2024 - USDA - World Agricultural Supply

World Agricultural Supply
ISSN: 1554-9089
and Demand Estimates
Office of the Agricultural Marketing Service Economic Research Service
Chief Economist Farm Service Agency Foreign Agricultural Service
WASDE - 645 Approved by the World Agricultural Outlook Board February 8, 2024
WHEAT: The outlook for 2023/24 U.S. wheat is for stable supplies, lower domestic use,
unchanged exports, and higher ending stocks. Food use is reduced 10 million bushels to
960 million, on lower wheat flour grind as indicated in the NASS Flour Milling Products
report released on February 1. The reduction is the result of the October-December
quarter, which was the lowest flour grind on record for this quarter as reported in Flour
Milling Products. Wheat exports are unchanged at 725 million bushels with offsetting by-
class changes for Hard Red Spring and Hard Red Winter. Projected ending stocks are
raised 10 million bushels to 658 million. The 2023/24 season-average farm price forecast
is unchanged at $7.20 per bushel.
The global wheat outlook for 2023/24 is for increased supplies, consumption, and trade
but lower ending stocks. Supplies are raised 0.5 million tons to 1,057.0 million, primarily
on higher production for Iraq and Argentina. Global consumption is raised 1.1 million tons
to 797.5 million, mainly on larger Food, Seed, and Industrial (FSI) use in India, where the
government is continuing to sell reserves to address price inflation. World trade is raised
1.2 million tons to 210.7 million with higher exports by Ukraine, Argentina, Australia, and
Turkey that more than offset reduced exports from the United Kingdom and Brazil.
Projected 2023/24 ending stocks are lowered 0.7 million tons to 259.4 million, the lowest
level since 2015/16, on decreases for India, China, and Ukraine.
COARSE GRAINS: This month’s 2023/24 U.S. corn outlook is for lower food, seed, and
industrial use and larger ending stocks. Corn used for glucose and dextrose is reduced
10 million bushels based on indicated usage to date. With no other use changes, U.S.
corn ending stocks are up 10 million bushels from last month. The season-average corn
price received by producers is unchanged at $4.80 per bushel.
Global coarse grain production for 2023/24 is forecast 3.8 million tons lower to 1,510.1
million. This month’s foreign coarse grain outlook is for reduced production, virtually
unchanged consumption, and lower ending stocks relative to last month. Foreign corn
production is down, with reductions for Brazil, Mexico, and Serbia partially offset by
increases for India and Turkey. For Brazil, production is cut based on lower expected
area.
Major global trade changes for 2023/24 include higher projected corn exports for Ukraine
and Pakistan with reductions for Brazil, India, and Serbia. For 2022/23, Argentina’s
exports for the marketing year beginning in March 2023 are raised based on observed
shipments to date, while Brazil is lowered. Corn imports for 2023/24 are cut for
Bangladesh and the EU. Barley exports are raised for Australia and Ukraine but lowered
for Canada. Foreign corn ending stocks are down relative to last month, reflecting
WASDE-645-2
reductions for Ukraine, Brazil, India, the EU, Mexico, and Paraguay. Global corn ending
stocks, at 322.1 million tons, are down 3.2 million.
RICE: The outlook for 2023/24 U.S. rice this month is for slightly higher supplies,
unchanged domestic use, higher exports, and lower ending stocks. Total supplies are
increased, all on higher imports. All rice imports are raised 1.0 million cwt to a record 43.0
million with all of the increase in long-grain on the strong pace of Thai jasmine rice
imports to date. All rice exports are raised 2.0 million cwt to 87.0 million with all of the
increase in long-grain on an improved pace of sales and shipments to Western
Hemisphere countries. Projected ending stocks are reduced 1.0 million cwt to 42.5 million
but are still 40 percent higher than last year. The season-average price for all rice is
unchanged at $18.40 per cwt.
The 2023/24 global outlook this month is for higher supplies and consumption, modestly
higher trade, and nearly unchanged ending stocks. Supplies are raised 0.7 million tons to
690.1 million, largely on higher beginning stocks for Indonesia and Vietnam. Supplies
also are higher on increased production for Sri Lanka as the country recovers from two
years of lower output. World 2023/24 consumption is raised 0.8 million tons to a record
522.9 million, led by increases for Indonesia, Saudi Arabia, and the Philippines. Global
2023/24 trade is raised 0.1 million tons to 51.6 million on higher exports for Pakistan and
the United States. Projected world ending stocks are fractionally lowered 0.1 million tons
to 167.2 million on several largely offsetting changes, most notably a reduction in China
and an increase for Indonesia.
OILSEEDS: This month’s 2023/24 U.S. soybean outlook is for lower soybean exports
and higher ending stocks. Soybean exports are forecast at 1.72 billion bushels, down 35
million from last month, reflecting the slow pace of shipments through January and strong
competition with Brazil. With crush unchanged, ending stocks are forecast at 315 million
bushels, up 35 million.
The U.S. season-average soybean price for 2023/24 is forecast at $12.65 per bushel,
down $0.10 from last month. The soybean meal price is forecast unchanged at $380 per
short ton. The soybean oil price is forecast at 51 cents per pound, down 3 cents.
Global 2023/24 soybean supply and demand forecasts include higher beginning stocks,
lower production, lower exports, and higher ending stocks compared to last month.
Beginning stocks are raised 1.7 million tons mainly on a higher 2022/23 crop for Brazil.
Brazil’s 2022/23 production is raised 2.0 million tons to 162.0 million on a higher area and
yield, and reflects nearly finalized crush and export data through the end of the crop year.
Brazil’s 2023/24 crop is reduced 1.0 million tons to 156.0 million as higher harvested area
is offset by a lower yield on adverse weather conditions in southern Mato Grosso and
Parana.
Global soybean exports for 2023/24 are reduced 0.4 million tons to 170.6 million on lower
shipments for the United States. Partly offsetting are higher exports for Brazil on a strong
year-to-date (October-January) pace. Imports are reduced for Vietnam. Global soybean
ending stocks are increased 1.4 million tons to 116.0 million on higher stocks for the
United States and Brazil.
WASDE-645-3
SUGAR: Mexico production for 2023/24 is projected at 4.875 million metric tons (MT), a
decrease of 141,000 from last month and also 349,248 lower than last year. The
sugarcane harvest in Mexico continues to lag at levels unprecedented in recent times. All
relevant production parameters (yields and recovery) through February 2 are several
standard deviations below 10-year averages with no improvement being seen as time
advances. Late unseasonal rainfall has been present in all regions except the drought-
plagued Northeast slowing the pace of the campaign. Interim analysis based on the latest
CONADESUCA data implies a full-season national sugarcane yield of 62.6 metric tons
(MT)/hectare and an extremely low sucrose recovery of 10.03 percent. Applying these
rates to area harvested estimated by CONADESUCA at 776,408 hectares produces the
current WASDE projection.
The production of low polarity sugar for export to the United States is projected at 10.5
percent of total production (the same rate estimated by CONADESUCA). Assuming that
all of this sugar is exported to the U.S. market and like last year constitutes 75 percent of
the total exported, exports to the United States are projected at 683,752 MT. Exports to
other countries are unchanged at 25,000 MT and total exports at 708,752 MT are down
105,328 from last month. Deliveries and ending stocks are unchanged and imports are
residually projected at 546,538 MT, up 35,672 over last month.
U.S. sugar supply for 2023/24 is decreased by 23,392 short tons, raw value (STRV) on
lower beet sugar production only partially offset by increases in cane sugar production
and imports. Adoption of beet sugar processors’ estimates of beet pile shrink published in
the February Sweetener Market Data (SMD) reduces production by 79,297 STRV to
5.327 million. Louisiana cane sugar production for the fiscal year is increased 31,500 to
1.935 million on industry reporting and Florida cane sugar production is increased 7,943
STRV on processors’ reporting in the SMD. Imports are increased by 16,462 STRV on a
140,000 STRV increase in high-tier tariff imports more than offsetting the decline in
imports from Mexico. High-tier tariff imports are increased on the pace-to-date. Based on
both U.S. Census and Customs and Border Protection (CBP) data, USDA estimates high
duty raw sugar imports entered as of February 5 at 232,566 STRV raising the full year
projection to 475,000. High-tier tariff refined imports are increased to 240,000 STRV
based on a monthly larger pace for October through January than originally projected.
Deliveries for human consumption are reduced by 75,000 STRV to 12.450 million on the
pace to date. With the change in use greater than the reduction in supply, ending stocks
increase by 51,608 STRV to 1.805 million for a stocks-to-use ratio of 14.2 percent, up
from 13.7 percent last month.
LIVESTOCK, POULTRY, AND DAIRY: Red meat, poultry, and egg supply and use
estimates for 2023 are adjusted to reflect December production, ending stock, and trade
data.
For 2024, the beef production forecast is raised from last month. Slaughter is lowered for
the first half, reflecting a slower pace of cattle slaughter. For the second half, steer and
heifer slaughter is raised as USDA’s January Cattle report implied a smaller decline in
cattle outside feedlots than previously expected and to the extent these cattle are placed
on feed in the first half, they will likely be marketed and slaughtered in the second half.
WASDE-645-4
Carcass weights for the second half are also raised. Pork production is lowered on a
slower pace of slaughter. Broiler production is raised for the first quarter on expectations
of heavier bird weights. Turkey production is lowered as the sector continues to adjust to
Highly Pathogenic Avian Influenza discoveries in 2023 and early 2024 as well as
relatively weak demand. Egg production is reduced slightly on recent layer flock data.
Beef imports for 2024 are raised for the year on firm demand for imported beef and larger
supplies of beef, largely in Oceania. The beef export forecast is unchanged. The pork
export forecast is raised on the pace of exports in late 2023 and expectations of
continued firm demand in a number of key markets. Broiler exports are reduced on higher
U.S. prices and weaker import demand, but lower turkey prices are expected to support
gains in turkey exports in early 2024.
For 2024, cattle prices are raised on expected strength in first-half demand for fed cattle
in the face of tightening feedlot numbers. Hog prices are raised on lower pork production
and steady demand. First-half broiler prices are projected higher on current prices.
Turkey prices are lowered on recent prices and continued weak demand. Egg prices are
raised on recent prices and expectations of relatively firm demand strength post-Easter.
Milk supply and use estimates for 2023 are adjusted to reflect December domestic and
trade data.
For 2024, milk production is lowered due to lower expected output per cow, which is
partly offset by higher cow inventories. On a fat basis, domestic use is raised as a more
rapid pace of disappearance during the fourth quarter of 2023 carries over into 2024. Fat
basis exports are raised, based on higher expected butter and cheese exports, as the
United States is expected to be competitive on the international market for those
products. Fat basis imports are lowered. Skim-solids basis domestic use is also raised
based on higher-than-expected disappearance in fourth-quarter 2023. Skim-solids basis
exports are lowered to reflect the strength of domestic prices as domestic demand is
stronger.
Cheese, butter, nonfat dry milk (NDM) and whey prices for 2024 are all raised based on
recent price strength, tighter supplies of milk, and stronger domestic use. Class III and
Class IV prices in 2024 are also raised based on higher product prices. The all milk price
estimate for 2023 is reduced to $20.48 per cwt based on reported data through
December. The all milk price forecast for 2024 is raised to $20.95 per cwt.
COTTON: The 2023/24 U.S. cotton balance sheet has lower ending stocks relative to
last month, with higher exports and lower mill use, while production is unchanged. The
export forecast is raised 200,000 bales to 12.3 million based on a strong pace of
shipments and sales to date. Similarly, projected mill use is reduced 150,000 bales as
U.S. domestic spinning activity remains low. Ending stocks are now estimated at 2.8
million bales, equivalent to 20 percent of total disappearance. The upland cotton
marketing year average price received by producers is projected at 77 cents per pound, 1
cent higher than in January.
WASDE-645-5
World 2023/24 cotton ending stocks are nearly 700,000 bales lower this month, as lower
beginning stocks and production reduce supplies. World consumption is virtually
unchanged as increases in China and Vietnam are offset by lower consumption in Turkey,
the United States, and Thailand. Beginning stocks are 250,000 bales lower than in
January largely due to a downward revision in Argentina’s 2022/23 cotton crop. Projected
2023/24 world cotton production is 355,000 bales lower this month, with cuts in Australia
and Benin partly offset by smaller increases elsewhere. World trade is nearly 200,000
bales lower as a 500,000-bale increase in China’s imports is more than offset by
reductions for India, Pakistan, Thailand, and Turkey. Exports are higher for the United
States, Burkina Faso, and Turkey, and lower for Brazil, Argentina, and Australia.
Approved by the Secretary of Agriculture and by the Chairman of the World Agricultural Outlook
Board, Mark Jekanowski, (202) 720-6030. This report was prepared by the Interagency Commodity
Estimates Committees.
APPROVED BY:
ALEXIS M. TAYLOR
SECRETARY OF AGRICULTURE DESIGNATE
WASDE-645-6
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: Mark Simone, ICEC Chair, WAOB, mark.simone@usda.gov

Andrew Sowell, ERS; Rachel Trego, FAS; Bruce McWilliams, FPAC.
Rice: Mark Simone, ICEC Chair, WAOB, mark.simone@usda.gov

Nathan Childs, ERS; Rachel Trego, FAS; Kent Lanclos, FPAC.
Feed Grains: Michael Jewison, ICEC Chair, WAOB, michael.jewison2@usda.gov

Aaron Ates, ERS; Kevin Min, FAS; Jacob Vuillemin, FPAC.
Oilseeds: Joanna Hitchner, ICEC Chair, WAOB, joanna.hitchner@usda.gov

Maria Bukowski, ERS; Agata Kingsbury, FAS; Gustavo Ferreira, FPAC.
Cotton: Stephen MacDonald, ICEC Chair, WAOB, stephen.macdonald3@usda.gov

Leslie Meyer, ERS; Graham Soley, FAS; Kent Lanclos, FPAC.
Sugar: Stephen Haley, ICEC Chair, WAOB, stephen.haley2@usda.gov

Vida Abadam, ERS; Souleymane Diaby, FAS; Barbara Fecso, FPAC.
Meat Animals: Shayle Shagam, ICEC Chair, WAOB, shayle.shagam@usda.gov

Sherry Wise, AMS; Mildred Haley, ERS; Mason Grahame, FAS; Jacob Vuillemin, FPAC.
Poultry: Shayle Shagam, ICEC Chair, WAOB, shayle.shagam@usda.gov

Peyton Ferrier, AMS; Grace Grossen, ERS; Claire Mezoughem, FAS; Georgi Gabrielyan,
FPAC.
Dairy: Shayle Shagam, ICEC Chair, WAOB, shayle.shagam@usda.gov

Carolyn Liebrand, AMS; Adriana Valcu-Lisman, ERS; Jeffery Dwyer, FAS; Georgi
Gabrielyan, FPAC.
In 2024 the WASDE report will be released on Mar 8, Apr 11, May 10,
Jun 12, Jul 12, Aug 12, Sep 12, Oct 11, Nov 8, and Dec 10.
WASDE-645-7
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
February 2024
WASDE - 645 - 8
World and U.S. Supply and Use for Grains 1/

