USDA Reports High Crop Supplies and Falling Price Trends

Corn Soybean and Wheat Prices Stay Low Despite Strong Yields

The U.S. Department of Agriculture (USDA) has released its July World Agricultural Supply and Demand Estimates (WASDE) report. Along with the June Acreage Report, it shows steady crop supply levels but continued price pressure for farmers.

Corn:
The USDA lowers corn planted acres slightly to 95.2 million in the June report. Even with the decrease, this is still a record year, up 5% from 2024. July WASDE keeps yield estimates the same and updates production to 15.7 billion bushels. Corn ending stocks are now at 1.66 billion bushels. Despite this, corn prices remain low, with the average price at $4.20 per bushel. Corn exports are also expected to fall, contributing to weaker prices.

Soybeans:
Soybean acres drop a bit to 83.4 million, down 4% from last year. Yield is steady at 52.5 bushels per acre, with total production estimated at 4.34 billion bushels. Ending stocks rise to 310 million bushels. Prices are projected at $10.10 per bushel, slightly down from the previous report. The USDA expects lower exports at 1.745 billion bushels but increases the crush forecast due to growing biofuel demand.

Wheat:
Wheat acres are slightly reduced to 45.4 million. USDA raises yield estimates to 52.6 bushels per acre and forecasts 1.9 billion bushels in production. Ending stocks are now at 890 million bushels. The average price stays at $5.40 per bushel, still below last year’s $5.52.

The July USDA reports reflect steady U.S. crop supplies. However, prices for major crops remain low due to global supply and trade factors. Farmers may need to adjust for continued market pressure.