By John Perkins.

The USDA increased its domestic cotton and rice ending stocks estimates.

U.S. rice stocks are now pegged at 47 million hundredweight, up 3.5 million from January on higher imports and lower exports, which canceled out a gain in the domestic and residual use guess. The average 2024/25 farm price was cut $.20 to $15.40 per hundredweight.

U.S. cotton stocks are seen at 4.9 million bales, 100,000 more than last month on a reduction in domestic use. The average 2024/25 farm price is estimated at $.635 per pound, down $.015.

Globally, the USDA trimmed rice ending stocks and production modestly, while raising exports for India, the top global seller.

World cotton ending stocks and production were higher, mostly due to bigger projections for Brazil.

The USDA’s next round of supply, demand, and production numbers is out March 11^th.

Published Date: February 12, 2025