On Wednesday, January 12th, the USDA released an updated World Agricultural Supply and Demand Estimate (WASDE) report. The latest report included some adjustments in supply largely due to weather conditions affecting production in South America.
More below:
https://www.usda.gov/oce/commodity/wasde/wasde0122.pdf
https://www.usda.gov/sites/default/files/documents/january-2022-wasde-lockup-briefing.pdf
https://www.usda.gov/sites/default/files/documents/wwcb.pdf
Additional analysis:
https://www.dtnpf.com/agriculture/web/ag/news/article/2022/01/12/usda-releases-january-wasde-dec-1
WASDE Cotton: Lower U.S. Production Offsets Lower Exports
WASDE Oilseeds: Increased U.S. Production, Ending Stocks
WASDE Rice: Lower Domestic Use, Decreased Exports, Reduced Ending Stocks