Cotton: USA raises projection to 3.07 million tons

According to the weekly analysis by the Mato-Grossense Institute of Agricultural Economics (Imea), released on Monday (24), the USDA resumed the release of the monitoring of the cotton crop in the United States after the end of the U.S. government shutdown. As of Sunday (23/11), the harvest reached 79% of the projected area. The agency reports that the percentage is "4 p.p. behind compared to the same period of the previous crop" and "1 p.p. below the average of the last five years". The USDA attributes the slower pace to the performance of Texas, the largest producer in the country, which reached 70% of the harvested area, a result "9 p.p. behind the annual comparison". Although it did not disclose the conditions of the crops, the latest supply and demand report increased the production forecast ...