USDA Raises Crop Price Expectations Amid Declining Supplies

The U.S. Department of Agriculture (USDA) has revised its supply and demand estimates for the 2026-2027 crop year, bumping up price expectations due to lower projected year-end stocks.

Corn prices are expected to average $4.80 per bushel, a 30-cent increase from previous forecasts. The USDA attributes this rise to declining supplies only partly offset by reduced use. Ending stocks for corn were lowered 86 million bushels to 1.567 billion, reflecting lower exports and increased domestic consumption.

Soybean prices are also expected to increase, with a season-average price forecast of $14 per bushel, up 60 cents from last month's estimate. Soybean production is projected at 4.5 billion bushels, with harvested area and yield contributing to the rise.