USDA Releases May WASDE Report

The March World Agricultural Supply and Demand Estimates Report is calling for a 2025-2026 U.S. corn outlook with record supplies and total use, and higher ending stocks.

The corn crop is projected at 15.8 billion bushels, up six percent from a year ago. With the total U.S. corn supply rising more than use, 2025-2026 ending stocks are up 385 million bushels from last year. The season-average farm price is projected at $4.20 a bushel, down 15 cents.

The 2025-2026 outlook for U.S. soybeans calls for slightly lower supplies, higher crush, reduced exports, and lower ending stocks compared to the prior marketing year. The season-average soybean price is forecasted at $10.25 per bushel, compared with $9.95 per bushel during the previous year.

The wheat outlook is for increased supplies, modestly higher domestic use, reduced exports, and higher stocks. The season-average farm price is $5.30 per bushel, down 20 cents from last year.