ISSN: 1554-9089 

# World Agricultural Supply

and Demand Estimates

Office of the
Chief Economist Agricultural Marketing Service Farm Service Agency Economic Research Service Foreign Agricultural Service



### WASDE - 518 Approved by the World Agricultural Outlook Board May 10, 2013

Note: This report presents USDA’s initial a ssessment of U.S. and world crop supply and demand prospects and U.S. prices for 2013/14. Also presented are the first cal endar-year 2014 projections of U.S. livesto ck, poultry, and dairy products. Projection s reflect economic analysis, normal weather, trends, and judgment. Because spring planting is still underway in the Northern Hemisphere and remains several months away in the Southern Hemisphere, these projections are hi ghly tentative. Forecasts for U.S. winter wheat area, yiel d, and production are from the May 10 Crop Production report. For other U.S. crops, the March

28 Prospective Plantings report is used for planted acreage. Methods used to project 2013/ 14 harvested acreage and yield are

noted in each table.



### WHEAT: U.S. wheat supplies for 2013/14 are project ed at 2,917 million bushels, down 7 percent from 2012/13. Wheat production is projec ted at 2,057 million bushels, down 9 percent from last year with reduced prospects for Hard Red Winter wheat. The all wheat yield, projected at 44.1 bushels per acre, is
down 2.2 bushels from the record levels of 2012/13 and 2010/11. The su rvey-based forecast for winter wheat production is down 10 percent with the lowest harvested-to-p lanted ratio since 2006/07 and lower yields as persistent drought and Apr il freezes reduce crop prospects in the southern and central Plains. Partly offsetting is higher forecast Soft Red Wint er wheat production with higher area. Spring wheat production for 2013/14 is projected to decline 8 percent as reduced durum area and a return to trend yields reduce prospects for durum and other spring wheat.

Total U.S. wheat use for 2013/14 is projected down 7 percent year-to- year with lower domestic use and exports. Feed and residual disappearanc e is projected 70 million bushels lo wer as larger supplies and lower prices for feed grains in 2013/14 limit wheat feeding by late summer. Pa rtly offsetting is a 13-million-bushel
increase in domestic food use as flour extracti on rates fall from a very high level in 2012/13 and consumption grows with population. Exports fo r 2013/14 are projected at 925 million bushels, down 100 million from the 2012/13 projection. Large crops for major export competit ors limit opportunities for U.S. wheat. U.S. ending stocks are projected to decline for a fourth consecutive year . At 670 million bushels, ending stocks would be down 61 million bushels from the 2012/13 projection. The all wheat season-average farm price is projected at $6.15 to $7.45 per bushel, down from the re cord $7.80 projected for 2012/13 as world prices for wheat and coarse grains are expected to decline sharply by fall.

Global 2013/14 wheat supplies are projected 3 perc ent higher than in 2012/13 with a 51.2-million-ton increase in foreign production more than offsetting a 19.3-million-ton reduction in global beginning stocks and lower forecast production in the United States. At the projected 701.1 m illion tons, global production would be a record and up 45.5 million from 2012/13. Produc tion for 2013/14 is project ed higher in all of the world’s major exporting countries wi th the largest increases expect ed in the FSU-12 and EU-27, up 29.9 million tons and 6.7 million tons, res pectively. Production is projected higher for Australia, Argentina, and Canada, up a collective 6.2 million tons from the current year. Also affecting global trade prospects in 2013/14 are year-to-year production increases for major importers, the Middle East and North Africa, where
weather has been favorable for winter crops since seeding last fall.

Global wheat exports for 2013/14 are projected higher than in 2012/13 with increases expected for FSU-12, Argentina, and India more than offse tting reductions for EU-27 and Australia . Global wheat consumption is projected 20.0 million tons higher with increases in both feeding and food use. Wheat feed and residual use is raised for FSU-12 and EU-27 with larger production. The largest increase in f ood use is for India, but lower prices support small increases for many countries. Global ending stocks for 2013/14 are projected at 186.4 million tons, up 6. 2 million on the year.

COARSE GRAINS: U.S. feed grain supplies for 2013/14 are pr ojected at a record 400.5 million tons, up 25 percent from 2012/13 with higher area and yields expected for corn, sor ghum, and oats. Corn production forWASDE-518-2



### 2013/14 is projected at 14.1 billi on bushels, up 3.4 billion from 2012/13 when extreme drought and heat reduced yields to their lowest leve ls since 1995/96. The 2013/14 corn yiel d is projected at 158.0 bushels per acre, 5.6 bushels below the weather adjusted trend pres ented at USDA’s Agricultural Outlook Forum in February ( www.usda.gov/oce/forum/presentations/Westcott_Jewison.pdf ). The slow start to this year’s planting and the likelihood that progress by mid-Ma y will remain well behind the 10-year average reduce prospects for yields. Corn supplie s for 2013/14 are projected at a reco rd 14.9 billion bushels, up 3.0 billion
from 2012/13.

U.S. corn use for 2013/14 is projected up 16 percent from 2012/13 on higher feed and residual disappearance, increased use for ethanol, sweeteners, and starch, and a par tial recovery in exports. Feed and residual use for 2013/14 is proj ected up 925 million bushels reflec ting a sharp rebound in residual disappearance with the record crop and an increase in feeding with lower co rn prices. Projected corn use
for ethanol is increased 250 million bushels from this month’s higher projection for 2012/13. Lower corn prices and high prices for Renewabl e Identification Numbers (RINS) support profitability for ethanol producers.

U.S. corn exports for 2013/14 are pr ojected 550 million bushels higher than th is month’s lower projection for 2012/13. At the project ed 1.3 billion bushels, 2013/14 exports are expected to rebound from their lowest level since 1970/71. An expected fourth straight year of record foreign corn production with large crops in South America and the FSU-12 will prov ide substantial competition for t he United States. U.S. corn ending stocks are projected at 2.0 billion bushels, up 1.2 billion from 2012/13. The season-average farm price at $4.30 to $5.10 per bushel is down sharply fr om the record $6.70 to $7.10 for 2012/13.

Global coarse grain supplies for 2013/ 14 are projected at a record 1,407. 6 million tons, up 113.8 million from 2012/13. Global corn production for 2013/14 is projected at a record 965.9 million tons. Foreign corn production is up 23.5 million tons. T he largest increases are projected for the FSU-12, EU-27, and China, but large crops are again expected in 2013/14 for Brazil and Argentina. Global corn trade is projected higher with increased imports for China more than offsetting a reduction for EU-27. Spurred by lower prices, smaller year-to-year import increases are projected for a number of c ountries. Exports are lowered for Brazil, India, and Argentina, but rais ed for Ukraine and EU-27. World corn consumption is projected at a record 936.7 million tons, up 72.8 m illion from 2012/13 with foreign cons umption up 41.5 million. Global corn ending stocks for 2013/14 are projected up 29.2 milli on tons on the year. At 154.6 million tons, stocks would be a 13-year high.

RICE: Tighter U.S. 2013/14 all rice supplies, foreca st down 6 percent from 2012/13 and lower projected use, down 7 percent from 2012/13 result in ending stocks that are down 3 per cent from the previous year. Beginning stocks and production for 2013/14 are both foreca st lower from a year ago, while imports are forecast 5 percent larger. U.S. rice production fo r 2013/14 is projected at 189. 5 million cwt, down 5 percent
from 2012/13. Harvested area is estimated at 2.59 million acres based on average harvested-to-planted ratios for the previous 5 years, t he lowest area since 1987/88. Average a ll rice yield is projected at 7,317 pounds per acre, down 2 percent from the previous year’s record.

U.S. 2013/14 all rice total use is projected at a 213.0 million cwt, 7 per cent below the previous year. Domestic and residual use is projec ted at 115.0 million cwt, 4 percent bel ow 2012/13. All rice exports are projected at 98.0 million cwt, 9 per cent below 2012/13, and the lowest since 2008/09. Long-grain rice exports are projected at 69.0 milli on, 10 percent below the previous year, and combined medium- and shortgrain rice exports at 29.0 million, 7 percent below 2012/13. U.S. l ong-grain exports will be limited by a tighter U.S. supply situation, and increased competition among t he major South American and Asian exporters. Exports of medium-grain rice will be cons trained by tighter U.S. supp lies and greater competition from Egypt and Australia. U.S. all rice ending stocks for 2013/14 are projected at 33.1 million cwt, 3 percent below the previous year. Long-grain ending stocks are forecast at 21.9 million cwt, 7 percent above 2012/13, and combined medium- and short- grain rice stocks at 9.0 million, 22 percent below the previous

year.

The U.S. 2013/14 long-grain rice s eason-average farm price is proj ected at $13.80 to $14.80 per cwt, compared to a revised $14.20 to $14.60 for the previous year. The combined medium- and short-grain price is projected at $15.50 to $16.50 per cwt, compared to a revised $15.80 to $16.20 for the year earlier. TheWASDE-518-3



### 2013/14 all rice price is project ed at $14.30 to $15.30 per cwt, compar ed to a revised $14.70 to $15.10 per
cwt for 2012/13.

Global 2013/14 total supply and use are each projected to reach record levels at 584.7 and 476.8 million tons, respectively, resulting in a 2.4-million incr ease in world ending stocks. Global 2013/14 rice production is projected at a record 479.3 milli on tons, up 9.0 million from 2012/13. Re cord to near-record rice crops are projected in Asia. Record crops are projected for the major expor ters including India, Thailand, and Vietnam. Additionally, large crops are forecast for ot her exporters including Burma, Cambodia, and Egypt. On the importer side, record or near-record crops are forecast for Indonesia, the Philippines, and SubSaharan Africa.

Global 2013/14 consumption is projected at a record 476.8 million tons, up 1 percent from the previous year. Global exports in 2013/14 are proj ected at 38.9 million tons, up marg inally from 2012/13. India and Thailand are forecast to be the largest global rice ex porters in 2013/14 with exports of 8.5 million tons each followed by Vietnam at 7.7 million tons. Large 2013/14 imports are projec ted for China, the Middle East, and Sub-Saharan Africa with Nigeria the largest in t hat region. China’s impor ts have surged since 2011/12—
forecast to be 2.9 million tons in 2012/13 and 3.0 m illion in 2013/14—making China the largest global rice importer in 2013/14. China’s annual consumption needs have overtak en production since 2012/13. Strong domestic prices in China have encour aged imports of lower-priced rice fr om Burma, Pakistan, and Vietnam. Global 2013/14 ending stocks are expected to increase 2. 4 million tons to 107.8 m illion, the largest since
2001/02.

OILSEEDS: U.S. oilseed production for 2013/14 is projected at 100.9 m illion tons, up 9 percent from 2012/13. Higher soybean production accounts for most of the increase. Sunflowerseed, peanut, and cottonseed production are each project ed below last year’s crops. So ybean production is projected at a record 3.390 billion bushels, up 375 million from t he drought-reduced 2012 crop on s lightly higher harvested area and higher yields. Soybean yields are projected at a weather-adjus ted trend level of 44.5 bushels per acre, up 4.9 bushels from 2012. Soybean supplies ar e projected at 3.530 billi on bushels, up 10 percent from 2012/13. Additional soybean meal exports for 2012/13 are offset by reduc ed domestic consumption, leaving crush unchanged. Soybean exports and ending stocks for 2012/13 are also unchanged from last

month.

The 2013/14 U.S. soybean crush is pr ojected at 1.695 billion bushels, up 60 million from 2012/13 reflecting increased domestic soybean meal cons umption and exports. Despite in creased competition from South America, U.S. soybean meal exports are forecast higher on sharply lower prices. Soybean exports are projected at 1.450 billion bushels, up 100 million from 2012/13 on increased supplies and competitive prices. Ending stocks are projected at 265 million bushels, up 140 million from 2012/13. The U.S. season-average soybean price for 2013/14 is forecast at $9.50 to $11.50 per bushel compared with $14.30 per bushel in 2012/13. Soybean meal and oil prices are forecast at $280-$320 per short ton and 47-51 cents per pound, respectively.

Global oilseed production for 2013/14 is projected at a record 491.3 m illion tons, up 4.7 percent from 2012/13 mainly due to increased soybean production. Global soybean production is projected at 285.5 million tons, up 6 percent. The Argentina soybean crop is projected at 54.5 million tons, up 3.5 million from 2012/13 on record planted area and higher yields. The Brazil soybean crop is projected at a record 85 million tons as higher harvested area more than offsets lower yields. China soybean production is projected at 12 million tons, down 0.6 million from 2012/13 as producers continue to shift area to more profitable crops. If realized, harvested area at 6.6 million hectares would be down 28 percent in the past 4 years. Global production of high-oil content seeds (rapeseed and sunflo werseed) is projected up 6.1 percent from 2012/13 on increased rapeseed production in Canada, India, EU-27, and Uk raine, and increased sunflowerseed production in Argentina, EU-27, Russia, Ukraine, and Tu rkey. Oilseed supplies are up 5.1 percent from 2012/13. With crus h projected to increase 3.4 perc ent, global oilseed ending stocks are projected at 82.6 million tons, up 12.3 million.

Global protein meal consumpt ion is projected to increas e 2.7 percent in 2013/14. Protein meal consumption is projected to increase 3. 3 percent in China, accounting for 32 perc ent of global protei n consumption gains. Global soybean exports are projec ted at 107.1 million tons , up 11.3 percent from 2012/13. China soybeanWASDE-518-4



### imports are projected at 69 million tons, up 10 million from the revis ed 2012/13 projection, leaving soybean supplies up 5 million tons from the previous year. Gl obal vegetable oil consumption is projected to rise 3 percent in 2013/14, led by increases for China, India, and Indonesia.

SUGAR: Projected U.S. sugar supply for fiscal year 2013/14 is up 2.1 percent from 2012/13, as higher beginning stocks and imports more than offset lower production. Lower beet s ugar production reflects reduced area and a return to trend yields, while lo wer cane sugar production is based on trend yields. Imports under the tariff rate quota (TRQ) reflect mini mum U.S. commitments to import raw and refined sugar and projected shortfall. The Secretary will establish the TRQ at a later dat e. Total use is up 1.8 percent and ending stocks are slightly higher than a year earlier.

For Mexico, 2013/14 supplies are down 1.8 percent from 2012/13, as higher beginning stocks are offset by lower production. Higher domestic use and lowe r ending stocks are based on trends in population and reasonable carryover requirements, respec tively. Exports to all destinations are lower, but shipments to the U.S. market are up 5.3 percent from 2012/13.

