OCE Release #2-2003
Raymond L. Bridge, 202-720-5447
rbridge@oce.usda.gov
	
MEDIA ADVISORY:
CHANGES IN THE MAY 12 SUPPLY AND DEMAND ESTIMATES REPORT

	Washington, May 6, 2003--The May 12 World Agricultural Supply and Demand Estimates
(WASDE) report will provide USDA's first assessment of supply, demand, and prices for the new 
marketing year.  The WASDE report is issued by the World Agricultural Outlook Board of USDA's 
Office of the Chief Economist.
	The report will present projections for 2003/04 for grains, oilseeds, cotton, sugar 
and milk, as well as calendar-year 2004 projections for U.S. meat and poultry products.  
As in past years, reporting of country-level data for rice, oilseeds and cotton for 2003/04 
will begin with the July issue.
	Several reporting changes will be made.  Starting with the May 12 report, U.S. stocks 
of refined sugar will no longer be separately reported for "private" and "other."  The world 
rice supply and use table will be expanded to two pages to allow for more country detail.  
Page numbers and order will change for several tables.  For several world supply and demand 
tables, the list of countries will change.  See the end of this release for a revised table 
of contents and sample tables for U.S. sugar and world rice, cotton, soybeans and soybean meal 
reflecting these changes.
	The WASDE report is available electronically in Adobe Acrobat format as well as in 
ASCII text.at http://www.usda.gov/oce/waob/wasde/wasde.htm.  To subscribe to the WASDE report 
in print, call (800) 999-6779.  For more information call (202) 720-5447.  Access all USDA 
reports by release date at http://www.usda.gov/news/releases/rptcal/calindex.htm.

                                        # 


TABLE OF CONTENTS WASDE-398- May 12, 2003
					

	Page
Highlights	                          1
World & U.S. Supply & Use for Grains	  6
World & U.S. Supply & Use for Cotton	  7
World & U.S. Supply & Use for Oilseeds 	  8
U.S. Wheat Supply & Use	                  9
U.S. Wheat Supply & Use by Class 	  9
U.S. Feed Grain & Corn Supply & Use	 10
U.S. Sorghum, Barley & Oats Supply & Use 11
U.S. Rice Supply & Use	                 12
U.S. Soybeans & Products Supply & Use	 13
U.S. Sugar Supply & Use	                 14
Metric  Conversion Factors	         14
U.S. Cotton Supply & Use 	         15
World Wheat Supply & Use	         16
World Coarse Grains Supply & Use	 18
World Corn Supply & Use	                 20
World Rice Supply & Use	                 22
World Cotton Supply & Use 	         24
World Soybean Supply & Use	         26
World Soybean Meal Supply & Use	         27
World Soybean Oil Supply & Use	         28
U.S. Quarterly Animal Product Production 29
U.S. Quarterly Prices for Animal Products29
U.S. Meats Supply and Use	         30
U.S. Egg Supply & Use	                 31
U.S. Milk Supply, Use & Prices	         31
Reliability Tables	                 32
Interagency Commodity Estimates Committees 35
Electronic Access and Subscriptions	36


                              WASDE-398-14                  
                      U.S. Sugar Supply and Use 1/
======================================================================
                        :           :       2002/03      :  2003/04
      Item              : 2001/02   :====================:============
                        :           :   April      May   : Projection
======================================================================
                        :           1,000 short tons, raw value
				:
Beginning stocks 2/     :  
Production 2/3/         :  
  Beet sugar            :
  Cane sugar 4/         :  
Imports 2/              :
  TRQ 5/                :
  Other program 6/      :
  Other 7/              :
   Total supply         : 
                        :
Exports 2/8/            :
Domestic deliveries 2/  :
  Domestic food use     :
  Other 9/              :
Miscellaneous 10/       :
     Use, total         :
Ending stocks 2/        :
                        :
Stocks to use ratio     :
======================================================================
1/ Fiscal years beginning Oct 1.  Includes Puerto Rico.  2/ Historical 
data are from FSA, "Sweetener Market Data" except imports from U.S. 
Customs Service.  3/ Projections for 2003/04 are based on analyses by 
the Interagency Commodity Estimates Committee for sugar. 4/ Production 
by state for 2002/03 (projected 2003/04): FL 2,150 (    ); HI 280 
(   ); LA 1,360 (    ); TX 180 (   ); PR 0 ( ).  5/ Actual arrivals 
under the tariff rate quota (TRQ) with late entries, early entries, 
and TRQ overfills assigned to the fiscal year in which they actually 
arrived.  The 2003/04 available TRQs assume shortfall of 65,000 tons. 
6/ Includes sugar under the re-export and polyhydric alcohol programs. 
7/ Includes high-tier and other.  8/ Mostly reexports. 9/ Transfer to 
sugar containing products for reexport, and for nonedible alcohol and 
feed.  10/ Residual statistical discrepancies.




