An overall friendly reports for crops amid shrinking world balance sheets.
Acres saw a minor uptick while analysts expected a modest cut
Cuts to U.S. wheat production failed to offset other changes globally
USDA projects U.S. 2026-27 ending stocks lower for corn, wheat, and soy compared to last year
U.S. wheat ending stocks were raised slightly
Corn acres top expectations, soybeans modestly below.
U.S. corn and soybean ending stocks left unchanged
The change results in a slightly lower carryout compared to previous expectations
Grain stocks also higher than industry expectations
USDA boosted their already forecast record for U.S. corn exports, cutting ending stocks.