USDA World Grain S&Ds 07/10
05/12/2026 | 10:59 am CDT USDA World Grain S&Ds 07/10
USDA World Grain S&Ds 07/10
WASDE - 673 - 8 July 2026
World and U.S. Supply and Use for Grains 1/
Million Metric Tons
================================================================================
Total Total Ending
Commodity Output Supply Trade 2/ Use 3/ Stocks
================================================================================
World
Total Grains 4/
2024/25 2858.00 3653.07 499.85 2877.47 775.60
2025/26 (Est.) 3013.83 3789.43 556.49 2982.34 807.09
2026/27 (Proj.)
Jun 2952.37 3763.16 524.91 2982.57 780.59
Jul 2949.10 3756.19 528.24 2984.57 771.62
Wheat
2024/25 799.68 1069.76 210.54 809.88 259.88
2025/26 (Est.) 843.77 1103.65 227.08 824.61 279.04
2026/27 (Proj.)
Jun 820.06 1100.01 211.95 824.59 275.42
Jul 819.97 1099.01 213.05 826.16 272.84
Coarse Grains 5/
2024/25 1515.97 1861.31 227.80 1536.72 324.58
2025/26 (Est.) 1624.33 1948.91 269.08 1619.06 329.86
2026/27 (Proj.)
Jun 1594.49 1929.17 249.95 1616.80 312.37
Jul 1591.95 1921.81 252.41 1615.61 306.20
Rice, milled
2024/25 542.35 722.00 61.51 530.87 191.13
2025/26 (Est.) 545.73 736.86 60.33 538.67 198.20
2026/27 (Proj.)
Jun 537.82 733.98 63.01 541.18 192.81
Jul 537.18 735.38 62.78 542.80 192.58
United States
Total Grains 4/
2024/25 452.42 528.34 101.10 359.89 67.34
2025/26 (Est.) 508.41 582.76 117.68 384.22 80.86
2026/27 (Proj.)
Jun 467.51 559.42 109.05 376.29 74.08
Jul 467.06 555.57 110.29 376.38 68.90
Wheat
2024/25 53.85 76.88 22.56 31.06 23.26
2025/26 (Est.) 54.01 80.67 24.71 30.92 25.04
2026/27 (Proj.)
Jun 42.01 71.25 21.09 29.91 20.25
Jul 41.81 70.67 21.09 29.91 19.66
Coarse Grains 5/
2024/25 391.51 441.58 75.68 323.53 42.37
2025/26 (Est.) 447.83 492.45 90.34 347.93 54.18
2026/27 (Proj.)
Jun 419.94 479.41 85.45 341.50 52.47
Jul 420.38 476.81 86.72 341.83 48.26
Rice, milled
2024/25 7.05 9.88 2.87 5.31 1.71
2025/26 (Est.) 6.56 9.65 2.64 5.37 1.64
2026/27 (Proj.)
Jun 5.56 8.76 2.51 4.89 1.36
Jul 4.87 8.09 2.48 4.64 0.98
================================================================================
WASDE - 673 - 9 July 2026
World and U.S. Supply and Use for Grains, Continued 1/
Million Metric Tons
================================================================================
Total Total Ending
Commodity Output Supply Trade 2/ Use Stocks
================================================================================
Foreign 3/
Total Grains 4/
2024/25 2405.58 3124.73 398.75 2517.58 708.26
2025/26 (Est.) 2505.42 3206.66 438.80 2598.11 726.23
2026/27 (Proj.)
Jun 2484.86 3203.74 415.86 2606.27 706.52
Jul 2482.04 3200.62 417.95 2608.19 702.73
Wheat
2024/25 745.83 992.88 187.99 778.82 236.62
2025/26 (Est.) 789.76 1022.98 202.38 793.69 253.99
2026/27 (Proj.)
Jun 778.06 1028.76 190.86 794.68 255.17
Jul 778.16 1028.34 191.96 796.25 253.18
Coarse Grains 5/
2024/25 1124.46 1419.73 152.12 1213.19 282.22
2025/26 (Est.) 1176.50 1456.46 178.73 1271.12 275.68
2026/27 (Proj.)
Jun 1174.55 1449.76 164.50 1275.31 259.90
Jul 1171.57 1445.00 165.69 1273.78 257.94
Rice, milled
2024/25 535.30 712.12 58.64 525.57 189.42
2025/26 (Est.) 539.17 727.22 57.69 533.30 196.55
2026/27 (Proj.)
Jun 532.26 725.23 60.50 536.29 191.45
Jul 532.31 727.28 60.30 538.16 191.60
================================================================================
World and U.S. Supply and Use for Cotton 1/
Million 480-lb. Bales
================================================================================
Total Total Ending
Commodity Output Supply Trade 2/ Use 3/ Stocks
================================================================================
World
2024/25 119.34 192.79 42.43 119.11 74.52
2025/26 (Est.) 121.91 196.42 44.84 119.95 75.72
2026/27 (Proj.)
Jun 116.04 192.67 43.32 121.76 71.13
Jul 117.26 192.98 43.34 121.95 71.22
United States
2024/25 14.41 17.56 11.90 1.70 4.00
2025/26 (Est.) 13.90 17.90 12.20 1.55 4.20
2026/27 (Proj.)
Jun 13.30 17.51 12.30 1.60 3.70
Jul 13.70 17.91 12.30 1.60 4.10
Foreign 4/
2024/25 104.93 175.23 30.53 117.41 70.52
2025/26 (Est.) 108.01 178.52 32.64 118.40 71.52
2026/27 (Proj.)
Jun 102.74 175.17 31.02 120.16 67.43
Jul 103.56 175.08 31.04 120.35 67.12
================================================================================
WASDE - 673 - 10 July 2026
World and U.S. Supply and Use for Oilseeds 1/
(Million Metric Tons)
================================================================================
Total Total Ending
Commodity Output Supply Trade Use 2/ Stocks
================================================================================
World
Oilseeds
2024/25 686.84 822.92 213.33 568.90 144.36
2025/26 (Est.) 700.72 845.09 216.23 589.20 146.05
2026/27 (Proj.)
Jun 718.18 864.69 217.03 606.74 146.99
Jul 719.97 865.96 218.52 608.54 146.31
Oilmeals
2024/25 392.49 411.44 114.16 382.39 22.51
2025/26 (Est.) 406.73 429.24 116.83 401.04 24.21
2026/27 (Proj.)
Jun 412.52 436.27 118.91 405.59 25.04
Jul 413.73 437.67 119.03 406.84 25.34
Vegetable Oils
2024/25 230.81 261.61 88.47 224.08 30.14
2025/26 (Est.) 238.47 268.61 88.98 231.16 30.76
2026/27 (Proj.)
Jun 244.13 274.31 91.80 237.59 30.41
Jul 244.67 275.43 92.00 238.07 31.04
United States
Oilseeds
2024/25 128.60 140.71 52.56 70.43 10.23
2025/26 (Est.) 126.17 137.58 42.57 76.00 11.00
2026/27 (Proj.)
Jun 130.38 142.82 45.48 78.86 10.34
Jul 131.58 143.74 46.42 79.07 10.09
Oilmeals
2024/25 55.27 60.70 16.60 43.65 0.45
2025/26 (Est.) 59.51 65.30 18.62 46.18 0.50
2026/27 (Proj.)
Jun 61.11 66.79 19.78 46.52 0.49
Jul 61.19 66.91 20.06 46.36 0.49
Vegetable Oils
2024/25 14.49 21.45 1.27 19.07 1.10
2025/26 (Est.) 15.35 22.49 0.60 20.74 1.16
2026/27 (Proj.)
Jun 16.17 24.77 0.32 23.28 1.17
Jul 16.24 24.84 0.32 23.34 1.18
Foreign 3/
Oilseeds
2024/25 558.24 682.21 160.78 498.47 134.13
2025/26 (Est.) 574.55 707.51 173.66 513.20 135.04
2026/27 (Proj.)
Jun 587.81 721.88 171.55 527.88 136.66
Jul 588.40 722.22 172.10 529.47 136.22
Oilmeals
2024/25 337.22 350.74 97.55 338.74 22.06
2025/26 (Est.) 347.22 363.94 98.21 354.86 23.71
2026/27 (Proj.)
Jun 351.41 369.48 99.12 359.07 24.55
Jul 352.54 370.76 98.97 360.48 24.85
Vegetable Oils
2024/25 216.32 240.16 87.20 205.00 29.03
2025/26 (Est.) 223.12 246.12 88.38 210.42 29.60
2026/27 (Proj.)
Jun 227.96 249.54 91.48 214.32 29.24
Jul 228.43 250.59 91.68 214.74 29.87
================================================================================
WASDE - 673 - 11 July 2026
U.S. Wheat Supply and Use 1/
================================================================================
2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj.
Item Jun Jul
================================================================================
Million Acres
Area Planted 46.3 45.3 43.8* 42.7
Area Harvested 38.6 37.2 32.9* 32.1
Bushels
Yield per Harvested Acre 51.2 53.3 47.0* 47.9
Million Bushels
Beginning Stocks 696 855 935 920
Production 1979 1985 1543 1536
Imports 150 125 140 140
Supply, Total 2825 2964 2618 2596
Food 969 960 960 960
Seed 61 58 59 59
Feed and Residual 111 118 80 80
Domestic, Total 1141 1136 1099 1099
Exports 829 908 775 775
Use, Total 1970 2044 1874 1874
Ending Stocks 855 920 744 722
Avg.FarmPrice ($/bu) 2/ 5.52 5.06 6.00 6.00
================================================================================
U.S. Wheat by Class: Supply and Use
================================================================================
Year begining Hard Red Hard Red Soft Red
June 1 Winter Spring Winter White Durum Total
================================================================================
Million Bushels
2025/26 (Est.)
Beginning Stocks 402 218 127 80 28 855
Production 804 458 353 283 86 1985
Imports 5 61 4 7 48 125
Supply, Total 3/ 1212 737 483 370 162 2964
Food 384 255 152 83 86 960
Seed 25 14 11 6 3 58
Feed and Residual 45 4 67 -4 7 118
Domestic Use 454 272 230 84 96 1136
Exports 321 233 122 199 33 908
Use, Total 775 505 351 284 129 2044
Ending Stocks, Total 437 232 132 86 33 920
2026/27 (Proj.)
Beginning Stocks 437 232 132 86 33 920
Production 471 436 287 271 71 1536
Imports 20 65 5 5 45 140
Supply, Total 3/ 928 733 424 362 149 2596
Food 370 268 152 84 86 960
Seed 25 14 11 6 3 59
Feed and Residual 15 10 60 -10 5 80
Domestic Use 410 292 223 80 94 1099
Exports 210 240 100 200 25 775
Use, Total 620 532 323 280 119 1874
Ending Stocks, Total
Jul 308 201 101 82 30 722
Jun NA NA NA NA NA NA
================================================================================
WASDE - 673 - 12 July 2026
U.S. Feed Grain and Corn Supply and Use 1/
================================================================================
2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj.
