What matters in the latest release
The numbers, changes and market implications worth knowing now.USDA raised the 2026 corn-for-grain forecast 1% from September to 16.0 billion bushels, with yield at 181.2 bushels per acre, up 2.4 bushels, although production remains 5% below 2025; if realized, it would be the nation’s second-highest on record, keeping substantial supply in view for commercial users. Soybeans are the stronger production story: output is forecast at a record 4.56 billion bushels, up 1% from the previous forecast and 7% from 2025, on a record yield of 53.1 bushels per acre. Cotton rose 2% from September to 13.4 million 480-pound bales, but remains 3% below last year, while the average yield increased to 790 pounds per harvested acre from 776 previously. Outside the major row crops, canola production is forecast at 5.37 billion pounds versus 4.65 billion in 2025, reflecting 2.97 million harvested acres, while peanut production is projected at 5.11 billion pounds, down from 7.10 billion last year as harvested area falls to 1.358 million acres. Rice production is forecast at 157.7 million hundredweight, versus 206.7 million in 2025. The report was reissued October 23 for corrections to September corn estimates in Kansas, Nebraska, and the United States.