USDA’s December World Agricultural Supply and Demand Estimates (WASDE) Report shows this month’s 2025-2026 U.S. corn outlook is for greater exports and lower ending stocks.
Exports for U.S. corn are raised 125 million bushels to 3.2 billion, reflecting shipments to date. With no supply changes and use rising, ending stocks dropped 125 million bushels to two billion. The season-average corn price is unchanged at $4 a bushel.
USDA left U.S. soybean supply, use, and price projections unchanged from the November WASDE report, which predicted soybean yields at 53 bushels per acre with total U.S. production pegged 4.3 billion bushels, resulting in season-average soybean price of $10.50 per bushel.
USDA also left all the supply and use categories for 2025-26 U.S. wheat unchanged, along with the season-average farm price, at $5 per bushel.
CLICK BELOW to hear analysis of USDA’s December WASDE Report from Arlan Suderman, Chief Commodities Economist with StoneX:
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Sources: USDA, NAFB News Service