By Dale Johnson
Corn
This month’s 2025/26 U.S. corn outlook is for increases in supply, exports, and ending stocks. Total supply is 144 million bushels higher as larger beginning stocks are partially offset by lower production. Beginning stocks are 207 million bushels higher based on the September 30 Grain Stocks report. Corn production is forecast at 16.8 billion bushels, down 62 million from September on a 0.7-bushel reduction in yield to 186.0 bushels per acre. Harvested area for grain is unchanged at 90.0 million acres. Total use is up 100 million bushels reflecting a higher export forecast. Exports are raised 100 million bushels to 3.1 billion reflecting shipments to date. Inspection data imply exports set a monthly record during September and again in October. With supply rising more than use, corn ending stocks are up 44 million bushels to 2.154 billion. The season-average corn price received by producers is raised 10 cents to $4.00 per bushel.
Soybeans
Soybean production is forecast at 4.3 billion bushels, down 48 million, on lower yields. The soybean yield is projected down 0.5 bushels to 53.0 bushels per acre. Soybean supplies are projected to be 61 million bushels lower than the September forecast, due to lower beginning stocks from the September 30 Grain Stocks report and reduced production.
Source : umd.edu