What matters in the latest release
The numbers, changes and market implications worth knowing now.The October WASDE sharply raises the U.S. corn balance sheet, with 2026/27 yield increased to 181.2 bushels per harvested acre from 178.5, production to 16,034 million bushels from 15,800, and ending stocks to 1,849 million bushels from 1,567 million; domestic use rises to 13,005 million bushels and exports to 3,300 million, yet the average farm price falls to $4.70 per bushel from $4.80. The broader U.S. feed-grain picture is also looser, as production climbs to 418.2 million metric tons from 412.6 and ending stocks to 49.3 million from 42.1, while world coarse-grain stocks increase to 313.31 million metric tons from 305.04. Wheat changes are less bearish but still add supply: the U.S. yield rises to 48.1 bushels per acre from 47.8, production to 1,534 million bushels from 1,531, while exports are cut to 750 million and ending stocks rise to 740 million from 717. Soybean production increases to 4,562 million bushels from 4,535, with exports raised to 1,695 million and stocks to 315 million. Cotton production also rises to 13.44 million bales from 13.20, lifting ending stocks to 3.80 million.