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:
Rising demand for Comfort Colors t-shirts reinforces the pull for U.S.-grown cotton, linking rural fiber production to a fast-growing mainstream apparel brand.
October 23, 2025 03:06 PM
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American Farm Bureau Federation (AFBF) economist Bernt Nelson provides an updated outlook on the current U.S. cattle market.
October 23, 2025 02:20 PM
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Sen. Roger Marshall explains which types of beef are imported into the United States, how there’s room for new imports, and logical reasons for current high prices.
October 23, 2025 12:10 PM
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Record Australian exports and rising U.S. imports reflect continued tight domestic cattle supplies — a reminder that herd recovery remains key to balancing future beef prices.
October 23, 2025 11:56 AM
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Australia’s expanding harvest and global oversupply are keeping wheat and barley prices capped, though canola markets may hold firmer on shifting oilseed demand.
October 23, 2025 10:17 AM
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Bioethanol continues to gain ground as the bridge fuel connecting agriculture, aviation, and maritime industries in the global shift toward lower-carbon energy.
October 23, 2025 10:14 AM
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Expanding bioethanol use strengthens rural economies, supports farm markets, and positions U.S. agriculture at the center of global low-carbon trade.
October 23, 2025 10:10 AM
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Elizabeth Strom with the American Society of Farm Managers & Rural Appraisers (ASFMRA) joined us to share the latest on harvest progress and market activity in her area.
October 22, 2025 03:12 PM
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Lyndsey Smith with RealAg Radio discusses how global trade dynamics could shape the future of Canada’s pulse exports.
October 22, 2025 03:08 PM
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