![](media/image1.png){width="0.6361111111111111in"
height="0.44305555555555554in"}

**OFFICE OF THE CHIEF ECONOMIST NEWS RELEASE**

Release Raymond L. Bridge (202) 720-5447

rbridge@oce.usda.gov

**CHANGES IN THE MAY 12 SUPPLY AND DEMAND ESTIMATES REPORT**

WASHINGTON, May 6, 2003\--The May 12 World Agricultural Supply and
Demand Estimates (WASDE) report will provide USDA's first assessment of
supply, demand and prices for the new marketing year. The WASDE report
is issued by the World Agricultural Outlook Board of USDA's Office of
the Chief Economist.

The report will present projections for 2003/04 for grains, oilseeds,
cotton, sugar and milk, as well as calendar-year 2004 projections for
U.S. meat and poultry products. As in past years, reporting of
country-level data for rice, oilseeds and cotton for 2003/04 will begin
with the July issue.

Several reporting changes will be made. Starting with the May 12 report,
U.S. stocks of refined sugar will no longer be separately reported for
"private" and "other." The world rice supply and use table will be
expanded to two pages to allow for more country detail. Page numbers and
order will change for several tables. For several world supply and
demand tables, the list of countries will change. See the end of this
release for a revised table of contents and sample tables for U.S. sugar
and world rice, cotton, soybeans and soybean meal reflecting these
changes.

The WASDE report is available electronically in Adobe Acrobat format as
well as in ASCII text at http://www.usda.gov/oce/waob/wasde/wasde.htm.
To subscribe to the WASDE report in print, call (800) 999-6779. For more
information call (202) 720-5447. Access all USDA reports by release date
at <http://www.usda.gov/news/releases/rptcal/calindex.htm>.

