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:
Smaller flocks and lower lay rates are pressuring table egg supplies, even as hatchery activity edges higher.
September 26, 2025 04:58 PM
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Strong corn exports are anchoring U.S. trade, while soybean sales remain steady, but shipments lag.
September 26, 2025 04:48 PM
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Smaller slaughter numbers across beef and pork signal tighter supplies into late 2025, while record-low veal production highlights ongoing structural changes in the sector.
September 26, 2025 04:35 PM
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China’s buying decisions continue to be a critical factor in shaping cotton prices and export opportunities worldwide.
September 26, 2025 11:55 AM
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Lower inventories and cautious farrowing plans suggest tighter hog supplies into 2026, keeping producer margins sensitive to demand trends and health risks.
September 26, 2025 11:28 AM
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Secretary Rollins’ plan targets high costs, labor challenges, and export growth, delivering relief at home while building markets abroad.
September 26, 2025 10:18 AM
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Transportation challenges are mounting as droughts lower Mississippi River levels and push freight rates higher.
September 25, 2025 04:54 PM
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Waiting could risk leaving next year’s crop unprotected.
September 25, 2025 01:55 PM
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Michigan corn farmer and NCGA Vice President-Elect Matt Frostic will lead the task force. He joined us on Thursday to share his insights on the escalating corn crisis.
September 25, 2025 01:46 PM
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