WASHINGTON, D.C. (RFD-TV) — The World Agricultural Supply and Demand Estimate (WASDE) from the U.S. Department of Agriculture (USDA) for December (PDF Version) delivered mostly steady U.S. projections for wheat, corn, soybeans, and cotton while global shifts continue to influence market direction. Wheat saw no domestic supply-or-use changes, though world production climbed on large crops in Canada, Argentina, the European Union, Australia, and Russia — pushing global ending stocks higher.
Corn saw the largest domestic adjustment: exports increased by 125 million bushels after a strong fall in shipping pace, tightening ending stocks to 2.0 billion bushels. Globally, Ukraine’s crop fell sharply due to wet harvest conditions, even as the EU and Russia posted modest increases.
Soybean supply, use, and farm-price projections were unchanged for the U.S., but world output rose slightly on higher production in Russia and India. Global soybean crush expanded, while exports slipped and ending stocks edged higher on larger inventories in Brazil and Russia.
Cotton estimates reflected higher U.S. production, lower mill use, and larger ending stocks, with world production and consumption both easing modestly.
New U.S. fees on Chinese-owned and built ships took effect overnight, marking the latest escalation in maritime trade tensions between Washington and Beijing.
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President Trump is expected to press Argentina to take a tougher stance on China in exchange for political and economic support.
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Treat storage as risk management and logistics, and budget to break even since export growth is unlikely to absorb bigger U.S. corn and soybean crops.
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Better yield measurement means fairer grids, more precise breeding targets, and more dollars for truly efficient cattle.
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Escalating U.S.–China tensions threaten soybean demand as farm finances are stretched further.
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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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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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October 09, 2025 11:36 AM
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