USDA Lifts World Oilseed Crop Size

WASHINGTON - Feb 11/03 - SNS -- The USDA's world cotton outlook was left virtually unchanged in the latest report from the World Agricultural Outlook Board.

World projections for 2002-03 include slightly higher production and consumption, leaving ending stocks virtually unchanged. Production is raised for China as multiple sources there indicate higher yields than previously anticipated; this increase is partially offset by reductions for Australia and India. Consumption is raised mainly in Pakistan and the United States. World trade is adjusted down marginally.

This month's 2002-03 U.S. projections include higher mill use and lower ending stocks. Domestic mill use is raised 100,000 bales to 7.6 million bales, based on increases in the reported rates for November and December. Exports are unchanged. Ending stocks are reduced to 6.2 million bales.

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