Item Jun Jul
================================================================================
Million Acres
FEED GRAINS
Area Planted 101.8 110.1 106.2* 106.5*
Area Harvested 91.4 100.0 95.4* 95.7*
Metric Tons
Yield per Harvested Acre 4.28 4.48 4.40 4.39
Million Metric Tons
Beginning Stocks 47.9 42.3 57.2 54.2
Production 391.1 447.5 419.7 420.1
Imports 2.0 2.1 2.1 2.1
Supply, Total 441.0 491.9 478.9 476.3
Feed and Residual 143.6 165.3 158.2 158.3
Food, Seed & Industrial 179.4 182.1 182.8 183.0
Domestic, Total 322.9 347.5 341.0 341.3
Exports 75.7 90.3 85.4 86.7
Use, Total 398.6 437.8 426.5 428.1
Ending Stocks 42.3 54.2 52.4 48.2
Million Acres
CORN
Area Planted 90.9 98.8 95.3* 95.3*
Area Harvested 83.0 91.3 87.4* 87.4*
Bushels
Yield per Harvested Acre 179.3 186.5 183.0* 183.0*
Million Bushels
Beginning Stocks 1763 1551 2145 2020
Production 14892 17021 15995 16000
Imports 22 28 25 25
Supply, Total 16677 18600 18165 18045
Feed and Residual 5438 6350 6100 6100
Food,Seed& Industrial 2/ 6815 6905 6955 6955
Ethanol & by-products 3/ 5436 5550 5600 5600
Domestic, Total 12253 13255 13055 13055
Exports 2873 3325 3150 3200
Use, Total 15126 16580 16205 16255
Ending Stocks 1551 2020 1960 1790
Avg.FarmPrice ($/bu) 4/ 4.24 4.15 4.40 4.40
================================================================================
WASDE - 673 - 13 July 2026
U.S. Sorghum, Barley, and Oats Supply and Use 1/
================================================================================
2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj.
Item Jun Jul
================================================================================
Million Bushels
SORGHUM
AreaPlanted (mil. acres) 6.3 6.6 6.1* 6.3*
AreaHarvested(mil.acres) 5.6 6.0 5.3* 5.5*
Yield (bushels/acre) 61.3 72.6 69.2* 69.3*
Beginning Stocks 33 40 37 37
Production 344 437 367 380
Imports 0 0 0 0
Supply, Total 377 477 404 417
Feed and Residual 140 100 70 70
Food, Seed & Industrial 98 120 95 105
Total Domestic 238 220 165 175
Exports 98 220 205 205
Use, Total 336 440 370 380
Ending Stocks 40 37 34 37
Avg.FarmPrice ($/bu) 2/ 4.07 3.55 4.10 4.10
BARLEY
AreaPlanted (mil. acres) 2.4 2.3 2.4* 2.4*
AreaHarvested(mil.acres) 1.9 1.8 1.9* 1.9*
Yield (bushels/acre) 76.6 80.0 78.4* 75.9*
Beginning Stocks 78 69 62 66
Production 144 141 149 142
Imports 9 7 8 8
Supply, Total 232 217 219 217
Feed and Residual 36 25 30 30
Food, Seed & Industrial 118 115 115 115
Total Domestic 154 140 145 145
Exports 9 11 9 9
Use, Total 162 151 154 154
Ending Stocks 69 66 65 63
Avg.FarmPrice ($/bu) 2/ 6.31 5.46 5.60 5.60
OATS
AreaPlanted (mil. acres) 2.2 2.4 2.4* 2.4*
AreaHarvested(mil.acres) 0.9 0.9 0.8* 0.9*
Yield (bushels/acre) 76.4 73.8 68.8* 72.1*
Beginning Stocks 36 28 29 32
Production 68 70 55 63
Imports 71 71 72 72
Supply, Total 176 169 156 167
Feed and Residual 64 51 45 50
Food, Seed & Industrial 81 82 83 83
Total Domestic 145 133 128 133
Exports 2 4 2 2
Use, Total 147 137 130 135
Ending Stocks 28 32 26 32
Avg.FarmPrice ($/bu) 2/ 3.35 3.23 3.35 3.35
================================================================================
WASDE - 673 - 14 July 2026
U.S. Rice Supply and Use 1/
(Rough Equivalent of Rough and Milled Rice)
================================================================================
2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj.
Item Jun Jul
================================================================================
Million Acres
TOTAL RICE
Area Planted 2.92 2.81 2.32* 2.02*
Area Harvested 2.87 2.74 2.27* 1.98*
Pounds
Yield per Harvested Acre 7753 7544 7732* 7746*
Million Hundredweight
Beginning Stocks 2/ 39.8 53.9 54.8 51.8
Production 222.6 206.7 175.2 153.3
Imports 49.3 43.2 45.8 49.8
Supply, Total 311.7 303.8 275.8 254.9
Domestic & Residual 3/ 167.5 169.0 154.0 146.0
Exports, Total 4/ 90.3 83.0 79.0 78.0
Rough 28.8 21.0 19.0 19.0
Milled (rough equiv.) 61.5 62.0 60.0 59.0
Use, Total 257.8 252.0 233.0 224.0
Ending Stocks 53.9 51.8 42.8 30.9
Avg.MillingYield (%) 5/ 70.00 70.00 70.00 70.00
Avg.FarmPrice($/cwt) 6/ 15.10 12.50 13.50 14.90
LONG GRAIN RICE
Harvested Acres (mil.) 2.26 2.08
Yield (pounds/acre) 7626 7359
Beginning Stocks 19.3 37.3 40.6 36.6
Imports 42.7 37.0 39.0 43.0
Production 172.0 153.3 122.5 104.1
Supply, Total 7/ 234.0 227.6 202.1 183.7
Domestic & Residual 3/ 136.0 137.0 123.0 116.0
Exports 8/ 60.7 54.0 50.0 50.0
Use, Total 196.7 191.0 173.0 166.0
Ending Stocks 37.3 36.6 29.1 17.7
Avg.FarmPrice($/cwt) 6/ 14.00 10.40 12.00 13.50
MEDIUM & SHORT GRAIN RICE
Harvested Acres (mil.) 0.62 0.66
Yield (pounds/acre) 8219 8130
Beginning Stocks 18.9 13.7 11.4 12.4
Imports 6.5 6.2 6.8 6.8
Production 50.6 53.4 52.7 49.2
Supply, Total 7/ 74.9 73.4 70.9 68.4
Domestic & Residual 3/ 31.5 32.0 31.0 30.0
Exports 8/ 29.6 29.0 29.0 28.0
Use, Total 61.1 61.0 60.0 58.0
Ending Stocks 13.7 12.4 10.9 10.4
Avg. Farm Price ($/cwt) 1/ 6/
9/ 18.50 18.60 17.90 18.70
California 10/ 18.70 20.30 20.00 20.50
Other States 1/ 15.00 14.90 13.50 15.00
================================================================================
WASDE - 673 - 15 July 2026
U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/
================================================================================
2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj.
Item Jun Jul
================================================================================
Million Acres
SOYBEANS
Area Planted 87.3 81.2 84.7* 85.4**
Area Harvested 86.2 80.4 83.7* 84.4**
Bushels
Yield per Harvested Acre 50.7 53.0 53.0* 53.0**
Million Bushels
Beginning Stocks 342 325 340 330
Production 4374 4262 4435 4475
Imports 30 25 25 25
Supply, Total 4746 4612 4800 4830
Crushings 2445 2650 2750 2750
Exports 1892 1520 1630 1660
Seed 70 74 72 72
Residual 14 38 38 38
Use, Total 4421 4282 4490 4520
Ending Stocks 325 330 310 310
Avg.FarmPrice ($/bu) 2/ 10.00 10.40 11.40 11.40
Million Pounds
SOYBEAN OIL
Beginning Stocks 1551 1747 1837 1837
Production 4/ 29218 30855 32590 32590
Imports 362 330 600 600
Supply, Total 31131 32932 35027 35027
Domestic Disappearance 26912 30095 32750 32750
Biofuel 3/ 11758 14550 17800 17800
Food, Feed & other
Industrial 15154 15545 14950 14950
Exports 2472 1000 400 400
Use, Total 29384 31095 33150 33150
Ending stocks 1747 1837 1877 1877
Avg. Price (c/lb) 2/ 47.59 64.00 70.00 70.00
Thousand Short Tons
SOYBEAN MEAL
Beginning Stocks 453 398 450 450
Production 4/ 58443 63037 65025 64985
Imports 806 840 800 840
Supply, Total 59703 64275 66275 66275
Domestic Disappearance 41232 43525 44125 43825
Exports 18073 20300 21700 22000
Use, Total 59305 63825 65825 65825
Ending Stocks 398 450 450 450
Avg. Price ($/s.t.) 2/ 299.77 315.00 310.00 310.00
================================================================================
WASDE - 673 - 16 July 2026
U.S. Sugar Supply and Use 1/
================================================================================
2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj.
Item Jun Jul
================================================================================
1000 Short Tons, Raw Value
Beginning Stocks 2141 2376 1851 1686
Production 2/ 9397 9185 9063 9004
Beet Sugar 5370 4996 4939 4821
Cane Sugar 4027 4189 4125 4182
Florida 1932 1957 1979 2016
Louisiana 2095 2232 2146 2166
Texas 0 0 0 0
Imports 3393 2696 3260 3579
TRQ 3/ 1534 1316 1422 1422
Other Program 4/ 373 325 300 300
Non-program 1485 1055 1538 1856
Mexico 504 220 1046 1346
High-tier tariff/other 980 835 492 510
Total Supply 14931 14257 14174 14268
Exports 111 25 25 25
Deliveries 12485 12546 12490 12546
Food 12375 12441 12385 12441
Other 5/ 111 105 105 105
Miscellaneous -41 0 0 0
Total Use 12555 12571 12515 12571
Ending Stocks 2376 1686 1660 1697
Stocks to Use Ratio 18.9 13.4 13.3 13.5
================================================================================
Mexico Sugar Supply and Use and High Fructose Corn Syrup Consumption 1/
================================================================================
Supply Use
Fiscal Beginning Produc- Imports Domestic Exports Ending
Year Stocks tion 2/ Stocks
================================================================================
1000 Metric Tons, Actual Weight
Sugar
2025/26 Est.
Jun 1123 5236 52 4297 938 1176
Jul 1123 5310 42 4241 1040 1195
2026/27 Proj.
Jun 1176 5283 28 4226 1198 1063
Jul 1195 5377 28 4226 1292 1082
================================================================================
WASDE - 673 - 17 July 2026
U.S. Cotton Supply and Use 1/
================================================================================
2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj.
