The July World Agricultural Supply and Demand Estimates report (WASDE) showed this month’s 2026-27 U.S. corn outlook is for smaller supplies, greater exports and reduced ending stocks. Corn beginning stocks are cut 125 million bushels to 2 billion, reflecting an increase in feed and residual use that is partly offset by a reduction in corn used for ethanol for 2025-26.

The July Feed Outlook report shows the 2026-27 U.S. feed grains production is raised slightly. On June 30, the USDA National Agricultural Statistics Service (NASS) released its annual Acreage report, providing the first revisions to planted acres for feed grains since March.

The June Feed Outlook report shows global coarse grains production is raised for 2025-26 and 2026-27. This month’s outlook is for increased global coarse grains, with marketing year 2025-26 raised 15.5 million metric tons (MT) and 2026-27 raised 5.8 million MT.

The June World Agricultural Supply and Demand Estimates report (WASDE) showed the 2026-27 U.S. corn outlook is virtually unchanged relative to last month. Fractionally higher beginning and ending stocks for 2026-27 reflect mostly offsetting trade and domestic use changes for 2025-26 with adjustments to imports, corn used for ethanol and exports based on data to date.

Dear future self, what are you going to remember about this time in the cattle business?

The May Feed Outlook report shows global coarse grains supply in 2026-27 is projected at 2,156 million metric tons (MT), 15 million MT lower than 2025-26. Spurring the projected supply decrease are expected declines in production, particularly in the U.S. but with notable declines in other major producing countries, including the European Union and Argentina.

The May World Agricultural Supply and Demand Estimates report (WASDE) showed the 2026-27 U.S. corn outlook is for reductions to supply, total use and ending stocks with higher expected prices. The corn crop is projected at 16 billion bushels, down 6% from a year ago on declines to both area and yield.