The Farm Bill and congressional ad hoc spending take care of farmers and ranchers during difficult times.
However, things change when a crop cannot be harvested. That is especially true in the cotton industry, where there’s no safety net for gins, warehouses, and others who process raw cotton.
Texas is working to change that.
Tony St. James has the story.
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China purchased roughly 53 million bushels of new-crop soybeans as U.S. corn demand also remained solid.
Stronger textile demand and tighter global supplies could provide additional support for cotton prices.
USDA lowered ending stocks for corn, wheat and cotton while raising price projections.
USDA reports a sharp decline in premium cotton use as domestic mills continue relying heavily on synthetic fiber.
