Report Snapshot | USDA trims corn ending stocks, yields muted response

Minimal changes were made to wheat production. However, old- and new-crop corn and cotton ending stocks were trimmed from May.

USDA
USDA Crop Production and Supply & Demand Reports
(USDA )

U.S. Winter Wheat Production
All wheat – billion bu.
USDA
1.921
Average est.
1.924
USDA May
1.921
USDA 2024
1.971
Winter wheat – billion bu.
USDA
1.382
Average est.
1.388
USDA May
1.382
USDA 2024
1.349
HRW wheat – million bu.
USDA
782
Average est.
788
USDA May
784
USDA 2024
770
SRW wheat – million bu.
USDA
345
Average est.
346
USDA May
345
USDA 2024
342
White winter wheat – million bu.
USDA
254
Average est.
253
USDA May
253
USDA 2024
236

U.S. Carryover
Corn – billion bushels
2024-25
2025-26
USDA
1.365
1.750
Average est.
1.392
1.792
USDA May
1.415
1.800
Soybeans – million bushels
2024-25
2025-26
USDA
350
295
Average est.
351
298
USDA May
350
295
Wheat – million bushels
2024-25
2025-26
USDA
841
898
Average est.
842
924
USDA May
841
923
Cotton – million bales
2024-25
2025-26
USDA
4.40
4.30
Average est.
NA
5.02
USDA May
4.80
5.20

Global Carryover
Corn – MMT
2024-25
2025-26
USDA
285.04
275.24
Average est.
NA
278.80
USDA May
287.29
277.84
Soybeans – MMT
2024-25
2025-26
USDA
124.20
125.30
Average est.
NA
124.54
USDA May
123.18
124.33
Wheat – MMT
2024-25
2025-26
USDA
263.98
262.76
Average est.
NA
265.06
USDA May
265.21
265.73
Cotton – million bales
2024-25
2025-26
USDA
77.29
76.80
Average est.
NA
77.88
USDA May
78.40
78.38