LIVESTOCK, POULTRY, AND DAIRY: Total U.S. red meat and poultry production in 2014 is projected to be above 2013 as higher pork and poultry production more t han offsets declines in beef production. Tighter cattle supplies and potential heifer retention during late 2013 and into 2014 are expected to limit cattle available for placement, thereby reducing fed ca ttle slaughter in 2014. Lower cow numbers and herd rebuilding will also limit non-fed beef pr oduction. Pork production is forecast to increase more rapidly than in 2013 as lower forecast feed costs provide incent ives for producers to expand farrowings and increase carcass weights from 2013 levels. Br oiler and turkey production are foreca st higher as lower forecast feed prices encourage expansion des pite lower poultry prices. Egg producti on for 2014 is forecast to expand as producers respond to lower feed costs.

The total red meat and poultry production forecast for 2013 is lowered from last month as lower pork, broiler, and turkey production more than offset s greater beef production. Higher cattle placements are expected to support higher fed beef production and cow slaughter has remained relatively hi gh. However, recent winter storms have affected cattle weights which are lowered s lightly from last month. Pork production is down marginally on lower forecast slaughter in the sec ond of half of 2013. Broiler production is lowered on hatchery and chick placement data to date, while turkey production is cut on lower poult placements.

Continued year-over-year declines in U.S. beef production are expected to push beef exports lower in 2014. Pork exports are expected to rebound in 2014 as s upplies increase and demand improves. Broiler exports are forecast higher on expanded supplies and moderating pric es. Beef imports are expected to be higher in 2014 as U.S. cow slaughter declines and domestic non-fed beef supplies tighten. Pork imports are forecast up fractionally from 2013.

The 2013 red meat export forecast is lowered from last month, largely due to lower expected pork exports. The beef forecast is adjusted to re flect lower first-quarter exports. P oultry exports are raised as higher broiler exports more than o ffset lower turkey exports.

For 2014, cattle prices are forecast to rise above 2013 as supplies continue to tighten. Hog prices are forecast to be slightly lower than 2013 on higher production. Broiler, turk ey, and egg prices are forecast to be below 2013 as production expands.

Cattle price forecasts for 2013 are unchanged from last m onth. Hog prices are down fractionally from last month on weaker second quarter prices . Broiler prices are forecast higher as prices remain strong.

Milk production for 2014 is forecast hi gher as lower feed costs and relatively strong milk prices are expected to support production. Commercial ex ports are forecast higher on robust international demand. Imports will be lower on greater domestic supplies. With higher domestic production, cheese, butter, and whey prices are forecast lower than last year, while nonfat dry milk (NDM) is higher lar gely on continued strength in international demand. Both Class III and Class IV prices ar e forecast lower. In t he case of Class IV, lower forecast butter prices more than offset higher NDM pric es. The all milk price is forecast at $18.85 to $19.85 per cwt for 2014.WASDE-518-5



### Forecast milk production in 2013 is unc hanged from last month. Imports ar e raised. Exports are higher as abundant U.S. supplies and competitive prices are expected to spur fo reign demand. Cheese, butter, and NDM prices are raised from last mont h while whey is lower. The Class III price is lowered as lower whey prices more than offset greater c heese prices. Class IV is up reflec ting higher prices for butter and NDM. The all milk price is forecast at $19.50 to $20.00 per cwt.

COTTON: The U.S. cotton projections for 2013/14 in clude lower production, exports, and ending stocks compared with 2012/13. Projected production is reduced 19 percent to 14.0 million bales, based on regional average abandonment and yields. Abandonment for the Southwest region is projected at 25 percent due to continued drought conditions. Domest ic mill use is projected at 3.5 million bales, 100,000 bales above 2012/13. Exports are projected at 11.5 million bales, down 13 percent from 2012/13, due to the smaller available domestic supply and lower imports by Chi na. Ending stocks are reduced to 3.0 million bales, equal to 20 percent of total use, wh ich is well below the previous 10-y ear average. The forecast range for the marketing year average price re ceived by producers is 68.0 to 88.0 cents per pound, compared with 72.0
cents estimated for 2012/13.

The initial 2013/14 world cotton proj ections show world ending stocks of nearly 93 million bales, the third consecutive seasonal record, as China’s policy of stockpiling cotton in its national reserve is assumed to continue. World production is pr ojected nearly 3 percent lower t han 2012/13 at 117.8 million bales, as reductions, mainly for the United St ates, China, Turkey, Greece, and Me xico, are partially offset by increases for Brazil, India, Pakistan, and Australia. Wo rld consumption is expected to rise 2 percent due to modest growth in world GDP. World trade is expected to fall 12 percent, as sharply lower imports by China and India are partially offset by increases for Paki stan, Turkey, Mexico and others. World ending stocks outside of China are projected to fall nearly 2.0 million bales.

China’s national reserve stocks are currently expec ted to reach nearly 40 m illion bales at the end of 2012/13. Based on the government of China’s current reserve purc hase and release prices and import quota policies, USDA is projecti ng that China will import 12.0 milli on bales in 2013/14 and will add 10 million bales to ending stocks as reserve pur chases exceed reserve sales. T he resulting projected China ending
stocks of 58.2 million bales would account for 63 percent of world stocks.

For 2012/13, the final U.S. crop produc tion estimate of 17.3 million bales is virtually unchanged from last month. U.S. exports are raised 250,000 bales, reflecting rec ent activity and stronger expected imports by China, which are raised 1.8 million bal es from last month. India’s production and consumpt ion also show significant increases.

Approved by the Secretary of Agriculture and the Chai rperson of the World Agri cultural Outlook Board, Gerald A. Bange, (202) 720-6030. This report wa s prepared by the Interagency Commodity Estimates
Committees.



### APPROVED BY:

JOSEPH W. GLAUBER
ACTING SECRETARY OF AGRICULTUREWASDE-518-6



# 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: Jerry Norton, ICEC Chair, WAOB, E-mail : jnorton@oce.usda.gov Gary Vocke, ERS; Teresa McKeivier, FAS; William Chambers, FSA.

Rice: Andrew C. Aaronson, ICEC Chair, WAOB, E-mail : aaaronson@oce.usda.gov Nathan Childs, ERS; Debbie Rubas, FAS; Mark Simone, FSA.

Feed Grains: Jerry Norton, IC EC Chair, WAOB, E-mail : jnorton@oce.usda.gov Thomas Capehart, ERS; Richard O’M eara, FAS; Pete Riley, FSA.

Oilseeds: Keith Menzie, ICEC Chair, WAOB, E-mail : kmenzie@oce.usda.gov Mark Ash, ERS; Bill George, FAS; Dale Leuck, FSA.

Cotton: Carol Skelly, ICEC Chair, WAOB, E-mail : cskelly@oce.usda.gov Darryl Earnest, AMS; Leslie Meyer, ERS; Ja mes Johnson, FAS; Scott Sanford, FSA.

Sugar: John Love, ICEC Chair, WAOB, E-mail : jlove@oce.usda.gov Stephen Haley, ERS; Ron Lord, FAS; Barbara Fecso, FSA.

Meat Animals: Shayle Shagam, ICEC Chair, WAOB, E-mail : sshagam@oce.usda.gov Sherry Wise, AMS; Kenneth Mathews, ERS; Cla ire Mezoughem, FAS; Dale Leuck, FSA.

Poultry: Shayle Shagam, ICEC Chair, WAOB, E-mail : sshagam@oce.usda.gov Larry Haller, AMS; David Harvey, ERS; Lazar o Sandoval, FAS; Milton Madison, FSA.

Dairy: Shayle Shagam, ICEC Chair, WAOB, E-mail : sshagam@oce.usda.gov Jerry Cessna, AMS; Roger Hoskin, ERS; Paul Kiendl, FAS; Milton Madison, FSA.

In 2013, the WASDE report will be released at 12:00 noon EST on Jun. 12, Jul. 11, Aug. 12, Sep. 12, Oct. 11, Nov. 8, Dec. 10.WASDE-518-7



# 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
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

### May 2013

WASDE - 518 - 8

World and U.S Supply and Use for Grains 1/

Million Metric Tons

World Output Total Supply Trade 2 / Total

Use 3 / Ending

Stocks

Total Grains 4/ 2011/12 2317.32 2781.00 343.43 2310.91 470.10

2012/13 (Est.) 2254.14 2724.23 293.22 2284.32 439.92

filler filler filler filler filler 2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 2433.66 2873.58 316.13 2393.22 480.36

filler filler filler filler filler Wheat 2011/12 697.17 896.38 157.79 696.91 199.47

2012/13 (Est.) 655.64 855.11 137.38 674.94 180.17

filler filler filler filler filler 2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 701.10 881.27 143.32 694.89 186.38

filler filler filler filler filler Coarse Grains 5/ 2011/12 1154.34 1320.09 146.52 1154.51 165.57

2012/13 (Est.) 1128.28 1293.85 117.20 1139.53 154.32

filler filler filler filler filler 2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 1253.30 1407.63 133.90 1221.49 186.13

filler filler filler filler filler Rice, milled 2011/12 465.81 564.54 39.12 459.48 105.06

2012/13 (Est.) 470.22 575.28 38.64 469.85 105.43

filler filler filler filler filler 2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 479.26 584.69 38.91 476.84 107.84

filler filler filler filler filler United States Output Total Supply Trade 2 / Total

Use 3/ Ending

Stocks

Total Grains 4/ 2011/12 384.01 447.80 72.81 325.66 49.34

2012/13 (Est.) 354.10 413.25 52.63 317.71 42.91

filler filler filler filler filler 2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 438.01 488.06 65.40 348.80 73.87

filler filler filler filler filler Wheat 2011/12 54.41 80.93 28.56 32.16 20.21

2012/13 (Est.) 61.76 85.37 27.90 37.59 19.89

filler filler filler filler filler 2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 55.98 79.40 25.17 35.98 18.25

filler filler filler filler filler Coarse Grains 5/ 2011/12 323.73 358.88 41.03 290.03 27.82

2012/13 (Est.) 286.01 319.56 21.30 276.31 21.95

filler filler filler filler filler 2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 376.00 400.83 37.10 309.16 54.57

filler filler filler filler filler Rice, milled 2011/12 5.87 8.00 3.22 3.47 1.30

2012/13 (Est.) 6.33 8.32 3.43 3.81 1.08

filler filler filler filler filler 2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 6.04 7.83 3.12 3.66 1.05

filler filler filler filler filler 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, ba rley, oats, rye, millet, and mixed grains (for U.S. excludes millet and mixed grains).

### May 2013

WASDE - 518 - 9

World and U.S. Supply and Use for Grains, Continued 1/

Million Metric Tons

Foreign 3/ Output Total Supply Trade 2 / Total

Use Ending

Stocks

Total Grains 4/ 2011/12 1,933.32 2,333.20 270.62 1,985.25 420.76

2012/13 (Est.) 1,900.04 2,310.99 240.59 1,966.61 397.00

filler filler filler filler filler 2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 1,995.65 2,385.52 250.74 2,044.43 406.48

filler filler filler filler filler Wheat 2011/12 642.76 815.45 129.23 664.76 179.26

2012/13 (Est.) 593.88 769.74 109.49 637.35 160.28

filler filler filler filler filler 2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 645.12 801.87 118.15 658.91 168.14

filler filler filler filler filler Coarse Grains 5/ 2011/12 830.62 961.21 105.49 864.48 137.75

2012/13 (Est.) 842.27 974.29 95.90 863.22 132.38

filler filler filler filler filler 2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 877.31 1,006.80 96.80 912.34 131.56

filler filler filler filler filler Rice, milled 2011/12 459.94 556.54 35.89 456.01 103.76

2012/13 (Est.) 463.89 566.96 35.21 466.04 104.35

filler filler filler filler filler 2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 473.22 576.85 35.79 473.19 106.79

filler filler filler filler filler 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 mi nus 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

Output Total Supply Trade 2 / Total

Use 3 / Ending

Stocks

World 2011/12 125.14 174.59 45.87 103.31 71.22

2012/13 (Est.) 120.95 192.17 45.01 108.15 84.78
2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 117.82 202.60 39.50 110.43 92.74

United States 2011/12 15.57 18.19 11.71 3.30 3.35

2012/13 (Est.) 17.32 20.67 13.25 3.40 4.00
2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 14.00 18.01 11.50 3.50 3.00
Foreign 4/ 2011/12 109.57 156.39 34.15 100.01 67.87

2012/13 (Est.) 103.63 171.50 31.76 104.75 80.78
2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 103.82 184.59 28.00 106.93 89.74

1/ Marketing year beginning August 1. 2/ Based on export estim ate. 3/ Includes U.S. domestic mill use only. 4/ Total Foreign is equal to world minus United States. See globa l cotton tables for treatment of export/import imbalances.

### May 2013

WASDE - 518 - 10

World and U.S. Supply and Use for Oilseeds 1/
(Million Metric Tons)

World Output Total Supply Trade Total

Use 2 / Ending

Stocks

Oilseeds 2011/12 441.93 524.69 111.19 393.73 64.93

2012/13 (Est.) 469.43 534.36 112.64 395.14 70.35
2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 491.34 561.68 124.69 408.42 82.63

Oilmeals 2011/12 266.86 277.39 80.37 262.68 11.96

2012/13 (Est.) 268.15 280.11 80.24 265.89 10.76
2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 277.59 288.35 83.36 273.19 11.30
Vegetable Oils 2011/12 156.80 171.08 63.41 151.82 17.43

2012/13 (Est.) 159.64 177.08 65.95 157.12 17.85
2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 166.11 183.96 68.12 161.84 19.63

United States

Outpu t Tota l Suppl y Trad e Tota l

Use 2 / E n ding

Stock s

Oilseeds 2011/12 92.35 100.94 37.69 50.36 5.57

2012/13 (Est.) 92.63 99.32 37.75 48.77 5.22
2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 100.89 107.05 40.16 50.18 8.82

Oilmeals 2011/12 39.52 42.93 9.16 33.43 0.34

2012/13 (Est.) 37.76 41.35 9.33 31.69 0.34
2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 38.82 42.38 9.57 32.48 0.33
Vegetable Oils 2011/12 10.05 15.49 1.15 12.79 1.54

2012/13 (Est.) 9.92 15.25 1.50 12.63 1.13
2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 9.97 14.88 1.05 12.75 1.08

filler filler filler filler filler Foreign 3/

Outpu t Tota l Suppl y Trad e Tota l

Use 2 / Endin g
Stock s

Oilseeds 2011/12 349.59 423.75 73.50 343.37 59.36

2012/13 (Est.) 376.80 435.04 74.89 346.37 65.13
2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 390.45 454.64 84.53 358.24 73.81

Oilmeals 2011/12 227.34 234.46 71.21 229.25 11.62

2012/13 (Est.) 230.40 238.75 70.91 234.21 10.42
2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 238.77 245.97 73.79 240.72 10.97
Vegetable Oils 2011/12 146.75 155.59 62.26 139.03 15.89

2012/13 (Est.) 149.72 161.82 64.45 144.50 16.73
2013/14 (Proj.) Apr NA NA NA NA NA
2013/14 (Proj.) May 156.14 169.08 67.07 149.08 18.55

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.

