The USDA is projecting slightly higher planted area for upland cotton against a year to year drop for rice.
Upland cotton acreage is seen at 11.894 million acres, up 4,000 acres on the year, and more than what analysts were anticipating heading into the report. The biggest year to year increase in upland cotton acreage is expected to be in Missouri, with the USDA expecting a rise of 32%.
Planted area for all types of rice is projected at 2.71 million acres, down 11% from last year, including a drop of 15% in Arkansas, the largest producer of long grain rice.