>The USDA released its annual planted acres report this morning. The news is generally bearish with acres higher than most of the experts previous estimates. The report doesn’t take into account the horrible conditions in Texas, southern Georgia or southern Alabama. Some rain has fallen in the Southeast but the area will need weeks of near perfect weather to make any semblance of a decent crop.
The report totals about 13.7 Million acres of cotton with 3.14 Million in the Southeast. Texas is shown with 7.1Million acres much of which will likely not see a bale bag this year. Tropical storm
Arlene is currently soaking parts of Mexico and even the growing regions of the Lower Rio Grande Valley. This rain is not expected to recurve up to the areas of Texas that are desperate for water at this point.