World Agricultural Supply and Demand Estimates - U.S. Department ...

ISSN: 1554-9089

Office of the Chief Economist

WASDE - 571

World Agricultural Supply and Demand Estimates Agricultural Marketing Service Farm Service Agency

Economic Research Service Foreign Agricultural Service

Approved by the World Agricultural Outlook Board

November 9, 2017

WHEAT: Projected U.S. 2017/18 ending stocks are lowered 25 million bushels due to increased exports. Recent sales to Iraq support a higher export projection with Hard Red Winter accounting for the entire increase. The latest NASS Flour Millings Products report, issued November 1, indicated only a modest increase for food use for 2016/17 and supported the current projection of 950 million bushels for 2017/18. Ending stocks are projected at 935 million bushels, down 246 million from the previous year but still above the 5-year-average. The season-average farm price is unchanged at a midpoint of $4.60. Global 2017/18 wheat supplies are down fractionally with decreased beginning stocks but increased production. Global production is raised 0.8 million tons led by a 1.0-million-ton increase for Russia and a 0.5-million-ton increase for the EU on updated harvest results. Partly offsetting is a 0.5-million-ton decrease for Pakistan. Exports are raised 0.6 million tons with the United States and Russia up 0.7 million, and 0.5 million, respectively. Australia exports are lowered 0.5 million. Global use is raised fractionally this month. With supplies decreasing and total use increasing, ending stocks are lowered 0.6 million tons but remain record large. COARSE GRAINS: This month’s 2017/18 U.S. corn outlook is for larger production, increased feed and residual use and exports, and greater ending stocks. Corn production is forecast at 14.578 billion bushels, up 298 million from last month on a record-high yield. Feed and residual use is raised 75 million bushels based on a larger crop. Exports are raised 75 million bushels, reflecting expectations of improved U.S. competitiveness, reduced exports for Ukraine, and increased demand from Mexico based on sharply lower sorghum production prospects. With supply rising faster than use, corn ending stocks are up 147 million bushels from last month. The projected range for the season-average corn price received by producers is unchanged with a midpoint of $3.20 per bushel. Global coarse grain production for 2017/18 is forecast 3.2 million tons higher to 1,322.6 million. The 2017/18 foreign coarse grain outlook is for lower production, reduced consumption, and smaller stocks relative to last month. Foreign corn production is forecast lower mostly reflecting reductions for Ukraine, Russia, and Vietnam that are only partially offset by an increase for the European Union. The projected corn yields for Russia and Ukraine are reduced based on reported harvest results to date. Sorghum production in Mexico is lowered based on area indications from the government and lower forecast yields as a result of the prevalence of the sugarcane aphid. Corn exports are lowered for Ukraine but raised for the United States. Imports are raised for Mexico and Canada, but lowered for South Korea. China’s barley imports are raised reflecting expectations of continued demand for imported feedstuffs. Foreign corn ending stocks are down from last month, mostly reflecting declines for China, Vietnam, Canada, and

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Ukraine that more than offset increases for the EU and Argentina. Global corn stocks, at 203.9 million tons, are up 2.9 million from last month. RICE: Total 2017/18 U.S. rice supplies are increased marginally this month to 248.9 million cwt as higher projected imports (primarily Thai fragrant rice) offset slightly lower production. In the November Crop Production report, NASS reduced the 2017/18 U.S. crop size by 0.2 million cwt to 178.4 million on lower forecast yield. This is 20 percent less than last year and would be the lowest U.S. rice production since 1996/97. Projected U.S. rice exports are reduced by 2 million cwt to 104 million, down 1 million each for both long- and medium- and short- grain rice to 74 and 30 million cwt, respectively. Exports for both classes are projected lower than last year due to reduced exportable supplies, greater competition, and higher U.S. prices. Projected 2017/18 ending stocks are increased 2.1 million cwt to 29.9 million, still the lowest all rice ending stocks since 2007/08. The projected 2017/18 season-average farm price for all rice is reduced 20 cents at both ends of the range to $12.50 to $13.50 per cwt based on monthly NASS prices reported to date and price expectations for the rest of the marketing year. The midpoint of $13.00 per cwt is $2.60 above the previous year. Global 2017/18 rice supplies are decreased to 619.3 million tons, primarily on a smaller crop projected for India. World 2017/18 consumption is down fractionally to 480.4 million tons. Global 2017/18 trade is raised to 44.9 million tons on higher exports by Thailand, Vietnam, Burma, and China more than offsetting reductions for India, Pakistan, and the United States. Trade is still below the 2016/17 record of 45.3 million tons. World ending stocks are lowered this month to 138.9 million tons for 2017/18, still higher than last year and at the highest level since 2000/01. OILSEEDS: Total U.S. oilseed production for 2017/18 is projected at 132.1 million tons, down 0.1 million from last month due to lower soybean and peanut production. Soybean production is forecast at 4,425 million bushels, down 5 million due to a fractionally lower yield. With use unchanged, soybean ending stocks are projected at 425 million bushels. Prices for soybeans and soybean meal are raised this month. The U.S. season-average soybean price is projected at $9.30 per bushel, up 10 cents at the midpoint. The soybean meal price is projected at $295 to $335 per short ton, up 5 dollars on both ends of the range. The soybean oil price projection is unchanged at 32.5 to 36.5 cents per pound. The foreign oilseed supply and demand forecasts for 2017/18 include higher production, exports, and stocks compared to last month. Foreign production is forecast at 446.7 million tons, up 2.0 million with higher soybean, peanut, cottonseed, and rapeseed partly offset by lower sunflowerseed. Soybean production for Brazil is increased 1 million tons to 108 million on higher reported area for Parana and Rio Grande do Sul. Peanut production is increased for India on higher yields for the state of Gujarat. Sunflowerseed production is lower for Ukraine, Argentina, and South Africa. Major foreign soybean trade changes for 2017/18 include higher exports for Brazil and Paraguay, with increased soybean imports for China. Foreign soybean ending stocks for 2017/18 are up from last month, mostly reflecting increases for China, Argentina, and Brazil. SUGAR: Changes in supply and use for 2016/17 in both the United States and Mexico are made on the basis of full fiscal year data published by USDA in Sweetener Market Data and by CONADESUCA in their September National Balance Report. U.S. beet sugar production is estimated at 5.101 million short tons, raw value (STRV) after record production in the

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month of September. U.S. deliveries for human consumption are reported at 12.130 million STRV, a reduction of 70,411 from last month’s estimate, likely due to stronger-than-expected hurricane-related operational and shipping disruptions in the final months of 2016/17. U.S. ending stocks are estimated at 1.834 million STRV, up 102,294 over last month for an ending stocks-to-use ratio of 14.8 percent. In Mexico, deliveries for human consumption are estimated at 4.515 million metric tons (MT). Along with an increase of deliveries of high fructose corn syrup (HFCS) to 1.531 million MT, dry weight, per capita domestic sweetener consumption in Mexico is estimated at 48.5 kilograms, up from the previously estimated 47.8. Mexico ending stocks are estimated at 1.002 million MT, a reduction of 43,749 from last month. For 2017/18 imports in Mexico are increased by 20,000 MT, in line with reported 2016/17 import estimates. Deliveries for human consumption are increased by 48,555 MT to 4.582 million MT on the basis of unchanged per capita sweetener consumption and projected total HFCS consumption equal to the previous year estimate. The combination of reduced supply and increased use implies sugar available for export to the U.S. market at 1.450 million MT, a reduction of 81,044 from last month. This amount allows Mexico to maintain an ending stocks-to-consumption bound of 18.0 percent for anticipated use in 2018/19. For 2017/18, the increase in U.S. beginning stocks are more than offset by slightly lower beet sugar production, reduction in imports from Mexico, and fewer expected 2016/17 raw sugar tariff-rate quota imports entering after September 30. Total supply is reduced by 44,741 STRV. Deliveries for human consumption are reduced by 123,000 STRV to 12.400 million. Ending stocks are projected up 78,259 STRV to 1.775 million for an implied stocks-to-use ratio of 14.1 percent. LIVESTOCK, POULTRY, AND DAIRY: The forecast for 2017 total red meat and poultry production is lowered from last month as lower beef, pork, and turkey production more than offsets higher broiler production. Beef production is reduced from the previous month on a slower expected marketing pace for fed cattle in the fourth quarter and lighter carcass weights. The pork production forecast is reduced as lower expected fourth-quarter commercial hog slaughter more than offsets slightly heavier carcass weights. The broiler production forecast is raised on third-quarter slaughter data, but no change is made to the fourth-quarter forecast. The turkey forecast is reduced slightly on lower than expected thirdquarter slaughter data; no change is made to the fourth quarter forecast. The 2017 egg production forecast is lowered from last month as lower table egg production more than offset higher hatching egg production. For 2018, the total red meat and poultry forecast is raised from the previous month as higher expected beef and pork production more than offsets lower turkey production. Beef production is raised from last month as higher expected placements in the latter part of 2017 and first-half 2018 are expected to support higher marketings and fed cattle slaughter in 2018. However, carcass weights are expected to be slightly lower. Pork production is raised from last month on higher expected first-quarter slaughter and slightly heavier carcass weights; no changes are made to outlying quarters. The 2018 broiler production forecast is unchanged from the previous month. Turkey production forecasts are lowered on weakness in prices which will dampen expansion in 2018. The 2018 egg production forecast is raised from last month.

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The beef import forecast for 2017 is raised from the previous month, but no changes are made to the 2018 beef import forecasts. Beef export forecasts for 2017 and 2018 are raised from the previous month on expected strong global demand for U.S. beef. For 2017, the pork import forecast was reduced fractionally on recent third-quarter trade data, but no change is made to the outlying pork import forecasts. The 2017 and 2018 pork export forecasts are lowered from the previous month on slower-than-expected export demand in the third quarter which will carry forward into 2018. Both 2017 and 2018 broiler export forecasts are reduced from the previous month on an expected slower pace in global demand. The annual turkey import forecast is reduced for 2017, while the export forecast is raised. No changes are made to 2018 turkey trade forecasts. Cattle prices are raised for 2017 and first-half 2018. The hog price forecast is unchanged for 2017, but the first-quarter 2018 hog price forecast is reduced on larger slaughter hog availability. However, the annual hog price forecast remains unchanged. The 2017 and 2018 broiler price forecasts remain unchanged from the previous month. Turkey price forecasts are lowered for both 2017 and 2018 reflecting current price weakness. The 2017 egg price forecast is raised on strong fourth-quarter demand. The first-quarter 2018 egg price forecast is raised. The milk production forecast for 2017 and 2018 is lowered from the previous month on an expected slower pace of growth in milk per cow and slightly lower cow numbers. For 2017, the fat basis import forecast is lowered on recent trade data and the expectation of slower cheese imports in the fourth quarter; the forecast is raised for 2018 on higher expected shipments of whole milk powder and butter. The 2017 skim-solids basis import forecast is reduced on lower-than-expected imports of milk protein concentrates and a number of other dairy products. This weakness is expected to carry over into 2018, supporting a lower import forecast. Fat basis exports are reduced for both 2017 and 2018 on lower butter and cheese exports. Skim-solids basis export forecasts are also reduced for both 2017 and 2018 on lower expected shipments of skim milk powder and whey products. For 2017, butter, nonfat dry milk (NDM), and whey prices are lowered from the previous month, but the price forecast for cheese is raised. For 2018, all dairy product prices are lowered on large supplies and global competition. The 2017 Class III price is unchanged from last month as the decline in whey is offset by the higher cheese price. The Class IV price forecast is reduced from the previous month on lower forecast butter and NDM prices. For 2018 both the Class III and Class IV prices are lowered due to lower forecast product prices. The 2017 all milk price forecast is reduced to $17.65 to $17.75 per cwt and the 2018 price is lowered to $16.90 to $17.80 per cwt. COTTON: This month’s 2017/18 U.S. cotton estimates include higher production and ending stocks, as a smaller crop in the West is more than offset by gains in the Southwest and other regions. While the U.S. production forecast is raised 1 percent, to 21.4 million bales, domestic mill use and exports are unchanged. U.S. ending stocks are now estimated 300,000 bales higher at 6.1 million bales and, at 34 percent, are forecast at their highest share of use since 2008/09. The marketing-year average price received by producers is forecast at 63 cents per pound, 3 cents above the October estimate, reflecting prices to date. The 2017/18, world cotton forecasts include lower beginning stocks, higher consumption, and lower ending stocks. World production is raised 596,000 bales, as larger expected crops

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in China and the United States offset a 200,000-bale decline in the forecast for Australia. But world 2017/18 ending stocks are forecast 1.5 million bales lower this month—a 1.6-percent decline—as revised historical data results in a 900,000-bale decline in estimated beginning stocks. Argentina’s 740,000-bale decline in beginning stocks is accompanied by smaller declines in the estimates for Australia and Uzbekistan. World 2017/18 consumption is forecast 1.2 million bales higher than last month, with increases of 300,000-550,000 bales in the forecasts for Uzbekistan, China, and Bangladesh. World trade is forecast 180,000 bales lower as a 400,000-bale decline in expected exports by Uzbekistan is only partly offset by a 100,000-bale increase for Brazil and smaller increases elsewhere. This month, new government data resulted in upward revisions to consumption going back as much as 10 years in Argentina, Uzbekistan, and Bangladesh. With these historical revisions, world consumption over the past 3 years was raised more than 400,000 bales each year, so a large portion of this month’s increase in expected 2017/18 consumption reflects an upward shift in the historical data. Historical estimates of world trade were also reduced over the past 4 years, largely due to lower estimated Uzbek exports. Details are provided in the November 2017 issue of Cotton: World Markets and Trade https:/apps.fas.usda.gov/psdonline/circulars/cotton.pdf

Approved by the Secretary of Agriculture and the Chairman of the World Agricultural Outlook Board, Seth D. Meyer, (202) 720-6030. This report was prepared by the Interagency Commodity Estimates Committees.

APPROVED BY:

TED A. McKINNEY SECRETARY OF AGRICULTURE DESIGNATE

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INTERAGENCY COMMODITY ESTIMATES COMMITTEES

Note: The World Agricultural Outlook Board reviews and approves the World Agricultural Supply and Demand Estimates (WASDE) report. The Board’s analysts chair the Interagency Commodity Estimates Committees (ICECs) that prepare the monthly report.

