USDA Revises Corn and Soybean Estimates in Latest Crop Production Report
The US Department of Agriculture (USDA) released its monthly crop production report, which included revisions to corn and soybean estimates. According to the report, corn production is expected to be 15.800 billion bushels, a decrease from last month's estimate of 16.012 billion bushels. Soybean production, on the other hand, was increased by 16 million bushels to 4.535 billion bushels.
The USDA also reported that corn yields were decreased by 2.2 bushels per acre to 178.5 bushels per acre, while soybean yields were increased by 0.1 bushel per acre to 52.8 bushels per acre. Harvested acres for corn were reduced by 86,000 acres to 88.506 million acres.
The report also included revisions to old-crop and new-crop carryover estimates for corn and soybeans. Old-crop corn carryover was decreased by 23 million bushels, while new-crop corn carryover was cut by 86 million bushels. New-crop soybean carryover was reduced by 10 million bushels.
On the global front, corn carryover for 2025-26 is estimated at 301.38 million metric tons, up from 298.83 million metric tons in August. Soybean carryover for 2025-26 is expected to be 125.27 million metric tons, an increase from 125.12 million metric tons in August.