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Export Sales/Shipments 05/26

Export Sales/Shipments USDA Export Sales Report 05/26 08:00

Summary: Weekly export sales and shipments should be considered bullish for both soybeans and corn and bearish for wheat. Soybeans totals of 10 million bushels of sales and 12.3 million bushels of shipments were both above what is needed each week to hit USDA's projected 1.1 billion bushels. Likewise, corn's 21.7 mb sales and 37.5 mb shipments were higher than what is needed each week to reach the projected 1.8 bb level. Wheat sales of 0.6 mb and shipments of 12.5 were both well below the necessary levels to hit USDA's projected 1.05 bb.

Export Sales Report for Week Ending 05/19/05

(in mil bus) Weekly New Crop Sales GRAINS Sales Unshipped Total Prev Yr Weekly Unshipped Corn 21.7 265.1 1554.9 1763.5 2.0 8.6 Sorghum 3.9 27.8 161.5 166.2 0.0 0.1 Soybeans 10.0 60.7 1067.0 881.9 0.6 32.6 All Wheat 0.6 68.5 1007.0 1130.3 15.6 71.5 Durum 0.0 3.8 27.3 40.5 0.0 1.8 Hard Red Spring 0.2 25.8 312.6 265.9 5.3 25.4 Hard Red Winter 1.5 25.6 362.8 490.1 3.7 27.0 Soft Red Winter 0.2 3.7 121.6 145.8 4.2 6.6 White Wheat -1.2 9.6 182.5 188.0 2.5 10.7 OTHER COMMODITIES Soyoil (000 mt) -0.5 36.2 384.5 189.9 4.6 4.6 Soymeal (000 mt) 78.2 815.3 4964.6 3546.2 0.1 85.9 Rice (000 mt) 65.2 598.0 3460.0 3299.6 0.0 4.2 Upland Cotton(000b 377.3 4148.0 13199 12710.8 85.2 929.3

Export Sales Highlights This summary is based on reports from exporters for the period May 13 - 19, 2005. Wheat: Net sales of 16,300 metric tons (MT) improved from last week. Increases for Colombia (33,000 MT), Portugal (24,000 MT), and South Korea (23,200 MT) were partially offset by decreases for the Philippines (60,100 MT, including 59,500 MT switched to 2005/06), unknown destinations (30,800 MT), and Japan (20,600 MT--all switched to 2005/06). Net sales of 425,200 MT for delivery in 2005/06 (which begins June 1) were mainly for Nigeria (142,500 MT), the Philippines (89,500 MT), unknown destinations (67,900 MT), Japan (33,200 MT), Mexico (31,500 MT), and Venezuela (21,000 MT). Exports of 339,600 MT were 28 percent below the week earlier and 26 percent under the prior 4-week average. The primary destinations were Mexico (45,200 MT), the Philippines (44,400 MT), Japan (41,200 MT, including 20,600 MT late reporting), Yemen (38,900 MT), Colombia (33,000 MT), Nigeria (32,100 MT), Portugal (24,000 MT), and the Dominican Republic (23,200 MT). Corn: Net sales of 550,500 MT were 35 percent lower than the previous week and the prior 4-week average. Increases for unknown destinations (131,800 MT), Mexico (92,200 MT), Colombia (63,200 MT), the Dominican Republic (52,200 MT), Guatemala (49,300 MT), Syria (45,300 MT, switched from Egypt), Japan (33,700 MT), and Canada (32,700 MT, including 29,000 MT late reporting) were partially offset by decreases for Egypt (60,000 MT). Sales of 50,100 MT for delivery in 2005/06 were for Guatemala. Exports of 952,400 MT were 17 percent above the previous week and 5 percent over the prior 4- week average. The principal recipients were Japan (255,700 MT), Taiwan (149,900 MT), Mexico (145,500 MT), Syria (107,300 MT), South Korea (59,300 MT), Guatemala (55,800 MT), the Dominican Republic (37,600 MT), Honduras (30,100 MT), and Cuba (26,300 MT). Barley: Net sales of 2,800 MT were for Mexico (2,200 MT) and Canada (600 MT). Sales for delivery in the 2005/06 marketing year (which begins June 1) were for Japan (18,000 MT). Exports of 1,100 MT were for Mexico (700 MT) and Canada (300 MT). Sorghum: Net sales of 99,900 MT were 15 percent under the previous week and 20 percent below the prior 4-week average. The buyers were Mexico (91,200 MT) and Japan (8,700 MT). Exports of 62,000 MT were 19 percent under the previous week and 22 percent below the prior 4-week average. The destinations were Mexico (39,600 MT) and Japan (22,400 MT). Rice: Net sales of 65,200 MT were 49 percent below the previous week and 21 percent under the prior 4-week average. Major increases for Turkey (25,400 MT), Haiti (15,600 MT), Japan (13,000 MT), Honduras (7,400 MT), Ghana (6,000 MT), and Peru (5,300 MT) were partially offset by decreases for Mexico (8,200 MT). Exports of 112,100 MT were 53 percent over the previous week and 24 percent above the prior 4-week average. The primary destinations were Iraq (27,500 MT), Turkey (20,400 MT), Cuba (16,500 MT), Japan (12,500 MT), and Honduras (7,600 MT). Soybeans: Net sales of 273,100 MT were 28 percent below the week earlier and 2 percent under the prior 4-week average. Major increases for Japan (85,900 MT), Indonesia (67,800 MT, including 60,000 MT switched from unknown destinations), Mexico (55,100 MT), and South Korea (54,500 MT) were partially offset by decreases for unknown destinations (52,000 MT). Sales of 16,500 MT for delivery in 2005/06 were for Guatemala. Exports of 335,300 MT were 3 percent below the previous week and 15 percent under the prior 4- week average. The primary destinations were Japan (69,200 MT), Indonesia (67,800 MT), Mexico (59,100 MT), South Korea (54,500 MT), and Taiwan (48,800 MT). Soybean Cake and Meal: Net sales of 78,200 MT were 18 percent above the previous week and 9 percent over the prior 4-week average. Major increases for the Dominican Republic (32,400 MT), the Philippines (24,000 MT), Honduras (10,000 MT), and Canada (9,400 MT) were partially offset by decreases for the United Kingdom (8,500 MT) and Guatemala (7,200 MT). Exports of 67,000 MT were 29 percent below the previous week and 34 percent under the prior 4-week average. The primary destinations were Canada (18,800 MT), Mexico (16,300 MT), Guatemala (11,100 MT), and Honduras (9,500 MT). Soybean Oil: Net sales reductions of 500 MT resulted as increases for Canada (1,100 MT), Barbados (600 MT), and the Dominican Republic (500 MT) were more than offset by decreases for Mexico (3,000 MT). Sales of 4,600 MT for delivery in 2005/06 were for Mexico. Exports of 3,800 MT were mainly for Jamaica (1,500 MT), Mexico (1,400 MT), and Canada (800 MT). Cotton: Net Upland sales of 377,300 RB were 23 percent above the prior week and 11 percent over the previous 4-week average. China (189,600 RB) was the dominant buyer, followed by Turkey (52,800 RB), Mexico (26,100 RB), Taiwan (24,000 RB), Japan (17,600 RB), Vietnam (16,900 RB), and Colombia (15,000 RB). Net sales of 85,200 RB for delivery in 2005/06 were mainly for China (27,700 RB), Mexico (16,200 RB), and Japan (12,900 RB). Exports of 276,900 RB were 4 percent above the previous week, but 8 percent under the prior 4-week average. The primary destination was China (98,300 RB), with smaller quantities to Mexico (32,700 RB), Turkey (22,900 RB), Indonesia (19,700 RB), Pakistan (16,700 RB), Taiwan (15,100 RB), Japan (12,400 RB), and Thailand (10,700 RB). Beef: Net sales of 11,200 MT--a marketing-year high--were primarily for Mexico (9,600 MT), Taiwan (1,300 MT), and Germany (100 MT). Exports of 5,300 MT--a marketing-year high--were mainly for Mexico (4,200 MT), Taiwan (700 MT), Canada (300 MT), and Germany (100 MT).

May 26, 2005 FOREIGN AGRICULTURAL SERVICE/USDA

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USDA Export Sales Report 05/19 07:57 Export Sales Report for Week Ending 05/12/05

Summary: Weekly soybean shipments should be viewed as bullish. Soybeans need to average 7.4 million bushels each week to hit USDA's 1.1 billion-bushel projection. This week's 12.7 million bushels were well above that level. Corn shipments of 32.1 million bushels were below the necessary 36.2 million bushels to reach USDA's 1.8 billion-bushel projection and should be considered bearish. Wheat shipments of 17.4 million bushels were also well below the needed 47.1 million bushel mark to achieve USDA's projected 1.05 billion bushels.

