Commodities
USDA Cuts Yield Forecasts, But Strong Demand Pushes Production Outlooks Higher
The US Department of Agriculture (USDA) released its Crop Production report on August 12, 2026, cutting corn and soybean yield forecasts. The USDA estimated corn yields at 180.7 bushels per acre and soybeans at 52.7 bpa, down from previous forecasts. Corn futures rallied sharply after the report, with December corn rising 12 cents to $4.7250 per bushel.
The strong demand for corn and soybeans is expected to continue into 2027, according to the USDA's Supply and Demand report. The report also showed that US farmers planted more corn and soybeans than estimated in June, pushing production outlooks above trade expectations.