News

USDA reduces cotton, rice crop estimates

The USDA has reduced its expectations for 2023 cotton and rice production.

This year’s upland cotton crop is projected at 12.461 million bales, a reduction of 2% from September due to a lower yield guess to 759 pounds per acre, which canceled out a cut in exports, leading to a month-to-month reduction in domestic ending stocks to 2.8 million bales. In 2022, upland cotton production was 13.998 million bales, with an average yield of 942 pounds per acre on harvested area of 7.88 million acres.

Rice production is pegged at 220.508 million hundredweight, a drop of 399 million from the previous report, with a lower, but still record large, average yield guess of 7,737 pounds per acre, and tighter U.S. ending stocks at 41.8 million hundredweight. Last year, production was 160.368 million hundredweight, with an average yield of 7,383 pounds on harvested area of 2.172 million acres.

Harvest for both cotton and rice is ongoing.

The USDA’s next set of supply, demand, and production estimates is out November 9^th.

Comparisons for Brownfield states:

Arkansas: Cotton: 1.25 million bales, compared to 1.548 million in 2022; Average Yield: 1,188 pounds per acre, compared to 1,141 a month ago and 1,179 a year ago; Harvested Area: 505,000 acres, compared to 630,000 last year

Rice: TOP 106.531 million hundredweight, compared to 80.34 million in 2022; Average Yield: 7,550 pounds per acre, compared to 7,550 a month ago and 7,410 a year ago; Harvested Area: 1.411 million acres, compared to 1.084 million last year

Kansas: Cotton: 165,000 bales, compared to 166,000 in 2022; Average Yield: 900 pounds per acre, compared to 693 a month ago and 577 a year ago; Harvested Area: 88,000 acres, compared to 138,000 last year

Missouri: Cotton: 680,000 bales, compared to 878,000 in 2022; Average Yield: 989 pounds per acre, compared to 1,120 a month ago and 1,240 a year ago; Harvested Area: 330,000 acres, compared to 340,000 last year

Rice: 16.037 million hundredweight, compared to 11.832 million in 2022; Average Yield: 7,900 pounds per acre, compared to 8,000 a month ago and 7,940 a year ago; Harvested Area: 203,000 acres, compared to 149,000 last year

Tennessee: Cotton: 580,000 bales, compared to 713,000 in 2022; Average Yield: 1,071 pounds per acre, compared to 1,015 a month ago and 1,053 a year ago; Harvested Area: 260,000 acres, compared to 340,000 last year