World Agricultural Outlook Board Interagency Commodity Estimates Committee Forecasts Lockup Briefing April 9, 2014

World Wheat Production April 9,

World Wheat Supply and Use April 9,

World Corn and Wheat Exports Trade Years* *Corn trade year October-September. Wheat trade year July-June. Source: USDA-FAS, Office of Global Analysis, Grains:World Markets and Trade, March 10, 2014 April 9,

U.S. Wheat Supply and Demand April 9,

World Rice Production April 9,

World Rice Supply and Use April 9,

U.S. Rice Supply and Demand Rough Equivalent of Rough and Milled Rice April 9,

World Corn Production April 9,

Brazil CornUnit2012/132013/14 Change from last month (%) Change from last year (%) Prev. RecordYear Area Mil. ha 15.8*14.7NC-7% /13 Yield Tons/ha 5.16*4.903%-5% /13 Production Mil. tons 81.50*72.003%-12% /13 * Indicates a record Brazil 2013/14 Corn Summary April 2014 April 9,

Brazil Corn: First-season compared to Second-season First-season Corn  Planting began in September  Area down 0.4 Mha from last year.  Crop is harvested.  Some damage from heat and drought.  Corn production used by livestock industry. Second-season Corn  Planting began in Feb  High cost of production and low prices result in unprofitability.  Area down 0.7 Mha from last year.  Rains in Parana, Mato Grosso do Sul, Goias and Mato Grosso have increased yield potential.  Corn production for export market. April 9,

Agricultural Weather Assessments World Agricultural Outlook Board 2013/14 Average Mar 30: 82% vegetative 14% flowering 3% filling 92% Good / 1% Poor Since Last Meeting 2 nd Corn (DERAL) 2012/13 99% Planted April 9,

1 2 3 April 9,

3. Toledo, Parana, Brazil  Satellite-derived vegetation health indicates conditions for 2013/14 (RED) are similar to 2012/13 season (YELLOW) for corn in Parana.  Corn yields are forecast similar to last year’s 4.83 tons per hectare. Critical flowering and grainfill stages for second- crop corn are expected in late April and early May. Second-crop corn April 9,

South Africa’s Grain Basket Approximately 50% of production is divided between east and west. West: Lower yields & greater corn area East: Higher yields & less corn area North West Free State Mpumalanga Gautang April 9,

Lower Yields in the West Lower yields in the west due to lower rainfall and low plant density from wide row spacings (>1.5-meters). April 9,

Source: FEWSNET/USGS Africa: Global: Monthly Actual Evapotranspiration (ETa) Anomaly Derived from Thermal Band on MODIS sensor Percent of Average ( ) Dec, 2013Jan, 2014 Feb, 2014 Mar, 2014 April 9,

2013/ /13 Agricultural Weather Assessments World Agricultural Outlook Board Average April 9,

North West Province: MODIS-NDVI Time Series Source: USDA/NASA GLAM Project April 9,

Latest trend is to install center pivots (CP) with smaller diameters. April 9,

World Corn Supply and Use April 9,

U.S. Corn Supply and Demand April 9,

World Soybean Production April 9,

Brazil SoybeanUnit2012/132013/14 Change from last month (%) Change from last year (%) Prev. RecordYear Area Mil. ha *1%8% /13 Yield Tons/ha %-1% /11 Production Mil. tons *-1%7% /13 * Indicates a record Brazil 2013/14 Soybean Summary April 2014 April 9,

Hot and dry in early February About 40 percent of production. April 9,

U.S. Soybean Supply and Demand April 9,

World Cotton Production April 9,

World Cotton Supply and Use April 9,

U.S. Cotton Supply and Demand April 9,

Mexico Sugar Supply and Demand April 9,

U.S. Sugar Supply and Demand April 9,

U.S. Meat Production and Prices April 9,

U.S. Meat Trade Million Pounds April 9,

U.S. Milk Supply and Demand April 9,

U.S. Dairy Product Prices April 9,

U.S. Production Summary April 9,

Domestic Demand Summary April 9,

U.S. Export Summary April 9,

Price Summary April 9,