WORLD SUPPLY/DEMAND ESTIMATES ISSUED BY USDA
The U.S. Agriculture Department made
the following 1986/87 projections in its world Supply/Demand
report, with comparisons, in mln tonnes, except where noted --
    Total World Grain
               1986/87            1985/86
         04/09/87  03/09/87  04/09/87  03/09/87
 Produc  1,682.31  1,686.11  1,663.69  1,663.70
 Total
 Supply  2,025.71  2,028.45  1,919.18  1,920.13
 Trade-X   212.15    211.89    204.42    203.92
 Usage   1,635.01  1,630.40  1,575.78  1,577.79
 End Stks  390.70    398.05    343.40    342.34
 X-Based on export estimate.
    All Wheat    1986/87           1985/86
           04/09/87 03/09/87  04/09/87 03/09/87
 Start Stks  137.05   136.48   125.54   125.87
 Production  529.20   528.40   498.97   498.81
 Imports      97.57    98.27    94.56    94.36
 Feed Use    101.79   100.82    90.19    90.56
 Total Domes 517.26   514.89   487.45   488.20
 Exports     101.08   101.20    95.92    95.76
 End Stocks  148.99   149.99   137.05   136.48
  Note - World imports/exports may not balance due to differing
marketing years, grains in transit and reporting discrepancies.
    Coarse Grain
                1986/87           1985/86
           04/09/87 03/09/87  04/09/87 03/09/87
 Start Stcks 181.64  181.10    107.80  108.40
 Production  835.21  838.82    844.60  844.84
 Imports      95.66   93.77     95.70   95.18
 Feed Use    514.07  510.20    510.20  510.80
 Total Domes 796.33  793.64    770.76  772.14
 Exports      98.97   98.47     96.02   95.76
 End Stocks  220.52  226.28    181.64  181.10
  Note - World imports/exports may not balance due to differing
marketing years, grain in transit and reporting discrepancies.
    Corn (Mln Tonnes)
                1986/87           1985/86
           04/09/87 03/09/87  04/09/87 03/09/87
 Start Stcks 123.08  123.11     61.09   61.75
 Production  477.26  480.29    481.86  481.92
 Imports      61.03   58.59     62.12   62.08
 Feed Use    295.49  289.47    286.53  287.42
 Ttl Domes   444.78  439.80    419.88  420.55
 Exports      62.80   62.10     62.53   62.15
 End Stocks  155.56  163.61    123.08  123.11
  Note - World imports/exports may not balance due to differing
marketing years, grain in transit and reporting discrepancies.

    Soybeans
                1986/87           1985/86
           04/09/87 03/09/87  04/09/87 03/09/87
 Start Stcks  23.03   22.84    17.59   17.58
 Production   99.98   99.43    96.74   96.53
 Imports      26.21   26.27    27.08   27.08
 Crushings    79.69   79.33    76.16   76.15
 Ttl Domes    97.53   96.40    92.36   92.34
 Exports      26.45   26.43    26.02   26.01
 End Stocks   25.23   25.71    23.03   22.84
  Note - Imports and exports do not balance due to differing
marketing years and time lags between reported exports and
imports.
    Soybean Meal
                1986/87            1985/86
           04/09/87 03/09/87  04/09/87 03/09/87
 Start Stocks  2.55    2.47     2.79    2.74
 Production   62.71   62.40    60.09   60.09
 Imports      23.47   23.49    23.48   23.47
 Consumption  62.69   62.49    61.06   61.10
 Exports      23.51   23.39    22.76   22.74
 End Stocks    2.52    2.47     2.55    2.47
  Note - Imports and exports may not balance due to differing
marketing years and time lags between reported exports and
imports.
    Soybean Oil
                1986/87          1985/86
           04/09/87 03/09/87  04/09/87 03/09/87
 Start Stocks  1.61   1.51       1.37   1.36
 Production   14.20  14.13      13.65  13.66
 Imports       3.31   3.29       3.08   3.05
 Consumption  14.02  14.03      13.33  13.40
 Exports       3.33   3.35       3.15   3.16
 End Stocks    1.78   1.54       1.61   1.51
   Note - Imports and exports do not balance due to differing
marketing years and time lags between reported exports and
imports.
    Cotton (Mln Bales)
               1986/87          1985/86
          04/09/87 03/09/87  04/09/87 03/09/87
 Start Stcks 45.87   48.14    42.70   43.11
 Production  69.53   69.66    78.94   78.92
 Imports     23.07   23.07    21.49   21.45
 Mill Use    80.72   77.08    76.84   74.79
 Exports     23.37   23.50    20.25   20.28
 End Stocks  34.16   39.99    45.87   48.14
  Note - Imports and exports may not balance due to cotton in
transit and reporting discrepancies in some countries.
    Rice (Milled Basis)
                1986/87          1985/86
           04/09/87 03/09/87  04/09/87 03/09/87
 Start Stocks 24.71   24.75     22.16   22.16
 Production  317.90  318.90    320.12  320.05
 Imports      10.56   10.63     11.68   11.70
 Dom. Use    321.41  321.87    317.58  317.46
 Exports      12.11   12.22     12.49   12.39
 End Stocks   21.19   21.78     24.71   24.75
 Reuter