Million Metric Tons
Total Total Ending
World Output Trade 2/
Supply Use 3/ Stocks
Total Grains 4/ 2021/22 2793.94 3588.82 513.54 2794.80 794.02
2022/23 (Est.) 2748.47 3542.49 495.50 2764.84 777.65
filler filler filler filler filler
2023/24 (Proj.) Jan 2812.30 3589.92 501.28 2810.97 778.95

2023/24 (Proj.) Feb 2809.56 3587.20 503.23 2812.11 775.09
Wheat 2021/22 780.05 1063.91 202.77 791.16 272.75

2022/23 (Est.) 789.17 1061.93 220.17 790.71 271.21
2023/24 (Proj.) Jan 784.91 1056.47 209.54 796.44 260.03

2023/24 (Proj.) Feb 785.74 1056.96 210.69 797.52 259.44
Coarse Grains 5/ 2021/22 1500.79 1824.00 253.87 1486.02 337.98

2022/23 (Est.) 1446.34 1784.32 221.05 1454.24 330.09
2023/24 (Proj.) Jan 1513.85 1844.10 240.25 1492.43 351.67

2023/24 (Proj.) Feb 1510.08 1840.17 240.92 1491.70 348.47
Rice, milled 2021/22 513.10 700.91 56.90 517.62 183.28

2022/23 (Est.) 512.96 696.24 54.28 519.89 176.35
2023/24 (Proj.) Jan 513.54 689.35 51.50 522.10 167.25

2023/24 (Proj.) Feb 513.74 690.08 51.62 522.90 167.18
Total Total Ending

United States
Output Supply Trade 2/ Use 3/ Stocks
Total Grains 4/ 2021/22 447.17 511.98 94.82 360.06 57.09
2022/23 (Est.) 406.43 471.36 67.73 350.03 53.60
2023/24 (Proj.) Jan 459.13 520.72 81.72 362.27 76.74

2023/24 (Proj.) Feb 459.13 520.66 82.03 361.40 77.23
Wheat 2021/22 44.80 70.42 21.66 30.41 18.36

2022/23 (Est.) 44.90 66.57 20.65 30.42 15.50
2023/24 (Proj.) Jan 49.31 68.76 19.73 31.41 17.62

2023/24 (Proj.) Feb 49.31 68.76 19.73 31.14 17.90
Coarse Grains 5/ 2021/22 396.30 432.90 70.52 324.91 37.48

2022/23 (Est.) 356.45 397.18 45.04 315.00 37.14
2023/24 (Proj.) Jan 402.89 442.73 59.29 325.71 57.73

2023/24 (Proj.) Feb 402.89 442.65 59.54 325.12 57.99
Rice, milled 2021/22 6.07 8.65 2.65 4.74 1.26

2022/23 (Est.) 5.08 7.61 2.04 4.61 0.96
2023/24 (Proj.) Jan 6.93 9.23 2.70 5.14 1.38

2023/24 (Proj.) Feb 6.93 9.26 2.76 5.14 1.35
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, barley, oats, rye, millet, and mixed grains (for U.S. excludes millet
and mixed grains).
February 2024
WASDE - 645 - 9
World and U.S. Supply and Use for Grains, Continued 1/

Million Metric Tons
Total Total Ending
Foreign 3/
Output Supply Trade 2/ Use Stocks
Total Grains 4/ 2021/22 2,346.78 3,076.84 418.71 2,434.74 736.93
2022/23 (Est.) 2,342.04 3,071.13 427.76 2,414.81 724.05
2023/24 (Proj.) Jan 2,353.17 3,069.20 419.57 2,448.70 702.21

2023/24 (Proj.) Feb 2,350.42 3,066.54 421.19 2,450.71 697.86
Wheat 2021/22 735.25 993.49 181.11 760.75 254.40

2022/23 (Est.) 744.28 995.36 199.52 760.29 255.71
2023/24 (Proj.) Jan 735.59 987.71 189.81 765.03 242.41

2023/24 (Proj.) Feb 736.43 988.19 190.96 766.38 241.54
Coarse Grains 5/ 2021/22 1,104.50 1,391.10 183.35 1,161.11 300.51

2022/23 (Est.) 1,089.89 1,387.15 176.01 1,139.24 292.95
2023/24 (Proj.) Jan 1,110.96 1,401.37 180.96 1,166.71 293.94

2023/24 (Proj.) Feb 1,107.19 1,397.52 181.38 1,166.58 290.48
Rice, milled 2021/22 507.03 692.25 54.25 512.88 182.02

2022/23 (Est.) 507.87 688.63 52.23 515.29 175.38
2023/24 (Proj.) Jan 506.61 680.12 48.80 516.96 165.87

2023/24 (Proj.) Feb 506.80 680.82 48.85 517.75 165.83
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 minus 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
Total Total Ending
Output Supply Trade 2/ Use 3/ Stocks
World 2021/22 114.49 192.16 43.19 116.11 76.42
2022/23 (Est.) 116.26 192.68 36.96 111.16 82.97
2023/24 (Proj.) Jan 113.18 196.39 43.05 112.43 84.38

2023/24 (Proj.) Feb 112.82 195.79 42.87 112.46 83.70
United States 2021/22 17.52 20.68 14.48 2.55 4.05

2022/23 (Est.) 14.47 18.52 12.77 2.05 4.25
2023/24 (Proj.) Jan 12.43 16.69 12.10 1.90 2.90

2023/24 (Proj.) Feb 12.43 16.69 12.30 1.75 2.80
Foreign 4/ 2021/22 96.96 171.48 28.71 113.56 72.37

2022/23 (Est.) 101.79 174.16 24.20 109.11 78.72
2023/24 (Proj.) Jan 100.75 179.71 30.95 110.53 81.48

2023/24 (Proj.) Feb 100.39 179.10 30.57 110.71 80.90
1/ Marketing year beginning August 1. 2/ Based on export estimate. 3/ Includes mill use only. 4/ Total Foreign is equal to
world minus United States. See global cotton tables for treatment of export/import imbalances.
February 2024
WASDE - 645 - 10
World and U.S. Supply and Use for Oilseeds 1/

(Million Metric Tons)
Total Total Ending
World
Output Supply Trade Use 2/ Stocks
Oilseeds 2021/22 611.78 727.80 179.45 510.18 117.47
2022/23 (Est.) 637.21 754.69 202.12 523.91 122.36
2023/24 (Proj.) Jan 660.18 780.29 197.35 541.96 131.34

2023/24 (Proj.) Feb 659.40 781.76 197.13 541.85 133.37
Oilmeals 2021/22 349.53 369.35 96.28 346.77 20.28

2022/23 (Est.) 356.83 377.11 97.27 355.03 17.64
2023/24 (Proj.) Jan 369.85 387.65 100.71 364.10 19.69

2023/24 (Proj.) Feb 369.79 387.42 101.51 364.17 19.28
Vegetable Oils 2021/22 207.77 236.58 79.61 202.38 29.11

2022/23 (Est.) 217.67 246.78 88.33 210.39 31.41
2023/24 (Proj.) Jan 223.04 253.91 89.89 218.48 30.41

2023/24 (Proj.) Feb 222.83 254.24 89.60 217.98 31.13
United States Output

Total
Supply Trade
Total
/Use 2
Ending
Stocks
Oilseeds 2021/22 131.32 141.14 59.55 63.87 9.14

2022/23 (Est.) 125.75 136.42 55.12 64.16 8.85
2023/24 (Proj.) Jan 122.37 132.70 48.79 66.71 9.15

2023/24 (Proj.) Feb 122.37 132.70 47.97 66.59 10.14
Oilmeals 2021/22 49.23 53.19 12.46 40.38 0.35

2022/23 (Est.) 49.94 54.60 13.50 40.69 0.41
2023/24 (Proj.) Jan 51.52 56.16 14.10 41.62 0.44

2023/24 (Proj.) Feb 51.45 56.09 14.09 41.56 0.44
Vegetable Oils 2021/22 13.05 19.62 1.05 17.30 1.27

2022/23 (Est.) 13.18 20.73 0.33 19.27 1.12
2023/24 (Proj.) Jan 13.59 21.38 0.30 19.97 1.11

2023/24 (Proj.) Feb 13.54 21.27 0.30 19.86 1.11
Foreign 3/ Output
Total
Supply Trade
Total
Use 2/
Ending
Stocks
Oilseeds 2021/22 480.46 586.66 119.90 446.31 108.33

2022/23 (Est.) 511.46 618.27 147.01 459.75 113.51
2023/24 (Proj.) Jan 537.80 647.59 148.56 475.25 122.19

2023/24 (Proj.) Feb 537.03 649.07 149.16 475.26 123.23
Oilmeals 2021/22 300.30 316.16 83.82 306.39 19.93

2022/23 (Est.) 306.88 322.50 83.77 314.34 17.22
2023/24 (Proj.) Jan 318.33 331.49 86.62 322.48 19.25

2023/24 (Proj.) Feb 318.34 331.33 87.43 322.60 18.83
Vegetable Oils 2021/22 194.72 216.96 78.57 185.09 27.84

2022/23 (Est.) 204.49 226.05 88.00 191.12 30.29
2023/24 (Proj.) Jan 209.44 232.53 89.58 198.51 29.30

2023/24 (Proj.) Feb 209.29 232.97 89.30 198.12 30.02
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.
February 2024
WASDE - 645 - 11
U.S. Wheat Supply and Use 1/
2021/22 2022/23 Est. 2023/24 Proj. 2023/24 Proj.

Jan Feb
Million Acres
Area Planted 46.7 45.8 49.6 49.6
Area Harvested 37.1 35.5 37.3 37.3
Bushels
Yield per Harvested Acre 44.3 46.5 48.6 48.6
Million Bushels
Beginning Stocks 845 674 570 570
Production 1,646 1,650 1,812 1,812
Imports 96 122 145 145
Supply, Total 2,588 2,446 2,527 2,527
Food 971 973 970 960
Seed 58 68 64 64
Feed and Residual 88 77 120 120
Domestic, Total 1,117 1,118 1,154 1,144
Exports 796 759 725 725
Use, Total 1,913 1,876 1,879 1,869
Ending Stocks 674 570 648 658
Avg. Farm Price ($/bu) 2/ 7.63 8.83 7.20 7.20
U.S. Wheat by Class: Supply and Use

Hard Red Hard Red Soft Red
Year beginning June 1
Winter Spring Winter White Durum Total
Million Bushels
2022/23 (Est.) Beginning Stocks 356 142 99 54 24 674
Production 531 446 336 272 64 1,650
Imports 5 56 4 7 51 122
Supply, Total 3/ 891 644 439 333 139 2,446
Food 374 266 163 85 85 973
Seed 29 17 14 6 3 68
Feed and Residual 42 -8 65 -22 0 77
Domestic Use 444 275 242 68 88 1,118
Exports 224 214 107 190 23 759
Use, Total 669 489 349 259 111 1,876
Ending Stocks, Total 223 155 90 74 28 570
2023/24 (Proj.) Beginning Stocks 223 155 90 74 28 570
Production 601 468 449 235 59 1,812
Imports 25 65 10 5 40 145
Supply, Total 3/ 849 688 549 314 127 2,527
Food 378 255 160 84 83 960
Seed 27 16 13 6 2 64
Feed and Residual 25 10 90 -5 0 120
Domestic Use 430 281 263 85 85 1,144
Exports 140 230 175 155 25 725
Use, Total 570 511 438 240 110 1,869
Ending Stocks, Total Feb 279 177 111 74 17 658
Ending Stocks, Total Jan 274 177 107 73 17 648
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.
February 2024
WASDE - 645 - 12
U.S. Feed Grain and Corn Supply and Use 1/
2021/22 2022/23 Est. 2023/24 Proj. 2023/24 Proj.

FEED GRAINS
Jan Feb
Million Acres
Area Planted 105.5 100.0 107.5 107.5
Area Harvested 94.1 86.6 96.0 96.0
Metric Tons
Million Metric Tons
Beginning Stocks 34.0 37.5 37.1 37.1
Production 396.0 356.1 402.6 402.6
Imports 2.3 2.9 2.4 2.3
Supply, Total 432.4 396.5 442.1 442.0
Feed and Residual 147.4 142.3 147.6 147.5
Food, Seed & Industrial 177.0 172.1 177.5 177.0
Domestic, Total 324.4 314.4 325.1 324.6
Exports 70.5 45.0 59.3 59.5
Use, Total 394.9 359.4 384.4 384.1
Ending Stocks 37.5 37.1 57.7 58.0
2021/22 2022/23 E st. 2023/24 Proj. 2023/24 Proj.
CORN January February
Million Acres
Area Planted 92.9 88.2 94.6 94.6
Area Harvested 85.0 78.7 86.5 86.5
Bushels
Million Bushels
Beginning Stocks 1,235 1,377 1,360 1,360
Production 15,018 13,651 15,342 15,342
Imports 24 39 25 25
Supply, Total 16,277 15,066 16,727 16,727
Feed and Residual 5,671 5,487 5,675 5,675
Food, Seed & Industrial 2/ 6,757 6,558 6,790 6,780
Ethanol & by-products 3/ 5,320 5,176 5,375 5,375
Domestic, Total 12,427 12,045 12,465 12,455
Exports 2,472 1,661 2,100 2,100
Use, Total 14,900 13,706 14,565 14,555
Ending Stocks 1,377 1,360 2,162 2,172
Avg. Farm Price ($/bu) 4/ 6.00 6.54 4.80 4.80
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 Feed Outlook table 5 or access the data on the Web through the
Feed Grains Database at www.ers.usda.gov/data-products/feed-grains-database.aspx. 3/ Corn processed in ethanol plants to
produce ethanol and by-products including distillers' grains, corn gluten feed, corn gluten meal, and corn oil. 4/ Marketing-
year weighted average price received by farmers.
February 2024
WASDE - 645 - 13
U.S. Sorghum, Barley, and Oats Supply and Use 1/
2021/22 2022/23 Est. 2023/24 Proj. 2023/24 Proj.

