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:
Corn and wheat exports continue to outperform last year, while soybeans show steady but subdued movement compared to 2024.
December 09, 2025 12:14 PM
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Tariff relief and new trade agreements may temper food costs by reducing import costs.
December 09, 2025 11:55 AM
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Grain farms still have strong balance sheets, but another stretch of low profits will force hard cost cuts, especially on high-rent, highly leveraged operations.
December 09, 2025 11:41 AM
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Mold damage is tightening China’s corn supplies, supporting higher prices and creating potential demand for alternative feed grains in early 2026.
December 09, 2025 07:00 AM
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Tight Credit, Strong Yields Define Early December Agriculture
December 08, 2025 07:30 PM
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Lewie Pugh with the Owner-Operator Independent Drivers Association (OOIDA) discusses the gap in truck driver education programs and how it impacts road safety and supply chain economics.
December 08, 2025 03:49 PM
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Cattle imports from Mexico remain stalled amid the New World screwworm outbreak. At the same time, Tyson closures add pressure on Nebraska producers and markets ahead of the USDA’s upcoming Cattle on Feed Report.
December 08, 2025 01:55 PM
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Georgia has regained its HPAI-free status after a swift response to October’s detection. Commissioner Tyler Harper urges producers to stay vigilant and maintain biosecurity.
December 08, 2025 01:29 PM
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While this month’s WASDE report will not include updated figures on U.S. crop size, officials say it will offer a clearer picture of crop conditions in the Southern Hemisphere.
December 08, 2025 01:16 PM
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