All-cotton plantings topped expectations, rising 17% from last year. Upland planted area estimated at 9.824 million acres, up from 8.422 million acres last year, and Pima area at 199,000 acres, up 26% from 2015.

Cotton futures reversed off an overnight seven-session high in December to finish on a triple-digit loss Thursday after U.S. plantings came in above the top end of the range of pre-report estimates.

December closed down 168 points to 64.17 cents, its lowest finish since June 15 and just off the low of its 227-point range from up 57 points at 66.42 to down 170 points at 64.15 cents. It still gained 62 points or about 1% for the month and 640 points or 11.1% for the quarter.

Volume increased to an electronically estimated 30,400 lots from 17,841 lots the previous session when spreads accounted for 3,658 lots or 21% and EFS 580 lots.

All-cotton planted area is estimated at 10.023 million acres, up 16.8% from 8.581 million acres seeded last year, USDAΆs National Agricultural Statistics Service reported.

This is up from average pre-report estimates of 9.541 million acres and the top end of the range at 9.75 million acres. The March intentions were 9.562 million acres.

The upland area is estimated at 9.824 million acres, up 16.6% from 8.422 million planted last year, and the Pima or extra-long staple area at 199,000 acres, up 25.6% from 158,500 acres in 2015.

Upland plantings rose from last year in all major producing regions, up 1.6% to 2.27 million acres in the Southeast; 54.3% to 1.52 million acres in the Mid-South; 15.9% to 5.829 million acres in the Southwest; and 19.9% to 205,000 acres in the West.

Heavy rains and severe weather delayed plantings in Texas, USDA said. Many fields needed replanting following hail damage or flooding, but most producers managed to get the crop planted within the normal window.

Growers in Texas, the top cotton-producing state, planted 5.5 million acres of upland, up 200,000 acres or 3.8% from the March intentions and 700,000 acres or 14.6% from last year.

Cotton plantings declined from 2015 in North Carolina, South Carolina and Virginia. Low yields or complete losses resulting from last yearΆs flooding moved farmers to plant other crops this year.

Also, weather conditions in those three states havenΆt been ideal, USDA said, with reports of poor germination, extended wet soil conditions, ponding and cool nighttime temperatures.

Producers planted 93% of their acreage with seed varieties developed using biotechnology, down a percentage point from last year. Varieties containing bacillus thuringiensis (Bt) were planted on 4% of the acreage, also down a point from last year.

Growers planted herbicide resistant varieties on 9% of the acreage, down a point from 2015, and seeded stacked gene cottons containing both insect and herbicide resistance on 80%, up a percentage point.

Changes between the June estimates and the final planted acreages of upland during the last 20 years have averaged 306,000 acres, ranging from only 3,000 acres to 992,000 acres. The June estimates have been below the final acreage 10 times and above 10 times.

Futures open interest grew 2,227 lots Wednesday to 186,484, with DecemberΆs up 1,673 lots to 153,204 and MarchΆs up 178 lots to 21,278. Stocks in deliverable position were unchanged at 135,163 bales.