# US harvest downgrade lifts cotton futures to contract high - Grain Price News

> The USDA's March WASDE cut the 2021-22 U.S. cotton stocks forecast by 200,000 bales to 3.20 million, and March cotton futures touched a contract high of 18.99 cents per pound. The same report raised U.S. all-wheat stocks by 30 million bushels to 628 million. Winter wheat seedings were reported at 34.40 million acres, a six-year high.

- Date: 2022-03-15 · published 2022-03-15T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/42406-us-harvest-downgrade-lifts-cotton-futures-to-contract-high-grain-price-news
- Commodities: [Cottonseed Meal](https://feedsoft.ai/c/CSM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A smaller cotton crop means less cottonseed available for crushing, which tightens cottonseed meal supply. The wheat stock upgrade is bearish for wheat values.

## Read by commodity

- CSM: bullish ▲
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-11-09 | [Wheat prices hold near two-month lows, after US lifts world supply hopes - Grain Price News](https://feedsoft.ai/events/38647-wheat-prices-hold-near-two-month-lows-after-us-lifts-world-supply-hopes-grain.md) | +1.1% | -9.0% |
| WHEAT | 2018-12-10 | [Harvest tonnages continue to exceed projections in WA - Grain Central](https://feedsoft.ai/events/61502-harvest-tonnages-continue-to-exceed-projections-in-wa-grain-central.md) | +0.8% | +1.7% |
| WHEAT | 2022-07-05 | [Grain prices plunge, as Canada data add to pressure from market mayhem - Grain Price News](https://feedsoft.ai/events/5056-grain-prices-plunge-as-canada-data-add-to-pressure-from-market-mayhem-grain.md) | -5.0% | -4.3% |
| WHEAT | 2017-08-15 | [Industry doubts on high USDA grain production figures  \| Farm Online \| ACT](https://feedsoft.ai/events/69395-industry-doubts-on-high-usda-grain-production-figures-farm-online-act.md) | -4.4% | +1.1% |
| WHEAT | 2020-12-03 | [Second largest harvest on record sees grain prices fall \| Meat & Livestock Australia](https://feedsoft.ai/events/49629-second-largest-harvest-on-record-sees-grain-prices-fall-meat-and-livestock.md) | +9.8% | +9.8% |

## Sources

- grainpricenews.com: https://grainpricenews.com/2022/03/15/us-harvest-downgrade-lifts-cotton-futures-to-contract-high/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.