Markets Extra

US cotton harvest progress, October 18

Markets Extra19 Oct 2020by Markets Extra

Agrimoney crunches weekly USDA cotton harvest progress data for the week to Sunday.

For the previous week’s data, click here.

US cotton harvest progress, October 18
	Harvest completed	Change on week	Change on year	Difference from 5-year average
Alabama	20%	+8	-25	-24
Arizona	27%	+5	+1	-1
Arkansas	47%	+17	-16	-19
California	20%	+5	+1	-6
Georgia	19%	+6	-27	-13
Kansas	6%	+4	+3	0
Louisiana	73%	+12	-5	-7
Mississippi	46%	+17	-14	-18
Missouri	25%	+6	-6	-27
North Carolina	14%	+5	-25	-9
Oklahoma	16%	+7	-3	+1
South Carolina	6%	+5	-43	-22
Tennessee	32%	+14	-15	-12
Texas	42%	+7	+11	+13
Virginia	14%	+5	-33	-12
National reading	34%	+8	-4	0

A cut in the Wasde to the forecast for world wheat stocks proves a particular "surprise". But exuberance is capped by downbeat soybean data revisions

Details of key statistics in the USDA’s Wasde report, which sent corn, cotton and wheat prices higher, but undermined soybean futures

Investor survey results ahead of the USDA’s latest benchmark crop report, which is expected to trim forecasts for US corn stocks

Corn, boosted by US export data and Brazil worries, becomes more valuable than hard red winter wheat - which itself puts in a strong shift