USDA Bumps Up Anticipated Corn Prices Amid Record-Breaking Production
The US Department of Agriculture's latest supply and demand estimates report has bumped up anticipated season-average prices for corn, while soybeans remain unchanged.
Corn production is forecast at a record-breaking 16 billion bushels, with a 1.2-million-acre increase in harvested area offset by reduced yield forecasts.
The season's first survey-based corn yield forecast is down 2.3 bushels per acre to 180.7 bushels per acre nationwide average, while beginning stocks were lowered 75 million bushels to 1.9 billion due to increased exports for 2025-2026.
As a result, ending stocks are lowered 137 million bushels to 1.7 billion, with foreign corn production up in major countries like Russia and Ukraine, but down in the European Union due to extreme heat and dryness.