Global Markets: Cotton-Supply Drives Record Stocks Outside China

From USDA

USDA’s first forecast for the 2020/21 marketing year shows record global supply driving use higher as countries begin to recover from the COVID-19 pandemic. Global consumption is expected to rebound 11 percent to more than 116 million bales from the largest recorded drop in USDA’s PS&D database; however, use is projected only slightly above the 5-year average.