US farmers to harvest second-largest corn crop ever despite lower yields

Stronger corn exports and a smaller supply to start the season were expected to reduce U.S. stocks at the end of the 2026/27 season to 1.653 billion bushels, from its 1.790-billion-bushel estimate in July. Soybean ending stocks for 2026/27 were seen at 320 million bushels, compared with 310 million previously.

U.S. corn crop conditions assessed by the USDA stabilized last week after three straight weeks of declines caused by stressful Midwest weather. Soybean condition ratings dipped slightly as the crop was entering its key pod-filling stage of development this month.

The latest condition ratings for both crops were the lowest for early August since 2023.

Analysts polled by Reuters, on average, expected the USDA to trim its corn yield view to 182.4 bpa and production to 15.934 billion bushels, along with a 76,000-acre cut to harvested area. For soybeans, the USDA was expected to reduce the average yield to 52.9 bpa and production to 4.472 billion bushels, while harvested area was expected to rise by 163,000 acres.