USDA Supply/Demand Report

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June 12, 2009

                 U.S. Feed Grain and Corn Supply and Use 1/
===============================================================================
                            :         :         :      2009/10  Projections
        Item                : 2007/08 : 2008/09 :==============================
                            :         :   Est.  :         May            June
===============================================================================
FEED GRAINS                 :
Area                        :               Million acres
 Planted                    :  109.0      101.7          99.3 *          99.3 *
 Harvested                  :   98.3       91.1          88.6 *          88.6 *
Yield per harvested         :                Metric tons
     acre                   :   3.56       3.58          3.65            3.60
                            :             Million metric tons
Beginning stocks            :   36.2       45.1          45.3            45.3
Production                  :  349.7      325.9         323.0           319.0
Imports                     :    3.3        3.0           2.8             2.8
  Supply, total             :  389.2      374.0         371.1           367.2
Feed and residual           :  157.8      145.0         141.1           138.5
Food, seed & industrial     :  116.5      135.6         144.5           144.5
  Domestic, total           :  274.3      280.6         285.6           283.0
Exports                     :   69.9       48.1          52.3            52.3
  Use, total                :  344.1      328.6         337.9           335.3
Ending stocks, total        :   45.1       45.3          33.2            31.8
  CCC inventory             :    0.0        0.0
  Free stocks               :   45.1       45.3
    Outstanding loans       :    2.7        3.9
                            :
CORN                        :
Area                        :               Million acres
 Planted                    :   93.5       86.0          85.0 *          85.0 *
 Harvested                  :   86.5       78.6          77.8 *          77.8 *
Yield per harvested         :                  Bushels
    acre                    :  150.7      153.9         155.4 *         153.4 *
                            :               Million bushels
Beginning stocks            :  1,304      1,624         1,600           1,600
Production                  : 13,038     12,101        12,090          11,935
Imports                     :     20         15            15              15
  Supply, total             : 14,362     13,740        13,705          13,550
Feed and residual           :  5,938      5,350         5,250           5,150
Food, seed & industrial     :  4,363      5,040         5,410           5,410
 Ethanol for fuel 2/        :  3,026      3,750         4,100           4,100
  Domestic, total           : 10,302     10,390        10,660          10,560
Exports                     :  2,436      1,750         1,900           1,900
  Use, total                : 12,737     12,140        12,560          12,460
Ending stocks, total        :  1,624      1,600         1,145           1,090
  CCC inventory             :      0          0
  Free stocks               :  1,624      1,600
    Outstanding loans       :    106        150
Avg. farm price ($/bu) 3/   :   4.20 4.10- 4.30    3.70- 4.50      3.90- 4.70
===============================================================================
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 further
breakout of food, seed, & industrial corn use including ethanol, see the ERS
Feed Outlook table 5 or Feed Grains Database at "www.ers.usda.gov/db/feedgrains."
3/ Marketing-year weighted average price received by farmers. *Planted acres
reported in the March 31, 2009, "Prospective Plantings."  For corn, harvested
acres projected based on historical abandonment and derived demand for silage.
Projected corn yield based on the simple linear trend of the national average
yield for 1990-2008 adjusted for 2009 planting progress.









