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U.S. corn, soybean, wheat ending stocks all up on month
The USDA raised carryout projections for corn, soybeans, and wheat.
Corn ending stocks were 282 million bushels above September at 1.849 billion on larger beginning stocks and production, which canceled out increased demand projections. The average estimated 2026/27 farm price is $4.70 per bushels, compared to $4.80 a month ago and $4.16 for 2025/26.
Soybean stocks were up 5 million bushels to 315 million on higher production against larger exports and residual use numbers. The average estimated 2026/27 farm price is $12.00 per bushel, unchanged from last month and above the average of $10.50 for the previous marketing year.
Wheat saw a month to month increase of 23 million bushels to 740 million due to higher production and imports and lower exports. The average estimated 2026/27 farm price is $6.30 per bushel, compared to $6.40 in September and $5.06 for 2025/26.
Globally, corn and soybean adjustments were minor and the USDA did cut wheat exports for Russia, while boosting expectations for Argentina and Canada.
The 2026/27 marketing year got underway June 1st for wheat and September 1st for corn and soybeans.
The USDA’s next round of supply and demand numbers is out November 10th.
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