(in mil bus) Weekly New Crop Sales GRAINS Sales Unshipped Total Prev Yr Weekly Unshipped Corn 33.6 280.9 1533.3 1713.8 0.0 6.7 Sorghum 4.6 26.3 157.5 165.6 0.0 0.1 Soybeans 13.9 63.0 1057.0 882.4 0.0 32.0 All Wheat -7.8 80.4 1006.4 1130.4 18.9 55.9 Durum -0.5 3.8 27.3 41.2 0.8 1.8 Hard Red Spring -2.2 30.3 312.5 266.0 6.9 20.2 Hard Red Winter -3.6 29.0 361.4 489.2 7.2 23.3 Soft Red Winter 0.4 4.4 121.5 145.5 1.3 2.4 White Wheat -2.0 12.9 183.8 188.6 2.7 8.2 OTHER COMMODITIES Soyoil (000 mt) 2.0 40.6 385.1 187.3 0.0 0.0 Soymeal (000 mt) 66.1 804.0 4886.3 3496.5 0.5 85.7 Rice (000 mt) 128.5 644.9 3394.8 3265.2 0.0 4.2 Upland Cotton(000b 306.5 4047.6 12821 12602.8 57.9 844.1

Export Sales Highlights This summary is based on reports from exporters for the period May 6 - 12, 2005. Wheat: Net sales reductions of 213,500 metric tons (MT) resulted as major increases for Nigeria (60,700 MT, switched from unknown destinations) and South Korea (27,600 MT) were more than offset by decreases for Japan (126,200 MT, including 119,000 MT switched to 2005/06), unknown destinations (77,500 MT, including 20,000 MT switched to 2005/06), Taiwan (54,900 MT--all switched to 2005/06), Thailand (36,400 MT--all switched to 2005/06), and Algeria (18,000 MT--all switched to 2005/06). Net increases of 515,700 MT for delivery in the 2005/06 marketing year (which begins June 1) were mainly for Japan (119,000 MT), unknown destinations (85,000 MT), Taiwan (54,900 MT), Thailand (42,000 MT), and Mexico (28,100 MT). Exports of 472,600 MT were 27 percent above the week earlier and 9 percent over the prior 4-week average. The primary destinations were Nigeria (78,000 MT), Mexico (77,900 MT), South Korea (66,600 MT), Egypt (65,700 MT), Yemen (36,300 MT), Italy (34,300 MT), and Japan (25,800 MT). Corn: Net sales of 854,000 MT were 39 percent lower than the previous week, but 8 percent higher than the prior 4-week average. Major increases were reported for Taiwan (325,100 MT, including 55,000 MT switched from Japan), Japan (171,600 MT, including 55,000 MT switched from unknown destinations), Mexico (133,600 MT), Syria (62,000 MT, including 35,000 MT switched from unknown destinations), Egypt (61,500 MT), Canada (47,800 MT, including 40,000 MT late reporting), and unknown destinations (25,600 MT). Exports of 815,600 MT were 5 percent below the previous week and 11 percent under the prior 4-week average. The principal recipients were Japan (326,100 MT), Taiwan (135,800 MT), Mexico (117,300 MT), Egypt (61,500 MT), South Korea (58,900 MT), and Canada (58,300 MT, including 30,200 MT late reporting). Barley: Net sales of 14,300 MT were all for Japan. There were no exports reported during the week. Sorghum: Net sales of 117,300 MT were 30 percent below the previous week, but 8 percent above the prior 4-week average. The buyers were Mexico (104,900 MT) and Japan (12,500 MT). Exports of 76,900 MT were 7 percent under the previous week and 14 percent below the prior 4-week average. The destinations were Mexico (68,400 MT) and Japan (8,400 MT). Rice: Net sales of 128,500 MT were 94 percent above the previous week and 58 percent over the prior 4-week average. The major buyers were Iraq (60,000 MT), Haiti (25,800 MT), Mexico (14,800 MT), El Salvador (8,400 MT), the United Kingdom (7,800 MT), and Switzerland (7,200 MT). Exports of 73,400 MT were 3 percent below the previous week and 19 percent under the prior 4-week average. The primary destinations were Mexico (22,000 MT), Japan (13,000 MT), El Salvador (10,700 MT), Switzerland (7,600 MT), and Guatemala (5,500 MT). Soybeans: Net sales of 377,000 MT were two and one-quarter times the week earlier and 68 percent over the prior 4-week average. The major buyers were Japan (120,300 MT, including 15,800 MT late reporting), Taiwan (103,100 MT), Mexico (67,500 MT), and South Korea (52,500 MT). Exports of 345,000 MT were 56 percent above the previous week, but 18 percent under the prior 4- week average. The primary destinations were Taiwan (131,100 MT), Japan (103,800 MT, including 12,500 MT late reporting), and Mexico (62,200 MT). Soybean Cake and Meal: Net sales of 66,100 MT were 29 percent above the previous week, but 16 percent under the prior 4-week average. The major buyers were Guatemala (19,900 MT), Canada (14,900 MT), Egypt (14,000 MT), and Mexico (8,200 MT). Exports of 94,500 MT were 25 percent below the previous week and 23 percent under the prior 4-week average. The primary destinations were Canada (29,300 MT), Ecuador (14,700 MT), Mexico (12,100 MT), and Colombia (10,400 MT). Soybean Oil: Net sales of 2,000 MT were mainly for Canada (1,700 MT) and Mexico (200 MT). Exports of 13,000 MT were primarily for Mexico (10,300 MT), El Salvador (1,500 MT), and Canada (800 MT). Cotton: Net Upland sales of 306,500 RB rebounded from the prior week's marketing-year low and were 8 percent below the previous 4-week average. The major buyers were China (167,500 RB), Turkey (56,200 RB), Indonesia (22,800 RB), and Mexico (14,100 RB). Net sales of 57,900 RB for delivery in 2005/06 were mainly for Mexico (23,000 RB) and South Korea (20,500 RB). Exports of 265,400 RB were 7 percent below the previous week and 23 percent under the prior 4-week average. The primary destination was China (65,900 RB), followed by Turkey (33,400 RB), Mexico (32,800 RB), Thailand (20,400 RB), Indonesia (18,600 RB), South Korea (11,900 RB), and Vietnam (11,200 RB). Beef: Net sales of 4,700 MT were primarily for Mexico (2,500 MT), Taiwan (1,400 MT), and Canada (600 MT). Exports of 4,300 MT--a marketing year high--were mainly for Mexico (3,100 MT), Taiwan (700 MT) and Canada (400 MT). May 19, 2005 FOREIGN AGRICULTURAL SERVICE/USDA

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Export Sales/Shipments 05/12 08:01

EXPORT SALES REPORT FOR WEEK ENDING 05/05/05

Summary: The weekly export sales and shipment report should be viewed as bullish for soybeans. While both sales and shipments were smaller than last week, sales of 166,800 metric tons (6.1 million bushels) were above the 3.7 million bushels needed each week to hit the newly revised 1.1 billion bushel USDA projection. Shipments of 223,200 mt (8.2 mb) were also above the necessary 7.5 mb. Corn sales were bullish while shipments were slightly bearish. The weekly shipment number of 857,900 metric tons (33.8 million bushels) was just below the 36.1 mb needed to hit USDA's projected 1.8 billion bushels. Wheat sales and shipments were bearish with both falling well short of what is needed each week to hit USDA's projected 1.05 billion bushels. The report showed 141,300 metric tons of sales (5.2 million bushels) and 373,300 mt (13.7 mb) of shipments. Wheat needs to average 10.2 mb and 38.8 mb respectively to hit USDA's projection.

(in mil bus) Weekly New Crop Sales GRAINS Sales Unshipped Total Prev Yr Weekly Unshipped Corn 54.7 279.4 1499.9 1684.9 0.1 6.7 Sorghum 6.6 24.7 152.9 163.8 0.0 0.1 Soybeans 6.1 61.8 1043.2 881.7 0.6 32.0 All Wheat 5.2 105.6 1014.2 1132.4 8.2 36.9 Durum -0.1 4.4 27.8 43.5 -0.1 0.9 Hard Red Spring 2.9 39.9 314.6 265.9 2.0 13.2 Hard Red Winter 1.6 38.7 364.9 489.3 3.3 16.1 Soft Red Winter 0.0 4.6 121.0 144.9 0.1 1.1 White Wheat 0.8 18.0 185.8 188.6 2.9 5.6 OTHER COMMODITIES Soyoil (000 mt) 5.2 51.6 383.1 186.8 0.0 0.0 Soymeal (000 mt) 51.1 832.5 4820.3 3453.0 0.4 85.2 Rice (000 mt) 66.3 589.8 3266.3 3219.7 0.0 4.2 Upland Cotton(000b -81.6 4006.5 12515 12534.9 26.1 786.2

