For the U.S. crop, the March 31 Prospective Plantings report is used for planted acreage, and methods used to project harvested acreage and yield are noted in the table on the next page. Thus, next season's stocks are expected to increase about 1 million bales to 2.7 million. Production is projected to increase 5 percent to 89 million bales. However, with consumption expected to rise 2 percent to 86.8 million bales and trade down moderately, ending stocks may increase about 9 percent to 31.1 million. Conversely, the global consumption forecast is revised down slightly to 84.9 million bales as reduced use in China more than offsets larger use in Russia.
World trade is about unchanged.
Ending stocks of 28.6 million bales are 6 percent above the month-earlier projection. Based on export estimate. Totals may not add exactly and trade may not balance due to rounding and other factors. Less than 5,000 bales. Totals may not add exactly and trade may not balance due to rounding and other factors.