WASHINGTON, D.C. (RFD NEWS) — The latest World Agricultural Supply and Demand Estimate (WASDE) report from the U.S. Department of Agriculture (USDA) for February (PDF Version) left much of the 2025/26 outlook unchanged but delivered notable adjustments for corn, wheat, and cotton that continue to shape price expectations.
U.S. soybean supply and use forecasts were held steady, with the season-average farm price unchanged at $10.20 per bushel. Soybean meal and oil prices were also unchanged, while global soybean ending stocks increased on larger crops in Brazil and Paraguay.
The USDA also noted China may be considering additional U.S. soybean purchases, which would likely shift export destinations rather than expand global trade.
Corn was the most supportive revision. USDA raised U.S. corn exports by 100 million bushels to 3.3 billion, citing strong sales and inspections, and cut ending stocks to 2.1 billion bushels. The season-average corn price remained at $4.10 per bushel.
U.S. wheat ending stocks increased to 931 million bushels on lower food use, keeping prices at $4.90 per bushel.
Cotton saw slightly weaker demand, with exports trimmed and the projected farm price lowered to 60 cents per pound.
Farm-Level Takeaway: Strong corn exports offer support, while soybeans and wheat remain weighed down by ample global supplies.
Tony St. James, RFD NEWS Markets Specialist
Watch highlights and reactions to the February WASDE Report from today’s Market Day Report:
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Strong export demand supports feed grain prices, but drought risk and seasonal patterns favor disciplined early-year marketing.
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Sen. Deb Fischer reintroduces the HAULS Act to update hours-of-service exemptions and definitions affecting livestock and agricultural haulers. She joins us on Market Day Report to share more about her proposed legislation.
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Corn export strength remains a key demand anchor, while China’s continued involvement in soybeans and sorghum bears close watching for price direction.
January 06, 2026 01:12 PM
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Strong crush demand and rising ethanol production are pressuring feedstocks, as traders monitor storage risks and supply chain uncertainty and await the upcoming January WASDE report.
January 06, 2026 01:04 PM
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The U.S. Meat Export Federation plans to expand its global market presence in the New Year and says it is focusing its appeal on the growing middle class worldwide.
January 06, 2026 12:21 PM
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Preserving equity through active risk management remains critical in a volatile, supply-driven market.
January 06, 2026 06:00 AM
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USDA data indicates that 13.7 percent of U.S. households experienced food insecurity in 2024, the highest rate since 2014, even as most households remained food secure.
January 05, 2026 03:58 PM
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