US Corn Stocks Surge 35% Amid Wheat Production Decline
US corn stockpiles have seen a significant surge of 35% by September 1, 2026, according to data from USDA NASS. This marks a substantial increase in stored supplies, with on-farm stocks rising by 22% and off-farm inventories increasing by a notable 44%. On the other hand, soybean stockpiles have declined by 3% year-on-year.
The situation for wheat was less favorable, with total US wheat production plummeting by 23% to 1.53 billion bushels in 2026. This decline is attributed to a reduction in harvested area of 15% and an average yield decrease of 10%. Winter wheat production suffered the most, experiencing a sharp 27% year-on-year drop.
USDA has also revised its corn and soybean production estimates for 2025 downward following the marketing year's conclusion. These adjustments reflect changes in stock levels and may impact market expectations for these commodities.