Export Sales Highlights This summary is based on reports from exporters for the period April 29 - May 5, 2005. Wheat: Net sales of 141,300 metric tons (MT) were down 43 percent from the previous week and 60 percent below the prior 4-week average. Major increases for Nigeria (65,900 MT, including 30,000 MT switched from unknown destinations), the Philippines (50,200 MT), Spain (44,100 MT), and Mexico (37,600 MT) were partially offset by decreases for unknown destinations (37,000 MT) and Cuba (25,000 MT, switched to marketing year 2005/06). Net sales of 224,000 MT for delivery in 2005/06 were mainly for Egypt (110,000 MT), South Korea (43,500 MT), and Cuba (25,000 MT). Exports of 373,300 MT were 34 percent below the week earlier and 19 percent under the prior 4-week average. The primary destinations were the Philippines (53,200 MT), Taiwan (50,600 MT), Japan (41,200 MT), Spain (38,600 MT), Israel (35,700 MT), Italy (28,700 MT), Mexico (26,600 MT), and Nigeria (25,900 MT). Corn: Net sales of 1,389,600 MT were two and one-quarter times the previous week and two times the prior 4-week average. Major increases were reported for Japan (422,700 MT), unknown destinations (256,800 MT), Egypt (181,600 MT, including 56,700 MT switched from unknown destinations), Taiwan (132,300 MT), Mexico (80,600 MT), South Korea (58,900 MT, including 55,000 MT switched from unknown destinations), Colombia (57,800 MT), Syria (40,000 MT), Costa Rica (36,600 MT), Algeria (30,900 MT), and Morocco (30,800 MT). Exports of 857,900 MT were 9 percent below the previous week and 3 percent under the prior 4-week average. The principal recipients were Japan (265,000 MT), Mexico (149,300 MT), Egypt (121,600 MT), Colombia (86,000 MT), Taiwan (70,800 MT), Costa Rica (31,200 MT), Algeria (30,900 MT), and Morocco (30,800 MT). Barley: Net sales of 2,000 MT were all for Japan. Exports of 43,200 MT were mainly for Japan (42,500 MT). Sorghum: Net sales of 166,400 MT were two and one-quarter times the previous week and 89 percent over the prior 4-week average. The major buyers were Japan (108,700 MT) and Mexico (57,700 MT). Exports of 82,900 MT were 46 percent above the previous week, but 9 percent below the prior 4- week average. The destinations were Mexico (58,900 MT), Japan (18,800 MT), and Spain (5,100 MT). Rice: Net sales of 66,300 MT were 6 percent above the previous week, but 12 percent under the prior 4-week average. Increases for Cuba (25,000 MT), Mexico (14,300 MT), Nicaragua (13,400 MT), the Dominican Republic (6,100 MT), Ghana (4,600 MT), and Panama (3,600 MT) were partially offset by decreases for Japan (6,200 MT, related to reporting errors). Exports of 76,000 MT were 24 percent above the previous week, but 20 percent under the prior 4-week average. The primary destinations were Nicaragua (14,200 MT), Japan (13,200 MT), Haiti (10,900 MT), Mexico (6,100 MT), and Ghana (4,300 MT). Note: Accumulated exports for Japan were adjusted down by 25,200 MT. Soybeans: Net sales of 166,800 MT were 49 percent below the week earlier and 22 percent under the prior 4-week average. The major buyers were China (100,600 MT, including 57,500 MT switched from unknown destinations and 44,700 MT switched from Japan), Mexico (54,700 MT), Turkey (27,000 MT), Canada (23,900 MT), and Lebanon (22,600 MT). Decreases were reported for unknown destinations (74,000 MT) and Japan (32,000 MT). Sales of 16,000 MT for delivery in 2005/06 were for Israel. Exports of 223,200 MT were 59 percent below the previous week and 49 percent under the prior 4-week average. The primary destinations were China (55,900 MT), Japan (53,600 MT), Mexico (53,000 MT), Lebanon (22,600 MT), and Costa Rica (12,800 MT). Soybean Cake and Meal: Net sales of 51,100 MT were 54 percent below the previous week and 40 percent under the prior 4-week average. Major increases for the Philippines (20,100 MT), Colombia (10,900 MT), El Salvador (7,800 MT), and Honduras (6,600 MT) were partially offset by decreases for Guatemala (5,900 MT). Exports of 125,300 MT were 58 percent above the previous week and 10 percent over the prior 4-week average. The primary destinations were the Philippines (37,800 MT), Turkey (20,600 MT), El Salvador (19,000 MT), Mexico (18,000 MT), and Canada (10,200 MT). Soybean Oil: Net sales of 5,200 MT were mainly for the Dominican Republic (1,900 MT), Mexico (1,600 MT), and Canada (1,400 MT). Exports of 5,400 MT were primarily for the Dominican Republic (2,000 MT), Panama (1,900 MT), and Mexico (700 MT). Cotton: Net Upland sales reductions of 81,600 RB--a marketing-year low-- resulted as major increases for Mexico (27,700 RB), Indonesia (10,900 RB), Taiwan (8,100 RB), Thailand (6,500 RB), Bangladesh (5,900 RB), and Japan (5,700 RB) were more than offset by decreases for Turkey (151,200 RB, related to reporting errors). In addition, new sales of 165,000 RB for China were more than offset by cancellations of 167,800 RB, related to reporting errors. New optional origin sales were reported for China (88,000 RB). Optional origin sales for China (44,000 RB) were declared U.S. origin. Net sales of 26,100 RB for delivery in 2005/06 were mainly for Mexico (17,100 RB) and Indonesia (6,600 RB). Exports of 285,900 RB were 5 percent below the previous week and 20 percent under the prior 4-week average. The primary destinations were China (94,000 RB), Mexico (40,000 RB), Indonesia (30,300 RB), Turkey (23,500 RB), Pakistan (21,900 RB), and Thailand (21,700 RB). Beef: Net sales of 2,500 MT were primarily for Mexico (1,400 MT), Taiwan (600 MT), and Canada (300 MT). Exports of 4,000 MT--a marketing year high-- were mainly for Mexico (3,000 MT), Taiwan (500 MT), Canada (300 MT), and Germany (100 MT).

May12, 2005 FOREIGN AGRICULTURAL SERVICE/USDA

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USDA Export Sales Report 05/05 Export Sales Report for Week Ending 04/28/05 (in mil bus) Weekly New Crop Sales GRAINS Sales Unshipped Total Prev Yr Weekly Unshipped Corn 24.5 258.5 1445.2 1665.0 0.5 6.6 Sorghum 2.9 21.4 146.4 162.7 0.0 0.1 Soybeans 12.0 63.9 1037.1 882.9 1.0 31.4 All Wheat 9.0 114.1 1009.0 1129.1 5.7 28.7 Durum 0.1 4.5 27.9 42.6 0.8 1.0 Hard Red Spring 1.4 44.7 311.7 265.1 2.1 11.3 Hard Red Winter 2.8 41.0 363.4 488.5 1.6 12.8 Soft Red Winter 0.8 4.9 121.0 144.6 0.5 0.9 White Wheat 4.0 19.0 185.0 188.2 0.7 2.7 OTHER COMMODITIES Soyoil (000 mt) 3.3 51.8 377.9 186.6 0.0 0.0 Soymeal (000 mt) 110.3 906.7 4769.2 3437.3 0.3 84.8 Rice (000 mt) 62.6 599.5 3225.0 3187.1 2.7 4.2 Upland Cotton(000b 931.0 4374.0 12597 12391.6 99.2 760.0

Export Sales Highlights This summary is based on reports from exporters for the period April 22 - 28, 2005. Wheat: Net sales of 245,600 metric tons (MT) were down 42 percent from the previous week and 29 percent lower than the prior 4-week average. Major increases were reported for Yemen (83,000 MT), Mexico (26,100 MT), Nigeria (25,000 MT), Italy (22,400 MT), and Japan (21,300 MT). Sales of 155,000 MT for delivery in 2005/06 were mainly for Japan (80,000 MT), the Dominican Republic (49,000 MT), and Algeria (20,000 MT). Exports of 566,700 MT were 31 percent above the week earlier and 45 percent over the prior 4-week average. The primary destinations were Nigeria (82,500 MT), Japan (67,700 MT), Mexico (61,400 MT), Egypt (58,400 MT), Iraq (57,500 MT), the Philippines (48,500 MT), South Korea (44,300 MT), Peru (28,600 MT), and Italy (25,100 MT). Corn: Net sales of 623,600 MT were 26 percent above the previous week, but 9 percent under the prior 4-week average. Major increases were reported for unknown destinations (111,500 MT), Japan (105,200 MT), Mexico (76,200 MT), Guatemala (61,700 MT), Algeria (45,100 MT, all switched from unknown destinations), Colombia (37,200 MT), Taiwan (33,400 MT), South Korea (31,400 MT), and Cuba (24,400 MT). Exports of 943,000 MT were 6 percent below the previous week, but 8 percent over the prior 4-week average. The principal recipients were Japan (320,200 MT), Egypt (136,000 MT), Taiwan (127,000 MT), Mexico (111,400 MT), Colombia (62,200 MT), Algeria (45,100 MT), and Canada (25,600 MT). Barley: Net sales of 4,500 MT resulted as increases for Saudi Arabia (59,500 MT) were offset by decreases for unknown destinations (55,000 MT). Exports of 59,800 MT were for Saudi Arabia (59,500 MT) and Canada (300 MT). Sorghum: Net sales of 73,200 MT were 49 percent below the previous week and 17 percent under the prior 4-week average. The buyers were Mexico (54,900 MT) and Japan (18,300 MT). Exports of 56,800 MT were 44 percent below the previous week and the prior 4-week average. The destinations were Mexico (51,700 MT), Japan (3,000 MT), and Canada (2,100 MT). Rice: Net sales of 62,600 MT were 13 percent below the previous week and 34 percent under the prior 4-week average. The major buyers were Taiwan (14,300 MT), Mexico (13,700 MT), Cuba (10,000 MT), Haiti (6,000 MT), Guatemala (4,300 MT), and Honduras (3,600 MT). Exports of 61,400 MT were 59 percent below the previous week and 45 percent under the prior 4-week average. The primary destinations were Mexico (19,800 MT), Ghana (6,000 MT), Cote d' Ivoire (5,000 MT), Haiti (4,900 MT), and Canada (4,000 MT). Soybeans: Net sales of 327,400 MT were 32 percent above the week earlier and 52 percent over the prior 4-week average. The major buyers were Indonesia (90,200 MT, including 50,000 MT switched from unknown destinations), Mexico (79,200 MT), China (66,400 MT, including 55,000 MT switched from unknown destinations), Japan (26,600 MT), and South Korea (24,200 MT). Sales of 28,400 MT for delivery in 2005/06 were primarily for the Netherlands (23,000 MT). Exports of 542,600 MT were 18 percent above the previous week and 28 percent over the prior 4-week average. The primary destination was China (238,400 MT), with smaller quantities to Taiwan (86,500 MT), Mexico (71,700 MT), Indonesia (56,800 MT), and Japan (52,200 MT). Soybean Cake and Meal: Net sales of 110,300 MT were 89 percent above the previous week and 66 percent over the prior 4-week average. Major increases were reported for unknown destinations (40,000 MT), Guatemala (22,600 MT), Ecuador (17,200 MT), and Panama (10,100 MT, all switched from Guatemala). Exports of 79,100 MT were 27 percent below the previous week and 29 percent under the prior 4-week average. The primary destinations were Mexico (16,000 MT), Japan (15,300 MT), Canada (13,800 MT), Guatemala (10,300 MT), and Panama (10,100 MT). Soybean Oil: Net sales of 3,300 MT were mainly for Mexico (2,600 MT). Exports of 2,300 MT were primarily for Mexico (1,700 MT) and Canada (400 MT). Cotton: Net Upland sales of 931,000 RB--a marketing-year high--were four and one-half times the previous week and four and one-tenth times the prior 4-week average. China (664,800 RB) and Turkey (262,300 RB) were the major buyers. Cancellations were reported for Hong Kong (13,300 RB). Optional origin sales of 264,000 RB were reported for China. Net sales of 99,200 RB for delivery in 2005/06 were mainly for Mexico (70,200 RB). Exports of 300,000 RB were 16 percent below the previous week and 18 percent under the prior 4-week average. The primary destinations were China (66,300 RB), Turkey (43,500 RB), Mexico (30,200 RB), Thailand (29,800 RB), Indonesia (29,100 RB), Taiwan (17,200 RB), and Pakistan (16,300 RB). Beef: Net sales of 5,600 MT were primarily for Mexico (3,500 MT), Taiwan (1,600 MT), Canada (300 MT), and Germany (100 MT). Exports of 3,100 MT were mainly for Mexico (2,500 MT), Taiwan (300 MT), Canada (100 MT), and Germany (100 MT).

