U.S. cotton production rises
U.S. cotton production is forecast to reach 13 million bales, slightly more than a year ago, with farmers in parts of the South expecting record yields.
The U.S. Department of Agriculture reported that in spite of growers planting fewer cotton acres this year, many states are expecting higher production totals than in 2008.
Production in Texas is forecast to reach 5 million bales, up from 4.5 million.
But big declines are forecast in several states, including California and Mississippi, where recent soggy weather has taken a toll on crop conditions.