The USDA is projecting fewer cotton acres this year and larger planted area for rice.
Upland cotton acres are pegged at 11.102 million, a drop of 18% on the year, with the biggest year-to-year decline in Texas, which is being severely impacted by drought in some key growing areas.
Rice acres are seen at 2.583 million, up 16% from 2022 on demand expectations, including a 9% increase for long grain rice to 1.957 million acres.
