Challenging Outlook Ahead for U.S. Agriculture as WASDE Predicts Record Corn Crop
Faith Parum
Economist
Chad Smith
Associate News Service Editor, NAFB
With trade uncertainty on the minds of many farmers, the August World Agriculture Supply and Demand Estimates Report threw the corn market a curveball. Chad Smith has more on the big surprise.
Smith: As farmers and ranchers across the country gear up for fall harvest, the August WASDE provided some insight into how production may look. Faith Parum, an economist with the American Farm Bureau Federation, said it looks like a big U.S. corn crop is on the way in 2025.
Parum: The big story is we have a record U.S. corn crop. Yields are up. Acreage is up. Soybeans are holding steady, and wheat exports got a small bump, but really what everyone's talking about is that record corn crop, and it's going to really set the tone as we head into harvest and start making decisions.
Smith: Parum said this report plays into the larger story of global agriculture trade.
Parum: Markets reacted pretty quickly. Corn slipped at the news of large supplies, and we saw a small boost in soybean prices. Traders are really balancing the signals of a big U.S. crop against global demand.
Smith: She said uncertainty remains even as farmers prepare for the harvest season.
Parum: So, our USDA outlook really depends on moving these record corn exports. With harvest just a few weeks away, and starting for some, we already see tight farm margins. So, farmers are really going to need clear information on where exports stand to decide on how they market their crops.
Smith: Learn more on the Market Intel page at fb.org. Chad Smith, Washington.
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