### May 2013

WASDE - 518 - 11

U.S. Wheat Supply and Use 1/

2011/12 2012/13 Est. 2013/14 Proj. 2013/14 Proj.

Ap r Ma y

M illion Acres

Area Planted 54.4 55.7 NA 56.4 *

Area Harvested 45.7 49.0 NA 46.7 *

B ushels Yield per Harvested Acre 43.7 46.3 NA 44.1 *

M illion Bushels Beginning Stocks 862 743 NA 731

Production 1,999 2,269 NA 2,057 Imports 112 125 NA 130 Supply, Total 2,974 3,137 NA 2,917

Food 941 945 NA 958

Seed 76 76 NA 74

Feed and Residual 164 360 NA 290 Domestic, Total 1,182 1,381 NA 1,322 Exports 1,050 1,025 NA 925 Use, Total 2,231 2,406 NA 2,247 Ending Stocks 743 731 NA 670 CCC Inventory 0 0 NA

Free Stocks 743 731 NA Outstanding Loans 0 0 NA Avg. Farm Price ($/bu) 2/ 7.24 7.80 NA 6.15 - 7.45



### U.S. Wheat by Class: Supply and Use

Year beginning June 1 Hard

Winter Hard Spring Soft

Red White Durum Total

Millio n Bushels 2012/13 (Est.) Beginning Stocks 317 151 185 64 25 743

Production 1,004 505 420 259 82 2,269

Supply, Total 3/ 1,338 700 626 331 142 3,137

Domestic Use 588 280 315 110 88 1,381

Exports 410 220 195 175 25 1,025

Use, Total 998 500 510 285 113 2,406

Ending Stocks, Total May 340 199 115 46 30 731 Ending Stocks, Total Apr 357 190 107 46 30 731

Note: Totals may not add due to rounding. 1/ Marketing year beginning June 1. 2/ Marketi ng-year weighted average price received by farmers. 3/ Includes imports. * Planted acres repor ted in the March 28, 2013, "Prospective Plantings." Harvested acres and yield for other spring wheat and durum are projected using 10-year harvested-to-planted ratios by state and 1985- 2012 yield trends by state (except Idaho durum). Winter wheat harvested acres and yield reported in the May 10, 2013,"Crop

Production."

******************************************************************************* Wheat-by-class projections for 2013/14 will first be published in the July 11, 2013, WASDE

.
*******************************************************************************

### May 2013

WASDE - 518 - 12

U.S. Feed Grain and Corn Supply and Use 1/

FEED GRAINS 2011/12 2012/13 Est. 2013/14 Proj. 2013/14 Proj.

Ap r Ma y

M illion Acres

Area Planted 102.5 109.8 NA 111.4 *

Area Harvested 91.1 96.6 NA 100.5 *

M

etric Tons Yield per Harvested Acre 3.55 2.96 NA 3.74

M illion Metric Tons Beginning Stocks 32.3 27.8 NA 21.9

Production 323.6 285.8 NA 375.8 Imports 2.7 5.5 NA 2.7 Supply, Total 358.5 319.2 NA 400.5

Feed and Residual 119.5 117.4 NA 141.4

Food Seed & Industrial 170.2 158.5 NA 167.4 Domestic, Total 289.7 276.0 NA 308.8 Exports 41.0 21.3 NA 37.1 Use, Total 330.7 297.2 NA 345.9 Ending Stocks 27.8 21.9 NA 54.6 CCC Inventory 0.0 0.0 NA

Free Stocks 27.8 21.9 NA Outstanding Loans 1.1 1.3 NA

CORN 2011 / 12 201 2 / 13 Est

. 2013 / 14 Proj

. 2013 / 14 Proj

.

Apri l Ma y M illion Acres

Area Planted 91.9 97.2 NA 97.3 *

Area Harvested 84.0 87.4 NA 89.5 *

B ushels Yield per Harvested Acre 147.2 123.4 NA 158.0 *

M illion Bushels Beginning Stocks 1,128 989 NA 759

Production 12,360 10,780 NA 14,140 Imports 29 125 NA 25 Supply, Total 13,516 11,894 NA 14,924

Feed and Residual 4,545 4,400 NA 5,325 Food, Seed & Industrial 2/ 6,439 5,985 NA 6,295 Ethanol & by-products 3/ 5,011 4,600 NA 4,850 Domestic, Total 10,985 10,385 NA 11,620 Exports 1,543 750 NA 1,300 Use, Total 12,527 11,135 NA 12,920 Ending Stocks 989 759 NA 2,004 CCC Inventory 0 0 NA

Free Stocks 989 759 NA Outstanding Loans 41 50 NA Avg. Farm Price ($/bu) 4/ 6.22 6.70 - 7.10 NA 4.30 - 5.10

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 F eed Outlook table 5 or access the data on the Web through the Feed Grains Database at www.ers.usda.gov/data-products/feed-g rains-database.aspx. 3/ Corn processed in ethanol plants to produce ethanol and by-produc ts including distillers' grains, corn gluten feed , corn gluten meal, and corn oil. 4/ Marketing-year weighted average price recei ved by farmers. * Planted acres reported in the March 28, 2013, "Prosp ective Plantings." For corn, ha rvested acres projected based o n historical abandonment and use for silage. Projected yi eld based on a weather adjusted trend, lowe red to reflect the asymmetric yield res ponse to July precipitation and the slow pace of planting progress as of early May. (See Westcott and Jewison, Weather Effects on Expec ted Corn and Soybean Yields, USDA Agricultural Outlook Forum 2013, February 22, 2013.)

### May 2013

WASDE - 518 - 13

U.S. Sorghum, Barley, and Oats Supply and Use 1/

SORGHUM 2011/12 2012/13 Est. 2013/14 Proj. 2013/14 Proj.

Ap r Ma y

Million Bushels

Filler Filler Filler Filler Filler Area Planted (mil. acres) 5.5 6.2 NA 7.6 * Area Harvested (mil. acres) 3.9 5.0 NA 6.6 * Yield (bushels/acre) 54.6 49.8 NA 64.4 * Beginning Stocks 27 23 NA 22

Production 214 247 NA 425 Imports 0 12 NA 0 Supply, Total 242 282 NA 447

Feed and Residual 71 100 NA 120 Food, Seed & Industrial 85 80 NA 120

Total Domestic 156 180 NA 240 Exports 63 80 NA 150 Use, Total 219 260 NA 390 Ending Stocks 23 22 NA 57 Avg. Farm Price ($/bu) 2/ 5.99 6.65 - 7.05 NA 3.90 - 4.70

Filler Filler Filler Filler Filler BARLEY 2011 / 12 201 2 / 13 Est

. 2013 / 14 Proj

. 2013 / 14 Proj

.

Apri l Ma y

Filler Filler Filler Filler Filler Area Planted (mil. acres) 2.6 3.6 NA 3.6 * Area Harvested (mil. acres) 2.2 3.2 NA 3.2 * Yield (bushels/acre) 69.6 67.9 NA 68.8 * Beginning Stocks 89 60 NA 74

Production 156 220 NA 220 Imports 16 23 NA 20 Supply, Total 261 303 NA 314

Feed and Residual 38 65 NA 75 Food, Seed & Industrial 155 155 NA 155

Total Domestic 193 220 NA 230 Exports 9 9 NA 10 Use, Total 201 229 NA 240 Ending Stocks 60 74 NA 74 Avg. Farm Price ($/bu) 2/ 5.35 6.40 NA 5.30 - 6.30

Filler Filler Filler Filler Filler OATS 2011 / 12 201 2 / 13 Est

. 2013 / 14 Proj

. 2013 / 14 Proj

.

Apri l Ma y

Filler Filler Filler Filler Filler Area Planted (mil. acres) 2.5 2.8 NA 2.9 * Area Harvested (mil. acres) 0.9 1.0 NA 1.2 * Yield (bushels/acre) 57.1 61.3 NA 63.5 * Beginning Stocks 68 55 NA 32

Production 54 64 NA 73 Imports 94 90 NA 95 Supply, Total 215 209 NA 200

Feed and Residual 82 100 NA 80 Food, Seed & Industrial 76 76 NA 77

Total Domestic 158 176 NA 157 Exports 2 1 NA 3 Use, Total 160 177 NA 160 Ending Stocks 55 32 NA 40 Avg. Farm Price ($/bu) 2/ 3.49 3.85 NA 2.70 - 3.30

Filler Filler Filler Filler Filler Note: Totals may not add due to rounding. 1/ Marketing y ear beginning September 1 for sorghum; June 1 for barley and oats. 2/ Marketing-year weighted av erage price received by farmers. * Plan ted acres reported in the March 28, 2013, "Prospective Plantings." Harvested area - For sorghum, harves ted acres are based on the 5-year Olympic average harvestedto-planted ratio, 2007-2011. For barley and oats, harvested acr es are based on the 5-year average harvested-to-planted ratios, 2008-2012. Yield - For sorghum the projected yield is based on the average for 1990-2012 excluding years that are more than 1 standard deviation from the mean for the period. For barley and oats, projected yields are based on the 1990- 2012 trends. Shown yields reflect production rounding.

### May 2013

WASDE - 518 - 14

U.S. Rice Supply and Use 1/
(Rough Equivalent of Rough and Milled Rice)

TOTAL RICE 2011/12 2012/13 Est. 2013/14 Proj. 2013/14 Proj.

Ap r Ma y

M illion Acres

Area Planted 2.69 2.70 NA 2.61 *

Area Harvested 2.62 2.68 NA 2.59 *

Filler P ounds Yield per Harvested Acre 7,067 7,449 NA 7,317 *

Million Hundredweight Beginning Stocks 2/ 48.5 41.1 NA 34.1

Production 184.9 199.5 NA 189.5 Imports 19.4 21.5 NA 22.5 Supply, Total 252.8 262.1 NA 246.1

Domestic & Residual 3/ 110.1 120.0 NA 115.0 Exports, Total 4/ 101.6 108.0 NA 98.0 Rough 32.7 36.0 NA 36.0 Milled (rough equiv.) 68.9 72.0 NA 62.0 Use, Total 211.7 228.0 NA 213.0 Ending Stocks 41.1 34.1 NA 33.1 Avg. Milling Yield (%) 5/ 69.93 70.00 NA 70.25 Avg. Farm Price ($/cwt) 6/ 14.50 14.70 - 15.10 NA 14.30 - 15.30

Total

LONG-GRAIN RICE 2011 / 12 201 2 / 13 Est

. 2013 / 14 Proj

. 2013 / 14 Proj

.

Apri l Ma y Harvested Acres (mil.) 1.74 1.98 Yield (pounds/acre) 6,691 7,285 Beginning Stocks 35.6 24.3 NA 20.4

Production 116.4 144.2 NA 135.5 Supply, Total 7/ 168.9 187.4 NA 175.9

Domestic & Residual 3/ 77.9 90.0 NA 85.0 Exports 8/ 66.8 77.0 NA 69.0 Use, Total 144.7 167.0 NA 154.0 Ending Stocks 24.3 20.4 NA 21.9 Avg. Farm Price ($/cwt) 6/ 13.40 14.20 - 14.60 NA 13.80 - 14.80

Filler Filler Filler Filler Filler

MEDIUM & SHORT-GRAIN RICE 2011 / 12 201 2 / 13 Est

. 2013 / 14 Proj

. 2013 / 14 Proj

.

Apri l Ma y Harvested Acres (mil.) 0.88 0.70 Yield (pounds/acre) 7,812 7,914 Beginning Stocks 10.1 14.7 NA 11.5

Production 68.6 55.3 NA 54.0 Supply, Total 7/ 81.7 72.5 NA 68.0

Domestic & Residual 3/ 32.2 30.0 NA 30.0 Exports 8/ 34.8 31.0 NA 29.0 Use, Total 67.0 61.0 NA 59.0 Ending Stocks 14.7 11.5 NA 9.0 Avg. Farm Price ($/cwt) 6/ 9/ 17.10 15.80 - 16.20 NA 15.50 - 16.50

Filler Filler Filler Filler 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 beginning stocks by type (in mil. cw t): 2011/12-2.7; 2012/13-2.1; 2013/14-2.1. 3/ Residua l 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 beginni ng and ending stocks. 4/ Include s rough rice and milled rice expor ts. Milled rice exports are conve rted to an equivalent rough basis. 5/ Expressed as a percent, i.e ., the total quantity of whole kernel and br oken rice produced divided by the quantity of rough rice milled. Data supplied by the USA Rice Federation. The 2013/14 milling yield is calculated using the previous five-year Olympic average--2008/09-2012/13. 6/ Marketing-year weighted a verage 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 cr op 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 $1.68 per cwt from 2008/09 through 2011/12, with a high of $3.50 per cwt in 200 8/09 and a low of $0.60 per cwt in 2009/10. * Planted acres reported in Ma rch 28, 2013, "Prospective Plantings." Harvested acres are estim ated using the average harvested-to-planted ratios by rice class, 2008-2012. Projected yield is based on linear tre nd analysis by rice class for the period 1982/83 to 2012/13.

### May 2013

WASDE - 518 - 15

U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/

SOYBEANS 2011/12 2012/13 Est. 2013/14 Proj. 2013/14 Proj.

Ap r Ma y

Filler Filler Filler Filler Filler M illion Acres

Area Planted 75.0 77.2 NA 77.1 *

Area Harvested 73.8 76.1 NA 76.2 *

Filler B ushels Yield per Harvested Acre 41.9 39.6 NA 44.5 *

M illion Bushels Beginning Stocks 215 169 NA 125

Production 3,094 3,015 NA 3,390 Imports 16 20 NA 15 Supply, Total 3,325 3,204 NA 3,530 Crushings 1,703 1,635 NA 1,695 Exports 1,362 1,350 NA 1,450

Seed 90 90 NA 87

Residual 1 5 NA 33 Use, Total 3,155 3,080 NA 3,264 Ending Stocks 169 125 NA 265 Avg. Farm Price ($/bu) 2/ 12.50 14.30 NA 9.50 - 11.50

Total

SOYBEAN OIL 2011 / 12 201 2 / 13 Est

. 2013 / 14 Proj

. 2013 / 14 Proj

.

