USDA Trims Corn Yield Forecast for Second Month, Soybeans Hit Record High
The US Department of Agriculture (USDA) has reduced its national corn yield forecast for the second consecutive month in the September World Agricultural Supply and Demand Estimates (WASDE) report. The projected 2026/27 US corn yield now stands at 178.5 bushels per acre, down from August's estimate of 180.7 bushels per acre.
Corn production is forecast to reach 15.8 billion bushels, a decline from the previously estimated 16.013 billion bushels in August. The season average farm price for corn has been raised by 30 cents to $4.80 per bushel.
However, soybeans moved in the opposite direction, with USDA increasing its yield estimate slightly to 52.8 bushels per acre and pushing production to a record 4.535 billion bushels. Despite this higher output, ending stocks were cut to 310 million bushels from 320 million bushels in August, largely due to stronger demand, particularly from China.
The report incorporated the USDA's objective yield survey for the first time in September, where field agents count and measure ears and pods directly rather than relying solely on farmer surveys. The cumulative stress of the season, including nitrogen deficiency in corn and sudden death syndrome showing up in soybeans, was becoming visible in the fields, according to Iowa State University Extension cropping systems specialist Mark Licht.