Report Snapshot | Corn, soybean ending stocks below average pre-report estimates

Soybean ending stocks for 2025-26 were unchanged, while corn ending stocks were cut 125 million bu. from November amid an increase in exports.

USDA
USDA
(USDA)

U.S. Carryover
Corn – billion bushels
2024-25
2025-26
USDA
1.532
2.029
Average est.
NA
2.124
USDA Nov.
1.532
2.154
Soybeans – million bushels
2024-25
2025-26
USDA
316
290
Average est.
NA
302
USDA Nov.
316
290
Wheat – million bushels
2024-25
2025-26
USDA
851
901
Average est.
NA
890
USDA Nov.
851
901
Cotton – million bales
2024-25
2025-26
USDA
4.0
4.50
Average est.
NA
4.44
USDA Nov.
4.0
4.30

Global Carryover
Corn – MMT
2024-25
2025-26
USDA
293.37
279.15
Average est.
NA
280.71
USDA Nov.
291.66
281.34
Soybeans – MMT
2024-25
2025-26
USDA
123.24
122.37
Average est.
NA
122.41
USDA Nov.
123.34
121.99
Wheat – MMT
2024-25
2025-26
USDA
260.03
274.87
Average est.
NA
272.78
USDA Nov.
261.44
271.43
Cotton – million bales
2024-25
2025-26
USDA
74.61
75.97
Average est.
NA
76.14
USDA Nov.
74.49
75.93