Apri l Ma y

Filler Filler Filler Filler Filler M illion Pounds Beginning Stocks 2,425 2,540 NA 1,635

Production 19,740 19,295 NA 19,495 Imports 149 350 NA 250 Supply, Total 22,314 22,185 NA 21,380 Domestic Disappearance 18,310 18,350 NA 18,550

Biodiesel 3/ 4,870 4,900 NA 5,400 Food, Feed & other Industrial 13,440 13,450 NA 13,150 Exports 1,464 2,200 NA 1,300 Use, Total 19,774 20,550 NA 19,850 Ending stocks 2,540 1,635 NA 1,530 Avg. Price (c/lb) 2/ 51.90 49.00 NA 47.00 - 51.00

Total

SOYBEAN MEAL 2011 / 12 201 2 / 13 Est

. 2013 / 14 Proj

. 2013 / 14 Proj

.

Apri l Ma y

Filler 1 2 3 4 Thousand Shor t Tons Beginning Stocks 350 300 NA 300

Production 41,025 38,950 NA 40,235 Imports 216 350 NA 165 Supply, Total 41,591 39,600 NA 40,700 Domestic Disappearance 31,550 29,400 NA 30,200 Exports 9,741 9,900 NA 10,200 Use, Total 41,291 39,300 NA 40,400 Ending Stocks 300 300 NA 300 Avg. Price ($/s.t.) 2/ 393.53 425.00 NA 280.00 - 320.00

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; oi l, simple average of crude soybean oil, Decatur; meal, simple average of 48 percent protein, Decat ur. 3/ Source: U.S. Energy Information Administration. * Planted acres are reporte d in the March 28, 2013 "Prospective Plantings ". Harvested acres based on the 5-yea r average harvested-to-planted ratio. Projected yields based on 1988-2012 tr end analysis adjusted for w eather during the growing season.

### May 2013

WASDE - 518 - 16

U.S. Sugar Supply and Use 1/

2011/12 2012/13 Est. 2012/13 Est. 2013/14 Proj.

Ap r Ma y Ma y

Filler Filler Filler Filler Filler 1,000 Short Tons, R aw Value
Beginning Stocks 1,378 1,985 1,985 2,168

Production 2/ 8,488 8,980 9,015 8,584 Beet Sugar 4,900 5,100 5,100 4,840 Cane Sugar 3,588 3,880 3,915 3,744

Florida 1,828 1,850 1,866 1,833

Hawaii 172 180 180 180

Louisiana 1,438 1,700 1,700 1,561

Texas 150 150 169 170 Imports 3,631 3,036 2,903 3,438 TRQ 3/ 1,883 1,154 1,094 1,265 Other Program 4/ 664 225 125 400

Other 5/ 1,084 1,657 1,684 1,773

Mexico 1,071 1,647 1,674 1,763 Total Supply 13,497 14,001 13,903 14,190

Exports 269 175 200 200

Deliveries 11,243 11,690 11,535 11,745

Food 6/ 11,070 11,480 11,400 11,560

Other 7/ 173 210 135 185

Miscellaneous 0000

Total Use 11,512 11,865 11,735 11,945 Ending Stocks 1,985 2,136 2,168 2,245

Stocks to Use Ratio 17.2 18.0 18.5 18.8

Total

1/ Fiscal years beginning Oct 1. Historical data are from FSA "Sweetener Market Data". 2/ Production projections for 2013/14 ar e based on March 30 Prospective Plantings and trend yields. 3/ For 2013/14, includes only U.S. commitments under current trade agreements, minus shortfall. The Secretary will establish the actual level of the TRQ at a later date. For 2012/13, shortfall (460). For 2013/14, shortfall (200). 4/ Includes sugar under the re-e xport and polyhydric alcohol programs. 5/ For 2011/12, other hig htier (13) and other (0). For 2012/13, other high-tier (10) and ot her (0). For 2013/14, other high-tier (10) and other (0). 6/C ombines

SMD deliveries for domestic human food use and SMD miscellaneous uses. 7/ Transfers to sugar-containing products for reexport,

and for nonedible alcohol and feed.



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

Beginning

Stocks Production Imports Domestic 2/ Exports Ending

Stocks

Sugar 1,000 Metric Tons, Actual Weight

2012/13 Est. Apr 966 6,117 112 4,540 1,520 1,135

2012/13 Est. May 966 6,215 137 4,540 1,618 1,160

2013/14 Proj. Apr NA NA NA NA NA NA 2013/14 Proj. May 1,160 5,887 137 4,600 1,519 1,065

1/ HFCS imports by Mexico (1,000 metric tons, dry basi s): Oct-Sep 2011/12 = 1,283; Oct-Feb 2011/12 = 589; Oct-Feb 2012/13 = 549. Footnote source: Comite Nacional para el Desarollo Sustenta ble de la Cana de Azucar. 2/Includes domestic consumption, Mexico's products export program (IMMEX), and any residual st atistical discrepancies. IMMEX: 2012/13 (340 est), 2013/14 (340 proj).

### May 2013

WASDE - 518 - 17

U.S. Cotton Supply and Use 1/

2011/012 2012/013 Est. 2013/014 Proj. 2013/014 Proj.

Ap r Ma y

Filler Filler Filler Filler Filler Area M illion Acres

Planted 14.74 12.31 NA 10.03 *

Harvested 9.46 9.37 NA 8.40 *

Filler P ounds Yield per Harvested Acre 790 887 NA 800 *

M illion 480 Pound Bales Beginning Stocks 2.60 3.35 NA 4.00

Production 15.57 17.32 NA 14.00 Imports 0.02 0.01 NA 0.01 Supply, Total 18.19 20.67 NA 18.01

Domestic Use 3.30 3.40 NA 3.50 Exports, Total 11.71 13.25 NA 11.50 Use, Total 15.01 16.65 NA 15.00

Unaccounted 2/ -0.17 0.02 NA 0.01 Ending Stocks 3.35 4.00 NA 3.00 Avg. Farm Price 3/ 88.3 72.0 NA 68.0 - 88.0

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 differe nce between the previous season's supply less total use and ending stocks. 3/ Cents per pound for upland cotton. *Plant ed acres as reported in the March 28, 2013 Prospective Plantings. Production based on the 2010/11 through 2012/13 aver age area abandonment and yield per harvested acre, weighted by region. Abandonment for the Southwest regi on is estimated at 25 percent due to continued drought

conditions.

### May 2013

WASDE - 518 - 18

World Wheat Supply and Use 1/
(Million Metric Tons)



### 2011/12 Beginning Stocks Production Imports Domestic

Feed Domestic

Total 2 / Exports Ending

Stocks

World 3/ 199.21 697.17 148.68 145.96 696.91 157.79 199.47

United States 23.47 54.41 3.05 4.46 32.16 28.56 20.21 Total Foreign 175.74 642.76 145.63 141.50 664.76 129.23 179.26 Major Exporters 4/ 31.33 208.04 7.99 65.00 148.56 71.48 27.32 Argentina 4.11 15.50 0.01 0.10 5.95 12.90 0.76

Australia 8.18 29.92 0.12 3.20 6.51 24.66 7.06

Canada 7.36 25.29 0.49 4.70 9.85 17.35 5.93

EU-27 5/ 11.68 137.33 7.37 57.00 126.25 16.57 13.56 Major Importers 6/ 89.31 188.50 79.71 37.88 261.31 7.71 88.50

Brazil 1.86 5.80 7.31 0.50 11.20 2.04 1.73

China 59.09 117.40 2.93 24.00 122.50 0.98 55.95

Sel. Mideast 7/ 7.59 17.62 16.26 3.83 33.92 1.33 6.21

N. Africa 8/ 12.21 18.31 24.24 3.18 40.57 0.45 13.74

Pakistan 3.26 25.00 0.20 0.40 23.10 1.10 4.26

Southeast Asia 9/ 3.93 0.00 17.40 3.98 16.02 0.73 4.58

Selected Other 0.00

India 15.36 86.87 0.02 3.10 81.41 0.89 19.95

FSU-12 23.67 115.03 8.02 27.85 79.78 39.82 27.13

Russia 13.74 56.24 0.55 15.50 38.00 21.63 10.90

Kazakhstan 2.88 22.73 0.01 2.60 7.40 11.84 6.38

Ukraine 3.34 22.32 0.08 6.10 14.95 5.44 5.36



### 2012/13 Est. Beginning

Stocks Production Imports Domestic

Feed Domestic

Total 2 / Exports Ending

Stocks

World 3/ 199.47 655.64 141.97 130.20 674.94 137.38 180.17

United States 20.21 61.76 3.40 9.80 37.59 27.90 19.89 Total Foreign 179.26 593.88 138.57 120.41 637.35 109.49 160.28 Major Exporters 4/ 27.32 192.34 6.30 58.50 142.94 63.00 20.02 Argentina 0.76 11.00 0.01 0.10 6.00 5.00 0.77

Australia 7.06 22.08 0.12 3.70 7.04 18.00 4.22

Canada 5.93 27.20 0.48 4.70 9.90 18.50 5.21

EU-27 5/ 13.56 132.06 5.70 50.00 120.00 21.50 9.82 Major Importers 6/ 88.50 186.94 77.28 30.24 257.29 6.86 88.57

Brazil 1.73 4.30 7.70 0.40 11.10 1.70 0.93

China 55.95 120.60 3.20 20.00 120.00 1.00 58.75

Sel. Mideast 7/ 6.21 17.42 19.98 2.48 33.18 1.04 9.39

N. Africa 8/ 13.74 17.23 20.70 2.28 40.39 0.58 10.71

Pakistan 4.26 23.30 0.20 0.40 23.40 0.80 3.56

Southeast Asia 9/ 4.58 0.00 15.30 3.19 15.63 0.74 3.52

Selected Other 0.00

India 19.95 94.88 0.01 3.40 84.14 6.50 24.20

FSU-12 27.13 77.21 6.81 20.53 71.87 24.93 14.36

Russia 10.90 37.72 1.00 11.50 33.50 10.70 5.42

Kazakhstan 6.38 9.84 0.01 2.00 6.80 6.50 2.93

Ukraine 5.36 15.76 0.10 3.50 12.00 7.00 2.22
1/ Aggregate of local marketing years. 2/ Total foreign and wo rld use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to di fferences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada , and the EU-27. 5/ Trade exclude s intra-trade. 6/ Brazil, Chin a, 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/ Algeri a, Egypt, Libya, Morocco, and Tuni sia. 9/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam.

### May 2013

WASDE - 518 - 19

World Wheat Supply and Use 1/ (Cont'd.) (Million Metric Tons)



### 2013/14 Proj. Beginning Stocks Production Imports Domestic

Feed Domestic

Total 2 / Exports Ending

Stocks

World 3/ Apr NA NA NA NA NA NA NA May 180.17 701.10 140.43 136.49 694.89 143.32 186.38

United States Apr NA NA NA NA NA NA NA May 19.89 55.98 3.54 7.89 35.98 25.17 18.25 Total Foreign Apr NA NA NA NA NA NA NA May 160.28 645.12 136.90 128.60 658.91 118.15 168.14 Major Exporters 4/ Apr NA NA NA NA NA NA NA May 20.02 205.27 7.12 62.30 146.55 59.50 26.35 Argentina Apr NA NA NA NA NA NA NA May 0.77 13.00 0.01 0.10 6.05 7.00 0.72

Australia Apr NA NA NA NA NA NA NA May 4.22 24.50 0.12 3.70 7.05 17.00 4.79

Canada Apr NA NA NA NA NA NA NA May 5.21 29.00 0.49 4.50 9.70 18.50 6.50

EU-27 5/ Apr NA NA NA NA NA NA NA May 9.82 138.77 6.50 54.00 123.75 17.00 14.35 Major Importers 6/ Apr NA NA NA NA NA NA NA May 88.57 194.69 74.14 30.61 260.02 6.22 91.15

Brazil Apr NA NA NA NA NA NA NA May 0.93 5.00 7.50 0.40 11.20 1.00 1.23

China Apr NA NA NA NA NA NA NA May 58.75 121.00 3.50 20.00 120.50 1.00 61.75

Sel. Mideast 7/ Apr NA NA NA NA NA NA NA May 9.39 19.99 15.84 3.58 34.64 1.04 9.54

N. Africa 8/ Apr NA NA NA NA NA NA NA May 10.71 20.46 20.60 2.28 41.06 0.58 10.13

Pakistan Apr NA NA NA NA NA NA NA May 3.56 24.00 0.20 0.40 23.50 0.80 3.46

Southeast Asia 9/ Apr NA NA NA NA NA NA NA May 3.52 0.00 16.60 3.16 16.12 0.71 3.29

Selected Other

India Apr NA NA NA NA NA NA NA May 24.20 92.00 0.01 3.50 87.01 8.00 21.20

FSU-12 Apr NA NA NA NA NA NA NA May 14.36 107.09 6.76 25.30 76.31 35.70 16.20

Russia Apr NA NA NA NA NA NA NA May 5.42 56.00 0.50 15.50 37.50 18.00 6.42

Kazakhstan Apr NA NA NA NA NA NA NA May 2.93 15.00 0.01 2.40 7.20 7.50 3.24

Ukraine Apr NA NA NA NA NA NA NA May 2.22 22.00 0.10 4.00 12.00 9.50 2.82

1/ Aggregate of local marketing years. 2/ Total foreign and wo rld use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not balance due to di fferences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Australia, Canada , and the EU-27. 5/ Trade exclude s intra-trade. 6/ Brazil, Chin a, 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.

