Corn inventories rose sharply as wheat production and stocks declined, while soybean supplies also moved lower compared with last year.
U.S. corn inventories increased significantly over the past year, while soybean and wheat supplies declined, according to the latest Grain Stocks report from the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS).
As of September 1, 2026, old-crop corn stocks reached 2.10 billion bushels, representing a 35% increase from the same date in 2025. Farmers held about 787 million bushels of the total, 22% more than a year earlier. Corn stored at off-farm locations totaled 1.31 billion bushels, rising 44% from the previous year.
Corn disappearance from June through August was estimated at 3.20 billion bushels, compared with 3.09 billion bushels during the same three-month period in 2025.
The report also included updated estimates for the previous marketing year. NASS revised 2025 corn production downward by less than 1%, while the estimate for soybean production was reduced slightly.
Soybean inventories were 3% below their September 1, 2025, level. Wheat supplies also declined. Total wheat stocks were estimated at 1.85 billion bushels, down 14% from a year earlier.
On-farm wheat inventories fell 21% to 547 million bushels, while off-farm stocks declined 10% to 1.30 billion bushels.
Wheat disappearance between June and August totaled 608 million bushels, a 14% decline from the comparable period in 2025.
Durum wheat stocks stood at 62.9 million bushels on Sept. 1, down 13% from the previous year. On-farm supplies decreased 15% to 43.8 million bushels, while off-farm inventories fell 6% to 19.1 million bushels. Durum disappearance during the three-month period was 35.4 million bushels, down 15%.
NASS also released its Small Grains Annual Summary. U.S. all-wheat production for 2026 was estimated at 1.53 billion bushels, down 23% from the revised 2025 figure. Harvested area declined 15% to 31.9 million acres, while average yield fell 10% to 48.1 bushels per acre.
Winter wheat production was 1.02 billion bushels, down 27%; other spring wheat totaled 450 million bushels, down 10%; and durum production reached 64.8 million bushels, down 24%.
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