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:
Rex Gray, Corn Product Manager for Golden Harvest, discusses how the company works side-by-side with farmers to develop strong-performing hybrids built to fit their acres.
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Expect a steady corn grind and selective basis strength where exports and local blending stay active.
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ock NH3 early, track China’s Oct. 15 call and any U.S. Russia-UAN action, stay nimble on urea, and budget cautiously for high-priced phosphate.
October 09, 2025 05:06 PM
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Expect business-as-usual for most container exports.
October 09, 2025 05:04 PM
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CoBank Lead Grains Economist Tanner Ehmke joins us to share insight and concerns over current grain storage capacity as export demand lags.
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As the government shutdown pushes the farm economy closer to the brink, Sens. Grassley and Ernst of Iowa are raising their voices for agriculture.
October 09, 2025 11:50 AM
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October 09, 2025 11:36 AM
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Considering raising your own replacements instead of buying bred heifers? Three key factors to consider before investing capital.
October 08, 2025 03:03 PM
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Reliable, clearly graded middle meats still anchor demand; programs that deliver consistent eating quality and simple, confidence-building menus capture more repeat visits—and more value—back through the beef chain.
October 08, 2025 12:57 PM
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