USDA Forecasts Record Corn Crop, Larger Soybean Crop for 2025-26

USDA forecasts farmers will produce a record corn crop in 2025-26 at 15.58 billion bushels (bb) while soybean production will also increase slightly to 4.37 bb despite lower planted soybean acres. USDA estimates farmers will plant 94 million acres of corn, up 3.4 million acres from 2024-25, while soybean planted acres are forecast at 84 million, down 3.1 million. USDA released its Grain and Oilseeds Outlook early Thursday, offering USDA’s first estimates of the 2025-26 crop year. USDA releases the forecasts as part of its Agricultural Outlook Forum. CORN USDA pegs production at 15.585 bb, up 718 million bushels (mb), with a yield estimate of 181 bushels per acre (bpa). If the numbers hold, both production and yield would be records. USDA sees total domestic use rising as Feed and Residual use increase 125 mb to 5.9 bb. The forecasts does not see any increase in corn use for ethanol, holding it at 5.5 bb, the same as 2024-25. Total domestic use is pegged at 12.785 bb, up 120 mb from 2024-25. USDA lowered corn export forecasts 50 mb to 2.4 bb. Ending stocks are expected to be higher for the 2025-26 crop, at 1.965 bb, putting the stocks-to-use ratio at 12.9%. Ending stocks for the 2024-25 crop are pegged at 1.54 bb. The average corn price will be lower with higher production with USDA forecasting a $4.20 per bushel price, down 15 cents from the 2024-25 marketing year. SOYBEANS USDA estimates farmers will plant 84 million acres of soybeans, down 3.1 million acres, but yield would rise to 52.5 bpa, up 1.8 bpa. That puts production at 4.37 bb, up 4 mb from 4.366 bb for 2024-25. USDA expects domestic crush to increase 65 mb to 2.475 bb. Total domestic use will increase 61 mb overall to 2.585 bb.