The USDA says 2021 upland cotton production was 17.191 million bales. That was up more than 3 million bales from 2020, with lower yield and planted area canceled out by a big increase in harvested acreage. Still, that was down from the April estimate, which pulled old crop ending stocks lower, while new crop ending stocks are expected to fall short of 3 million bales with a projected smaller crop cancelling out slower demand.
Old crop rice ending stocks were unchanged with higher imports cancelling out lower export and domestic use, and new crop ending stocks are expected to be below the current marketing year with the USDA declines in production and demand.
