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U.S. Wheat Supply-Demand Summary -- May 2007
U.S. Wheat Supply and Use 1/
===============================================================================
: : : 2007/08 Projections
Item : 2005/06 : 2006/07 :==============================
: : Est. : May
===============================================================================
Area : Million acres
Planted : 57.2 57.3 60.3 *
Harvested : 50.1 46.8 52.1 *
Yield per harvested : Bushels
acre : 42.0 38.7 41.7 *
: Million bushels
Beginning stocks : 540 571 412
Production : 2,105 1,812 2,174
Imports : 82 115 100
Supply, total : 2,727 2,498 2,685
Food : 915 925 930
Seed : 78 82 81
Feed and residual : 153 170 230
Domestic, total : 1,146 1,177 1,241
Exports : 1,009 910 975
Use, total : 2,155 2,087 2,216
Ending stocks : 571 412 469
CCC inventory : 43 41
Free stocks : 528 371
Outstanding loans : 42 15
Avg. farm price ($/bu) 2/ : 3.42 4.27 4.35- 4.95
===============================================================================
U.S. Wheat by Class: Supply and Use
===============================================================================
Year beginning : Hard : Hard : Soft : : :
June 1 : Winter : Spring : Red : White : Durum :Total
===============================================================================
2006/07 (estimated) : Million bushels
Beginning stocks : 215 132 106 78 40 571
Production : 682 432 390 254 53 1,812
Supply, total 3/ : 898 608 516 342 134 2,498
Domestic use : 481 239 282 96 78 1,177
Exports : 280 250 145 200 35 910
Use, total : 761 489 427 296 113 2,087
Ending stocks May : 137 119 89 46 21 412
Apr : 142 124 89 46 21 422
===============================================================================
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. * Planted acres reported in the March 30, 2007, Prospective
Plantings. Harvested acres and yield for other spring wheat and durum are
projected using 10-year harvested-to-planted ratios by state and projected
yield derived from 1985-2006 trend yields by state (except Idaho durum).
Winter wheat harvested acreage and yield reported in the May 11, 2007, Crop
Production.
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