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Texas AgriLife economist John Robinson says the July WASDE raised world cotton ending stocks by 1.73 million bales, as higher carry-in in Brazil, India and Pakistan output outweighed lower trade and consumption. US production was unchanged at 16.5 million bales, while US new-crop exports were cut by 250,000 bales.
Higher world cotton stocks are price-bearish for cotton and, through cottonseed supply, weigh lightly on cottonseed meal values.
textiletoday.com.bdJul 9, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