SORGHUM
Jan Feb
Million Bushels
Filler Filler Filler Filler Filler
Area Planted (mil. acres) 7.3 6.3 7.2 7.2

Area Harvested (mil. acres) 6.5 4.6 6.1 6.1
Yield (bushels/acre) 69.0 41.1 52.0 52.0
Production 448 188 318 318
Imports 0 0 0 0
Supply, Total 468 235 342 342
Food, Seed & Industrial 45 59 45 35
Total Domestic 125 102 90 80
Exports 296 109 230 240
Use, Total 421 211 320 320
Avg. Farm Price ($/bu) 2/ 5.94 5.94 4.85 4.85
2021/22 2022/23 E st. 2023/24 Proj. 2023/24 Proj.
BARLEY January February

Production 121 174 185 185
Imports 15 24 14 14
Supply, Total 207 235 265 265
Exports 7 2 3 3
Use, Total 170 169 188 188
Avg. Farm Price ($/bu) 2/ 5.31 7.40 7.50 7.50
2021/22 2022/23 E st. 2023/24 Proj. 2023/24 Proj.
OATS January February

Production 40 58 57 57
Imports 81 84 85 80
Supply, Total 159 174 177 172
Exports 3 2 2 2
Use, Total 126 140 138 133
Avg. Farm Price ($/bu) 2/ 4.55 4.57 3.70 3.70
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.
February 2024
WASDE - 645 - 14
U.S. Rice Supply and Use 1/

(Rough Equivalent of Rough and Milled Rice)
2021/22 2022/23 Est. 2023/24 Proj. 2023/24 Proj.
TOTAL RICE
Jan Feb
Million Acres
Area Planted 2.53 2.22 2.89 2.89
Area Harvested
Filler
2.48 2.17 2.85 2.85
Pounds
Yield per Harvested Acre 7,710 7,385 7,649 7,649
Million Hundredweight
Beginning Stocks 2/ 43.7 39.7 30.3 30.3
Production 191.1 160.0 218.3 218.3
Imports 37.8 39.9 42.0 43.0
Supply, Total 272.5 239.7 290.5 291.5
Domestic & Residual 3/ 149.3 145.1 162.0 162.0
Exports, Total 4/ 83.5 64.3 85.0 87.0
Rough 28.2 18.1 31.0 33.0
Milled (rough equiv.) 55.3 46.2 54.0 54.0
Use, Total 232.8 209.4 247.0 249.0
Ending Stocks 39.7 30.3 43.5 42.5
Avg. Milling Yield (%) 5/ 70.00 70.00 70.00 70.00
Avg. Farm Price ($/cwt) 6/
Total
16.10 19.80 18.40 18.40
2021/22 2022/23 E st. 2023/24 Proj. 2023/24 Proj.
LONG-GRAIN RICE January February
Harvested Acres (mil.) 1.93 1.78 2.05 2.05

Yield (pounds/acre) 7,471 7,225 7,524 7,524
Imports 30.7 31.9 35.0 36.0
Production 144.0 128.5 153.9 153.9
Supply, Total 7/ 204.4 185.0 210.0 211.0
Exports 8/ 62.0 49.8 61.0 63.0
Use, Total 179.7 163.8 186.0 188.0
Ending Stocks 24.6 21.2 24.0 23.0
Avg. Farm Price ($/cwt) 6/
Filler
13.60 Filler
16.70 Filler
16.00 Filler
16.00 Filler
2021/22 2022/23 E st. 2023/24 Proj. 2023/24 Proj.
MEDIUM & SHORT-GRAIN RICE January February
Harvested Acres (mil.) 0.55 0.39 0.81 0.81

Yield (pounds/acre) 8,546 8,118 7,963 7,963
Imports 7.1 8.0 7.0 7.0
Production 47.1 31.6 64.4 64.4
Supply, Total 7/ 66.1 52.4 78.2 78.2
Exports 8/ 21.5 14.5 24.0 24.0
Use, Total 53.1 45.6 61.0 61.0
Ending Stocks 13.0 6.8 17.2 17.2
Avg. Farm Price ($/cwt) 1/ 6/ 9/ 26.40 33.80 26.00 26.00
California 10/ 31.90 40.90 30.00 30.00
Other States 1/
Filler
13.90 Filler
18.20 Filler
17.50 Filler
17.50 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 ending stocks by type (in mil. cwt): 2019/20-1.0; 2020/21-2.5;2021/22-2.0. 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. 9/ The California 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 crop year. Therefore, SAFP forecasts based on the average of NASS monthly prices and the final
price may differ. 10/ Marketing year beginning October 1. * For June--Planted acres reported in March 31, 2023, "Prospective Plantings." Harvested acres are
estimated using long run harvested-to-planted ratios by rice class. For July--Planted and harvested area are reported in June 30, 2023 "Acreage" report. Projected yield
is based on by-class trend analysis and planted area.
February 2024
WASDE - 645 - 15
U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/
2021/22 2022/23 Est. 2023/24 Proj. 2023/24 Proj.

SOYBEANS
Jan Feb
Million Acres
Area Planted 87.2 87.5 83.6 83.6
Area Harvested 86.3 86.2 82.4 82.4
Filler
Bushels
Million Bushels
Production 4,464 4,270 4,165 4,165
Imports 16 25 30 30
Supply, Total 4,737 4,569 4,459 4,459
Crushings 2,204 2,212 2,300 2,300
Exports 2,152 1,992 1,755 1,720
Seed 102 97 101 102
Residual 5 4 23 22
Use, Total 4,463 4,305 4,179 4,144
Avg. Farm Price ($/bu) 2/ 13.30 14.20 12.75 12.65
Total
2021/22 2022/23 E st. 2023/24 Proj. 2023/24 Proj.
SOYBEAN OIL January February
Million Pounds
Production 4/ 26,155 26,227 27,025 27,025
Imports 303 376 450 450
Supply, Total 28,589 28,594 29,077 29,077
Domestic Disappearance 24,827 26,614 27,200 27,200
Biofuel 3/ 10,379 12,491 13,000 13,000
Food, Feed & other Industrial 14,449 14,123 14,200 14,200
Exports 1,771 378 300 300
Use, Total 26,598 26,992 27,500 27,500
Ending stocks 1,991 1,602 1,577 1,577
Avg. Price (c/lb) 2/ 72.98 65.26 54.00 51.00
Total
2021/22 2022/23 E st. 2023/24 Proj. 2023/24 Proj.
SOYBEAN MEAL January February
Filler 1 2 3 4
Thousand Short Tons

Production 4/ 51,814 52,493 54,154 54,154
Imports 655 632 600 600
Supply, Total 52,810 53,436 55,125 55,125
Domestic Disappearance 38,959 38,402 39,425 39,425
Exports 13,540 14,664 15,300 15,300
Use, Total 52,499 53,065 54,725 54,725
Avg. Price ($/s.t.) 2/ 439.81 451.91 380.00 380.00
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;
oil, simple average of crude soybean oil, Decatur; meal, simple average of 48 percent protein, Decatur. 3/ Reflects soybean oil used for
biofuels as reported by the U.S. Energy Information Administration. 4/ Based on an October year crush of 2,219 million bushels for
2022/23 and 2,300 million bushels for 2023/24.
February 2024
WASDE - 645 - 16
U.S. Sugar Supply and Use 1/
2021/22 2022/23 Est. 2023/24 Proj. 2023/24 Proj.

Jan Feb
1,000 Short Tons,Raw Value

Production 2/ 9,157 9,250 9,391 9,352
Beet Sugar 5,155 5,187 5,407 5,327
Cane Sugar 4,002 4,063 3,985 4,024
Florida 1,934 1,985 2,037 2,045
Louisiana 1,944 2,001 1,904 1,935
Texas 124 76 44 44
Imports 3,646 3,614 3,310 3,326
TRQ 3/ 1,579 1,862 1,613 1,612
Other Program 4/ 298 141 200 200
Non-program 1,769 1,611 1,497 1,514
Mexico 1,379 1,156 922 799
High-tier tariff/other 390 455 575 715
Total Supply 14,508 14,685 14,544 14,520
Exports 29 82 160 160
Deliveries 12,578 12,589 12,630 12,555
Food 12,470 12,473 12,525 12,450
Other 5/ 107 116 105 105
Miscellaneous 81 171 0 0
Total Use 12,688 12,843 12,790 12,715
Ending Stocks 1,820 1,843 1,754 1,805
Stocks to Use Ratio 14.3 14.3 13.7 14.2
Total
1/ Fiscal years beginning Oct 1. Data and projections correspond to category components from "Sweetener Market Data"
(SMD). 2/ Production projections for 2022/23 and 2023/24 are based on Crop Production and/or processor
projections/industry data and/or sugar ICEC analysis where appropriate. 3/ For 2022/23, WTO raw sugar TRQ shortfall
(161) and for 2023/24 (92). 4/ Composed of sugar under the re-export and polyhydric alcohol programs. 5/ Transfers
accompanying deliveries for sugar-containing products to be exported (SCP) and polyhydric alcohol manufacture (POLY),
and deliveries for livestock feed and ethanol. Total refiner license transfers for SCP and POLY inclusive of WASDE-
reported deliveries: 2021/22 -- 303; estimated 2022/23 -- 304; projected 2023/24 -- 291
Mexico Sugar Supply and Use and High Fructose Corn Syrup Consumption 1/
Beginning Ending
Stocks Production Imports Domestic 2/ Exports Stocks
Sugar 1,000 Metric Tons, Actual Weight

2022/23 Est. Jan 964 5,224 285 4,627 1,011 835
2022/23 Est. Feb 964 5,224 285 4,627 1,011 835
2023/24 Proj. Jan 835 5,016 511 4,648 814 900

2023/24 Proj. Feb 835 4,875 547 4,648 709 900
1/ HFCS consumption by Mexico (1,000 metric tons, dry basis): 2021/22 = 1,320; Estimated 2022/23 = 1,392; Projected
2023/24 = 1,407; Estimated Oct.2023-Dec. 2023 = 337; Estimated Oct.-Dec. 2022 = 345. Footnote source for estimate:
Comite Nacional para el Desarollo Sustentable de la Cana de Azucar. 2/Includes deliveries for consumption, Mexico's
products export program (IMMEX), and Other Deliveries/Ending Year Statistical Adjustments. IMMEX: 2022/23 (405 est
=387 dom.+18 import); 2023/24 (400 proj = 375 dom.+25 import). Statistical Adjustments: 2022/23 (29), 2023/24 (0).
February 2024
WASDE - 645 - 17
U.S. Cotton Supply and Use 1/
2021/22 2022/23 Est. 2023/24 Proj. 2023/24 Proj.

Jan Feb
Area Million Acres

Planted 11.21 13.75 10.23 10.23
Harvested 10.26 7.29 7.06 7.06
Filler
Pounds
Yield per Harvested Acre 820 953 845 845
Million 480 Pound Bales
Production 17.52 14.47 12.43 12.43
Imports 0.01 0.00 0.01 0.01
Supply, Total 20.68 18.52 16.69 16.69
Domestic Use 2.55 2.05 1.90 1.75
Exports, Total 14.48 12.77 12.10 12.30
Use, Total 17.03 14.82 14.00 14.05
Unaccounted 2/ -0.40 -0.55 -0.21 -0.16
Ending Stocks 4.05 4.25 2.90 2.80
Avg. Farm Price 3/ 91.4 84.8 76.0 77.0
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 difference between the previous season's supply less total use and ending
stocks. 3/ Cents per pound for upland cotton.
February 2024
WASDE - 645 - 18
World Wheat Supply and Use 1/

Beginning Domestic Domestic Ending
2021/22 Stocks Production Imports Feed Total 2/ Exports Stocks
World 3/ 283.86 780.05 199.93 160.19 791.16 202.77 272.75
World Less China 144.74 643.11 190.36 125.19 643.16 201.89 135.99
United States 23.00 44.80 2.62 2.40 30.41 21.66 18.36
Total Foreign 260.86 735.25 197.31 157.79 760.75 181.11 254.40
Major Exporters 4/ 34.88 327.13 5.79 76.90 184.20 142.40 41.21
Argentina 2.32 22.15 0.00 0.25 6.55 16.00 1.93
Australia 3.02 36.24 0.21 5.00 8.50 27.51 3.45
Canada 5.95 22.42 0.55 5.15 10.15 15.12 3.66
European Union 5/ 10.70 138.16 4.63 45.00 108.25 31.93 13.31
Russia 11.38 75.16 0.30 18.50 41.75 33.00 12.09
Ukraine 1.51 33.01 0.10 3.00 9.00 18.84 6.77
Major Importers 6/ 177.06 204.04 130.32 54.87 323.89 15.28 172.25
Bangladesh 2.14 1.09 6.34 0.55 8.25 0.00 1.31
Brazil 1.91 7.70 6.39 0.45 11.75 3.07 1.18
China 139.12 136.95 9.57 35.00 148.00 0.88 136.76
Japan 1.04 1.13 5.61 0.75 6.30 0.30 1.18
N. Africa 7/ 11.85 21.28 26.61 1.87 47.02 0.41 12.31
Nigeria 0.79 0.09 6.19 0.05 5.85 0.60 0.62
Sel. Mideast 8/ 10.23 16.51 22.76 3.88 38.83 0.75 9.92
Southeast Asia 9/ 4.45 0.00 27.02 8.50 25.63 1.20 4.64
Selected Other
India 27.80 109.59 0.03 7.00 109.88 8.03 19.50
Kazakhstan 1.48 11.81 2.50 1.35 6.20 8.10 1.49
United Kingdom 1.42 13.99 2.64 7.32 15.32 0.87 1.85
2022/23 Est. Stocks Production Imports Feed Total 2/ Exports Stocks
World 3/ 272.75 789.17 211.48 153.67 790.71 220.17 271.21
World Less China 135.99 651.45 198.19 120.67 642.71 219.23 132.40
United States 18.36 44.90 3.32 2.09 30.42 20.65 15.50
Total Foreign 254.40 744.28 208.16 151.58 760.29 199.52 255.71
Major Exporters 4/ 41.21 335.12 13.21 74.61 182.00 160.78 46.76
Argentina 1.93 12.55 0.00 0.25 6.75 3.66 4.07
Australia 3.45 40.55 0.20 4.50 8.00 31.82 4.37
Canada 3.66 34.34 0.55 4.16 9.30 25.59 3.66
European Union 5/ 13.31 134.19 12.10 44.00 108.00 35.08 16.52
Russia 12.09 92.00 0.30 19.00 42.25 47.50 14.64
Ukraine 6.77 21.50 0.06 2.70 7.70 17.12 3.50
Major Importers 6/ 172.25 206.12 133.35 50.74 320.40 15.13 176.18
Bangladesh 1.31 1.10 5.12 0.20 6.70 0.00 0.83
Brazil 1.18 10.60 4.68 0.55 11.95 2.69 1.82
China 136.76 137.72 13.28 33.00 148.00 0.95 138.82
Japan 1.18 1.06 5.45 0.75 6.25 0.29 1.14
N. Africa 7/ 12.31 17.24 29.12 1.67 46.42 0.77 11.48
Nigeria 0.62 0.11 4.73 0.00 4.70 0.40 0.36
Sel. Mideast 8/ 9.92 17.43 24.60 3.68 39.73 0.65 11.56
Southeast Asia 9/ 4.64 0.00 24.54 7.40 24.15 1.28 3.75
Selected Other
India 19.50 104.00 0.05 6.50 108.68 5.38 9.50
Kazakhstan 1.49 16.40 3.00 1.80 6.75 10.87 3.27
United Kingdom 1.85 15.54 2.02 7.00 15.00 1.91 2.50
1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and exports. 3/
World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting discrepancies in some
countries. 4/ Argentina, Australia, Canada, European Union, Russia, and Ukraine. 5/ Trade excludes intra-trade. 6/ Bangladesh, Brazil,
China, South Korea, Japan, Nigeria, Mexico, Turkey, Egypt, Algeria, Libya, Morocco, Tunisia, Indonesia, Malaysia, Philippines,
Thailand, Vietnam, Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and Oman. 7/ Algeria,
Egypt, Libya, Morocco, and Tunisia. 8/Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and
Oman 9/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam.
February 2024
WASDE - 645 - 19
World Wheat Supply and Use 1/ (Cont'd.)

