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2026-02-19 20:18:33
[USDA Outlook Forum: US Corn Planting Area Expected to Decline in 2026, Soybean Planting to Expand] ⑴ The US Department of Agriculture released preliminary forecasts at its annual Outlook Forum on Thursday, projecting that US corn planting area in 2026 will be 94 million acres, a decrease of approximately 4.9% from 98.8 million acres in 2025. Soybean planting area is projected at 85 million acres, higher than 81.2 million acres in 2025. Wheat planting area is projected at 45 million acres, slightly lower than last year's 45.3 million acres. ⑵ In terms of production, the USDA projects corn production for 2026/27 at 15.755 billion bushels, significantly lower than the 17.021 billion bushels in 2025/26; the yield is projected at 183.0 bushels per acre, lower than last year's 186.5 bushels. Soybean production is projected at 4.45 billion bushels, up from 4.262 billion bushels last year; yield is projected to remain unchanged at 53 bushels per acre. Wheat production is projected at 1.86 billion bushels, down from 1.985 billion bushels last year. (3) Ending Stocks Forecast: Corn ending stocks for 2026/27 are projected at 1.837 billion bushels, down from 2.127 billion bushels last year; soybean ending stocks are projected at 355 million bushels, slightly up from 350 million bushels last year; wheat ending stocks are projected at 933 million bushels, roughly unchanged from 931 million bushels last year. (4) Regarding prices, the USDA projects the average price of corn in 2026/27 to be $4.20 per bushel, up from $4.10 in 2025/26; the average price of soybeans to be $10.30, up from $10.20 last year; and the average price of wheat to be $5.00, up from $4.90 last year. Furthermore, the USDA also forecasts that beef exports will decline by 6% and pork production will increase by nearly 3% in 2026.