                                 WASDE-398-22
                    World Rice Supply and Use (Milled Basis) 1/
                             (Million Metric Tons)
===============================================================================
                      :          Supply         :        Use        :
                      :=========================:===================: Ending
        Region        :         :       :       :         :         : stocks
                      :Beginning:Produc-:       : Total 2/:         :
                      :  stocks : tion  :Imports: Domestic: Exports :
===============================================================================
                      :
                      :                      2001/02
World 3/              :
United States         :
Total foreign         :
  Major exporters 4/  :
   India              :
   Pakistan           :
   Thailand           :
   Vietnam            :
  Major importers 5/  :
   Brazil             :
   EU-15              :
   Indonesia          :
   Nigeria            :
   Philippines        :
   Sel. Mideast 6/    :
  Selected other      :
   Burma              :
   C. Amer & Carib  7/:
   China              :
   Egypt              :
   Japan              :
   Mexico             :
   South Korea        :
                      :
                      :                 2002/03 (Estimated)
World 3/              :
United States         :
Total foreign         :
  Major exporters 4/  :
   India              :
   Pakistan           :
   Thailand           :
   Vietnam            :
  Major importers 5/  :
   Brazil             :
   EU-15              :
   Indonesia          :
   Nigeria            :
   Philippines        :
   Sel. Mideast 6/    :
  Selected other      :
   Burma              :
   C. Amer & Carib  7/:
   China              :
   Egypt              :
   Japan              :
   Mexico             :
   South Korea        :
===============================================================================
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 some countries.   
4/ India, Pakistan, Thailand, and Vietnam.  5/ Brazil, Indonesia, Hong Kong, 
Iran, Iraq, Cote d'Ivoire, Nigeria, Philippines, Saudi Arabia, the EU-15
(excludes intra-trade). 6/ Selected Middle East includes Iran, Iraq, and Saudi
Arabia. 7/ Central American and Caribbean countries.


                                WASDE-398-23
                World Rice Supply and Use (Milled Basis) 1/ (Cont'd.)
                             (Million Metric Tons)
===============================================================================
                      :          Supply         :        Use        :
                      :=========================:===================: Ending
        Region        :         :       :       :         :         : stocks
                      :Beginning:Produc-:       : Total 2/:         :
                      :  stocks : tion  :Imports: Domestic: Exports :
===============================================================================
                      :
                      :                 2003/04 (Projected)
                      :
World 3/          May :
United States     May :
Total foreign     May :
===============================================================================
1/ Aggregate of local marketing years.  2/ Total foreign and world use
adjusted to reflect the differences in world imports and exports.  3/ World
imports and exports may not balance due to differences in some countries. 


                                 WASDE-398-24
 	                   World Cotton Supply and Use 1/
                             (Million 480-pound bales)
================================================================================
                      :          Supply         :       Use      :      :
        Region        :=========================:================: Loss : Ending
                      :Beginning:Produc-:Imports:Domestic:Exports:  2/  : stocks
                      :  stocks : tion  :   3/  :        :  3/   :      :
================================================================================
                      :
                      :                      2001/02
                      :
World                 :
United States         :
Total foreign         :
  Major exporters 5/  :
   Pakistan           :
   Central Asia 6/    :
   Afr. Fr. Zone 7/   :
   S. Hemis. 8/       :
    Australia         :
  Major importers     :
   Brazil             :
   India              :
   Mexico             :
   China              :
   Europe             :
   Russia             :
   Turkey             :
   Selected Asia 8/   :
    Indonesia         :
    Thailand          :
                      :
                      :                 2002/03 (Estimated)
                      :
World                 :
United States         :
Total foreign         :
  Major exporters 5/  :
   Pakistan           :
   Central Asia 6/    :
   Afr. Fr. Zone 7/   :
   S. Hemis. 8/       :
    Australia         :
  Major importers     :
   Brazil             :
   India              :
   Mexico             :
   China              :
   Europe             :
   Russia             :
   Turkey             :
   Selected Asia 9/   :
    Indonesia         :
    Thailand          :  ================================================================================
1/ Marketing year beginning August 1.   Totals may not add exactly and trade
may not balance due to rounding and other factors.   2/ Generally reflects
cotton lost or destroyed in the marketing channel; for Australia, Brazil, and 
the United States, reflects the difference between implicit stocks based on
supply less total use and indicated ending stocks.  3/ Less than 5,000 bales. 
4/ Includes Egypt and Syria in addition to the countries and regions listed.  
5/ Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and
Uzbekistan.  6/ Benin, Burkino Faso, Cameroon, Central African Republic, Chad,
Cote d'Ivoire, Mali, Niger, Senegal, and Togo.  7/ Argentina, Australia,
Paraguay, South Africa, and Zimbabwe.  8/ Hong Kong, Indonesia, Japan, South
Korea, Taiwan, Thailand, and Vietnam.


