NCC Survey

Hank Reichle, a cooperative official from Greenwood, Miss., will serve as president of Cotton Council International (CCI) for 2019. He and other CCI officers were elected at CCI’s board meeting during the National Cotton Council’s (NCC) 2019 Annual Meeting held February 8-10 in San Antonio, Texas. CCI is the NCC’s export promotion arm and carries out programs in more than 50 countries globally under the COTTON USA trademark.

Corn stocks at an elevator location during harvest. ©Debra L Ferguson Stock Images The USDA finally released a set of highly anticipated reports on Friday. The results projected lower ending stocks for corn and soybeans during this marketing year. Despite lower ending stock forecasts, the results disappointed and produced a somewhat bearish outlook. The following discussion recaps developments in corn and soybean crop fundamentals coming out of the reports and price implications moving forward.

The 2019 Market Access Program (MAP) and Foreign Market Development (FMD) allocations were announced late last week and USA Rice received more than $4 million, close to $25,000 more than last year, reflecting an 11 percent increase in FMD and a 7 percent reduction in MAP.