Tridge summary
The USDA has increased its ending stocks estimates for both U.S. cotton and rice for the new crop. The rice carryout is now projected to be 46 million hundredweight, up by 1.5 million from June, due to expectations of a larger crop, higher imports, and increased rough rice exports. Cotton ending stocks are expected to rise by 1.2 million to 5.3 million bales, due to higher old crop stocks and a reduction in exports against higher production. Global new crop rice and cotton production estimates have also been revised upwards, leading to higher export projections.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The USDA’s new crop U.S. cotton and rice ending stocks estimates were up on the month.The rice carryout is now seen at 46 million hundredweight, up 1.5 million from June on expectations for a larger crop and higher imports, along with an increase in rough rice exports.Cotton ending stocks are projected at 5.3 million bales, a jump of 1.2 million, on higher old crop stocks following a cut in exports against higher production.The current cotton and rice production estimates are based on the USDA’s most recent planted area numbers and trendline yields.Globally, new crop rice production was revised higher on increased expectations for the U.S. and Pakistan, which led to bigger export projections, with ...
Source: Brownfield Ag
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