Higher than expected corn production numbers were negative for the grain markets today and implied lower demand. According to the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS), old crop corn stocks on hand as of September 1st, 2026, totaled 2.10 billion bushels, up 35% from the same day last year. Allendale commodity broker Greg McBride said this is significantly above what we saw in the September WASDE report a couple weeks ago.
McBride said this indicates that the USDA will likely increase the new crop corn beginning stocks in the October WASDE report.
Old crop soybean stocks were only down 3% from last year at a friendly 315 million bushels. McBride said there was nothing major for the soybean markets in this report, but the negativity in the corn brought the prices lower to end the day.
McBride said he doesn’t anticipate seeing any major adjustments to the new crop soybean beginning stocks in the October WASDE report.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