                                 WASDE-398-25
                          World Cotton Supply and Use 1/
                             (Million 480-pound bales)
================================================================================
                      :          Supply         :       Use      :      :
        Region        :=========================:================: Loss : Ending
                      :Beginning:Produc-:Imports:Domestic:Exports:  2/  : stocks
                      :  stocks : tion  :   3/  :        :  3/   :      :
================================================================================
                      :
                      :                 2003/04 (Projected)
World                 :
             May      :
United States         :
             May      :
Total foreign         :
             May      :
================================================================================
1/ Marketing year beginning August 1.   Totals may not add exactly and trade
may not balance due to rounding and other factors.   2/ Generally reflects
cotton lost or destroyed in the marketing channel; for Australia, Brazil, and 
the United States, reflects the historical difference between implicit stocks 
based on supply less total use and indicated ending stocks.

                                  WASDE-398-26
                       World Soybean Supply and Use 1/
                             (Million Metric Tons)
===============================================================================
                      :          Supply         :           Use         :
                      :=========================:=======================:Ending
     Region           :         :       :       :               :       :stocks
                      :Beginning:Produc-:       :    Domestic   :       :
                      :  stocks : tion  :Imports: Crush : Total :Exports:
===============================================================================
                      :
                      :                      2000/01
World 2/              : 
United States         : 
Total foreign         : 
  Major exporters 3/  : 
   Argentina          : 
   Brazil             :
  Major importers 4/  :
   China              :
   EU-15              :
   Japan              :
   Mexico             :
                      :
                      :                 2001/02 (Estimated)
World 2/              : 
United States         : 
Total foreign         : 
  Major exporters 3/  : 
   Argentina          : 
   Brazil             : 
  Major importers 4/  : 
   China              : 
   EU-15              : 
   Japan              : 
   Mexico             : 
                      :
                      :                 2002/03 (Projected)
World 2/              :
           April      : 
           May        : 
United States         :
           April      : 
           May        : 
Total foreign         :
           April      : 
           May        : 
  Major exporters 3/  :
           April      : 
           May        : 
   Argentina      Apr : 
                  May : 
   Brazil         Apr : 
                  May : 
  Major importers 4/  :
           April      : 
           May        : 
   China          Apr : 
                  May : 
   EU-15          Apr : 
                  May : 
   Japan          Apr : 
                  May : 
   Mexico         Apr : 
                  May : 
===============================================================================
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/ Argentina, Brazil and Paraguay.  4/ Japan, China, and EU, Mexico, and
Southeast Asia (includes Indonesia, Malaysia, Philippines, and Thailand).


                                WASDE-398-27
                      World Soybean Oil Supply and Use 1/
                             (Million Metric Tons)
===============================================================================
                      :          Supply         :        Use        :
                      :=========================:===================: Ending
        Region        :         :       :       :         :         : stocks
                      :Beginning:Produc-:       : Total   :         :
                      :  stocks : tion  :Imports: Domestic: Exports :
===============================================================================
                      :
                      :                      2000/01
World 2/              : 
United States         : 
Total foreign         : 
  Major exporters 3/  : 
   Argentina          : 
   Brazil             : 
   EU-15              : 
  Major importers 4/  : 
   China              : 
   India              : 
   Pakistan           : 
                      :
                      :                 2001/02 (Estimated)
World 2/              : 
United States         : 
Total foreign         : 
  Major exporters 3/  : 
   Argentina          : 
   Brazil             : 
   EU-15              : 
  Major importers 4/  : 
   China              : 
   India              : 
   Pakistan           : 
                      :
                      :                 2002/03 (Projected)
World 2/              :
           April      : 
           May        : 
United States         :
           April      : 
           May        : 
Total foreign         :
           April      : 
           May        : 
  Major exporters 3/  :
           April      : 
           May        : 
   Argentina      Apr : 
                  May : 
   Brazil         Apr : 
                  May : 
   EU-15          Apr : 
                  May : 
  Major importers 4/  :
           April      : 
           May        : 
   China          Apr : 
                  May : 
   India          Apr : 
                  May : 
   Pakistan       Apr : 
                  May : 
===============================================================================
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 EU.  4/ India, China and Pakistan.