The USDA has tightened the domestic balance sheets for old and new crop cotton and rice.

Old crop rice stocks are pegged at 40.9 million hundredweight, down 2 million on the month, with the USDA lowering imports and raising exports by 1 million hundredweight each, pulling new crop ending stocks 2 million hundredweight lower to 39 million, with no other adjustments. The average 2020/21 farm price is estimated at $13.90 per hundredweight, compared to $13.60 for 2019/20 and the projection of $14.20 for 2021/22.

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