abstract:The stocks-to-use ratio (S/U) is a convenient measure of supply and demand interrelationships of commodities. This ratio indicates the level of carryover stock for any given commodity as a percentage of the total use of the commodity.
The stocks-to-use ratio in the world outside China is expected torisefrom 46% to 55%, whichcould translate into a significantdeclinein the season-averageCotlook AIndex.