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US S&D Summary 7/10/26
05/12/2026 | 12:45 pm CDT

US S&D Summary 7/10/26

By 
US Supply/Demand Estimates    7/10/26
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 Dat7/10/26    06/117/10/26 7/10/26   06/117/10/26 7/10/26   06/117/10/26
Carryin      1,551   2,145   2,020    325     340     330    855     935     920
Production  17,021  15,995  16,000  4,262   4,435   4,475  1,985   1,543   1,536
Imports         28      25      25     25      25      25    125     140     140
Tot Supply  18,600  18,165  18,045  4,612   4,800   4,830  2,965   2,618   2,596

Feed         6,350   6,100   6,100                           118      80      80
Crush/mill   1,325   1,325   1,325  2,650   2,750   2,750    960     960     960
EthanolPro   5,550   5,600   5,600
Seed/other      30      30      30    112     110     110     58      59      59
Exports      3,325   3,150   3,200  1,520   1,630   1,660    908     775     775
Total Use   16,580  16,205  16,255  4,282   4,490   4,520  2,044   1,874   1,874
Carryout     2,020   1,960   1,790    330     310     310    920     744     722
Stks/UseRa   12.2%   12.1%   11.0%   7.7%    6.9%    6.9%  45.0%   39.7%   38.5%
Avg Price    $4.15   $4.40   $4.40 $10.40  $11.40  $11.40  $5.06   $6.00   $6.00
*Excludes corn for ethanol

In the July WASDE report, USDA estimated 1.79 billion bushels (bb) of U.S. 
ending corn stocks for the new 2026-27 season, slightly lower stocks than 
expected and based on 16 bb of production. U.S. ending corn stocks for 2025-26 
were lowered from 2.145 bb to 2.020 bb, a slightly larger reduction than 
expected.  

USDA estimated 310 million bushels (mb) of U.S. ending soybean stocks for 
2026-27, unchanged from June and based on a record 4.475 bb of production. U.S. 
ending soybean stocks for 2025-26 were reduced to 330 mb from 340 mb, on higher 
exports. 

USDA estimated 722 mb of U.S. ending wheat stocks for 2026-27, slightly larger 
than expected and based on 1.536 bb of production, the lowest since 1970. U.S. 
ending wheat stocks for 2025-26 were lowered from 935 mb to 920 mb, as found in 
the June 30 report.  

Friday’s U.S. ending stocks estimates were slightly bullish for corn, 
slightly bullish for soybeans, and slightly bullish for wheat.