Wheat

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.

Acres effected are up nearly 40% over the past month

Spring wheat acres now at the highest so far in 2026

One private forecaster sees global wheat production lower than USDA

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.

U.S. wheat harvested acres are at a 149-year low as corn and soybeans dominate. Policy shifts, global competition, and profitability gaps are reshaping American agriculture.

Corn acres landed above the average pre-report estimate, though lighter-than-expected June 1 stocks are supportive. Wheat acreage and stocks were mostly short of average pre-report estimates.

The region produced more wheat than anywhere else in the world last crop year

Analysts anticipate little change in U.S. balance sheets.

Corn makes a mild gain while soybeans slip