Item Jun Jul
================================================================================
Million Acres
Planted 11.18 9.28 9.64* 9.85**
Harvested 7.76 7.83 7.38* 7.54**
Pounds
Yield per Harvested
Acre 892 852 866* 872**
Million 480 Pound Bales
Beginning Stocks 3.15 4.00 4.20 4.20
Production 14.41 13.90 13.30 13.70
Imports 0.00 0.01 0.01 0.01
Supply, Total 17.56 17.90 17.51 17.91
Domestic Use 1.70 1.55 1.60 1.60
Exports, Total 11.90 12.20 12.30 12.30
Use, Total 13.60 13.75 13.90 13.90
Unaccounted 2/ -0.04 -0.05 -0.10 -0.10
Ending Stocks 4.00 4.20 3.70 4.10
Avg. Farm Price 3/ 63.2 62.5 73.0 73.0
================================================================================
WASDE - 673 - 18 July 2026
World Wheat Supply and Use 1/
(Million Metric Tons)
================================================================================
Supply Use
Region Beginning Produc- Domestic 2/ Ending
Stocks tion Imports Feed Total Exports Stocks
================================================================================
2024/25
World 3/ 270.08 799.68 200.94 157.32 809.88 210.54 259.88
World Less China 135.56 659.58 196.77 124.32 659.88 209.53 132.11
United States 18.95 53.85 4.07 3.02 31.06 22.56 23.26
Total Foreign 251.12 745.83 196.86 154.31 778.82 187.99 236.62
Major Exporters 4/ 41.36 314.61 11.93 73.96 181.56 152.99 33.35
Argentina 4.54 18.51 0.01 0.25 7.15 13.31 2.60
Australia 2.41 34.11 0.22 5.60 9.10 23.65 3.99
Canada 5.29 35.94 0.61 3.01 8.31 29.35 4.18
European Union 5/ 15.92 121.06 10.72 44.50 108.50 27.92 11.27
Russia 11.69 81.60 0.30 17.00 40.00 43.00 10.59
Ukraine 1.51 23.40 0.07 3.60 8.50 15.75 0.73
Major Importers 6/ 177.61 211.37 121.01 51.60 327.25 16.27 166.46
Bangladesh 1.28 1.10 5.80 0.20 7.40 0.00 0.78
Brazil 1.69 7.89 7.20 0.70 12.20 1.89 2.69
China 134.52 140.10 4.17 33.00 150.00 1.02 127.78
Japan 1.09 1.07 5.57 0.73 6.28 0.34 1.12
N. Africa 7/ 11.54 15.84 31.68 1.35 46.15 2.51 10.39
Nigeria 0.45 0.13 6.31 0.00 5.90 0.38 0.60
Sel. Mideast 8/ 12.53 23.56 17.59 2.99 40.53 0.68 12.46
Southeast Asia 9/ 4.56 0.00 29.17 9.40 28.26 1.45 4.03
Selected Other
India 7.50 113.29 0.16 6.00 108.96 0.19 11.80
Kazakhstan 3.45 18.58 0.50 3.90 9.00 10.19 3.33
United Kingdom 3.26 11.15 3.81 6.83 15.03 0.50 2.69
2025/26 Est.
World 3/ 259.88 843.77 222.01 169.31 824.61 227.08 279.04
World Less China 132.11 703.70 216.21 136.31 674.61 226.08 156.39
United States 23.26 54.01 3.40 3.22 30.92 24.71 25.04
Total Foreign 236.62 789.76 218.62 166.09 793.69 202.38 253.99
Major Exporters 4/ 33.35 363.37 8.47 83.10 191.85 167.00 46.34
Argentina 2.60 27.92 0.01 0.80 7.90 18.50 4.13
Australia 3.99 35.99 0.23 6.00 9.60 25.00 5.61
Canada 4.18 39.96 0.63 3.50 8.85 30.00 5.91
European Union 5/ 11.27 145.11 7.20 51.00 115.50 31.50 16.58
Russia 10.59 90.30 0.30 18.00 41.20 48.00 11.99
Ukraine 0.73 24.10 0.10 3.80 8.80 14.00 2.13
Major Importers 6/ 166.46 205.53 139.95 53.27 333.09 15.21 163.65
Bangladesh 0.78 1.05 7.80 0.30 8.00 0.00 1.63
Brazil 2.69 7.87 6.40 0.75 12.41 1.84 2.71
China 127.78 140.07 5.80 33.00 150.00 1.00 122.65
Japan 1.12 1.06 5.70 0.78 6.36 0.34 1.19
N. Africa 7/ 10.39 17.42 35.70 1.65 47.85 2.16 13.50
Nigeria 0.60 0.13 5.70 0.00 5.80 0.40 0.23
Sel. Mideast 8/ 12.46 19.35 22.38 2.89 41.23 0.83 12.13
Southeast Asia 9/ 4.03 0.00 33.85 11.25 31.40 1.42 5.06
Selected Other
India 11.80 117.95 0.13 6.00 107.84 0.24 21.80
Kazakhstan 3.33 19.33 1.40 4.40 9.55 11.50 3.00
United Kingdom 2.69 12.30 3.50 7.50 15.30 0.50 2.69
================================================================================
WASDE - 673 - 19 July 2026
World Wheat Supply and Use 1/ (Contd.)
(Million Metric Tons)
================================================================================
Supply Use
Region Beginning Produc- Domestic 2/ Ending
Stocks tion Imports Feed Total Exports Stocks
================================================================================
2026/27 Proj.
World 3/
Jun 279.95 820.06 207.29 162.21 824.59 211.95 275.42
Jul 279.04 819.97 208.17 162.26 826.16 213.05 272.84
World Less China
Jun 157.10 679.06 201.29 131.21 676.59 210.95 154.58
Jul 156.39 678.97 202.17 131.26 678.16 212.05 152.20
United States
Jun 25.44 42.01 3.81 2.18 29.91 21.09 20.25
Jul 25.04 41.81 3.81 2.18 29.91 21.09 19.66
Total Foreign
Jun 254.51 778.06 203.48 160.04 794.68 190.86 255.17
Jul 253.99 778.16 204.36 160.09 796.25 191.96 253.18
Major Exporters 4/
Jun 46.61 331.50 7.75 79.95 189.10 156.50 40.26
Jul 46.34 331.50 7.80 79.95 189.10 157.50 39.03
Argentina
Jun 4.13 21.00 0.01 0.25 7.45 14.50 3.19
Jul 4.13 21.00 0.01 0.25 7.45 15.00 2.69
Australia
Jun 5.61 28.00 0.24 5.00 8.65 22.00 3.19
Jul 5.61 28.00 0.24 5.00 8.65 22.00 3.19
Canada
Jun 5.88 35.00 0.60 3.50 8.85 28.00 4.63
Jul 5.91 34.00 0.65 3.50 8.85 27.50 4.21
European Union 5/
Jun 16.88 136.00 6.50 49.00 113.75 31.00 14.63
Jul 16.58 136.00 6.50 49.00 113.75 31.00 14.33
Russia
Jun 11.99 88.00 0.30 18.00 41.20 47.00 12.09
Jul 11.99 88.50 0.30 18.00 41.20 47.50 12.09
Ukraine
Jun 2.13 23.50 0.10 4.20 9.20 14.00 2.53
Jul 2.13 24.00 0.10 4.20 9.20 14.50 2.53
Major Importers 6/
Jun 164.06 220.90 129.53 51.43 333.85 15.20 165.44
Jul 163.65 220.90 129.99 51.48 334.48 15.20 164.86
Bangladesh
Jun 1.63 1.05 7.70 0.31 8.71 0.00 1.67
Jul 1.63 1.05 7.70 0.31 8.71 0.00 1.67
Brazil
Jun 2.71 6.70 7.20 0.80 12.50 2.00 2.11
Jul 2.71 6.70 7.20 0.80 12.50 2.00 2.11
China
Jun 122.85 141.00 6.00 31.00 148.00 1.00 120.85
Jul 122.65 141.00 6.00 31.00 148.00 1.00 120.65
Japan
Jun 1.22 1.13 5.55 0.75 6.35 0.34 1.21
Jul 1.19 1.13 5.55 0.75 6.35 0.34 1.18
N. Africa 7/
Jun 13.70 23.10 29.60 1.98 49.18 2.45 14.78
Jul 13.50 23.10 29.60 1.98 49.18 2.45 14.58
Nigeria
Jun 0.23 0.14 6.20 0.00 5.80 0.40 0.37
Jul 0.23 0.14 6.20 0.00 5.80 0.40 0.37
Sel. Mideast 8/
Jun 11.83 23.24 19.58 2.95 41.57 0.68 12.40
Jul 12.13 23.24 19.94 2.95 42.10 0.68 12.54
Southeast Asia 9/
Jun 5.01 0.00 31.60 10.25 30.75 1.44 4.42
Jul 5.06 0.00 31.70 10.30 30.85 1.44 4.47
India
Jun 22.00 121.00 0.10 7.50 111.10 2.00 30.00
Jul 21.80 121.00 0.10 7.50 111.40 2.00 29.50
Kazakhstan
Jun 2.98 15.00 0.70 2.50 7.68 9.00 2.00
Jul 3.00 15.00 0.70 2.50 7.68 9.00 2.03
United Kingdom
Jun 2.69 13.50 2.50 7.50 15.50 0.60 2.59
Jul 2.69 13.50 2.50 7.50 15.50 0.60 2.59
================================================================================
WASDE - 673 - 20 July 2026
World Coarse Grain Supply and Use 1/
(Million Metric Tons)
================================================================================
Supply Use
Region Beginning Produc- Domestic 2/ Ending
Stocks tion Imports Feed Total Exports Stocks
================================================================================
2024/25
World 3/ 345.34 1515.97 225.88 942.87 1536.72 227.80 324.58
World Less China 131.88 1212.50 207.64 693.12 1194.65 227.79 131.50
United States 47.87 391.51 2.19 143.70 323.53 75.68 42.37
Total Foreign 297.46 1124.46 223.69 799.18 1213.19 152.12 282.22
Major Exporters 4/ 21.41 332.34 5.07 140.59 203.90 125.40 29.52
Argentina 3.60 57.46 0.01 15.07 21.28 33.79 5.99
Australia 1.83 17.70 0.00 4.80 6.67 11.37 1.48
Brazil 8.09 143.59 2.83 71.00 99.93 42.14 12.44
Canada 3.91 27.52 1.87 14.85 22.92 6.90 3.48
Russia 1.71 34.78 0.10 20.43 28.40 6.77 1.41
Ukraine 1.27 33.47 0.02 8.23 11.06 22.35 1.35
Major Importers 5/ 38.48 228.40 155.15 286.27 375.76 11.29 34.98
European Union 6/ 15.22 137.22 20.17 110.25 149.94 9.16 13.51
Japan 1.45 0.20 16.72 13.16 16.85 0.00 1.52
Mexico 6.28 28.27 27.06 32.55 55.48 0.03 6.11
N. Afr & Mideast 7/ 8.35 30.98 45.50 67.40 76.30 1.56 6.96
Saudi Arabia 1.41 0.27 8.44 8.37 8.71 0.00 1.41
Southeast Asia 8/ 3.18 31.18 21.27 40.87 52.22 0.54 2.87
South Korea 2.06 0.16 11.56 9.30 11.64 0.00 2.15
Selected Other
China 213.46 303.47 18.24 249.75 342.08 0.01 193.09
2025/26 Est.
