By Jamie Martin
The USDA’s June World Agricultural Supply and Demand Estimates (WASDE) report brought key changes, especially for rice and cotton crops. While corn and soybean forecasts remained steady, sharp adjustments were made to other commodities.
Corn outlook for 2025/26 saw only a minor update with beginning stocks reduced by 50 million bushels due to stronger 2024/25 exports. Ending stocks were lowered to 1.75 billion bushels.
The average price remains at $4.20 per bushel. The soybean forecast showed no changes this month, with ending stocks steady at 295 million bushels and a farm price of $10.25 per bushel.
The biggest change came in the rice sector. USDA significantly cut long-grain rice production by 7.5 million cwt, or 4.5%, due to heavy spring rain in the Delta region. This brought production to 159.7 million cwt.
Imports increased by 1 million cwt, while domestic use dropped by 3 million cwt. As a result, 2025/26 ending stocks declined to 34 million cwt. The season-average farm price was raised by $0.50 to $12.50 per cwt or $5.63 per bushel.
Cotton also faced cuts. USDA reduced harvested acreage by 2% to 8.19 million acres and lowered the average yield to 820 pounds per acre.
The total production forecast dropped by 500,000 bales to 14 million, making it the second smallest crop in a decade. Ending stocks were lowered to 4.3 million bales due to increased 2024/25 exports.
A USDA spokesperson noted, “The excessive spring precipitation in the Delta” influenced the agency’s decision to lower acreage expectations.
The USDA will release its Acreage report on June 30, followed by updates in the July 11 WASDE.
Photo Credit: usda
Categories: National