The US Department of Agriculture will on Tuesday reveal the May edition of its monthly Wasde report, giving estimates for world ag supply and demand.
This edition is a particularly important one, in giving the USDA’s first full forecasts for 2026-27.
Below expectations of what investors, as polled by Reuters, expect the report to show.
| Market expectations for USDA forecasts for 2026-27 US corn, soybean production |
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| Crop | Mean forecast | Range of forecasts | USDA Outlook Forum | USDA 2025-26 |
| Corn yield | 182.8 | 181.0-183.5 | 183.0 | 186.5 |
| Corn production | 15,926 | 15,793-16,012 | 15,755 | 17,021 |
| Soybean yield | 53.0 | 52.5-53.0 | 53.0 | 53.0 |
| Soybean production | 4,444 | 4,405-4,515 | 4,450 | 4,262 |
| Yield data in bushels per acre. Production data in million bushels | ||||
| Market expectations for USDA estimates of US grain stocks, close of 2026-27 | |||
| Crop | Mean forecast | Range of forecasts | USDA Outlook Forum |
| Corn | 1,904 | 1,510-2,100 | 1,837 |
| Soybeans | 354 | 300-475 | 355 |
| All wheat | 818 | 689-951 | 933 |
| All data in million bushels | |||
| Market expectations for USDA estimates of US grain stocks, close of 2025-26 | |||
| Crop | Mean forecast | Range of forecasts | USDA Outlook Forum |
| Corn | 2,141 | 2,097-2,267 | 2,127 |
| Soybeans | 344 | 285-370 | 350 |
| All wheat | 933 | 912-962 | 938 |
| All data in million bushels | |||
| Market expectations for USDA estimates of world grain stocks, close of 2026-27 | |||
| Crop | Mean forecast | Range of forecasts | USDA’s existing estimate |
| Corn | 289.1 | 268.0-305.0 | N/A |
| Soybeans | 126.5 | 122.1-132.6 | N/A |
| All wheat | 280.5 | 274.3-291.0 | N/A |
| All data in million tonnes | |||
| Market expectations for USDA estimates of world grain stocks, close of 2025-26 | |||
| Crop | Mean forecast | Range of forecasts | USDA’s existing estimate |
| Corn | 296.7 | 293.0-300.4 | 294.8 |
| Soybeans | 125.3 | 123.7-127.0 | 124.8 |
| All wheat | 282.9 | 281.9-284.0 | 283.1 |
| All data in million tonnes | |||
| Market expectations for USDA estimates of US winter wheat harvest, 2026-27 | |||
| Crop | Mean forecast | Range of forecasts | USDA’s 2025-26 estimate |
| Hard red | 638 | 572-800 | 804 |
| Soft red | 336 | 315-362 | 353 |
| White | 233 | 200-250 | 244 |
| Total winter wheat | 1,208 | 1,130-1,400 | 1,402 |
| Spring wheat + durum | |||
| All wheat | 1,746 | 1,616-1,950 | 1,985 |
| All data in million bushels | |||
