USDA 2025/26 U.S. Supply/Demand Estimates 'Net Neutral' for U.S. Farmers & Ag OEMs

Feb 27, 2025

USDA introduced its U.S. supply and demand estimates for 2025/26 crops on Feb. 27 during its annual Outlook Forum in Virginia.

Based on these initial estimates, J.P. Morgan's model suggests U.S. major crop cash receipts will total $119.7 billion in 2024/25, which is "flattish" year-over-year, said Tami Zakaria in a note to investors.

Overall, the report shows increases in ending stocks of U.S. wheat and corn and decreases in U.S. soybeans, which Zakaria says "is net neutral for U.S. farmers and for agriculture OEMs. Moreover, stocks-to-use (STU) ratios are seen expanding further for wheat/corn and compressing for soybeans in the U.S."

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Video: Fendt Testimonial | Fendt 726 Vario Gen7 | Peter Watson Jones Ltd.

What happens when a farm buys its first Fendt? For Peter Watson Jones Ltd, the Fendt 726 Vario Gen7 has exceeded expectations from day one. For Jack, Farm Manager at Peter Watson Jones Ltd in North Shropshire, UK, the Fendt 726 Vario Gen7 wasn't just another tractor purchase. It was the farm's first experience with the Fendt brand.

Operating across a 1,200-acre arable farm alongside a 250,000-head broiler enterprise, the business has evolved significantly over the last decade, moving to a straight arable system with fewer staff and machines. Since arriving on the farm, the Fendt 726 Vario has established itself as the main drilling and cultivations tractor, earning its place through performance, versatility and efficiency. Whether it's handling large-scale cultivations or working with a new 4.5m strip-till drill, the tractor continues to impress.

Jack highlights its excellent manoeuvrability, operator comfort and ability to deliver strong pulling power at low engine speeds. The result? Outstanding fuel efficiency without compromising performance. Reliability has also been a key factor, with dependable backup from the team at TR Machinery helping to keep the tractor working when it matters most.

?? Watch as Jack shares why the Fendt 726 Vario Gen7, the farm's first Fendt, has made such a strong impression and become an integral part of their operation.