USDA Increases U.S. Ending Stocks for Rice, Steadies Cotton Estimate

|
ByHui Yin

According to the United States Department of Agriculture (USDA), the rice carryout for the current marketing year is seen at 43.5 million hundredweight, up 2 million from March with cuts to domestic and residual use canceling out a rise in export demand. In the export estimate, the USDA raised rough rice while lowering milled rice. Moreover, ending stocks of long-grain and medium and short-grain rice saw increases.

Due to slower domestic demand and lower exports for China, along with a reduction in imports, the world rice ending stocks were higher. The 2023/24 marketing year for rice, as well as cotton, began on August 1, 2023.

On the other hand, the domestic balance sheet for cotton remained steady at 2.5 million bales.

Global cotton ending stocks turned tighter on declines for beginning stocks and production, against higher exports. The 2023/24 U.S. cotton ending stocks are estimated at 2.5 million bales, similar to the 2.5 million in the previous month and 4.25 million last marketing year.

Globally, the 2023/24 rice ending stocks are expected to be 172.15 million tons, compared to 169.7 million last month. Beginning stocks, or 2022/23 ending stocks, were slightly higher, and production was modestly lower. The production changes followed downward adjustments for the European Union, Indonesia, Brazil, and Japan, which canceled out an upward revision for the Philippines. Imports and exports were both slightly higher.

Hui Yin moved from Hong Kong 🇭🇰 to the USA 🇺🇸 when she was just 8 years old. Now in her late 20's she enjoys writing and taking long walks in the park to burn off the copious amounts of rice she eats for dinner.