World 3/ 324.58 1624.33 243.54 991.29 1619.06 269.07 329.86
World Less China 131.50 1314.14 217.84 732.76 1268.21 269.05 151.76
United States 42.37 447.83 2.25 165.35 347.93 90.34 54.18
Total Foreign 282.22 1176.50 241.29 825.94 1271.12 178.73 275.68
Major Exporters 4/ 29.52 363.62 5.02 144.26 214.27 150.67 33.23
Argentina 5.99 71.76 0.01 15.84 22.23 50.10 5.43
Australia 1.48 21.25 0.00 5.14 7.01 13.88 1.84
Brazil 12.44 146.10 2.75 71.23 105.16 43.09 13.05
Canada 3.48 29.41 2.04 15.73 24.06 6.91 3.95
Russia 1.41 39.35 0.10 21.93 30.50 8.82 1.54
Ukraine 1.35 37.22 0.02 6.85 10.01 24.55 4.03
Major Importers 5/ 34.98 233.93 165.04 295.62 384.67 12.68 36.61
European Union 6/ 13.51 143.48 19.86 111.73 151.09 11.17 14.59
Japan 1.52 0.25 16.86 13.40 17.11 0.00 1.51
Mexico 6.11 28.79 28.16 33.42 56.60 0.03 6.43
N. Afr & Mideast 7/ 6.96 29.73 51.67 71.16 80.05 0.92 7.40
Saudi Arabia 1.41 0.27 9.67 9.63 9.97 0.00 1.39
Southeast Asia 8/ 2.87 31.15 22.48 42.23 53.18 0.56 2.75
South Korea 2.15 0.16 11.61 9.44 11.78 0.00 2.14
Selected Other
China 193.09 310.19 25.70 258.53 350.85 0.03 178.10
================================================================================
WASDE - 673 - 21 July 2026
World Coarse Grain Supply and Use 1/ (Contd.)
(Million Metric Tons)
================================================================================
Supply Use
Region Beginning Produc- Domestic 2/ Ending
Stocks tion Imports Feed Total Exports Stocks
================================================================================
2026/27 Proj.
World 3/
Jun 334.69 1594.49 239.73 998.37 1616.80 249.95 312.37
Jul 329.86 1591.95 244.10 999.18 1615.61 252.41 306.20
World Less China
Jun 155.58 1278.54 215.03 737.82 1263.93 249.93 145.52
Jul 151.76 1276.00 219.20 738.43 1262.54 252.39 140.35
United States
Jun 57.22 419.94 2.25 158.26 341.50 85.45 52.47
Jul 54.18 420.38 2.25 158.34 341.83 86.72 48.26
Total Foreign
Jun 277.46 1174.55 237.48 840.10 1275.31 164.50 259.90
Jul 275.68 1171.57 241.85 840.84 1273.78 165.69 257.94
Major Exporters 4/
Jun 33.90 349.60 5.27 147.03 218.09 139.45 31.24
Jul 33.23 351.50 5.27 147.24 218.40 140.74 30.87
Argentina
Jun 5.43 64.22 0.01 15.03 21.57 43.40 4.68
Jul 5.43 64.22 0.01 15.03 21.57 43.40 4.68
Australia
Jun 2.04 18.45 0.00 6.00 7.88 10.28 2.33
Jul 1.84 18.45 0.00 6.00 7.88 10.28 2.13
Brazil
Jun 12.95 147.21 2.90 72.25 107.08 44.11 11.87
Jul 13.05 147.21 2.90 72.25 107.18 44.11 11.87
Canada
Jun 3.95 27.54 2.14 15.89 24.07 5.98 3.59
Jul 3.95 29.44 2.14 16.19 24.37 7.28 3.89
Russia
Jun 1.63 38.87 0.10 22.60 31.02 7.98 1.61
Jul 1.54 38.87 0.10 22.50 30.92 7.98 1.62
Ukraine
Jun 4.51 36.28 0.01 7.73 11.09 25.49 4.22
Jul 4.03 36.28 0.01 7.74 11.11 25.48 3.73
Major Importers 5/
Jun 36.84 238.13 163.39 300.79 390.96 10.81 36.59
Jul 36.61 234.76 166.69 300.99 391.16 10.81 36.08
European Union 6/
Jun 14.82 139.16 20.45 110.64 150.11 9.56 14.76
Jul 14.59 135.44 23.45 110.24 149.71 9.56 14.20
Japan
Jun 1.51 0.25 16.76 13.26 16.95 0.00 1.58
Jul 1.51 0.25 16.76 13.26 16.95 0.00 1.58
Mexico
Jun 6.43 29.35 28.70 35.55 59.18 0.02 5.27
Jul 6.43 29.70 28.70 35.85 59.48 0.02 5.32
N. Afr & Mideast 7/
Jun 7.40 37.58 47.21 73.79 83.04 0.66 8.49
Jul 7.40 37.58 47.51 74.09 83.34 0.66 8.49
Saudi Arabia
Jun 1.39 0.27 9.01 8.96 9.30 0.00 1.36
Jul 1.39 0.27 9.01 8.96 9.30 0.00 1.36
Southeast Asia 8/
Jun 2.75 31.25 25.03 44.68 55.88 0.57 2.59
Jul 2.75 31.25 25.03 44.68 55.88 0.57 2.59
South Korea
Jun 2.14 0.16 11.61 9.39 11.73 0.00 2.18
Jul 2.14 0.16 11.61 9.39 11.73 0.00 2.18
China
Jun 179.10 315.95 24.70 260.55 352.88 0.03 166.85
Jul 178.10 315.95 24.90 260.75 353.08 0.03 165.85
================================================================================
WASDE - 673 - 22 July 2026
World Corn Supply and Use 1/
(Million Metric Tons)
================================================================================
Supply Use
Region Beginning Produc- Domestic 2/ Ending
Stocks tion Imports Feed Total Exports Stocks
================================================================================
2024/25
World 3/ 313.87 1233.92 186.15 783.97 1251.58 187.48 296.21
World Less China 102.68 939.00 184.33 549.97 935.58 187.48 104.28
United States 44.79 378.27 0.55 138.12 311.24 72.97 39.40
Total Foreign 269.08 855.65 185.60 645.85 940.34 114.52 256.80
Major Exporters 4/ 11.77 243.07 1.94 97.96 139.06 96.15 21.58
Argentina 2.46 49.00 0.01 12.70 17.10 29.07 5.30
Brazil 7.35 136.00 1.76 64.00 91.50 42.01 11.60
Russia 0.76 14.00 0.05 9.80 10.90 3.00 0.91
South Africa 0.65 17.27 0.11 6.16 13.06 2.05 2.93
Ukraine 0.54 26.80 0.02 5.30 6.50 20.02 0.84
Major Importers 5/ 21.40 121.05 107.30 164.50 226.50 3.33 19.91
Egypt 1.43 7.00 10.56 14.70 17.30 0.00 1.69
European Union 6/ 7.29 59.59 18.76 56.00 77.00 2.76 5.88
Japan 1.30 0.02 15.46 12.10 15.40 0.00 1.37
Mexico 5.63 23.10 25.93 27.50 49.10 0.03 5.53
Southeast Asia 7/ 3.17 31.13 20.80 40.60 51.70 0.54 2.86
South Korea 2.04 0.09 11.44 9.25 11.45 0.00 2.13
Selected Other
Canada 2.00 15.35 1.69 8.58 14.44 3.00 1.58
China 211.19 294.92 1.82 234.00 316.00 0.00 191.93
2025/26 Est.
World 3/ 296.21 1327.70 196.73 825.49 1325.24 220.66 298.67
World Less China 104.28 1026.46 191.73 586.49 1004.24 220.64 121.52
United States 39.40 432.34 0.71 161.30 336.69 84.46 51.31
Total Foreign 256.80 895.36 196.01 664.19 988.54 136.20 247.36
Major Exporters 4/ 21.58 264.70 1.77 100.20 146.60 118.40 23.04
Argentina 5.30 63.00 0.01 14.00 18.60 45.00 4.71
Brazil 11.60 138.00 1.70 64.00 96.00 43.00 12.30
Russia 0.91 14.80 0.05 9.80 10.90 4.10 0.76
South Africa 2.93 18.00 0.00 7.40 14.60 3.30 3.03
Ukraine 0.84 30.90 0.01 5.00 6.50 23.00 2.25
Major Importers 5/ 19.91 119.51 112.15 167.85 229.25 2.69 19.63
Egypt 1.69 6.70 13.00 16.70 19.40 0.00 1.99
European Union 6/ 5.88 56.80 18.50 53.50 74.00 2.10 5.08
Japan 1.37 0.02 15.50 12.20 15.50 0.00 1.39
Mexico 5.53 24.70 27.00 29.50 51.30 0.03 5.90
Southeast Asia 7/ 2.86 31.10 22.00 41.95 52.65 0.56 2.75
South Korea 2.13 0.09 11.50 9.40 11.60 0.00 2.12
Selected Other
Canada 1.58 14.87 1.90 8.60 14.50 2.10 1.75
China 191.93 301.24 5.00 239.00 321.00 0.02 177.15
================================================================================
WASDE - 673 - 23 July 2026
World Corn Supply and Use 1/ (Contd.)
(Million Metric Tons)
================================================================================
Supply Use
Region Beginning Produc- Domestic 2/ Ending
Stocks tion Imports Feed Total Exports Stocks
================================================================================
2026/27 Proj.