### May 2013

WASDE - 518 - 20

World Coarse Grain Supply and Use 1/
(Million Metric Tons)



### 2011/12 Beginning Stocks Production Imports Domestic

Feed Domestic

Total 2 / Exports Ending

Stocks

World 3/ 165.74 1,154.34 128.24 656. 33 1,154.51 146.52 165.57

United States 32.29 323.73 2.87 119.60 290.03 41.03 27.82 Total Foreign 133.45 830.62 125.38 536.74 864.48 105.49 137.75 Major Exporters 4/ 24.96 154.23 2.13 74.75 101.70 60.43 19.19 Argentina 5.68 30.11 0.01 6.85 10.51 23.86 1.43

Australia 1.54 12.35 0.00 4.33 5.91 6.92 1.06

Brazil 10.61 75.88 1.09 45.54 53.74 24.34 9.51

Canada 3.55 22.92 0.90 13.04 20.28 3.70 3.39 Major Importers 5/ 36.87 227.42 92.02 233.28 310.63 7.75 37.92

EU-27 6/ 16.30 147.71 7.02 111.24 148.76 6.47 15.80 Japan 1.18 0.18 17.73 13.18 17.99 0.00 1.09

Mexico 2.10 25.75 12.76 21.48 38.05 0.69 1.87

N. Afr & Mideast 7/ 10.51 28.01 25.01 44.26 51.83 0.23 11.47

Saudi Arabia 1.65 0.45 10.53 9.13 9.50 0.00 3.13

Southeast Asia 8/ 3.05 25.08 6.75 23.96 31.87 0.36 2.65

South Korea 1.64 0.21 7.73 5.73 8.03 0.00 1.54

Selected Other 0.00

China 50.13 199.30 7.92 132.40 196.99 0.13 60.23

FSU-12 5.50 78.67 1.05 38.57 54.28 24.61 6.32

Russia 1.88 33.08 0.41 18.00 27.63 5.82 1.91

Ukraine 2.15 33.48 0.10 11.70 15.56 17.74 2.42



### 2012/13 Est.

Beginnin g
Stock s Productio n Import s Domesti c
Fee d Domesti c
Total 2 / Export s Endin g
Stock s

World 3/ 165.57 1,128.28 124.13 669. 27 1,139.53 117.20 154.32

United States 27.82 286.01 5.73 117.54 276.31 21.30 21.95 Total Foreign 137.75 842.27 118.40 551.73 863.22 95.90 132.38 Major Exporters 4/ 19.19 163.77 1.77 77.46 105.89 58.39 20.44 Argentina 1.43 37.65 0.01 7.39 11.70 25.91 1.48

Australia 1.06 10.34 0.00 3.96 5.54 4.95 0.91

Brazil 9.51 78.77 1.11 47.34 56.09 21.53 11.76

Canada 3.39 24.30 0.55 13.71 21.19 4.28 2.77 Major Importers 5/ 37.92 225.97 88.58 237.12 315.60 6.12 30.76

EU-27 6/ 15.80 143.12 11.06 114.31 152.73 5.76 11.49 Japan 1.09 0.18 18.01 13.40 18.21 0.00 1.07

Mexico 1.87 29.08 9.90 21.75 38.67 0.10 2.08

N. Afr & Mideast 7/ 11.47 27.18 20.63 42.73 50.00 0.13 9.16

Saudi Arabia 3.13 0.45 9.73 9.85 10.43 0.00 2.87

Southeast Asia 8/ 2.65 25.69 6.72 24.86 32.77 0.14 2.15

South Korea 1.54 0.22 8.09 6.04 8.32 0.00 1.53

Selected Other 0.00

China 60.23 214.79 5.65 145.50 216.28 0.11 64.29

FSU-12 6.32 69.02 0.77 35.30 50.18 21.31 4.63

Russia 1.91 28.66 0.30 16.20 24.93 4.76 1.18

Ukraine 2.42 29.53 0.08 10.40 14.14 15.87 2.02

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 adjust ed 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 som e countries. 4/ Argentina, Australia, Canada, Brazil, a nd South Africa. 5/ The EU-27, Mexico, Japa n, selected North Africa and Middle East, South Korea, Southeast Asia, and Taiwan. 6/ Trad e excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya, Morocco, Syri a, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam.

### May 2013

WASDE - 518 - 21

World Coarse Grain Supply and Use 1/ (Cont'd.)
(Million Metric Tons)



### 2013/14 Proj. Beginning Stocks Production Imports Domestic

Feed Domestic

Total 2 / Exports Ending

Stocks

World 3/ Apr NA NA NA NA NA NA NA May 154.32 1,253.30 126.36 717. 70 1,221.49 133.90 186.13

United States Apr NA NA NA NA NA NA NA May 21.95 376.00 2.89 141.48 309.16 37.10 54.57 Total Foreign Apr NA NA NA NA NA NA NA May 132.38 877.31 123.48 576.23 912.34 96.80 131.56 Major Exporters 4/ Apr NA NA NA NA NA NA NA May 20.44 162.13 1.87 78.71 107.85 53.54 23.05 Argentina Apr NA NA NA NA NA NA NA May 1.48 36.86 0.01 7.70 12.36 23.91 2.09

Australia Apr NA NA NA NA NA NA NA May 0.91 11.14 0.00 4.11 5.69 5.25 1.11

Brazil Apr NA NA NA NA NA NA NA May 11.76 74.81 1.21 48.36 57.13 18.01 12.64

Canada Apr NA NA NA NA NA NA NA May 2.77 25.83 0.55 13.40 21.10 4.35 3.69 Major Importers 5/ Apr NA NA NA NA NA NA NA May 30.76 239.84 88.71 241.49 321.53 7.06 30.72

EU-27 6/ Apr NA NA NA NA NA NA NA May 11.49 151.60 7.36 112.83 152.10 6.56 11.78 Japan Apr NA NA NA NA NA NA NA May 1.07 0.19 18.54 13.92 18.73 0.00 1.06

Mexico Apr NA NA NA NA NA NA NA May 2.08 30.47 10.25 22.95 40.22 0.15 2.43

N. Afr & Mideast 7/ Apr NA NA NA NA NA NA NA May 9.16 30.51 22.23 45.37 52.79 0.11 9.00

Saudi Arabia Apr NA NA NA NA NA NA NA May 2.87 0.35 9.90 9.93 10.50 0.00 2.62

Southeast Asia 8/ Apr NA NA NA NA NA NA NA May 2.15 26.46 7.70 26.07 34.17 0.24 1.89

South Korea Apr NA NA NA NA NA NA NA May 1.53 0.21 8.29 6.25 8.52 0.00 1.51

Selected Other

China Apr NA NA NA NA NA NA NA May 64.29 218.48 9.45 157.40 233.13 0.11 58.99

FSU-12 Apr NA NA NA NA NA NA NA May 4.63 82.39 0.79 38.40 55.38 25.94 6.48

Russia Apr NA NA NA NA NA NA NA May 1.18 36.10 0.30 18.60 28.90 6.41 2.27

Ukraine Apr NA NA NA NA NA NA NA May 2.02 34.55 0.08 10.95 15.13 18.68 2.84

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 adjust ed 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 di screpancies in some countries. 4/ Argentina, Australia, Canada, Brazil, and South Africa. 5/ The EU-27, Mexico, Japan, selected No rth Africa and Middle East, South Korea, S outheast Asia, and Taiwan. 6/ Trade excludes intra-trade. 7/ Algeria, Egyp t, Iran, Israel, Jordan, Libya, Morocco, Syria, Tunisia, and T urkey. 8/ Indonesia, Malaysia, Philippine s, Thailand, and Vietnam.

### May 2013

WASDE - 518 - 22

World Corn Supply and Use 1/
(Million Metric Tons)



### 2011/12 Beginning Stocks Production Imports Domestic

Feed Domestic

Total 2 / Exports Ending

Stocks

World 3/ 128.11 882.96 100.02 505.36 878.85 116.78 132.22

United States 28.64 313.95 0.74 115.46 279.02 39.18 25.12 Total Foreign 99.47 569.01 99.29 389.90 599.83 77.60 107.10 Major Exporters 4/ 17.82 106.47 0.79 52.75 68.20 43.08 13.80 Argentina 4.13 21.00 0.01 4.80 7.00 17.15 0.99

Brazil 10.28 73.00 0.77 43.00 50.50 24.34 9.21

South Africa 3.42 12.47 0.01 4.95 10.70 1.60 3.60 Major Importers 5/ 12.90 115.44 58.09 119.09 166.84 4.28 15.31 Egypt 1.27 5.50 7.15 9.70 11.70 0.01 2.22

EU-27 6/ 4.83 66.09 6.21 52.00 67.20 3.21 6.71 Japan 0.62 0.00 14.89 10.40 14.90 0.00 0.61

Mexico 1.11 18.73 11.12 13.20 29.00 0.69 1.27

Southeast Asia 7/ 3.05 25.03 6.74 23.90 31.80 0.36 2.64

South Korea 1.59 0.07 7.64 5.69 7.82 0.00 1.48

Selected Other 0.00

Canada 1.26 11.36 0.87 6.40 11.64 0.49 1.37

China 49.42 192.78 5.23 131.00 188.00 0.09 59.34

FSU-12 1.90 34.12 0.33 13.85 16.32 17.49 2.55

Ukraine 1.12 22.84 0.05 6.50 7.80 15.16 1.05



### 2012/13 Est.

Beginning

Stocks Production Imports Domestic

Feed Domestic

Total 2 / Exports Ending

Stocks

World 3/ 132.22 857.12 96.57 518.35 863.92 89.03 125.43

United States 25.12 273.83 3.18 111.77 263.79 19.05 19.29 Total Foreign 107.10 583.29 93.39 406.59 600.12 69.98 106.14 Major Exporters 4/ 13.80 114.70 0.84 55.00 71.40 42.20 15.73 Argentina 0.99 26.50 0.01 5.00 7.60 19.00 0.90

Brazil 9.21 76.00 0.80 45.00 53.00 21.50 11.51

South Africa 3.60 12.20 0.03 5.00 10.80 1.70 3.32 Major Importers 5/ 15.31 109.72 56.00 119.10 167.93 1.24 11.86 Egypt 2.22 5.80 4.00 8.70 10.70 0.01 1.31

EU-27 6/ 6.71 56.65 10.50 52.50 68.40 1.00 4.46 Japan 0.61 0.00 15.00 10.50 15.00 0.00 0.61

Mexico 1.27 21.50 7.50 12.50 28.70 0.10 1.47

Southeast Asia 7/ 2.64 25.63 6.70 24.80 32.70 0.13 2.15

South Korea 1.48 0.08 8.00 6.00 8.10 0.00 1.47

Selected Other 0.00

Canada 1.37 13.06 0.50 7.00 12.50 1.00 1.43

China 59.34 208.00 3.00 144.00 207.00 0.05 63.29

FSU-12 2.55 32.40 0.29 14.97 17.54 16.16 1.54

Ukraine 1.05 20.92 0.05 6.40 7.70 13.50 0.82

1/ Aggregate of local marketing years. 2/ Total forei gn 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 EU-27, Mexico, Japan, South Ko rea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia , Philippines, Thailand, and Vietnam.

### May 2013

WASDE - 518 - 23

World Corn Supply and Use 1/ (Cont'd.) (Million Metric Tons)



### 2013/14 Proj. Beginning Stocks Production Imports Domestic

Feed Domestic

Total 2 / Exports Ending

Stocks

World 3/ Apr NA NA NA NA NA NA NA May 125.43 965.94 98.68 561.67 936.74 104.62 154.63

United States Apr NA NA NA NA NA NA NA May 19.29 359.17 0.64 135.26 295.16 33.02 50.91 Total Foreign Apr NA NA NA NA NA NA NA May 106.14 606.77 98.05 426.41 641.57 71.60 103.72 Major Exporters 4/ Apr NA NA NA NA NA NA NA May 15.73 112.00 0.84 56.40 73.30 38.50 16.77 Argentina Apr NA NA NA NA NA NA NA May 0.90 27.00 0.01 5.30 8.30 18.50 1.11

Brazil Apr NA NA NA NA NA NA NA May 11.51 72.00 0.80 46.00 54.00 18.00 12.31

South Africa Apr NA NA NA NA NA NA NA May 3.32 13.00 0.03 5.10 11.00 2.00 3.35 Major Importers 5/ Apr NA NA NA NA NA NA NA May 11.86 118.94 54.08 119.70 169.93 2.90 12.06

filler filler filler filler filler filler filler Egypt Apr NA NA NA NA NA NA NA May 1.31 5.60 4.90 8.90 10.90 0.01 0.90

EU-27 6/ Apr NA NA NA NA NA NA NA May 4.46 63.80 7.00 51.00 67.80 2.50 4.96 Japan Apr NA NA NA NA NA NA NA May 0.61 0.00 15.50 11.00 15.50 0.00 0.61

Mexico Apr NA NA NA NA NA NA NA May 1.47 23.00 6.50 12.50 29.00 0.15 1.82

Southeast Asia 7/ Apr NA NA NA NA NA NA NA May 2.15 26.40 7.68 26.00 34.10 0.24 1.89

South Korea Apr NA NA NA NA NA NA NA May 1.47 0.08 8.20 6.20 8.30 0.00 1.45

Selected Other

Canada Apr NA NA NA NA NA NA NA May 1.43 13.80 0.50 7.10 12.80 1.00 1.93

China Apr NA NA NA NA NA NA NA May 63.29 212.00 7.00 156.00 224.00 0.05 58.24

FSU-12 Apr NA NA NA NA NA NA NA May 1.54 39.76 0.29 16.62 19.49 19.34 2.77

Ukraine Apr NA NA NA NA NA NA NA May 0.82 26.00 0.05 7.00 8.60 16.50 1.77

1/ Aggregate of local marketing years. 2/ Total foreign a nd world use adjusted to reflect the differences in world imports and exports. 3/ World imports and exports may not ba lance due to differences in marketing years, grain in transit, and reporting discrepancies in some countries. 4/ Argentina, Brazil, and South Africa. 5/ Egypt, the EU-27, Mexico, Japan, South Korea, Taiwan, and Southeast Asia. 6/ Trade excludes intra-trad e. 7/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam.

### May 2013

WASDE - 518 - 24

World Rice Supply and Use (Milled Basis) 1/

(Million Metric Tons)



### 2011/12 Beginning

Stocks Production Imports Total /2

Domestic Exports Ending

Stocks

World 3/ 98.73 465.81 35.76 459.48 39.12 105.06

United States 1.51 5.87 0.62 3.47 3.22 1.30 Total Foreign 97.21 459.94 35.14 456.01 35.89 103.76 Major Exporters 4/ 31.56 159.12 0.75 125.93 28.49 37.01

India 23.50 105.31 0.00 93.33 10.38 25.10

Pakistan 0.50 6.20 0.05 2.55 3.46 0.75

Thailand 5.62 20.46 0.60 10.40 6.95 9.33

Vietnam 1.94 27.15 0.10 19.65 7.72 1.83 Major Importers 5/ 12.23 62.19 14.33 76.63 1.21 10.91

Brazil 0.80 7.89 0.73 7.93 0.95 0.54

EU-27 6/ 1.18 2.11 1.30 3.14 0.21 1.23

Indonesia 6.18 36.50 1.96 39.55 0.00 5.09 Nigeria 0.44 2.88 3.20 5.40 0.00 1.12 Philippines 2.46 10.70 1.20 12.85 0.00 1.51

Sel. Mideast 7/ 1.13 1.67 4.13 5.83 0.02 1.08

Selected Other 0.00

Burma 0.51 10.82 0.00 10.20 0.69 0.43

C. Amer & Carib 8/ 0.38 1.70 1.53 3.14 0.00 0.47

China 42.57 140.70 1.79 139.60 0.44 45.02 Egypt 0.12 4.25 0.34 3.62 0.60 0.49 Japan 2.71 7.65 0.64 8.05 0.20 2.75

Mexico 0.22 0.11 0.65 0.83 0.00 0.15

South Korea 1.03 4.22 0.38 4.91 0.00 0.73



### 2012/13 Est.

Beginning

Stocks Production Imports Total /2

Domestic Exports Ending

Stocks

World 3/ 105.06 470.22 35.72 469.85 38.64 105.43

United States 1.30 6.33 0.68 3.81 3.43 1.08 Total Foreign 103.76 463.89 35.04 466.04 35.21 104.35 Major Exporters 4/ 37.01 157.85 0.74 129.39 27.60 38.61

India 25.10 104.00 0.00 96.10 9.00 24.00

Pakistan 0.75 6.00 0.04 2.69 3.20 0.90

Thailand 9.33 20.20 0.60 10.50 8.00 11.63

Vietnam 1.83 27.65 0.10 20.10 7.40 2.08 Major Importers 5/ 10.91 63.65 13.55 77.77 1.05 9.29

Brazil 0.54 8.16 0.70 7.90 0.80 0.70

EU-27 6/ 1.23 2.10 1.20 3.14 0.20 1.19

Indonesia 5.09 37.50 1.50 40.00 0.00 4.09 Nigeria 1.12 2.37 2.90 5.70 0.00 0.69 Philippines 1.51 11.35 1.50 12.93 0.00 1.43

Sel. Mideast 7/ 1.08 1.67 4.18 5.98 0.02 0.93

Selected Other 0.00

Burma 0.43 10.67 0.00 10.20 0.75 0.15

C. Amer & Carib 8/ 0.47 1.58 1.47 3.08 0.00 0.43

China 45.02 143.00 2.90 144.00 0.30 46.62 Egypt 0.49 4.68 0.05 3.90 0.85 0.46 Japan 2.75 7.76 0.70 8.25 0.20 2.75

Mexico 0.15 0.13 0.73 0.84 0.00 0.17

South Korea 0.73 4.01 0.60 4.61 0.00 0.72

1/ Aggregate of local marketing years. 2/ Total foreign and wo rld use adjusted to reflect the differences in world imports and exports. Total

domestic includes both domestic use and unreported disappearance. 3/ World impor ts and exports may not balance due to differen ces in some countries. 4/ India, Pakistan, Thailand, and Vietnam. 5/ Brazil, Indonesia, Hong Kong, Cote d'Ivoire, Nigeria, Philipp ines, selected Middle East, and the EU-27. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ C entral

American and Caribbean countries.