2023/24 Proj. Stocks Production Imports Feed Total 2/ Exports Stocks
World 3/ Jan 271.56 784.91 209.15 161.06 796.44 209.54 260.03
Feb 271.21 785.74 209.89 160.46 797.52 210.69 259.44
World Less China Jan 132.74 648.32 196.65 124.06 642.94 208.64 126.52
Feb 132.40 649.15 197.89 123.46 644.02 209.79 126.43
United States Jan 15.50 49.31 3.95 3.27 31.41 19.73 17.62
Feb 15.50 49.31 3.95 3.27 31.14 19.73 17.90
Total Foreign Jan 256.06 735.59 205.20 157.79 765.03 189.81 242.41
Feb 255.71 736.43 205.95 157.19 766.38 190.96 241.54
Major Exporters 4/ Jan 46.74 321.15 12.18 77.20 184.50 154.50 41.08
Feb 46.76 321.35 13.19 76.20 183.90 156.50 40.90
Argentina Jan 4.07 15.00 0.00 0.20 6.70 10.00 2.37
Feb 4.07 15.50 0.01 0.20 6.70 10.50 2.38
Australia Jan 4.37 25.50 0.20 4.00 7.50 19.00 3.57
Feb 4.37 25.50 0.20 3.50 7.00 19.50 3.57
Canada Jan 3.64 31.95 0.60 3.50 8.70 24.00 3.50
Feb 3.66 31.95 0.60 3.50 8.70 24.00 3.51
European Union 5/ Jan 16.52 134.30 11.00 45.50 110.00 36.50 15.32
Feb 16.52 134.00 12.00 46.00 110.50 36.50 15.52
Russia Jan 14.64 91.00 0.30 20.00 43.00 51.00 11.94
Feb 14.64 91.00 0.30 20.00 43.00 51.00 11.94
Ukraine Jan 3.50 23.40 0.08 4.00 8.60 14.00 4.38
Feb 3.50 23.40 0.08 3.00 8.00 15.00 3.98
Major Importers 6/ Jan 176.54 206.83 131.32 54.87 327.94 16.45 170.31
Feb 176.18 207.54 129.92 54.87 327.69 16.80 169.16
Bangladesh Jan 0.83 1.10 5.80 0.25 6.75 0.00 0.98
Feb 0.83 1.10 5.80 0.25 6.75 0.00 0.98
Brazil Jan 1.82 8.40 5.60 0.80 12.20 2.50 1.12
Feb 1.82 8.10 5.60 0.80 12.20 2.20 1.12
China Jan 138.82 136.59 12.50 37.00 153.50 0.90 133.51
Feb 138.82 136.59 12.00 37.00 153.50 0.90 133.01
Japan Jan 1.14 1.12 5.50 0.65 6.25 0.30 1.21
Feb 1.14 1.12 5.30 0.65 6.15 0.30 1.11
N. Africa 7/ Jan 12.14 16.73 29.70 1.75 47.30 0.70 10.57
Feb 11.48 16.73 29.40 1.75 47.05 0.70 9.86
Nigeria Jan 0.36 0.12 4.80 0.00 4.60 0.35 0.33
Feb 0.36 0.12 4.80 0.00 4.60 0.35 0.33
Sel. Mideast 8/ Jan 11.36 19.77 22.32 3.32 39.94 0.63 12.89
Feb 11.56 20.77 22.12 3.52 40.24 0.88 13.34
Southeast Asia 9/ Jan 3.75 0.00 25.20 7.10 24.15 1.12 3.68
Feb 3.75 0.00 25.20 7.10 24.15 1.12 3.68
Selected Other
India Jan 9.50 110.55 0.25 6.75 109.90 0.40 10.00
Feb 9.50 110.55 0.25 6.75 111.00 0.30 9.00
Kazakhstan Jan 3.27 12.00 2.00 1.00 5.95 10.00 1.32
Feb 3.27 12.11 2.00 1.00 5.95 10.00 1.43
United Kingdom Jan 2.50 14.30 2.00 6.90 15.00 1.90 1.90
Feb 2.50 14.00 2.10 7.30 15.40 0.80 2.40
1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports
and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and
reporting discrepancies in some countries. 4/ Argentina, Australia, Canada, European Union, Russia, and Ukraine. 5/ Trade
excludes intra-trade. 6/ Bangladesh, Brazil, China, South Korea, Japan, Nigeria, Mexico, Turkey, Egypt, Algeria, Libya,
Morocco, Tunisia, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Lebanon, Iraq, Iran, Israel, Jordan, Kuwait, Saudi
Arabia, Yemen, United Arab Emirates, and Oman. 7/ Algeria, Egypt, Libya, Morocco, and Tunisia. 8/Lebanon, Iraq, Iran,
Israel, Jordan, Kuwait, Saudi Arabia, Yemen, United Arab Emirates, and Oman 9/ Indonesia, Malaysia, Philippines,
Thailand, and Vietnam.
February 2024
WASDE - 645 - 20
World Coarse Grain Supply and Use 1/

World 3/ 323.21 1,500.79 230.11 906.06 1,486.02 253.87 337.98
World Less China 115.75 1,219.94 188.61 678.23 1,165.99 253.86 128.21
United States 34.01 396.30 2.59 147.49 324.91 70.52 37.48
Total Foreign 289.19 1,104.50 227.52 758.57 1,161.11 183.35 300.51
Major Exporters 4/ 19.40 332.29 9.78 138.87 184.88 149.16 27.43
Argentina 2.05 58.64 0.01 12.02 17.84 40.22 2.63
Australia 2.98 19.22 0.00 5.89 7.76 10.83 3.61
Brazil 4.60 120.62 3.25 63.59 75.68 48.30 4.50
Canada 3.63 25.12 6.40 17.50 25.79 5.65 3.71
Russia 1.90 38.54 0.10 22.23 31.11 7.58 1.85
Ukraine 1.65 53.51 0.02 10.63 13.41 32.93 8.84
Major Importers 5/ 36.21 248.24 138.72 285.10 369.66 15.34 38.17
European Union 6/ 14.51 154.84 21.30 117.48 158.27 13.76 18.62
Japan 1.63 0.24 16.51 13.09 16.82 0.00 1.56
Mexico 3.60 32.79 18.56 31.05 50.77 0.25 3.93
N. Afr & Mideast 7/ 7.16 29.05 40.50 60.59 69.40 0.69 6.63
Saudi Arabia 1.33 0.15 8.28 8.02 8.35 0.00 1.41
Southeast Asia 8/ 5.21 30.90 17.31 41.11 49.48 0.64 3.30
South Korea 2.04 0.19 11.62 9.26 11.78 0.00 2.07
Selected Other
China 207.46 280.85 41.50 227.83 320.03 0.01 209.77
2022/23 Est. Beginning
Stocks Productio n Imports
Domestic
Feed
Domestic
Total 2/ Exports
Ending
Stocks
World 3/ 337.98 1,446.34 213.12 888.51 1,454.24 221.05 330.09

World Less China 128.21 1,160.84 180.50 658.56 1,133.09 221.04 123.36
United States 37.48 356.45 3.25 142.41 315.00 45.04 37.14
Total Foreign 300.51 1,089.89 209.87 746.10 1,139.24 176.01 292.95
Major Exporters 4/ 27.43 328.40 4.46 136.45 184.61 146.66 29.02
Argentina 2.63 41.84 0.02 9.10 15.03 27.51 1.95
Australia 3.61 18.84 0.00 5.77 7.65 10.93 3.87
Brazil 4.50 141.60 1.95 67.05 81.19 56.02 10.84
Canada 3.71 30.54 2.18 17.11 24.76 7.95 3.72
Russia 1.85 44.13 0.10 23.68 33.15 10.62 2.32
Ukraine 8.84 33.93 0.02 6.70 9.16 29.92 3.71
Major Importers 5/ 38.17 229.85 136.17 273.56 356.57 13.08 34.54
European Union 6/ 18.62 133.04 25.46 111.61 151.33 11.11 14.68
Japan 1.56 0.24 16.45 13.11 16.80 0.00 1.45
Mexico 3.93 33.88 20.24 32.88 52.75 0.10 5.20
N. Afr & Mideast 7/ 6.63 31.37 33.13 55.60 63.72 1.07 6.34
Saudi Arabia 1.41 0.14 7.61 7.41 7.75 0.00 1.41
Southeast Asia 8/ 3.30 30.93 17.80 39.69 48.20 0.80 3.04
South Korea 2.07 0.16 11.23 9.04 11.55 0.00 1.91
Selected Other
China 209.77 285.50 32.62 229.95 321.15 0.01 206.73
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 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, Australia, Brazil, Canada, Russia, South Africa, and Ukraine. 5/ European Union, Japan, Mexico, selected North Africa and
Middle East, Saudi Arabia, Southeast Asia, and South Korea. 6/ Trade excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya,
Morocco, Syria, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam.
February 2024
WASDE - 645 - 21
World Coarse Grain Supply and Use 1/ (Cont'd.)

World 3/ Jan 330.25 1,513.85 230.19 918.16 1,492.43 240.25 351.67
Feb 330.09 1,510.08 229.22 915.15 1,491.70 240.92 348.47
World Less China Jan 123.55 1,216.70 191.04 679.01 1,162.03 240.22 139.10
Feb 123.36 1,212.94 189.77 675.70 1,161.00 240.89 135.87
Feb 37.14 402.89 2.63 147.65 325.12 59.54 57.99
Total Foreign Jan 293.12 1,110.96 227.48 770.43 1,166.71 180.96 293.94
Feb 292.95 1,107.19 226.59 767.50 1,166.58 181.38 290.48
Feb 29.02 331.04 5.20 139.55 189.05 151.31 24.91
Argentina Jan 1.95 63.28 0.02 11.61 17.77 45.50 1.97
Feb 1.95 63.28 0.02 11.61 17.77 45.50 1.97
Australia Jan 3.87 13.34 0.00 6.11 7.99 7.16 2.06
Feb 3.87 13.34 0.00 5.61 7.49 7.66 2.07
Brazil Jan 10.84 132.33 1.70 68.28 83.31 54.03 7.53
Feb 10.84 129.33 1.73 68.28 83.31 52.06 6.52
Canada Jan 3.72 27.16 3.25 16.81 24.75 6.18 3.19
Feb 3.72 27.16 3.25 17.06 25.00 5.93 3.19
Russia Jan 2.32 42.94 0.10 22.79 31.94 11.36 2.07
Feb 2.32 42.94 0.10 22.79 31.94 11.39 2.04
Ukraine Jan 3.65 37.62 0.02 7.51 9.94 23.17 8.19
Feb 3.71 37.62 0.02 6.81 9.31 25.37 6.68
Feb 34.54 230.11 144.08 280.29 364.11 13.55 31.07
Feb 14.68 134.78 25.10 110.15 150.25 10.66 13.65
Japan Jan 1.45 0.25 17.01 13.34 17.24 0.00 1.47
Feb 1.45 0.25 17.01 13.34 17.24 0.00 1.47
Mexico Jan 5.20 31.31 20.33 33.18 53.18 0.20 3.45
Feb 5.20 30.36 20.33 32.48 52.48 0.20 3.20
N. Afr & Mideast 7/ Jan 6.20 33.32 37.79 61.35 69.54 2.17 5.60
Feb 6.34 33.53 37.79 61.63 69.83 2.07 5.75
Saudi Arabia Jan 1.41 0.15 8.81 8.62 8.96 0.00 1.41
Feb 1.41 0.15 8.41 8.22 8.56 0.00 1.41
Feb 3.04 30.81 18.86 40.40 48.95 0.61 3.13
South Korea Jan 1.91 0.16 11.91 9.54 12.03 0.00 1.95
Feb 1.91 0.16 11.91 9.54 12.03 0.00 1.95
Selected Other
China Jan 206.70 297.14 39.15 239.15 330.40 0.03 212.57
Feb 206.73 297.14 39.45 239.45 330.70 0.03 212.60
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 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, Australia, Brazil, Canada, Russia, South Africa, and Ukraine. 5/ European Union, Japan, Mexico, selected North Africa and
Middle East, Saudi Arabia, Southeast Asia, and South Korea. 6/ Trade excludes intra-trade. 7/ Algeria, Egypt, Iran, Israel, Jordan, Libya,
Morocco, Syria, Tunisia, and Turkey. 8/ Indonesia, Malaysia, Philippines, Thailand, and Vietnam.
February 2024
WASDE - 645 - 22
World Corn Supply and Use 1/

World 3/ 292.94 1,215.93 184.45 743.16 1,198.37 206.64 310.50
World Less China 87.24 943.37 162.57 534.16 907.37 206.63 101.37
United States 31.36 381.47 0.62 144.04 315.67 62.80 34.98
Total Foreign 261.59 834.46 183.84 599.13 882.70 143.83 275.53
Major Exporters 4/ 9.04 238.99 2.67 93.66 116.66 117.60 16.45
Argentina 1.18 49.50 0.01 10.10 14.20 34.69 1.80
Brazil 4.15 116.00 2.60 59.50 70.50 48.28 3.97
Russia 0.75 15.23 0.05 10.00 11.10 4.00 0.93
South Africa 2.12 16.14 0.00 6.86 12.66 3.65 1.95
Ukraine 0.83 42.13 0.02 7.20 8.20 26.98 7.80
Major Importers 5/ 21.60 136.78 94.26 165.82 222.25 6.92 23.47
Egypt 1.36 7.44 9.76 14.50 17.00 0.00 1.56
European Union 6/ 7.83 71.55 19.74 60.00 81.70 6.03 11.39
Japan 1.39 0.01 15.00 11.70 15.04 0.00 1.36
Mexico 3.08 26.76 17.57 25.80 44.00 0.25 3.16
Southeast Asia 7/ 5.21 30.85 16.13 40.10 48.25 0.64 3.29
South Korea 2.02 0.09 11.51 9.22 11.56 0.00 2.06
Selected Other
Canada 2.17 14.61 6.14 12.17 17.98 2.19 2.75
China 205.70 272.55 21.88 209.00 291.00 0.00 209.14
Domestic
Feed
Domestic
/Total 2 Exports
Ending
Stocks
World 3/ 310.50 1,155.94 172.58 728.46 1,166.19 180.99 300.25

World Less China 101.37 878.74 153.87 510.46 867.19 180.98 94.21
United States 34.98 346.74 0.98 139.37 305.95 42.20 34.55
Total Foreign 275.53 809.20 171.60 589.10 860.24 138.79 265.70
Major Exporters 4/ 16.45 231.93 1.39 90.30 115.60 116.72 17.44
Argentina 1.80 35.00 0.02 7.50 11.70 24.00 1.11
Brazil 3.97 137.00 1.30 63.00 76.00 56.00 10.27
Russia 0.93 15.83 0.05 8.90 10.00 5.90 0.91
South Africa 1.95 17.10 0.00 6.90 13.00 3.70 2.35
Ukraine 7.80 27.00 0.02 4.00 4.90 27.12 2.80
Major Importers 5/ 23.47 118.97 95.19 156.95 212.55 5.11 19.98
Egypt 1.56 7.44 6.22 11.20 13.70 0.00 1.51
European Union 6/ 11.39 52.40 23.15 55.00 75.50 4.21 7.23
Japan 1.36 0.01 14.93 11.70 15.00 0.00 1.30
Mexico 3.16 28.08 19.36 27.50 46.00 0.10 4.50
Southeast Asia 7/ 3.29 30.88 16.25 38.35 46.60 0.80 3.03
South Korea 2.06 0.09 11.10 9.00 11.35 0.00 1.90
Selected Other
Canada 2.75 14.54 2.13 9.58 14.93 2.86 1.63
China 209.14 277.20 18.71 218.00 299.00 0.01 206.04
1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports
and exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and
reporting discrepancies in some countries. 4/ Argentina, Brazil, Russia, South Africa and Ukraine. 5/ Egypt, European
Union, Japan, Mexico, Southeast Asia, and South Korea. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines,
Thailand, and Vietnam.
February 2024
WASDE - 645 - 23
World Corn Supply and Use 1/ (Cont'd.)

