The July Feed Outlook report shows new data shape expectations for a net decrease for new-crop feed grains production, relative to the prior projections informed by the March-released Prospective Plantings report.

The July World Agricultural Supply and Demand Estimates report (WASDE) showed this month’s 2025-26 U.S. corn outlook is for smaller supplies, domestic use and ending stocks. Corn beginning stocks are cut 25 million bushels to 1.3 billion, reflecting an increase in exports that is partly offset by lower feed and residual use for 2024-25.

Compared to last month, minor adjustments are made to the 2025 and 2026 production forecasts, with no major changes to industry fundamentals. The changes center on updates from current slaughter data, reducing expected cow slaughter, temporal changes to fed cattle marketings and lifting anticipated carcass weights.

The June Feed Outlook report shows corn ending stocks for 2024-25 are lowered as export outlook strengthens. Ahead of the end of June USDA National Agricultural Statistics Service Grain Stocks report and Acreage reports, limited changes to the 2024-25 and 2025-26 balance sheets are described in the mid-June World Agricultural Supply and Demand Estimates (WASDE) report.

The June World Agricultural Supply and Demand Estimates report (WASDE) showed the 2025-26 U.S. corn outlook is little changed from last month, with lower beginning and ending stocks. Corn area and yield forecasts are unchanged. The USDA will release its Acreage report on June 30, which will provide survey-based indications of planted and harvested area.

On May 11, the USDA announced that it will close U.S. ports of entry along the southern border, effective immediately, to imports of live cattle, horses and bison due to the continued and rapid northward spread of New World screwworm (NWS) in Mexico.

The May Feed Outlook report shows record-high 2025-26 U.S. corn supplies support elevated corn exports. U.S. old and new corn crop export forecasts are both raised this month on increased price competitiveness and the slower-than-expected pace of shipments from Argentina and Brazil.

The May World Agricultural Supply and Demand Estimates report (WASDE) showed the 2025-26 U.S. corn outlook is for record supplies and total use, and higher ending stocks. The corn crop is projected at 15.8 billion bushels, up 6% from a year ago on increases to both area and yield.

A temporary reduction in tariffs between the U.S. and China emerged over the weekend, allowing U.S. beef exports to escape the burden of a 125% tariff going into the Chinese mainland.

The Cattle on Feed report released April 17 by the USDA National Agricultural Statistics Service (NASS) showed 11.6 million head of cattle being fed for the slaughter market in the U.S., down 2% from April 2024.