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USDA - Rise in corn and cotton planting, drop in soybeans

Corn, cotton up, soybeans down; grain stocks high

By Farms.com

The US Department of Agriculture's (USDA) June Planted Acreage and Grain Stocks Report has bearish implications for commodity markets. The report revealed larger-than-anticipated plantings of corn and cotton, raising concerns about potential oversupply.

Analysts like Betty Resnick, an economist with the American Farm Bureau Federation, highlighted significant increases in corn and cotton acreage compared to both the March Prospective Planting Report and trade expectations. Soybean plantings, however, fell short of expectations.

Grain stockpiles for corn, soybeans, and wheat also exceeded forecasts, with all three crops showing a year-over-year increase of over 20%. While recent flooding in the Upper Midwest is expected to impact crop yields, the report predates these events.

Experts anticipate a lower percentage of corn and soybeans being harvested due to the flooding. The full extent of the damage in Minnesota, Iowa, and South Dakota remains unclear.

The USDA's weekly crop progress report will provide updates on current conditions. However, the next major report, the WASDE report, is scheduled for July 12th. This report may offer further insights into potential adjustments due to weather events.


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USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.