Market Uncertainties Weaken Cotton's Hopes for 2020

摘要

WHEN DR. Jody Campiche stood before delegates to the National Cotton Council's 2020 annual meeting in mid-February to share her economicanalysis, her outlook leaned just a bit to the bearish side. That's not too surprising.At that time, Campi-che, the NCC s Executive Vice President of Economics and Policy Analysis, projectedU.S. planted cotton intentions for 2020 at 13 million acres - down 5.5% from 2019 primarily due to slightly weaker cotton prices relative to corn and soybeans. She provided cautious optimism about an improvement in U.S. cotton economics from the Phase 1trade agreement with China. She noted the potential for strong U.S. export sales to continue, with increased opportunities to China and other markets - even in the face of increasing export competition from Brazil.