# USDA's November outlook keeps global grain trade broadly steady but cuts U.S. export expectations

> USDA's November 2026 WASDE projects 2026/27 world grain trade at 524.28 million tonnes, nearly unchanged from October, with coarse-grain trade raised and wheat trade slightly lowered. The U.S. total grain export forecast was cut to 109.40 million tonnes, with U.S. coarse-grain exports down 1.52 million tonnes.

- Date: 2026-11-11 · published 2026-11-12T06:10:33.105Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/95002-usda-s-november-outlook-keeps-global-grain-trade-broadly-steady-but-cuts-u-s
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower U.S. export expectations point to reduced American demand for corn and other coarse grains, which is bearish for US origin prices, while competition from other origins persists for dry-bulk cargo.

## Read by commodity

- CORN: bearish ▼
- WHEAT: neutral
- SORGHUM: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-11-09 | [Key data in USDA's November 9 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/38643-key-data-in-usda-s-november-9-wasde-report-and-difference-from-market.md) | +1.6% | -5.7% |
| CORN | 2018-12-11 | [USDA Raises Corn Inventories Outlook Beyond Expectations](https://feedsoft.ai/events/61507-usda-raises-corn-inventories-outlook-beyond-expectations.md) | +0.4% | +1.2% |
| CORN | 2019-08-29 | [Feed weekly outlook: New-crop expectations weigh on bids - Grainews](https://feedsoft.ai/events/57659-feed-weekly-outlook-new-crop-expectations-weigh-on-bids-grainews.md) | -3.0% | +1.1% |
| CORN | 2022-12-09 | [Key data in USDA's December 9 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/38184-key-data-in-usda-s-december-9-wasde-report-and-difference-from-market.md) | +1.9% | +2.9% |
| CORN | 2022-10-12 | [Key data in USDA's October 12 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/39093-key-data-in-usda-s-october-12-wasde-report-and-difference-from-market.md) | +1.9% | -1.0% |
| WHEAT | 2022-09-12 | [Key data in USDA's September 12 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/39552-key-data-in-usda-s-september-12-wasde-report-and-difference-from-market.md) | -0.5% | +4.9% |
| WHEAT | 2023-11-23 | [Grain Transportation Report, November 23, 2023](https://feedsoft.ai/events/33366-grain-transportation-report-november-23-2023.md) | -0.0% | -1.1% |
| WHEAT | 2019-11-07 | [Grain Transportation Report, November 7, 2019](https://feedsoft.ai/events/55972-grain-transportation-report-november-7-2019.md) | +2.9% | +7.2% |

## Sources

- twsbrasil.com: https://twsbrasil.com/insights/usdas-november-outlook-keeps-global-grain-trade-broadly-steady-but-cuts-us-export-expectations

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.