Wheat: William Chambers, ICEC Chair, WAOB, E-mail: [email protected] Jennifer Bond, ERS; Andrew Sowell, FAS; Pete Riley, FSA. Rice: William Chambers, ICEC Chair, WAOB, E-mail: [email protected] Nathan Childs, ERS; Rachel Trego, FAS; Sherrie Grimm, FSA. Feed Grains: Michael Jewison, ICEC Chair, WAOB, E-mail: [email protected] Tom Capehart, ERS; Yoonhee Macke, FAS; Thomas Gajnak, FSA. Oilseeds: Keith Menzie, ICEC Chair, WAOB, E-mail: [email protected] Mark Ash, ERS; Bill George, FAS; Susan Proper, FSA. Cotton: Stephen MacDonald, ICEC Chair, WAOB, E-mail: [email protected] Leslie Meyer, ERS; James Johnson, FAS; Erik Dohlman, FSA. Sugar: Stephen Haley, ICEC Chair, WAOB, E-mail: [email protected] Michael McConnell, ERS; Ron Lord, FAS; Barbara Fecso, FSA. Meat Animals: Shayle Shagam, ICEC Chair, WAOB, E-mail: [email protected] Sherry Wise, AMS; Mildred Haley, ERS; Lindsay Kuberka, FAS; Ryan Pfirmann-Powell, FSA. Poultry: Shayle Shagam, ICEC Chair, WAOB, E-mail: [email protected] Larry Haller, AMS; Sean Ramos, ERS; Tyler Cozzens, FAS; Milton Madison, FSA. Dairy: Shayle Shagam, ICEC Chair, WAOB, E-mail: [email protected] Carolyn Liebrand, AMS; Jerry Cessna, ERS; Paul Kiendl, FAS; Milton Madison, FSA.

In 2017, the WASDE report will be released on Dec 12. In 2018, the WASDE report will be released on Jan 12, Feb 8, Mar 8, Apr 10, May 10, Jun 12 Jul 12, Aug 10, Sep 12, Oct 11, Nov 8, and Dec 11.

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T A B L E OF C O N T E N T S Page Highlights............................................................................................................. 1 Interagency Commodity Estimates Committees .................................................... 6 World & U.S. Supply & Use for Grains .................................................................. 8 World & U.S. Supply & Use for Cotton .................................................................. 9 World & U.S. Supply & Use for Oilseeds ............................................................ 10 U.S. Wheat Supply & Use .................................................................................. 11 U.S. Wheat Supply & Use by Class .................................................................... 11 U.S. Feed Grain & Corn Supply & Use ............................................................... 12 U.S. Sorghum, Barley & Oats Supply & Use ....................................................... 13 U.S. Rice Supply & Use ..................................................................................... 14 U.S. Soybeans & Products Supply & Use ........................................................... 15 U.S. Sugar Supply & Use ................................................................................... 16 Mexico Sugar Supply and Use ........................................................................... 16 U.S. Cotton Supply & Use .................................................................................. 17 World Wheat Supply & Use ................................................................................ 18 World Coarse Grains Supply & Use.................................................................... 20 World Corn Supply & Use .................................................................................. 22 World Rice Supply & Use ................................................................................... 24 World Cotton Supply & Use ................................................................................ 26 World Soybean Supply & Use ............................................................................ 28 World Soybean Meal Supply & Use .................................................................... 29 World Soybean Oil Supply & Use ....................................................................... 30 U.S. Quarterly Animal Product Production .......................................................... 31 U.S. Quarterly Prices for Animal Products .......................................................... 31 U.S. Meats Supply and Use ............................................................................... 32 U.S. Egg Supply & Use ...................................................................................... 33 U.S. Milk Supply and Use .................................................................................. 33 U.S. Dairy Prices ............................................................................................... 34 Reliability Tables................................................................................................ 35 Related USDA Reports ...................................................................................... 38 Metric Conversion Factors ................................................................................. 38 Electronic Access and Subscriptions ...................................................................... 40

November 2017 WASDE - 571 - 8 World and U.S Supply and Use for Grains 1/ Million Metric Tons Output

Total Supply

Trade 2/

Total Use 3/

Ending Stocks

2015/16 2016/17 (Est.)

2467.97 2605.76

3060.39 3231.75

376.49 430.93

2434.40 2576.41

625.98 655.34

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

2554.34 2555.72

3211.26 3211.06

409.98 412.74

2572.35 2572.80

638.91 638.25

World Total Grains 4/

Wheat

Coarse Grains 5/

Rice, milled

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2015/16 2016/17 (Est.)

735.26 753.89

953.02 995.24

172.84 182.86

711.66 739.63

241.36 255.61

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

751.19 751.98

1007.76 1007.58

180.04 180.68

739.63 740.05

268.13 267.53

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2015/16 2016/17 (Est.)

1260.14 1365.31

1507.03 1617.33

163.41 202.73

1255.01 1355.71

252.02 261.62

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

1319.36 1322.55

1581.49 1584.17

185.75 187.16

1352.24 1352.39

229.26 231.78

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2015/16 2016/17 (Est.)

472.57 486.57

600.34 619.17

40.24 45.34

467.73 481.07

132.61 138.11

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

483.80 481.20

622.00 619.30

44.19 44.91

480.48 480.36

141.52 138.94

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Output

Total Supply

Trade 2/

Total Use 3/

Ending Stocks

2015/16 2016/17 (Est.)

429.26 472.56

506.00 556.09

81.75 96.92

348.12 363.36

76.14 95.81

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

429.08 436.41

533.27 540.60

82.37 84.89

361.75 363.85

89.15 91.86

United States

Total Grains 4/

Wheat

Coarse Grains 5/

Rice, milled

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2015/16 2016/17 (Est.)

56.12 62.83

79.66 92.60

21.17 28.72

31.94 31.75

26.55 32.13

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

47.37 47.37

83.59 83.59

26.54 27.22

30.92 30.92

26.13 25.45

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2015/16 2016/17 (Est.)

367.01 402.61

417.89 454.15

57.18 64.50

312.60 327.44

48.11 62.21

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

376.04 383.37

441.78 449.11

52.47 54.38

327.18 329.28

62.13 65.45

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2015/16 2016/17 (Est.)

6.13 7.12

8.45 9.34

3.40 3.70

3.58 4.17

1.48 1.46

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

5.67 5.66

7.90 7.90

3.37 3.30

3.65 3.65

0.88 0.95

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1/ Aggregate of local marketing years. 2/ Based on export estimate. See individual commodity tables for treatment of export/import imbalances. 3/ Total use for the United States is equal to domestic consumption only (excludes exports). 4/ Wheat, coarse grains, and milled rice. 5/ Corn, sorghum, barley, oats, rye, millet, and mixed grains (for U.S. excludes millet and mixed grains).

November 2017 WASDE - 571 - 9 World and U.S. Supply and Use for Grains, Continued 1/ Million Metric Tons Output

Total Supply

Trade 2/

Total Use

Ending Stocks

2015/16 2016/17 (Est.)

2,038.71 2,133.20

2,554.38 2,675.66

294.74 334.01

2,086.28 2,213.05

549.84 559.53

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

2,125.26 2,119.31

2,677.99 2,670.46

327.61 327.85

2,210.60 2,208.95

549.77 546.40

Foreign 3/ Total Grains 4/

Wheat

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2015/16 2016/17 (Est.)

679.14 691.06

873.35 902.64

151.67 154.14

679.72 707.88

214.80 223.48

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

703.81 704.60

924.17 924.00

153.51 153.46

708.71 709.14

242.00 242.08

Coarse Grains 5/ 2015/16 2016/17 (Est.)

Rice, milled

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893.13 962.70

1,089.14 1,163.18

106.23 138.23

942.42 1,028.27

203.91 199.41

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

943.31 939.18

1,139.71 1,135.06

133.28 132.78

1,025.06 1,023.11

167.13 166.33

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2015/16 2016/17 (Est.)

466.44 479.45

591.89 609.84

36.85 41.64

464.15 476.90

131.13 136.65

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

478.13 475.53

614.10 611.40

40.82 41.61

476.83 476.71

140.64 137.99

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1/ Aggregate of local marketing years. 2/ Based on export estimate. See individual commodity tables for treatment of export/import imbalances. 3/ Total foreign is equal to world minus United States. 4/ Wheat, coarse grains, and milled rice. 5/ Corn, sorghum, barley, oats, rye, millet, and mixed grains.

World and U.S. Supply and Use for Cotton 1/ Million 480-lb. Bales

World

United States

Foreign 4/

Output

Total Supply

Trade 2/

Total Use 3/

Ending Stocks

2015/16 2016/17 (Est.)

96.15 106.47

207.30 202.38

35.13 37.23

111.71 114.22

95.91 88.67

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

120.86 121.46

210.43 210.12

38.22 38.04

118.01 119.25

92.38 90.88

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2015/16 2016/17 (Est.)

12.89 17.17

16.57 20.98

9.15 14.92

3.45 3.25

3.80 2.75

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

21.12 21.38

23.88 24.14

14.50 14.50

3.35 3.35

5.80 6.10

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2015/16 2016/17 (Est.)

83.26 89.30

190.73 181.40

25.98 22.32

108.26 110.97

92.11 85.92

2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

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99.75 100.08

186.56 185.99

23.72 23.54

114.66 115.90

86.58 84.78

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1/ Marketing year beginning August 1. 2/ Based on export estimate. 3/ Includes mill use only. 4/ Total Foreign is equal to world minus United States. See global cotton tables for treatment of export/import imbalances.

November 2017 WASDE - 571 - 10 World and U.S. Supply and Use for Oilseeds 1/ (Million Metric Tons) Output

Total Supply

Trade

Total Use 2/

Ending Stocks

2015/16 2016/17 (Est.)

521.45 572.95

614.71 663.93

153.20 171.03

446.12 469.41

90.98 108.54

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

576.99 578.82

684.30 687.36

173.91 175.81

488.09 489.15

107.90 109.32

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2015/16 2016/17 (Est.)

306.24 321.28

323.33 337.17

86.70 88.60

303.99 317.38

15.90 15.56

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

334.26 334.89

350.40 350.44

91.24 90.85

331.81 331.91

15.55 15.12

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2015/16 2016/17 (Est.)

176.78 185.99

201.12 206.82

73.44 78.98

177.50 182.28

20.82 19.09

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

194.70 194.49

213.88 213.58

79.67 79.55

188.45 189.03

20.59 19.89

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Output

Total Supply

Trade

Total / Use 2

Ending Stoc ks

2015/16 2016/17 (Est.)

115.88 126.93

123.76 135.30

53.96 60.28

55.05 56.24

6.87 9.62

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2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

132.27 132.14

143.43 143.27

62.43 62.45

57.73 57.69

13.52 13.34

World Oilseeds

Oilmeals

Vegetable Oils

United States Oilseeds

Oilmeals

Vegetable Oils

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2015/16 2016/17 (Est.)

42.78 43.08

47.15 47.28

11.18 10.83

35.69 36.04

0.28 0.41

filler

filler

filler

filler

filler

2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

44.51 44.49

48.87 48.92

11.41 11.41

37.13 37.19

0.33 0.33

filler

filler

filler

filler

filler

2015/16 2016/17 (Est.)

11.21 11.44

17.03 17.37

1.25 1.42

14.58 14.73

1.20 1.23

filler

filler

filler

filler

filler

2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

11.67 11.65

17.75 17.74

1.22 1.22

15.43 15.43

1.11 1.10

filler

filler

filler

filler

filler

Output

Total Supply

Trade

Total Use 2/

Ending Stoc ks

2015/16 2016/17 (Est.)

405.57 446.01

490.95 528.63

99.24 110.76

391.07 413.17

84.12 98.92

filler

filler

filler

filler

filler

2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

444.72 446.68

540.87 544.09

111.48 113.36

430.36 431.46

94.38 95.98

filler

filler

filler

filler

filler

2015/16 2016/17 (Est.)

263.46 278.19

276.18 289.89

75.52 77.77

268.30 281.34

15.62 15.15

filler

filler

filler

filler

filler

2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

289.75 290.40

301.54 301.52

79.84 79.45

294.68 294.72

15.22 14.79

filler

filler

filler

filler

filler

2015/16 2016/17 (Est.)

165.57 174.56

184.10 189.45

72.19 77.57

162.93 167.55

19.62 17.87

filler

filler

filler

filler

filler

2017/18 (Proj.) Oct 2017/18 (Proj.) Nov

183.03 182.83

196.13 195.84

78.45 78.33

173.02 173.60

19.48 18.79

filler

filler

filler

filler

filler

Foreign 3/ Oilseeds

Oilmeals

Vegetable Oils

1/ Aggregate of local marketing years with Brazil and Argentina on an Oct.-Sept. year. 2/ Crush only for oilseeds. 3/ Total Foreign is equal to World minus United States.

November 2017 WASDE - 571 - 11 U.S. Wheat Supply and Use 1/ 2015/16

Area Planted Area Harvested

55.0 47.3

Yield per Harvested Acre

43.6

Beginning Stocks Production Imports Supply, Total Food Seed Feed and Residual Domestic, Total Exports Use, Total Ending Stocks Avg. Farm Price ($/bu) 2/

752 2,062 113 2,927 957 67 149 1,174 778 1,951 976 4.89

2016/17 Est.

2017/18 Proj.

2017/18 Proj.

Oct

Nov

Million Acres 50.1 46.0 43.9 37.6 Bushels 52.7 46.3 Million Bushels 976 1,181 2,309 1,741 118 150 3,402 3,071 949 950 61 66 156 120 1,167 1,136 1,055 975 2,222 2,111 1,181 960 3.89 4.40 - 4.80

46.0 37.6 46.3 1,181 1,741 150 3,071 950 66 120 1,136 1,000 2,136 935 4.40 - 4.80

U.S. Wheat by Class: Supply and Use Year beginning June 1

Hard Red Winter

Hard Red Spring

Soft Red Winter

White

Durum

Total

Million

Bushels

2016/17 (Est.)

Beginning Stocks Production Supply, Total 3/ Domestic Use Exports Use, Total Ending Stocks, Total

446 1,082 1,533 488 455 943 589

272 491 805 249 321 570 235

157 345 535 228 92 320 215

74 286 368 99 163 263 105

28 104 162 101 24 126 36

976 2,309 3,402 1,167 1,055 2,222 1,181

2017/18 (Proj.)

Beginning Stocks Production Supply, Total 3/ Domestic Use Exports Use, Total Ending Stocks, Total Ending Stocks, Total

589 750 1,346 470 415 885 461 487

235 385 693 271 265 536 157 162

215 292 524 212 90 302 222 221

105 258 372 95 210 305 67 63

36 55 136 88 20 108 28 27

1,181 1,741 3,071 1,136 1,000 2,136 935 960

Nov Oct

Note: Totals may not add due to rounding. 1/ Marketing year beginning June 1. 2/ Marketing-year weighted average price received by farmers. 3/ Includes imports.

