.1 Ending stocks 743 731 2.0-1.6 Percent Stocks to use ratio 33.3 30.3 Dollars per bushel Average market price 7.24 7.70/7.90 0.0 7.7
World Rice Production Country or Region estimate 2012/13 previous month Million Tons Percent Percent World 465.8 467.6-0.1 0.4 United States 5.9 6.3-0.4 8.0 Foreign 459.9 461.3-0.1 0.3 Brazil 7.9 8.2 0.0 3.4 Egypt 4.3 4.7 0.0 10.6 Bangladesh 33.7 34.0 0.0 0.9 Cambodia 4.3 4.6 0.0 7.8 China 140.7 143.0 0.0 1.6 India 105.3 101.0 0.0-4.1 Indonesia 36.5 37.5 1.6 2.7 Japan 7.6 7.8 0.0 1.4 Sri Lanka 3.3 2.7 0.0-20.0 Pakistan 6.2 6.0-11.8-3.2 Philippines 10.7 11.4 3.3 6.1 Thailand 20.5 20.2-1.5-1.3 Vietnam 27.2 27.7-0.2 1.8
U.S. Rice Supply and Demand Rough Equivalent of Rough and Milled Rice estimate 2012/13 last month Percent Percent Planted area (million acres) 2.69 2.70 0.0 0.4 Harvested area (million acres) 2.62 2.68 0.0 2.3 Yield (pounds per acre) 7,067 7,449 0.0 5.4 Million cwt Beginning stocks 48.5 41.1 0.0-15.2 Production 184.9 199.5 0.0 7.9 Imports 19.4 21.5 0.0 11.0 Total supply 252.8 262.1 0.0 3.7 Domestic use 110.1 120.0-4.0 9.0 Exports 101.6 108.0 0.0 6.3 Total use 211.7 228.0-2.1 7.7 Ending stocks 41.1 34.1 17.2-17.1 Percent Stocks to use ratio 19.4 14.9 Dollars per cwt Average market price 14.50 14.60/15.20 0.0 2.8
World Corn Production Country or Region estimate 2012/13 previous month Million Tons Percent Percent World 882.5 855.9 0.2-3.0 United States 313.9 273.8 0.0-12.8 Foreign 568.6 582.1 0.3 2.4 Argentina 21.0 26.5 0.0 26.2 Brazil 73.0 74.0 2.1 1.4 Mexico 18.7 21.5 0.0 14.8 Canada 11.4 13.1 0.0 15.0 European Union 66.2 56.1 2.6-15.3 FSU-12 34.1 32.4 0.7-5.1 Ukraine 22.8 20.9 0.0-8.4 South Africa 12.4 12.5-3.8 0.7 China 192.8 208.0 0.0 7.9 India 21.6 21.0 0.0-2.6
U.S. Corn Supply and Demand estimate 2012/13 last month Percent Percent Planted area (million acres) 91.9 97.2 0.0 5.7 Harvested area (million acres) 84.0 87.4 0.0 4.0 Yield (bushels per acre) 147.2 123.4 0.0-16.2 Million bushels Beginning stocks 1,128 989 0.0-12.3 Production 12,360 10,780 0.0-12.8 Imports 29 125 0.0 331.5 Total supply 13,516 11,894 0.0-12.0 Feed and residual 4,545 4,400-3.3-3.2 Food, seed, and industrial 6,439 5,937 0.8-7.8 Ethanol 5,011 4,550 1.1-9.2 Domestic use 10,985 10,337-1.0-5.9 Exports 1,543 800-3.0-48.1 Total use 12,527 11,137-1.1-11.1 Ending stocks 989 757 19.8-23.4 Percent Stocks to use ratio 7.9 6.8 Dollars per bushel Average market price 6.22 6.65/7.15-2.8 10.9
World Soybean Production Country or Region estimate 2012/13 previous month Million Tons Percent Percent World 239.8 269.6 0.6 12.5 United States 84.2 82.1 0.0-2.5 Foreign 155.6 187.6 0.9 20.6 Argentina 40.1 51.5 0.0 28.4 Brazil 66.5 83.5 0.0 25.6 Paraguay 4.4 8.4 7.7 92.0 Ukraine 2.3 2.4 0.0 6.2 India 11.0 11.5 0.0 4.5 China 14.5 12.6 0.0-13.0
U.S. Soybean Supply and Demand 2012/13 estimate last month Percent Percent Planted area (million acres) 75.0 77.2 0.0 2.9 Harvested area (million acres) 73.8 76.1 0.0 3.2 Yield (bushels per acre) 41.9 39.6 0.0-5.5 Million bushels Beginning stocks 215 169 0.0-21.2 Production 3,094 3,015 0.0-2.5 Imports 16 20 0.0 23.9 Total supply 3,325 3,204 0.0-3.6 Crush 1,703 1,635 1.2-4.0 Seed and residual 90 95-20.8 4.7 Domestic use 1,793 1,730-0.3-3.6 Exports 1,362 1,350 0.4-0.9 Total use 3,155 3,080 0.0-2.4 Ending stocks 169 125-0.1-26.4 Percent Stocks to use ratio 5.4 4.0 Dollars per bushel Average market price 12.50 13.80/14.80 0.0 14.4
