US S&D Summary 05/12
05/12/2026 | 12:45 pm CDT US S&D Summary 05/12
US Supply/Demand Estimates 05/12
Million Bushels
--------Corn------- ------Soybeans----- -------Wheat------
Crop Year 25-26 25-26 26-27 25-26 25-26 26-27 25-26 25-26
26-27
Report Dat 04/09 05/12 05/12 04/09 05/12 05/12 04/09 05/12
05/12
Carryin 1,551 1,551 2,142 325 325 340 855 855
935
Production 17,021 17,021 15,995 4,262 4,262 4,435 1,985 1,985
1,561
Imports 25 25 25 25 25 25 120 125
140
Tot Supply 18,597 18,597 18,162 4,612 4,612 4,800 2,960 2,965
2,636
Feed 6,200 6,200 6,100 100 100
80
Crush/mill 1,340 1,325 1,325 2,575 2,630 2,750 967 960
960
EthanolPro 5,600 5,600 5,600
Seed/other 30 30 30 112 112 110 61 60
59
Exports 3,300 3,300 3,150 1,575 1,530 1,630 900 910
775
Total Use 16,470 16,455 16,205 4,262 4,272 4,490 2,028 2,030
1,874
Carryout 2,127 2,142 1,957 350 340 310 931 935
762
Stks/UseRa 12.9% 13.0% 12.1% 8.2% 8.0% 6.9% 45.9% 46.1%
40.7%
Avg Price 4.10 4.15 4.40 $10.20 $10.40 $11.40 $4.95 $5.00
$6.50
*Excludes corn for ethanol
In the May WASDE report, USDA estimated 1.957 billion bushels (bb) of U.S.
ending corn stocks for the new 2026-27 season, based on a 16 bb corn crop. U.S.
ending corn stocks for 2025-26 were increased from 2.127 bb to 2.142 bb, on
reduced food and seed usage.
USDA estimated 310 million bushels (mb) of U.S. ending soybean stocks for
2026-27, based on a 4.435 bb crop. U.S. ending soybean stocks for 2025-26 were
reduced from 350 mb from 340 mb, on decreased exports but increased crush
usage.
USDA estimated 762 mb of U.S. ending wheat stocks for 2026-27, based on a 1.561
bb crop, the lowest in 54 years if realized. U.S. ending wheat stocks for
2025-26 were lowered from 938 mb to 935 mb, on increased exports but lower
seed, feed, and residual usage.
Tuesday’s U.S. ending stocks estimates were neutral for corn, slightly
bullish for soybeans, and bullish for wheat.