\#

**TABLE OF CONTENTS WASDE-398- May 12, 2003**

**Page**

Highlights 1

World & U.S. Supply & Use for Grains 6

World & U.S. Supply & Use for Cotton 7

World & U.S. Supply & Use for Oilseeds 8

U.S. Wheat Supply & Use 9

U.S. Wheat Supply & Use by Class 9

U.S. Feed Grain & Corn Supply & Use 10

U.S. Sorghum, Barley &

Oats Supply & Use 11

U.S. Rice Supply & Use 12

U.S. Soybeans & Products Supply & Use 13

U.S. Sugar Supply & Use 14

Metric Conversion Factors 14

U.S. Cotton Supply & Use 15

World Wheat Supply & Use 16

World Coarse Grains Supply & Use 18

World Corn Supply & Use 20

World Rice Supply & Use 22

World Cotton Supply & Use 24

World Soybean Supply & Use 26

World Soybean Meal Supply & Use 27

World Soybean Oil Supply & Use 28

U.S. Quarterly Animal Product Production 29

U.S. Quarterly Prices for Animal Products 29

U.S. Meats Supply and Use 30

U.S. Egg Supply & Use 31

U.S. Milk Supply, Use & Prices 31

Reliability Tables 32

Interagency Commodity Estimates Committees 35

Electronic Access and Subscriptions 36

**WASDE-398-14**

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

**======================================================================**

**: : 2002/03 : 2003/04**

**Item : 2001/02 :====================:============**

**: : April May : Projection**

**======================================================================**

**: 1,000 short tons, raw value**

**:**

**Beginning stocks 2/ :**

**Production 2/3/ :**

**Beet sugar :**

**Cane sugar 4/ :**

**Imports 2/ :**

**TRQ 5/ :**

**Other program 6/ :**

**Other 7/ :**

**Total supply :**

**:**

**Exports 2/8/ :**

**Domestic deliveries 2/ :**

**Domestic food use :**

**Other 9/ :**

**Miscellaneous 10/ :**

**Use, total :**

**Ending stocks 2/ :**

**:**

**Stocks to use ratio :**

**======================================================================**

**1/ Fiscal years beginning Oct 1. Includes Puerto Rico. 2/ Historical**

**data are from FSA, \"Sweetener Market Data\" except imports from
U.S.**

**Customs Service. 3/ Projections for 2003/04 are based on analyses by**

**the Interagency Commodity Estimates Committee for sugar. 4/
Production**

**by state for 2002/03 (projected 2003/04): FL 2,150 ( ); HI 280**

**( ); LA 1,360 ( ); TX 180 ( ); PR 0 ( ). 5/ Actual arrivals**

**under the tariff rate quota (TRQ) with late entries, early entries,**

**and TRQ overfills assigned to the fiscal year in which they actually**

**arrived. The 2003/04 available TRQs assume shortfall of 65,000 tons.**

**6/ Includes sugar under the re-export and polyhydric alcohol
programs.**

**7/ Includes high-tier and other. 8/ Mostly reexports. 9/ Transfer to**

**sugar containing products for reexport, and for nonedible alcohol
and**

**feed. 10/ Residual statistical discrepancies.**

**WASDE-398-22**

**World Rice Supply and Use (Milled Basis) 1/**

**(Million Metric Tons)**

**===============================================================================**

**: Supply : Use :**

**:=========================:===================: Ending**

**Region : : : : : : stocks**

**:Beginning:Produc-: : Total 2/: :**

**: stocks : tion :Imports: Domestic: Exports :**

**===============================================================================**

**:**

**: 2001/02**

**World 3/ :**

**United States :**

**Total foreign :**

**Major exporters 4/ :**

**India :**

**Pakistan :**

**Thailand :**

**Vietnam :**

**Major importers 5/ :**

**Brazil :**

**EU-15 :**

**Indonesia :**

**Nigeria :**

**Philippines :**

**Sel. Mideast 6/ :**

**Selected other :**

**Burma :**

**C. Amer & Carib 7/:**

**China :**

**Egypt :**

**Japan :**

**Mexico :**

**South Korea :**

**:**

**: 2002/03 (Estimated)**

**World 3/ :**

**United States :**

**Total foreign :**

**Major exporters 4/ :**

**India :**

**Pakistan :**

**Thailand :**

**Vietnam :**

**Major importers 5/ :**

**Brazil :**

**EU-15 :**

**Indonesia :**

**Nigeria :**

**Philippines :**

**Sel. Mideast 6/ :**

**Selected other :**

**Burma :**

**C. Amer & Carib 7/:**

**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. 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,**

**Iran, Iraq, Cote d\'Ivoire, Nigeria, Philippines, Saudi Arabia, the
EU-15**

**(excludes intra-trade). 6/ Selected Middle East includes Iran, Iraq,
and Saudi**

**Arabia. 7/ Central American and Caribbean countries.**

**WASDE-398-23**

**World Rice Supply and Use (Milled Basis) 1/ (Cont\'d.)**

**(Million Metric Tons)**

**===============================================================================**

**: Supply : Use :**

**:=========================:===================: Ending**

**Region : : : : : : stocks**

**:Beginning:Produc-: : Total 2/: :**

**: stocks : tion :Imports: Domestic: Exports :**

**===============================================================================**

**:**

**: 2003/04 (Projected)**

**:**

**World 3/ May :**

**United States May :**

**Total foreign May :**

**===============================================================================**

**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 some
countries.**

**WASDE-398-24**

**World Cotton Supply and Use 1/**

**(Million 480-pound bales)**

**================================================================================**

**: Supply : Use : :**

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

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

**: stocks : tion : 3/ : : 3/ : :**

**================================================================================**

**:**

**: 2001/02**

**:**

**World :**

**United States :**

**Total foreign :**

**Major exporters 5/ :**

**Pakistan :**

**Central Asia 6/ :**

**Afr. Fr. Zone 7/ :**

**S. Hemis. 8/ :**

**Australia :**

**Major importers :**

**Brazil :**

**India :**

**Mexico :**

**China :**

**Europe :**

**Russia :**

**Turkey :**

**Selected Asia 8/ :**

**Indonesia :**

**Thailand :**

**:**

**: 2002/03 (Estimated)**

**:**

**World :**

**United States :**

**Total foreign :**

**Major exporters 5/ :**

**Pakistan :**

**Central Asia 6/ :**

**Afr. Fr. Zone 7/ :**

**S. Hemis. 8/ :**

**Australia :**

**Major importers :**

**Brazil :**

**India :**

**Mexico :**

**China :**

**Europe :**

**Russia :**

**Turkey :**

**Selected Asia 9/ :**

**Indonesia :**

**Thailand :
================================================================================**