November 2017 WASDE - 571 - 12 U.S. Feed Grain and Corn Supply and Use 1/ 2015/16

2016/17 Est.

FEED GRAINS

Area Planted Area Harvested Yield per Harvested Acre Beginning Stocks Production Imports Supply, Total Feed and Residual Food, Seed & Industrial Domestic, Total Exports Use, Total Ending Stocks

103.2 93.0 3.94 46.9 366.7 3.7 417.4 135.2 176.9 312.1 57.2 369.3 48.1 2015/16

2017/18 Proj.

2017/18 Proj.

Oct

Nov

Million Acres 106.6 101.2 96.5 90.9 Metric Tons 4.17 4.13 Million Metric Tons 48.1 62.2 402.3 375.8 3.3 3.3 453.6 441.3 144.3 143.6 182.6 183.2 326.9 326.7 64.5 52.5 391.4 379.2 62.2 62.1 2016/17 E st.

101.2 90.9 4.21 62.2 383.1 3.3 448.6 145.5 183.4 328.8 54.4 383.2 65.4

2017/18 Proj.

2017/18 Proj.

October

November

CORN Area Planted Area Harvested Yield per Harvested Acre Beginning Stocks Production Imports Supply, Total Feed and Residual Food, Seed & Industrial 2/ Ethanol & by-products 3/ Domestic, Total Exports Use, Total Ending Stocks Avg. Farm Price ($/bu) 4/

88.0 80.8 168.4 1,731 13,602 68 15,401 5,114 6,648 5,224 11,763 1,901 13,664 1,737 3.61

Million Acres 94.0 90.4 86.7 83.1 Bushels 174.6 171.8 Million Bushels 1,737 2,295 15,148 14,280 57 50 16,942 16,625 5,463 5,500 6,891 6,935 5,439 5,475 12,354 12,435 2,293 1,850 14,647 14,285 2,295 2,340 3.36 2.80 - 3.60

90.4 83.1 175.4 2,295 14,578 50 16,922 5,575 6,935 5,475 12,510 1,925 14,435 2,487 2.80 - 3.60

Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a breakout of FSI corn uses, see Feed Outlook table 5 or access the data on the Web through the Feed Grains Database at www.ers.usda.gov/data-products/feed-grains-database.aspx. 3/ Corn processed in ethanol plants to produce ethanol and by-products including distillers' grains, corn gluten feed, corn gluten meal, and corn oil. 4/ Marketingyear weighted average price received by farmers.

November 2017 WASDE - 571 - 13 U.S. Sorghum, Barley, and Oats Supply and Use 1/ 2015/16

2016/17 Est.

2017/18 Proj.

2017/18 Proj.

Oct

Nov

SORGHUM Million Bushels Filler

Area Planted (mil. acres) Area Harvested (mil. acres) Yield (bushels/acre) Beginning Stocks Production Imports Supply, Total Feed and Residual Food, Seed & Industrial Total Domestic Exports Use, Total Ending Stocks Avg. Farm Price ($/bu) 2/ Filler

Filler

Filler

Filler

Filler

8.5 7.9 76.0 18 597 5 620 107 137 244 340 583 37 3.31

6.7 6.2 77.9 37 480 2 519 129 115 245 241 485 34 2.79

5.7 5.0 72.2 34 364 0 398 60 100 160 210 370 28 2.50 - 3.30

5.7 5.0 70.4 34 356 0 389 60 100 160 210 370 19 2.70 - 3.50

Filler

Filler

Filler

Filler

2015/16

2016/17 E st.

2017/18 Proj.

2017/18 Proj.

October

November

Filler

Filler

Filler

Filler

3.6 3.2 69.1 79 218 19 315 44 158 202 11 213 102 5.52

3.1 2.6 77.9 102 200 10 312 39 162 201 4 205 106 4.96

2.5 2.0 72.6 106 142 15 263 35 153 188 5 193 70 4.10 - 5.10

2.5 2.0 72.6 106 142 15 263 35 162 197 5 202 61 4.10 - 5.10

BARLEY Filler

Area Planted (mil. acres) Area Harvested (mil. acres) Yield (bushels/acre) Beginning Stocks Production Imports Supply, Total Feed and Residual Food, Seed & Industrial Total Domestic Exports Use, Total Ending Stocks Avg. Farm Price ($/bu) 2/ Filler

Filler

Filler

Filler

Filler

2015/16

2016/17 E st.

2017/18 Proj.

2017/18 Proj.

October

November

Filler

Filler

Filler

Filler

3.1 1.3 70.2 54 90 86 229 94 77 170 2 172 57 2.12

2.8 1.0 66.0 57 65 90 212 82 76 158 3 162 50 2.06

2.6 0.8 61.7 50 49 100 200 90 78 168 2 170 30 2.25 - 2.75

2.6 0.8 61.7 50 49 100 200 90 78 168 2 170 30 2.25 - 2.75

Filler

Filler

Filler

Filler

OATS Filler

Area Planted (mil. acres) Area Harvested (mil. acres) Yield (bushels/acre) Beginning Stocks Production Imports Supply, Total Feed and Residual Food, Seed & Industrial Total Domestic Exports Use, Total Ending Stocks Avg. Farm Price ($/bu) 2/ Filler

Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for sorghum; June 1 for barley and oats. 2/ Marketing-year weighted average price received by farmers.

November 2017 WASDE - 571 - 14 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) 2015/16

2016/17 Est.

TOTAL RICE

Area Planted Area Harvested

2.63 2.59

Filler

Yield per Harvested Acre

7,472

Beginning Stocks 2/ Production Imports Supply, Total Domestic & Residual 3/ Exports, Total 4/ Rough Milled (rough equiv.) Use, Total Ending Stocks Avg. Milling Yield (%) 5/ Avg. Farm Price ($/cwt) 6/

48.5 193.1 24.1 265.8 112.4 107.0 39.3 67.7 219.3 46.5 70.00 12.20

2017/18 Proj.

2017/18 Proj.

Oct

Nov

Million Acres 3.15 2.49 3.10 2.39 Pounds 7,237 7,469 Million Hundredweight 46.5 46.0 224.1 178.6 23.5 24.2 294.1 248.8 131.4 115.0 116.7 106.0 42.5 40.0 74.2 66.0 248.0 221.0 46.0 27.8 70.00 70.00 10.40 12.70 - 13.70

2.49 2.39 7,461 46.0 178.4 24.5 248.9 115.0 104.0 38.0 66.0 219.0 29.9 70.00 12.50 - 13.50

Total

2015/16

2016/17 E st.

2017/18 Proj.

2017/18 Proj.

October

November

31.0 126.3 178.3 88.0 75.0 163.0 15.3 12.00 - 13.00

31.0 126.1 178.5 88.0 74.0 162.0 16.5 11.80 - 12.80

LONG-GRAIN RICE Harvested Acres (mil.) Yield (pounds/acre) Beginning Stocks Production Supply, Total 7/ Domestic & Residual 3/ Exports 8/ Use, Total Ending Stocks Avg. Farm Price ($/cwt) 6/ Filler

1.85 7,219 26.5 133.4 180.7 82.1 75.9 158.0 22.7 11.20

2.40 6,927 22.7 166.5 209.4 99.7 78.7 178.4 31.0 9.64

Filler

Filler

Filler

Filler

2015/16

2016/17 E st.

2017/18 Proj.

2017/18 Proj.

October

November

0.74 8,107 20.2 59.7 82.2 30.3 31.0 61.3 20.9 15.30 18.10 11.20

0.69 8,311 20.9 57.7 81.1 31.7 37.9 69.6 11.5 12.90 13.70 10.10

11.5 52.3 67.0 27.0 31.0 58.0 9.0 14.70 - 15.70 15.50 - 16.50 12.20 - 13.20

11.5 52.2 66.9 27.0 30.0 57.0 9.9 14.60 - 15.60 15.50 - 16.50 12.00 - 13.00

Filler

Filler

Filler

Filler

MEDIUM & SHORT-GRAIN RICE Harvested Acres (mil.) Yield (pounds/acre) Beginning Stocks Production Supply, Total 7/ Domestic & Residual 3/ Exports 8/ Use, Total Ending Stocks Avg. Farm Price ($/cwt) 1/ 6/ 9/ California 10/ Other States 1/ Filler

Note: Totals may not add due to rounding. 1/ Marketing year beginning August 1. 2/ Includes the following quantities of broken kernel rice (type undetermined) not included in estimates of ending stocks by type (in mil. cwt): 2015/16-2.9; 2016/17-2.9; 2017/18-2.9. 3/ Residual includes unreported use, processing losses, and estimating errors. Use by type may not add to total rice use because of the difference in brokens between beginning and ending stocks. 4/ Includes rough rice and milled rice exports. Milled rice exports are converted to an equivalent rough basis. 5/ Expressed as a percent, i.e., the total quantity of whole kernel and broken rice produced divided by the quantity of rough rice milled. 6/ Marketing-year weighted average price received by farmers. 7/ Includes imports. 8/ Exports by type of rice are estimated. 9/ The medium/short-grain season-average- farm price (SAFP) largely reflects rice that is marketed through price pools in California. The pool price is not final until all the rice in the pool is marketed for the crop year. Therefore, SAFP forecasts based on the average of NASS monthly prices and the final price may differ. For example, the average difference between the August WASDE SAFP forecast and the final price has averaged $1.65 per cwt from 2008/09-2013/14, with a high of $3.50 per cwt in 2008/09 and a low of $0.60 per cwt in 2009/10. 10/ Marketing year beginning October 1.

November 2017 WASDE - 571 - 15 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ 2015/16

2016/17 Est.

2017/18 Proj.

2017/18 Proj.

Filler

Filler

Oct

Nov

Filler

Filler

82.7 81.7

Million Acres 83.4 82.7

90.2 89.5

90.2 89.5

Yield per Harvested Acre

48.0

Bushels 52.0

49.5

49.5

Beginning Stocks Production Imports Supply, Total Crushings Exports Seed Residual Use, Total Ending Stocks Avg. Farm Price ($/bu) 2/

191 3,926 24 4,140 1,886 1,942 97 18 3,944 197 8.95

197 4,296 22 4,515 1,899 2,174 105 36 4,214 301 9.47

301 4,431 25 4,757 1,940 2,250 101 35 4,326 430 8.35 - 10.05

301 4,425 25 4,752 1,940 2,250 101 35 4,326 425 8.45 - 10.15

2015/16

2016/17 E st.

2017/18 Proj.

2017/18 Proj.

October

November

Filler

Filler

Filler

Filler

Million Pounds 1,687 1,632 22,099 22,505 319 300 24,104 24,437 19,837 20,800 6,200 7,000 13,637 13,800 2,556 2,100 22,393 22,900 1,711 1,537 32.48 32.50 - 36.50

1,711 22,505 300 24,516 20,800 7,000 13,800 2,100 22,900 1,616 32.50 - 36.50

SOYBEANS Filler

Area Planted Area Harvested Filler

Million Bushels

Total

SOYBEAN OIL Filler

Beginning Stocks Production 4/ Imports Supply, Total Domestic Disappearance Biodiesel 3/ Food, Feed & other Industrial Exports Use, Total Ending stocks Avg. Price (c/lb) 2/

1,855 21,950 287 24,092 20,162 5,670 14,492 2,243 22,405 1,687 29.86

Total

2015/16

2016/17 E st.

2017/18 Proj.

2017/18 Proj.

1

2

October

November

3

4

Thousand Short Tons 264 300 44,733 46,100 349 300 45,347 46,700 33,345 34,200 11,601 12,200 44,946 46,400 401 300 316.88 290.00 - 330.00

401 46,099 300 46,800 34,300 12,200 46,500 300 295.00 - 335.00

SOYBEAN MEAL Filler

Beginning Stocks Production 4/ Imports Supply, Total Domestic Disappearance Exports Use, Total Ending Stocks Avg. Price ($/s.t.) 2/

260 44,672 403 45,336 33,118 11,954 45,072 264 324.56

Total

Note: Totals may not add due to rounding. Reliability calculations at end of report. 1/ Marketing year beginning September 1 for soybeans; October 1 for soybean oil and soybean meal. 2/ Prices: soybeans, marketing year weighted average price received by farmers; oil, simple average of crude soybean oil, Decatur; meal, simple average of 48 percent protein, Decatur. 3/ Reflects only biodiesel made from methyl ester as reported by the U.S. Energy Information Administration. 4/ Based on an October year crush of 1,906 million bushels for 2016/17 and 1,940 million bushels for 2017/18.

November 2017 WASDE - 571 - 16 U.S. Sugar Supply and Use 1/ 2015/16

2016/17 Est.

Filler

Filler

Filler

2017/18 Proj.

2017/18 Proj.

Oct

Nov

Filler

Filler

1,732 8,863 4,977 3,886 2,036 0 1,690 160 3,830 1,781 250 1,799 1,789 14,425

1,834 8,836 4,950 3,886 2,036 0 1,690 160 3,710 1,756 250 1,704 1,694 14,380

50 12,678 12,523 155 0 12,728 1,697 13.3

50 12,555 12,400 155 0 12,605 1,775 14.1

Beginning Stocks Production 2/ Beet Sugar Cane Sugar Florida Hawaii Louisiana Texas Imports TRQ 3/ Other Program 4/ Other 5/ Mexico Total Supply

1,815 8,989 5,119 3,870 2,173 152 1,428 116 3,341 1,620 396 1,325 1,309 14,145

1,000 Short Tons,Raw Value 2,054 8,967 5,101 3,866 2,055 43 1,628 140 3,247 1,611 419 1,216 1,204 14,268

Exports Deliveries Food 6/ Other 7/ Miscellaneous Total Use Ending Stocks Stocks to Use Ratio

74 12,051 11,881 170 -33 12,091 2,054 17.0

95 12,286 12,130 156 53 12,434 1,834 14.8

Total

1/ Fiscal years beginning Oct 1. Historical data are from FSA "Sweetener Market Data" (SMD). 2/ Production projections for 2016/17 and 2017/18 are based on Crop Production and processor projections where appropriate. 3/ For 2017/18, WTO raw sugar TRQ shortfall (225). For 2016/17, WTO raw sugar TRQ shortfall is undefined because of 13th month rollover into 2017/18. 4/ Includes sugar under the re-export and polyhydric alcohol programs. 5/ For 2015/16, other high-tier (16) and other (0). For 2016/17, other high-tier (12) and other (0). For 2017/18, other high-tier (10) and other (0). 6/For 2014/15, combines SMD deliveries for domestic human food use and SMD miscellaneous uses. 7/ Transfers to sugar-containing products for reexport, and for nonedible alcohol, feed, and ethanol.

