While corn saw a big boost in this month’s WASDE report, soybeans are looking at the lowest acres in several years.
Market analyst Brian Hoops explains why.
“On the flip side, because we planted more corn acres, you had less soybean acres planted; the smallest soybean acres since 2019. Even though you had a new record yield for soybeans, the smaller harvested acres took away over 150 million bushels of supply, a pretty sizable amount, and we pushed sharply higher. Now the question is, where do we go from here?”
A social media post this week by President Trump sent waves through the soybean market. He urged China to return to the buying table, but it is a move many analysts feel is unlikely to happen.
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The USDA Agricultural Outlook Forum highlights modest price support from tighter supplies across cotton, grains, dairy, livestock, and sugar into 2026.
Strong corn exports support prices while soybeans lag yearly pace. However, large carryover stocks limit upside despite solid yields.
Large carry-in stocks across major crops could limit price recovery in 2026/27 unless demand strengthens or weather-related supply reductions occur.
Rising Chinese feed output — especially for swine — signals sustained demand for protein meals and feed inputs, even when meat production growth appears modest.
Corn demand remains supportive, but weaker soybean buying limits overall export momentum.
