NASHVILLE, Tenn. (RFD-TV) — USDA’s November WASDE reinforced what many in the trade expected: supplies remain plentiful across the board, keeping grain markets under steady pressure.
According to P.J. Quaid, Senior Vice President for Agriculture Options at R.J. O’Brien, the report delivered “broadly comfortable” ending stocks for the world’s major crops, with global soybean, corn, and wheat inventories all landing on the heavy side. USDA held U.S. yields at robust levels — 186.0 bushels per acre for corn and 53.0 bushels per acre for soybeans — confirming earlier expectations and anchoring another year of strong overall supply.
Domestically, corn ending stocks rose to 2.154 billion bushels, while soybeans ticked up to 290 million and wheat stayed at a burdensome 901 million bushels. USDA did raise corn exports and total use slightly, but not enough to meaningfully trim the carryout. Soybean stocks-to-use slipped to 6.7%, still within a manageable range given global surpluses and steady crush demand. With large world inventories and minimal surprises in U.S. numbers, futures markets responded cautiously.
The overarching message, Quaid notes, is that grain prices will need a demand spark — or a sharp turn in South American weather — to break out of their current neutral-to-slightly-bearish posture.
Farm-Level Takeaway: USDA’s steady yields and heavy global stocks keep grains range-bound unless demand firms or South American weather becomes a real threat.
Tony St. James, RFD-TV Markets Expert
Bankruptcy filings reflect prolonged margin pressure, rising debt, and limited financial flexibility across farm country. Bigger operating loans are helping farms manage costs, but they also signal growing reliance on borrowed capital.
February 10, 2026 01:35 PM
·
USDA’s February WASDE report, analysts expect minimal price movement as grain stocks remain steady. Traders weigh renewed Chinese soybean purchases, South American weather, acreage shifts, and upcoming USMCA trade talks.
February 10, 2026 01:11 PM
·
RFD NEWS Correspondent Frank McCaffrey was in Mission, Texas, where state and federal officials addressed growers and producers at a round table event hosted at a citrus grower’s facility. He shows us how welcome news was all around.
February 10, 2026 12:05 PM
·
A transition from traditional, technology-specific subsidies toward a performance-based, technology-neutral framework
February 10, 2026 08:00 AM
·
Lower freight costs helped sustain export demand amid a challenging pricing environment.
February 10, 2026 06:00 AM
·
Producers across the country spent the week balancing spring planning with tight margins and uneven moisture outlooks. Input purchasing stayed cautious, while marketing and cash-flow decisions remained front and center for many operations.
February 09, 2026 03:17 PM
·
