The USDA is projecting higher U.S. cotton and rice ending stocks.
Rice ending stocks for the current marketing year are now seen at 33.1 million hundredweight, 1 million more than in January, with a cut in exports mostly canceling out a lower import guess. The average farm price is estimated at $19.40 per hundredweight, $.20 above a month ago.
Cotton ending stocks are pegged at 4.3 million bales, 100,000 higher than last month because of slower demand by domestic mills.
U.S. cotton, rice stocks up modestly from January
