News

USDA raises cotton crop estimate, reduces rice

The USDA has increased its outlook for upland cotton production and lowered the crop estimate for rice.

As of November 1st, upland cotton is seen at 16.535 million bales, a little bit more than in October, but down 2.692 million from 2019, with an average yield of 901 pounds per acre, up 2 on the month and 91 on the year. U.S. cotton stocks were unchanged at 7.2 million bales, with the higher production guess canceled out by an increase for unaccounted for supplies. The average 2020/21 farm price is estimated at $.64 per pound, compared to $.61 in the previous report and $.596 in the prior marketing year.

Rice is pegged at 226.121 million hundredweight, slightly less than last month, but up 41.446 million from last year, with an average yield of 7,560 pounds per acre, 7 under a month ago, but 89 above a year ago. U.S. rice ending stocks of 49.5 million hundredweight were 1.8 million hundredweight higher on lower production and export expectations. The average 2020/21 farm price is estimated at $12.90 per hundredweight, compared to $12.80 in October and $13.50 last marketing year.

Globally, cotton and rice stocks were both up modestly from October at 101.44 million bales and 179.78 million tons, respectively.

The USDA’s next set of supply, demand, and production numbers is out December 10th.

Comparisons for Brownfield states:

Arkansas: Cotton: 1.3 million bales, compared to 1.506 million in 2019; average yield of 1,200 pounds per acre, compared to 1,200 a month ago and 1,185 a year ago; harvested area of 520,000 acres, compared to 610,000 last year; Rice: 108.075 million hundredweight, compared to 84.257 million in 2019; average yield of 7,500 pounds per acre, compared to 7,500 a month ago and 7,480 a year ago; harvested area of 1.441 million acres, compared to 1.126 million last year

Missouri: Cotton: 685,000 bales, compared to 915,000 in 2019; average yield of 1,146 pounds per acre, compared to 1,171 a month ago and 1,193 a year ago; harvested area of 287,000 acres, compared to 368,000 last year; Rice: 16.77 million hundredweight, compared to 12.747 million in 2019; average yield of 7,800 pounds per acre, compared to 7,900 a month ago and 7,370 a year ago; harvested 215,000 acres, compared to 173,000 last year

Tennessee: Cotton: 640,000 bales, compared to 960,000 in 2019; average yield of 1,117 pounds per acre, compared to 1,065 a month ago and 1,138 a year ago; harvested area of 275,000 acres, compared to 405,000 last year