Dr. Don Shurley says USDA’s May supply/demand report offers what he considers to be a mixed outlook for the 2022 crop market.
USDA’s WASDE report for May 2022 anticipates a smaller U.S. crop due to increased abandonment, plus lower global estimates for production, supplies, and consumption.
The potential impact of a record drought in the U.S. Southwest on 2022 cotton production is the fuel that keeps the bullish fire burning.