May 5, 2005 FOREIGN AGRICULTURAL SERVICE/USDA

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USDA Export Sales Report 04/28 07:40 Export Sales Report for Week Ending 04/21/05 (in mil bus) Weekly New Crop Sales GRAINS Sales Unshipped Total Prev Yr Weekly Unshipped Corn 19.4 271.0 1420.6 1621.9 0.0 6.0 Sorghum 5.6 20.8 143.5 162.5 0.0 0.1 Soybeans 9.1 71.8 1025.0 878.3 0.9 30.3 All Wheat 15.5 125.9 1000.0 1119.5 1.7 23.0 Durum 0.8 4.9 27.8 39.7 0.0 0.2 Hard Red Spring 9.0 49.0 310.3 263.8 0.5 9.2 Hard Red Winter 3.4 47.1 360.6 482.1 0.2 11.2 Soft Red Winter 0.3 6.3 120.2 146.1 0.0 0.5 White Wheat 2.0 18.6 181.1 187.8 1.0 1.9 OTHER COMMODITIES Soyoil (000 mt) 6.4 50.8 374.6 186.6 0.0 0.0 Soymeal (000 mt) 58.5 875.5 4658.8 3414.8 0.3 84.5 Rice (000 mt) 71.8 598.4 3162.5 3138.2 0.0 1.5 Upland Cotton(000b 208.3 3742.9 11665 12261.6 18.7 660.8

Export Sales Highlights This summary is based on reports from exporters for the period April 15 - 21, 2005. Wheat: Net sales of 421,000 metric tons (MT) were up 16 percent from the previous week and 27 percent higher than the prior 4-week average. Major increases for Japan (87,100 MT), Italy (59,200 MT, including 24,000 switched from unknown destinations), Egypt (55,000 MT), the Philippines (41,500 MT), Israel (39,200 MT), Yemen (37,000 MT), and Nigeria (36,800 MT, switched from unknown destinations) were partially offset by decreases for unknown destinations (66,000 MT). Sales of 46,400 MT for delivery in 2005/06 were mainly for the Philippines (30,500 MT). Exports of 431,800 MT were 18 percent above the week earlier and 4 percent over the prior 4-week average. The primary destinations were Japan (93,100 MT), Nigeria (63,100 MT), Taiwan (44,300 MT), Mexico (37,600 MT), Italy (33,200 MT), and Cuba (26,500 MT). Corn: Net sales of 493,400 MT were 26 percent below the previous week and 42 percent under the prior 4-week average. Major increases for Japan (214,900 MT, including 55,000 MT switched from unknown destinations), Mexico (72,200 MT), the Dominican Republic (64,600 MT), Colombia (57,700 MT), South Korea (52,800 MT), Taiwan (50,900 MT), Syria (40,500 MT), and Morocco (32,600 MT, including 27,700 MT switched from unknown destinations) were partially offset by decreases for unknown destinations (177,700 MT). Exports of 1,002,200 MT were 18 percent above the previous week and 21 percent over the prior 4-week average. The principal recipients were Japan (314,300 MT), Mexico (170,600 MT), Egypt (121,200 MT), Taiwan (103,600 MT), Canada (51,300 MT), Cuba (48,700 MT), Syria (40,500 MT), and Morocco (32,600 MT). Barley: Net sales reductions of 1,900 MT resulted as increases for Japan (700 MT) were more than offset by decreases for Canada (2,600 MT). Exports of 14,800 MT were all for Japan. Sorghum: Net sales of 142,300 MT were two and seven-tenth times the previous week and two and one-tenth times the prior 4-week average. Increases for Mexico (121,000 MT), Japan (16,600 MT), and Spain (14,300 MT) were partially offset by decreases for unknown destinations (9,500 MT). Exports of 100,800 MT were 14 percent below the previous week and 3 percent under the prior 4-week average. The destinations were Mexico (85,100 MT), Spain (9,300 MT) and Japan (6,400 MT). Rice: Net sales of 71,800 MT were 43 percent below the previous week and 18 percent under the prior 4-week average. The major buyers were Turkey (15,000 MT), Mexico (9,800 MT), Honduras (8,800 MT), Japan (6,300 MT), Guatemala (5,900 MT), and Canada (4,500 MT). Exports of 149,900 MT--a marketing-year--high were 95 percent above the previous week and 52 percent over the prior 4-week average. The primary destinations were Costa Rica (28,900 MT), Japan (27,000 MT), Mexico (20,500 MT), Cuba (16,500 MT), and Nicaragua (14,100 MT). Soybeans: Net sales of 248,600 MT were 58 percent above the week earlier and 9 percent over the prior 4-week average. Major increases for China (175,900 MT, including 165,000 MT switched from unknown destinations), Mexico (68,400 MT), Turkey (54,200 MT), Taiwan (49,700 MT), and Indonesia (25,300 MT, including 25,000 MT switched from unknown destinations) were partially offset by decreases for unknown destinations (168,000 MT). Sales of 25,300 MT for delivery in 2005/06 were primarily for unknown destinations (25,000 MT). Exports of 460,700 MT were 2 percent above the previous week and 3 percent over the prior 4-week average. The primary destinations were China (230,900 MT), Mexico (60,000 MT), Japan (43,600 MT, including 16,400 MT late reporting), Turkey (34,200 MT), and Indonesia (33,000 MT). Soybean Cake and Meal: Net sales of 58,500 MT were 39 percent under the previous week and 42 percent below the prior 4-week average. The major buyers were Mexico (15,600 MT), the Dominican Republic (13,200 MT), Indonesia (9,000 MT), Canada (5,200 MT), and Turkey (5,000 MT). Exports of 108,000 MT were 39 percent below the previous week and 8 percent under the prior 4-week average. The major destinations were the Dominican Republic (32,100 MT), Japan (28,700 MT), Mexico (20,400 MT), and Canada (11,300 MT). Soybean Oil: Net sales of 6,400 MT were mainly for Mexico (5,300 MT), Canada (400 MT), and Barbados (300 MT). Exports of 8,600 MT were primarily for Cuba (5,100 MT), Nicaragua (1,500 MT), Mexico (1,000 MT), and Canada (600 MT). Cotton: Net Upland sales of 208,300 RB were 23 percent below the previous week and 3 percent under the prior 4-week average. The primary buyer was Turkey (101,600 RB), followed by China (39,500 RB), Colombia (26,400 RB), Hong Kong (20,300 RB), Indonesia (9,100 RB), and Bangladesh (7,600 RB). Net sales of 18,700 RB for delivery in 2005/06 resulted as major increases for Mexico (16,100 RB) and the Philippines (5,100 RB) were partially offset by decreases for South Korea (2,000 RB) and Japan (1,700 RB). Exports of 356,300 RB slipped 18 percent from the previous week's marketing-year high and 3 percent under the prior 4-week average. The primary destinations were China (90,100 RB), Turkey (51,400 RB), Mexico (37,100 RB), Indonesia (30,900 RB), Pakistan (28,200 RB), Thailand (26,100 RB), and South Korea (16,400 RB). American Pima exports of 13,800 RB were mainly to China (6,700 RB) and Pakistan (4,100 RB). Beef: Net sales of 7,200 MT were primarily for Mexico (4,600 MT), Taiwan (1,700 MT), Canada (500 MT), and Germany (200 MT). Exports of 2,300 MT were mainly for Mexico (2,000 MT), Canada (100 MT), and Germany (100 MT). April 28, 2005 FOREIGN AGRICULTURAL SERVICE/USDA

***

Washington, DC Mon Apr 25, 2005

GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT - 1,000 BUSHELS - ------------------------------------------------------------------------------- CURRENT PREVIOUS ------------ WEEK ENDING ----------- MARKET YEAR MARKET YEAR GRAIN 04/21/05 04/14/05 04/22/04 TO DATE TO DATE

WHEAT 20,949 13,336 31,553 930,436 1,016,090 RYE 0 0 0 0 1 OATS 0 0 0 5 239 BARLEY 2,095 7 0 14,497 17,103 FLAXSEED 0 0 0 934 1,806 CORN 33,288 31,444 26,180 1,091,266 1,198,052 SORGHUM 2,640 4,214 2,859 99,595 122,201 SOYBEANS 15,451 17,114 3,583 932,829 785,816 SUNFLOWER 0 0 0 0 0

TOTAL 74,423 66,115 64,175 3,069,562 3,141,308 ------------------------------------------------------------------------------- CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.

INCLUDES WATERWAY SHIPMENTS TO CANADA.

SOYBEANS INSPECTED AND/OR WEIGHED FOR EXPORT BY PORT AREA AND COUNTRY OF DESTINATION REPORTED IN WEEK ENDING APR 21, 2005 - 1,000 BUSHELS - ------------------------------------------------------------------------------- CHICAGO INDONESIA 47

MISSISSIPPI R. CHINA MAIN 4,257 INDONESIA 892 JAPAN 926 KOREA REP 853 TRINIDAD 229 TURKEY 1,256

EAST GULF MEXICO 1,213

COLUMBIA R. CHINA MAIN 2,026

PUGET SOUND CHINA MAIN 2,199 CHINA T 757

INTERIOR CHINA T 15 JAPAN 12 MEXICO 769

TOTAL 15,451 ------------------------------------------------------------------------------- INCLUDES SHIPMENTS TO CANADA.

