**OFFICE OF THE CHIEF ECONOMIST ANNOUNCEMENT**

OCE Release #3-2006

Brenda Chapin 202-720-5447

bchapin@oce.usda.gov

# CHANGES IN THE MAY 12 SUPPLY AND DEMAND ESTIMATES REPORT

Washington, May 5, 2006 -The May 12 World Agricultural Supply and Demand
Estimates (WASDE) report will reflect several changes starting with this
issue. The WASDE, which will provide USDA's first assessment of supply,
demand and prices for the new marketing year, is issued by the World
Agricultural Outlook Board of USDA's Office of the Chief Economist. The
monthly report, issued at 8:30 a.m., will present projections for
2006/07 for U.S. grains, oilseeds, cotton, and sugar, as well as
calendar-year 2007 projections for U.S. meat, poultry and dairy
products. World totals will be forecast for 2006/07 grains, oilseeds,
and cotton with individual country forecasts for grains. Individual
country forecasts for oilseeds and products, and for cotton, will be
issued in the June 9 WASDE.

An important change for May WASDE readers is new page numbers for all
the tables. The members of the Interagency Commodity Estimates
Committees (ICECs) will be listed on page six and a Table of Contents
(TOC) on page seven. All subsequent page numbers are advanced by two
pages. Please refer to the sample TOC in this announcement for
specifics.

Additional changes include the following:

The World Corn Supply and Use table (now on page 22) drops "Russia" and
inserts "Ukraine." See sample table following the TOC page.

The World Cotton Supply and Use tables (now on page 26) shift Pakistan
from a major exporter to a major importer, shift India from a major
importer to a major exporter, and add Bangladesh under major importers.
The "selected Asia" lines are eliminated. Footnotes 8 and 9 are
renumbered and adjusted. Footnote 8/ is added to the "major importers"
line, which reads: "In addition to the countries and regions listed,
includes Hong Kong, Japan, South Korea, Taiwan, and Vietnam." A sample
table follows.

The World Soybean Meal Supply and Use table (now on page 28) footnote \#
4 changes to include "Other Europe" in place of "Eastern Europe." "Other
Europe" includes Iceland, Norway, Switzerland, Albania, Romania,
Bulgaria, Serbia and Montenegro, Bosnia and Herzegovina, Croatia, and
Macedonia.

For previous WASDE reports and information on how the report is
prepared, visit: http:www.usda.gov/oce/commodity/wasde/

Number range CHAPTER

WASDE-434-7

**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

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

Number range CHAPTER**WASDE-434-22**

**World Corn Supply and Use 1/**

**(Million Metric Tons)**

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

**: Supply : Use :**

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

**Region : : : : Domestic 2/ : :stocks**

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

**: stocks : tion :Imports: Feed : Total :Exports:**

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

**:**

**: 2004/05**

**:**

**World 3/ :**

**United States :**

**Total foreign :**

**Major exporters 4/ :**

**Argentina :**

**South Africa :**

**Major importers 5/ :**

**Egypt :**

**EU-25 6/ :**

**Japan :**

**Mexico :**

**Southeast Asia 7/ :**

**South Korea :**

**Selected other :**

**Brazil :**

**Canada :**

**China :**

**Other Europe :**

**FSU-12 :**

**Ukraine :**

**:**

**: 2005/06 (Estimated)**

**:**

**World 3/ :**

**United States :**

**Total foreign :**

**Major exporters 4/ :**

**Argentina :**

**South Africa :**

**Major importers 5/ :**

**Egypt :**

**EU-25 6/ :**

**Japan :**

**Mexico :**

**Southeast Asia 7/ :**

**South Korea :**

**Selected other :**

**Brazil :**

**Canada :**

**China :**

**Other Europe :**

**FSU-12 :**

**Ukraine :**

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

**1/ Aggregate of local marketing years. 2/ Total foreign and world use
adjusted**

**to reflect the differences in world imports and exports. 3/ World
imports and**

**exports may not balance due to differences in marketing years, grain
in**

**transit, and reporting discrepancies in some countries. 4/ Argentina
and South**

**Africa. 5/ Egypt, the EU-25, Mexico, Japan, South Korea, Taiwan, and
Southeast**

**Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia,
Philippines,**

**Thailand, and Vietnam.**

Number range CHAPTER**WASDE-434-23**

**World Corn Supply and Use 1/ (Cont\'d.)**

**(Million Metric Tons)**

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

**: Supply : Use :**

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

**Region : : : : Domestic 2/ : :stocks**

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

**: stocks : tion :Imports: Feed : Total :Exports:**

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

**:**

**: 2006/07 (Projected)**

**World 3/ :**

**May :**

**United States :**

**May :**

**Total foreign :**

**May :**

**Major exporters 4/ :**

**May :**

**Argentina May :**

**South Africa May :**

**Major importers 5/ :**

**May :**

**Egypt May :**

**EU-25 6/ May :**

**Japan May :**

**Mexico May :**

**S.-east Asia 7/May :**

**South Korea May :**

**Selected other :**

**Brazil May :**

**Canada May :**

**China May :**

**Other Europe May :**

**FSU-12 May :**

**Ukraine 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 marketing years, grain
in**

**transit, and reporting discrepancies in some countries. 4/ Argentina
and South**

**Africa. 5/ Egypt, the EU-25, Mexico, Japan, South Korea, Taiwan, and
Southeast**

**Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia,
Philippines,**

**Thailand, and Vietnam.**

Number range CHAPTER**WASDE-434-26**

**World Cotton Supply and Use 1/**

**(Million 480-pound bales)**

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

**: Supply : Use : :**

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

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

**: stocks : tion : : : : :**

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

**: 2004/05**

**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 :**

**EU-25 9/ :**

**Russia :**

**Turkey :**

**Pakistan :**

**Indonesia :**

**Thailand :**

**Bangladesh :**

**: 2005/06 (Estimated)**

**:**

**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 :**

**EU-25 9/ :**

**Russia :**

**Turkey :**

**Pakistan :**

**Indonesia :**

**Thailand :**

**Bangladesh :**

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

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

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

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

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

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

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

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

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

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

**Brazil, Paraguay, South Africa, and Zimbabwe. 8/ In addition to the
countries**

**and regions listed, includes Hong Kong, Japan, South Korea, Taiwan,
and**

**Vietnam. 9/ Includes intra-EU trade. \#**