Chicago wheat farmers are turning to cotton in response to relatively high cotton prices, the ability of the crop to weather dry conditions, and amid stiff competition from Russian wheat growers. Estimates suggest 13.5 million cotton acres will be planted this year, a 20% increase on 2017, and the most since cotton prices slumped three years ago. The switch is also set to benefit seed companies Monsanto and DowDuPont, as well as equipment manufacturer Deere, as demand for cotton harvesters goes "off the charts".
US wheat farmers are turning to cotton in response to relatively high cotton prices, the ability of the crop to weather dry conditions, and amid stiff competition from Russian wheat growers. Estimates suggest 13.5 million cotton acres will be planted this year, a 20% increase on 2017, and the most since cotton prices slumped three years ago. The switch is also set to benefit seed companies Monsanto and DowDuPont, as well as equipment manufacturer Deere, as demand for cotton harvesters goes "off the charts".