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An AgWeb outlook expects the US Cotton Belt to plant about 12 million acres in 2022, up from 11.2 million in 2021, with the figure depending on La Niña dryness. Cotton hit $1.21 per pound in November 2021, and December futures are trading near 90 cents.
Higher cotton plantings would increase cottonseed output, adding supply to cottonseed meal, a feed ingredient, while La Niña dryness in Texas could cut yields.
agweb.comFarm Journal EditorsDec 23, 2021After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 1,773 past weather events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +2.1%), and +0.2% over 20.
After 361 past weather events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +1.3%), and -0.2% over 20.
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.
