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:
Shaun Haney, host of RealAg Radio, provides the latest insight into the timing, expectations, and broader considerations of the potential aid package, despite increasing exports to China.
November 24, 2025 12:42 PM
·
According to November’s Cattle on Feed Report, Nebraska now leads the nation in cattle feeding as tighter supplies continue to reshape regional market power and long-term price dynamics.
November 24, 2025 11:47 AM
·
Higher rail tariffs and tighter Canadian supplies will keep oat transportation costs firm into 2026.
November 24, 2025 11:22 AM
·
Lower U.S. and Mexican production means tighter sugar supplies and greater reliance on imports headed into 2026.
November 22, 2025 11:00 AM
·
The agriculture workforce remains strong and diverse, offering meaningful pathways for students pursuing careers that support the food and farm economy.
November 21, 2025 02:13 PM
·
Mike Steenhoek of the Soy Transportation Coalition discusses industry reactions to the proposed Union Pacific–Norfolk Southern merger, the Surface Transportation Board’s review process, and current conditions on the Mississippi River.
November 21, 2025 01:59 PM
·
Lower tariff rates and new rail-service proposals may improve corn movement efficiency during early-season marketing.
November 21, 2025 12:01 PM
·
Crop producers face tightening credit and lower incomes, while strong cattle markets continue to stabilize finances in livestock-heavy regions.
November 21, 2025 11:58 AM
·
Early Cattle-on-Feed estimates point to slightly tighter cattle supplies, reinforcing the need to monitor prices and timing for winter marketing.
November 21, 2025 10:45 AM
·
