COTTON: The 2015/16 U.S. cotton supply and demand projections are unchanged from last month. The 2014/15 U.S. balance sheet is also unchanged, except that the estimated marketing year average price received by producers is raised 0.5 cents to 60.5 cents per pound.
The 2015/16 world cotton supply and demand projections reflect very slight revisions, mainly marginal decreases in beginning and ending stocks. The lower stocks result from changes made in 2014/15, including a combination of lower production in India, which is based on arrivals at gins, and slightly higher India exports. Reduced stocks in India are partially offset by higher estimated stocks in China, owing to a 300,000-bale increase in estimated imports to 8.0 million bales. Minor historical revisions are made to the balance sheets for Zambia andZimbabwe.
Source: USDA WASDE