Report Snapshot | Winter wheat production drops 25% from 2025

USDA pegged the winter wheat crop at 1.047 billion bu., with new-crop ending stocks at 762 million bu. New-crop soybean and cotton ending stocks were also well below pre-report expectations at 310 million bu. and 3.90 million bales, respectively

USDA
USDA
(USDA)

U.S. Corn, Soybean and Cotton Production
Corn
Production (bil. bu.)
Yield (bu. per acre)
USDA
15.995
183.0
Average est.
15.934
183.0
USDA 2025-26
17.021
186.5
Soybeans
Production (bil. bu.)
Yield (bu. per acre)
USDA
4.435
53.0
Average est.
4.445
53.0
USDA 2025-26
4.262
53.0
Cotton
Production (mil. bales)
Yield (lbs. per acre)
USDA
13.30
866
Average est.
13.76
N/A
USDA 2025-26
13.90
852

U.S. Wheat Production

All wheat – billion bu.
USDA
1.561
Average est.
1.735
USDA 2025
1.985

Winter wheat – billion bu.
USDA
1.047
Average est.
1.199
USDA 2025
1.402

HRW wheat – million bu.
USDA
515
Average est.
629
USDA 2025
804

SRW wheat – million bu.
USDA
301
Average est.
336
USDA 2025
353

White winter wheat – million bu.
USDA
231
Average est.
233
USDA 2025
244


Other spring wheat – million bu.
USDA
484
Average est.
495
USDA July
NA
USDA 2024
504


Durum wheat – million bu.
USDA
87
Average est.
79
USDA July
80
USDA 2024
80

U.S. Carryover
Corn – billion bushels
2025-26
2026-27
USDA
2.142
1.957
Average est.
2.131
1.933
USDA April.
2.127
N/A
Soybeans – million bushels
2025-26
2026-27
USDA
340
310
Average est.
345
364
USDA April.
350
N/A
Wheat – million bushels
2025-26
2026-27
USDA
935
762
Average est.
934
833
USDA April
938
N/A
Cotton – million bales
2025-26
2026-27
USDA
4.40
3.90
Average est.
4.40
4.20
USDA April
4.40
N/A

Global Carryover
Corn – MMT
2025-26
2026-27
USDA
296.95
277.54
Average est.
296.33
289.53
USDA April
294.81
N/A
Soybeans – MMT
2025-26
2026-27
USDA
125.13
124.78
Average est.
125.31
126.29
USDA April
124.79
N/A
Wheat – MMT
2025-26
2026-27
USDA
279.21
275.04
Average est.
282.93
280.84
USDA April
283.12
N/A
Cotton – million bales
2025-26
2026-27
USDA
77.27
71.84
Average est.
N/A
75.63
USDA April
77.04
N/A