USDA Cuts Corn Outlook, Boosts Soybean Production
The US Department of Agriculture (USDA) has released its latest update on crop production for 2026, showing a downward revision in corn yield and an upward revision in soybean production.
The USDA now projects a national corn yield of 178.5 bushels per acre, down 2.2 bushels from August's estimate. This reduction puts overall corn production at 15.8 billion bushels, a decline of 213 million bushels. The projected new-crop corn ending stocks have also fallen to 1.56 billion bushels.
In contrast, the USDA has raised its soybean yield estimate slightly to 52.8 bushels per acre, resulting in record-high production of 4.53 billion bushels. However, projected soybean ending stocks have decreased to 310 million bushels. The average farm-price forecast for corn has been increased by 30 cents to $4.80 a bushel, while the soybean price is expected to rise by 60 cents to $12 per bushel.
The USDA's wheat production estimate remains unchanged at 1.53 billion bushels.