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Lower World Cotton Supplies
WASHINGTON - Nov 9/06 - SNS -- The 2006-07 world cotton forecasts show lower beginning stocks, production, trade, and ending stocks compared with last month, according to the latest forecasts from the USDA's World Agricultural Outlook Board.
World production is reduced nearly 500,000 bales to a forecast 115.72 million as reductions for Pakistan, Australia, Greece, Syria, Turkey, and others are partially offset by increases for China, the United States, and Burkina Faso.
World consumption is virtually unchanged. World trade is lowered, as China's imports are reduced based on higher production and weak demand to date. These revisions result in a 2% reduction in world stocks from last month's level to about 51 million bales.
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