US farmers harvest the second largest corn crop in history despite lower yields
The U.S. Department of Agriculture announced on Wednesday that farmers in the United States will harvest their?second-largest?corn crop ever this fall as adverse weather conditions during summer were more than offset with larger plantings.
USDA forecasts the average U.S. 2026 corn yield to be 180.7 bushels/acre. This is down from the 183 bpa it predicted a few months ago. The agency's outlook for harvested acres increased, however, to 88.6 millions acres. USDA's July forecast for 16 billion bushels was revised up to 16.013 million bushels.
The USDA has lowered its forecast for soybean yields in the United States to 52.7 bpa, down from 53 bpa one month ago. Production was forecast at 4.519 billion bushels, an increase from 4.475 a month ago.
CORN STRESSED BY HEAT AND DRYNESS
Last month, corn yields fell as severe heat and an intensifying drought stressed out pollinating plants in parts of the Western Midwest. Meanwhile, excessive rains further east drowned and washed soil nutrients away.
The U.S.'s weather woes this summer came as wars disrupted the supply chain and increased fuel and fertilizer prices, while heat scorched European crops. Forecasters also warned of a super El Nino that could further cut global food production.
The USDA increased its forecast for harvested corn acres which more than compensated the decline in yields per acre. The U.S. corn crop is expected to be the second largest in history, only behind 2025's 17.021 billion bushels.
Chicago Board of Trade Corn and soybean futures extended their gains after the USDA published its forecast.
The USDA assessed that the corn crop condition in the U.S. stabilized last weekend after three consecutive weeks of declines due to stressful Midwest weather. The USDA's soybean condition ratings dropped slightly this month as the crop entered its "key pod-filling phase of development".
Early August, the latest crop condition ratings were the lowest since 2023.
On average, analysts polled by expected that the USDA would reduce?its corn production view to 15.934 bpa, and?a 76,000 acre reduction to harvested area. The USDA was expected reduce average soybean yields to 52.9 bpa, and production to 4.72 billion bushels. Harvested area was also expected to increase by 163,000 acres.
Corn exports were expected to be stronger and the supply to start the season smaller, reducing U.S. stock at the end 2026/27 to 1.653 bn bushels from the 1.790 bn bushel estimate made in July. Soybean stocks were estimated to be 320 million bushels for 2026/27, down from 310 million.
(source: Reuters)
