Glacier FarmMedia — Corn ending stocks in the United States for 2025/26 will be tighter than earlier expectations, due to increased exports, according to updated supply/demand tables from the U.S. Department of Agriculture released Dec. 9. U.S. soybean and corn supply/demand estimates were largely unchanged on the month.
Why it matters: The USDA data has a major influence on agricultural futures markets, also influencing Canadian cash prices.
Corn
- Projected U.S. corn ending stocks for 2025/26 were lowered to 2.029 billion bushels, from 2.154 billion in November. That would still be well above the 1.532-billion-bushel corn carryout from 2024/25.
- Anticipated U.S. corn exports were raised by 125 million bushels from November to 3.2 billion bushels.
- U.S. 2025/26 corn production was left unchanged 16.752 billion bushels.
Read Also
Klassen: Feeder market stabilizes on fed market recovery
For the week ending December 6, Western Canadian feeder cattle prices were relatively unchanged compared to seven days earlier. Many…
Soybeans
- U.S. soybean ending stocks for 2025/26 were unchanged at 290 million bushels. Average pre-report expectations had been for a slight increase.
- U.S. soybean exports for 2025/26 were also unchanged at 1.635 billion bushels. That compares with 1.882 billion the previous year.
- Soybean production was unchanged from November at 4.253 billion bushels — a 2.8 per cent decline on the year.
Wheat
- The anticipated U.S. all-wheat carryout for the current marketing year was unchanged from November at 901 million bushels, which would be up by 50 million from 2024/25.
- U.S. farmers grew 1.985 billion bushels of wheat in 2025/26, which was up by 6 million bushels from the previous year.
World stocks
- Global corn ending stocks for 2025/26 were cut by 2.19 million tonnes from November at 279.15 million tonnes.
- World soybean ending stocks were raised to 122.37 million tonnes, from 121.99 million in November.
- The projected world wheat carryout was up by 3.44 million tonnes from November at 274.87 million tonnes.
