The USDA has increased its outlook for U.S. rice ending stocks, while leaving cotton unchanged from February.
Rice ending stocks are projected at 34.5 million hundredweight, 1 million more than a month ago following a reduction in the export guess. The average farm price is estimated at $15.90 per hundredweight, up $.20.
There were no changes to the domestic balance sheet for cotton, with an average estimated farm price for upland cotton of $.90 per pound.
