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The National Cotton Council's mid-year report shows US cotton exports for 2018 missed the USDA forecast by 1.3 million bales, leaving ending stocks at 5.3 million bales, the largest since 2008. Mill use estimates were also cut by nearly 3 million bales.
The trade war with China is disrupting cotton supply chains.
Weaker exports and larger stocks point to ample cottonseed supply, which is bearish for cottonseed meal prices while trade uncertainty persists.
farmprogress.comBrad RobbAug 28, 2019Not 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.