World Cotton Production Country or Region estimate 2012/13 previous month Million Bales Percent Percent World 124.1 119.7-0.1-3.5 United States 15.6 17.3 1.6 11.0 Foreign 108.5 102.4-0.4-5.6 Argentina 1.0 0.8-1.9-21.5 Brazil 8.7 5.8-7.9-33.3 Turkey 3.4 2.6 0.0-24.4 Australia 5.5 4.2 0.0-23.6 China 33.1 35.0 0.0 5.7 India 27.5 25.5 0.0-7.3 Pakistan 10.6 9.3 0.0-12.3 Uzbekistan 4.2 4.5 0.0 7.1 African Franc Zone 3.1 4.2 0.0 38.3
U.S. Cotton Supply and Demand estimate 2012/13 last month Percent Percent Planted area (million acres) 14.74 12.32 0.0-16.4 Harvested area (million acres) 9.46 9.43 0.0-0.4 Yield (pounds per acre) 790 880 1.6 11.4 Million bales Beginning stocks 2.60 3.35 0.0 28.8 Imports 0.02 0.01 0.0 Production 15.57 17.29 1.6 11.0 Total supply 18.19 20.65 1.4 13.5 Mill use 3.30 3.40 0.0 3.0 Exports 11.71 13.00 2.0 11.0 Total use 15.01 16.40 1.5 9.2 Unaccounted -0.17 0.05 Ending stocks 3.35 4.20 0.0 25.4 Percent Stocks/use 22.3 25.6 Cents per pound Average market price 88.3 70.5/73.5 0.7-18.5
Mexico Sugar Supply and Demand 2012/13 estimate last month Thousand MT Percent Percent Beginning stocks 760 966 0.8 27.1 Production 5,048 6,117 3.9 21.2 Imports 476 112 0.0-76.5 Total Supply 6,284 7,195 3.4 14.5 Domestic use 4,389 4,540 0.0 3.4 Exports 929 1,520 11.0 63.6 Total Use 5,318 6,060 2.5 14.0 Ending stocks 966 1,135 8.1 17.5
U.S. Sugar Supply and Demand estimate 2012/13 last month 1,000 short tons, raw value Percent Percent Beginning Stocks 1,378 1,985 0.0 44.0 Production 8,488 8,980-2.0 5.8 Beets 4,900 5,100-3.8 4.1 Cane 3,588 3,880 0.5 8.1 Imports 3,631 3,036 2.0-16.4 TRQ 1,883 1,154 0.0-38.7 Re-export 664 225 0.0-66.1 Mexico 1,071 1,647 3.7 53.8 High-tier 13 10 0.0-23.1 Total Supply 13,497 14,001-0.9 3.7 Exports 269 175 0.0-34.9 Domestic deliveries 11,243 11,690 0.9 4.0 Total use 11,512 11,865 0.8 3.1 Ending stocks 1,985 2,136-9.4 7.6 Percent Stocks/use ratio 17.2 18.0
U.S. Meat Production and Prices 2012 2013 last month 2012 Production Billion pounds Percent Percent Beef 25.91 24.88-0.9-4.0 Pork 23.25 23.51 0.6 1.1 Broilers 37.04 37.91 0.0 2.4 Turkey 5.97 6.11-1.1 2.4 Total meat 92.96 93.19-0.2 0.2 Prices Dollars/cwt Steers 122.86 128.63 0.0 4.7 Hogs 60.88 59.01-6.2-3.1 Cents/lb Broilers 86.6 100.4 5.5 15.9 Turkey 105.6 101.0-0.6-4.3
U.S. Meat Trade Million Pounds 2012 2013 last month 2012 Exports Percent Percent Beef 2,455 2,425-0.6-1.2 Pork 5,384 5,205-3.0-3.3 Broilers 7,281 7,200-0.7-1.1 Turkey 800 800-3.6 0.0 Mature Chickens 90 90 0.0 0.0 Total meat 16,021 15,737-1.6-1.8 Imports Beef 2,219 2,565 0.4 15.6
U.S. Milk Supply and Demand 2012 2013 last month 2012 Billion pounds Percent Percent Production 200.3 201.8-0.1 0.7 Imports 4.1 3.9-2.0-4.5 Commercial use 193.3 196.1-0.3 1.4 Exports 8.8 9.4 0.0 6.6 Average market price 1/ Dollars/cwt Class III 17.44 18.10 1.4 3.8 Class IV 16.01 18.40 4.0 15.0 All milk 18.51 19.70 2.1 6.4 1/ Prices are mid-point of published s; milk of average fat test.