World 3/
Jun 303.36 1300.38 199.63 832.56 1322.52 207.61 281.22
Jul 298.67 1297.09 204.00 833.08 1320.49 209.88 275.26
World Less China
Jun 125.21 993.38 193.63 589.56 997.52 207.59 115.09
Jul 121.52 990.09 198.00 590.08 995.49 209.86 110.14
United States
Jun 54.48 406.29 0.64 154.95 331.61 80.01 49.78
Jul 51.31 406.42 0.64 154.95 331.61 81.28 45.46
Total Foreign
Jun 248.88 894.09 199.00 677.61 990.91 127.60 231.44
Jul 247.36 890.67 203.37 678.13 988.88 128.60 229.80
Major Exporters 4/
Jun 23.65 256.30 1.87 101.50 149.40 111.20 21.21
Jul 23.04 256.30 1.87 101.40 149.30 111.20 20.71
Argentina
Jun 4.71 55.00 0.01 13.00 17.70 38.00 4.01
Jul 4.71 55.00 0.01 13.00 17.70 38.00 4.01
Brazil
Jun 12.30 139.00 1.80 65.00 98.00 44.00 11.10
Jul 12.30 139.00 1.80 65.00 98.00 44.00 11.10
Russia
Jun 0.86 15.80 0.05 10.60 11.80 4.00 0.91
Jul 0.76 15.80 0.05 10.50 11.70 4.00 0.91
South Africa
Jun 3.03 16.50 0.00 7.40 14.70 2.20 2.63
Jul 3.03 16.50 0.00 7.40 14.70 2.20 2.63
Ukraine
Jun 2.75 30.00 0.01 5.50 7.20 23.00 2.56
Jul 2.25 30.00 0.01 5.50 7.20 23.00 2.06
Major Importers 5/
Jun 19.63 120.52 116.50 173.45 235.40 2.49 18.77
Jul 19.63 116.80 119.50 173.05 235.00 2.49 18.44
Egypt
Jun 1.99 7.00 13.20 17.40 20.10 0.00 2.09
Jul 1.99 7.00 13.20 17.40 20.10 0.00 2.09
European Union 6/
Jun 5.08 57.50 19.50 54.40 74.80 1.90 5.38
Jul 5.08 53.78 22.50 54.00 74.40 1.90 5.06
Japan
Jun 1.39 0.02 15.50 12.20 15.50 0.00 1.41
Jul 1.39 0.02 15.50 12.20 15.50 0.00 1.41
Mexico
Jun 5.90 24.60 27.70 31.20 53.40 0.02 4.78
Jul 5.90 24.60 27.70 31.20 53.40 0.02 4.78
Southeast Asia 7/
Jun 2.75 31.20 24.55 44.40 55.35 0.57 2.58
Jul 2.75 31.20 24.55 44.40 55.35 0.57 2.58
South Korea
Jun 2.12 0.09 11.50 9.35 11.55 0.00 2.17
Jul 2.12 0.09 11.50 9.35 11.55 0.00 2.17
Canada
Jun 1.75 14.50 2.00 8.80 14.70 1.90 1.65
Jul 1.75 16.30 2.00 9.20 15.10 3.00 1.95
China
Jun 178.15 307.00 6.00 243.00 325.00 0.02 166.13
Jul 177.15 307.00 6.00 243.00 325.00 0.02 165.13
================================================================================
WASDE - 673 - 24 July 2026
World Rice Supply and Use (Milled Basis) 1/
(Million Metric Tons)
================================================================================
Supply Use
Region Beginning Produc- Total 2/ Ending
Stocks tion Imports Domestic Exports Stocks
================================================================================
2024/25
World 3/ 179.65 542.35 57.98 530.87 61.51 191.13
World Less China 76.65 397.08 55.65 385.91 60.35 86.63
United States 1.27 7.05 1.56 5.30 2.87 1.71
Total Foreign 178.39 535.30 56.42 525.57 58.64 189.42
Major Exporters 4/ 49.98 219.50 3.60 169.96 46.45 56.67
Burma 1.22 11.90 0.01 9.60 2.57 0.95
India 42.00 150.18 0.00 121.36 22.83 48.00
Pakistan 1.22 9.72 0.02 4.20 5.13 1.63
Thailand 2.21 20.84 0.05 12.50 7.86 2.75
Vietnam 3.34 26.85 3.53 22.30 8.06 3.35
Major Importers 5/ 118.08 239.52 23.22 257.81 1.51 121.50
China 103.00 145.28 2.34 144.96 1.15 104.50
European Union 6/ 0.60 1.60 2.53 3.50 0.34 0.89
Indonesia 6.17 34.10 0.81 35.50 0.00 5.58
Nigeria 1.41 5.75 3.30 8.30 0.00 2.16
Philippines 3.40 12.37 5.42 17.40 0.00 3.79
Sel. Mideast 7/ 1.41 2.28 5.57 7.05 0.00 2.21
Selected Other
Brazil 0.34 8.68 0.95 7.40 1.37 1.19
C. Amer & Carib 8/ 0.54 1.43 1.93 3.22 0.09 0.59
Egypt 0.46 3.90 0.16 4.05 0.15 0.31
Japan 1.60 7.29 0.84 8.05 0.05 1.63
Mexico 0.12 0.16 0.89 1.00 0.03 0.15
South Korea 1.21 3.59 0.33 4.25 0.19 0.68
2025/26 Est.
World 3/ 191.13 545.73 56.91 538.67 60.33 198.20
World Less China 86.63 399.40 53.01 391.44 58.33 92.70
United States 1.71 6.56 1.37 5.37 2.64 1.64
Total Foreign 189.42 539.17 55.54 533.30 57.69 196.55
Major Exporters 4/ 56.67 222.92 3.38 173.27 45.40 64.29
Burma 0.95 12.00 0.01 9.30 2.30 1.35
India 48.00 154.02 0.00 124.52 23.50 54.00
Pakistan 1.63 10.00 0.02 4.50 4.50 2.64
Thailand 2.75 20.70 0.05 12.70 7.00 3.80
Vietnam 3.35 26.20 3.30 22.25 8.10 2.50
Major Importers 5/ 121.50 241.71 21.59 261.40 2.45 120.94
China 104.50 146.33 3.90 147.23 2.00 105.50
European Union 6/ 0.89 1.77 2.30 3.60 0.40 0.96
Indonesia 5.58 33.80 0.50 35.30 0.00 4.58
Nigeria 2.16 5.90 2.80 8.60 0.00 2.27
Philippines 3.79 12.35 4.20 17.60 0.00 2.74
Sel. Mideast 7/ 2.21 2.23 4.68 7.13 0.00 1.98
Selected Other
Brazil 1.19 7.60 0.93 7.35 1.40 0.96
C. Amer & Carib 8/ 0.59 1.35 1.94 3.24 0.09 0.56
Egypt 0.31 4.20 0.20 4.10 0.18 0.44
Japan 1.63 7.48 0.80 7.95 0.07 1.90
Mexico 0.15 0.18 0.80 1.01 0.01 0.12
South Korea 0.68 3.54 0.41 3.85 0.18 0.60
================================================================================
WASDE - 673 - 25 July 2026
World Rice Supply and Use (Milled Basis) 1/ (Contd.)
(Million Metric Tons)
================================================================================
Supply Use
Region Beginning Produc- Total 2/ Ending
Stocks tion Imports Domestic Exports Stocks
================================================================================
2026/27 Proj.
World 3/
Jun 196.16 537.82 59.70 541.18 63.01 192.81
Jul 198.20 537.18 60.20 542.80 62.78 192.58
World Less China
Jun 91.16 390.82 56.40 396.08 60.81 84.81
Jul 92.70 390.18 56.30 395.60 60.58 85.58
United States
Jun 1.74 5.56 1.45 4.89 2.51 1.36
Jul 1.64 4.87 1.58 4.64 2.48 0.98
Total Foreign
Jun 194.43 532.26 58.24 536.29 60.50 191.45
Jul 196.55 532.31 58.62 538.16 60.30 191.60
Major Exporters 4/
Jun 62.68 217.00 4.08 176.70 47.60 59.45
Jul 64.29 217.00 3.88 176.80 47.70 60.67
Burma
Jun 1.05 11.00 0.01 9.00 2.10 0.96
Jul 1.35 11.00 0.01 9.10 2.10 1.16
India
Jun 53.00 150.00 0.00 128.00 25.00 50.00
Jul 54.00 150.00 0.00 128.00 25.00 51.00
Pakistan
Jun 2.43 9.60 0.02 4.60 5.00 2.45
Jul 2.64 9.60 0.02 4.70 5.00 2.56
Thailand
Jun 3.80 20.30 0.05 12.80 7.50 3.85
Jul 3.80 20.30 0.05 12.80 7.50 3.85
Vietnam
Jun 2.40 26.10 4.00 22.30 8.00 2.20
Jul 2.50 26.10 3.80 22.20 8.10 2.10
Major Importers 5/
Jun 120.51 241.78 22.75 260.25 2.65 122.13
Jul 120.94 241.78 23.25 262.35 2.65 120.97
China
Jun 105.00 147.00 3.30 145.10 2.20 108.00
Jul 105.50 147.00 3.90 147.20 2.20 107.00
European Union 6/
Jun 0.96 1.73 2.35 3.70 0.41 0.93
Jul 0.96 1.73 2.35 3.70 0.41 0.93
Indonesia
Jun 4.58 33.60 0.50 35.00 0.00 3.68
Jul 4.58 33.60 0.50 35.00 0.00 3.68
Nigeria
Jun 2.27 5.67 2.90 8.80 0.00 2.04
Jul 2.27 5.67 2.90 8.80 0.00 2.04
Philippines
Jun 2.79 12.40 5.60 17.80 0.00 2.99
Jul 2.74 12.40 5.60 17.90 0.00 2.84
Sel. Mideast 7/
Jun 1.98 2.23 4.70 7.25 0.00 1.66
Jul 1.98 2.23 4.70 7.25 0.00 1.66
Brazil
Jun 0.96 7.40 0.95 7.30 1.40 0.61
Jul 0.96 7.40 0.95 7.30 1.40 0.61
C. Amer & Carib 8/
Jun 0.56 1.33 2.06 3.32 0.08 0.56
Jul 0.56 1.33 2.06 3.32 0.08 0.56
Egypt
Jun 0.41 4.20 0.20 4.15 0.20 0.46
Jul 0.44 4.20 0.20 4.18 0.20 0.46
Japan
Jun 1.90 7.38 0.70 8.05 0.08 1.85
Jul 1.90 7.38 0.70 8.05 0.08 1.85
Mexico
Jun 0.12 0.20 0.83 1.02 0.01 0.11
Jul 0.12 0.19 0.83 1.02 0.01 0.10
South Korea
Jun 0.67 3.52 0.41 3.78 0.18 0.65
Jul 0.60 3.49 0.41 3.78 0.18 0.55
================================================================================
WASDE - 673 - 26 July 2026
World Cotton Supply and Use 1/
(Million 480-Pound Bales)
================================================================================
Supply Use
Region Beginning Produc- Loss Ending
Stocks tion Imports Domestic Exports 2/ Stocks
================================================================================
2024/25
World 73.45 119.34 43.03 119.11 42.43 -0.23 74.52
World Less China 36.74 87.34 37.85 80.11 42.37 -0.23 39.68
United States 3.15 14.41 3/ 1.70 11.90 -0.04 4.00
Total Foreign 70.30 104.93 43.03 117.41 30.53 -0.19 70.52
Major Exporters 4/ 24.27 58.82 4.29 35.07 26.52 -0.19 25.97
Central Asia 5/ 3.13 5.09 0.10 3.94 1.47 0.00 2.91
Afr. Fr. Zone 6/ 1.29 4.44 3/ 0.10 4.27 0.00 1.37
S. Hemis. 7/ 10.19 24.70 0.15 4.36 19.13 -0.19 11.73
Australia 4.22 5.60 3/ 0.00 5.21 -0.19 4.80
Brazil 2.97 17.00 3/ 3.26 13.02 0.00 3.70
India 9.30 24.00 3.04 25.50 1.33 0.00 9.52
Major Importers 8/ 43.86 43.35 35.91 77.80 3.01 0.00 42.31
Mexico 0.24 1.00 0.60 1.35 0.18 0.00 0.31
China 36.71 32.00 5.19 39.00 0.06 0.00 34.84
European Union 9/ 0.27 1.24 0.41 0.46 1.27 0.00 0.19
Turkey 1.40 3.95 4.46 7.10 1.43 0.00 1.28
Pakistan 1.85 5.00 6.10 10.60 0.05 0.00 2.30
Indonesia 0.40 3/ 1.98 1.95 0.02 0.00 0.41
Thailand 0.09 3/ 0.51 0.50 0.00 0.00 0.11
Bangladesh 1.71 0.15 8.05 8.20 0.00 0.00 1.71
Vietnam 1.03 3/ 7.98 8.00 0.00 0.00 1.02
2025/26 Est.
