USDA forecasts U.S. corn production up and soybean production down from 2024

Forecasts for global soybean supply and demand for 2025/26 are with lower production, exports, and ending stocks.

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Aug. 13, 2025

The Crop Production report issued by USDA’s National Agricultural Statistics Service (NASS) forecasted corn production in the U.S. to increase from 2024 and soybean production down from last year. Corn production is up 13% from last year, forecast at 16.7 billion bushels; soybean growers are expected to decrease their production 2% from 2024, forecast at 4.29 billion bushels.

Average corn yield in the U.S. is forecast at a record high 188.8 bushels per acre, up 9.5 bushels from last year. NASS also forecasts record high yields in Idaho, Illinois, Indiana, Iowa, Minnesota, Missouri, South Carolina, South Dakota, Tennessee, Virginia, and Wisconsin. As of August 3, 73% of this year’s corn crop was reported in good or excellent condition, six percentage points above the same time last year.

U.S. soybean yields are expected to average a record high of 53.6 bushels per acre, up 2.9 bushels from 2024. If realized, the forecasted yields in Arkansas, Delaware, Georgia, Illinois, Indiana, Iowa, Michigan, Minnesota, Mississippi, Missouri, North Carolina, and Virginia will be record highs.

All U.S. wheat production is forecast at 1.93 billion bushels, down 2% from 2024. Growers are expected to produce 1.36 billion bushels of winter wheat this year, up 1% from the previous forecast and up less than 1% from last year. All other spring wheat production is forecast at 484 million bushels, down 11% from last year.

The August World Agricultural Supply and Demand Estimates (WASDE) report forecasts the U.S. season-average soybean price for 2025/26 to remain unchanged at USD 10.10 per bushel. The soybean meal price is forecast at USD 280 per short ton, down 10 dollars. The soybean oil price forecast is unchanged at 53 cents per pound.

The WASDE report also forecasts global soybean supply and demand for 2025/26 with lower production, exports, and ending stocks. Global production for 2025/26 is lowered mainly due to lower production for the United States and Serbia. Exports are reduced for the United States but raised for Argentina and Uruguay. Imports are reduced for the EU, Iran, and Vietnam. Global ending stocks are reduced 1.2 million tons to 124.9 million on lower stocks for Argentina, the EU, Iran, Vietnam, and the United States.