WHEAT INSPECTED AND/OR WEIGHED FOR EXPORT BY CLASS, REGION AND PORT AREA REPORTED IN WEEK ENDING APR 21, 2005 - 1,000 BUSHELS - -------------------------------------------------------------------------------- REGION/PORT HARD RED HARD RED SOFT RED SOFT DURUM MIXED TOTALS SPRING WINTER WINTER WHITE ST LAWR SWY MONTREAL 0 0 0 0 0 0 0 SEAWAY 0 0 0 0 0 0 0 SUBTOTAL 0 0 0 0 0 0 0

LAKES CHICAGO 0 0 0 0 0 0 0 DULUTH-SUP 1,233 0 0 0 236 0 1,469 TOLEDO 0 0 0 0 0 0 0 SAGINAW 0 0 0 0 0 0 0 PORT HURON 0 0 0 0 0 0 0 SUBTOTAL 1,233 0 0 0 236 0 1,469

ATLANTIC N. ATLANTIC 0 0 0 0 0 0 0 S. ATLANTIC 0 0 0 0 0 0 0 SUBTOTAL 0 0 0 0 0 0 0

GULF MISSISSIPPI R. 1,610 235 833 0 117 0 2,795 EAST GULF 0 0 0 0 0 0 0 N. TEXAS 0 5,850 0 0 0 0 5,850 S. TEXAS 0 835 0 0 418 0 1,253 SUBTOTAL 1,610 6,920 833 0 535 0 9,898

PACIFIC COLUMBIA R. 2,992 847 0 4,269 0 0 8,108 PUGET SOUND 16 0 0 17 0 0 33 CALIFORNIA 0 0 0 0 0 0 0 SUBTOTAL 3,008 847 0 4,286 0 0 8,141

INTERIOR INTERIOR 159 349 0 0 0 0 508 SUBTOTAL 159 349 0 0 0 0 508

TOTAL 6,010 8,116 833 4,286 771 0 20,016

SHIPMENTS TO CANADA* 933 0 0 0 0 0 933 ------------------------------------------------------------------------------ *NOT INCLUDED IN TOTAL INSPECTION FOR EXPORTS WHEAT SHIPPED FOR STORAGE IN CANADA IS REPORTED AT TIME OF SHIPMENT FROM ST LAWR SWY PORTS PRIOR TO MAY 1, 1990, ALL HARD AND SOFT WHITE WHEAT VARIETIES WERE CLASSIFIED AS WHITE WHEAT.

GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT BY REGION AND PORT AREA REPORTED IN WEEK ENDING 04/21/2005 - 1,000 BUSHELS - ----------------------------------------------------------------------------- REGION WHEAT CORN BARLEY SORGHUM SOYBEANS TOTALS PORT YELLOW WHITE

LAKES CHICAGO 0 0 0 0 0 47 47 DULUTH-SUP 2,402 0 0 0 0 0 2,402 TOLEDO 0 1,710 0 0 0 0 1,710 SAGINAW 0 0 0 0 0 0 0 PORT HURON 0 0 0 0 0 0 0 SUBTOTAL 2,402 1,710 0 0 0 47 4,159

ATLANTIC N. ATLANTIC 0 0 0 0 0 0 0 S. ATLANTIC 0 0 0 0 0 0 0 SUBTOTAL 0 0 0 0 0 0 0

GULF MISSISSIPPI R. 2,795 20,510 609 0 365 8,413 32,692 EAST GULF 0 0 0 0 0 1,213 1,213 N. TEXAS 5,850 0 0 0 1,482 0 7,332 S. TEXAS 1,253 0 0 0 0 0 1,253 SUBTOTAL 9,898 20,510 609 0 1,847 9,626 42,490

PACIFIC COLUMBIA R. 8,108 3,639 0 2,095 0 2,026 15,868 PUGET SOUND 33 5,667 0 0 0 2,956 8,656 CALIFORNIA 0 0 0 0 0 0 0 SUBTOTAL 8,141 9,306 0 2,095 0 4,982 24,524

INTERIOR INTERIOR 508 909 244 0 793 796 3,250 SUBTOTAL 508 909 244 0 793 796 3,250

TOTALS 20,949 32,435 853 2,095 2,640 15,451 74,423 ----------------------------------------------------------------------------- INCLUDES SHIPMENTS TO CANADA AND DOES NOT INCLUDE SHIPMENTS OF U.S. GRAIN FROM THE ST. LAWRENCE SEAWAY. MIXED CORN IS INCLUDED IN YELLOW CORN.

GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT BY REGION AND COUNTRY OF DESTINATIO N REPORTED IN WEEK ENDING APR 21, 2005 - 1,000 BUSHELS - ------------------------------------------------------------------------------- REGION/COUNTRY WHEAT YELLOW WHITE BARLEY SORGHUM SOYBEANS TOTAL CORN CORN LAKES ALGERIA 236 0 0 0 0 0 236 BELGIUM 850 0 0 0 0 0 850 INDONESIA 0 0 0 0 0 47 47 UN KINGDOM 383 0 0 0 0 0 383 SUBTOTAL 1,469 0 0 0 0 47 1,516

GULF CHINA MAIN 0 0 0 0 0 4,257 4,257 CONGO (BRAZ) 808 0 0 0 0 0 808 COSTA RICA 688 0 294 0 0 0 982 CUBA 974 1,916 0 0 0 0 2,890 DOMINICN REP 0 399 0 0 0 0 399 EGYPT 0 6,365 0 0 0 0 6,365 EL SALVADOR 372 0 315 0 0 0 687 ETHIOPIA 2,152 0 0 0 0 0 2,152 GUATEMALA 294 693 0 0 0 0 987 HONDURAS 469 623 0 0 0 0 1,092 INDONESIA 0 0 0 0 0 892 892 ITALY 289 0 0 0 0 0 289 JAMAICA 0 158 0 0 0 0 158 JAPAN 0 4,173 0 0 0 926 5,099 KOREA REP 0 357 0 0 0 853 1,210 MEXICO 661 3,757 0 0 1,482 1,213 7,113 MOROCCO 0 1,283 0 0 0 0 1,283 NICARAGUA 184 118 0 0 0 0 302 NIGERIA 2,367 0 0 0 0 0 2,367 PANAMA 0 331 0 0 0 0 331 SPAIN 0 0 0 0 365 0 365 TRINIDAD 416 337 0 0 0 229 982 TURKEY 0 0 0 0 0 1,256 1,256 VENEZUELA 224 0 0 0 0 0 224 SUBTOTAL 9,898 20,510 609 0 1,847 9,626 42,490

PACIFIC CHINA MAIN 0 0 0 0 0 4,225 4,225 CHINA T 1,493 3,431 0 0 0 757 5,681 ERITREA 257 0 0 0 0 0 257 JAPAN 4,178 5,875 0 680 0 0 10,733 PAKISTAN 527 0 0 0 0 0 527 SAUDI ARABIA 0 0 0 1,415 0 0 1,415 SUDAN 1,653 0 0 0 0 0 1,653 THAILAND 33 0 0 0 0 0 33 SUBTOTAL 8,141 9,306 0 2,095 0 4,982 24,524

INTERIOR CHINA T 0 0 0 0 0 15 15 JAPAN 0 0 0 0 0 12 12 MEXICO 508 909 244 0 793 769 3,223 SUBTOTAL 508 909 244 0 793 796 3,250

TOTAL 20,016 30,725 853 2,095 2,640 15,451 71,780

SHIPMENTS TO CANADA* 933 1,710 0 0 0 0 2,643 ------------------------------------------------------------------------------- *NOT INCLUDED IN TOTAL INSPECTION FOR EXPORTS GRAIN SHIPPED FOR STORAGE IN CANADA IS REPORTED AT TIME OF SHIPMENT FROM ST LAWR SWY PORTS

CORRECTIONS TO PREVIOUS PUBLICATIONS:

FOR CERTDATE 04/11/05 ADD 3 HRS WHEAT FROM INTERIOR TO PHILIPPINES FOR CERTDATE 04/12/05 ADD 13 Y. CORN FROM INTERIOR TO CHINA T FOR CERTDATE 04/12/05 ADD 33 Y. SOYBEANS FROM INTERIOR TO CHINA T FOR CERTDATE 04/13/05 ADD 16 HRS WHEAT FROM INTERIOR TO PHILIPPINES FOR CERTDATE 04/13/05 ADD 33 Y. CORN FROM INTERIOR TO CHINA T FOR CERTDATE 04/13/05 ADD 16 Y. CORN FROM INTERIOR TO INDONESIA FOR CERTDATE 04/13/05 ADD 64 Y. SOYBEANS FROM INTERIOR TO CHINA T FOR CERTDATE 04/14/05 ADD 66 Y. CORN FROM INTERIOR TO CHINA T FOR CERTDATE 04/14/05 ADD 7 Y. CORN FROM INTERIOR TO HONG KONG FOR CERTDATE 04/14/05 ADD 13 Y. CORN FROM INTERIOR TO INDONESIA FOR CERTDATE 04/14/05 ADD 655 Y. CORN FROM MISS. R. TO EGYPT FOR CERTDATE 04/14/05 ADD 40 Y. SOYBEANS FROM INTERIOR TO CHINA T

SOURCE: USDA, FEDERAL GRAIN INSPECTION SERVICE WASHINGTON, DC 202-720-7316 HTTP://WWW.AMS.USDA.GOV/MNREPORTS/WA_GR101.TXT

***

USDA Export Sales Report 04/21 09:14

Export Sales Report for Week Ending 04/14/05

Summary: Weekly export shipments were once again bullish for soybeans. Shipments of 451,800 metric tons (16.6 million bushels) were nearly double those needed each week to hit USDA's projected 1.08 billion bushels. Corn shipments were 12 percent below the 966,000 mt (38 mb) needed each week to hit USDA's projected 1.8 billion bushels and should be seen as bearish. Wheat shipments of 366,100 mt (13.5 mb) were only 39 percent of the needed 930,000 mt (34 mb) and should be considered bearish.

