Last year I wrote that lower prices reduced stocks, and poor weather contributed to a small U.S. Pima crop. Things have changed drastically this season, and the United States is expected to harvest a record Pima crop of over 700,000 bales — a 63% increase from the previous year. In addition, according to the International Cotton Advisory Committee (ICAC), Egypt also will increase production of its LS and ELS varieties by almost 50%, or from 900,000 bales to 1.3 million bales.
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