USDA’s May World Agricultural Supply and Demand Estimates report offered the first official look at the 2026-27 crop year, projecting large corn and soybean supplies while tightening the outlook for wheat production. USDA forecast U.S. corn production at about 16 billion bushels, supported by expanded acreage and trendline yields, while soybean production was projected near 4.44 billion bushels. Analysts said the outlook points to ample supplies if favorable growing conditions continue through the summer. The report reduced the wheat production outlook to roughly 1.56 billion bushels because of drought conditions across parts of the western Plains. Wheat futures climbed following the report as traders reacted to tighter supplies and ongoing weather concerns. USDA’s projections are expected to shape grain marketing and risk-management decisions as farmers continue spring planting across much of the Corn Belt.
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