Government raises drought cotton crop estimate to 15.2 million bales
The Agriculture Department increased this year’s drought-stricken cotton crop to 15.2 million bales, up 2 percent from November. The report notes a large acreage gain to 11.64 million acres, with yields at 627 pounds per acre and Upland cotton expected to near 14.8 million bales. Regional breakdown shows Arkansas leading at 1.05 million bales and Texas contributing part of the 347,000 bales Pima crop.
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Pesticide Detections in Ground Water Across 39 States
EPA interim report links 77 pesticides to ground water contamination in 39 states with 46 tied to normal farm use and 32 to point source pollution. Findings caution unverified data and data gaps limit national scope, noting New York leads with 24 pesticides detected.
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Corn futures rebound on Chicago Board of Trade close
Corn futures advanced late in the session on the Chicago Board of Trade as prices held near session highs. Wheat fell on liquidation while deferred wheat rose on dry Great Plains weather concerns. Soybeans weakened with rain in South American growing regions and profit taking in the soy complex. Soybean oil dropped on broader market weakness.
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