World 74.52 121.91 43.91 119.95 44.84 -0.19 75.72
World Less China 39.68 86.11 36.91 78.95 44.77 -0.19 39.16
United States 4.00 13.90 0.01 1.55 12.20 -0.05 4.20
Total Foreign 70.52 108.01 43.91 118.40 32.64 -0.14 71.52
Major Exporters 4/ 25.97 59.04 6.05 36.24 29.16 -0.16 25.82
Central Asia 5/ 2.91 5.73 0.25 4.93 1.62 0.00 2.34
Afr. Fr. Zone 6/ 1.37 4.03 3/ 0.11 4.07 0.00 1.23
S. Hemis. 7/ 11.73 25.00 0.15 4.46 22.08 -0.16 10.50
Australia 4.80 4.50 3/ 0.00 5.70 -0.16 3.76
Brazil 3.70 18.75 0.01 3.35 15.30 0.00 3.80
India 9.52 23.80 4.60 25.50 1.00 0.00 11.42
Major Importers 8/ 42.31 46.08 35.13 77.70 2.36 0.02 43.42
Mexico 0.31 0.57 0.65 1.20 0.10 0.02 0.21
China 34.84 35.80 7.00 41.00 0.08 0.00 36.56
European Union 9/ 0.19 1.20 0.46 0.49 1.16 0.00 0.20
Turkey 1.28 3.05 4.50 6.80 0.95 0.00 1.08
Pakistan 2.30 5.30 4.20 9.70 0.05 0.00 2.05
Indonesia 0.41 3/ 1.90 1.90 0.02 0.00 0.40
Thailand 0.11 3/ 0.43 0.43 0.00 0.00 0.11
Bangladesh 1.71 0.15 7.40 7.60 0.00 0.00 1.67
Vietnam 1.02 3/ 8.00 8.00 0.00 0.00 1.02
================================================================================
WASDE - 673 - 27 July 2026
World Cotton Supply and Use 1/
(Million 480-Pound Bales)
================================================================================
Supply Use
Region Beginning Produc- Loss Ending
Stocks tion Imports Domestic Exports 2/ Stocks
================================================================================
2026/27 Proj.
World
Jun 76.63 116.04 43.34 121.76 43.32 -0.20 71.13
Jul 75.72 117.26 43.34 121.95 43.34 -0.20 71.22
World Less China
Jun 40.07 82.54 36.34 80.26 43.24 -0.20 35.64
Jul 39.16 83.76 36.34 80.45 43.27 -0.20 35.74
United States
Jun 4.20 13.30 0.01 1.60 12.30 -0.10 3.70
Jul 4.20 13.70 0.01 1.60 12.30 -0.10 4.10
Total Foreign
Jun 72.43 102.74 43.34 120.16 31.02 -0.10 67.43
Jul 71.52 103.56 43.34 120.35 31.04 -0.10 67.12
Major Exporters 4/
Jun 26.66 56.69 4.10 36.90 27.85 -0.10 22.81
Jul 25.82 57.36 4.10 36.89 27.87 -0.10 22.61
Central Asia 5/
Jun 2.41 5.46 0.25 4.94 1.37 0.00 1.81
Jul 2.34 5.62 0.25 4.93 1.40 0.00 1.89
Afr. Fr. Zone 6/
Jun 1.23 4.17 3/ 0.11 4.11 0.00 1.18
Jul 1.23 4.17 3/ 0.11 4.11 0.00 1.18
S. Hemis. 7/
Jun 11.55 22.60 0.15 4.51 20.54 -0.10 9.35
Jul 10.50 23.10 0.15 4.51 20.54 -0.10 8.80
Australia
Jun 3.76 3.00 3/ 0.00 4.50 -0.10 2.36
Jul 3.76 3.00 3/ 0.00 4.50 -0.10 2.36
Brazil
Jun 4.85 17.50 0.01 3.40 15.00 0.00 3.96
Jul 3.80 18.00 0.01 3.40 15.00 0.00 3.41
India
Jun 11.12 24.00 2.50 26.00 1.50 0.00 10.12
Jul 11.42 24.00 2.50 26.00 1.50 0.00 10.42
Major Importers 8/
Jun 43.48 43.11 36.44 78.72 1.97 0.00 42.34
Jul 43.42 43.26 36.44 78.92 1.97 0.00 42.23
Mexico
Jun 0.21 0.65 0.65 1.20 0.10 0.00 0.21
Jul 0.21 0.65 0.65 1.20 0.10 0.00 0.21
China
Jun 36.56 33.50 7.00 41.50 0.08 0.00 35.49
Jul 36.56 33.50 7.00 41.50 0.08 0.00 35.49
European Union 9/
Jun 0.26 1.20 0.45 0.48 1.12 0.00 0.31
Jul 0.20 1.20 0.45 0.48 1.12 0.00 0.25
Turkey
Jun 1.08 2.50 4.80 6.80 0.60 0.00 0.98
Jul 1.08 2.65 4.80 6.80 0.60 0.00 1.13
Pakistan
Jun 2.05 5.10 5.00 10.20 0.05 0.00 1.90
Jul 2.05 5.10 5.00 10.20 0.05 0.00 1.90
Indonesia
Jun 0.40 3/ 1.90 1.90 0.02 0.00 0.38
Jul 0.40 3/ 1.90 1.90 0.02 0.00 0.38
Thailand
Jun 0.11 3/ 0.45 0.45 0.00 0.00 0.11
Jul 0.11 3/ 0.45 0.45 0.00 0.00 0.11
Bangladesh
Jun 1.67 0.15 7.60 7.80 0.00 0.00 1.62
Jul 1.67 0.15 7.60 7.80 0.00 0.00 1.62
Vietnam
Jun 1.02 3/ 8.00 7.80 0.00 0.00 1.22
Jul 1.02 3/ 8.00 8.00 0.00 0.00 1.02
================================================================================
WASDE - 673 - 28 July 2026
World Soybean Supply and Use 1/
(Million Metric Tons)
================================================================================
Supply Use
Region Beginning Produc- Domestic Ending
Stocks tion Imports Crush Total Exports Stocks
================================================================================
2024/25
World 2/ 115.10 428.05 179.15 359.14 412.03 184.33 125.93
World Less China 71.79 407.40 71.15 255.64 284.63 184.26 81.44
United States 9.32 119.05 0.81 66.55 68.84 51.50 8.84
Total Foreign 105.78 309.00 178.34 292.59 343.19 132.84 117.09
Major Exporters 3/ 54.47 238.05 7.06 105.35 115.35 121.02 63.22
Argentina 24.05 51.11 6.32 43.24 48.94 7.87 24.67
Brazil 29.76 172.50 0.73 58.16 62.16 103.14 37.69
Paraguay 0.29 10.20 0.00 3.70 3.80 6.41 0.29
Major Importers 4/ 46.22 24.54 142.49 133.17 164.84 0.42 47.99
China 43.31 20.65 108.00 103.50 127.40 0.07 44.49
European Union 1.30 2.91 14.71 15.40 17.02 0.33 1.57
Southeast Asia 5/ 0.83 0.45 10.10 5.11 10.18 0.01 1.18
Mexico 0.61 0.28 6.43 6.65 6.74 0.00 0.59
2025/26 Est.
World 2/ 125.93 429.46 186.34 372.49 429.33 187.08 125.33
World Less China 81.44 408.56 73.34 263.49 295.43 186.96 80.96
United States 8.84 115.99 0.68 72.12 75.16 41.37 8.98
Total Foreign 117.09 313.47 185.66 300.37 354.17 145.71 116.35
Major Exporters 3/ 63.22 244.20 7.98 107.20 118.78 134.30 62.32
Argentina 24.67 50.00 7.05 42.00 48.90 9.00 23.82
Brazil 37.69 180.00 0.90 61.50 65.90 115.00 37.69
Paraguay 0.29 12.10 0.02 3.60 3.73 8.20 0.48
Major Importers 4/ 47.99 24.71 147.42 138.73 171.72 0.44 47.96
China 44.49 20.90 113.00 109.00 133.90 0.12 44.37
European Union 1.57 2.85 13.80 14.80 16.37 0.30 1.55
Southeast Asia 5/ 1.18 0.41 10.82 5.73 11.17 0.01 1.24
Mexico 0.59 0.31 6.70 6.85 6.95 0.01 0.64
2026/27 Proj.
World 2/
Jun 125.52 441.34 188.02 383.09 440.78 189.22 124.88
Jul 125.33 441.70 189.27 384.17 441.72 190.41 124.17
World Less China
Jun 81.15 420.34 74.02 273.09 305.78 189.12 80.61
Jul 80.96 420.70 74.27 273.17 305.72 190.31 79.90
United States
Jun 9.25 120.70 0.68 74.84 77.83 44.36 8.44
Jul 8.98 121.79 0.68 74.84 77.84 45.18 8.44
Total Foreign
Jun 116.27 320.64 187.34 308.24 362.95 144.86 116.44
Jul 116.35 319.91 188.59 309.33 363.88 145.23 115.74
Major Exporters 3/
Jun 62.32 250.20 7.33 111.75 123.53 133.95 62.37
Jul 62.32 250.20 7.33 111.75 123.53 134.45 61.87
Argentina
Jun 23.82 50.00 6.50 43.00 49.90 6.20 24.22
Jul 23.82 50.00 6.50 43.00 49.90 6.20 24.22
Brazil
Jun 37.69 186.00 0.80 65.00 69.60 117.50 37.39
Jul 37.69 186.00 0.80 65.00 69.60 118.00 36.89
Paraguay
Jun 0.48 11.10 0.02 3.60 3.73 7.35 0.52
Jul 0.48 11.10 0.02 3.60 3.73 7.35 0.52
Major Importers 4/
Jun 47.97 24.94 148.66 140.14 173.29 0.38 47.90
Jul 47.96 24.92 149.66 141.12 174.28 0.38 47.88
China
Jun 44.37 21.00 114.00 110.00 135.00 0.10 44.27
Jul 44.37 21.00 115.00 111.00 136.00 0.10 44.27
European Union
Jun 1.55 3.00 13.20 14.50 16.02 0.25 1.48
Jul 1.55 2.98 13.20 14.50 16.02 0.25 1.46
Southeast Asia 5/
Jun 1.25 0.38 11.56 6.29 11.84 0.02 1.34
Jul 1.24 0.38 11.56 6.27 11.82 0.02 1.34
Mexico
Jun 0.64 0.32 6.75 6.95 7.05 0.01 0.65
Jul 0.64 0.32 6.75 6.95 7.05 0.01 0.65
================================================================================
WASDE - 673 - 29 July 2026
World Soybean Meal Supply and Use 1/
(Million Metric Tons)
================================================================================
Supply Use
Stocks tion Imports Domestic Exports Stocks
Region Beginning Produc- Total Exports Ending
================================================================================
2024/25
World 2/ 14.31 281.73 77.69 272.93 82.86 17.94
World Less China 13.52 199.76 77.64 192.08 81.84 17.00
United States 0.41 53.02 0.73 37.41 16.40 0.36
Total Foreign 13.90 228.72 76.96 235.53 66.47 17.58
Major Exporters 3/ 5.45 86.93 0.29 31.21 54.95 6.51
Argentina 2.26 33.51 0.28 3.53 29.78 2.74
Brazil 2.97 44.38 0.01 20.50 23.39 3.47
India 0.22 9.04 0.01 7.19 1.78 0.30
Major Importers 4/ 2.30 23.31 44.01 65.11 1.05 3.46
European Union 0.84 12.17 20.61 31.24 0.65 1.72
Mexico 0.16 5.26 2.35 7.45 0.00 0.31
Southeast Asia 5/ 1.19 3.99 19.44 22.91 0.40 1.31
China 0.79 81.97 0.05 80.85 1.02 0.94
2025/26 Est.
