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USDA's August 2025 Crop Production and WASDE reports raised 2025/26 U.S. corn production above both its prior estimate and trade expectations. Soybean yield was raised, but harvested area and production were cut from the previous estimate.
Wheat production was lowered, though by less than the trade expected.
A larger-than-expected corn crop and higher ending stocks add bearish pressure on corn prices. Lower soybean production supports soybean meal and soybean prices relative to corn.
agriculture.comCassidy WalterAug 12, 2025After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