(in mil bus) Weekly New Crop Sales GRAINS Sales Unshipped Total Prev Yr Weekly Unshipped Corn 26.4 291.1 1401.2 1585.5 0.4 6.0 Sorghum 2.1 19.2 137.9 162.0 0.0 0.1 Soybeans 5.8 79.6 1015.9 876.5 4.1 29.4 All Wheat 13.4 126.3 984.5 1106.8 2.7 21.3 Durum 2.5 4.8 26.9 37.9 0.0 0.2 Hard Red Spring 7.3 46.8 301.3 258.0 0.7 8.7 Hard Red Winter 2.2 49.9 357.2 479.1 2.0 11.0 Soft Red Winter 0.3 6.9 120.0 145.6 0.0 0.5 White Wheat 1.2 18.0 179.1 186.3 0.0 1.0 OTHER COMMODITIES Soyoil (000 mt) 7.0 53.0 368.2 186.3 0.0 0.0 Soymeal (000 mt) 95.6 925.0 4600.3 3344.7 0.3 84.2 Rice (000 mt) 125.1 676.4 3090.6 3082.1 0.0 1.5 Upland Cotton(000b 269.0 3890.9 11457 12213.4 5.0 642.1

Export Sales Highlights This summary is based on reports from exporters for the period April 8 - 14, 2005. Wheat: Net sales of 363,800 metric tons (MT) were down 7 percent from the previous week, but up 14 percent from the prior 4-week average. Major increases for Japan (127,500 MT), Nigeria (77,000 MT), Italy (73,900 MT), the Philippines (32,000 MT), and Spain (25,000 MT) were partially offset by decreases for Cuba (25,000 MT, switched to the 2005/06 marketing year). Sales of 73,000 MT for delivery in 2005/06 were for Nigeria (30,000 MT), Cuba (25,000 MT), and unknown destinations (18,000 MT). Exports of 366,100 MT were 22 percent below the week earlier and 23 percent under the prior 4- week average. The primary destinations were Mexico (69,400 MT), Japan (61,300 MT), Thailand (46,400 MT), Yemen (45,500 MT), the Philippines (41,000 MT), Nigeria (32,000 MT), and the Dominican Republic (25,600 MT). Corn: Net sales of 670,000 MT were 27 percent below the previous week and the prior 4-week average. Major increases were reported for unknown destinations (268,000 MT), Mexico (118,300 MT), Taiwan (117,800 MT), Colombia (45,700 MT), Japan (43,000 MT), and Canada (25,200 MT). Exports of 852,200 MT were 16 percent above the previous week and 10 percent over the prior 4-week average. The principal recipients were Japan (370,600 MT), Mexico (143,000 MT), Colombia (68,400 MT), Egypt (47,400 MT), Taiwan (45,200 MT), Canada (43,900 MT), the Dominican Republic (28,500 MT), Syria (28,200 MT), and Venezuela (24,100 MT). Barley: There were no sales or exports reported during the week. Sorghum: Net sales of 52,900 MT were 38 percent below the previous week and 13 percent under the prior 4-week average. The main buyers were Mexico (28,700 MT) and Japan (14,700 MT). Exports of 117,300 MT were 30 percent above the previous week and 17 percent over the prior 4-week average. The destinations were Mexico (92,000 MT) and Japan (25,300 MT). Rice: Net sales of 125,100 MT were two and nine-tenths times the previous week and 68 percent over the prior 4-week average. The major buyers were Iraq (60,000 MT), Haiti (24,600 MT), Mexico (11,300 MT), Liberia (5,400 MT), Guatemala (4,400 MT), and Ghana (4,300 MT). Exports of 76,900 MT were 18 percent below the previous week and 22 percent under the prior 4- week average. The primary destinations were Haiti (28,000 MT), Mexico (23,600 MT), the United Kingdom (5,900 MT), Cuba (5,200 MT), and Canada (3,600 MT). Soybeans: Net sales of 157,600 MT were 32 percent above the week earlier, but 42 percent below the prior 4-week average. Major increases for Mexico (84,100 MT), Indonesia (70,900 MT, including 57,000 MT switched from unknown destinations), South Korea (29,300 MT), Taiwan (19,500 MT), and Japan (8,800 MT) were partially offset by decreases for unknown destinations (65,000 MT). Sales of 110,800 MT for delivery in 2005/06 were primarily for unknown destinations (110,000 MT). Exports of 451,800 MT were 51 percent above the previous week, but 3 percent under the prior 4-week average. The primary destinations were Mexico (146,800 MT), Indonesia (73,500 MT), Taiwan (72,500 MT), China (63,000 MT), and South Korea (57,800 MT). Soybean Cake and Meal: Net sales of 95,600 MT were 23 percent above the previous week, but 16 percent under the prior 4-week average. The major buyers were the Philippines (27,200 MT), Canada (15,300 MT), Japan (14,100 MT), the Dominican Republic (10,400 MT), and Turkey (7,000 MT). Exports of 175,600 MT were 92 percent above the previous week and 39 percent over the prior 4-week average. The primary destinations were Canada (44,800 MT), Turkey (25,500 MT), Australia (20,800 MT), Mexico (18,600 MT), Tunisia (13,000 MT), Ireland (10,500 MT), and Egypt (8,700 MT). Soybean Oil: Net sales of 7,000 MT were mainly for Mexico (3,700 MT), Nicaragua (1,500 MT), and Canada (1,400 MT). Exports of 6,900 MT were primarily for Mexico (2,800 MT), Canada (2,000 MT), and Guatemala (1,900 MT). Cotton: Net Upland sales of 269,000 RB were 6 percent above the previous week and 43 percent over the prior 4-week average. Turkey (102,300 RB) was the major buyer, with smaller quantities to China (67,500 RB), Indonesia (32,600 RB), Mexico (16,600 RB), Colombia (13,200 RB), and Taiwan (8,900 RB). Net sales of 5,000 RB for delivery in 2005/06 were mainly for Indonesia (2,600 RB) and South Korea (2,000 RB). Exports of 432,200 RB--a marketing-year high--were 27 percent above the previous week and 24 percent over the prior 4-week average. The primary destinations were China (103,800 RB), Turkey (71,300 RB), Pakistan (43,700 RB), Indonesia (42,700 RB), Thailand (34,100 RB), Taiwan (29,900 RB), South Korea (25,700 RB), and Mexico (22,400 RB). Beef: Net sales of 2,700 MT resulted as increases for Mexico (2,500 MT) and Taiwan (400 MT) were partially offset by decreases for China (200 MT, incorrect reporting). Exports of 3,300 MT were mainly for Mexico (3,000 MT) and Canada (200 MT). Note: Accumulated exports for China were adjusted downward by 100 MT due to incorrect reporting.

April 21, 2005 FOREIGN AGRICULTURAL SERVICE/USDA

***

USDA Export Sales Report 04/14 07:40 EXPORT SALES REPORT FOR WEEK ENDING 04/07/05 (in mil bus) Weekly New Crop Sales GRAINS Sales Unshipped Total Prev Yr Weekly Unshipped Corn 36.0 298.2 1374.8 1540.3 0.1 5.6 Sorghum 3.3 21.7 135.8 161.9 0.0 0.1 Soybeans 4.7 90.4 1010.5 871.8 5.3 25.3 All Wheat 14.3 126.4 971.1 1103.9 1.1 18.6 Durum 0.0 2.3 24.5 37.9 0.0 0.2 Hard Red Spring 3.6 43.9 294.0 255.0 1.1 8.0 Hard Red Winter 6.3 51.2 355.0 477.0 0.0 9.0 Soft Red Winter 1.1 7.9 119.7 146.9 0.0 0.5 White Wheat 3.4 21.1 177.9 187.0 0.0 1.0 OTHER COMMODITIES Soyoil (000 mt) 1.8 52.9 361.2 185.3 0.0 0.0 Soymeal (000 mt) 77.9 1005.1 4504.8 3296.2 0.1 83.9 Rice (000 mt) 42.7 628.3 2965.6 3004.5 0.0 1.5 Upland Cotton(000b 253.8 4054.1 11188 12041.6 8.4 637.1