World 3/ Jan 300.56 1,235.73 190.76 763.73 1,211.07 200.89 325.22
Feb 300.25 1,232.57 189.82 761.75 1,210.76 200.82 322.06
Feb 94.21 943.73 166.82 536.75 904.76 200.80 110.20
Feb 34.55 389.69 0.64 144.15 316.37 53.34 55.17
Feb 265.70 842.88 189.18 617.60 894.39 147.47 266.89
Feb 17.44 243.30 1.29 95.10 121.80 124.70 15.53
Argentina Jan 1.11 55.00 0.02 9.80 14.10 41.00 1.03
Feb 1.11 55.00 0.02 9.80 14.10 41.00 1.03
Brazil Jan 10.27 127.00 1.20 63.50 77.50 54.00 6.97
Feb 10.27 124.00 1.20 63.50 77.50 52.00 5.97
Russia Jan 0.91 17.00 0.05 10.50 11.60 5.30 1.06
Feb 0.91 17.00 0.05 10.50 11.60 5.30 1.06
South Africa Jan 2.25 16.80 0.00 7.30 13.60 3.40 2.05
Feb 2.35 16.80 0.00 7.30 13.60 3.40 2.15
Ukraine Jan 2.80 30.50 0.02 4.50 5.50 21.00 6.82
Feb 2.80 30.50 0.02 4.00 5.00 23.00 5.32
Feb 19.98 123.24 100.95 164.70 221.05 5.01 18.11
Egypt Jan 1.51 7.20 8.50 13.30 15.80 0.00 1.41
Feb 1.51 7.20 8.50 13.30 15.80 0.00 1.41
Feb 7.23 60.10 23.00 58.00 78.90 4.20 7.23
Japan Jan 1.30 0.01 15.50 12.00 15.50 0.00 1.31
Feb 1.30 0.01 15.50 12.00 15.50 0.00 1.31
Mexico Jan 4.50 25.50 19.60 28.00 46.60 0.20 2.80
Feb 4.50 25.00 19.60 27.70 46.30 0.20 2.60
Feb 3.03 30.76 17.95 39.70 48.00 0.61 3.13
South Korea Jan 1.90 0.09 11.80 9.50 11.85 0.00 1.94
Feb 1.90 0.09 11.80 9.50 11.85 0.00 1.94
Selected Other
Canada Jan 1.63 15.08 3.20 10.50 16.00 1.80 2.10
Feb 1.63 15.08 3.20 10.50 16.00 1.80 2.10
China Jan 206.04 288.84 23.00 225.00 306.00 0.02 211.86
Feb 206.04 288.84 23.00 225.00 306.00 0.02 211.86
1/ Aggregate of local marketing years. 2/ Total foreign and world use adjusted to reflect the differences in world imports and
exports. 3/ World imports and exports may not balance due to differences in marketing years, grain in transit, and reporting
discrepancies in some countries. 4/ Argentina, Brazil, Russia, South Africa and Ukraine. 5/ Egypt, European Union, Japan,
Mexico, Southeast Asia, and South Korea. 6/ Trade excludes intra-trade. 7/ Indonesia, Malaysia, Philippines, Thailand, and
Vietnam.
February 2024
WASDE - 645 - 24
World Rice Supply and Use (Milled Basis) 1/

Beginning Production Imports Total /2 Exports Ending
2021/22 Stocks Domestic Stocks
World 3/ 187.81 513.10 54.48 517.62 56.90 183.28
World Less China 71.31 364.11 48.53 361.26 54.82 70.28
United States 1.39 6.07 1.20 4.74 2.65 1.26
Total Foreign 186.42 507.03 53.28 512.88 54.25 182.02
Major Exporters 4/ 47.32 197.74 1.76 158.55 43.91 44.36
Burma 1.31 12.40 0.00 10.50 2.34 0.88
India 37.00 129.47 0.00 110.45 22.03 34.00
Pakistan 1.89 9.32 0.01 3.70 4.82 2.70
Thailand 4.38 19.88 0.05 12.50 7.68 4.13
Vietnam 2.74 26.67 1.70 21.40 7.05 2.66
Major Importers 5/ 126.70 242.03 22.46 263.16 2.54 125.49
China 116.50 148.99 5.95 156.36 2.08 113.00
European Union 6/ 0.68 1.73 2.41 3.50 0.41 0.91
Indonesia 3.06 34.40 0.74 35.30 0.00 2.90
Nigeria 1.69 5.26 2.45 7.35 0.00 2.05
Philippines 2.36 12.54 3.60 15.40 0.00 3.10
Sel. Mideast 7/ 0.83 2.18 4.35 6.20 0.00 1.16
Selected Other
Brazil 1.17 7.34 0.93 7.15 1.39 0.90
C. Amer & Carib 8/ 0.57 1.62 1.68 3.27 0.04 0.57
Egypt 1.16 2.90 0.61 4.05 0.01 0.61
Japan 1.94 7.64 0.69 8.20 0.12 1.95
Mexico 0.20 0.18 0.74 0.97 0.01 0.14
South Korea 1.02 3.88 0.44 3.95 0.05 1.33

Total /2
Domestic Exports
Ending
Stocks
World 3/ 183.28 512.96 55.07 519.89 54.28 176.35

World Less China 70.28 367.01 50.68 364.90 52.54 69.75
United States 1.26 5.08 1.27 4.61 2.04 0.96
Total Foreign 182.02 507.87 53.80 515.29 52.23 175.38
Major Exporters 4/ 44.36 200.90 1.86 162.21 42.55 42.37
Burma 0.88 11.80 0.01 10.20 1.58 0.91
India 34.00 135.76 0.00 114.51 20.25 35.00
Pakistan 2.70 5.50 0.01 3.60 3.76 0.84
Thailand 4.13 20.91 0.05 12.50 8.74 3.85
Vietnam 2.66 26.94 1.80 21.40 8.23 1.77
Major Importers 5/ 125.49 238.73 23.41 263.94 2.16 121.52
China 113.00 145.95 4.38 154.99 1.74 106.60
European Union 6/ 0.91 1.34 2.30 3.35 0.39 0.81
Indonesia 2.90 34.00 3.50 35.70 0.00 4.70
Nigeria 2.05 5.36 2.28 7.50 0.00 2.18
Philippines 3.10 12.63 3.75 16.00 0.00 3.48
Sel. Mideast 7/ 1.16 2.01 4.47 6.35 0.00 1.28
Selected Other
Brazil 0.90 7.00 1.00 7.00 1.20 0.70
C. Amer & Carib 8/ 0.57 1.54 1.96 3.38 0.05 0.64
Egypt 0.61 3.60 0.39 4.00 0.01 0.60
Japan 1.95 7.48 0.66 8.20 0.12 1.77
Mexico 0.14 0.14 0.78 0.98 0.00 0.09
South Korea 1.33 3.76 0.26 3.95 0.06 1.35
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/ Burma,
India, Pakistan, Thailand, and Vietnam. 5/ Bangladesh, China, Nigeria, European Union, Philippines, Cote d’Ivoire, Indonesia, Iran, Iraq, and Saudi
Arabia. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi Arabia. 8/ Central American and Caribbean countries.
February 2024
WASDE - 645 - 25
World Rice Supply and Use (Milled Basis) 1/ (Cont'd.)

Beginning Production Imports Total /2 Exports Ending
2023/24 Proj. Stocks Domestic Stocks
World 3/ Jan 175.81 513.54 49.69 522.10 51.50 167.25
Feb 176.35 513.74 49.23 522.90 51.62 167.18
World Less China Jan 69.21 368.92 46.99 372.18 49.50 65.25
Feb 69.75 369.12 47.13 372.98 49.62 65.78
United States Jan 0.96 6.93 1.33 5.14 2.70 1.38
Feb 0.96 6.93 1.37 5.14 2.76 1.35
Total Foreign Jan 174.85 506.61 48.35 516.96 48.80 165.87
Feb 175.38 506.80 47.87 517.75 48.85 165.83
Major Exporters 4/ Jan 42.31 199.95 1.46 165.60 38.60 39.51
Feb 42.37 199.95 1.51 165.60 38.70 39.53
Burma Jan 0.98 11.95 0.00 10.25 1.80 0.89
Feb 0.91 11.95 0.00 10.25 1.80 0.81
India Jan 35.00 132.00 0.00 118.00 16.00 33.00
Feb 35.00 132.00 0.00 118.00 16.00 33.00
Pakistan Jan 0.84 9.00 0.01 3.65 5.00 1.20
Feb 0.84 9.00 0.01 3.65 5.10 1.10
Thailand Jan 3.89 20.00 0.05 12.50 8.20 3.24
Feb 3.85 20.00 0.10 12.50 8.20 3.25
Vietnam Jan 1.60 27.00 1.40 21.20 7.60 1.20
Feb 1.77 27.00 1.40 21.20 7.60 1.37
Major Importers 5/ Jan 121.17 236.82 20.00 259.97 2.46 115.57
Feb 121.52 236.72 19.80 260.32 2.46 115.27
China Jan 106.60 144.62 2.70 149.92 2.00 102.00
Feb 106.60 144.62 2.10 149.92 2.00 101.40
European Union 6/ Jan 0.81 1.43 2.40 3.40 0.40 0.84
Feb 0.81 1.43 2.40 3.40 0.40 0.84
Indonesia Jan 4.40 33.50 2.50 35.80 0.00 4.60
Feb 4.70 33.50 2.90 36.00 0.00 5.10
Nigeria Jan 2.18 5.23 2.10 7.70 0.00 1.80
Feb 2.18 5.23 1.90 7.60 0.00 1.70
Philippines Jan 3.48 12.60 3.80 16.40 0.00 3.48
Feb 3.48 12.50 3.90 16.50 0.00 3.38
Sel. Mideast 7/ Jan 1.23 2.02 4.55 6.60 0.00 1.20
Feb 1.28 2.02 4.65 6.75 0.00 1.20
Selected Other
Brazil Jan 0.70 7.48 0.90 7.00 1.30 0.78
Feb 0.70 7.48 0.90 7.00 1.30 0.78
C. Amer & Carib 8/ Jan 0.65 1.52 1.82 3.32 0.04 0.63
Feb 0.64 1.52 1.82 3.31 0.04 0.64
Egypt Jan 0.60 3.78 0.35 4.10 0.01 0.63
Feb 0.60 3.78 0.35 4.10 0.01 0.63
Japan Jan 1.77 7.30 0.69 8.06 0.12 1.57
Feb 1.77 7.30 0.69 8.06 0.12 1.57
Mexico Jan 0.08 0.15 0.83 0.98 0.01 0.07
Feb 0.09 0.15 0.83 0.98 0.01 0.08
South Korea Jan 1.35 3.70 0.46 3.93 0.10 1.48
Feb 1.35 3.70 0.46 3.93 0.10 1.48
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/ Burma, India, Pakistan, Thailand, and Vietnam. 5/ Bangladesh, China, Nigeria, European Union, Philippines, Cote
d’Ivoire, Indonesia, Iran, Iraq, and Saudi Arabia. 6/ Trade excludes intra-trade. 7/ Selected Middle East includes Iran, Iraq, and Saudi
Arabia. 8/ Central American and Caribbean countries.
February 2024
WASDE - 645 - 26
World Cotton Supply and Use 1/

(Million 480-Pound Bales)
Beginning Production Imports Domestic Exports Loss Ending
2021/22 Stocks Use /2 Stocks
World 77.67 114.49 42.96 116.11 43.19 -0.60 76.42
World Less China 40.38 87.69 35.12 82.36 43.07 -0.60 38.36
United States 3.15 17.52 0.01 2.55 14.48 -0.40 4.05
Total Foreign 74.52 96.96 42.96 113.56 28.71 -0.20 72.37
Major Exporters 4/ 25.73 54.43 1.70 34.28 24.46 -0.20 23.32
Central Asia 5/ 3.07 5.03 0.06 4.24 1.47 0.00 2.46
Afr. Fr. Zone 6/ 1.68 5.98 3/ 0.10 6.43 -0.01 1.14
S. Hemis. 7/ 8.77 18.71 0.19 4.38 12.47 -0.19 11.00
Australia 2.51 5.85 3/ 0.01 3.58 -0.19 4.96
Brazil 4.07 10.82 0.02 3.30 7.73 0.00 3.88
India 11.84 24.30 1.00 25.00 3.74 0.00 8.40
Major Importers 8/ 46.49 39.65 38.94 75.47 2.94 0.00 46.67
Mexico 0.44 1.22 0.96 1.90 0.40 0.00 0.32
China 37.29 26.80 7.84 33.75 0.12 0.00 38.06
European Union 9/ 0.37 1.67 0.64 0.62 1.77 0.00 0.30
Turkey 1.76 3.80 5.52 8.60 0.57 0.00 1.92
Pakistan 2.18 6.00 4.50 10.70 0.05 0.00 1.93
Indonesia 0.50 3/ 2.58 2.60 0.01 0.00 0.46
Thailand 0.13 3/ 0.75 0.74 0.00 0.00 0.15
Bangladesh 2.48 0.15 8.45 8.80 0.00 0.00 2.28
Vietnam 1.09 3/ 6.63 6.70 0.00 0.00 1.02
Domestic
Use Exports
Loss
/2
Ending
Stocks
World 76.42 116.26 37.69 111.16 36.96 -0.72 82.97

