U.S
SUPPLY/DEMAND DETAILED BY USDAThe U.S
Agriculture Department made the following supply/demand projections for the 1986/87 seasons, in mln bushels, with comparisons, unless noted --     CORN --     1986/87            1985/86            04/09/87 03/09/87  04/09/87 03/09/87  Acreage (mln acres) --      Planted   76.7    76.7     83.4    83.4    Harvested   69.2    69.2     75.2    75.2   Yield (bu)  119.3   119.3    118.0   118.0  Supply (mln bu) --   Start Stock  4,040   4,040    1,648   1,648   Production  8,253   8,253    8,877   8,877      Total-X 12,295  12,295   10,536  10,536   X-Includes imports
    CORN (cont.)                  1986/87           1985/86            04/09/87 03/09/87  04/09/87 03/09/87  Usage: Feed  4,500    4,300     4,095    4,126        Other  1,180    1,150     1,160    1,129   Ttl Domest  5,680    5,450     5,255    5,255      Exports  1,375    1,250     1,241    1,241    Total Use  7,055    6,700     6,496    6,496   End Stocks  5,240    5,595     4,040    4,040  Farmer Reser 1,400    1,300       564      564   CCC Stocks  1,700    1,500       546      546  Free Stocks  2,140    2,795     2,930    2,930   AvgPrice  1.35-1.65  1.35-1.65  2.23     2.23   Note - Price in dlrs per bu
Corn season begins Sept 1
    ALL WHEAT -                 1986/87            1985/86            04/09/87 03/09/87  04/09/87 03/09/87  Acreage (mln acres) --      Planted   72.0    72.0     75.6    75.6    Harvested   60.7    60.7     64.7    64.7        Yield   34.4    34.4     37.5    37.5  Supply (mln bu) --  Start Stcks  1,905   1,905    1,425   1,425   Production  2,087   2,087    2,425   2,425        Total     Supply-X  4,007   4,007    3,865   3,865  X - Includes imports
    ALL WHEAT   1986/87            1985/86  (cont.)   04/09/87 03/09/87  04/09/87 03/09/87  Usage: Food    700    690       678    678         Seed     84     90        93     93         Feed    350    325       274    274   Ttl Domest  1,134  1,105     1,045  1,045      Exports  1,025  1,025       915    915    Total Use  2,159  2,130     1,960  1,960   End Stocks  1,848  1,877     1,905  1,905  Farmer Reser   475    450       433    433   CCC Stocks    950    950       602    602  Free Stocks    423    477       870    870   Avg Price  2.30-40  2.30-40   3.08   3.08  Note - Price in dlrs per bushel
Wheat season begins June 1
    SOYBEANS -                 1986/87            1985/86            04/09/87 03/09/87  04/09/87 03/09/87  Acreage (mln acres) --       Planted   61.5   61.5     63.1   61.1     Harvested   59.4   59.4     61.6   61.6    Yield (bu)   33.8   33.8     34.1   34.1  Supply (mln bu) --  Start Stocks    536    536      316    316    Production  2,007  2,007    2,099  2,099         Total  2,543  2,543    2,415  2,415     SOYBEANS (cont.)                1986/87             1985/86           04/09/87 03/09/87   04/09/87 03/09/87       Usage --   Crushings  1,130   1,115      1,053   1,053     Exports    700     700        740     740  Seed, Feed and    Residual    103      93         86      86   Total Use  1,933   1,908      1,879   1,879  End Stocks    610     635        536     536  Avg Price 4.60-4.80 4.60-4.80   5.05    5.05  Note - Average price in dlrs per bushel
Soybean season begins June 1
    FEEDGRAINS - X                 1986/87            1985/86            04/09/87 03/09/87  04/09/87 03/09/87  Acreage (mln acres) --       Planted  119.8   119.8     128.1   128.1     Harvested  102.0   102.0     111.8   111.8  Yld (tonnes)   2.48    2.48      2.45    2.45  Supply (mln tonnes) --  Start Stocks  126.4   126.4      57.5    57.5    Production  252.4   252.4     274.4   274.4       Imports    0.6     0.6       0.9     0.9         Total  379.4   379.4     332.7   332.7  X - Includes corn, sorghum, barley, oats
    FEEDGRAINS - X (cont.)                  1986/87          1985/86            04/09/87 03/09/87  04/09/87 03/09/87  Usage: Feed  140.6   136.2     134.8   135.5        Other   35.8    35.0      35.0    34.3   Ttl Domest  176.4   171.2     169.8   169.8      Exports   43.9    40.8      36.6    36.6    Total Use  220.3   211.9     206.4   206.4   End Stocks  159.1   167.5     126.4   126.4  Farmer Reser  39.0    36.5      16.6    16.6   CCC Stocks   55.2    49.5      20.4    20.4  Free Stocks   64.8    81.5      89.3    89.3  X - Includes corn, sorghum, oats, barley
Seasons for oats, barley began June 1, corn and sorghum Sept 1
