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2025-09-13 01:51:51
[USDA: U.S. corn harvest area to reach highest level since 1933 in 2025] (1) The U.S. Department of Agriculture said on Friday that the U.S. corn harvest area in 2025 will reach the highest level since 1933, and the production forecast has been raised to a record 16.814 billion bushels. Although the yield is expected to be 186.7 bushels per acre (down from 188.8 bushels in August), both the production and yield are higher than analysts expected. At the same time, the total soybean production is expected to rise to 4.301 billion bushels due to the increase in harvest area. (2) Due to the increase in corn production, the Chicago Board of Trade corn benchmark price (Cv1) came under pressure. Susan Stroud, founder of NoBullAgriculture, pointed out that the USDA's reduction in corn yield is irrelevant. The key is that the planting area exceeded expectations. (3) The USDA forecasts that U.S. corn stocks at the end of the 2025/26 marketing year will be 2.11 billion bushels, slightly lower than last month's forecast (because record exports will absorb more corn), but the supply outlook remains the highest since the 2018/19 season. At the same time, it raised its soybean ending stocks by 10 million bushels, having previously lowered its soybean export forecast to the lowest level since the U.S.-China trade war during the Trump administration. (4) A large corn harvest will benefit livestock producers and ethanol manufacturers, but grain farmers face low crop prices and rising input costs. U.S. crop cash income is expected to decline for three consecutive years and will fall to the lowest level since 2007 after adjusting for inflation. In addition, due to the renewed U.S.-China trade dispute, U.S. soybean exports to China have been hindered, and China has not yet placed orders for new crops.
