USDA Lowers Corn Yield, Increases Soybean Yield in Latest Estimates
The US Department of Agriculture (USDA) has released its latest estimates for corn and soybean production, which show a decrease in corn yield and an increase in soybean yield. The national average corn yield is projected at 178.4 bushels per acre, down from August's estimate of 180.7 bpa. Beginning stocks for the 2026-27 crop are listed at 1.922 billion bushels, down 23 million bushels from August.
The demand side also saw some changes, with total feed and residual use lowered to 5.95 billion bushels, down from 6.1 bb in August. Ethanol use is projected at 5.6 bb, while total domestic use comes in at 12.905 bb, down from 13.055 bb last month. Corn exports for the 2026-27 crop are projected at 3.275 billion bushels, unchanged from August.
On the other hand, soybean production saw an increase, with farmers planting 86.9 million acres and harvesting 85.9 million acres. The national average yield increased to 52.8 bushels per acre, up from 52.7 bpa last month. Beginning stocks for the 2026-27 crop are pegged at 325 million bushels, unchanged from August.
The farmgate price for corn is projected at $4.80 a bushel, a 30-cent increase from August, while soybean prices increased to $12 per bushel, up from $11.40 last month.