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Minor Changes in Cotton Situation
WASHINGTON - Apr 10/06 - SNS -- Changes to the world 2005-06 cotton forecasts consist mainly of increases in consumption and trade, according to the latest report from the USDA's World Agricultural Outlook Board.
World production is raised marginally due to increases for Brazil and the United States, which are partially offset by decreases for Argentina and the African Franc Zone.
Consumption is raised in China, Bangladesh, and the United States. An increase of about 1.5% in world imports reflects increases for China and Bangladesh, partially offset by a decrease for India. World ending stocks are reduced marginally.
The 2005-06 U.S. cotton estimates include higher production, domestic mill use, and exports, resulting in marginally lower ending stocks. Production is raised less than 1% to 23.9 million bales based on USDA's March 22 Cotton Ginnings report.
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