U.S. rice ending stocks were up on the month, while cotton held steady.
The USDA projects the domestic rice carryover at 36.1 million hundredweight, an increase of 3 million from February on a reduction in exports due to high prices. If realized, these would be the smallest U.S. rice exports in 37 years. The average farm price is estimated at $19.40 per hundredweight, steady on the month.
Cotton ending stocks held at 4.3 million bales, with no changes to the balance sheet.
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