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USDA revises cotton output at 19.8mn bales
22 Jul '05
1 min read
USDA has raised output forecast of this year's US cotton crop to 19.8 million bales on the basis of higher area of cultivation.
USDA raised 2004 ending stocks by 500,000 bales due to lower expected exports; however it reduced starting stocks by 300,000 bales.
USDA now predicts output at 19.8 million bales, pointing increased planted area. The US export is anticipated to reduce to 14.5 million bales due to higher foreign output and lower Chinese imports. Ending stocks are forecast at 6.7 million bales, or 33 percent of total use.
The global 2005-06 forecast consist 11 percent increase in ending stocks. World ending stocks are now expected at about 49 million bales, has climbed 4.9 millions bales since last month.
USDA raised 2004 ending stocks by 500,000 bales due to lower expected exports; however it reduced starting stocks by 300,000 bales.
USDA now predicts output at 19.8 million bales, pointing increased planted area. The US export is anticipated to reduce to 14.5 million bales due to higher foreign output and lower Chinese imports. Ending stocks are forecast at 6.7 million bales, or 33 percent of total use.
The global 2005-06 forecast consist 11 percent increase in ending stocks. World ending stocks are now expected at about 49 million bales, has climbed 4.9 millions bales since last month.
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