USDA Report Looms as Corn and Soybean Prices Fall Ahead of Harvest
Corn and soybean futures fell on September 11 as traders positioned for the USDA's September WASDE report, which could reshape price expectations heading into the 2026 harvest.
The stakes are high for US farmers, with new yield, production, and end stock estimates that could determine whether the recent grain rally has enough fundamental support to continue. Analysts surveyed ahead of the release expect USDA to lower the national corn yield to around 178.2 bushels per acre, compared to August's estimate of 180.7 bpa.
Soybeans entered the report after a sharp rally that pushed November futures above $13 per bushel and to their highest levels in more than two years before Friday's pullback. Analysts expect USDA could trim the national soybean yield to around 52.5 bpa, while 2026/27 ending stocks are expected near 298 million bushels.
The combination of export demand and tighter-than-expected stocks could quickly alter basis levels, futures opportunities, and harvest marketing decisions for farmers, co-ops, and grain merchandisers.