USDA Report Triggers Mixed Trading in Agricultural Market

The agricultural market experienced mixed trading overnight as investors digested the World Agricultural Supply and Demand Estimates (WASDE) report from the USDA. Corn and soybeans were relatively unchanged, while wheat was mixed.

Corn production for the 2026-2027 marketing year is expected to be 15.8 million metric tons on a yield of 178.5 bushels per acre, down from 16 million metric tons projected by the USDA last month. Soybean production is forecasted at 4.54 billion bushels on a yield of 52.8 bushels per acre.

The WASDE report also showed wheat production in the 2026-2027 season to be 1.53 billion bushels on a yield of 47.8 bushels per acre, unchanged from last month's projection. However, wheat export sales plummeted to a marketing-year low at 194,200 metric tons.

Flood watches have been issued for central Iowa due to expected rainfall and potential flooding in the area. The National Weather Service warned of excessive runoff that may lead to flooding of rivers, creeks, streams, and other low-lying areas.