The USDA’s October WASDE report sharply bumped national corn yield by 2.7 bushels per acre to 181.2, surprising traders who expected closer to a 0.7-bushel cut. Corn production rose 234 million bushels to more than 16 billion, putting it 200 million bushels over last year. 2026/2027 U.S. corn ending stocks jumped 282 million bushels to 1.849 billion, higher than expectations but still within range.

Soybean yield saw a small 0.3-bushel bump to 53.1 per acre, raising production to a record-breaking 4.56 billion bushels. Soybean ending stocks rose only 5 million bushels to 315 million bushels.

Wheat U.S. ending stocks climbed 23 million bushels to 740 million, with global end stocks down to 276 million metric tons.

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