The USDA has raised its’ outlook for U.S. rice ending stocks, while leaving cotton unchanged on the month.
Rice ending stocks are now seen at 30 million hundredweight, up 1.4 million on the month, with an increase in imports cancelling out higher exports, and the USDA now sees the average annual price at $13 per hundredweight, down $.20 from January. U.S. cotton ending stocks are projected at 5.4 million bales, with no changes to the balance sheet, with an average price of sixty two cents per pound for upland cotton, a penny less than last month.
Continue reading USDA expects bigger U.S. rice supply at Brownfield Ag News.