        U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/
===============================================================================
                           :         :         :      2009/10  Projections
        Item               : 2007/08 : 2008/09 :===============================
                           :         :   Est.  :         May            June
===============================================================================
SOYBEANS:                  :               Million acres
Area                       :
  Planted                  :   64.7       75.7          76.0 *          76.0 *
  Harvested                :   64.1       74.6          75.0 *          75.0 *
                           :
                           :                   Bushels
Yield per harvested        :
    acre                   :   41.7       39.6          42.6 *          42.6 *
                           :
                           :             Million bushels
                           :
Beginning stocks           :    574        205           130             110
Production                 :  2,677      2,959         3,195           3,195
Imports                    :     10         12            12              12
  Supply, total            :  3,261      3,176         3,337           3,317
Crushings                  :  1,801      1,650         1,675           1,675
Exports                    :  1,161      1,250         1,260           1,260
Seed                       :     93         94            92              92
Residual                   :      0         73            79              79
  Use, total               :  3,056      3,066         3,107           3,107
Ending stocks              :    205        110           230             210
Avg. farm price ($/bu) 2/  :  10.10      10.00    8.45-10.45     9.00 -11.00
                           :
                           :
                           :               Million pounds
SOYBEAN OIL:               :
Beginning stocks           :  3,085      2,483         2,703           3,013
Production                 : 20,568     18,730 3/     19,045          19,010
Imports                    :     65        100            85              75
  Supply, total            : 23,718     21,313        21,833          22,098
Domestic                   : 18,327     16,200        16,700          16,500
  For methyl ester         :  2,981      1,750         2,200           2,200
Exports                    :  2,908      2,100         2,750           2,950
  Use, total               : 21,235     18,300        19,450          19,450
Ending stocks              :  2,483      3,013         2,383           2,648
Average price (c/lb) 2/    :  52.03      33.50         32.50-          33.00-
                           :                            36.50           37.00
                           :
                           :            Thousand short tons
SOYBEAN MEAL:              :
Beginning stocks           :    346        294           300             300
Production                 : 42,242     39,166 3/     39,835          39,835
Imports                    :    141        140           165             165
  Supply, total            : 42,729     39,600        40,300          40,300
Domestic                   : 33,155     30,500        30,800          30,800
Exports                    :  9,280      8,800         9,200           9,200
  Use, total               : 42,435     39,300        40,000          40,000
Ending stocks              :    294        300           300             300
Average price ($/s.t.) 2/  : 335.94     320.00        260.00-         275.00-
                           :                           320.00          335.00
===============================================================================
Note: Reliability calculations at end of report.
1/ Marketing year beginning September 1 for soybeans; October 1 for soybean oil
and meal.  2/ Prices: soybeans, marketing year weighted average price received
by farmers; for oil, simple average of crude soybean oil, Decatur; for meal,
simple average of 48 percent, Decatur.  3/ Based on October year crush estimate
of 1,655 million bushels.  *Planted acres are reported in the March 31
Prospective Plantings report.  Harvested acres based on 5-year average planted
to harvested ratios by state.  Projected yield based on 1989-2007 regional
trend analysis.









                           U.S. Wheat Supply and Use 1/
===============================================================================
                            :         :         :      2009/10  Projections
        Item                : 2007/08 : 2008/09 :==============================
                            :         :   Est.  :         May            June
===============================================================================
Area                        :               Million acres
 Planted                    :   60.5       63.1          58.6 *          58.6 *
 Harvested                  :   51.0       55.7          48.9 *          48.9 *
Yield per harvested         :                   Bushels
    acre                    :   40.2       44.9          41.4 *          41.2 *
                            :             Million bushels
Beginning stocks            :    456        306           669             669
Production                  :  2,051      2,500         2,026           2,016
Imports                     :    113        125           115             115
  Supply, total             :  2,620      2,930         2,810           2,800
Food                        :    947        922           955             955
Seed                        :     88         79            78              78
Feed and residual           :     15        250           240             220
  Domestic, total           :  1,050      1,251         1,273           1,253
Exports                     :  1,264      1,010           900             900
  Use, total                :  2,314      2,261         2,173           2,153
Ending stocks               :    306        669           637             647
  CCC inventory             :      0          0
  Free stocks               :    306        669
    Outstanding loans       :      1         27
Avg. farm price ($/bu) 2/   :   6.48       6.85    4.70- 5.70      4.90- 5.90
===============================================================================

                       U.S. Wheat by Class: Supply and Use
===============================================================================
   Year beginning           :  Hard  :   Hard  :  Soft  :       :       :
     June 1                 : Winter :  Spring :  Red   : White : Durum : Total
===============================================================================
2008/09 (estimated)         :                Million bushels
Beginning stocks            :    138        68      55       37       8     306
Production                  :  1,035       512     614      254      85   2,500
  Supply, total 3/          :  1,174       627     700      298     132   2,930
Domestic use                :    462       252     346      106      85   1,251
Exports                     :    445       215     190      135      25   1,010
  Use, total                :    907       467     536      241     110   2,261
  Ending stocks        Jun  :    267       159     164       57      22     669
                       May  :    267       159     164       52      27     669
===============================================================================
Note: Totals may not add due to rounding.  1/ Marketing year beginning June 1.
2/ Marketing-year weighted average price received by farmers. 3/ Includes
imports.  * For May, planted acres reported in March 31, 2009, "Prospective
Plantings."     Harvested acres and yield for other spring wheat and durum are
projected using 10-year harvested-to-planted ratios by state and projected
yield derived from 1985-2008 trend yields by state (except Idaho durum)
adjusted for 2009 Northern Plains planting progress. For June, winter wheat
harvested acres and yield reported in the June 10, 2009, "Crop Production."