World Less China 38.36 85.56 31.46 73.66 36.87 -0.72 45.56
United States 4.05 14.47 3/ 2.05 12.77 -0.55 4.25
Total Foreign 72.37 101.79 37.69 109.11 24.20 -0.18 78.72
Major Exporters 4/ 23.32 55.83 2.40 31.94 19.92 -0.19 29.89
Central Asia 5/ 2.46 5.64 0.03 3.56 1.12 0.00 3.44
Afr. Fr. Zone 6/ 1.14 4.02 3/ 0.10 3.88 0.00 1.19
S. Hemis. 7/ 11.00 19.32 0.14 4.21 13.37 -0.19 13.08
Australia 4.96 5.80 3/ 0.01 6.17 -0.19 4.77
Brazil 3.88 11.72 0.01 3.20 6.66 0.00 5.76
India 8.40 26.30 1.73 23.50 1.10 0.00 11.82
Major Importers 8/ 46.67 42.88 32.86 73.52 3.01 0.02 45.87
Mexico 0.32 1.58 0.69 1.75 0.41 0.00 0.43
China 38.06 30.70 6.23 37.50 0.09 0.00 37.40
European Union 9/ 0.30 1.64 0.52 0.55 1.52 0.00 0.39
Turkey 1.92 4.90 4.19 7.50 0.86 0.02 2.63
Pakistan 1.93 3.90 4.50 8.70 0.10 0.00 1.53
Indonesia 0.46 3/ 1.66 1.75 0.02 0.00 0.36
Thailand 0.15 3/ 0.66 0.68 0.00 0.00 0.14
Bangladesh 2.28 0.15 7.00 7.70 0.00 0.00 1.73
Vietnam 1.02 3/ 6.47 6.45 0.00 0.00 1.05
1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other factors. 2/
Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, China, and the United States, reflects the
difference between implicit stocks based on supply less total use and indicated ending stocks. 3/ Less than 5,000 bales. 4/ Includes Egypt
and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and
Uzbekistan. 6/ Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/
Argentina, Australia, Brazil, Lesotho, South Africa, Tanzania, Zambia, and Zimbabwe. 8/ In addition to the countries and regions listed,
includes Japan, Russia, South Korea, and Taiwan. 9/ Includes intra-EU trade.
February 2024
WASDE - 645 - 27
World Cotton Supply and Use 1/

(Million 480-Pound Bales)
Beginning Production Imports Domestic Exports Loss Ending
2023/24 Proj. Stocks Use /2 Stocks
World Jan 83.22 113.18 43.05 112.43 43.05 -0.41 84.38
Feb 82.97 112.82 42.88 112.46 42.87 -0.36 83.70
World Less China Jan 45.81 85.68 31.55 75.93 42.96 -0.41 44.57
Feb 45.56 85.32 30.88 75.46 42.82 -0.36 43.84
United States Jan 4.25 12.43 0.01 1.90 12.10 -0.21 2.90
Feb 4.25 12.43 0.01 1.75 12.30 -0.16 2.80
filler filler filler filler filler filler filler
Total Foreign Jan 78.97 100.75 43.05 110.53 30.95 -0.20 81.48
Feb 78.72 100.39 42.87 110.71 30.57 -0.20 80.90
Major Exporters 4/ Jan 30.14 57.73 2.04 32.82 26.52 -0.20 30.78
Feb 29.89 57.45 1.74 32.82 26.07 -0.20 30.39
Central Asia 5/ Jan 3.46 5.18 0.08 3.99 1.38 0.00 3.35
Feb 3.44 5.18 0.08 3.99 1.38 0.00 3.34
Afr. Fr. Zone 6/ Jan 1.19 4.92 3/ 0.10 4.58 0.00 1.43
Feb 1.19 4.93 3/ 0.10 4.63 0.00 1.39
S. Hemis. 7/ Jan 13.32 22.16 0.17 4.36 18.64 -0.20 12.84
Feb 13.08 21.86 0.17 4.36 18.14 -0.20 12.81
Australia Jan 4.77 5.10 3/ 0.01 5.75 -0.20 4.31
Feb 4.77 4.80 3/ 0.01 5.65 -0.20 4.11
filler filler filler filler filler filler filler
Brazil Jan 5.76 14.56 0.02 3.30 11.50 0.00 5.54

Feb 5.76 14.56 0.02 3.30 11.20 0.00 5.84
India Jan 11.82 25.00 1.30 23.70 1.60 0.00 12.82
Feb 11.82 25.00 1.00 23.70 1.60 0.00 12.52
Feb 45.87 39.54 38.60 74.04 2.68 0.00 47.29
Mexico Jan 0.43 0.93 0.75 1.55 0.25 0.00 0.30
Feb 0.43 0.93 0.70 1.50 0.25 0.00 0.30
China Jan 37.40 27.50 11.50 36.50 0.09 0.00 39.81
Feb 37.40 27.50 12.00 37.00 0.05 0.00 39.85
Feb 0.39 1.05 0.56 0.59 1.13 0.00 0.29
Turkey Jan 2.63 3.20 4.10 7.40 1.05 0.00 1.48
Feb 2.63 3.20 4.00 7.20 1.15 0.00 1.48
Pakistan Jan 1.53 6.70 3.80 9.80 0.08 0.00 2.15
Feb 1.53 6.70 3.60 9.80 0.08 0.00 1.95
Indonesia Jan 0.36 3/ 2.00 1.90 0.02 0.00 0.45
Feb 0.36 3/ 2.00 1.90 0.02 0.00 0.45
Thailand Jan 0.14 3/ 0.63 0.63 0.00 0.00 0.14
Feb 0.14 3/ 0.53 0.53 0.00 0.00 0.14
Bangladesh Jan 1.73 0.16 7.50 7.80 0.00 0.00 1.59
Feb 1.73 0.16 7.50 7.80 0.00 0.00 1.59
Vietnam Jan 1.05 3/ 6.70 6.70 0.00 0.00 1.05
Feb 1.05 3/ 6.80 6.80 0.00 0.00 1.05
1/ Marketing year beginning August 1. Totals may not add exactly and trade may not balance due to rounding and other
factors. 2/ Generally reflects cotton lost or destroyed in the marketing channel; for Australia, Brazil, China, and the
United States, reflects the difference between implicit stocks based on supply less total use and indicated ending stocks. 3/
Less than 5,000 bales. 4/ Includes Egypt and Syria in addition to the countries and regions listed. 5/ Azerbaijan, Kazakhstan,
Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. 6/ Benin, Burkina Faso, Cameroon, Central African Republic, Chad,
Cote d'Ivoire, Mali, Niger, Senegal, and Togo. 7/ Argentina, Australia, Brazil, Lesotho, South Africa, Tanzania, Zambia, and
Zimbabwe. 8/ In addition to the countries and regions listed, includes Japan, Russia, South Korea, and Taiwan. 9/ Includes
intra-EU trade.
February 2024
WASDE - 645 - 28
World Soybean Supply and Use 1/

Beginning Production Imports Domestic Domestic Exports Ending
2021/22 Stocks Crush Total Stocks
World 2/ 100.27 360.41 155.51 314.50 363.94 154.22 98.03
World Less China 69.41 344.02 65.01 226.60 255.54 154.12 68.78
United States 6.99 121.50 0.43 59.98 62.89 58.57 7.47
Total Foreign 93.27 238.91 155.08 254.52 301.05 95.65 90.56
Major Exporters 3/ 55.39 181.82 4.43 91.83 102.47 87.25 51.93
Argentina 25.06 43.90 3.84 38.83 46.04 2.86 23.90
Brazil 29.58 130.50 0.54 50.71 53.96 79.06 27.60
Paraguay 0.48 4.18 0.04 2.20 2.25 2.27 0.18
Major Importers 4/ 34.24 20.29 122.72 116.74 144.72 0.42 32.11
China 30.86 16.40 90.50 87.90 108.40 0.10 29.25
European Union 1.56 2.83 14.54 15.40 16.97 0.29 1.68
Southeast Asia 5/ 1.19 0.53 8.26 4.45 9.33 0.02 0.64
Mexico 0.46 0.29 5.96 6.35 6.40 0.00 0.30
Domestic
Crush
Domestic
Total Exports
Ending
Stocks
World 2/ 98.03 378.06 164.38 314.21 364.94 171.96 103.57

World Less China 68.78 357.77 63.53 219.21 248.44 171.87 69.78
United States 7.47 116.22 0.67 60.20 62.96 54.21 7.19
Total Foreign 90.56 261.84 163.71 254.01 301.98 117.75 96.38
Major Exporters 3/ 51.93 197.75 9.26 86.91 97.18 106.99 54.78
Argentina 23.90 25.00 9.06 30.32 36.57 4.19 17.21
Brazil 27.60 162.00 0.15 53.10 56.90 95.51 37.35
Paraguay 0.18 10.05 0.01 3.45 3.58 6.50 0.17
Major Importers 4/ 32.11 23.74 131.98 122.47 151.41 0.33 36.08
China 29.25 20.28 100.85 95.00 116.50 0.09 33.79
European Union 1.68 2.55 13.11 14.30 15.88 0.23 1.22
Southeast Asia 5/ 0.64 0.49 8.25 3.92 8.70 0.01 0.67
Mexico 0.30 0.18 6.44 6.65 6.70 0.00 0.22
Beginning Productio n Imports Domestic Domestic Exports Ending
Stocks Crush Total Stocks
2023/24 Proj.
World 2/ Jan 101.87 398.98 168.35 329.40 383.66 170.94 114.60
Feb 103.57 398.21 167.85 329.29 383.03 170.57 116.03
Feb 69.78 377.37 65.85 231.29 262.53 170.47 80.00
Feb 7.19 113.34 0.82 62.60 65.97 46.81 8.57
Feb 96.38 284.87 167.03 266.70 317.06 123.76 107.46
Feb 54.78 219.20 6.58 92.85 104.14 113.30 63.12
Argentina Jan 17.21 50.00 6.10 35.50 42.75 4.60 25.96
Feb 17.21 50.00 6.10 35.50 42.75 4.60 25.96
Brazil Jan 35.35 157.00 0.45 53.75 57.50 99.50 35.80
Feb 37.35 156.00 0.45 53.75 57.50 100.00 36.30
Paraguay Jan 0.21 10.30 0.02 3.50 3.65 6.30 0.58
Feb 0.17 10.30 0.02 3.50 3.65 6.30 0.54
Feb 36.08 24.76 135.34 126.63 157.04 0.42 38.72
China Jan 33.79 20.84 102.00 98.00 120.50 0.10 36.03
Feb 33.79 20.84 102.00 98.00 120.50 0.10 36.03
European Union Jan 1.32 3.06 13.80 15.00 16.59 0.30 1.29
Feb 1.22 3.06 13.80 14.90 16.49 0.30 1.29
Feb 0.67 0.47 9.64 4.63 9.81 0.02 0.95
Mexico Jan 0.22 0.14 6.40 6.48 6.54 0.00 0.22
Feb 0.22 0.14 6.40 6.48 6.54 0.00 0.22
1/ Data based on local marketing years except Argentina and Brazil which are adjusted to an October-September year. 2/ World imports
and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports.
Therefore, world supply may not equal world use. 3/ Includes Uruguay 4/ Includes Japan 5/ Indonesia, Malaysia, Philippines, Vietnam,
and Thailand. Totals may not add due to rounding.
February 2024
WASDE - 645 - 29
World Soybean Meal Supply and Use 1/

Beginning Production Imports Domestic Exports Ending
2021/22 Stocks Total Stocks
World 2/ 16.13 246.75 67.15 244.64 68.83 16.57
World Less China 15.35 177.14 67.10 175.01 68.34 16.23
United States 0.31 47.01 0.59 35.34 12.28 0.28
Total Foreign 15.82 199.75 66.56 209.30 56.54 16.29
Major Exporters 3/ 6.95 76.39 0.79 29.30 47.74 7.10
Argentina 2.29 30.29 0.14 3.33 26.59 2.80
Brazil 4.47 39.31 0.01 19.70 20.21 3.88
India 0.19 6.80 0.65 6.27 0.94 0.42
Major Importers 4/ 2.00 22.60 38.39 59.60 1.12 2.28
European Union 0.56 12.17 16.54 27.84 0.76 0.66
Mexico 0.20 5.02 1.83 6.88 0.02 0.15
Southeast Asia 5/ 1.18 3.47 18.33 21.28 0.33 1.37
China 0.78 69.62 0.06 69.63 0.48 0.34
Domestic
Total Exports
Ending
Stocks
World 2/ 16.57 247.05 62.66 245.43 67.22 13.64

World Less China 16.23 171.81 62.62 171.48 66.42 12.76
United States 0.28 47.62 0.57 34.84 13.30 0.34
Total Foreign 16.29 199.43 62.09 210.59 53.92 13.30
Major Exporters 3/ 7.10 73.03 0.10 30.35 43.96 5.92
Argentina 2.80 23.65 0.07 3.40 20.75 2.36
Brazil 3.88 41.14 0.01 20.30 21.34 3.39
India 0.42 8.24 0.03 6.65 1.87 0.17
Major Importers 4/ 2.28 21.57 36.54 57.84 0.98 1.57
European Union 0.66 11.30 16.01 26.79 0.74 0.44
Mexico 0.15 5.26 1.67 6.93 0.00 0.15
Southeast Asia 5/ 1.37 3.05 17.32 20.57 0.24 0.94
China 0.34 75.24 0.04 73.95 0.80 0.88
Beginning Productio n Imports Domestic Exports Ending
Stocks Total Stocks
2023/24 Proj.
World 2/ Jan 13.70 258.59 66.70 253.73 69.84 15.42
Feb 13.64 258.52 66.77 253.72 70.05 15.15
Feb 12.76 180.90 66.72 176.97 69.05 14.36
Feb 0.34 49.13 0.54 35.77 13.88 0.36
Feb 13.30 209.39 66.22 217.96 56.17 14.79
Feb 5.92 77.75 0.07 31.33 46.10 6.31
Argentina Jan 2.36 27.69 0.01 3.48 24.40 2.19
Feb 2.36 27.69 0.01 3.48 24.40 2.19
Brazil Jan 3.39 41.66 0.01 20.70 20.50 3.86
Feb 3.39 41.66 0.01 20.70 20.50 3.86
India Jan 0.17 8.00 0.05 6.98 1.00 0.25
Feb 0.17 8.40 0.05 7.16 1.20 0.27
Feb 1.57 22.48 37.95 58.99 1.01 2.00
European Union Jan 0.45 11.85 15.80 26.89 0.70 0.51
Feb 0.44 11.77 15.80 26.84 0.70 0.46
Mexico Jan 0.15 5.12 2.05 7.13 0.00 0.19
Feb 0.15 5.12 2.05 7.13 0.00 0.19
Southeast Asia 5/ Jan 1.09 4.00 18.40 21.63 0.31 1.56
Feb 0.94 3.61 18.50 21.46 0.31 1.29
China Jan 0.88 77.62 0.05 76.75 1.00 0.79
Feb 0.88 77.62 0.05 76.75 1.00 0.79
1/ Data based on local marketing years except for Argentina and Brazil which are adjusted to an October-September year. 2/ World
imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports.
Therefore, world supply may not equal world use. 3/ Argentina, Brazil, and India. 4/ Includes Japan. 5/ Indonesia, Malaysia, Philippines,
Vietnam, and Thailand. Totals may not add due to rounding.
February 2024
WASDE - 645 - 30
World Soybean Oil Supply and Use 1/