Export Sales Highlights This summary is based on reports from exporters for the period April 1 - 7, 2005. Wheat: Net sales of 389,400 metric tons (MT) were up 90 percent from the previous week and 8 percent higher than the prior 4-week average. Major increases were reported for Taiwan (87,300 MT), China (50,000 MT), Thailand (42,000 MT), Nigeria (32,600 MT), Venezuela (29,400 MT), Colombia (25,800 MT), and Mexico (25,100 MT). Sales of 29,000 MT for delivery in 2005/06 were mainly for Jamaica (26,000 MT). Exports of 467,600 MT were 57 percent above the week earlier and 5 percent over the prior 4-week average. The primary destinations were Japan (138,000 MT), Mexico (53,700 MT), Venezuela (47,600 MT), South Korea (45,900 MT), Yemen (35,600 MT), Nigeria (31,500 MT), Italy (28,500 MT), and the Philippines (26,300 MT). Corn: Net sales of 915,600 MT were 38 percent above the previous week, but 3 percent lower than the prior 4-week average. Major increases were reported for Japan (298,400 MT), unknown destinations (292,000 MT), Egypt (126,000 MT), Mexico (88,700 MT), and Colombia (52,600 MT). Exports of 734,200 MT were 19 percent below the previous week and 6 percent under the prior 4-week average. The principal recipients were Japan (341,700 MT), Mexico (141,600 MT), Taiwan (63,400 MT), Egypt (59,100 MT), the Dominican Republic (34,600 MT, including 16,700 MT late reporting), Costa Rica (34,600 MT), and Canada (22,300 MT). Barley: Net sales reductions of 100 MT were reported for Japan. Exports of 300 MT were to Canada. Sorghum: Net sales of 84,600 MT were 16 percent above the previous week and 72 percent over the prior 4-week average. The main buyers were Mexico (71,500 MT) and Japan (12,200 MT). Exports of 90,300 MT were 8 percent below the previous week and 14 percent under the prior 4-week average. The primary destinations were Mexico (57,700 MT) and Japan (31,600 MT). Rice: Net sales of 42,700 MT were 69 percent below the previous week and 44 percent under the prior 4-week average. The major buyers were Japan (12,100 MT), Mexico (6,900 MT), Canada (6,600 MT), Saudi Arabia (4,700 MT), and Honduras (3,100 MT). Exports of 93,200 MT were 25 percent below the previous week and 2 percent under the prior 4-week average. The primary destinations were Turkey (25,600 MT), Nicaragua (17,900 MT), Japan (13,100 MT), Guatemala (9,500 MT), El Salvador (8,200 MT), and Mexico (6,200 MT). Soybeans: Net sales of 128,800 MT--a marketing-year low--were 62 percent below the previous week and 68 percent under the prior 4-week average. Major increases for Mexico (60,900 MT), unknown destinations (33,000 MT), and Japan (29,800 MT) were partially offset by decreases for Taiwan (9,500 MT) and Guatemala (4,000 MT). Sales of 143,600 MT for delivery in 2005/06 were primarily for unknown destinations (120,000 MT) and the Netherlands (23,000 MT). Exports of 308,900 MT were 36 percent below the previous week and 53 percent under the prior 4-week average. The primary destinations were China (119,000 MT), Japan (71,200 MT), Mexico (62,900 MT), and Morocco (31,100 MT). Soybean Cake and Meal: Net sales of 77,900 MT were two and one-third times the previous week, but 34 percent under the prior 4-week average. The major buyers were Chile (26,200 MT), Colombia (22,000 MT), Mexico (19,000 MT), Japan (15,400 MT), and the Philippines (10,000 MT). Exports of 91,300 MT were 26 percent above the previous week, but 32 percent under the prior 4-week average. The primary destinations were Mexico (36,800 MT), Chile (26,200 MT), Canada (12,200 MT), and Honduras (8,900 MT). Soybean Oil: Net sales of 1,800 MT were mainly for El Salvador (1,000 MT) and Canada (500 MT). Exports of 1,700 MT were primarily for Mexico (1,200 MT) and Canada (200 MT). Cotton: Net Upland sales of 253,800 RB were 39 percent above the previous week and 63 percent over the prior 4-week average. The major buyers were China (138,100 RB), Turkey (49,700 RB), South Korea (17,300 RB), Indonesia (14,400 RB), and Bangladesh (10,100 RB). Net sales of 8,400 RB for delivery in 2005/06 were mainly for Indonesia (4,000 RB) and Japan (3,000 RB). Exports of 339,400 RB were 4 percent greater than the previous week and 1 percent above the prior 4-week average. The primary destinations were China (111,500 RB), Turkey (78,100 RB), Indonesia (25,500 RB), Mexico (21,800 RB), Thailand (20,000 RB), and Taiwan (16,000 RB). Net American Pima sales of 3,200 RB were mainly to Turkey (1,200 RB). Exports of 9,200 RB were primarily for Pakistan (3,600 RB). Beef: Net sales of 2,800 MT were primarily for Mexico (1,800 MT), Taiwan (300 MT), Canada (300 MT), and China (200 MT). Exports of 3,900 MT were mainly for Mexico (3,400 MT), Canada (300 MT), and Germany (100 MT).

April 14, 2005 FOREIGN AGRICULTURAL SERVICE/USDA

***

WA_GR101 *resending to include wheat by port and class* Washington, DC Mon 04/11/05 USDA, Market News

GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT - 1,000 BUSHELS - ------------------------------------------------------------------------------- CURRENT PREVIOUS ------------ WEEK ENDING ----------- MARKET YEAR MARKET YEAR GRAIN 04/07/05 03/31/05 04/08/04 TO DATE TO DATE

WHEAT 17,598 12,846 22,135 894,025 970,001 RYE 0 0 0 0 1 OATS 0 0 0 5 239 BARLEY 0 0 0 12,386 17,103 FLAXSEED 0 0 0 934 1,806 CORN 26,199 30,882 45,747 1,026,315 1,151,309 SORGHUM 2,781 3,161 2,987 92,741 115,650 SOYBEANS 11,365 17,021 7,202 900,119 775,453 SUNFLOWER 0 0 0 0 0

TOTAL 57,943 63,910 78,071 2,926,525 3,031,562 -------------------------------------------------------------------------------

CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.

INCLUDES WATERWAY SHIPMENTS TO CANADA.

SOYBEANS INSPECTED AND/OR WEIGHED FOR EXPORT BY PORT AREA AND COUNTRY OF DESTINATION REPORTED IN WEEK ENDING APR 07, 2005 - 1,000 BUSHELS -

------------------------------------------------------------------------------- CHICAGO INDONESIA 46

S. ATLANTIC MOROCCO 1,143

MISSISSIPPI R. BARBADOS 74 COSTA RICA 670 JAPAN 2,485 MEXICO 210

PUGET SOUND CHINA MAIN 4,372

INTERIOR CHINA T 319 INDONESIA 456 JAPAN 9 MEXICO 1,581

TOTAL 11,365 ------------------------------------------------------------------------------- INCLUDES SHIPMENTS TO CANADA.

WHEAT INSPECTED AND/OR WEIGHED FOR EXPORT BY CLASS, REGION AND PORT ARE REPORTED IN WEEK ENDING APR 07, 2005 - 1,000 BUSHELS - ----------------------------------------------------------------------------- REGION/PORT HARD RED HARD RED SOFT RED SOFT DURUM TOTALS SPRING WINTER WINTER WHITE ST LAWR SWY MONTREAL 0 0 0 0 0 0 SEAWAY 0 0 0 0 0 0 SUBTOTAL 0 0 0 0 0 0

LAKES CHICAGO 0 0 0 0 0 0 DULUTH-SUP 0 0 0 0 0 0 TOLEDO 0 0 0 0 0 0 SAGINAW 0 0 0 0 0 0 PORT HURON 0 0 0 0 0 0 SUBTOTAL 0 0 0 0 0 0

ATLANTIC N. ATLANTIC 0 0 0 0 0 0 S. ATLANTIC 0 0 0 0 0 0 SUBTOTAL 0 0 0 0 0 0

GULF MISSISSIPPI R. 2,187 678 1,025 0 378 4,268 EAST GULF 0 0 0 0 0 0 N. TEXAS 349 305 0 0 0 654 S. TEXAS 0 187 422 0 0 609 SUBTOTAL 2,536 1,170 1,447 0 378 5,531

PACIFIC COLUMBIA R. 3,451 3,590 0 4,258 0 11,299 PUGET SOUND 0 0 0 0 0 0 CALIFORNIA 0 0 0 0 0 0 SUBTOTAL 3,451 3,590 0 4,258 0 11,299

INTERIOR INTERIOR 0 753 15 0 0 768 SUBTOTAL 0 753 15 0 0 768

TOTAL 5,987 5,513 1,462 4,258 378 17,598

WHEAT SHIPPED FOR STORAGE IN CANADA IS REPORTED AT TIME OF SHIPMENT FROM ST LAWR SWY PORTS PRIOR TO MAY 1, 1990, ALL HARD AND SOFT WHITE WHEAT VARIETIES WERE CLASSIF IED AS WHITE WHEAT.

SOURCE: FEDERAL GRAIN INSPECTION SERVICE

GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT BY REGION AND PORT AREA REPORTED IN WEEK ENDING 04/07/2005 - 1,000 BUSHELS - ------------------------------------------------------------------------------- REGION WHEAT CORN SORGHUM SOYBEANS TOTALS PORT YELLOW WHITE

LAKES CHICAGO 0 0 0 0 46 46 DULUTH-SUP 0 0 0 0 0 0 TOLEDO 0 0 0 0 0 0 SAGINAW 0 0 0 0 0 0 PORT HURON 0 0 0 0 0 0 SUBTOTAL 0 0 0 0 46 46

ATLANTIC N. ATLANTIC 0 0 0 0 0 0 S. ATLANTIC 0 0 0 0 1,143 1,143 SUBTOTAL 0 0 0 0 1,143 1,143

GULF MISSISSIPPI R. 4,268 17,997 622 2,194 3,439 28,520 EAST GULF 0 0 0 0 0 0 N. TEXAS 654 0 0 0 0 654 S. TEXAS 609 0 0 0 0 609 SUBTOTAL 5,531 17,997 622 2,194 3,439 29,783

PACIFIC COLUMBIA R. 11,299 1,720 0 0 0 13,019 PUGET SOUND 0 3,497 0 0 4,372 7,869 CALIFORNIA 0 0 0 0 0 0 SUBTOTAL 11,299 5,217 0 0 4,372 20,888

INTERIOR INTERIOR 768 2,363 0 587 2,365 6,083 SUBTOTAL 768 2,363 0 587 2,365 6,083

TOTALS 17,598 25,577 622 2,781 11,365 57,943

-------------------------------------------------------------------------------- - INCLUDES SHIPMENTS TO CANADA AND DOES NOT INCLUDE SHIPMENTS OF U.S. GRAIN FROM T HE ST. LAWRENCE SEAWAY. MIXED CORN IS INCLUDED IN YELLOW CORN.

GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT BY REGION AND COUNTRY OF DESTINATION REPORTED IN WEEK ENDING APR 07, 2005 - 1,000 BUSHELS - -------------------------------------------------------------------------------- - REGION/COUNTRY WHEAT YELLOW WHITE SORGHUM SOYBEANS TOTAL CORN CORN LAKES INDONESIA 0 0 0 0 46 46 SUBTOTAL 0 0 0 0 46 46

ATLANTIC MOROCCO 0 0 0 0 1,143 1,143 SUBTOTAL 0 0 0 0 1,143 1,143

GULF BARBADOS 189 98 0 0 74 361 COLOMBIA 551 440 0 0 0 991 COSTA RICA 449 1,629 195 0 670 2,943 DOMINICN REP 357 708 0 0 0 1,065 EGYPT 0 2,325 0 0 0 2,325 EL SALVADOR 0 154 0 0 0 154 HAITI 305 0 0 0 0 305 HONDURAS 0 515 206 0 0 721 JAPAN 0 9,425 0 1,162 2,485 13,072 KENYA 349 0 0 0 0 349 MEXICO 500 2,703 0 1,032 210 4,445 NICARAGUA 0 0 221 0 0 221 NIGERIA 843 0 0 0 0 843 REP S AFRICA 237 0 0 0 0 237 VENEZUELA 1,751 0 0 0 0 1,751 SUBTOTAL 5,531 17,997 622 2,194 3,439 29,783

PACIFIC CHINA MAIN 0 0 0 0 4,372 4,372 CHINA T 0 2,480 0 0 0 2,480 JAPAN 5,826 2,737 0 0 0 8,563 KOREA REP 1,547 0 0 0 0 1,547 PHILIPPINES 965 0 0 0 0 965 SUDAN 1,653 0 0 0 0 1,653 YEMEN 1,308 0 0 0 0 1,308 SUBTOTAL 11,299 5,217 0 0 4,372 20,888

INTERIOR CHINA T 0 243 0 0 319 562 INDONESIA 0 0 0 0 456 456 JAPAN 0 0 0 0 9 9 KOREA REP 0 3 0 0 0 3 MEXICO 768 2,117 0 587 1,581 5,053 SUBTOTAL 768 2,363 0 587 2,365 6,083

TOTAL 17,598 25,577 622 2,781 11,365 57,943

SHIPMENTS TO CANADA* 0 0 0 0 0 0 -------------------------------------------------------------------------------- - *NOT INCLUDED IN TOTAL INSPECTION FOR EXPORTS GRAIN SHIPPED FOR STORAGE IN CANAD A IS REPORTED AT TIME OF SHIPMENT FROM ST LAWR SWY PORTS



MONDAY APRIL 11, 2005

CORRECTIONS TO PREVIOUS PUBLICATIONS:

FOR CERTDATE 12/31/04 ADD 2575 Y. SOYBEANS FROM MISS. R. TO GERMANY FOR CERTDATE 12/31/04 SUBTRACT 2575 Y. SOYBEANS FROM MISS. R. TO NETHERLANDS FOR CERTDATE 01/11/05 ADD 2428 Y. CORN FROM MISS. R. TO SYRIA FOR CERTDATE 01/11/05 SUBTRACT 2428 Y. CORN FROM MISS. R. TO EGYPT FOR CERTDATE 01/29/05 ADD 1476 Y. CORN FROM MISS. R. TO SYRIA FOR CERTDATE 01/29/05 SUBTRACT 1476 Y. CORN FROM MISS. R. TO JORDAN FOR CERTDATE 02/06/05 ADD 366 SRW WHEAT FROM MISS. R. TO GUATEMALA FOR CERTDATE 02/06/05 SUBTRACT 366 SRW WHEAT FROM MISS. R. TO EL SALVADOR FOR CERTDATE 02/07/05 ADD 694 Y. CORN FROM MISS. R. TO GUATEMALA FOR CERTDATE 02/07/05 SUBTRACT 694 Y. CORN FROM MISS. R. TO EL SALVADOR FOR CERTDATE 02/08/05 ADD 375 HRS WHEAT FROM MISS. R. TO NAMIBIA FOR CERTDATE 02/08/05 SUBTRACT 375 HRS WHEAT FROM MISS. R. TO AUSTRALIA FOR CERTDATE 02/22/05 ADD 122 SRW WHEAT FROM MISS. R. TO GUATEMALA FOR CERTDATE 02/22/05 SUBTRACT 122 SRW WHEAT FROM MISS. R. TO EL SALVADOR FOR CERTDATE 02/23/05 ADD 535 HRW WHEAT FROM MISS. R. TO GUATEMALA FOR CERTDATE 02/23/05 SUBTRACT 535 HRW WHEAT FROM MISS. R. TO EL SALVADOR FOR CERTDATE 02/23/05 ADD 929 Y. CORN FROM MISS. R. TO GUATEMALA FOR CERTDATE 02/23/05 SUBTRACT 929 Y. CORN FROM MISS. R. TO EL SALVADOR FOR CERTDATE 02/28/05 ADD 1 Y. SOYBEANS FROM INTERIOR TO INDONESIA FOR CERTDATE 03/03/05 ADD 6 Y. CORN FROM INTERIOR TO MEXICO FOR CERTDATE 03/07/05 SUBTRACT 5 Y. SOYBEANS FROM INTERIOR TO INDONESIA FOR CERTDATE 03/09/05 ADD 1 Y. SOYBEANS FROM PUGET SOUND TO CHINA T FOR CERTDATE 03/11/05 ADD 12 HRW WHEAT FROM PUGET SOUND TO MALAYSIA FOR CERTDATE 03/19/05 ADD 2441 Y. SOYBEANS FROM MISS. R. TO GERMANY FOR CERTDATE 03/19/05 SUBTRACT 2441 Y. SOYBEANS FROM MISS. R. TO PORTUGAL FOR CERTDATE 03/24/05 ADD 51 Y. SOYBEANS FROM INTERIOR TO INDONESIA FOR CERTDATE 03/24/05 SUBTRACT 51 Y. SOYBEANS FROM INTERIOR TO MEXICO FOR CERTDATE 03/28/05 ADD 15 HRW WHEAT FROM N. TEXAS TO ETHIOPIA FOR CERTDATE 03/29/05 ADD 13 HRW WHEAT FROM N. TEXAS TO ETHIOPIA FOR CERTDATE 03/29/05 ADD 455 SORGHUM FROM N. TEXAS TO MEXICO FOR CERTDATE 03/29/05 ADD 31 Y. CORN FROM N. TEXAS TO SOMALIA FOR CERTDATE 03/29/05 ADD 169 Y. SOYBEANS FROM INTERIOR TO MEXICO FOR CERTDATE 03/30/05 ADD 27 HRW WHEAT FROM N. TEXAS TO ETHIOPIA FOR CERTDATE 03/30/05 ADD 24 SWH WHEAT FROM COLUMBIA R. TO KOREA REP FOR CERTDATE 03/30/05 ADD 163 Y. SOYBEANS FROM INTERIOR TO MEXICO FOR CERTDATE 03/31/05 ADD 361 HRW WHEAT FROM S. TEXAS TO NIGERIA FOR CERTDATE 03/31/05 ADD 74 SWH WHEAT FROM COLUMBIA R. TO KOREA REP FOR CERTDATE 03/31/05 ADD 16 Y. CORN FROM INTERIOR TO MEXICO

Source: Federal Grain Inspection Service

Washington, DC 202-720-7316 Http://www.ams.usda.gov/mnreports/wa_gr105.txt

US S&D Summary 06/09

US Supply/Demand Estimates 06/09 Million Bushels --------Corn------- ------Soybeans----- -------Wheat------ Crop Year 16-17 17-18 17-18 16-17 17-18 17-18 16-17 17-18 17-18 Report Date 06/09 05/10 06/09 06/09 05/10 06/09 06/09 05/10 06/09 Carryin 1,737 2,295 2,295 197 435 450 976 1,159 1,161 Production 15,148 14,065 14,065 4,307 4,255 4,255 2,310 1,820 1,824 Imports 55 50 50 25 25 25 117 125 130 Tot Supply 16,940 16,410 16,410 4,528 4,715 4,730 3,402 3,105 3,115

Feed 5,500 5,425 5,425 190 170 170 Crush/mill* 1,440 1,470 1,470 1,910 1,950 1,950 955 955 955 Ethanol Prod 5,450 5,500 5,500 Seed/other 30 30 30 118 135 135 61 66 66 Exports 2,225 1,875 1,875 2,050 2,150 2,150 1,035 1,000 1,000 Total Use 14,645 14,300 14,300 4,078 4,235 4,235 2,241 2,191 2,191 Carryout 2,295 2,110 2,110 450 480 495 1,161 914 924 Stks/Use Rat 15.7% 14.8% 14.8% 11.0% 11.3% 11.7% 51.8% 41.7% 42.2% Avg Price 3.35 3.40 3.40 $9.55 $9.30 $9.30 $3.90 $4.25 $4.30 *Excludes corn for ethanol

DTN COMMENTS: USDA's kept its estimate of U.S. corn ending stocks for 2016-17 unchanged at 2.295 billion bushels, roughly as expected. The estimate of ending corn stocks for 2017-18 was kept unchanged at 2.110 billion bushels, a little more than expected.

USDA's estimate of U.S. soybean ending stocks for 2016-17 was increased from 435 to 450 million bushels, a little more than expected. The estimate of ending soybean stocks for 2017-18 was increased from 480 to 495 million bushels, as expected.

USDA's estimate of U.S. ending wheat stocks for 2016-17 was increased from 1.159 to 1.161 billion bushels, roughly as expected. The estimate of ending wheat stocks for 2017-18 was nudged up from 914 to 924 million bushels, a little more than expected. U.S. winter wheat production was estimated at 1.25 billion bushels, still close to May's estimate of 1.246 billion bushels.

Friday's new U.S. ending stocks estimates were neutral for corn, soybeans, and wheat.

USDA South Carolina Closing Grain 06/27 14:15

USDA Arkansas Daily Grain 06/27 14:10

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