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

Production

Sugar

Imports

Domestic 2/

Exports

Ending Stocks

1,000 Metric Tons, Actual Weight

2016/17 Est. 2016/17 Est.

Oct Nov

1,037 1,037

5,957 5,957

125 118

4,858 4,896

1,215 1,214

1,046 1,002

2017/18 Proj. 2017/18 Proj.

Oct Nov

1,046 1,002

6,100 6,100

75 95

4,864 4,912

1,541 1,460

816 825

1/ HFCS consumption by Mexico (1,000 metric tons, dry basis): Estimated Oct-Sep 2016/17 = 1,531; projected 2017/18 = 1,531. Footnote source for estimate: Comite Nacional para el Desarollo Sustentable de la Cana de Azucar. 2/Includes deliveries for consumption, Mexico's products export program (IMMEX), and Other Deliveries/Ending Year Statistical Adjustments. IMMEX: 2016/17 (397 est), 2017/18 (330 proj). Other Deliveries/Ending Year Statistical Adjustments: 2015/16 (-10), 2016/17 (-16), 2017/18 (0).

November 2017 WASDE - 571 - 17 U.S. Cotton Supply and Use 1/

Filler

Area Planted Harvested

2015/16

2016/17 Est.

Filler

Filler

8.58 8.07

2017/18 Proj.

2017/18 Proj.

Oct

Nov

Filler

Filler

Million Acres 10.07 12.62 9.51 11.41

12.62 11.41

Filler

Yield per Harvested Acre

766

Pounds 867

889

900

2.75 21.12 0.01 23.88 3.35 14.50 17.85 0.23 5.80 55.00 - 65.00

2.75 21.38 0.01 24.14 3.35 14.50 17.85 0.19 6.10 60.00 - 66.00

Million 480 Pound Bales

Beginning Stocks Production Imports Supply, Total Domestic Use Exports, Total Use, Total Unaccounted 2/ Ending Stocks Avg. Farm Price 3/

3.65 12.89 0.03 16.57 3.45 9.15 12.60 0.17 3.80 61.2

3.80 17.17 0.01 20.98 3.25 14.92 18.17 0.06 2.75 68.0

Total

Note: Reliability calculations at end of report. 1/ Upland and extra-long staple; marketing year beginning August 1. Totals may not add due to rounding. 2/ Reflects the difference between the previous season's supply less total use and ending stocks. 3/ Cents per pound for upland cotton.

November 2017 WASDE - 571 - 18 World Wheat Supply and Use 1/ (Million Metric Tons)

2015/16 World 3/ United States Total Foreign Major Exporters 4/ Argentina Australia Canada European Union 5/ Major Importers 6/ Brazil China Sel. Mideast 7/ N. Africa 8/ Pakistan Southeast Asia 9/ Selected Other India FSU-12 Russia Kazakhstan Ukraine

Beginning Stocks 217.76 20.48 197.28 29.27 4.80 4.67 7.10 12.70 113.15 0.87 76.11 13.65 13.22 3.71 3.85

Production 735.26 56.12 679.14 221.65 11.30 22.28 27.59 160.48 205.47 5.54 130.19 19.91 19.98 25.10 0.00

Imports 170.10 3.07 167.03 7.60 0.01 0.15 0.52 6.92 92.35 6.75 3.48 19.19 27.80 0.02 24.60

Domestic Feed 136.50 4.07 132.44 65.66 0.20 3.70 2.76 59.00 27.94 0.50 10.50 4.85 2.28 0.80 8.02

Domestic Total 2/ 711.66 31.94 679.72 150.70 5.80 7.13 7.92 129.85 264.64 11.10 112.00 37.77 43.67 24.40 22.30

Exports 172.84 21.17 151.67 82.52 9.60 16.12 22.11 34.69 6.42 1.06 0.73 0.55 0.70 0.60 0.97

Ending Stocks 241.36 26.55 214.80 25.31 0.72 3.85 5.18 15.56 139.91 1.00 97.04 14.43 16.63 3.83 5.19

17.22 86.53 0.47 4.20 88.55 1.13 14.54 20.66 117.96 7.40 26.74 77.78 51.48 16.77 6.29 61.04 0.82 14.00 37.00 25.54 5.61 3.28 13.75 0.07 2.10 6.90 7.60 2.60 5.68 27.27 0.03 5.10 12.20 17.43 3.35 Beginning Domestic Domestic Ending 2016/17 Est. Stocks Production Imports Feed Total 2/ Exports Stocks World 3/ 241.36 753.89 179.20 147.49 739.63 182.86 255.61 United States 26.55 62.83 3.22 4.26 31.75 28.72 32.13 Total Foreign 214.80 691.06 175.99 143.23 707.88 154.14 223.48 Major Exporters 4/ 25.31 229.07 5.93 66.26 152.09 83.43 24.78 Argentina 0.72 18.40 0.01 0.10 5.50 13.30 0.32 Australia 3.85 33.50 0.14 4.30 7.75 22.64 7.10 Canada 5.18 31.70 0.51 5.36 10.34 20.18 6.87 European Union 5/ 15.56 145.47 5.28 56.50 128.50 27.31 10.49 Major Importers 6/ 139.91 200.16 96.42 36.12 278.33 5.52 152.64 Brazil 1.00 6.73 7.35 0.80 12.20 0.70 2.18 China 97.04 128.85 4.41 16.50 118.50 0.75 111.05 Sel. Mideast 7/ 14.43 20.24 18.11 4.97 39.20 0.53 13.04 N. Africa 8/ 16.63 14.08 28.36 2.28 44.57 0.58 13.92 Pakistan 3.83 25.60 0.00 0.80 24.50 0.60 4.33 Southeast Asia 9/ 5.19 0.00 26.91 9.39 24.97 0.97 6.16 Selected Other India 14.54 87.00 5.90 4.70 97.12 0.52 9.80 FSU-12 16.77 130.48 7.44 28.05 79.13 54.42 21.13 Russia 5.61 72.53 0.50 17.00 40.00 27.81 10.83 Kazakhstan 2.60 14.99 0.08 2.10 6.90 7.40 3.36 Ukraine 3.35 26.80 0.04 3.60 10.30 18.11 1.78 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and the European Union. 5/ Trade excludes intra-trade. 6/ Brazil, China, Japan, Mexico, N. Africa, Pakistan, selected Middle East, and Southeast Asia. 7/ Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and Oman. 8/ Algeria, Egypt, Libya, Morocco, and Tunisia. 9/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam.

November 2017 WASDE - 571 - 19 World Wheat Supply and Use 1/ (Cont'd.) (Million Metric Tons) Beginning Stocks Production

2017/18 Proj. World 3/ United States Total Foreign Major Exporters 4/ Argentina Australia Canada European Union 5/ Major Importers 6/ Brazil China Sel. Mideast 7/ N. Africa 8/ Pakistan Southeast Asia 9/ Selected Other India

Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov

256.58 255.61 32.13 32.13 224.44 223.48 24.40 24.78 0.32 0.32 6.73 7.10 6.87 6.87 10.49 10.49 152.90 152.64 2.38 2.18 111.05 111.05 13.04 13.04 13.86 13.92 4.33 4.33 6.20 6.16

751.19 751.98 47.37 47.37 703.81 704.60 217.04 217.49 17.50 17.50 21.50 21.50 27.00 27.00 151.04 151.49 203.30 202.71 5.10 4.90 130.00 130.00 19.48 19.48 18.15 18.15 26.20 25.70 0.00 0.00

Imports

Domestic Feed

Domestic Total 2/

Exports

Ending Stocks

178.93 179.21 4.08 4.08 174.85 175.13 7.11 7.16 0.01 0.01 0.15 0.15 0.45 0.50 6.50 6.50 93.73 93.83 7.30 7.50 3.00 3.00 18.20 18.70 28.35 28.35 0.03 0.03 25.85 25.05

141.49 140.77 3.27 3.27 138.23 137.51 63.10 63.00 0.10 0.10 3.50 3.50 3.00 2.90 56.50 56.50 30.28 29.58 0.50 0.50 13.00 13.00 5.02 5.22 2.18 2.18 0.90 0.80 7.69 6.89

739.63 740.05 30.92 30.92 708.71 709.14 149.35 149.05 5.90 5.70 7.00 7.00 8.20 8.10 128.25 128.25 276.54 275.99 11.70 12.10 116.00 116.00 40.22 40.57 45.08 45.08 25.40 24.80 24.14 23.34

180.04 180.68 26.54 27.22 153.51 153.46 79.00 78.70 11.50 11.70 18.00 17.50 21.00 21.00 28.50 28.50 6.52 6.36 1.00 0.80 0.80 0.80 0.74 0.74 0.69 0.69 0.60 0.60 1.03 1.07

268.13 267.53 26.13 25.45 242.00 242.08 20.20 21.68 0.43 0.43 3.38 4.25 5.12 5.27 11.28 11.73 166.87 166.83 2.08 1.68 127.25 127.25 9.76 9.91 14.60 14.66 4.56 4.66 6.88 6.80

Oct 9.80 98.38 3.50 5.00 100.00 0.50 11.18 Nov 9.80 98.38 3.00 5.00 100.00 0.50 10.68 FSU-12 Oct 21.93 138.27 7.96 31.60 82.69 57.49 27.99 Nov 21.13 139.27 7.96 31.60 83.19 57.99 27.19 Russia Oct 10.83 82.00 0.50 20.50 43.50 32.50 17.33 Nov 10.83 83.00 0.50 20.50 44.00 33.00 17.33 Kazakhstan Oct 3.96 14.00 0.05 2.10 6.90 7.50 3.61 Nov 3.36 14.00 0.05 2.10 6.90 7.50 3.01 Ukraine Oct 1.78 26.50 0.03 3.50 10.00 16.50 1.81 Nov 1.78 26.50 0.03 3.50 10.00 16.50 1.81 1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, and the European Union. 5/ Trade excludes intra-trade. 6/ Brazil, China, Japan, Mexico, N. Africa, Pakistan, selected Middle East, and Southeast Asia. 7/ Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and Oman. 8/ Algeria, Egypt, Libya, Morocco, and Tunisia. 9/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam.

November 2017 WASDE - 571 - 20 World Coarse Grain Supply and Use 1/ (Million Metric Tons)

2015/16 World 3/ United States Total Foreign Major Exporters 4/ Argentina Australia Brazil Canada Major Importers 5/ European Union 6/ Japan Mexico N. Afr & Mideast 7/ Saudi Arabia Southeast Asia 8/ South Korea Selected Other China FSU-12 Russia Ukraine

2016/17 Est. World 3/ United States Total Foreign Major Exporters 4/ Argentina Australia Brazil Canada Major Importers 5/ European Union 6/ Japan Mexico N. Afr & Mideast 7/ Saudi Arabia Southeast Asia 8/ South Korea Selected Other China FSU-12 Russia Ukraine

Beginning Stocks

Production

Imports

Domestic Feed

Domestic Total 2/

Exports

Ending Stocks

246.90 46.95 199.95 20.12 4.27 1.53 8.24 3.33 49.08 18.89 1.77 4.83 14.43 3.36 3.67 1.89

1,260.14 367.01 893.13 154.41 38.44 12.54 69.13 25.62 246.14 152.69 0.18 32.38 32.77 0.36 27.51 0.19

181.30 3.94 177.37 7.92 0.01 0.00 3.97 1.55 124.07 14.24 17.07 14.95 32.82 14.79 15.22 10.19

767.54 135.37 632.17 83.79 9.36 3.96 50.89 13.79 271.86 117.08 13.29 26.72 55.97 13.60 33.16 7.83

1,255.01 312.60 942.42 113.09 14.32 5.64 60.24 21.24 353.59 157.25 17.26 44.72 64.32 14.11 41.17 10.32

163.41 57.18 106.23 51.62 25.22 6.94 14.03 4.60 15.71 13.11 0.00 1.56 0.11 0.00 0.93 0.00

252.02 48.11 203.91 17.73 3.18 1.50 7.07 4.67 49.99 15.45 1.76 5.89 15.59 4.41 4.30 1.95

101.92 7.92 2.82 3.29

231.40 82.55 37.43 33.39

17.50 0.56 0.13 0.05

166.44 38.26 20.32 8.74

238.74 53.44 29.72 12.37

0.03 31.33 9.00 21.19

112.05 6.25 1.66 3.17

Beginning Stoc ks

Production

Imports

Domestic Feed

Domestic Total 2/

Exports

Ending Stoc ks

252.02 48.11 203.91 17.73 3.18 1.50 7.07 4.67 49.99 15.45 1.76 5.89 15.59 4.41 4.30 1.95

1,365.31 402.61 962.70 210.61 48.57 16.83 101.35 25.82 241.90 152.21 0.17 33.32 26.21 0.36 29.35 0.20

175.76 3.43 172.33 2.40 0.01 0.00 1.20 0.94 123.89 15.39 17.00 15.17 36.32 13.00 13.42 9.29

800.13 144.50 655.63 89.21 10.96 3.87 53.33 13.83 277.84 119.97 13.25 28.00 57.33 13.00 34.96 7.24

1,355.71 327.44 1,028.27 121.37 16.23 5.74 63.89 21.68 359.96 160.49 17.25 46.90 65.16 13.51 42.76 9.59

202.73 64.50 138.23 82.51 28.61 10.58 36.01 4.79 10.63 7.90 0.00 1.30 0.16 0.00 1.27 0.00

261.62 62.21 199.41 26.86 6.92 2.01 9.73 4.96 45.19 14.66 1.69 6.18 12.79 4.26 3.04 1.85

112.05 6.25 1.66 3.17

227.44 92.19 40.77 39.26

16.06 0.79 0.28 0.06

174.28 40.65 22.58 9.06

252.94 56.03 32.23 12.52

0.11 36.45 8.47 26.87

102.49 6.74 2.01 3.10

1/ Aggregate of local marketing years. Coarse grains include corn, sorghum, barley, oats, rye, millet, and mixed grains (for U.S. excludes millet and mixed grains). 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, Brazil, and South Africa. 5/ The European Union, Mexico, Japan, selected North Africa and Middle East, South Korea, Southeast Asia, and Taiwan. 6/ Trade excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya, Morocco, Syria, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam.