Beginning Production Imports Domestic Exports Ending
2021/22 Stocks Total Stocks
World 2/ 5.53 59.27 11.54 59.22 12.32 4.79
World Less China 4.41 43.52 11.25 42.52 12.21 4.44
United States 0.97 11.86 0.14 11.26 0.80 0.90
Total Foreign 4.56 47.41 11.40 47.96 11.52 3.89
Major Exporters 3/ 1.25 20.77 0.59 12.49 8.62 1.50
Argentina 0.30 7.66 0.09 2.66 4.87 0.52
Brazil 0.47 9.76 0.03 7.45 2.41 0.41
European Union 0.44 2.93 0.46 2.31 0.97 0.55
Major Importers 4/ 1.78 18.90 6.64 26.16 0.28 0.89
China 1.12 15.75 0.29 16.70 0.11 0.35
India 0.27 1.53 4.23 5.83 0.02 0.19
North Africa 5/ 0.37 1.19 1.42 2.53 0.13 0.32
Domestic
Total Exports
Ending
Stocks
World 2/ 4.79 59.18 10.66 58.05 11.64 4.94

World Less China 4.44 42.16 10.25 41.30 11.53 4.02
United States 0.90 11.90 0.17 12.07 0.17 0.73
Total Foreign 3.89 47.28 10.49 45.98 11.47 4.21
Major Exporters 3/ 1.50 19.59 0.65 12.15 8.27 1.32
Argentina 0.52 5.99 0.00 2.05 4.14 0.33
Brazil 0.41 10.23 0.03 7.68 2.69 0.30
European Union 0.55 2.72 0.62 2.36 0.92 0.61
Major Importers 4/ 0.89 20.01 6.35 25.27 0.21 1.77
China 0.35 17.02 0.41 16.75 0.12 0.92
India 0.19 1.85 3.97 5.40 0.01 0.60
North Africa 5/ 0.32 0.86 1.29 2.16 0.08 0.24
Beginning Productio n Imports Domestic Exports Ending
Stocks Total Stocks
2023/24 Proj.
World 2/ Jan 4.96 61.91 10.77 60.78 11.53 5.34
Feb 4.94 61.89 10.75 60.72 11.52 5.34
Feb 4.02 44.33 10.35 43.02 11.32 4.35
Feb 0.73 12.26 0.20 12.34 0.14 0.72
Feb 4.21 49.63 10.54 48.39 11.38 4.62
Feb 1.32 20.86 0.43 13.25 8.10 1.25
Argentina Jan 0.33 7.01 0.00 2.25 4.75 0.34
Feb 0.33 7.01 0.00 2.25 4.75 0.34
Brazil Jan 0.30 10.35 0.03 8.43 1.85 0.40
Feb 0.30 10.35 0.03 8.43 1.85 0.40
European Union Jan 0.62 2.85 0.40 2.51 0.90 0.46
Feb 0.61 2.83 0.40 2.51 0.90 0.44
Feb 1.77 20.79 5.87 26.18 0.28 1.97
China Jan 0.92 17.56 0.40 17.70 0.20 0.98
Feb 0.92 17.56 0.40 17.70 0.20 0.98
India Jan 0.60 1.80 3.30 5.10 0.02 0.58
Feb 0.60 1.89 3.30 5.15 0.02 0.62
North Africa 5/ Jan 0.24 1.01 1.44 2.34 0.05 0.30
Feb 0.24 1.01 1.44 2.34 0.05 0.30
1/ Data based on local marketing years except for Argentina and Brazil which are adjusted to an October-September year. 2/ World
imports and exports may not balance due to differences in local marketing years and to time lags between reported exports and imports.
Therefore, world supply may not equal world use. 3/ Includes Paraguay 4/ Includes Bangladesh 5/ Algeria, Egypt, Morocco, and
Tunisia. Totals may not add due to rounding.
February 2024
WASDE - 645 - 31
U.S. Quarterly Animal Product Production 1/
Year and Quarter Beef Pork Red Meat Broiler Turkey Total Red Meat Egg Milk
2/ Poultry 3/ & Poultry
Million Pounds Mil doz Bil lbs
2022 Annual 28,291 26,996 55,471 46,206 5,222 51,997 107,469 9,074 226.4
2023 I 6,821 7,071 13,937 11,549 1,348 13,039 26,976 2,209 56.9
II 6,710 6,593 13,348 11,545 1,410 13,105 26,453 2,287 58.1
III 6,621 6,488 13,151 11,679 1,354 13,183 26,334 2,327 56.1
IV 6,812 7,149 14,006 11,610 1,342 13,089 27,095 2,363 55.6
Annual
Jan Est. 26,967 27,302 54,447 46,423 5,462 52,467 106,914 9,189 226.6
Feb Est. 26,963 27,301 54,442 46,383 5,455 52,416 106,858 9,187 226.6
2024 I* 6,720 7,130 13,895 11,550 1,310 13,000 26,895 2,270 57.2
II* 6,540 6,625 13,210 11,675 1,325 13,145 26,355 2,300 58.2
III* 6,495 6,765 13,305 11,850 1,360 13,355 26,660 2,345 56.6
IV* 6,430 7,360 13,837 11,700 1,400 13,240 27,077 2,390 56.2
Annual
Jan Proj. 26,110 27,970 54,262 46,675 5,470 52,710 106,972 9,325 228.3
Feb Proj. 26,185 27,880 54,246 46,775 5,395 52,740 106,986 9,305 228.2
* Projection. 1/ Commercial production for red meats; federally inspected for poultry meats. 2/ Beef, pork, veal and lamb & mutton. 3/
Broilers, turkeys and mature chicken.
U.S. Quarterly Prices for Animal Products

Steers Barrows Broilers Turkeys Eggs Milk
Year and Quarter 2/ and gilts 4/ 5/ 6/ 7/
3/
Dol./cwt Dol./cwt Cents/lb. Cents/lb. Cents/doz. Dol./cwt
2022 Annual 144.40 71.21 140.5 154.5 282.4 25.34
2023 I 160.92 54.83 124.5 170.8 315.9 21.93

II 179.02 56.69 139.3 156.2 135.8 19.30
III 184.27 69.27 115.3 132.5 135.8 19.37
IV 177.93 53.58 118.5 100.8 182.2 21.30
Annual
Jan Est. 175.54 58.59 124.4 140.1 192.4 20.60
Feb Est. 175.54 58.59 124.4 140.1 192.4 20.48
2024 I* 176.00 55.00 128.0 93.0 260.0 20.35

II* 180.00 62.00 131.0 105.0 160.0 20.80
III* 180.00 66.00 125.0 115.0 145.0 20.80
IV* 184.00 56.00 125.0 116.0 165.0 21.90
Annual
Jan Proj. 178.0 58.0 126.0 111.0 165.0 20.00
Feb Proj. 180.0 60.0 127.0 107.0 183.0 20.95
*Projection. 1/ Simple average of months. 2/ 5-Area, Direct, Total all grades 3/ National Base, Live equiv 51-52% lean. 4/ Wholesale,
National Composite Weighted Average. 5/ 8-16 lbs, hens National. 6/ Grade A large, New York, volume buyers. 7/ Prices received by
farmers for all milk.
February 2024
WASDE - 645 - 32
U.S. Meats Supply and Use
Beginning Production Total Ending Total Per Capita

Item
stocks 1/ Imports Supply Exports Stocks Use 2/ 3/
Million Pounds /4
Beef 2022 676 28,359 3,390 32,425 3,544 723 28,157 59.1
2023 Est. Jan 723 27,035 3,708 31,467 3,015 630 27,822 58.1
Feb 723 27,032 3,727 31,483 3,038 644 27,801 58.0
2024 Proj. Jan 630 26,178 3,770 30,578 2,785 600 27,193 56.5
Feb 644Filler
26,253
Filler
4,125Filler
31,022Filler
2,785 Filler
615Filler
27,622
Filler
57.4
Filler
Pork 2022 446 27,011 1,344 28,800 6,345 504 21,951 51.1
2023 Est. Jan 504 27,317 1,169 28,990 6,769 450 21,772 50.4
Feb 504 27,316 1,143 28,963 6,818 471 21,674 50.2
2024 Proj. Jan 450 27,985 1,215 29,650 6,870 450 22,330 51.4
Feb 471Filler
27,895
Filler
1,195Filler
29,561
Filler
7,080Filler
475Filler
22,006
Filler
50.7
Filler
Total Red 2022 1,147 55,564 5,092 61,804 9,895 1,256 50,653 111.6
Meat 5/ 2023 Est. Jan 1,256 54,540 5,163 60,959 9,789 1,109 50,062 109.7
Feb 1,256 54,535 5,154 60,945 9,861 1,136 49,948 109.5
2024 Proj. Jan 1,109 54,355 5,310 60,773 9,661 1,077 50,036 109.2
Feb 1,136Filler
54,339
Filler
5,625Filler
61,100
Filler
9,870Filler
1,116
Filler
50,114
Filler
109.3
Filler
Broiler 2022 705 45,711 176 46,593 7,290 892 38,411 98.9
2023 Est. Jan 892 45,926 130 46,948 7,255 850 38,844 99.5
Feb 892 45,886 131 46,910 7,265 845 38,800 99.4
2024 Proj. Jan 850 46,176 180 47,206 7,275 860 39,071 99.6
Feb 845Filler
46,275
Filler
215Filler
47,334
Filler
7,215Filler
860Filler
39,259
Filler
100.1
Filler
Turkey 2022 166 5,222 85 5,473 407 190 4,877 14.6

2023 Est. Jan 190 5,462 43 5,695 490 195 5,010 14.9
Feb 190 5,455 43 5,687 489 244 4,954 14.8
2024 Proj. Jan 195 5,470 64 5,729 500 195 5,034 14.9
Feb 244Filler
5,395
Filler
64Filler
5,703
Filler
515Filler
195Filler
4,993
Filler
14.8
Filler
Total 2022 874 51,502 268 52,645 7,716 1,087 43,841 115.2
Poultry 6/ 2023 Est. Jan 1,087 51,970 177 53,234 7,765 1,052 44,417 116.1
Feb 1,087 51,920 178 53,185 7,774 1,096 44,315 115.9
2024 Proj. Jan 1,052 52,210 250 53,512 7,793 1,061 44,658 116.1
Feb 1,096Filler
52,239
Filler
285Filler
53,620
Filler
7,748Filler
1,061
Filler
44,811
Filler
116.6
Filler
Red Meat & 2022 2,021 107,067 5,361 114,449 17,611 2,343 94,494 226.8
Poultry 2023 Est. Jan 2,343 106,510 5,340 114,193 17,554 2,161 94,479 225.8
Feb 2,343 106,455 5,332 114,130 17,635 2,232 94,263 225.3
2024 Proj. Jan 2,161 106,565 5,560 114,285 17,454 2,138 94,694 225.3
Feb 2,232 106,578 5,910 114,720 17,618 2,177 94,925 225.9
1/ Total including farm production for red meats and, for poultry, federally inspected plus non-federally inspected, less
condemnations. 2/ Pounds, retail-weight basis for red meat and broilers; certified ready-to-cook weight for turkey. 3/
Population source: Dept. of Commerce. 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.
February 2024
WASDE - 645 - 33
U.S. Egg Supply and Use
2021 2022 2023 Est. 2023 Est. 2024 Proj. 2024 Proj.
Commodity
Jan Feb Jan Feb
Eggs Million Dozen
Supply
Beginning Stocks 24.5 19.1 18.8 18.8 23.0 23.1
Production 9,297.9 9,073.8 9,188.8 9,186.5 9,325.0 9,305.0
Imports 18.2 26.0 27.7 27.6 26.0 26.0
Total Supply 9,340.6 9,118.9 9,235.2 9,232.8 9,374.0 9,354.1
Use
Exports 392.1 226.5 246.0 250.4 241.0 241.0
Hatching Use 1,103.9 1,116.4 1,106.7 1,111.8 1,120.0 1,125.0
Ending Stocks 19.1 18.8 23.0 23.1 22.0 22.0
Disappearance
Total 7,825.4 7,757.2 7,859.6 7,847.6 7,991.0 7,966.1
Per Capita (number) 282.5 279.0 281.3 280.9 284.4 283.7
Total
U.S. Milk Supply and Use
2021 2022 2023 Est. 2023 Est. 2024 Proj. 2024 Proj.
Commodity
Jan Feb Jan Feb
Milk Billion Pounds
Production 226.2 226.4 226.6 226.6 228.3 228.2
Farm Use 1.0 1.0 1.0 1.0 1.0 1.0
Fat Basis Supply
Marketings 225.2 225.4 225.6 225.6 227.3 227.2
Imports 6.5 7.1 7.5 7.4 7.5 7.4
Total Supply 247.4 246.8 247.5 247.3 249.2 248.3
Fat Basis Use
Exports 11.5 13.4 10.6 10.6 11.6 11.7
Ending Stocks 14.3 14.4 14.4 13.8 14.0 12.0
Domestic Use 221.5 219.1 222.5 223.0 223.7 224.7
Skim-solid Basis Supply
Marketings 225.2 225.4 225.6 225.6 227.3 227.2
Imports 5.8 6.7 6.3 6.3 6.4 6.4
Total Supply 241.9 243.2 243.6 243.5 244.3 243.5
Skim-solid Basis Use
Exports 50.6 52.9 50.0 49.9 53.2 51.9
Ending Stocks 11.1 11.7 10.6 9.9 10.8 9.5
Domestic Use 180.1 178.7 183.0 183.7 180.3 182.0
Total
Note: Totals may not add due to rounding.

