USDA Forecasts Record U.S. Corn Crop, Higher Ending Stocks in January WASDE Report

Market reaction was bearish for corn and soybeans, with analysts noting that abundant supplies amid tepid demand could keep price pressure on agricultural commodities.

WASHINGTON, D.C. (RFD NEWS) — The U.S. Department of Agriculture’s January World Agricultural Supply and Demand Estimate (WASDE) report (Web, PDF Version) projects significantly larger supplies for several key crops in the 2025-26 marketing year, driven by strong production estimates and slower demand growth.

The USDA raised its forecast for U.S. corn production to 17.0 billion bushels, a record total supported by higher yields and increased harvested acreage. With total use rising less than supply, ending stocks climbed to 2.227 billion bushels, above most market expectations.

Soybean output was also adjusted upward slightly, lifting U.S. ending stocks to about 350 million bushels as exports were trimmed.

Market reaction was bearish for corn and soybeans, with analysts noting that abundant supplies amid tepid demand could keep price pressure on agricultural commodities.

For wheat, modest increases in supply and reduced domestic use pushed ending stocks higher as well.

The report’s outlook for rice showed lower U.S. supplies and reduced ending stocks, while global estimates pointed to larger total world inventories of several grains and oilseeds.

Related Stories
Higher menu prices and tax-free tips are reshaping restaurant economics, sharply lifting server take-home pay even as diners face higher out-the-door costs.
USDA’s steady yields and heavy global stocks keep grains range-bound unless demand firms or South American weather becomes a real threat.
As economic pressures continue to squeeze agriculture, ag lenders are signaling a more cautious outlook for farm profitability heading into next year, particularly among grain producers facing lower commodity prices and higher operating costs.
USDA released the November WASDE Report on Friday, the first supply-and-demand estimate to drop since September, just before the 43-day government shutdown.
China’s cost advantage with Brazilian soybeans and vague public messaging leave U.S. export prospects uncertain heading into winter.
AFBF economist Faith Parum breaks down the potential impact of the proposed policy change to allow year-round sales of E15 biofuel.

LATEST STORIES BY THIS AUTHOR:

Winter weather will challenge livestock producers working to rebuild their herds despite harsh conditions.
As we gear up for the big event, Team BUBBA’s Brent Chapman of Kansas joined us on Wednesday’s Market Day Report to talk preparation, teamwork, and the state of competitive bass fishing.
House lawmakers are expected to vote late this afternoon to end the longest government shutdown in U.S. history. The bill they are voting on includes some big priorities for Rural America.
A Reuters report shows China has a soybean “glut,” finding stockpiles at Chinese ports are at record levels, with crushers there holding the most supplies since 2017.
Once a year, Army crew chiefs and Black Hawk mechanics undergo live aerial gunnery training—loading, firing, and practicing the teamwork they’ll need in real missions.
The National Milk Producers Federation (NMPF) says recent wins in markets like Malaysia and Cambodia help farmers focus on production rather than trade barriers.
Agriculture Shows
Hosted by Scott “The Cow Guy” Shellady and RFD News Markets Specialist Tony St. James, Commodity Talk delivers expert insight into the day’s ag commodity markets just before the CME opens. Only on RFD-TV and Rural Radio SiriusXM Channel 147.
A look at the news, weather and commodities headlines that drove agriculture markets in the past week.
Everything profits from prairie. Soil, air, water — and all kinds of life! Learn how you can improve your land with prairie restoration, cover crops and prairie strips, while growing your bottom line.
Special 3-part series tells the story of the Claas family’s legacy, which changed agriculture forever.