USDA Lowers Corn Production Estimates, Raises Soybean Projections Amid Weather Disruptions
The US Department of Agriculture (USDA) released its updated estimates for corn and soybean production in 2026, reflecting changes in yield due to hot and dry weather conditions.
According to the USDA's data, the projected corn production has been revised downward to 15.8 billion bushels as of September 1st, a decrease of 7% from the previous year's production. This is still considered the second-largest corn crop on record if realized. The yield estimate was trimmed by 2.2 bushels to 178.5 bushels per acre, with minor adjustments made to planted and harvested areas.
The soybean production, however, has been revised upward to 4.535 billion bushels, potentially reaching an all-time high. This is a 6% increase from last year's production. The average yield for soybeans is projected at 52.8 bushels per acre, with modest increases made to planted and harvested areas.
The lower corn production projection has led to tighter new crop ending stocks, while soybean ending stocks decreased due to demand. Market reactions were immediate, with corn futures turning higher after the release of the report, but soybeans remaining in negative territory.