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USDA's November WASDE cut its 2026-27 global cotton production forecast to 117.48 million bales. The reduction reflects smaller crops in India, the US, Turkiye and Argentina, partly offset by higher output in China and Australia.
Global consumption and ending stocks were also lowered.
Smaller cotton crops reduce cottonseed supply for meal and hull production, which could lend modest support to cottonseed meal prices.
Not 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.