U.S. Corn and Soybean Stocks Unchanged in Latest USDA WASDE Analysis

Mar 06, 2025

The USDA updated its global supply and demand estimates for 2024/25, with U.S. ending stocks for corn, soybeans, and wheat slightly above or below consensus. Corn stocks are estimated at 1.540B bushels, soybeans at 380MM bushels, and wheat at 794MM bushels. U.S. stocks-to-use ratios for corn, soybeans, and wheat are projected at 10.2%, 8.7%, and 39.6%, respectively. The report is seen as neutral for U.S. farmers, with slightly above-consensus soybean and corn stocks, and slightly below wheat stocks. U.S. farm gate prices are adjusted: $4.35 for corn (up from $4.25), $10.10 for soybeans (down from $10.20), and $5.55 for wheat (unchanged).

Global stocks for major crops are forecast to decrease by 3% YoY. Global stocks-to-use ratios are estimated at 23.5% for corn, 30.4% for soybeans, and 32.0% for wheat. Ukraine’s wheat production is unchanged at 22.9MMT, while its corn production is down 18% to 26.5MMT. Brazil and Argentina’s soybean production is up by 10% and 2%, respectively. Combined global ending stocks for corn, soybeans, and wheat are projected to drop 3% YoY to 672MMT.

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Video: Season 7, Episode 4: Using Data to Better Manage PRRSV

PRRS continues to be one of the biggest challenges facing pork producers, but each outbreak can also provide valuable information about herd recovery, losses and the management decisions that follow.In this episode, Dr. Ana Paula Serafini Poeta Silva, a research scientist at Iowa State University, discusses the PRRS Outbreak Management Program, or POMP, and what researchers have learned from a database containing information from more than 700 breeding-herd outbreaks. She explains how POMP uses data from individual outbreaks to establish benchmarks producers can use to better understand what to expect during recovery, including potential losses and the time it may take for a herd to return to baseline production. The conversation also explores how PRRS management has evolved, including the role of live virus inoculation and modified-live vaccines.