February 2024
WASDE - 645 - 34
U.S. Dairy Prices
2021 2022 2023 Est. 2023 Est. 2024 Proj. 2024 Proj.
Commodity
Jan Feb Jan Feb
Product Prices 1/ Dollars Per Pound
Cheese 1.6755 2.1122 1.7593 1.7593 1.620 1.690
Butter 1.7325 2.8665 2.6170 2.6170 2.665 2.770
Nonfat Dry Milk 1.2693 1.6851 1.1856 1.1856 1.190 1.235
Dry Whey
Filler
0.5744 0.6057 0.3618 0.3618 0.430 0.480
Dollars Per Cwt
Milk Prices 2/
Class III 17.08 21.96 17.02 17.02 16.10 17.10
Class IV 16.09 24.47 19.12 19.12 19.35 20.20
All Milk 3/ 18.53 25.34 20.60 20.48 20.00 20.95
All prices are January-December averages. 1/ Simple average of monthly prices calculated by AMS from weekly 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 deductions from
producers as authorized by legislation.
February 2024
WASDE - 645 - 35
Reliability of February Projections 1/

Note: Tables on pages 35-37 present a record of the February projection and the final Estimate. Using world wheat
production as an example, 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 more than 0.6 percent. Chances are 9 out of 10 (90% confidence level) that the
difference will not exceed 0.9 percent. The average difference between the February projection and the final estimate is 2.5
million tons, ranging from 0 million to 7.3 million tons. The February projection has been below the estimate 32 times and
above 10 times.
Differences between forecast and final estimate
90 percent Years
Commodity and Root mean confidence Below Above
Region square error interval Average Smallest Largest Final Final
WHEAT Percent Million Metric Tons
Production
World 0.6 0.9 2.5 0.0 7.3 32 10
U.S. 0.2 0.3 0.1 0.0 0.3 19 11
Foreign 0.6 1.1 2.5 0.0 7.3 32 10
Exports
World 4.6 7.8 5.0 0.1 18.8 31 11
U.S. 3.9 6.6 1.0 0.0 3.0 20 21
Foreign 5.6 9.4 4.8 0.5 18.4 35 7
Domestic Use
World 1.0 1.8 4.9 0.1 15.6 20 22
U.S. 3.7 6.3 0.9 0.0 2.4 13 28
Foreign 1.1 1.8 4.7 0.1 15.1 24 18
Ending Stocks
World 4.5 7.6 6.0 0.1 18.2 28 14
U.S. 8.1 13.7 1.3 0.0 4.5 30 12
Foreign 5.0 8.4 5.3 0.2 17.0 26 16
COARSE GRAINS 2/
Production
World 1.3 2.2 11.1 0.0 36.3 34 8
U.S. 0.2 0.3 0.2 0.0 1.8 18 11
Foreign 1.8 3.1 11.2 0.0 36.3 32 9
Exports
World 5.7 9.5 5.6 0.5 27.7 31 11
U.S. 10.4 17.5 4.1 0.1 12.2 22 20
Foreign 9.4 15.8 5.8 0.1 23.4 29 13
Domestic Use
World 1.1 1.8 7.7 0.0 31.3 22 20
U.S. 2.8 4.7 3.9 0.0 17.3 16 25
Foreign 1.3 2.1 7.9 0.5 33.0 26 16
Ending Stocks
World 10.5 17.7 14.3 0.2 139.8 37 5
U.S. 13.8 23.3 5.0 0.0 18.5 22 20
Foreign 13.0 21.9 12.3 0.8 144.0 37 5
RICE, milled
Production
World 1.5 2.6 4.5 0.1 14.0 33 9
U.S. 1.4 2.4 0.0 0.0 0.3 12 6
Foreign 1.6 2.6 4.5 0.1 14.0 33 9
Exports
World 8.3 14.0 1.7 0.0 5.2 31 11
U.S. 7.4 12.4 0.2 0.0 0.6 21 19
Foreign 9.2 15.6 1.6 0.0 5.3 30 12
Domestic Use
World 1.3 2.1 3.5 0.2 13.3 27 15
U.S. 7.0 11.8 0.2 0.0 0.5 18 24
Foreign 1.3 2.1 3.4 0.1 13.0 27 15
Ending Stocks
World 8.9 14.9 5.2 0.2 27.0 33 9
U.S. 18.4 30.9 0.2 0.0 0.5 22 19
Foreign 9.1 15.3 5.1 0.0 26.9 33 8
1/ Footnotes at end of table. CONTINUED
February 2024
WASDE - 645 - 36
Reliability of February Projections (Continued) 1/

90 percent Years
Commodity and Root mean confidence Below Above
Region square error interval Average Smallest Largest Final Final
SOYBEANS Percent Million Metric Tons
Production
World 2.7 4.5 4.6 0.4 15.3 23 19
U.S. 1.3 2.3 0.7 0.0 3.2 18 18
Foreign 4.5 7.6 4.6 0.3 14.9 25 17
Exports
World 6.1 10.2 3.3 0.1 13.2 27 15
U.S. 7.1 11.9 1.8 0.1 6.7 28 14
Foreign 15.0 25.3 3.1 0.0 17.2 20 22
Domestic Use
World 2.2 3.7 3.5 0.0 12.3 21 21
U.S. 3.0 5.0 1.1 0.0 3.0 27 15
Foreign 2.7 4.5 3.1 0.0 12.5 21 21
Ending Stocks
World 13.7 23.1 4.1 0.0 19.3 24 18
U.S. 39.9 67.1 2.0 0.1 6.9 14 28
Foreign 15.0 25.3 3.8 0.2 19.1 27 15
COTTON Million 480-Pound Bales
Production
World 2.4 4.0 1.8 0.0 5.4 30 12
U.S. 1.1 1.8 0.1 0.0 0.3 14 27
Foreign 2.8 4.8 1.8 0.1 5.7 30 12
Exports
World 5.9 10.0 1.6 0.0 7.9 25 17
U.S. 9.8 16.4 0.7 0.0 2.2 23 18
Foreign 7.7 13.0 1.4 0.1 7.2 24 18
Domestic Use
World 3.5 5.9 2.3 0.3 17.0 22 20
U.S. 7.5 12.7 0.2 0.0 0.9 22 17
Foreign 3.5 5.9 2.2 0.3 16.1 23 19
Ending Stocks
World 9.5 16.0 3.9 0.0 17.5 25 16
U.S. 20.9 35.2 0.8 0.0 2.1 14 28
Foreign 10.2 17.2 3.7 0.1 15.6 27 15
1/ Marketing years 1981/82 through 2022/23 for grains, soybeans (U.S. only), and cotton. Final for grains, soybeans, and
cotton is defined as the first November estimate following the marketing year for 1981/82 through 2021/22, and for 2022/23
the last month’s estimate. 2/ Includes corn, sorghum, barley, oats, rye, millet, and mixed grain.
February 2024
WASDE - 645 - 37
Reliability of United States February Projections 1/

90 percent Years
Root mean confidence Below Above
square error interval Average Smallest Largest Final Final
CORN Percent Million Bushels
Production 0.2 0.3 7 0 72 2 6
Exports 11.0 18.5 148 9 388 20 22
Domestic Use 2.7 4.6 133 6 474 18 24
Ending Stocks 15.6 26.3 199 8 838 24 18
SORGHUM
Production 0.1 0.2 0 0 4 0 2
Exports 16.2 27.2 27 0 97 26 14
Domestic Use 15.9 26.8 30 1 178 18 24
Ending Stocks 40.8 68.7 22 1 148 14 28
BARLEY
Production 0.9 1.6 1 0 11 21 4
Exports 32.4 54.6 6 0 35 14 23
Domestic Use 7.3 12.3 15 0 70 20 20
Ending Stocks 13.6 22.9 12 0 52 25 16
OATS
Production 0.4 0.7 0 0 2 5 4
Exports 48.5 81.7 1 0 3 9 8
Domestic Use 5.1 8.6 10 0 36 15 26
Ending Stocks 16.2 27.3 11 1 47 25 17
SOYBEAN MEAL Thousand Short Tons
Production 2.9 4.9 854 35 3,117 29 13
Exports 9.2 15.4 639 1 2,626 31 11
Domestic Use 2.6 4.3 594 7 2,066 25 17
Ending Stocks 33.9 57.1 65 0 253 17 23
SOYBEAN OIL Million Pounds
Production 2.8 4.7 390 7 1,242 27 15
Exports 26.9 45.2 317 25 1,027 23 19
Domestic Use 2.9 5.0 384 0 1,261 26 15
Ending Stocks 19.2 32.4 284 25 1,131 24 18
ANIMAL PROD. Million Pounds
Beef 2.8 4.7 579 9 1,613 27 14
Pork 2.9 4.9 392 10 1,717 23 18
Broilers 1.6 2.7 375 0 1,225 25 15
Turkeys 3.0 5.0 126 2 465 19 22
Million Dozen
Eggs 2.0 3.3 111 4 525 23 18
Billion Pounds
Milk 1.3 2.2 1.6 0.1 5.7 21 20
1/ See pages 35 and 36 for record of reliability for U.S. wheat, rice, soybeans, and cotton. Marketing years 1981/82 through
2022/23 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 2022/23. Calendar years 1982 through 2022 for meats, eggs, and milk.
Final for animal products is defined as the latest annual production estimate published by NASS for 1982-2022.
WASDE-645-38
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
https://apps.fas.usda.gov/psdonline/app/index.html. 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 International Production Assessment Division (IPAD) of the Foreign Agricultural
Service. IPAD is located at https://ipad.fas.usda.gov/.
Metric Conversion Factors
1 Hectare = 2.4710 Acres

1 Kilogram = 2.20462 Pounds
Metric-Ton Equivalent = Domestic Unit Factor
Wheat & Soybeans bushels .027216
Rice cwt .045359
Corn, Sorghum, & Rye bushels .025401
Barley bushels .021772
Oats bushels .014515
Sugar short tons .907185
Cotton 480-lb bales .217720
One week until AOF 2024!
Register Today
For complete WASDE tables and previous month’s report visit
https://www.usda.gov/oce/commodity/wasde/
Click to receive WASDE-related notifications by email
Previous WASDE reports are available at

https://usda.library.cornell.edu/concern/publications/3t945q76s?locale=en
For questions contact: Mirvat Sewadeh at mirvat.sewadeh@usda.gov
World Agricultural Supply and Demand Estimates

WASDE-645 – February 8, 2024
The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and
activities on the basis of race, color, national origin, gender, religion, age, disability, political
beliefs, sexual orientation, and marital or family status. (Not all prohibited bases apply to all
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World Agricultural Supply

INTERAGENCY COMMODITY ESTIMATES COMMITTEES

Wheat: Mark Simone, ICEC Chair, WAOB, mark.simone@usda.gov

Rice: Mark Simone, ICEC Chair, WAOB, mark.simone@usda.gov

Feed Grains: Michael Jewison, ICEC Chair, WAOB, michael.jewison2@usda.gov

Oilseeds: Joanna Hitchner, ICEC Chair, WAOB, joanna.hitchner@usda.gov

Cotton: Stephen MacDonald, ICEC Chair, WAOB, stephen.macdonald3@usda.gov

Sugar: Stephen Haley, ICEC Chair, WAOB, stephen.haley2@usda.gov

Meat Animals: Shayle Shagam, ICEC Chair, WAOB, shayle.shagam@usda.gov

Poultry: Shayle Shagam, ICEC Chair, WAOB, shayle.shagam@usda.gov

Dairy: Shayle Shagam, ICEC Chair, WAOB, shayle.shagam@usda.gov

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

2023/24 (Proj.) Jan 2812.30 3589.92 501.28 2810.97 778.95

Wheat 2021/22 780.05 1063.91 202.77 791.16 272.75

2023/24 (Proj.) Jan 784.91 1056.47 209.54 796.44 260.03

Coarse Grains 5/ 2021/22 1500.79 1824.00 253.87 1486.02 337.98

2023/24 (Proj.) Jan 1513.85 1844.10 240.25 1492.43 351.67

Rice, milled 2021/22 513.10 700.91 56.90 517.62 183.28

2023/24 (Proj.) Jan 513.54 689.35 51.50 522.10 167.25

Total Total Ending

2023/24 (Proj.) Jan 459.13 520.72 81.72 362.27 76.74

Wheat 2021/22 44.80 70.42 21.66 30.41 18.36

2023/24 (Proj.) Jan 49.31 68.76 19.73 31.41 17.62

Coarse Grains 5/ 2021/22 396.30 432.90 70.52 324.91 37.48

2023/24 (Proj.) Jan 402.89 442.73 59.29 325.71 57.73

Rice, milled 2021/22 6.07 8.65 2.65 4.74 1.26

2023/24 (Proj.) Jan 6.93 9.23 2.70 5.14 1.38

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

2023/24 (Proj.) Jan 2,353.17 3,069.20 419.57 2,448.70 702.21

Wheat 2021/22 735.25 993.49 181.11 760.75 254.40

2023/24 (Proj.) Jan 735.59 987.71 189.81 765.03 242.41

Coarse Grains 5/ 2021/22 1,104.50 1,391.10 183.35 1,161.11 300.51

2023/24 (Proj.) Jan 1,110.96 1,401.37 180.96 1,166.71 293.94

Rice, milled 2021/22 507.03 692.25 54.25 512.88 182.02

2023/24 (Proj.) Jan 506.61 680.12 48.80 516.96 165.87

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

2023/24 (Proj.) Jan 113.18 196.39 43.05 112.43 84.38

United States 2021/22 17.52 20.68 14.48 2.55 4.05

2023/24 (Proj.) Jan 12.43 16.69 12.10 1.90 2.90

Foreign 4/ 2021/22 96.96 171.48 28.71 113.56 72.37

2023/24 (Proj.) Jan 100.75 179.71 30.95 110.53 81.48

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

2023/24 (Proj.) Jan 660.18 780.29 197.35 541.96 131.34

Oilmeals 2021/22 349.53 369.35 96.28 346.77 20.28

2023/24 (Proj.) Jan 369.85 387.65 100.71 364.10 19.69

Vegetable Oils 2021/22 207.77 236.58 79.61 202.38 29.11

2023/24 (Proj.) Jan 223.04 253.91 89.89 218.48 30.41

United States Output

Oilseeds 2021/22 131.32 141.14 59.55 63.87 9.14

2023/24 (Proj.) Jan 122.37 132.70 48.79 66.71 9.15

Oilmeals 2021/22 49.23 53.19 12.46 40.38 0.35

2023/24 (Proj.) Jan 51.52 56.16 14.10 41.62 0.44

Vegetable Oils 2021/22 13.05 19.62 1.05 17.30 1.27

2023/24 (Proj.) Jan 13.59 21.38 0.30 19.97 1.11

Oilseeds 2021/22 480.46 586.66 119.90 446.31 108.33

2023/24 (Proj.) Jan 537.80 647.59 148.56 475.25 122.19

Oilmeals 2021/22 300.30 316.16 83.82 306.39 19.93

2023/24 (Proj.) Jan 318.33 331.49 86.62 322.48 19.25

Vegetable Oils 2021/22 194.72 216.96 78.57 185.09 27.84

2023/24 (Proj.) Jan 209.44 232.53 89.58 198.51 29.30

U.S. Wheat Supply and Use 1/

2021/22 2022/23 Est. 2023/24 Proj. 2023/24 Proj.

U.S. Wheat by Class: Supply and Use

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