The USDA has increased its outlooks for U.S. cotton and rice production.
The upland cotton crop is pegged at 17.852 million bales, up 201,000 from October following an upward revision for average yield to 874 pounds per acre, and 27% above 2020 due to an increase in planted area. Rice production is projected at 193.818 million hundredweight, 3.272 million more than a month ago, also following a higher average yield guess, now at 7,756 pounds per acre, but 33.765 million less than last year due to a decline in acreage.
