USDA Projects Record Corn Exports, Rising Wheat Prices Amid Global Market Shifts

The USDA has released its August crop production and WASDE reports, offering insights into the 2026-27 corn market. The projected corn exports for the upcoming crop year stand at 3.275 billion bushels (bb), a 75 million bushel increase from July's estimates. Total usage is forecasted at 16.33 bb.

Ending stocks for the 2026-27 crop are projected at 1.653 bb, down from 1.79 bb last month. The farmgate price for the 2026-27 crop is expected to be $4.50 a bushel, up 10 cents from last month's estimate.

Looking at the old-crop corn, ending stocks were lowered from 2.02 billion bushels down to 1.945 bb due mainly to a 75 million-bushel increase in exports. The export total was raised from 3.325 bb to 3.4 bb, a record.

In the soybean market, USDA estimates farmers will grow 4.519 billion bushels of soybeans using a trendline yield estimate of 52.7 bushels per acre (bpa) and planted acres at 86.8 million acres with harvested acres at 85.8 million acres. This would be the largest crop in U.S. history.

The USDA also released its estimates for wheat production, which stands at 1.531 billion bushels compared to 1.536 bb in July's report. Wheat farmgate prices were pegged at $6.20 per bushel, up from $6.00 in July.