### May 2013

WASDE - 518 - 25

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

(Million Metric Tons)



### 2013/14 Proj. Beginning

Stocks Production Imports Total /2

Domestic Exports Ending

Stocks

World 3/ Apr NA NA NA NA NA NA May 105.43 479.26 36.31 476.84 38.91 107.84

United States Apr NA NA NA NA NA NA

filler filler filler filler filler filler May 1.08 6.04 0.71 3.66 3.12 1.05 Total Foreign Apr NA NA NA NA NA NA

filler filler filler filler filler filler May 104.35 473.22 35.59 473.19 35.79 106.79 Major Exporters 4/ Apr NA NA NA NA NA NA May 38.61 163.15 0.70 132.40 27.90 42.16

India Apr NA NA NA NA NA NA May 24.00 108.00 0.00 98.50 8.50 25.00

filler filler filler filler filler filler Pakistan Apr NA NA NA NA NA NA May 0.90 6.20 0.00 2.70 3.20 1.20

Thailand Apr NA NA NA NA NA NA May 11.63 21.10 0.60 10.60 8.50 14.23

Vietnam Apr NA NA NA NA NA NA May 2.08 27.85 0.10 20.60 7.70 1.73 Major Importers 5/ Apr NA NA NA NA NA NA May 9.29 65.47 13.17 78.30 1.45 8.19

Brazil Apr NA NA NA NA NA NA

filler filler filler filler filler filler May 0.70 8.50 0.75 7.80 1.20 0.95

EU-27 6/ Apr NA NA NA NA NA NA May 1.19 2.11 1.20 3.15 0.20 1.15

Indonesia Apr NA NA NA NA NA NA May 4.09 37.70 1.50 40.30 0.00 2.99 Nigeria Apr NA NA NA NA NA NA May 0.69 3.10 2.90 5.90 0.00 0.79 Philippines Apr NA NA NA NA NA NA May 1.43 11.70 1.20 12.93 0.00 1.41

Sel. Mideast 7/ Apr NA NA NA NA NA NA May 0.93 1.76 4.10 6.00 0.02 0.77

Selected Other

Burma Apr NA NA NA NA NA NA May 0.15 11.00 0.00 10.25 0.75 0.15

C. Amer & Carib 8/ Apr NA NA NA NA NA NA May 0.43 1.69 1.53 3.19 0.00 0.46

China Apr NA NA NA NA NA NA May 46.62 144.00 3.00 147.00 0.20 46.42 Egypt Apr NA NA NA NA NA NA May 0.46 4.85 0.03 4.00 0.85 0.49 Japan Apr NA NA NA NA NA NA May 2.75 7.72 0.70 8.15 0.20 2.82

Mexico Apr NA NA NA NA NA NA May 0.17 0.13 0.73 0.85 0.00 0.17

South Korea Apr NA NA NA NA NA NA May 0.72 4.22 0.41 4.50 0.00 0.85

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-27. 6/ Tr ade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries.

### May 2013

WASDE - 518 - 26

World Cotton Supply and Use 1/
(Million 480-Pound Bales)



### 2011/12 Beginning

Stocks Production Imports Domestic

Use Exports Loss

/2 Ending

Stocks

World 49.44 125.14 45.07 103.31 45.87 -0.75 71.22

United States 2.60 15.57 0.02 3.30 11.71 -0.17 3.35 Total Foreign 46.84 109.57 45.05 100.01 34.15 -0.57 67.87 Major Exporters 4/ 26.93 55.46 1.14 28.75 28.66 -0.76 26.88

Central Asia 5/ 2.63 6.81 0.04 2.12 4.21 0.03 3.13

Afr. Fr. Zone 6/ 0.56 3.21 3 / 0.19 2.44 0.00 1.14

S. Hemis 7/ 12.25 16.29 0.20 5.32 10.51 -0.30 13.22

Australia 2.58 5.50 3 / 0.04 4.64 -0.18 3.57

Brazil 7.91 8.70 0.03 4.00 4.79 -0.15 7.99

India 11.17 27.50 0.60 19.75 11.08 -0.50 8.94 Major Importers 8/ 18.17 50.95 41.04 67.52 3.36 0.19 39.11

Mexico 0.60 1.18 1.00 1.70 0.34 0.03 0.71

China 10.60 34.00 24.53 38.00 0.06 0.00 31.08

EU-27 9/ 0.56 1.59 0.84 0.86 1.39 0.05 0.69 Turkey 1.32 3.44 2.38 5.60 0.30 0.00 1.24

Pakistan 2.52 10.60 0.90 10.00 1.16 0.03 2.84

Indonesia 0.44 0.03 2.30 2.23 0.02 0.05 0.48

Thailand 0.32 3 / 1.26 1.30 0.00 0.03 0.26 Bangladesh 0.84 0.09 3.20 3.30 0.00 0.01 0.82

Vietnam 0.34 0.02 1.63 1.65 0.00 0.00 0.34



### 2012/13 Est.

Beginning

Stocks Production Imports Domestic

Use Exports Loss

/2 Ending

Stocks

World 71.22 120.95 45.21 108.15 45.01 -0.56 84.78

United States 3.35 17.32 0.01 3.40 13.25 0.02 4.00 Total Foreign 67.87 103.63 45.21 104.75 31.76 -0.58 80.78 Major Exporters 4/ 26.88 51.27 2.56 32.00 27.10 -0.77 22.37

Central Asia 5/ 3.13 7.27 0.03 2.33 5.25 0.03 2.81

Afr. Fr. Zone 6/ 1.14 4.33 3 / 0.19 3.75 0.00 1.54

S. Hemis 7/ 13.22 11.95 0.33 5.38 10.73 -0.30 9.70

Australia 3.57 4.30 3 / 0.04 5.20 -0.18 2.81

Brazil 7.99 5.80 0.13 4.10 4.50 -0.15 5.47

India 8.94 26.50 1.70 22.75 7.00 -0.50 7.89 Major Importers 8/ 39.11 49.65 39.63 68.96 2.61 0.19 56.63

Mexico 0.71 1.09 1.00 1.80 0.25 0.03 0.73

China 31.08 35.00 18.25 36.00 0.08 0.00 48.26

EU-27 9/ 0.69 1.50 0.86 0.85 1.57 0.05 0.58 Turkey 1.24 2.60 3.70 6.00 0.19 0.00 1.36

Pakistan 2.84 9.30 2.75 11.50 0.40 0.03 2.96

Indonesia 0.48 0.03 2.40 2.35 0.02 0.05 0.49

Thailand 0.26 3 / 1.55 1.50 0.00 0.03 0.29 Bangladesh 0.82 0.11 3.60 3.70 0.00 0.01 0.82

Vietnam 0.34 0.02 2.30 2.20 0.00 0.00 0.46

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 marke ting channel; for Australia, Brazil, China, and the United States, reflects the difference between implicit stocks base d on supply less total use and indicated endi ng stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kaza khstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkino Faso, Cameroon, Central African Re public, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Austra lia, Brazil, Paraguay, South Africa, Tanzan ia, and Zimbabwe. 8/ In addition to the countries and regions listed, includes H ong Kong, Japan, Russia, South Korea, a nd Taiwan. 9/ Includes intra-EU trade.

### May 2013

WASDE - 518 - 27

World Cotton Supply and Use 1/

(Million 480-Pound Bales)



### 2013/14 Proj. Beginning

Stocks Production Imports Domestic

Use Exports Loss

/2 Ending

Stocks

World Apr NA NA NA NA NA NA NA May 84.78 117.82 39.50 110.43 39.50 -0.58 92.74

United States Apr NA NA NA NA NA NA NA May 4.00 14.00 0.01 3.50 11.50 0.01 3.00 Total Foreign Apr NA NA NA NA NA NA NA May 80.78 103.82 39.50 106.93 28.00 -0.59 89.74

filler filler filler filler filler filler filler Major Exporters 4/ Apr NA NA NA NA NA NA NA May 22.37 53.13 1.93 32.83 23.94 -0.78 21.43

Central Asia 5/ Apr NA NA NA NA NA NA NA May 2.81 7.26 0.02 2.42 5.26 0.03 2.39

Afr. Fr. Zone 6/ Apr NA NA NA NA NA NA NA May 1.54 4.26 3 / 0.19 4.25 0.00 1.36

S. Hemis 7/ Apr NA NA NA NA NA NA NA May 9.70 13.48 0.29 5.48 8.46 -0.31 9.84

Australia Apr NA NA NA NA NA NA NA May 2.81 4.50 3 / 0.04 4.70 -0.18 2.74

Brazil Apr NA NA NA NA NA NA NA May 5.47 7.00 0.08 4.20 2.80 -0.15 5.69

India Apr NA NA NA NA NA NA NA May 7.89 27.00 1.00 23.50 5.50 -0.50 7.39

filler filler filler filler filler filler filler Major Importers 8/ Apr NA NA NA NA NA NA NA May 56.63 47.99 34.58 70.30 2.15 0.19 66.56

Mexico Apr NA NA NA NA NA NA NA May 0.73 0.85 1.20 1.90 0.20 0.03 0.65

China Apr NA NA NA NA NA NA NA May 48.26 34.00 12.00 36.00 0.08 0.00 58.18

EU-27 9/ Apr NA NA NA NA NA NA NA May 0.58 1.22 0.84 0.84 1.29 0.05 0.46 Turkey Apr NA NA NA NA NA NA NA May 1.36 2.25 4.00 6.10 0.18 0.00 1.33

Pakistan Apr NA NA NA NA NA NA NA May 2.96 9.50 3.10 12.00 0.30 0.03 3.24

Indonesia Apr NA NA NA NA NA NA NA May 0.49 0.03 2.45 2.45 0.00 0.05 0.47

Thailand Apr NA NA NA NA NA NA NA May 0.29 3 / 1.63 1.60 0.00 0.03 0.29 Bangladesh Apr NA NA NA NA NA NA NA May 0.82 0.12 3.75 3.90 0.00 0.01 0.78

Vietnam Apr NA NA NA NA NA NA NA May 0.46 0.02 2.35 2.35 0.00 0.00 0.48

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 ch annel; for Australia, Brazil, China, and the United States, refl ects the difference between implicit stocks based on supply less total use a nd indicated ending stocks. 3/ Less than 5,000 bales. 4/ I ncludes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenist an, 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, Tanzania, and Zimbabwe. 8/ In addition to the countries and regions liste d, includes Hong Kong, Japan, Russia, South Kor ea, and Taiwan. 9/ Includes intra-EU trade.May 2013

WASDE - 518 - 28

World Soybean Supply and Use 1/
(Million Metric Tons)



### 2011/12 Beginning

Stocks Production Imports Domestic

Crush Domestic

Total Exports Ending

Stocks

World 2/ 70.12 239.46 93.22 226.78 256.16 91.94 54.71

United States 5.85 84.19 0.44 46.35 48.81 37.06 4.61 Total Foreign 64.27 155.27 92.78 180.44 207.35 54.87 50.10 Major Exporters 3/ 45.76 113.68 0.15 73.80 78.70 49.78 31.10 Argentina 22.87 40.10 0.00 35.89 37.50 7.37 18.10

Brazil 22.69 66.50 0.13 36.94 40.04 36.32 12.97 Paraguay 0.17 4.35 0.02 0.95 1.08 3.45 0.01 Major Importers 4/ 15.77 16.89 83.27 82.16 98.80 0.35 16.79

China 14.56 14.48 59.23 60.97 72.07 0.28 15.92

EU-27 0.55 1.07 11.96 12.15 13.10 0.04 0.44 Japan 0.16 0.22 2.76 1.96 3.01 0.00 0.13

Mexico 0.05 0.21 3.61 3.78 3.81 0.00 0.05



### 2012/13 Est.

Beginnin g
Stock s Productio n Import s Domesti c
Crus h Domesti c
Tota l Export s Endin g
Stock s

World 2/ 54.71 269.11 93.59 229.29 258.74 96.21 62.46

United States 4.61 82.06 0.54 44.50 47.08 36.74 3.39 Total Foreign 50.10 187.05 93.04 184.79 211.66 59.47 59.06 Major Exporters 3/ 31.10 145.85 0.26 73.78 78.76 53.35 45.11 Argentina 18.10 51.00 0.00 35.20 36.85 9.10 23.15

Brazil 12.97 83.50 0.24 35.55 38.70 36.35 21.65 Paraguay 0.01 8.35 0.02 3.00 3.13 5.00 0.25 Major Importers 4/ 16.79 14.92 83.29 85.69 102.35 0.39 12.25

China 15.92 12.60 59.00 64.65 75.83 0.30 11.39

EU-27 0.44 0.86 12.00 11.95 12.82 0.06 0.42 Japan 0.13 0.22 2.75 1.89 2.94 0.00 0.16

Mexico 0.05 0.25 3.55 3.78 3.81 0.00 0.04



### 2013/14 Proj. Beginnin g
Stock s Productio n Import s Domesti c
Crus h Domesti c
Tota l Export s Endin g
Stock s

World 2/ Apr NA NA NA NA NA NA NA May 62.46 285.50 104.29 239.21 270.18 107.12 74.96

United States Apr NA NA NA NA NA NA NA May 3.39 92.26 0.41 46.13 49.38 39.46 7.22 Total Foreign Apr NA NA NA NA NA NA NA May 59.06 193.24 103.88 193.08 220.80 67.66 67.74 Major Exporters 3/ Apr NA NA NA NA NA NA NA May 45.11 151.02 0.07 78.33 83.49 61.54 51.17 Argentina Apr NA NA NA NA NA NA NA May 23.15 54.50 0.00 38.00 39.68 12.00 25.97

Brazil Apr NA NA NA NA NA NA NA May 21.65 85.00 0.05 37.00 40.30 41.50 24.90 Paraguay Apr NA NA NA NA NA NA NA May 0.25 8.40 0.02 3.30 3.43 5.00 0.24 Major Importers 4/ Apr NA NA NA NA NA NA NA May 12.25 14.50 93.62 88.66 105.68 0.38 14.31

China Apr NA NA NA NA NA NA NA May 11.39 12.00 69.00 67.35 78.63 0.30 13.46

EU-27 Apr NA NA NA NA NA NA NA May 0.42 1.00 12.10 12.10 13.02 0.05 0.45 Japan Apr NA NA NA NA NA NA NA May 0.16 0.21 2.76 1.95 3.00 0.00 0.13

Mexico Apr NA NA NA NA NA NA NA May 0.04 0.28 3.55 3.80 3.84 0.00 0.04

1/ Data based on local marketing years except Argentina and Brazil which are adjusted to an Octobe r-September year. 2/ World i mports and exports may not balance due to differences in local marketing years and to time lags be tween reported exports and imports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil, Paraguay, and Uruguay. 4/ China, EU-27, Japan, Mexico, and Southeast Asia (includes Indonesia, Malaysia, Philippines, Vietnam, and Thailand).

