INFB Chief Economist Shares Results from Long-Awaited Crop Report

Nov 18, 2025

After the longest government shutdown in history, the U.S. Department of Agriculture (USDA) released a long-awaited World Agricultural Supply and Demand Estimates (WASDE) report earlier today.

The November report provides a needed update on the size of the 2025 crops, as well as export projections. Indiana Farm Bureau’s Chief Economist Dr. Todd Davis published his analysis on the data saying, “This has not been a normal marketing year, so these reports have huge impacts on markets and the decisions farmers are making.”

According to Davis, the corn crop nationally is about 12% larger than last year which will end up being a record at 16.75 billion bushels. For Indiana, although the corn yield will be record-setting, the size of the crop is expected to be right on par with September predictions.

“Corn’s problem is that demand is not going to keep pace with supply, but export projections for corn have been a bright star,” said Davis. “The 2025 export estimates will be even larger at 8% over 2024 numbers.”

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Video: Independent Seed, National Impact | On The Brink: Episode 9

A survey of 200 independent seed businesses reveals what Canada's seed sector actually contributes — and what it stands to lose.

On the Brink, Justin Funk, a third-generation agri-marketer, shares the findings of a national survey conducted in early 2026. The numbers reframe the conversation: independent seed companies in Canada represent upwards of $1.7 billion in dedicated seed infrastructure, approximately 3,000 full-time equivalent jobs in rural communities, and an estimated $20 million in annual community contributions. And roughly 90% of Canada's cereals, pulses, and other small pollinated crops flow through them.

The survey also asked how dependent these businesses are on public plant breeding to survive. The answer was unambiguous. For policymakers evaluating the future of publicly funded breeding programs, Funk argues the economic case for this sector and the case for public plant breeding are the same argument.

On the Brink is a cross-country video series exploring the future of plant breeding in Canada. Each episode features voices from across the industry in an open, ongoing conversation about innovation and long-term investment in Canadian agriculture.