Cotton

USDA’s corn yield and ending stocks pegs landed below the average pre-report estimate, with harvested corn acres up by 1.2 million. Soybean production was slightly higher than expected despite a 0.3 bu. cut to yield due to a 1.4-million-acre-increase in harvested acres.

Tighter global stocks, new trade deals, and a higher MAL base rate alter the downside risk setup as the new marketing year opens.

USDA pegged new crop corn ending stocks at 1.790 billion bu., well below the average pre-report estimate of 1.873 billion bu. World ending stocks for corn, soybeans and wheat also landed below expectations.

Corn and soybeans set for largest percentage of cropland in the region on record

USDA’s Great American Cotton Plan aims to boost demand for U.S. cotton through domestic manufacturing incentives, traceable supply chains and the Buying American Cotton Act.

USDA’s March 2026 Prospective Plantings report produced no major surprises, but the bigger story may be the fact only 37.6% of farmers responded, the lowest participation in history for that survey.

Corn falls to 95.3M acres (-3%) while soybeans rise to 84.7M (+4%). Wheat hits a record low 43.8M acres (-3%) and cotton climbs to 9.64M (+4%).

Cotton futures hit contract highs as short covering lifted prices, but weak demand and rising costs are keeping profitability out of reach. Texas Tech’s Darren Hudson breaks down what it means for growers heading into 2026.

Trump postpones his China summit, citing ongoing Middle East tensions and the need to remain in Washington, while officials say China is supportive of rescheduling the meeting.

USDA’s chief economist says 2026 brings moderating costs, slightly higher crop prices and shifting acreage, but he warns biofuels policy and global competition remain key wild cards for farm income.