The USDA has lowered its cotton production estimate while raising the outlook for rice.

The USDA has upland cotton production at 16.5 million bales, a decrease of 1% from September and 14% from 2019 with an average yield of 899 pounds per acre, unchanged from last month and 89 more than last year. All cotton is expected to total 17.045 million bales, with an average yield of 909 pounds per acre and harvested area of 9.005 million acres, compared to 19.913 million bales, 823 pounds per acre, and 11.613 million acres the year before.

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