The USDA is projecting fewer cotton acres this year and larger planted area for rice.

Upland cotton acres are pegged at 11.102 million, a drop of 18% on the year, with the biggest year-to-year decline in Texas, which is being severely impacted by drought in some key growing areas.

Rice acres are seen at 2.583 million, up 16% from 2022 on demand expectations, including a 9% increase for long grain rice to 1.957 million acres.

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