### May 2013

WASDE - 518 - 29

World Soybean Meal Supply and Use 1/

(Million Metric Tons)



### 2011/12 Beginning

Stocks Production Imports Domestic

Total Exports Ending

Stocks

World 2/ 8.79 179.36 57.23 177.35 58.33 9.70

United States 0.32 37.22 0.20 28.62 8.84 0.27 Total Foreign 8.47 142.14 57.03 148.73 49.49 9.43 Major Exporters 3/ 5.51 64.26 0.04 18.25 45.11 6.44 Argentina 2.48 27.95 0.00 0.92 26.04 3.47

Brazil 2.89 28.63 0.03 14.00 14.68 2.87

India 0.14 7.68 0.01 3.33 4.39 0.11 Major Importers 4/ 1.59 13.65 34.64 47.52 0.95 1.42

EU-27 0.51 9.57 20.79 29.71 0.88 0.28

Southeast Asia 5/ 0.79 2.60 11.57 13.97 0.06 0.93



### 2012/13 Est.

Beginnin g
Stock s Productio n Import s Domesti c
Tota l Export s Endin g
S tocks

World 2/ 9.70 180.99 56.85 179.34 58.87 9.33

United States 0.27 35.34 0.32 26.67 8.98 0.27 Total Foreign 9.43 145.66 56.53 152.66 49.89 9.06 Major Exporters 3/ 6.44 62.92 0.03 19.27 43.82 6.31 Argentina 3.47 27.45 0.00 1.09 26.02 3.81

Brazil 2.87 27.55 0.03 14.48 13.55 2.42

India 0.11 7.92 0.01 3.70 4.25 0.08 Major Importers 4/ 1.42 13.54 34.23 46.93 0.76 1.49

EU-27 0.28 9.42 20.00 28.81 0.70 0.19

Southeast Asia 5/ 0.93 2.69 12.00 14.40 0.06 1.15



### 2013/14 Proj. Beginnin g
Stock s Productio n Import s Domesti c
Tota l Export s Endin g
Stock s

World 2/ Apr NA NA NA NA NA NA May 9.33 188.72 59.14 185.78 61.56 9.85

United States Apr NA NA NA NA NA NA May 0.27 36.50 0.15 27.40 9.25 0.27 Total Foreign Apr NA NA NA NA NA NA May 9.06 152.22 58.99 158.38 52.30 9.58 Major Exporters 3/ Apr NA NA NA NA NA NA May 6.31 66.33 0.03 19.87 46.20 6.60 Argentina Apr NA NA NA NA NA NA May 3.81 29.63 0.00 1.15 28.65 3.64

Brazil Apr NA NA NA NA NA NA May 2.42 28.70 0.03 14.65 13.60 2.89

India Apr NA NA NA NA NA NA May 0.08 8.00 0.01 4.07 3.95 0.07 Major Importers 4/ Apr NA NA NA NA NA NA May 1.49 13.73 35.68 48.30 0.77 1.82

EU-27 Apr NA NA NA NA NA NA May 0.19 9.54 20.80 29.39 0.70 0.43

Southeast Asia 5/ Apr NA NA NA NA NA NA May 1.15 2.72 12.55 15.11 0.07 1.24

1/ Data based on local marketing years except for Argentina and Br azil which are adjusted to an October-September year. 2/ Wor ld 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/ Ar gentina, Brazil, and India. 4/ EU-27, Southeast Asia, and Jap an. 5/ Indonesia, Malaysia, Philippi nes, Vietnam, and Thailand.May 2013

WASDE - 518 - 30

World Soybean Oil Supply and Use 1/ (Million Metric Tons)



### 2011/12 Beginning

Stocks Production Imports Domestic

Total Exports Ending

Stocks

World 2/ 3.70 42.35 8.06 41.74 8.47 3.89

United States 1.10 8.95 0.07 8.31 0.66 1.15 Total Foreign 2.60 33.40 7.99 33.44 7.81 2.73 Major Exporters 3/ 0.96 16.15 0.36 10.21 6.42 0.85 Argentina 0.30 6.84 0.00 3.02 3.79 0.33

Brazil 0.40 7.09 0.00 5.21 1.89 0.40

EU-27 0.27 2.22 0.36 1.98 0.75 0.12 Major Importers 4/ 0.76 13.01 3.64 16.13 0.20 1.09

China 0.20 10.91 1.50 11.94 0.06 0.62

India 0.24 1.71 1.17 2.75 0.01 0.36

North Africa 5/ 0.32 0.39 0.97 1.43 0.13 0.12



### 2012/13 Est.

Beginnin g
Stock s Productio n Import s Domesti c
Tota l Export s Endin g
Stock s

World 2/ 3.89 42.92 8.47 43.04 8.82 3.41

United States 1.15 8.75 0.16 8.32 1.00 0.74 Total Foreign 2.73 34.17 8.31 34.72 7.82 2.67 Major Exporters 3/ 0.85 15.71 0.32 10.22 6.00 0.67 Argentina 0.33 6.71 0.00 3.03 3.75 0.26

Brazil 0.40 6.82 0.00 5.41 1.50 0.31

EU-27 0.12 2.18 0.32 1.78 0.75 0.10 Major Importers 4/ 1.09 13.74 3.95 17.28 0.19 1.31

China 0.62 11.57 1.50 12.69 0.06 0.94

India 0.36 1.77 1.15 3.00 0.00 0.28

North Africa 5/ 0.12 0.40 1.30 1.59 0.13 0.10



### 2013/14 Proj. Beginnin g
Stock s Productio n Import s Domesti c
Tota l Export s Endin g
Stock s

World 2/ Apr NA NA NA NA NA NA May 3.41 44.58 8.71 44.33 9.11 3.25

United States Apr NA NA NA NA NA NA May 0.74 8.84 0.11 8.41 0.59 0.69 Total Foreign Apr NA NA NA NA NA NA May 2.67 35.73 8.59 35.92 8.52 2.56 Major Exporters 3/ Apr NA NA NA NA NA NA May 0.67 16.56 0.30 10.37 6.59 0.57 Argentina Apr NA NA NA NA NA NA May 0.26 7.25 0.00 3.08 4.22 0.21

Brazil Apr NA NA NA NA NA NA May 0.31 7.10 0.00 5.51 1.67 0.23

EU-27 Apr NA NA NA NA NA NA May 0.10 2.21 0.30 1.78 0.70 0.13 Major Importers 4/ Apr NA NA NA NA NA NA May 1.31 14.25 4.18 18.24 0.19 1.31

China Apr NA NA NA NA NA NA May 0.94 12.07 1.60 13.53 0.06 1.01

India Apr NA NA NA NA NA NA May 0.28 1.78 1.25 3.10 0.00 0.20

North Africa 5/ Apr NA NA NA NA NA NA May 0.10 0.41 1.33 1.61 0.13 0.09

1/ Data based on local marketing years except for Argentina and Br azil which are adjusted to an October-September year. 2/ Wor ld imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and i mports. Therefore, world supply may not equal world use. 3/ Argentina, Brazil and EU-27. 4/ China, India, and North Africa. 5/ Alge ria, Egypt, Morocco, and Tunisia.

### May 2013

WASDE - 518 - 31

U.S. Quarterly Animal Product Production 1/

Year and Quarter Bee f Pork Red Mea t

2 / Broiler Turkey Total Poultry 3 / Red Meat & Poultry Egg Milk 4 /

Million Pounds Mil doz Bil lbs

2012 II 6,473 5,519 12,061 9,381 1, 505 11,024 23,085 1,915 51.5

III 6,586 5,631 12,284 9,372 1, 480 10,990 23,274 1,933 48.7

IV 6,572 6,244 12,886 9,197 1, 537 10,852 23,738 1,989 49.1

Annual 25,913 23,253 49,439 37,039 5, 967 43,523 92,962 7,753 200.3

2013 I 6,172 5,777 12,016 9,143 1, 459 10,726 22,742 1,939 50.5

II* 6,430 5,575 12,071 9,500 1, 475 11,110 23,181 1,950 51.8

III* 6,390 5,690 12,147 9,600 1, 475 11,210 23,357 1,960 49.8

IV* 6,115 6,440 12,624 9,500 1, 550 11,170 23,794 2,015 49.7

Annual

Apr Proj. 24,880 23,505 48,654 37,910 6, 110 44,535 93,189 7,855 201.8

May Proj. 25,107 23,482 48,858 37,743 5, 959 44,216 93,074 7,864 201.8

2014 I* 5,795 5,880 11,740 9,450 1, 475 11,050 22,790 1,970 51.2

Annual

Apr Proj. NA NA NA NA NA NA NA NA NA

May Proj. 24,105 24,025 48,389 38,850 6, 175 45,560 93,949 8,015 204.6

* Projection. 1/ Commercial production for re d meats; federally inspected for poultry m eats. 2/ Beef, pork, veal and lamb & mu tton. 3/ Broilers, turkeys and mature chicken. 4/ Milk production forecas ts reflect changes in available data published by the National Agricultural Statistics Service in its monthly Milk Production report beginning April 2013.



### U.S. Quarterly Prices for Animal Products

Year and Quarter Steers

2 / Barrows and gilts

3 / Broilers

4 / Turkeys

5 / Eggs

6 / Milk

7 /

Dol./cw t Dol./cw t Cents/lb. Cents/lb. Cents/doz. Dol./cw t

2012 II 120.91 61.79 85.1 106.9 99.7 16.43

III 119.69 61.43 82.0 108.5 131.9 18.27

IV 125.54 58.63 92.1 106.1 129.4 21.50

Annual 122.86 60.88 86.6 105.6 117.4 18.53

2013 I 125.52 59.03 103.5 96.0 126.9 19.50

II* 125-129 59-61 105-109 98-100 108-112 19.25-19.55

III* 126-134 60-64 97-103 100-106 105-111 19.60-20.20

IV* 127-137 52-56 93-101 101-109 118-128 19.70-20.60

Annual

Apr Proj. 125-132 58-60 98-103 99-103 114-120 19.45-19.95

May Proj. 126-131 58-60 100-104 99-103 114-120 19.50-20.00

2014 I* 127-137 56-60 87-95 90-98 110-120 18.40-19.40

Annual

Apr Proj. NA NA NA NA NA NA

May Proj. 128-138 56-60 88-96 95-102 107-116 18.85-19.85

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

### May 2013

WASDE - 518 - 32

U.S. Meats Supply and Use

Item Beginning

stocks Production

1 / Imports Total Supply Exports Ending

Stocks Total

Use Per Capita

2/ 3 /

Million Pounds /4

Beef 2012 600 25,996 2,219 28,815 2,455 608 25,752 57.4

2013 Proj. Apr 608 24,976 2,565 28,149 2,425 550 25,174 55.7
May 608 25,190 2,555 28,353 2,412 550 25,391 56.1 2014 Proj. Apr NA NA NA NA NA NA NA NA
May 550 24,188 2,800 27,538 2,300 525 24,713 54.3

Filler Filler Filler Filler Filler Filler Filler Filler

Pork 2012 542 23,270 801 24,613 5,384 625 18,604 45.9

2013 Proj. Apr 625 23,522 800 24,947 5,205 650 19,092 46.8
May 625 23,499 797 24,921 5,028 650 19,243 47.2 2014 Proj. Apr NA NA NA NA NA NA NA NA
May 650 24,042 800 25,492 5,255 675 19,562 47.6

Filler Filler Filler Filler Filler Filler Filler Filler

Total Red

Meat 5/ 2012 1,162 49,552 3,173 53,887 7,850 1,259 44,779 104.5

2013 Proj. Apr 1,259 48,781 3,518 53,558 7,647 1,223 44,688 103.6
May 1,259 48,971 3,514 53,744 7,454 1,222 45,068 104.5 2014 Proj. Apr NA NA NA NA NA NA NA NA
May 1,222 48,502 3,751 53,475 7,571 1,221 44,683 103.0

Filler Filler Filler Filler Filler Filler Filler Filler

Broiler 2012 590 36,643 112 37,345 7,281 651 29,413 80.4

2013 Proj. Apr 651 37,504 112 38,267 7,200 635 30,432 82.6
May 651 37,339 114 38,104 7,259 635 30,210 82.0 2014 Proj. Apr NA NA NA NA NA NA NA NA
May 635 38,434 112 39,181 7,550 640 30,991 83.5

Filler Filler Filler Filler Filler Filler Filler Filler

Turkey 2012 211 5,889 23 6,123 800 296 5,027 16.0

2013 Proj. Apr 296 6,030 20 6,346 800 300 5,246 16.6
May 296 5,881 21 6,198 783 300 5,115 16.2 2014 Proj. Apr NA NA NA NA NA NA NA NA
May 300 6,175 20 6,495 840 310 5,345 16.8

Filler Filler Filler Filler Filler Filler Filler Filler

Total Poultry 6/ 2012 803 43,049 137 43,989 8,171 948 34,870 97.8

2013 Proj. Apr 948 44,049 134 45,131 8,090 937 36,104 100.5
May 948 43,734 136 44,818 8,134 937 35,747 99.5 2014 Proj. Apr NA NA NA NA NA NA NA NA
May 937 45,144 134 46,215 8,500 952 36,763 101.6

Filler Filler Filler Filler Filler Filler Filler Filler

Red Meat & Poultry 2012 1,965 92,601 3,310 97,876 16,021 2,207 79,649 202.2

2013 Proj. Apr 2,207 92,829 3,652 98,688 15,737 2,160 80,791 204.1
May 2,207 92,704 3,650 98,561 15,588 2,159 80,814 204.0 2014 Proj. Apr NA NA NA NA NA NA NA NA
May 2,159 93,646 3,885 99,690 16,071 2,173 81,446 204.6

1/ Total including farm production for red meats and, for pou ltry, federally inspected plus non-federally inspected, less condemnations. 2/ Pounds, retail-weight basis. 3/ Population sour ce: Dept. of Commerce, Census Bureau. 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.

