The USDA is anticipating larger cotton and rice crops in 2023.

This year’s cotton crop is estimated at 15.5 million bales, which would be up more than a million from 2022, with higher harvested area canceling out an expected lower yield. Harvested area this year is pegged at 8.71 million acres, compared to 7.31 million a year ago, with an average yield of 854 pounds per acre, compared to 950 last year.

New crop cotton ending stocks are seen at 3.3 million bales, compared to the projection of 3.5 million for the current marketing year, with the USDA expecting better export demand.

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