View of field of cord seedlings in springIn the latest WADSE report, the USDA predicts a U.S. corn crop of 14.86 billion bushels and a U.S. soybean crop of 4.45 billion bushels. The report estimates corn yield at 181 bushels per acre and soybean yields at 52 bushels per acre. Winter wheat production came in 30 million bushels below expectations.

U.S. Corn and wheat ending stocks were lower than expected, while U.S. soybeans were higher than expected. The USDA forecast 2024/2025 global corn and wheat ending stocks below expectations, while soybean ending stocks were higher than expected.

The 2024/2025 U.S. corn outlook is for larger supplies, greater domestic use and exports, and higher ending stocks. With higher beginning stocks, total corn supplies are forecast at 16.9 billion bushels, the highest since 2017/2018.

Read more from the latest WADSE report here.