US Ag Market Sees Mixed Reactions to Latest Supply and Demand Reports
The US agricultural market is experiencing mixed reactions to the latest supply and demand reports from the USDA. Corn futures saw modest declines, falling by 2¢ to $4.78 3/4 a bushel for December delivery. Conversely, wheat futures rose overnight, adding 4¢ to $6.56 3/4 a bushel for September delivery on the Chicago Board of Trade.
The USDA's World Agricultural Supply and Demand Estimates (WASDE) report revealed that corn production is estimated at 16.013 billion bushels in the 2026-2027 marketing year, with a yield of 180.7 bushels an acre and harvested area of 88.6 million acres. This represents a slight decrease from last month's forecasts.
In contrast, wheat output in the 2026-2027 marketing year is forecast at 1.531 billion bushels on yield of 47.8 bushels an acre and harvested area of 32.1 million acres, showing no change from the previous month.