               U.S. Sorghum, Barley and Oats Supply and Use 1/
===============================================================================
                            :         :         :      2009/10  Projections
         Item               : 2007/08 : 2008/09 :==============================
                            :         :   Est.  :         May            June
===============================================================================
                            :               Million bushels
SORGHUM                     :
Area planted (mil. acres)   :    7.7        8.3           7.0 *           7.0 *
Area harv. (mil. acres)     :    6.8        7.3           6.0 *           6.0 *
Yield (bushels/acre)        :   73.2       65.0          63.9 *          63.9 *
Beginning stocks            :     32         53            65              65
Production                  :    497        472           380             380
Imports                     :      0          0             0               0
   Supply, total            :    530        525           445             445
Feed and residual           :    164        220           160             160
Food, seed & industrial     :     35        110            90              90
   Total domestic           :    199        330           250             250
Exports                     :    278        130           140             140
   Use, total               :    477        460           390             390
Ending stocks, total        :     53         65            55              55
Avg. farm price ($/bu) 2/   :   4.08 3.20- 3.40    3.15- 3.85      3.30- 4.00
                            :
BARLEY                      :
Area planted (mil. acres)   :    4.0        4.2           4.0 *           4.0 *
Area harv. (mil. acres)     :    3.5        3.8           3.4 *           3.4 *
Yield (bushels/acre)        :   60.0       63.6          65.4 *          65.4 *
Beginning stocks            :     69         68            89              90
Production                  :    210        239           225             225
Imports                     :     32         30            25              25
   Supply, total            :    311        338           339             340
Feed and residual           :     32         65            70              70
Food, seed & industrial     :    169        170           170             170
   Total domestic           :    201        235           240             240
Exports                     :     41         13            20              20
   Use, total               :    242        248           260             260
Ending stocks, total        :     68         90            79              80
Avg. farm price ($/bu) 2/   :   4.02       5.20    3.75- 4.45      3.85- 4.55
                            :
OATS                        :
Area planted (mil. acres)   :    3.8        3.2           3.4 *           3.4 *
Area harv. (mil. acres)     :    1.5        1.4           1.4 *           1.4 *
Yield (bushels/acre)        :   60.1       63.5          63.8 *          63.8 *
Beginning stocks            :     51         67            72              72
Production                  :     90         89            90              90
Imports                     :    123        115           110             110
   Supply, total            :    264        270           272             272
Feed and residual           :    120        120           125             125
Food, seed & industrial     :     74         75            75              75
   Total domestic           :    195        195           200             200
Exports                     :      3          3             3               3
   Use, total               :    198        198           203             203
Ending stocks, total        :     67         72            69              69
Avg. farm price ($/bu) 2/   :   2.63       3.15    2.20- 3.00      2.30- 3.10
===============================================================================
Note: Totals may not add due to rounding.  1/ Marketing year beginning
September 1 for sorghum, June 1 for barley and oats. 2/ Marketing-year weighted average price
received by farmers.  * Planted acres reported in the March 31,
2009, "Prospective Plantings."   Harvested area - For sorghum, barley, and oats harvested
acres are based on the 5-year average harvested-to-planted ratio, 2004-2008.  Yield - For
sorghum the projected yield is derived from the 1999-2008
average yield, excluding 2002, 2003, and 2007, adjusted for rounding in
production.  For barley and oats the projected yield is derived from the
1960-2008 trend yield adjusted for rounding in production.











