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.

The April Feed Outlook report shows global coarse grains production is raised for 2025-26. The foreign 2025-26 coarse grains supply forecast is raised slightly this month, driven primarily by an increased production forecast, with slight increases to beginning stocks and imports.