The USDA has raised new crop cotton and rice ending stocks projections.
New crop cotton ending stocks are now seen at 3.3 million bales, up 400,000 from June, following an increase in the production guess, which canceled out higher export demand. Old crop cotton ending stocks were unchanged.
New crop rice ending stocks are pegged at 41.3 million hundredweight, up 2.3 million on the month, with a decrease in production and increase in exports canceled out by larger beginning stocks and higher imports.