**1/ Marketing year beginning August 1. Totals may not add exactly and
trade**

**may not balance due to rounding and other factors. 2/ Generally
reflects**

**cotton lost or destroyed in the marketing channel; for Australia,
Brazil, and**

**the United States, reflects the difference between implicit stocks
based on**

**supply less total use and indicated ending stocks. 3/ Less than 5,000
bales.**

**4/ Includes Egypt and Syria in addition to the countries and regions
listed.**

**5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and**

**Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African
Republic, Chad,**

**Cote d\'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina,
Australia,**

**Paraguay, South Africa, and Zimbabwe. 8/ Hong Kong, Indonesia, Japan,
South**

**Korea, Taiwan, Thailand, and Vietnam.**

**WASDE-398-25**

**World Cotton Supply and Use 1/**

**(Million 480-pound bales)**

**================================================================================**

**: Supply : Use : :**

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

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

**: stocks : tion : 3/ : : 3/ : :**

**================================================================================**

**:**

**: 2003/04 (Projected)**

**World :**

**May :**

**United States :**

**May :**

**Total foreign :**

**May :**

**================================================================================**

**1/ Marketing year beginning August 1. Totals may not add exactly and
trade**

**may not balance due to rounding and other factors. 2/ Generally
reflects**

**cotton lost or destroyed in the marketing channel; for Australia,
Brazil, and**

**the United States, reflects the historical difference between implicit
stocks**

**based on supply less total use and indicated ending stocks.**

**WASDE-398-26**

**World Soybean Supply and Use 1/**

**(Million Metric Tons)**

**===============================================================================**

**: Supply : Use :**

**:=========================:=======================:Ending**

**Region : : : : : :stocks**

**:Beginning:Produc-: : Domestic : :**

**: stocks : tion :Imports: Crush : Total :Exports:**

**===============================================================================**

**:**

**: 2000/01**

**World 2/ :**

**United States :**

**Total foreign :**

**Major exporters 3/ :**

**Argentina :**

**Brazil :**

**Major importers 4/ :**

**China :**

**EU-15 :**

**Japan :**

**Mexico :**

**:**

**: 2001/02 (Estimated)**

**World 2/ :**

**United States :**

**Total foreign :**

**Major exporters 3/ :**

**Argentina :**

**Brazil :**

**Major importers 4/ :**

**China :**

**EU-15 :**

**Japan :**

**Mexico :**

**:**

**: 2002/03 (Projected)**

**World 2/ :**

**April :**

**May :**

**United States :**

**April :**

**May :**

**Total foreign :**

**April :**

**May :**

**Major exporters 3/ :**

**April :**

**May :**

**Argentina Apr :**

**May :**

**Brazil Apr :**

**May :**

**Major importers 4/ :**

**April :**

**May :**

**China Apr :**

**May :**

**EU-15 Apr :**

**May :**

**Japan Apr :**

**May :**

**Mexico Apr :**

**May :**

**===============================================================================**

> 1/ Data based on local marketing years except Argentina and Brazil
> which are adjusted to an October-September year. 2/ World imports and
> exports may not

**balance due to differences in local marketing years and to time lags
between**

**reported exports and imports. Therefore, world supply may not equal
world**

**use. 3/ Argentina, Brazil and Paraguay. 4/ Japan, China, and EU,
Mexico, and**

**Southeast Asia (includes Indonesia, Malaysia, Philippines, and
Thailand).**

**WASDE-398-27**

**World Soybean Oil Supply and Use 1/**

**(Million Metric Tons)**

**===============================================================================**

**: Supply : Use :**

**:=========================:===================: Ending**

**Region : : : : : : stocks**

**:Beginning:Produc-: : Total : :**

**: stocks : tion :Imports: Domestic: Exports :**

**===============================================================================**

**:**

**: 2000/01**

**World 2/ :**

**United States :**

**Total foreign :**

**Major exporters 3/ :**

**Argentina :**

**Brazil :**

**EU-15 :**

**Major importers 4/ :**

**China :**

**India :**

**Pakistan :**

**:**

**: 2001/02 (Estimated)**

**World 2/ :**

**United States :**

**Total foreign :**

**Major exporters 3/ :**

**Argentina :**

**Brazil :**

**EU-15 :**

**Major importers 4/ :**

**China :**

**India :**

**Pakistan :**

**:**

**: 2002/03 (Projected)**

**World 2/ :**

**April :**

**May :**

**United States :**

**April :**

**May :**

**Total foreign :**

**April :**

**May :**

**Major exporters 3/ :**

**April :**

**May :**

**Argentina Apr :**

**May :**

**Brazil Apr :**

**May :**

**EU-15 Apr :**

**May :**

**Major importers 4/ :**

**April :**

**May :**

**China Apr :**

**May :**

**India Apr :**

**May :**

**Pakistan Apr :**

**May :**

**===============================================================================**

**1/ Data based on local marketing years except for Argentina and Brazil
which**

**are adjusted to an October-September year. 2/ World imports and
exports may**

**not balance due to differences in local marketing years and to time
lags**

**between reported exports and imports. Therefore, world supply may not
equal**

**world use. 3/ Argentina, Brazil and EU. 4/ India, China and
Pakistan.**