U.S. Production Summary 2012/13 estimate last month Percent Percent Crops and Products Wheat (Million bu) 1,999 2,269 0.0 13.5 Rice (Million cwt) 184.9 199.5 0.0 7.9 Corn (Million bu) 12,360 10,780 0.0-12.8 Sorghum (Million bu) 214 247 0.0 15.2 Barley (Million bu) 156 220 0.0 41.4 Oats (Million bu) 54 64 0.0 19.3 Soybeans (Million bu) 3,094 3,015 0.0-2.5 Soybean oil (Million lbs) 19,740 19,210 1.2-2.7 Soybean meal (Thousand s.t.) 41,025 38,900 1.2-5.2 Cotton (Million bales) 15.57 17.29 1.6 11.0 Sugar (Thousand s.t., raw value) 8,488 8,980-2.0 5.8 Milk (Billion lbs) 200.3 201.8-0.1 0.7 Meat (Billion lbs) Beef 25.91 24.88-0.9-4.0 Pork 23.25 23.51 0.6 1.1 Broilers 37.04 37.91 0.0 2.4 Turkey 5.97 6.11-1.1 2.4 Total Meat 92.96 93.19-0.2 0.2
Domestic Demand Summary 2012/13 estimate last month Percent Percent Crops and Products Wheat (Million bu) 1,182 1,386-1.0 17.3 Rice (Million cwt) 110.1 120.0-4.0 9.0 Corn (Million bu) 10,985 10,337-1.0-5.9 Sorghum (Million bu) 156 175 2.9 12.4 Barley (Million bu) 193 220 2.3 14.2 Oats (Million bu) 158 176 6.0 11.4 Soybeans (Million bu) 1,793 1,730-0.3-3.6 Soybean oil (Million lbs) 18,310 18,100 1.1-1.1 Soybean meal (Thousand s.t.) 31,550 29,900 0.0-5.2 Cotton (Million bales) 3.30 3.40 0.0 3.0 Sugar (Thousand s.t., raw value) 11,243 11,690 0.9 4.0 Milk (Billion lbs) 193.3 196.1-0.3 1.4 Meat (Billion lbs) Beef 25.77 25.17-0.8-2.3 Pork 18.60 19.09 1.5 2.6 Broilers 29.41 30.43 0.1 3.5 Turkey 5.03 5.25-0.6 4.3 Total meat 79.66 80.79 0.1 1.4
U.S. Export Summary 2012/13 estimate last month Percent Percent Crops and products Wheat (Million bu) 1,050 1,025 0.0-2.3 Rice (Million cwt) 101.6 108.0 0.0 6.3 Corn (Million bu) 1,543 800-3.0-48.1 Sorghum (Million bu) 63 80 0.0 26.2 Barley (Million bu) 9 8 0.0-9.5 Soybeans (Million bu) 1,362 1,350 0.4-0.9 Soybean oil (Million lbs) 1,464 2,300 0.0 57.1 Soybean meal (Thousand s.t.) 9,741 9,350 5.1-4.0 Cotton (Million bales) 11.71 13.00 2.0 11.0 Meat (Million lbs) Beef 2,455 2,425-0.6-1.2 Pork 5,384 5,205-3.0-3.3 Broilers 7,281 7,200-0.7-1.1 Turkey 800 800-3.6 0.0 Mature Chickens 90 90 0.0 0.0 Total meat 16,021 15,737-1.6-1.8
Price Summary 2012/13 estimate last month Percent Percent Crops and products Wheat ($/bu) 7.24 7.80 0.0 7.7 Rice ($/cwt) 14.50 14.90 0.0 2.8 Corn ($/bu) 6.22 6.90-2.8 10.9 Soybeans ($/bu) 12.50 14.30 0.0 14.4 Soybean oil ( /lb) 51.90 49.00-2.0-5.6 Soybean meal ($/s.t.) 393.53 425.00-2.3 8.0 Cotton ( /lb) 88.30 72.00 0.7-18.5 Livestock Steers ($/cwt) 122.9 128.6 0.0 4.7 Hogs ($/cwt) 60.9 59.0-6.2-3.1 Broilers ( /lb) 86.6 100.4 5.5 15.9 Turkeys ( /lb) 105.6 101.0-0.6-4.3 Dairy products Cheese 1.71 1.76 1.3 3.2 Butter 1.59 1.60 1.0 0.3 Nonfat dry milk 1.33 1.60 4.7 20.8 Dry whey 0.59 0.62 0.7 4.5 Milk classes Class III ($/cwt) 17.44 18.10 1.4 3.8 Class IV ($/cwt) 16.01 18.40 4.0 15.0 All milk ($/cwt) 18.51 19.70 2.1 6.4