U.S. FEED GRAIN CARRYOVER AND RESERVES MIL. METRIC TONS U.S. WHEAT CARRYOVER MIL. METRIC TONS OL 1970 71 72 73 74 75 76 77 78 79 80 1970 71 72 73 74 75 76 77 78 79 80 USDA/ESS JANUARY 1981 10 1970/71 1971/72 1971/72 1975/76 1976/77 1977/78 1978/79 1979/80 1980/81 Million metric tons 1/ June 1 for wheat, barley, and oats; October 1 for corn & sorghum; August 1 for rice. Mr. AHALT. The horizontal portion of the bar shows the total stocks of grain. The black part of the bar shows the amount in reserve, either owned by CCC or held in the farmer-owned reserve. Here, Mr. Chairman, the left side of the chart shows the tremendous drop that we anticipate in U.S. feed grain reserves. We are projecting a total carryover to end up at the end of the 1980-81 season to be about 21 million tons, compared with 52 last year. In the case of wheat, a wheat crop in 1980 means that we are not expecting much change in the total stock position at the end of the current season. OILSEEDS OUTLOOK Moving on to page 40, we show some similar comparisons for oilseeds. [The chart referred to follows:] 1/ Forecast; depends largely on outcome of Southern Hemisphere harvests this spring. 2/ Includes soybean, fish, peanut, sunflower, cotton, linseed, rapeseed, copra, and palm meal expressed in terms of 44 percent soybean meal. 3/ Soybean stocks in U.S., W. Europe, Argentina and Brazil plus stocks of all other oilseeds in U.S. and Canada. Mr. AHALT. Over time, there has been a tremendous increase in oilseed production on an annual basis, but a very sharp drop occurred this past year, primarily due to the poor soybean, sunflower and peanut crops here in the United States due to weather. This caused world production to drop, while consumption continued to move up. On the bottom part of the chart, you see this pulled stocks down, changing the situation tremendously from a year ago. A similar kind of comparison on oils is on page 41. [The chart referred to follows:] |