WASHINGTON, D.C. (RFD NEWS) — Export demand continues to support grain markets as weekly inspections stayed large for corn and soybeans while wheat slowed, according to USDA Market News data for the week ending February 12 (PDF Version). Shipments moved primarily through Gulf and Pacific Northwest ports, with China, Mexico, Japan, Egypt, and Southeast Asia remaining major buyers.
However, market analysts say that while corn exports remain strong, farmers preparing for spring planting face another year of tight margins as large carryover stocks are expected to outweigh solid production potential, according to a 2026/27 outlook from Terrain economists.
Corn
Corn inspections reached about 58.8 million bushels, down from 63.4 million the prior week but still strong seasonally. Marketing-year-to-date shipments total roughly 1.41 billion bushels, well ahead of last year’s 974 million.
Corn acreage is projected at nearly 94 million acres, with trend yields pushing production above 15.8 billion bushels. Combined with more than 2.15 billion bushels of beginning stocks, total supplies could exceed 18 billion bushels, keeping average prices near $4.33 per bushel despite steady feed and ethanol demand.
Soybeans
Soybean inspections totaled roughly 44.2 million bushels, up from 42.1 million the previous week. Even so, cumulative shipments of nearly 894 million bushels remain behind last year’s 1.32 billion bushels.
Soybean acres are forecast to rebound to 85 million, lifting production near 4.46 billion bushels. Even with stronger exports — including assumed Chinese purchases — ending stocks near 370 million bushels could hold prices around $10.31 per bushel.
Wheat
Wheat inspections measured about 13.8 million bushels, falling from 21.3 million the prior week but lifting the season total to 651 million bushels, ahead of 547 million last year.
Wheat acreage is expected to remain historically low, but large global inventories keep supplies comfortable. Prices may improve modestly to about $5.46 per bushel as markets rebalance rather than tighten.
Sorghum
Sorghum loadings climbed to 9.5 million bushels, with year-to-date exports near 68 million bushels.
Sorghum faces the heaviest pressure as large beginning stocks outweigh lower production, leaving prices near $3.69 per bushel unless Chinese demand strengthens.
