|
S Illinois | Had to go a little further into their report. 22/23 would be the crop planted in May-June 22(edited to reflect correct year) and used through Sept 23. Here is this coming years forecast wording:
"The early USDA projection for 2023 U.S. cotton planted area is 10.9 million acres, 21 percent below 2022’s 13.8 million acres and the lowest since 2016. Historically, the relationship between expected harvest prices for cotton relative to corn and soybeans has played an important role in the cotton area planted. Cotton harvest futures prices from mid-January through mid-February 2023 averaged 17 cents (17 percent) below price expectations in early 2022. For the same period, 2023 harvest prices for corn were 3 percent higher while soybean prices were marginally lower. Consequently, these relative crop prices indicate that cotton is less competitive this year compared with alternative crops. In addition, cotton’s high production costs are expected to further limit producer net returns."
Edited by w1891 3/24/2023 14:47
| |
|
Corn planting estimates