November 2017 WASDE - 571 - 21 World Coarse Grain Supply and Use 1/ (Cont'd.) (Million Metric Tons) Beginning Stocks Production

2017/18 Proj. World 3/ United States Total Foreign Major Exporters 4/ Argentina Australia Brazil Canada Major Importers 5/ European Union 6/ Japan Mexico N. Afr & Mideast 7/ Saudi Arabia Southeast Asia 8/ South Korea Selected Other China FSU-12 Russia Ukraine

Imports

Domestic Feed

Domestic Total 2/

Exports

Ending Stocks

Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov

262.14 261.62 62.21 62.21 199.92 199.41 26.78 26.86 6.72 6.92 2.02 2.01 9.73 9.73 5.07 4.96 45.44 45.19 14.71 14.66 1.62 1.69 6.18 6.18 12.79 12.79 4.26 4.26 3.30 3.04 1.85 1.85

1,319.36 1,322.55 376.04 383.37 943.31 939.18 196.53 196.53 49.00 49.00 11.43 11.43 97.60 97.60 25.56 25.56 244.67 242.88 149.98 150.43 0.17 0.19 33.03 31.63 30.59 29.99 0.36 0.36 30.26 30.01 0.20 0.20

180.30 181.57 3.53 3.53 176.78 178.05 2.05 2.25 0.01 0.01 0.00 0.00 0.85 0.85 0.86 1.06 130.60 130.60 16.61 16.61 16.72 16.72 15.90 16.90 38.88 38.88 13.51 13.01 14.12 14.12 10.27 9.77

815.30 815.33 143.67 145.57 671.64 669.75 90.93 90.74 11.72 11.72 3.82 3.62 54.30 54.30 15.19 15.19 286.81 285.02 119.58 119.58 13.06 13.07 29.52 29.22 61.42 60.92 14.55 14.05 36.16 36.16 8.04 7.54

1,352.24 1,352.39 327.18 329.28 1,025.06 1,023.11 123.00 123.00 17.38 17.38 5.49 5.49 64.75 64.75 22.95 22.95 369.33 367.34 160.10 160.10 17.05 17.06 48.49 48.19 69.42 68.92 15.11 14.61 43.96 43.76 10.51 10.01

185.75 187.16 52.47 54.38 133.28 132.78 78.41 78.61 31.21 31.21 6.93 6.93 34.02 34.02 4.55 4.75 10.28 10.28 8.01 8.01 0.00 0.00 1.30 1.30 0.25 0.25 0.00 0.00 0.73 0.73 0.00 0.00

229.26 231.78 62.13 65.45 167.13 166.33 23.95 24.03 7.14 7.34 1.03 1.02 9.41 9.41 3.99 3.88 41.09 41.05 13.18 13.59 1.47 1.53 5.32 5.22 12.60 12.50 3.02 3.02 2.99 2.67 1.81 1.82

Oct Nov Oct Nov Oct Nov Oct Nov

103.02 102.49 6.55 6.74 1.81 2.01 2.99 3.10

223.04 223.04 93.15 90.85 43.60 43.30 36.99 34.99

13.70 14.70 0.66 0.72 0.11 0.11 0.03 0.03

176.55 177.55 41.65 40.60 23.55 23.15 7.94 7.24

259.08 260.08 56.99 55.84 33.20 32.80 11.41 10.61

0.08 0.08 37.35 36.65 10.06 10.36 26.31 25.31

80.60 80.07 6.02 5.82 2.26 2.26 2.30 2.20

1/ Aggregate of local marketing years. Coarse grains include corn, sorghum, barley, oats, rye, millet, and mixed grains (for U.S. excludes millet and mixed grains). 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, Brazil, and South Africa. 5/ The European Union, Mexico, Japan, selected North Africa and Middle East, South Korea, Southeast Asia, and Taiwan. 6/ Trade excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya, Morocco, Syria, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam.

November 2017 WASDE - 571 - 22 World Corn Supply and Use 1/ (Million Metric Tons)

2015/16 World 3/ United States Total Foreign Major Exporters 4/ Argentina Brazil South Africa Major Importers 5/ Egypt European Union 6/ Japan Mexico Southeast Asia 7/ South Korea Selected Other Canada China FSU-12 Ukraine

2016/17 Est. World 3/ United States Total Foreign Major Exporters 4/ Argentina Brazil South Africa Major Importers 5/ Egypt European Union 6/ Japan Mexico Southeast Asia 7/ South Korea Selected Other Canada China FSU-12 Ukraine

Beginning Stocks

Production

Imports

Domestic Feed

Domestic Total 2/

Exports

209.54 43.97 165.57 13.19 2.90 7.84 2.45 23.13 2.30 9.63 1.35 4.09 3.67 1.86

972.86 345.51 627.35 104.71 29.50 67.00 8.21 118.33 6.00 58.75 0.00 25.97 27.46 0.08

139.35 1.72 137.64 5.67 0.01 3.42 2.24 81.74 8.78 13.77 15.20 14.01 15.20 10.12

601.74 129.91 471.84 60.70 6.00 49.00 5.70 144.90 12.45 55.50 11.60 20.30 33.10 7.80

967.97 298.79 669.18 77.77 9.30 57.50 10.97 196.39 14.85 73.50 15.20 37.30 41.10 10.12

119.69 48.29 71.40 36.48 21.64 14.00 0.84 4.44 0.01 1.95 0.00 1.56 0.93 0.00

1.40 100.47 3.16 1.52

13.56 224.63 39.87 23.33

1.37 3.17 0.38 0.03

7.07 153.50 16.62 5.50

12.35 217.50 19.33 6.90

1.74 0.00 21.49 16.60

Beginning Stoc ks

Production

Domestic Feed

Imports

Domestic / Total 2

Ending Stocks 214.43 44.12 170.31 9.33 1.46 6.77 1.10 22.36 2.22 6.69 1.35 5.21 4.30 1.94 0.00 2.24 110.77 2.59 1.39

Ending Stoc ks

Exports

214.43 44.12 170.31 9.33 1.46 6.77 1.10 22.36 2.22 6.69 1.35 5.21 4.30 1.94

1,074.76 384.78 689.98 156.98 41.00 98.50 17.48 124.12 6.00 61.10 0.00 27.57 29.30 0.08

136.70 1.45 135.25 0.56 0.01 0.50 0.05 80.31 9.00 14.80 15.17 14.50 13.41 9.23

632.56 138.78 493.79 65.63 7.50 51.00 7.13 147.86 12.70 54.90 11.60 22.50 34.90 7.21

1,062.61 313.81 748.80 84.83 11.20 60.50 13.13 200.51 15.10 73.50 15.20 40.40 42.70 9.41

163.61 58.24 105.37 64.00 25.50 36.00 2.50 4.58 0.01 2.00 0.00 1.30 1.27 0.00

2.24 110.77 2.59 1.39

13.20 219.55 47.30 28.00

0.85 2.46 0.37 0.05

7.10 162.00 17.30 5.10

12.70 232.00 20.08 6.50

1.52 0.08 27.03 21.30

226.58 58.30 168.29 18.03 5.77 9.27 3.00 21.69 2.11 7.09 1.32 5.58 3.04 1.83 0.00 2.08 100.72 3.14 1.64

1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Brazil, and South Africa. 5/ Egypt, the European Union, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam.

November 2017 WASDE - 571 - 23 World Corn Supply and Use 1/ (Cont'd.) (Million Metric Tons) Beginning Stocks Production

2017/18 Proj. World 3/ United States Total Foreign Major Exporters 4/ Argentina Brazil South Africa Major Importers 5/ Egypt European Union 6/ Japan Mexico Southeast Asia 7/ South Korea Selected Other Canada China FSU-12 Ukraine

Imports

Domestic Feed

Domestic Total 2/

Exports

Ending Stocks

Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov

226.99 226.58 58.30 58.30 168.69 168.29 17.83 18.03 5.57 5.77 9.27 9.27 3.00 3.00 21.88 21.69 2.11 2.11 7.09 7.09 1.25 1.32 5.58 5.58 3.30 3.04 1.83 1.83

1,038.80 1,043.90 362.73 370.29 676.06 673.61 149.50 149.50 42.00 42.00 95.00 95.00 12.50 12.50 121.95 121.90 6.00 6.00 59.39 59.59 0.00 0.00 26.20 26.20 30.21 29.96 0.08 0.08

145.81 146.58 1.27 1.27 144.54 145.31 0.41 0.41 0.01 0.01 0.30 0.30 0.10 0.10 85.30 85.80 10.00 10.00 16.00 16.00 15.00 15.00 15.50 16.50 14.10 14.10 10.20 9.70

650.48 652.53 139.71 141.61 510.77 510.92 66.30 66.30 8.50 8.50 52.00 52.00 5.80 5.80 152.65 153.25 13.40 13.40 56.00 56.00 11.50 11.50 23.20 24.30 36.10 36.10 8.00 7.50

1,064.83 1,066.62 315.86 317.77 748.96 748.85 85.70 85.70 12.50 12.50 61.50 61.50 11.70 11.70 205.70 206.10 15.90 15.90 74.70 74.70 15.10 15.10 41.20 42.30 43.90 43.70 10.30 9.80

150.71 151.61 46.99 48.90 103.72 102.72 64.70 64.70 29.00 29.00 34.00 34.00 1.70 1.70 3.53 3.53 0.01 0.01 1.50 1.50 0.00 0.00 1.30 1.30 0.72 0.72 0.00 0.00

200.96 203.86 59.44 63.19 141.52 140.68 17.34 17.54 6.07 6.27 9.07 9.07 2.20 2.20 19.90 19.76 2.20 2.20 6.27 6.47 1.15 1.22 4.78 4.68 2.99 2.67 1.81 1.81

Oct Nov Oct Nov Oct Nov Oct Nov

2.19 2.08 101.25 100.72 2.90 3.14 1.54 1.64

14.10 14.10 215.00 215.00 46.55 44.25 27.00 25.00

0.80 1.00 3.00 3.00 0.38 0.45 0.03 0.03

8.20 8.40 166.00 166.00 17.23 16.48 4.50 3.80

13.80 14.00 240.00 240.00 20.01 19.16 5.90 5.10

1.30 1.30 0.05 0.05 27.26 26.26 21.50 20.50

1.99 1.88 79.20 78.67 2.56 2.42 1.16 1.06

1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Brazil, and South Africa. 5/ Egypt, the European Union, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam.

November 2017 WASDE - 571 - 24 World Rice Supply and Use (Milled Basis) 1/ (Million Metric Tons)

2015/16 World 3/ United States Total Foreign Major Exporters 4/ India Pakistan Thailand Vietnam Major Importers 5/ Brazil European Union 6/ Indonesia Nigeria Philippines Sel. Mideast 7/ Selected Other Burma C. Amer & Carib 8/ China Egypt Japan Mexico South Korea

2016/17 Est. World 3/ United States Total Foreign Major Exporters 4/ India Pakistan Thailand Vietnam Major Importers 5/ Brazil European Union 6/ Indonesia Nigeria Philippines Sel. Mideast 7/ Selected Other Burma C. Amer & Carib 8/ China Egypt Japan Mexico South Korea

Beginning Stocks 127.77 1.55 126.22 31.54 17.80 1.21 11.27 1.26 11.80 0.64 1.15 4.11 1.77 2.41 1.23

Production

Imports

Exports

38.33 0.77 37.56 0.61 0.00 0.01 0.30 0.30 12.24 0.90 1.80 1.00 2.10 1.60 3.25

Total /2 Domestic 467.73 3.58 464.15 127.97 93.57 2.80 9.10 22.50 76.66 7.90 3.55 37.80 6.00 12.90 5.58

472.57 6.13 466.44 154.59 104.41 6.80 15.80 27.58 63.28 7.21 2.05 36.20 3.53 11.00 1.89

0.75 0.45 69.00 0.92 2.82 0.17 1.41

12.16 1.49 145.77 4.00 7.67 0.16 4.33

0.03 1.91 4.80 0.10 0.71 0.69 0.31

10.40 3.30 140.80 3.90 8.60 0.89 4.21

1.30 0.04 0.27 0.20 0.05 0.00 0.00

40.24 3.40 36.85 29.30 10.24 4.10 9.87 5.09 0.84 0.55 0.27 0.00 0.00 0.00 0.00

Beginning Stoc ks

Production

Imports

Total /2 Domestic

Exports

132.61 1.48 131.13 29.48 18.40 1.12 8.40 1.56 9.82 0.31 1.18 3.51 1.40 2.11 0.80

486.57 7.12 479.45 163.75 110.15 6.85 19.20 27.55 66.23 8.38 2.07 37.15 3.65 11.69 1.96

41.06 0.75 40.31 0.56 0.00 0.01 0.25 0.30 12.15 0.60 1.85 0.50 2.40 1.10 4.05

481.07 4.17 476.90 134.30 97.00 3.10 12.00 22.20 77.17 8.00 3.65 37.60 6.10 12.90 5.78

45.34 3.70 41.64 31.80 11.00 3.60 11.00 6.20 1.07 0.70 0.32 0.02 0.00 0.00 0.00

1.24 0.51 78.50 0.92 2.55 0.13 1.83

12.50 1.60 144.85 4.80 7.78 0.18 4.20

0.01 1.84 5.30 0.15 0.69 0.86 0.41

10.30 3.43 141.35 4.30 8.50 0.91 4.70

2.80 0.03 0.81 0.10 0.06 0.09 0.00

Ending Stocks 132.61 1.48 131.13 29.48 18.40 1.12 8.40 1.56 9.82 0.31 1.18 3.51 1.40 2.11 0.80 0.00 1.24 0.51 78.50 0.92 2.55 0.13 1.83

Ending Stoc ks

138.11 1.46 136.65 27.69 20.55 1.28 4.85 1.01 9.96 0.59 1.13 3.54 1.35 2.00 1.03 0.00 0.65 0.49 86.50 1.47 2.46 0.16 1.74

1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. Total domestic includes both domestic use and unreported disappearance. 3/ World imports and exports may not balance due to differences in some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, and the EU-28. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries.