    SOYBEAN OIL -                 1986/87            1985/86            04/09/87 03/09/87  04/09/87 03/09/87  Supply (mln lbs) --  Start Stcks     947     947       632     632   Production  12,263  12,103    11,617  11,617      Imports     Nil     Nil         8       8        Total  13,210  13,050    12,257  12,257  Note - 1985/86 production estimates based on October year crush of 1,060 mln bushels
    SOYBEAN OIL (cont.) -                1986/87             1985/86           04/09/87  03/09/87  04/09/87  03/09/87  Usage (mln lbs) --   Domestic  10,500    10,500    10,053   10,053    Exports   1,350     1,350     1,257    1,257      Total  11,850    11,850    11,310   11,310  End Stcks   1,360     1,200       947      947  AvgPrice  14.5-16.0  15.0-17.0  18.00    18.00  Note - Average price in cents per lb
Season for soybean oil begins Oct 1
    SOYBEAN CAKE/MEAL, in thousand short tons --                 1986/87            1985/86            04/09/87 03/09/87  04/09/87 03/09/87  Start Stcks     212     212       387     387   Production  26,558  26,203    24,951  24,951        Total  26,770  26,415    25,338  25,338  Note - 1985/86 production estimates based on October year crush of 1,060 mln bushels
    SOY CAKE/MEAL (cont.) -                1986/87            1985/86           04/09/87 03/09/87  04/09/87 03/09/87  Usage (thous short tons) --   Domestic   20,000  19,750    19,090  19,118    Exports    6,500   6,350     6,036   6,008      Total   26,500  26,100    25,126  25,126  End Stcks      270     315       212     212   AvgPrice  145-150  145-150   154.90  154.90   Note - Price in dlrs per short ton
Season for soybean cake and meal begins Oct 1
    COTTON --                 1986/87            1985/86            04/09/87 03/09/87  04/09/87 03/09/87  Area (mln acres) --       Planted  10.06   10.06     10.68   10.68     Harvested   8.49    8.49     10.23   10.23   Yield (lbs)    549     553       630     630  Supply (mln 480-lb bales) --  Start Stks-X   9.35    9.35      4.10    4.10    Production   9.70    9.79     13.43   13.43  Ttl Supply-Y  19.06   19.14     17.57   17.57   X - Based on Census Bureau data
Y - Includes imports
    COTTON (cont.) -                1986/87           1985/86           04/09/87 03/09/87  04/09/87 03/09/87    Usage --    Domestic   7.10    7.01     6.40    6.40     Exports   6.66    6.76     1.96    1.96       Total  13.76   13.77     8.36    8.36  End Stocks   5.40    5.49     9.35    9.35  Avge Price  51.7-X  51.7-X   56.50   56.50  X - 1986/87 price is weighted average for first five months of marketing year, not a projection for 1986/87
Average price in cents per lb
Cotton season begins August 1
    RICE                1986/87            1985/86           04/09/87 03/09/87  04/09/87 03/09/87  Acreage (mln acres) --      Planted   2.40    2.40      2.51    2.51    Harvested   2.38    2.38      2.49    2.49  Yield (lbs)  5,648   5,648     5,414   5,414  Supply (mln cwts) --  Start Stcks   77.3    77.3      64.7    64.7   Production  134.4   134.4     134.9   134.9      Imports    2.2     2.2       2.2     2.2        Total  213.9   213.9     201.8   201.8     RICE (cont.)                 1986/87            1985/86            04/09/87 03/09/87  04/09/87 03/09/87  Usage (mln cwts) --     Domestic   67.0    67.0      65.8    65.8      Exports   80.0    80.0      58.7    58.7      Total-Y  147.0   147.0     124.5   124.5   End Stocks   66.9    66.9      77.3    77.3   CCC Stocks   42.9    42.9      41.5    41.5  Free Stocks   24.0    24.0      35.8    35.8    AvgPrice 3.45-4.25 3.45-4.25  6.53    6.53  Note - Average price in dlrs per CWT
Y-Rough equivalent
N.A.-Not Available, USDA revising price definition due to marketing loan
Rice season begins August 1
    SORGHUM                1986/87            1985/86           04/09/87 03/09/87  04/09/87 03/09/87   Yield (bu)  67.7    67.7     66.8    66.8  Supply (mln bu) --  Start Stcks   551     551      300     300   Production   942     942    1,120   1,120        Total 1,493   1,493    1,420   1,420   Usage (mln bu) --         Feed   550     575      662     662        Other    30      30       29      29   Ttl Domest   580     605      691     691     SORGHUM (cont.) -                 1986/87            1985/86            04/09/87 03/09/87  04/09/87 03/09/87     Exports     225     225       178     178   Total Use     805     830       869     869  End Stocks     688     663       551     551  Avge Price  1.30-50  1.30-50    1.93    1.93  Note - Price in dlrs per bushel
