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
RaboResearch says China’s pivot from mass production to innovation-driven growth could reshape global pesticide supply chains — and influence prices and product access for U.S. farmers in the coming years.
November 04, 2025 01:20 PM
·
Recent U.S.–China trade developments provided a small lift for soy markets, though most traders are waiting for concrete purchase data before making major moves.
November 04, 2025 12:34 PM
·
According to the new report, seven out of ten rural bankers support President Trump’s recent trade steps with China, expressing cautious optimism about future export potential.
November 03, 2025 01:36 PM
·
The WASDE/Crop Production combo will be the first full read on supply, demand, and yield that could move basis and hedging plans since the government shutdown more than a month ago.
November 03, 2025 09:34 AM
·
A rescheduled WASDE, China’s soybean squeeze, barge bottlenecks, and premium beef demand all collide this week — with cash decisions, basis, and risk plans on the line.
November 03, 2025 09:23 AM
·
High milk production and soft retail demand are squeezing prices and margins — making careful feed and risk management essential through year-end.
November 01, 2025 06:54 AM
·
Market analyst and friend of the show, Shawn Hackett, says Brazil’s shifting use of crops for biofuel production is a significant factor.
October 31, 2025 01:17 PM
·
U.S. Senator Roger Marshall (R-KS) shares his perspective on the U.S.-China trade developments and their potential impact on American producers, farmers, and ranchers.
October 30, 2025 12:56 PM
·
Prepare for softer milk checks into winter, watch cull-cow values and timing, and stress-test cash flow as product prices recalibrate.
October 29, 2025 03:11 PM
·
