Grain Elevator in distanceReleased on Tuesday, the November USDA WASDE report showed tighter grain supplies and stronger export demand than market analysts anticipated.

Total Farm Marketing senior market advisor Naomi Blohm called the report “friendly for both corn and soybeans” and Jeremy McCann of the Farmer’s Keeper commented that the report was “a huge help to farmers offloading the last of their harvested crop.”

Corn

After a notable yield spike in the October USDA WASDE report, the November 2026 report pulled 2026/2027 U.S. corn yield numbers down to 179.6 bushels per acre (down 1.6 bushels from October). Corn production was also reduced to 15.89 billion bushels (down 141 million bushels from October). Both numbers were just below trade expectations.

Soybeans

The November 2026/2027 U.S. soybean yield saw a small 0.2-bushel bump over last month to 53.3 bushels per acre. After breaking a record in the October report, production was raised yet again to 4.57 billion bushels (4.56 billion in October), though both yield and production were below trade expectations.  

Wheat

2026/2027 wheat production numbers were steady from last month at 1.534 billion bushels.

U.S. ending stocks

2026/2027 U.S. ending stocks for corn and soybeans dropped from the October report, now pegged at 1.758 billion bushels for corn (1.849 billion last month) and 300 million bushels for soybeans (315 million last month). Wheat stocks rose slightly to 743 million bushels (740 million last month).

Read more commentary from Successful Farming and the full USDA WASDE report here.