Sorghum season begins Sept 1
    BARLEY                 1986/87            1985/86            04/09/87 03/09/87  04/09/87 03/09/87    Yield (bu)  50.8    50.8      51.0    51.0  Start Stocks   325     325       247     247    Production   610     610       591     591       Imports     5       5         9       9         Total   941     941       847     847     BARLEY (cont.)              1986/87            1985/86         04/09/87 03/15/87  04/09/87 03/15/87  Usage (mln bu) --        Feed  300    300       333    333       Other  175    175       167    167  Ttl Domest  475    475       500    500     Exports  150    150        22     22   Total Use  625    625       522    522  End Stocks  316    316       325    325   AvgPrice 1.45-65  1.45-65  1.98   1.98  Note - Average price in dlrs per bushel
Barley season begins June 1
    OATS - in mln bushels                1986/87            1985/86           04/09/87 03/09/87  04/09/87 03/09/87   Yield (bu)  56.0   56.0      63.7   63.7  Start Stcks   184    184       180    180   Production   385    385       521    521      Imports    30     30        28     28        Total   598    598       729    729     OATS, in mln bushels (cont.)               1986/87             1985/86          04/09/87 03/09/87   04/09/87 03/09/87      Usage --       Feed   400     400       460     460      Other    85      85        83      83  Ttl Domes   485     485       543     543    Exports     2       2         2       2      Total   487     487       545     545  End Stcks   111     111       184     184  AvgPrice 1.00-20  1.00-20    1.23    1.23   Note - Average price in dlrs per bushel
Oats season begins June 1
    LONG GRAIN RICE, in mln CWTs (100 lbs) --                 1986/87            1985/86            04/09/87 03/09/87  04/09/87 03/09/87    Harvested --  Acres (mln)   1.83    1.83     1.94    1.94  Yield (lbs)  5,358   5,358    5,168   5,168   Start Stks   49.3    49.3     37.7    37.7   Production   97.8    97.8    100.4   100.4   Ttl Supply  148.6   148.6    140.1   140.1  Note -- Starting Stocks does not include broken kernels -- Supply minus use does not equal ending stocks in breakdowns
Total Supply includes imports but not broken kernels
    LONG GRAIN RICE, in mln CWTs (100 lbs), cont
--                  1986/87           1985/86             04/09/87 03/09/87 04/09/87 03/09/87  Domestic Use   43.0    43.0      48.8    48.8       Exports   65.0    60.0      42.0    42.0     Total Use  108.0   103.0      90.8    90.8  End Stocks-X   40.6    45.6      49.3    49.3     AvgPric 3.45-4.25 3.45-4.24   6.86    6.86  Note - Average price in dlrs per cwt
X-Broken kernels not included -- supply minus use does not equal ending stocks in breakdowns
Rice season begins August 1
    MEDIUM, SHORT GRAIN RICE - in mln CWTs (100 lbs) --                 1986/87            1985/86            04/09/87 03/09/87  04/09/87 03/09/87    Harvested --  Acres (mln)   0.55    0.55     0.55    0.55  Yield (lbs)  6,651   6,651    6,258   6,258   Start Stks   26.7    26.7     25.7    25.7   Production   36.6    36.6     34.5    34.5   Ttl Supply   65.3    65.3     61.7    61.7  Note -- Starting Stocks does not include broken kernels -- Supply minus use does not equal ending stocks in breakdowns
Total Supply includes imports but not broken kernels
    MEDIUM, SHORT GRAIN RICE, in mln CWTs (100 lbs), cont
--                  1986/87          1985/86             04/09/87 03/09/87 04/09/87 03/09/87  Domestic Use   24.0    24.0      17.0    17.0       Exports   15.0    20.0      16.7    16.7     Total Use   39.0    44.0      33.7    33.7  End Stocks-X   24.5    19.5      26.7    26.7     AvgPric 3.45-4.25  3.45-4.25  5.91    5.91  Note - Average price in dlrs per CWT
X-Broken kernels not included - supply minus use does not equal ending stocks in breakdowns
Rice season begins August 1
    NOTES ON U.S
SUPPLY/DEMAND TABLES     -- N.A
- Not available
    -- Totals may not add due to rounding
    -- Figures for 1986/87 are midpoint of USDA range
    -- Feed usage for corn, wheat, soybean, feedgrains, sorghum, barley, oats includes residual amount
    -- Residual amount included in rice and medium/short grain rice domestic usage
    -- Rice, long grain, and medium/short grain rice average price for 1985/86 estimates and 1986/87 projections are market prices and exclude cash retained under the marketing loan since April, 1986
 Reuter