November 2017 WASDE - 571 - 25 World Rice Supply and Use (Milled Basis) 1/ (Cont'd.) (Million Metric Tons) Beginning Stocks

Production

Imports

Total /2 Domestic

Exports

Ending Stocks

Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov

138.21 138.11 1.46 1.46 136.75 136.65 28.31 27.69 20.55 20.55 1.18 1.28 5.35 4.85 1.23 1.01 9.90 9.96 0.57 0.59 1.13 1.13 3.54 3.54 1.35 1.35 2.00 2.00 1.00 1.03

483.80 481.20 5.67 5.66 478.13 475.53 165.75 163.25 110.00 107.50 6.90 6.90 20.40 20.40 28.45 28.45 65.14 65.14 7.82 7.82 2.08 2.08 37.00 37.00 3.65 3.65 11.20 11.20 1.96 1.96

42.72 43.33 0.77 0.78 41.95 42.55 0.55 0.55 0.00 0.00 0.00 0.00 0.25 0.25 0.30 0.30 12.65 12.72 0.60 0.63 1.90 1.90 0.50 0.50 2.30 2.30 1.70 1.70 3.80 3.85

480.48 480.36 3.65 3.65 476.83 476.71 135.10 135.00 98.00 98.00 3.00 3.20 11.50 11.50 22.60 22.30 77.30 77.40 7.90 7.95 3.75 3.75 37.40 37.40 6.20 6.20 12.90 12.90 5.90 5.95

44.19 44.91 3.37 3.30 40.82 41.61 31.90 31.90 11.80 11.60 4.10 3.80 10.00 10.20 6.00 6.30 0.93 0.93 0.60 0.60 0.28 0.28 0.02 0.02 0.00 0.00 0.00 0.00 0.00 0.00

141.52 138.94 0.88 0.95 140.64 137.99 27.61 24.59 20.75 18.45 0.98 1.18 4.50 3.80 1.38 1.16 9.47 9.49 0.49 0.49 1.08 1.08 3.62 3.62 1.11 1.11 2.00 2.00 0.86 0.88

Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov

0.35 0.65 0.49 0.49 86.50 86.50 1.47 1.47 2.37 2.46 0.15 0.16 1.74 1.74

12.60 12.60 1.65 1.65 144.00 144.00 4.30 4.30 7.60 7.60 0.19 0.19 3.90 3.90

0.01 0.01 1.84 1.84 5.25 5.25 0.05 0.05 0.69 0.69 0.80 0.85 0.41 0.41

10.50 10.20 3.53 3.52 142.35 142.15 4.40 4.40 8.50 8.45 0.91 0.91 4.65 4.65

2.10 2.60 0.03 0.03 0.90 1.10 0.10 0.10 0.08 0.06 0.00 0.09 0.00 0.00

0.36 0.46 0.42 0.42 92.50 92.50 1.32 1.32 2.08 2.24 0.23 0.20 1.39 1.39

2017/18 Proj. World 3/ United States Total Foreign Major Exporters 4/ India Pakistan Thailand Vietnam Major Importers 5/ Brazil European Union 6/ Indonesia Nigeria Philippines Sel. Mideast 7/ Selected Other Burma C. Amer & Carib 8/ China Egypt Japan Mexico South Korea

1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. Total domestic includes both domestic use and unreported disappearance. 3/ World imports and exports may not balance due to differences in some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philippines, selected Middle East, and the EU-28. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries.

November 2017 WASDE - 571 - 26 World Cotton Supply and Use 1/ (Million 480-Pound Bales)

2015/16 World United States Total Foreign Major Exporters 4/ Central Asia 5/ Afr. Fr. Zone 6/ S. Hemis 7/ Australia Brazil India Major Importers 8/ Mexico China European Union 9/ Turkey Pakistan Indonesia Thailand Bangladesh Vietnam

2016/17 Est. World United States Total Foreign Major Exporters 4/ Central Asia 5/ Afr. Fr. Zone 6/ S. Hemis 7/ Australia Brazil India Major Importers 8/ Mexico China European Union 9/ Turkey Pakistan Indonesia Thailand Bangladesh Vietnam

Beginning Stocks

Production

Imports

Domestic Use

Exports

Loss /2

Ending Stocks

111.15 3.65 107.50 29.72 3.01 2.15 10.80 1.82 7.53 13.49 75.89 0.69 66.92 0.34 1.60 2.89 0.60 0.22 1.33 0.68

96.15 12.89 83.26 46.56 5.97 4.20 9.98 2.85 5.90 25.90 34.00 0.94 22.00 1.28 2.65 7.00 0.01 3/ 0.12 3/

35.42 0.03 35.39 1.77 3/ 3/ 0.25 3/ 0.09 1.07 31.30 0.98 4.41 0.80 4.22 3.30 2.94 1.28 6.40 4.50

111.71 3.45 108.26 31.97 2.63 0.13 4.22 0.04 3.10 24.25 72.15 1.85 35.00 0.81 6.65 10.30 3.00 1.27 6.30 4.40

35.13 9.15 25.98 22.80 4.26 4.87 7.67 2.83 4.31 5.76 2.07 0.13 0.13 1.31 0.23 0.25 0.02 0.00 0.00 0.00

-0.02 0.17 -0.19 -0.28 0.00 0.00 -0.29 -0.15 -0.15 0.00 0.09 0.03 0.00 0.00 0.00 0.03 0.00 0.03 0.01 0.00

95.91 3.80 92.11 23.56 2.09 1.35 9.43 1.96 6.26 10.44 66.88 0.61 58.20 0.30 1.58 2.62 0.53 0.20 1.54 0.78

Beginning Stoc ks

Production

Imports

Domestic Use

Exports

Loss /2

Ending Stoc ks

95.91 3.80 92.11 23.56 2.09 1.35 9.43 1.96 6.26 10.44 66.88 0.61 58.20 0.30 1.58 2.62 0.53 0.20 1.54 0.78

106.47 17.17 89.30 50.66 5.95 5.04 12.31 4.05 7.00 27.00 35.86 0.76 22.75 1.31 3.20 7.70 0.01 3/ 0.13 3/

37.62 0.01 37.61 3.63 3/ 3/ 0.37 3/ 0.19 2.74 31.78 1.00 5.03 0.70 3.68 2.40 3.39 1.23 6.70 5.50

114.22 3.25 110.97 31.47 2.89 0.13 4.29 0.04 3.20 23.50 75.52 1.75 37.50 0.72 6.45 10.30 3.30 1.20 6.70 5.40

37.23 14.92 22.32 19.19 2.79 4.51 7.07 3.73 2.79 4.55 2.04 0.15 0.06 1.33 0.33 0.13 0.01 0.00 0.00 0.00

-0.12 0.06 -0.18 -0.27 0.00 0.01 -0.30 -0.15 -0.15 0.00 0.09 0.03 0.00 0.00 0.00 0.03 0.00 0.03 0.01 0.00

88.67 2.75 85.92 27.47 2.36 1.73 11.05 2.39 7.61 12.13 56.88 0.44 48.42 0.27 1.68 2.27 0.62 0.20 1.66 0.88

1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, China, and the United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Lesotho, Paraguay, South Africa, Tanzania, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, Russia, South Korea, and Taiwan. 9/ Includes intra-EU trade.

November 2017 WASDE - 571 - 27 World Cotton Supply and Use 1/ (Million 480-Pound Bales) Beginning Production Stocks

2017/18 Proj. World United States Total Foreign

Oct Nov Oct Nov Oct Nov

89.57 88.67 2.75 2.75 86.82 85.92

Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov

28.53 27.47 2.51 2.36 1.77 1.73 11.93 11.05 2.54 2.39 7.61 7.61 12.12 12.13

Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov

56.65 56.88 0.44 0.44 48.42 48.42 0.27 0.27 1.68 1.68 2.27 2.27 0.62 0.62 0.20 0.20 1.41 1.66 0.88 0.88

filler

Major Exporters 4/ Central Asia 5/ Afr. Fr. Zone 6/ S. Hemis 7/ Australia Brazil India

filler

Major Importers 8/ Mexico China European Union 9/ Turkey Pakistan Indonesia Thailand Bangladesh Vietnam

120.86 121.46 21.12 21.38 99.75 100.08 filler

56.42 56.16 6.18 6.13 5.32 5.31 14.42 14.22 5.00 4.80 7.80 7.80 30.00 30.00 filler

40.51 41.10 1.45 1.50 24.50 25.00 1.48 1.52 3.80 3.80 9.15 9.15 3/ 3/ 3/ 3/ 0.13 0.13 3/ 3/

Imports

Domestic Use

Exports

Loss /2

Ending Stocks

38.20 38.03 0.01 0.01 38.19 38.02

118.01 119.25 3.35 3.35 114.66 115.90

38.22 38.04 14.50 14.50 23.72 23.54

0.03 -0.01 0.23 0.19 -0.20 -0.20

92.38 90.88 5.80 6.10 86.58 84.78

filler

2.40 2.40 3/ 3/ 3/ 3/ 0.30 0.30 3/ 3/ 0.13 0.13 1.60 1.60 filler

33.27 33.19 0.80 0.80 5.10 5.30 0.72 0.71 3.40 3.40 2.40 2.40 3.40 3.35 1.35 1.30 7.25 7.25 6.60 6.50

filler

32.36 32.98 2.66 3.21 0.12 0.13 4.43 4.49 0.04 0.04 3.40 3.40 24.50 24.50 filler

78.23 78.89 1.80 1.80 38.50 39.00 0.75 0.74 6.75 6.75 10.60 10.60 3.30 3.30 1.25 1.25 6.90 7.20 6.20 6.10

filler

20.51 20.16 2.69 2.31 4.57 4.58 8.36 8.38 4.10 4.10 3.65 3.75 4.60 4.60 filler

2.25 2.37 0.23 0.28 0.05 0.05 1.33 1.41 0.28 0.28 0.35 0.35 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00

filler

-0.29 -0.29 0.00 0.00 0.00 0.00 -0.30 -0.30 -0.15 -0.15 -0.15 -0.15 0.00 0.00 filler

0.09 0.09 0.03 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.03 0.00 0.00 0.03 0.03 0.01 0.01 0.00 0.00

filler

34.76 33.18 3.33 2.96 2.41 2.34 14.15 12.99 3.55 3.21 8.63 8.53 14.62 14.63 filler

49.87 49.83 0.64 0.64 39.47 39.67 0.39 0.36 1.85 1.85 2.84 2.84 0.72 0.67 0.28 0.23 1.87 1.82 1.29 1.29

1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, China, and the United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Lesotho, Paraguay, South Africa, Tanzania, and Zimbabwe. 8/ In addition to the countries and regions listed, includes Hong Kong, Japan, Russia, South Korea, and Taiwan. 9/ Includes intra-EU trade.

November 2017 WASDE - 571 - 28 World Soybean Supply and Use 1/ (Million Metric Tons) Beginning Production Stocks

2015/16 World 2/ United States Total Foreign Major Exporters 3/ Argentina Brazil Paraguay Major Importers 4/ China European Union Japan Mexico

77.64 5.19 72.46 50.67 31.70 18.93 0.02 18.81 17.01 0.84 0.21 0.07

2016/17 Est. World 2/ United States Total Foreign Major Exporters 3/ Argentina Brazil Paraguay Major Importers 4/ China European Union Japan Mexico

313.71 106.86 206.85 164.73 56.80 96.50 9.22 15.47 11.79 2.32 0.24 0.33

Imports

Domestic Crush

Domestic Total

Exports

Ending Stocks

133.33 0.64 132.69 1.12 0.68 0.41 0.01 113.50 83.23 15.12 3.19 4.13

275.17 51.34 223.83 86.69 43.27 39.75 3.60 106.83 81.50 14.95 2.28 4.40

314.09 54.47 259.61 94.54 47.56 43.25 3.65 127.77 95.00 16.58 3.38 4.43

132.46 52.86 79.60 71.79 9.92 54.38 5.31 0.32 0.11 0.14 0.00 0.00

78.13 5.35 72.78 50.19 31.70 18.20 0.29 19.68 16.91 1.56 0.26 0.10

Beginning Stoc ks

Production

Imports

Domestic Crush

Domestic Total

Exports

Ending Stoc ks

78.13 5.35 72.78 50.19 31.70 18.20 0.29 19.68 16.91 1.56 0.26 0.10

351.25 116.92 234.33 185.78 57.80 114.10 10.67 16.81 12.90 2.38 0.24 0.51

144.61 0.61 144.00 1.99 1.70 0.25 0.01 122.35 93.50 13.20 3.18 4.13

288.53 51.68 236.85 88.10 43.25 41.00 3.65 113.21 88.00 14.40 2.39 4.60

330.06 55.52 274.53 96.25 47.68 44.65 3.70 135.89 102.80 16.04 3.45 4.64

147.66 59.16 88.50 79.66 7.02 63.14 6.60 0.36 0.11 0.20 0.00 0.00

96.28 8.20 88.08 62.05 36.50 24.76 0.66 22.59 20.39 0.90 0.21 0.10

Beginning Stoc ks

Production

Imports

Domestic sh Cru

Domestic Total

Exports

Ending Stoc ks

94.86 96.28 8.20 8.20 86.66 88.08 60.95 62.05 35.97 36.50 24.46 24.76 0.37 0.66 22.13 22.59 20.19 20.39 0.69 0.90 0.24 0.21 0.12 0.10

347.88 348.89 120.58 120.44 227.30 228.45 175.92 176.92 57.00 57.00 107.00 108.00 9.40 9.40 18.18 18.18 14.20 14.20 2.48 2.48 0.26 0.26 0.48 0.48

148.64 150.12 0.68 0.68 147.96 149.44 1.72 1.74 1.50 1.50 0.20 0.20 0.01 0.01 125.65 127.25 95.00 97.00 14.00 14.00 3.30 3.30 4.30 4.30

301.25 301.98 52.80 52.80 248.45 249.18 90.99 90.74 44.84 44.84 42.00 42.00 3.95 3.70 120.03 120.68 94.00 95.00 14.50 14.50 2.35 2.35 4.72 4.72

344.37 344.96 56.51 56.51 287.86 288.45 99.26 99.12 49.34 49.45 45.70 45.70 4.00 3.76 143.70 144.56 109.60 110.80 16.14 16.15 3.51 3.51 4.76 4.76

150.97 152.43 61.24 61.24 89.74 91.20 79.90 81.40 8.00 8.00 64.00 65.00 5.50 6.00 0.40 0.40 0.15 0.15 0.20 0.20 0.00 0.00 0.00 0.00

96.05 97.90 11.72 11.57 84.33 86.33 59.43 60.19 37.13 37.55 21.96 22.26 0.28 0.32 21.86 23.06 19.64 20.64 0.83 1.03 0.29 0.26 0.15 0.13

2017/18 Proj. World 2/ United States Total Foreign Major Exporters 3/ Argentina Brazil Paraguay Major Importers 4/ China European Union Japan Mexico

Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov

1/ Data based on local marketing years except Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil, Paraguay, and Uruguay. 4/ China, European Union, Japan, Mexico, and Southeast Asia (includes Indonesia, Malaysia, Philippines, Vietnam, and Thailand).