World 2/ 17.94 292.43 80.84 287.27 84.62 19.33
World Less China 17.00 206.10 80.69 202.12 83.62 18.06
United States 0.36 57.19 0.76 39.49 18.42 0.41
Total Foreign 17.58 235.25 80.08 247.79 66.20 18.92
Major Exporters 3/ 6.51 87.64 0.31 32.53 54.85 7.08
Argentina 2.74 32.34 0.25 3.60 29.00 2.73
Brazil 3.47 47.48 0.01 21.80 25.00 4.16
India 0.30 7.82 0.05 7.13 0.85 0.19
Major Importers 4/ 3.46 23.38 44.65 67.15 0.87 3.47
European Union 1.72 11.69 19.60 30.94 0.60 1.47
Mexico 0.31 5.41 2.70 8.09 0.00 0.33
Southeast Asia 5/ 1.31 4.51 20.65 24.65 0.27 1.56
China 0.94 86.33 0.15 85.15 1.00 1.27
2026/27 Proj.
World 2/
Jun 19.15 300.15 84.10 295.21 88.13 20.06
Jul 19.33 300.98 84.36 295.93 88.40 20.34
World Less China
Jun 17.87 213.03 84.00 209.26 87.03 18.61
Jul 18.06 213.07 84.26 209.18 87.30 18.90
United States
Jun 0.41 58.99 0.73 40.03 19.69 0.41
Jul 0.41 58.95 0.76 39.76 19.96 0.41
Total Foreign
Jun 18.74 241.16 83.37 255.18 68.45 19.65
Jul 18.92 242.03 83.60 256.17 68.45 19.93
Major Exporters 3/
Jun 7.08 91.12 0.23 33.75 57.30 7.38
Jul 7.08 91.12 0.23 33.75 57.30 7.38
Argentina
Jun 2.73 33.11 0.12 3.65 29.40 2.91
Jul 2.73 33.11 0.12 3.65 29.40 2.91
Brazil
Jun 4.16 50.01 0.01 23.00 26.90 4.28
Jul 4.16 50.01 0.01 23.00 26.90 4.28
India
Jun 0.19 8.00 0.10 7.10 1.00 0.19
Jul 0.19 8.00 0.10 7.10 1.00 0.19
Major Importers 4/
Jun 3.35 23.65 46.58 69.22 0.89 3.47
Jul 3.47 23.65 46.78 69.32 0.89 3.69
European Union
Jun 1.47 11.46 20.20 31.04 0.60 1.48
Jul 1.47 11.46 20.20 31.04 0.60 1.48
Mexico
Jun 0.33 5.49 3.00 8.45 0.00 0.37
Jul 0.33 5.49 3.00 8.45 0.00 0.37
Southeast Asia 5/
Jun 1.43 4.90 21.65 26.20 0.29 1.50
Jul 1.56 4.90 21.85 26.30 0.29 1.73
China
Jun 1.28 87.12 0.10 85.95 1.10 1.45
Jul 1.27 87.91 0.10 86.75 1.10 1.43
================================================================================
WASDE - 673 - 30 July 2026
World Soybean Oil Supply and Use 1/
(Million Metric Tons)
================================================================================
Supply Use
Stocks tion Imports Domestic Exports Stocks
Region Beginning Produc- Total Exports Ending
================================================================================
2024/25
World 2/ 5.68 70.06 14.30 68.32 15.25 6.47
World Less China 4.52 49.96 14.00 47.82 14.93 5.72
United States 0.70 13.25 0.16 12.21 1.12 0.79
Total Foreign 4.98 56.81 14.13 56.12 14.13 5.68
Major Exporters 3/ 1.59 24.10 0.95 15.47 9.92 1.25
Argentina 0.67 8.63 0.11 1.98 7.10 0.32
Brazil 0.18 11.84 0.09 10.41 1.49 0.21
European Union 0.66 2.93 0.76 3.01 0.71 0.63
Major Importers 4/ 2.18 23.68 8.00 30.59 0.51 2.75
China 1.17 20.10 0.30 20.50 0.32 0.75
India 0.75 2.03 5.47 6.65 0.03 1.58
North Africa 5/ 0.24 1.21 1.29 2.24 0.17 0.33
2025/26 Est.
World 2/ 6.47 72.36 13.15 71.17 14.49 6.32
World Less China 5.72 51.19 12.85 50.67 13.59 5.51
United States 0.79 14.00 0.15 13.65 0.45 0.83
Total Foreign 5.68 58.36 13.00 57.52 14.04 5.49
Major Exporters 3/ 1.25 24.42 0.87 15.82 9.50 1.22
Argentina 0.32 8.38 0.12 1.98 6.45 0.39
Brazil 0.21 12.54 0.10 11.05 1.60 0.20
European Union 0.63 2.81 0.65 2.71 0.85 0.54
Major Importers 4/ 2.75 24.69 6.95 30.64 1.10 2.64
China 0.75 21.17 0.30 20.50 0.90 0.81
India 1.58 1.76 4.65 6.59 0.02 1.38
North Africa 5/ 0.33 1.34 1.40 2.45 0.18 0.43
2026/27 Proj.
World 2/
Jun 6.04 74.69 13.19 73.00 14.49 6.43
Jul 6.32 74.90 13.39 73.12 14.69 6.80
World Less China
Jun 5.22 53.33 12.89 52.20 13.79 5.45
Jul 5.51 53.35 13.09 52.32 13.79 5.83
United States
Jun 0.83 14.78 0.27 14.86 0.18 0.85
Jul 0.83 14.78 0.27 14.86 0.18 0.85
Total Foreign
Jun 5.21 59.91 12.92 58.14 14.31 5.58
Jul 5.49 60.12 13.12 58.26 14.51 5.95
Major Exporters 3/
Jun 1.22 25.28 0.82 16.04 9.75 1.53
Jul 1.22 25.28 0.82 16.04 9.75 1.53
Argentina
Jun 0.39 8.58 0.12 1.99 6.65 0.45
Jul 0.39 8.58 0.12 1.99 6.65 0.45
Brazil
Jun 0.20 13.26 0.10 11.40 1.70 0.46
Jul 0.20 13.26 0.10 11.40 1.70 0.46
European Union
Jun 0.54 2.76 0.60 2.56 0.80 0.54
Jul 0.54 2.76 0.60 2.56 0.80 0.54
Major Importers 4/
Jun 2.40 25.01 6.75 30.82 0.89 2.45
Jul 2.64 25.26 6.95 30.95 1.09 2.81
China
Jun 0.82 21.36 0.30 20.80 0.70 0.98
Jul 0.81 21.56 0.30 20.80 0.90 0.97
India
Jun 1.18 1.80 4.30 6.18 0.02 1.09
Jul 1.38 1.80 4.50 6.28 0.02 1.39
North Africa 5/
Jun 0.38 1.41 1.35 2.61 0.18 0.35
Jul 0.43 1.46 1.35 2.65 0.18 0.42
================================================================================
WASDE - 673 - 31 July 2026
U.S. Quarterly Animal Product Production 1/
================================================================================
Year Red Total Red
and meat poultry meat &
quarter Beef Pork 2/ Broiler Turkey 3/ poultry Egg Milk
================================================================================
Million Pounds Mil doz Bil lbs
2025
III 6360 6614 13012 12432 1275 13850 26861 2217 58.2
IV 6647 7301 13986 12118 1242 13482 27469 2248 57.8
Annual 26003 27578 53740 48006 4844 53359 107099 8765 231.7
2026
I 6148 7050 13236 12002 1231 13368 26604 2232 58.6
II 6155 6780 12970 12400 1235 13780 26750 2260 60.2
III* 6390 6760 13188 12750 1290 14180 27368 2300 59.1
IV* 6595 7365 13999 12400 1300 13835 27834 2325 58.7
JunProj. 25438 27995 53582 49377 5036 54963 108545 9117 236.4
JulProj. 25288 27955 53392 49552 5056 55163 108555 9117 236.6
2027
I* 6115 7025 13178 12150 1250 13535 26713 2300 59.2
II* 6175 6780 12994 12500 1275 13915 26909 2315 60.6
JunProj. 25385 28290 53828 49700 5140 55395 109223 9320 237.0
JulProj. 25200 28135 53488 49900 5125 55580 109068 9320 238.1
================================================================================
U.S. Quarterly Prices for Animal Products
================================================================================
Year Barrows
and Streers and gilts Broilers Turkeys Eggs Milk
quarter 2/ 3/ 4/ 5/ 6/ 7/
================================================================================
Dol./cwt Dol./cwt Cents/lb. Cents/lb. Cents/doz. Dol./cwt
2025
III 239.62 77.05 121.9 156.8 283.0 20.70
IV 227.62 64.87 110.5 172.2 192.0 19.50
Annual 224.37 68.80 124.8 135.8 373.7 21.18
2026
I 238.65 64.50 119.5 169.9 125.2 18.50
II 255.76 67.79 122.6 176.3 67.0 21.30
III* 255.00 69.00 122.0 160.0 80.0 19.70
IV* 255.00 58.00 121.0 155.0 115.0 20.40
JunProj. 250.16 66.63 121.4 161.2 98.1 20.70
JulProj. 251.10 64.82 121.3 165.3 96.8 20.00
2027
I* 250.00 62.00 120.0 130.0 110.0 19.90
II* 255.00 68.00 123.0 125.0 95.0 19.50
JunProj. 254 65 122 130 108 20.90
JulProj. 254 65 122 130 108 19.85
================================================================================
WASDE - 673 - 32 July 2026
U.S. Meats Supply and Use
================================================================================
Disappearance
Beg- Produc- Per
Item inning tion Total Ending capita
stocks 1/ Imports Supply Exports stocks Total 2/ 3/
================================================================================
Million Pounds 4/
Beef
2025 602 26071 5388 32061 2579 577 28905 59.2
2026 Proj.
Jun 577 25506 6109 32191 2341 565 29285 59.8
Jul 577 25356 6059 31991 2331 565 29095 59.4
2027 Proj.
Jun 565 25453 6000 32018 2325 555 29138 59.4
Jul 565 25268 6000 31833 2325 555 28953 59.0
Pork
2025 435 27593 1117 29145 6972 430 21744 49.3
2026 Proj.
Jun 430 28011 1148 29589 7252 425 21912 49.6
Jul 430 27971 1173 29574 7237 425 21912 49.6
2027 Proj.
Jun 425 28306 1185 29916 7330 430 22156 50.0
Jul 425 28151 1185 29761 7330 430 22001 49.7
TotalRed
Meat5/
2025 1058 53833 6876 61767 9557 1024 51186 109.9
2026 Proj.
Jun 1024 53676 7647 62347 9601 1007 51739 110.8
Jul 1024 53486 7622 62132 9576 1007 51549 110.4
2027 Proj.
Jun 1007 53921 7580 62509 9662 1003 51843 110.8
Jul 1007 53581 7580 62169 9662 1003 51503 110.1
Broiler
2025 761 47493 152 48406 6665 786 40955 102.9
2026 Proj.
Jun 786 48848 135 49769 6619 775 42375 106.2
Jul 786 49022 135 49942 6599 790 42553 106.6
2027 Proj.
Jun 775 49168 132 50075 6575 790 42710 106.8
Jul 790 49366 132 50288 6575 790 42923 107.3
Turkey
2025 219 4844 38 5101 420 175 4507 13.2
2026 Proj.
Jun 175 5036 36 5246 414 185 4648 13.6
Jul 175 5056 36 5266 424 185 4658 13.6
2027 Proj.
Jun 185 5140 36 5361 415 190 4756 13.8
Jul 185 5125 36 5346 415 190 4741 13.8
Total
Poultry6/
2025 985 52845 193 54023 7131 973 45919 117.4
2026 Proj.
Jun 973 54434 172 55579 7075 971 47532 121.2
Jul 973 54632 172 55777 7064 987 47725 121.7
2027 Proj.
Jun 972 54863 170 56005 7034 991 47980 122.1
Jul 987 55045 170 56202 7034 991 48177 122.6
RedMeat& Poultry
2025 2043 106679 7069 115790 16688 1997 97105 227.3
2026 Proj.
Jun 1997 108110 7819 117926 16676 1978 99272 232.0
Jul 1997 108118 7794 117909 16640 1994 99275 232.1
2027 Proj.
Jun 1979 108784 7750 118513 16696 1994 99823 232.9
Jul 1994 108627 7750 118371 16696 1994 99681 232.7
================================================================================
WASDE - 673 - 33 July 2026
U.S. Egg Supply and Use
================================================================================
2024 2025 2026Proj. 2026Proj. 2027Proj. 2027Proj.
