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US S&D Summary 4/09/26
04/10/2026 | 7:34 pm CDT

US S&D Summary 4/09/26

By 
US Supply/Demand Estimates    4/09/26
Million Bushels
            --------Corn-------     ------Soybeans-----    -------Wheat------
Crop Year    24-25   25-26   25-26  24-25   25-26   25-26  24-25   25-26   25-26
Report Dat4/09/26    03/104/09/26 4/09/26   03/104/09/26 4/09/26   03/104/09/26
Carryin      1,763   1,551   1,551    342     325     325    696     855     855
Production  14,892  17,021  17,021  4,374   4,262   4,262  1,979   1,985   1,985
Imports         22      25      25     29      25      25    149     120     125
Tot Supply  16,677  18,597  18,597  4,745   4,612   4,612  2,824   2,960   2,965

Feed         5,454   6,200   6,200                           113     100     100
Crush/mill   1,347   1,340   1,340  2,445   2,575   2,610    969     967     967
EthanolPro   5,436   5,600   5,600
Seed/other      30      30      30     93     112     112     61      61      60
Exports      2,858   3,300   3,300  1,882   1,575   1,540    826     900     900
Total Use   15,125  16,470  16,470  4,420   4,262   4,262  1,969   2,028   2,027
Carryout     1,551   2,127   2,127    325     350     350    855     931     938
Stks/UseRa   10.3%   12.9%   12.9%   7.4%    8.2%    8.2%  43.4%   45.9%   46.3%
Avg Price    $4.24   $4.10   $4.15 $10.00  $10.20  $10.30  $5.52   $4.95   $5.00
*Excludes corn for ethanol

In the April WASDE report, USDA estimated 2.127 billion bushels (bb) of U.S. 
ending corn stocks for the 2025-26 season, unchanged from March and within 
pre-report expectations. USDA estimated 16.47 bb of corn demand through the 
marketing year, also unchanged from March. 

USDA estimated 350 million bushels (mb) of U.S. ending soybean stocks for 
2025-26, unchanged from March and within pre-report expectations. USDA held 
their demand estimate for the season steady at 4.262 bb, cutting exports by 35 
mb but offsetting with increased crush.

USDA estimated 938 mb of U.S. ending wheat stocks for 2025-26, up 7 mb from 
March, and towards the upper range of pre-report estimates. USDA increased 
wheat imports and cut seed demand for the marketing year.

Thursday’s U.S. ending stocks estimates were neutral for corn, neutral for 
soybeans, and neutral to slightly bearish for wheat.
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