November 2017 WASDE - 571 - 29 World Soybean Meal Supply and Use 1/ (Million Metric Tons) Beginning Stocks 13.53 0.24 13.30 8.39 4.03 3.81 0.55 1.96 0.66 1.24

2015/16 World 2/ United States Total Foreign Major Exporters 3/ Argentina Brazil India Major Importers 4/ European Union Southeast Asia 5/

2016/17 Est. World 2/ United States Total Foreign Major Exporters 3/ Argentina Brazil India Major Importers 4/ European Union Southeast Asia 5/

Production

Imports

216.01 40.53 175.48 68.52 33.21 30.75 4.56 16.43 11.81 2.89

61.89 0.37 61.53 0.07 0.00 0.03 0.05 36.57 19.21 15.64

Domestic Total 213.59 30.04 183.55 23.58 2.68 16.27 4.63 52.64 30.94 18.25

Exports 65.31 10.84 54.47 46.14 30.33 15.41 0.41 0.51 0.30 0.21

Ending Stocks 12.53 0.24 12.29 7.26 4.23 2.91 0.12 1.80 0.44 1.31

Beginning Stoc ks

Production

Imports

Domestic Total

Exports

Ending Stoc ks

12.53 0.24 12.29 7.26 4.23 2.91 0.12 1.80 0.44 1.31

226.42 40.58 185.84 72.36 33.27 31.73 7.36 16.17 11.38 2.98

60.71 0.32 60.40 0.04 0.00 0.04 0.01 36.40 18.90 15.88

222.44 30.25 192.19 24.76 2.85 16.91 5.00 52.44 30.24 18.77

64.98 10.52 54.45 47.36 31.60 13.76 2.00 0.57 0.33 0.24

12.25 0.36 11.88 7.53 3.05 4.00 0.49 1.36 0.14 1.17

Beginning Stoc ks

Production

Imports

Domestic Total

Exports

Ending Stoc ks

12.89 12.25 0.27 0.36 12.62 11.88 8.38 7.53 3.50 3.05 4.28 4.00 0.60 0.49 1.22 1.36 0.13 0.14 1.05 1.17

236.62 237.12 41.82 41.82 194.80 195.30 73.88 73.94 34.42 34.42 32.50 32.50 6.96 7.02 16.64 16.45 11.46 11.46 3.41 3.22

64.76 64.03 0.27 0.27 64.49 63.76 0.04 0.04 0.00 0.00 0.03 0.03 0.01 0.01 38.37 37.98 19.50 19.40 17.02 16.73

234.44 234.19 31.03 31.12 203.41 203.07 26.01 25.99 3.06 3.06 17.50 17.48 5.45 5.45 54.46 53.77 30.64 30.54 20.20 19.61

67.41 67.23 11.07 11.07 56.35 56.17 48.15 48.15 31.20 31.20 15.25 15.25 1.70 1.70 0.53 0.53 0.30 0.30 0.23 0.23

12.42 11.98 0.27 0.27 12.15 11.71 8.14 7.38 3.67 3.21 4.06 3.80 0.41 0.36 1.23 1.48 0.14 0.16 1.05 1.28

2017/18 Proj. World 2/ United States Total Foreign Major Exporters 3/ Argentina Brazil India Major Importers 4/ European Union Southeast Asia 5/

Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov

1/ Data based on local marketing years except for Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil, and India. 4/ European Union, Southeast Asia, and Japan. 5/ Indonesia, Malaysia, Philippines, Vietnam, and Thailand.

November 2017 WASDE - 571 - 30 World Soybean Oil Supply and Use 1/ (Million Metric Tons) Beginning Stocks 4.22 0.84 3.38 0.95 0.37 0.38 0.20 1.53 0.78 0.52 0.23

2015/16 World 2/ United States Total Foreign Major Exporters 3/ Argentina Brazil European Union Major Importers 4/ China India North Africa 5/

2016/17 Est. World 2/ United States Total Foreign Major Exporters 3/ Argentina Brazil European Union Major Importers 4/ China India North Africa 5/

Production

Imports

51.54 9.96 41.59 18.90 8.43 7.63 2.84 15.96 14.61 1.03 0.33

11.63 0.13 11.50 0.39 0.00 0.07 0.33 6.85 0.59 4.27 2.00

Domestic Total 52.15 9.15 43.00 11.41 2.83 6.29 2.29 22.98 15.35 5.30 2.33

Exports 11.68 1.02 10.67 8.16 5.70 1.55 0.92 0.16 0.10 0.00 0.07

Ending Stocks 3.57 0.77 2.80 0.67 0.27 0.24 0.16 1.20 0.52 0.51 0.16

Beginning Stoc ks

Production

Imports

Domestic Total

Exports

Ending Stoc ks

3.57 0.77 2.80 0.67 0.27 0.24 0.16 1.20 0.52 0.51 0.16

53.95 10.02 43.93 19.00 8.39 7.87 2.74 17.95 15.77 1.66 0.52

10.86 0.15 10.71 0.35 0.00 0.06 0.29 5.74 0.71 3.40 1.63

53.62 9.00 44.62 11.67 2.87 6.59 2.21 23.75 16.35 5.30 2.10

11.40 1.16 10.24 7.54 5.45 1.24 0.85 0.20 0.12 0.00 0.08

3.35 0.78 2.57 0.81 0.34 0.34 0.13 0.94 0.54 0.27 0.14

Beginning Stoc ks

Production

Imports

Domestic Total

Exports

Ending Stoc ks

3.54 3.35 0.74 0.78 2.80 2.57 1.00 0.81 0.45 0.34 0.40 0.34 0.16 0.13 0.98 0.94 0.53 0.54 0.31 0.27 0.14 0.14

56.16 56.29 10.21 10.21 45.95 46.08 19.45 19.45 8.63 8.63 8.06 8.06 2.76 2.76 19.05 19.27 16.85 17.02 1.56 1.62 0.64 0.62

11.45 11.48 0.14 0.14 11.31 11.35 0.31 0.31 0.00 0.00 0.06 0.06 0.25 0.25 6.35 6.37 0.50 0.50 4.10 4.10 1.75 1.77

55.79 55.99 9.44 9.44 46.35 46.55 11.65 11.65 2.80 2.80 6.70 6.70 2.16 2.16 25.08 25.34 17.20 17.40 5.55 5.60 2.33 2.34

11.85 11.75 0.95 0.95 10.89 10.80 8.15 8.12 5.85 5.85 1.45 1.45 0.85 0.82 0.18 0.17 0.10 0.10 0.00 0.00 0.08 0.07

3.51 3.38 0.70 0.73 2.81 2.65 0.96 0.80 0.44 0.33 0.37 0.31 0.16 0.16 1.11 1.07 0.57 0.56 0.43 0.39 0.11 0.12

2017/18 Proj. World 2/ United States Total Foreign Major Exporters 3/ Argentina Brazil European Union Major Importers 4/ China India North Africa 5/

Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov Oct Nov

1/ Data based on local marketing years except for Argentina and Brazil which are adjusted to an October-September year. 2/ World imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil and European Union. 4/ China, India, and North Africa. 5/ Algeria, Egypt, Morocco, and Tunisia.

November 2017 WASDE - 571 - 31 U.S. Quarterly Animal Product Production 1/ Year and Quarter

2016 IV Annual 2017 I II III IV* Annual Oct Proj. Nov Proj. 2018 I* II* III* Annual Oct Proj. Nov Proj.

Beef

Pork Red Meat 2/

Broiler

Turkey

Total Red Meat Poultry 3/ & Poultry

Egg

Milk

6,625 25,221

6,648 24,941

13,329 50,387

Million Pounds 10,065 1,511 40,695 5,981

11,708 47,225

25,037 97,612

Mil doz 2,220 8,565

Bil lbs 52.5 212.4

6,300 6,404 6,731 6,965

6,409 6,137 6,239 6,955

12,764 12,595 13,023 13,976

10,233 10,407 10,550 10,350

1,487 1,481 1,479 1,550

11,848 12,023 12,166 12,035

24,612 24,618 25,190 26,011

2,174 2,175 2,187 2,235

53.6 55.3 53.5 53.5

26,549 26,400

25,826 25,740

52,595 52,358

41,440 41,540

6,008 5,997

47,991 48,072

100,586 100,430

8,774 8,771

216.2 215.8

6,435 6,930 7,040

6,710 6,390 6,580

13,198 13,375 13,674

10,400 10,625 10,700

1,475 1,500 1,500

12,008 12,265 12,340

25,206 25,640 26,014

2,205 2,185 2,230

54.5 56.3 54.5

27,295 27,620

26,855 26,925

54,370 54,763

42,275 42,275

6,140 6,025

48,965 48,848

103,335 103,611

8,890 8,905

220.4 219.7

* Projection. 1/ Commercial production for red meats; federally inspected for poultry meats. 2/ Beef, pork, veal and lamb & mutton. 3/ Broilers, turkeys and mature chicken.

U.S. Quarterly Prices for Animal Products Steers 2/

Barrows and gilts 3/

Broilers 4/

Turkeys 5/

Eggs 6/

Milk 7/

Dol./cwt 107.69 120.86

Dol./cwt 37.02 46.16

Cents/lb. 78.0 84.3

Cents/lb. 116.6 117.1

Cents/doz. 81.7 85.7

Dol./cwt 17.80 16.30

2017 I II III IV* Annual Oct Proj. Nov Proj.

122.96 132.76 112.46 117-121

49.73 51.70 55.59 38-40

88.5 104.7 94.9 86-88

100.4 99.1 96.9 89-91

80.0 74.7 102.1 120-124

18.23 16.83 17.70 17.85-18.15

119.55 121.80

49.01 49.01

93.8 93.8

98.8 96.6

92.7 94.7

17.75-17.85 17.65-17.75

2018 I* II* III* Annual Oct Proj. Nov Proj.

116-124 112-122 110-120

45-47 47-51 44-48

87-93 86-94 84-92

86-92 93-101 98-106

94-100 82-88 91-99

16.95-17.55 16.40-17.30 16.70-17.70

111-120 113-122

43-47 43-47

85-92 85-92

100-108 96-103

91-99 92-99

17.45-18.35 16.90-17.80

Year and Quarter

2016 IV Annual

*Projection. 1/ Simple average of months. 2/ 5-Area, Direct, Total all grades 3/ National Base, Live equiv 51-52% lean. 4/ Wholesale, National Composite Weighted Average. 5/ 8-16 lbs, hens National. 6/ Grade A large, New York, volume buyers. 7/ Prices received by farmers for all milk.

November 2017 WASDE - 571 - 32 U.S. Meats Supply and Use Beginning Production stocks 1/

Item

Beef

Pork

Total Red Meat 5/

Broiler

Turkey

Total Poultry 6/

Red Meat & Poultry

2016 2017 Proj. Oct Nov 2018 Proj. Oct Nov 2016 2017 Proj. Oct Nov 2018 Proj. Oct Nov 2016 2017 Proj. Oct Nov 2018 Proj. Oct Nov 2016 2017 Proj. Oct Nov 2018 Proj. Oct Nov 2016 2017 Proj. Oct Nov 2018 Proj. Oct Nov 2016 2017 Proj. Oct Nov 2018 Proj. Oct Nov 2016 2017 Proj. Oct Nov 2018 Proj. Oct Nov

Imports

Total Supply

Exports

Ending Stocks

Total Per Capita Use 2/ 3/

Million Pounds /4 28,986 2,556 30,330 2,834 30,190 2,855 31,092 2,910 31,417 2,970

757 700 700 650 715

25,673 26,796 26,635 27,532 27,732

55.6 57.6 57.3 58.8 59.2

683 757 757 700 700

25,288 26,616 26,467 27,362 27,687

3,015 2,957 2,966 3,030 3,030

Filler

Filler

Filler

Filler

Filler

Filler

Filler

Filler

590 507 507 600 630

24,956 25,842 25,756 26,871 26,941

1,091 1,115 1,113 1,000 1,000

26,637 27,464 27,376 28,471 28,571

5,239 5,708 5,588 5,965 5,900

507 600 630 750 660

20,891 21,156 21,158 21,756 22,011

50.1 50.4 50.4 51.5 52.1

Filler

Filler

Filler

Filler

Filler

Filler

Filler

Filler

1,320 1,304 1,304 1,340 1,374

50,480 52,688 52,451 54,463 54,856

4,322 4,322 4,330 4,272 4,272

56,123 58,314 58,085 60,075 60,502

7,801 8,548 8,450 8,883 8,878

1,304 1,340 1,374 1,440 1,419

47,018 48,426 48,261 49,752 50,205

106.9 109.3 109.0 111.5 112.6

Filler

Filler

Filler

Filler

Filler

Filler

Filler

Filler

832 778 778 745 780

40,260 40,997 41,096 41,823 41,823

131 124 123 130 130

41,223 41,899 41,997 42,698 42,733

6,644 6,814 6,713 7,030 6,910

778 745 780 750 780

33,800 34,340 34,504 34,918 35,043

89.8 90.6 91.0 91.5 91.8

Filler

Filler

Filler

Filler

Filler

Filler

Filler

Filler

201 279 279 325 300

5,981 6,008 5,997 6,140 6,025

50 35 28 40 40

6,232 6,322 6,304 6,505 6,365

569 611 618 650 650

279 325 300 295 300

5,384 5,386 5,386 5,560 5,415

16.6 16.5 16.5 17.0 16.5

Filler

Filler

Filler

Filler

Filler

Filler

Filler

Filler

1,041 1,065 1,065 1,078 1,088

46,789 47,547 47,627 48,512 48,395

184 162 154 174 174

48,014 48,774 48,847 49,764 49,657

7,372 7,564 7,464 7,825 7,705

1,065 1,078 1,088 1,053 1,088

39,577 40,132 40,294 40,886 40,864

107.6 108.4 108.8 109.7 109.6

Filler

Filler

Filler

Filler

Filler

Filler

Filler

Filler

2,361 2,369 2,369 2,418 2,462

97,269 100,235 100,078 102,975 103,251

4,506 4,484 4,484 4,446 4,446

104,136 107,087 106,931 109,839 110,159

15,173 16,112 15,914 16,708 16,583

2,369 2,418 2,462 2,493 2,507

86,595 88,558 88,555 90,638 91,069

214.6 217.7 217.8 221.2 222.1

1/ Total including farm production for red meats and, for poultry, federally inspected plus non-federally inspected, less condemnations. 2/ Pounds, retail-weight basis for red meat and broilers; certified ready-to-cook weight for turkey. 3/ Population source: Dept. of Commerce. 4/ Carcass weight for red meats and certified ready-to-cook weight for poultry. 5/ Beef, pork, veal, lamb and mutton. 6/ Broilers, turkeys and mature chicken.