### May 2013

WASDE - 518 - 33

U.S. Egg Supply and Use

Commodity 2011 2012 2013 Proj. 2013 Proj. 2014 Proj. 2014 Proj.

Apr May Apr May

Eggs Million Dozen
Supply Beginning Stocks 19.3 27.7 20.8 20.8 NA 20.0

Production 7,658.0 7,753.0 7,855.0 7,864.0 NA 8,015.0 Imports 20.9 18.4 16.0 16.1 NA 16.0 Total Supply 7,698.2 7,799.1 7,891.8 7,900.9 NA 8,051.0

Use Exports 276.4 301.6 271.0 273.2 NA 287.0 Hatching Use 951.8 936.6 975.0 960.5 NA 990.0 Ending Stocks 27.7 20.8 22.0 20.0 NA 21.0 Disappearance

Total 6,442.3 6,540.1 6,623.8 6,647.2 NA 6,753.0 Per Capita (number) 247.8 249.7 251.1 252.0 NA 254.1

Total



### U.S. Milk Supply and Use

Commodity 2011 2012 2013 Proj. 2013 Proj. 2014 Proj. 2014 Proj.

Apr May Apr May

Milk Billion Pounds

Production 1/ 196.2 200.3 201.8 201.8 NA 204.6

Farm Use 1.0 1.0 1.0 1.0 NA 1.0

Fat Basis Supply

Beg. Commercial Stocks 10.8 10.9 12.2 12.2 NA 12.0 Marketings 195.2 199.4 200.8 200.8 NA 203.7 Imports 3.5 4.1 3.9 4.0 NA 3.9 Total Cml. Supply 209.5 214.3 216.9 217.0 NA 219.6

Fat Basis Use

Commercial Exports 9.4 8.8 9.4 10.0 NA 10.3 Ending Commercial Stks 10.9 12.2 11.4 12.0 NA 11.8

CCC Net Removals 2/ 0.0 0.0 0.0 0.0 NA 0.0

Commercial Use 3/ 189.2 193.3 196.1 195.0 NA 197.4

Skim-solid Basis Supply

Beg. Commercial Stocks 12.2 11.8 12.3 12.4 NA 12.1 Marketings 195.2 199.4 200.8 200.8 NA 203.7 Imports 5.3 5.7 5.3 5.6 NA 5.4 Total Cml. Supply 212.6 216.9 218.4 218.8 NA 221.1

Skim-solid Basis Use

Commercial Exports 32.5 33.3 34.4 34.7 NA 36.4 Ending Commercial Stks 11.8 12.4 11.5 12.1 NA 12.1

CCC Net Removals 2/ 0.0 0.0 0.0 0.0 NA 0.0

Commercial Use 3/ 168.2 171.2 172.5 172.0 NA 172.6

Filler Million Pounds

CCC product net removals 2/

Butter 0 0 0 0 NA 0

Cheese 0 0 0 0 NA 0 Nonfat Dry Milk 0 0 0 0 NA 0 Dry Whole Milk 0 0 0 0 NA 0

Total

Note: Totals may not add due to rounding. 1/ Milk production forecasts reflect changes in available data published by the

National Agricultural Statistics Service in its monthly Milk Production report beginning April 2013. 2/ Includes products exported under the Dairy Export Incentive Program. 3/ Domestic commercial use only.

### May 2013

WASDE - 518 - 34

U.S. Dairy Prices

Commodity 2011 2012 2013 Proj. 2013 Proj. 2014 Proj. 2014 Proj.

Ap r Ma y Ap r Ma y

Product Prices 1/ Dollars Pe r Pound

Cheese 1.8246 1.7076 1.735-

1.785 1.745-

1.795 NA 1.675-

1.775

Butter 1.9498 1.5943 1.560-

1.640 1.570-

1.650 NA 1.485-

1.615 Nonfat Dry Milk 1.5058 1.3279 1.585-

1.625 1.590-

1.630 NA 1.585-

1.655 Dry Whey 0.5325 0.5935 0.605-

0.635 0.580-

0.610 NA 0.565-

0.595

Filler Dollars Pe r Cwt

Milk Prices 2/

Class III 18.37 17.44 17.85-

18.35 17.80-

18.30 NA 17.00-

18.00

Class IV 19.04 16.01 18.10-

18.70 18.20-

18.80 NA 17.80-

18.90

All Milk 3/ 20.14 18.53 19.45-

19.95 19.50-

20.00 NA 18.85-

19.85

1/ Simple average of monthly prices calculated by AMS from w eekly 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 deduc tions from producers as authorized by legislation.May 2013

WASDE - 518 - 35

Note: Tables on pages 35-37 present a record of the May projecti on and the final Estimate. Using world wheat production as an e xample, 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 mor e than 3.2 percent. Chances are 9 out of 10 (90% confidence level) that the difference will not exceed 5.5 percent. The av erage difference between the May projection and the final estimate is 16.0 million tons, ranging from 1.7 million to 35 milli on tons. The May projection has been below the estimate 18 t imes and above 14 times.

Reliability of May Projections 1/

Differences between forecast and final estimate

90 percent Years
Commodity and Region Root mean

square error confidence interval Average Smalles t Largest Below

Final Above

Final

WHEAT Percent Million Metric Tons

Production

Worl d 3.2 5.5 16.0 1.7 35.0 18 14

U.S. 6.8 11.5 3.1 0.0 9.8 16 16

Forei g n 3.4 5.8 14.8 1.6 32.9 17 15 Exports

Worl d 5.9 9.9 5.3 0.1 16.4 21 11

U.S. 12.2 20.7 3.0 0.0 10.2 18 13

Forei g n 6.9 11.7 4.9 0.4 17.8 22 10

Domestic Use

Worl d 2.2 3.7 9.5 0.3 28.0 20 12

U.S. 7.7 13.0 1.9 0.2 6.4 17 15

Forei g n 2.1 3.6 8.8 0.2 24.7 21 11 Ending Stocks

Worl d 10.7 18.1 12.5 0.4 34.1 19 13

U.S. 21.6 36.7 3.6 0.1 14.1 17 15

Forei g n 10.8 18.4 10.6 2.5 28.3 18 14

COARSE GRAINS 2/

Production

Worl d 4.0 6.7 27.5 1.1 103.6 14 18

U.S. 15.3 25.9 22.5 0.9 103.8 16 16

Forei g n 2.9 4.9 14.0 0.2 42.8 13 19 Exports

Worl d 7.7 13.0 7.1 1.3 16.9 21 11

U.S. 29.2 49.6 8.3 0.1 29.5 12 20

Forei g n 14.7 25.0 6.6 0.3 20.8 21 11

Domestic Use

Worl d 2.1 3.6 14.9 0.4 68.4 15 17

U.S. 6.5 11.0 8.9 0.2 38.4 19 13

Forei g n 2.1 3.5 11.0 0.5 32.8 15 17 Ending Stocks

Worl d 21.7 36.9 23.7 2.6 71.4 18 14

U.S. 59.6 101.2 18.6 1.3 57.6 14 18

Forei g n 18.1 30.7 11.3 0.0 33.8 20 12 RICE, milled

Production

Worl d 2.5 4.3 7.1 0.0 21.8 20 12

U.S. 7.3 12.3 0.3 0.0 1.0 18 14

Forei g n 2.6 4.4 7.1 0.4 22.0 20 12 Exports

Worl d 10.2 17.3 1.7 0.1 7.5 24 8

U.S. 12.5 21.3 0.3 0.0 1.0 18 11

Forei g n 11.0 18.6 1.5 0.2 7.1 24 8

Domestic Use

Worl d 2.0 3.5 5.2 0.0 19.4 23 9

U.S. 9.8 16.6 0.2 0.0 0.6 11 20

Forei g n 2.1 3.5 5.2 0.2 20.0 24 8 Ending Stocks

Worl d 14.9 25.4 5.1 0.1 17.0 22 10

U.S. 35.0 59.5 0.3 0.0 0.9 18 12

Forei g n 16.4 27.9 5.1 0.1 16.7 22 10

1/ Footnotes at end of table. CONTINUEDMay 2013

WASDE - 518 - 36

Reliability of May Projections (Continued)

Differences between forecast and final estimate

90 percent Years
Commodity and Region Root mean

square error confidence interval Average Smalles t Largest Below

Final Above

Final

SOYBEANS Percent Million Metric Tons

Production

World NA NA 12.9 1.8 23.1 2 2

U.S. 9.2 15.6 4.3 0.0 12.0 15 17 Foreign NA NA 10.5 3.4 16.9 3 1 Exports

World NA NA 7.0 0.6 10.6 3 1

U.S. 16.5 28.0 3.0 0.0 6.8 17 14 Foreign NA NA 3.6 2.1 4.8 3 1

Domestic Use

World NA NA 7.1 4.2 9.5 2 2

U.S. 6.8 11.5 2.2 0.1 7.5 19 13 Foreign NA NA 6.5 3.4 10.0 2 2 Ending Stocks

World NA NA 6.8 4.6 11.1 2 2

U.S. 62.1 105.4 2.9 0.2 8.4 9 23 Foreign NA NA 6.8 1.0 12.2 3 1

COTTON Million 480-Pound Bales

Production

World 6.4 10.8 4.3 0.1 16.7 20 12

U.S. 11.2 19.1 1.6 0.1 5.5 16 16 Foreign 6.5 11.0 3.5 0.3 12.2 19 13 Exports

World 10.9 18.5 2.3 0.1 12.4 17 15

U.S. 32.0 54.3 1.4 0.1 3.8 20 12 Foreign 14.1 23.9 1.7 0.1 10.4 17 15

Domestic Use

World 4.7 8.0 3.2 0.1 17.2 13 19

U.S. 10.1 17.1 0.6 0.0 1.4 16 15 Foreign 4.8 8.1 3.1 0.0 16.5 15 17 Ending Stocks

World 19.2 32.6 6.6 1.0 18.1 22 10

U.S. 46.5 78.9 1.6 0.0 4.3 15 17 Foreign 18.2 30.9 5.5 0.1 17.2 22 10

1/ Marketing years 1981/82 through 2012/13 for grains, soybeans, and cotton. Final for grains, soybeans, and cotton is defined as the first November estimate following the ma rketing year for 1981/82 through 2011/12, and for 2012/13 last month's estimate. 2/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain.May 2013

WASDE - 518 - 37

Reliability of United States May Projections 1/

Differences between forecast and final estimate

90 percent Years

Root mean

square error confidence interval Average Smalles t Largest Below

Final Above

Final

CORN Percent Million Bushels

Production 16.2 27.5 799 8 4,010 13 19 Exports 30.5 51.8 301 0 1,100 13 18

Domestic Use 6.9 11.7 347 15 1,538 20 12 Ending Stocks 71.9 122.0 668 41 2,091 14 18

SORGHUM

Production 21.0 35.7 91 0 228 13 18 Exports 33.6 57.0 43 0 118 14 17

Domestic Use 17.6 29.9 52 0 162 13 18 Ending Stocks 66.7 113.1 54 1 238 12 20

BARLEY

Production 15.2 25.8 30 1 206 12 20 Exports 76.4 129.6 16 0 92 15 14

Domestic Use 12.0 20.3 32 0 95 16 15 Ending Stocks 22.2 37.8 25 0 78 14 17

OATS

Production 26.7 45.3 36 1 231 8 24 Exports 121.6 206. 4 1 0 8 8 11

Domestic Use 11.6 19.7 23 5 160 11 21 Ending Stocks 29.9 50.8 18 0 77 10 19

SOYBEAN MEAL Thousand Short Tons

Production 6.1 10.3 1,388 0 5,344 19 12 Exports 19.2 32.7 1,032 0 2,750 19 12

Domestic Use 4.7 8.0 871 24 4,950 15 17 Ending Stocks 46.2 78.4 62 0 388 11 15

SOYBEAN OIL Million Pounds

Production 5.7 9.7 667 18 2,500 21 11 Exports 38.3 65.0 531 25 1,700 17 15

Domestic Use 4.2 7.0 451 8 1,800 19 13 Ending Stocks 39.3 66.6 494 25 1,702 19 13

ANIMAL PROD. 3/ Million Pounds

Beef 4.4 7.6 854 40 2,727 13 6

Pork 3.4 5.8 490 61 1,722 12 6

Broilers 2.7 4.7 752 80 1,640 8 11 Turkeys 3.9 6.8 164 2 477 11 8

Million Dozen

Eggs 1.4 2.4 77 2 200 11 8

Billion Pounds

Milk 1.8 3.1 2.5 0.2 6.7 10 9

1/ See pages 35 and 36 for record of reliability for U.S. wheat, rice, soybeans, and cotton. Marketing years 1981/82 through 2011/12 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 2011/12, and for 2012/13 last month's estimate. Calendar years 1982 through 2012 for meats, eggs, and milk. Final for animal products is defined as latest annual production estimate published by NASS for 1982-2012.

### WASDE-518-38



## 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
http://www.fas.usda.gov/psd/online . 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

.217720UNITED STATES DEPARTMENT OF AGRICULTURE

WORLD AGRICULTURAL OUTLOOK BOARD WASHINGTON, D.C. 20250-3812

___________________ OFFICIAL BUSINESS Penalty for Private Use, $300 FIRST-CLASS MAIL

POSTAGE & FEES PAID

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## World Agricultural Supply and Demand Estimates

WASDE-518 – May 10, 2013

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