                          U.S. Rice Supply and Use 1/
                 (Rough Equivalent of Rough and Milled Rice)
===============================================================================
                            :         :         :      2009/10  Projections
        Item                : 2007/08 : 2008/09 :==============================
                            :         :   Est.  :         May            June
===============================================================================
TOTAL                       :
Area                        :               Million acres
 Planted                    :   2.76       3.00          3.18 *          3.18 *
 Harvested                  :   2.75       2.98          3.16 *          3.16 *
Yield per harvested         :                    Pounds
   acre                     :  7,219      6,846         7,082 *         6,955 *
                            :
                            :            Million hundredweight
 Beginning stocks 2/        :   39.3       29.4          23.2            23.2
 Production                 :  198.4      203.7         224.0           220.0
 Imports                    :   23.9       19.0          21.0            22.0
   Supply, total            :  261.6      252.2         268.2           265.2
 Domestic & residual 3/     :  126.8      135.0         132.0           132.0
 Exports, total 4/          :  105.4       94.0          97.0            97.0
  Rough                     :   37.7       33.0          37.0            35.0
  Milled (rough equiv.)     :   67.7       61.0          60.0            62.0
   Use, total               :  232.2      229.0         229.0           229.0
 Ending stocks              :   29.4       23.2          39.2            36.2
Avg. milling yield (%) 5/   :   70.5       70.5          70.5            70.5
Avg. farm price ($/cwt) 6/  :  12.8015.75-16.25   10.50-11.50     10.50-11.50
                            :
LONG GRAIN                  :
 Harvested acres (mil.)     :   2.05       2.35
 Yield (pounds/acre)        :  6,980      6,522
 Beginning stocks           :   28.5       19.0          13.3            13.3
 Production                 :  143.2      153.3         173.0           169.0
   Supply, total 7/         :  189.4      188.3         203.3           200.3
 Domestic & Residual 3/     :   91.0      106.0         100.0           100.0
 Exports 8/                 :   79.4       69.0          74.0            74.0
   Use, total               :  170.4      175.0         174.0           174.0
 Ending stocks              :   19.0       13.3          29.3            26.3
 Avg. farm price ($/cwt) 6/ :  12.4014.55-15.05    9.50-10.50      9.50-10.50
                            :
MEDIUM & SHORT GRAIN        :
 Harvested acres (mil.)     :   0.70       0.63
 Yield (pounds/acre)        :  7,924      8,063
 Beginning stocks           :   10.0        9.1           8.6             8.6
 Production                 :   55.2       50.5          51.0            51.0
   Supply, total 7/         :   70.8       62.6          63.6            63.6
 Domestic & Residual 3/     :   35.7       29.0          32.0            32.0
 Exports 8/                 :   26.0       25.0          23.0            23.0
   Use, total               :   61.8       54.0          55.0            55.0
 Ending stocks              :    9.1        8.6           8.6             8.6
 Avg. farm price ($/cwt) 6/ :  14.6021.10-21.60   15.50-16.50     15.50-16.50
===============================================================================
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. cwt): 2007/08-0.8;
2008/09-1.3; 2009/10-1.3. 3/ Residual includes unreported use, processing losses,
and estimating errors.  Use by type may not add to total rice use because of the
difference in brokens between beginning and ending stocks.  4/ Includes rough rice
and milled rice exports.  Milled rice exports are converted to an equivalent rough
basis.  5/ Expressed as a percent, i.e., the total quantity of whole kernel and
broken rice produced divided by the quantity of rough rice milled.  6/ Marketing-year
weighted average price received by farmers.  7/ Includes imports.  8/ Exports by type
of rice are estimated.  * Planted acres reported in March 31, 2009, "Prospective
Plantings."  Harvested acres are estimated using the average harvested-to-planted
ratios by State and rice class, 2006-2008.  For May and June: Projected yield is
derived from the trend yields by rice class for the period, 1990-2008. The combined
medium- and short-grain yield trend is adjusted slightly lower because of a larger
share of lower yielding medium grain rice in the South. For June: The yield is
adjusted for late planting and slow development of the crop in the Delta caused
by heavy rains in May.








                          U. S. Cotton Supply and Use 1/
===============================================================================
                           :         :         :      2009/10  Projections
        Item               : 2007/08 : 2008/09 :===============================
                           :         :   Est.  :         May            June
===============================================================================
                           :               Million acres
Area                       :
  Planted                  :  10.83       9.47          8.81 *          8.81 *
  Harvested                :  10.49       7.57          7.90 *          7.90 *
                           :
                           :                   Pounds
Yield per harvested        :
    acre                   :    879        813           805 *           805 *
                           :
                           :             Million 480 pound bales
                           :
Beginning stocks 2/        :   9.48      10.04          6.80            6.60
Production                 :  19.21      12.82         13.25           13.25
Imports                    :   0.01       0.01          0.01            0.01
  Supply, total            :  28.70      22.86         20.06           19.86
Domestic use               :   4.59       3.55          3.50            3.50
Exports                    :  13.65      12.70         11.00           10.80
  Use, total               :  18.24      16.25         14.50           14.30
Unaccounted 3/             :   0.41       0.01         -0.04           -0.04
Ending stocks              :  10.04       6.60          5.60            5.60
                           :
Avg. farm price 4/         :   59.3       49.0     48.0-60.0       48.0-60.0
===============================================================================
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/ Based on Bureau of Census data.  3/ Reflects the
difference between the previous season's supply less total use and ending
stocks based on Bureau of Census data.  4/ Upland cotton marketing year
weighted average price received by farmers in cents per pound.  *Planted area
reported in March 31 "Prospective Plantings."  Projected harvested area is based
on the 2004-2008 average abandonment, weighted by region.  Projected yield per
harvested acre is based on the 2004-2008 average yield, weighted by region.


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