As the globe's top exporter of the soft commodity, the U.S. is seeing more than 130,000 acres flooded in Missouri while larger amounts of land are submerged in Tennessee and Mississippi, according to state officials and farmer groups. Those three states forecast for a combined 1.36 million acres and this year's total production from the U.S. is 12.6 million acres.
"There is some concern over the flooding in the Mississippi Delta," Andy Ryan, a senior risk-management consultant at FCStone Fibers & Textiles in Tennessee. "People are cautiously waiting to see what happens."
At 10:10 a.m. on Wednesday, cotton futures slipped 1.13 percent, a 0.0171 cent drop to $1.4969 per pound.
During the past 12 months, cotton futures have skyrocketed in value, surging 87 percent.
Texas' estimated 6.12 acres makes it the largest grower of the soft commodity. Georgia is second at 1.45 million acres. Mississippi is fifth with 530,000 acres, Tennessee is sixth with 470,000 acres and Missouri places ninth with 360,000 acres.
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