Commodity Jun Jul Jun Jul
================================================================================
Million Dozen
Eggs
Supply
BeginningStocks 23.1 14.2 17.1 17.1 22.0 22.0
Production 9076.2 8765.0 9116.8 9116.8 9320.0 9320.0
Imports 30.1 120.9 14.6 14.6 12.0 12.0
Total Supply 9129.4 8900.1 9148.6 9148.6 9354.0 9354.0
Use
Exports 235.7 203.5 241.6 246.6 300.0 300.0
Hatching Use 1148.2 1163.8 1167.6 1177.8 1180.0 1180.0
Ending Stocks 14.2 17.1 22.0 22.0 22.0 22.0
Disappearance
Total 7731.3 7515.8 7717.4 7702.2 7852.0 7852.0
Per Capita (number) 272.8 263.8 270.1 269.5 274.2 274.2
================================================================================
U.S. Milk Supply and Use
================================================================================
2024 2025 2026Proj. 2026Proj. 2027Proj. 2027Proj.
Commodity Jun Jul Jun Jul
================================================================================
Billion Pounds
Milk
Production 225.9 231.7 236.4 236.6 237.0 238.1
Farm Use 1.0 1.0 1.0 1.0 1.0 1.0
FatBasisSupply
BeginningStocks 13.8 13.1 12.6 12.6 12.2 12.4
Marketings 224.9 230.7 235.4 235.6 236.0 237.1
Imports 9.1 7.4 7.8 8.2 8.1 8.4
Total Supply 247.8 251.1 255.9 256.5 256.3 257.9
FatBasisUse
Exports 11.8 16.7 20.6 20.6 20.7 21.0
Ending Stocks 13.1 12.6 12.2 12.4 11.8 12.2
Domestic Use 222.9 221.7 223.0 223.5 223.8 224.7
Skim-solidBasisSupply
BeginningStocks 9.8 9.1 9.2 9.2 9.2 9.0
Marketings 224.9 230.7 235.4 235.6 236.0 237.1
Imports 6.8 6.9 6.7 6.8 6.8 6.9
Total Supply 241.5 246.6 251.3 251.7 252.1 253.0
Skim-solidBasisUse
Exports 48.9 48.2 49.4 49.9 49.3 49.9
Ending Stocks 9.1 9.2 9.2 9.0 8.8 8.8
Domestic Use 183.6 189.2 192.8 192.8 194.0 194.3
================================================================================
WASDE - 673 - 34 July 2026
U.S. Dairy Prices
================================================================================
Commod- 2024 2025 2026 Proj. 2026 Proj. 2027 Proj. 2027 Proj.
ity Jun Jul Jun Jul
================================================================================
Dollars Per Pound
Product Prices 1/
Cheese 1.8634 1.7878 1.610 1.570 1.710 1.665
Butter 2.8870 2.2202 1.740 1.690 1.820 1.750
Nonfat Dry
Milk 1.2420 1.2348 1.700 1.615 1.575 1.470
Dry Whey 0.4913 0.5956 0.660 0.660 0.650 0.650
Milk Prices 2/ Dollars Per Cwt
ClassIII 18.89 18.01 16.60 16.15 17.55 17.05
Class IV 20.75 17.38 19.35 18.40 18.60 17.40
All Milk
3/ 22.55 21.18 20.70 20.00 20.90 19.85
================================================================================
WASDE - 673 - 35 July 2026
Reliability of July Projections 1/
================================================================================
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
================================================================================
Million Metric Tons
WHEAT
Production
World 2.7 4.6 14.2 1.0 35.8 27 18
U.S. 3.6 6.1 1.6 0.0 6.2 21 24
Foreign 2.9 5.0 13.9 0.3 34.7 28 17
Exports
World 5.8 9.7 6.8 0.2 18.7 30 15
U.S. 11.0 18.5 2.5 0.1 10.0 24 21
Foreign 7.0 11.8 6.5 0.1 21.3 31 14
Domestic Use
World 2.0 3.3 9.4 0.3 30.0 28 17
U.S. 6.8 11.4 1.7 0.0 5.0 16 29
Foreign 2.0 3.3 9.1 0.1 29.8 31 14
Ending Stocks
World 9.1 15.3 11.8 0.1 35.3 30 15
U.S. 17.3 29.1 2.9 0.2 13.9 25 20
Foreign 9.5 16.1 10.4 0.3 31.7 31 14
COARSE GRAINS 2/
Production
World 2.8 4.7 23.3 1.3 75.2 23 22
U.S. 9.5 15.9 15.3 0.0 57.9 20 25
Foreign 2.5 4.2 14.5 1.1 53.0 23 22
Exports
World 7.5 12.6 8.0 0.6 27.6 30 15
U.S. 25.7 43.3 8.4 0.2 24.4 19 26
Foreign 13.2 22.3 7.4 0.2 19.7 31 14
Domestic Use
World 1.7 2.9 15.0 0.0 51.3 24 21
U.S. 4.2 7.1 6.7 0.0 22.2 28 17
Foreign 1.9 3.3 12.5 1.0 40.6 25 20
Ending Stocks
World 17.6 29.7 22.3 0.6 171.9 27 18
U.S. 41.9 70.6 12.7 0.4 50.5 19 26
Foreign 15.4 25.9 14.8 0.2 155.2 32 13
RICE, milled
Production
World 2.3 3.8 6.7 0.4 24.0 28 17
U.S. 5.4 9.1 0.3 0.0 0.8 23 20
Foreign 2.3 3.9 6.7 0.5 24.3 28 17
Exports
World 8.9 15.0 2.0 0.0 7.3 31 14
U.S. 11.4 19.2 0.2 0.0 1.0 18 23
Foreign 9.7 16.4 1.9 0.0 7.5 31 14
Domestic Use
World 1.9 3.2 4.6 0.2 22.9 28 17
U.S. 7.9 13.3 0.2 0.0 0.5 19 25
Foreign 1.9 3.2 4.6 0.2 22.9 28 17
Ending Stocks
World 12.9 21.7 7.1 0.1 26.5 34 11
U.S. 28.3 47.7 0.3 0.0 1.0 26 18
Foreign 14.1 23.7 7.1 0.2 26.0 35 10
================================================================================
WASDE - 673 - 36 July 2026
Reliability of July Projections (Continued) 1/
================================================================================
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
================================================================================
Million Metric Tons
SOYBEANS
Production
World 5.0 8.4 8.1 0.5 33.2 20 25
U.S. 6.7 11.2 3.6 0.0 11.7 22 23
Foreign 7.3 12.3 7.1 0.8 34.1 23 22
Exports
World 7.4 12.4 3.8 0.0 17.0 28 17
U.S. 12.6 21.1 3.1 0.1 9.3 24 21
Foreign 18.5 31.1 3.3 0.0 19.5 28 17
Domestic Use
World 3.7 6.1 5.7 0.5 16.4 25 20
U.S. 4.8 8.2 1.5 0.0 4.9 25 20
Foreign 4.0 6.7 5.0 0.1 16.1 24 21
Ending Stocks
World 14.5 24.4 4.9 0.0 26.1 23 22
U.S. 59.6 100.3 2.9 0.0 13.4 16 28
Foreign 17.8 29.9 4.3 0.0 21.8 27 18
COTTON
Production
World 5.4 9.1 3.7 0.0 14.9 24 21
U.S. 11.4 19.3 1.4 0.1 5.3 21 24
Foreign 5.5 9.2 3.0 0.0 12.1 24 20
Exports
World 10.4 17.5 2.5 0.1 11.6 24 21
U.S. 25.4 42.8 1.3 0.1 3.6 24 21
Foreign 13.6 22.8 2.0 0.0 9.8 20 25
Domestic Use
World 5.3 8.9 3.5 0.0 21.6 20 25
U.S. 11.1 18.6 0.5 0.0 1.4 19 25
Foreign 5.3 8.9 3.5 0.1 21.0 19 26
Ending Stocks
World 15.5 26.1 6.2 0.2 20.1 26 19
U.S. 41.0 69.0 1.4 0.1 4.9 19 26
Foreign 15.1 25.5 5.4 0.3 19.5 28 17
================================================================================
WASDE - 673 - 37 July 2026
Reliability of United States July Projections 1/
================================================================================
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
================================================================================
Million Bushels
CORN
Production 10.3 17.4 556 12 2190 24 21
Exports 26.5 44.6 301 0 900 19 24
Domestic Use 4.6 7.7 261 0 770 27 17
Ending Stocks 49.9 84.1 466 11 1840 20 25
SORGHUM
Production 22.9 38.5 69 3 213 25 20
Exports 54.5 91.8 51 0 195 20 23
Domestic Use 32.4 54.6 53 3 139 20 25
Ending Stocks 62.8 105.7 41 0 174 16 28
BARLEY
Production 7.3 12.3 18 0 87 15 29
Exports 72.8 122.6 12 0 92 28 15
Domestic Use 9.5 15.9 22 0 87 18 25
Ending Stocks 20.9 35.2 23 0 114 19 25
OATS
Production 12.3 20.8 18 0 144 10 33
Exports 89.9 151.4 1 0 8 14 12
Domestic Use 6.7 11.3 15 0 67 13 27
Ending Stocks 23.2 39.1 13 0 68 17 26
Thousand Short Tons
SOYBEAN MEAL
Production 4.9 8.2 1196 118 4432 31 14
Exports 14.1 23.8 844 0 2450 25 19
Domestic Use 5.3 8.9 915 0 4470 22 22
Ending Stocks 37.7 63.5 49 0 413 11 20
Million Pounds
SOYBEAN OIL
Production 4.6 7.8 574 55 2130 32 13
Exports 46.7 78.6 457 0 2000 25 18
Domestic Use 4.2 7.0 512 0 2300 25 19
Ending Stocks 37.1 62.4 446 15 1568 23 22
ANIMAL PROD. 3/ Million Pounds
Beef 3.9 6.6 772 60 2677 22 10
Pork 2.8 4.7 459 20 1372 14 18
Broilers 2.1 3.6 643 20 1338 15 17
Turkeys 4.4 7.4 183 2 474 10 22
Million Dozen
Eggs 2.6 4.5 144 4 821 19 13
Billion Pounds
Milk 1.6 2.7 2.5 0.1 7.3 18 14
================================================================================