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Monthly supply & demand balance sheets · July 2026
WASDE is USDA's monthly balance sheet for every major crop - how much was grown, how much is getting used, and what's left over at the end of the year. Carryout is the number the trade prices off, and the revision from last month usually matters more than the level itself.
USDA's July 2026 WASDE projects 2026/27 cotton carryout at 0.00 billion bushels, up 0.4 million bushels from Jun and below the prior year. Production is pegged at 13.7 million 480-lb bales.
| Item | 2024/25 | 2025/26 Est. | 2026/27 Proj.Jun | 2026/27 Proj.Jul |
|---|---|---|---|---|
| Planted(Million Acres) | 11.18 | 9.28 | 9.64 | 9.85 |
| Harvested(Million Acres) | 7.76 | 7.83 | 7.38 | 7.54 |
| Yield per Harvested Acre(Pounds) | 892 | 852 | 866 | 872 |
| Beginning Stocks(Million 480-lb Bales) | 3.15 | 4.00 | 4.20 | 4.20 |
| Production(Million 480-lb Bales) | 14.41 | 13.90 | 13.30 | 13.70 |
| Imports(Million 480-lb Bales) | 0.00 | 0.01 | 0.01 | 0.01 |
| Supply, Total(Million 480-lb Bales) | 17.56 | 17.90 | 17.51 | 17.91 |
| Domestic Use(Million 480-lb Bales) | 1.70 | 1.55 | 1.60 | 1.60 |
| Exports, Total(Million 480-lb Bales) | 11.90 | 12.20 | 12.30 | 12.30 |
| Use, Total(Million 480-lb Bales) | 13.60 | 13.75 | 13.90 | 13.90 |
| Unaccounted(Million 480-lb Bales) | -0.04 | -0.05 | -0.10 | -0.10 |
| Ending Stocks(Million 480-lb Bales) | 4.00 | 4.20 | 3.70 | 4.10 |
| Avg. Farm Price | 63.2 | 62.5▼0.5 | 73.0 | 73.0 |
| Stocks-to-use | 29.4% | 30.5% | 26.6% | 29.5% |
Source: USDA Office of the Chief Economist - WASDE. Updated monthly. ▲▼ marks the change vs the prior report.
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