November 2017 WASDE - 571 - 33 U.S. Egg Supply and Use 2015

2016

2017 Proj.

2017 Proj.

2018 Proj.

2018 Proj.

Oct

Nov

Oct

Nov

Commodity

Eggs Supply Beginning Stocks Production Imports Total Supply Use Exports Hatching Use Ending Stocks Disappearance Total Per Capita (number)

Million Dozen 23.3 8,053.0 123.5 8,199.8

31.1 8,565.0 121.9 8,718.0

27.1 8,774.0 40.4 8,841.5

27.1 8,771.3 37.4 8,835.8

27.0 8,890.0 40.0 8,957.0

27.0 8,905.0 40.0 8,972.0

313.6 995.6 31.1

279.0 1,009.6 27.1

305.2 1,028.8 27.0

313.0 1,028.7 27.0

320.0 1,030.0 27.0

320.0 1,030.0 27.0

6,859.4 256.3

7,402.3 274.7

7,480.5 275.7

7,467.1 275.2

7,580.0 277.5

7,595.0 278.0

2017 Proj.

2017 Proj.

2018 Proj.

2018 Proj.

Oct

Nov

Oct

Nov

Billion Pounds 216.2 215.8 1.0 1.0

220.4 1.0

219.7 1.0

Total

U.S. Milk Supply and Use 2015

2016

Commodity Milk

Production Farm Use Fat Basis Supply Beg. Commercial Stocks Marketings Imports Total Cml. Supply Fat Basis Use Commercial Exports Ending Commercial Stocks CCC Donations Domestic Commercial Use Skim-solid Basis Supply Beg. Commercial Stocks Marketings Imports Total Cml. Supply Skim-solid Basis Use Commercial Exports Ending Commercial Stocks CCC Donations Domestic Commercial Use

208.6 1.0

212.4 1.0

10.5 207.6 5.8 223.9

12.3 211.4 7.0 230.8

12.7 215.2 6.2 234.1

12.7 214.8 6.1 233.6

13.0 219.4 5.9 238.3

13.6 218.7 6.1 238.4

8.5 12.3 0.0 203.0

8.4 12.7 0.0 209.7

9.5 13.0 0.0 211.7

9.1 13.6 0.0 210.9

9.6 12.1 0.0 216.7

9.4 12.4 0.0 216.7

9.4 207.6 6.0 223.1

9.2 211.4 6.5 227.1

9.5 215.2 6.3 231.0

9.5 214.8 6.1 230.4

11.1 219.4 6.2 236.7

12.6 218.7 6.1 237.4

37.3 9.2 0.0 176.6

39.0 9.5 0.0 178.5

40.9 11.1 0.0 179.1

39.9 12.6 0.0 177.9

42.0 9.7 0.0 185.0

41.7 10.7 0.0 185.1

Total

Note: Totals may not add due to rounding.

November 2017 WASDE - 571 - 34 U.S. Dairy Prices 2015

2016

1.6454

1.6050

Butter

2.0670

2.0777

Nonfat Dry Milk

0.9016

0.8292

Dry Whey

0.3804

0.2875

Class III

15.80

14.87

Class IV

14.35

13.77

All Milk 3/

17.13

16.30

Commodity Product Prices 1/ Cheese

Filler

2017 Proj. Oct

2017 Proj. Nov

Dollars Per Pound 1.6251.635 2.3352.365 0.8700.890 0.4500.460 Dollars Per Cwt

2018 Proj. Oct

2018 Proj. Nov

1.6301.640 2.3252.355 0.8600.880 0.4400.450

1.6451.735 2.3152.435 0.8150.885 0.3800.410

1.6251.715 2.2852.405 0.7700.840 0.3250.355

16.1516.25 15.1015.30 17.6517.75

16.0016.90 14.7015.70 17.4518.35

15.5016.40 14.1515.15 16.9017.80

Milk Prices 2/ 16.1516.25 15.2515.45 17.7517.85

1/ Simple average of monthly prices calculated by AMS from weekly average dairy product prices for class price computations. 2/ Annual Class III and Class IV prices are the simple averages of monthly minimum Federal order milk prices paid by regulated plants for milk used in the respective classes. All milk price is the simple average of monthly prices received by farmers for milk at average test. 3/ Does not reflect any deductions from producers as authorized by legislation.

November 2017 WASDE - 571 - 35 Reliability of November Projections 1/ Note: Tables on pages 35-37 present a record of the November projection and the final Estimate. Using world wheat production as an example, the "root mean square error" means that chances are 2 out of 3 that the current forecast will not be above or below the final estimate by more than 1.2 percent. Chances are 9 out of 10 (90% confidence level) that the difference will not exceed 2.1 percent. The average difference between the November projection and the final estimate is 5.5 million tons, ranging from 0.1 million to 18.1 million tons. The November projection has been below the estimate 27 times and above 9 times.

Commodity and Region WHEAT Production World U.S. Foreign Exports World U.S. Foreign Domestic Use World U.S. Foreign Ending Stocks World U.S. Foreign COARSE GRAINS 2/ Production World U.S. Foreign Exports World U.S. Foreign Domestic Use World U.S. Foreign Ending Stocks World U.S. Foreign RICE, milled Production World U.S. Foreign Exports World U.S. Foreign Domestic Use World U.S. Foreign Ending Stocks World U.S. Foreign 1/ Footnotes at end of table.

90 percent Root mean confidence square error interval Percent

Differences between forecast and final estimate Years Below Above Average Smallest Largest Final Final Million Metric Tons

1.2 0.4 1.4

2.1 0.7 2.3

5.5 0.2 5.5

0.1 0.0 0.0

18.1 1.2 18.2

27 17 27

9 12 9

5.8 7.4 7.1

9.8 12.5 12.1

6.1 1.9 5.9

0.2 0.2 0.3

19.2 8.6 17.2

30 17 32

6 19 4

1.4 6.1 1.4

2.3 10.3 2.4

5.8 1.6 6.0

0.0 0.1 0.5

18.8 3.6 21.1

22 11 25

13 25 11

6.3 11.2 6.5

10.7 19.1 11.0

7.8 2.0 6.6

0.9 0.2 0.8

23.1 7.0 22.7

27 22 27

9 14 9

1.6 1.3 2.2

2.7 2.2 3.8

13.1 2.4 13.1

0.2 0.0 0.2

47.3 7.5 48.8

28 18 28

8 18 8

6.9 15.9 12.5

11.7 27.1 21.2

6.9 5.7 6.8

0.1 0.4 0.3

29.7 14.7 23.5

25 18 24

11 18 12

1.4 3.7 1.6

2.4 6.3 2.7

11.0 5.2 9.8

0.2 0.2 0.3

41.9 17.2 42.2

21 18 23

15 18 13

12.8 20.7 16.7

21.7 35.1 28.3

13.1 7.7 11.4

0.3 0.6 0.2

39.6 23.9 31.1

30 20 32

6 16 4

2.1 2.9 2.2

3.6 5.0 3.7

5.7 0.1 5.7

0.1 0.0 0.2

16.8 0.5 16.9

30 18 30

6 16 6

9.3 9.2 10.6

15.8 15.6 18.0

1.7 0.2 1.6

0.1 0.0 0.0

6.0 0.7 6.0

29 20 27

7 13 9

1.7 8.1 1.8

3.0 13.8 3.0

4.1 0.2 4.1

0.1 0.0 0.0

17.5 0.6 17.7

29 17 30

7 19 6

11.0 23.4 11.4

18.7 39.8 19.4

5.4 0.2 5.4

0.1 0.0 0.1

24.6 0.8 24.4

29 7 22 14 29 7 CONTINUED

November 2017 WASDE - 571 - 36 Reliability of November Projections (Continued) 1/ Differences between forecast and final estimate 90 percent Years Root mean confidence Below Above Commodity and square error interval Average Smallest Largest Final Final Region SOYBEANS Percent Million Metric Tons Production World 4.0 6.9 5.9 0.1 25.1 22 14 U.S. 2.2 3.7 1.2 0.1 4.2 15 21 Foreign 6.7 11.4 5.8 0.0 26.4 20 16 Exports World 7.4 12.6 3.4 0.0 13.4 23 13 U.S. 10.3 17.4 2.4 0.1 7.1 24 12 Foreign 18.6 31.6 2.7 0.1 11.7 18 18 Domestic Use World 2.9 5.0 3.9 0.0 14.2 22 14 U.S. 3.7 6.2 1.3 0.0 3.8 24 12 Foreign 3.6 6.1 3.7 0.2 12.8 22 14 Ending Stocks World 16.7 28.4 4.6 0.0 18.4 21 15 U.S. 50.0 84.8 2.4 0.1 7.3 8 28 Foreign 17.8 30.2 4.0 0.1 18.2 22 14 COTTON Million 480-Pound Bales Production World 3.7 6.2 2.6 0.1 9.3 23 13 U.S. 3.0 5.1 0.4 0.0 1.0 19 16 Foreign 4.3 7.2 2.5 0.1 8.9 23 13 Exports World 7.9 13.4 2.0 0.1 10.3 23 13 U.S. 17.6 29.9 1.1 0.1 3.2 22 14 Foreign 10.4 17.7 1.5 0.0 8.9 18 17 Domestic Use World 3.4 5.8 2.5 0.0 11.1 17 18 U.S. 7.3 12.4 0.3 0.0 1.1 19 17 Foreign 3.4 5.8 2.4 0.0 10.6 18 18 Ending Stocks World 12.0 20.4 4.6 0.3 14.6 23 13 U.S. 31.9 54.2 1.1 0.1 3.5 12 24 Foreign 12.9 21.9 4.4 0.0 15.1 25 11 1/ Marketing years 1981/82 through 2016/17 for grains, soybeans, and cotton. Final for grains, soybeans, and cotton is defined as the first November estimate following the marketing year for 1981/82 through 2015/16, and for 2016/17 the last month’s estimate. 2/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain.

November 2017 WASDE - 571 - 37 Reliability of United States November Projections 1/ Differences between forecast and final estimate

CORN Production Exports Domestic Use Ending Stocks SORGHUM Production Exports Domestic Use Ending Stocks BARLEY Production Exports Domestic Use Ending Stocks OATS Production Exports Domestic Use Ending Stocks SOYBEAN MEAL Production Exports Domestic Use Ending Stocks SOYBEAN OIL Production Exports Domestic Use Ending Stocks

90 percent Root mean confidence square error interval Percent 1.3 2.3 16.4 27.9 4.0 6.7 23.5 39.9

Years Average Smallest Million Bushels 88 0 198 9 201 3 301 17

Largest

Below Final

Above Final

250 575 574 986

18 17 22 18

17 19 14 18

4.2 20.1 18.9 47.4

7.2 34.2 32.0 80.4

15 32 35 25

1 0 0 2

53 123 127 104

18 21 18 12

18 14 17 24

1.5 40.0 6.7 12.8

2.6 67.9 11.4 21.7

4 10 17 13

0 0 0 0

24 37 70 38

15 14 13 24

10 19 22 10

1.1 73.9 4.9 20.8

1.9 125.5 8.4 35.3

18 7 39 52

7 9 15 23

9 10 21 13

3.6 11.6 3.4 28.8

6.1 19.6 5.8 48.9

3,250 3,600 2,350 249

23 19 16 13

13 14 20 13

3.9 29.1 3.9 23.5

6.6 49.4 6.5 39.9

2,240 1,425 1,828 1,077

25 19 23 18

11 16 13 17

ANIMAL PROD.

2 0 1 0 12 1 14 1 Thousand Short Tons 1,036 14 692 0 735 30 44 0 Million Pounds 509 40 351 0 455 56 343 0 Million Pounds

Beef Pork Broilers Turkeys

3.8 3.3 1.9 3.5

6.5 5.5 3.2 5.9

778 92 418 2 413 17 137 2 Million Dozen

2,461 1,592 1,394 444

25 21 21 21

10 14 14 14

Eggs

2.0

3.4

108 2 Billion Pounds

513

24

11

Milk 1.6 2.6 1.8 0.0 6.0 18 13 1/ See pages 35 and 36 for record of reliability for U.S. wheat, rice, soybeans, and cotton. Marketing years 1981/82 through 2016/17 for grains, soybeans, and cotton. Final for grains, soybeans, and cotton is defined as the first November estimate following the marketing year for 1981/82 through 2015/16, and for 2016/17 the last month’s estimate. Calendar years 1982 through 2016 for meats, eggs, and milk. Final for animal products is defined as the latest annual production estimate published by NASS for 1982-2016.

WASDE-571-38

Related USDA Reports The WASDE report incorporates information from a number of statistical reports published by USDA and other government agencies. In turn, the WASDE report provides a framework for more detailed reports issued by USDA’s Economic Research Service and Foreign Agricultural Service. For more information on how the WASDE report is prepared, go to: http://www.usda.gov/oce/commodity/wasde.

Supply and Demand Database The Foreign Agricultural Service publishes Production, Supply, and Demand Online, a comprehensive database of supply and demand balances by commodity for 190 countries and regions at https://apps.fas.usda.gov/psdonline/app/index.html. Data for grains, oilseeds, and cotton are updated monthly and data for other commodities are updated less frequently.

Foreign Production Assessments Preliminary foreign production assessments and satellite imagery analysis used to prepare the WASDE report are provided by the Production Estimates and Crop Assessment Division (PECAD) of the Foreign Agricultural Service. PECAD is located at www.pecad.fas.usda.gov/.

Metric Conversion Factors 1 Hectare = 2.4710 Acres 1 Kilogram = 2.20462 Pounds Metric-Ton Equivalent

= Domestic Unit

Factor

Wheat & Soybeans Rice Corn, Sorghum, & Rye Barley Oats Sugar Cotton

bushels cwt bushels bushels bushels short tons 480-lb bales

.027216 .045359 .025401 .021772 .014515 .907185 .217720

WASDE Notification System Subscribers are notified through GovDelivery when the monthly World Agricultural Supply and Demand Estimates (WASDE) report is available. Previous WASDE reports are available at http://usda.mannlib.cornell.edu/MannUsda/viewDocumentInfo.do?documentID=1194

For questions contact: Susan Carter at 202-720-5447 or [email protected]

World Agricultural Supply and Demand Estimates WASDE-571 – November 9, 2017

WASDE Briefing Slides: The briefing slides which accompany today’s WASDE report will be available at http://www.usda.gov/oce/commodity/wasde/ Electronic Subscriptions: Download the WASDE report at http://usda.mannlib.cornell.edu/. Get a free e-mail subscription to the WASDE and other USDA crop reports at http://usda.mannlib.cornell.edu. Select the “Reports by E-Mail” bar to sign up.

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