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:
October 01, 2025 11:55 AM
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Farmers will need to closely monitor forecasts if the regulatory changes are implemented, as temperature cutoffs will replace fixed spray dates.
September 30, 2025 04:39 PM
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With China’s pullback, U.S. sorghum producers must broaden their export markets. Building connections now could help stabilize prices and demand for the upcoming larger crop.
September 30, 2025 04:23 PM
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Higher domestic rail tariffs and mixed capacity shifts will influence grain movement this harvest. Strong corn exports provide momentum, but logistics costs remain a critical factor.
September 30, 2025 04:12 PM
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Sergio Bortolozzo, President of the Brazilian Rural Society, discusses the importance of global collaboration and innovation in empowering women in the agricultural sector.
September 30, 2025 03:35 PM
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Malone, Senior Director of Trade Execution at Bunge, emphasized the importance of spaces where women can engage in meaningful conversations about global trade, supply chains, and leadership opportunities.
September 30, 2025 03:16 PM
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Chris McGovern from Connected Nation joined us Tuesday to break down the findings and discuss their implications for rural America.
September 30, 2025 01:12 PM
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Gov. Gavin Newsom has until October 12 to sign a bill passed by the California state legislature allowing E15 sales.
September 30, 2025 12:59 PM
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The Final Grain Stocks Report may be the last key figures we see if a government shutdown halts future updates.
September 30, 2025 12:25 PM
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