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As of USDA’s September 11, 2026 World Agricultural Supply and Demand Estimates (WASDE), the projected 2026/27 season-average prices received by U.S. producers are $4.80 per bushel for corn, $12.00 for soybeans and $6.40 for wheat. USDA raised all three projections from August, so the latest outlook does not describe prices as flat month to month. “Stable” refers instead to an older long-term projection that anticipated prices settling after earlier declines.
USDA’s latest farm-price projections
The figures below are projections of the season-average price received by producers for the 2026/27 marketing year in USDA’s September 2026 WASDE. They are not daily market quotations or a guarantee of the cash bid a producer will receive at a particular location.
| Crop | 2026/27 projected season-average farm price | Change from August 2026 | What USDA said about the revision |
|---|---|---|---|
| Corn | $4.80 per bushel | Up $0.30 | USDA projected lower U.S. production and smaller ending stocks than in the previous month’s forecast. |
| Soybeans | $12.00 per bushel | Up $0.60 | USDA raised its export forecast and projected lower ending stocks than in August. |
| Wheat | $6.40 per bushel | Up $0.20 | The projection reflected NASS prices reported to date, expectations for futures and cash prices through the rest of the marketing year, and support from higher U.S. corn prices. |
Source for all figures and revisions: USDA World Agricultural Outlook Board, September 2026 WASDE. These are season-average projections, not local cash bids; local prices can differ.
Why the “stable” description needs a time horizon
The stability framing comes from USDA Economic Research Service (ERS) long-term projections published in 2023, not from the latest monthly forecast. That baseline projected declines through 2026/27 for corn and wheat, and declines in the first half of its projection horizon for soybeans, followed by stabilization later in the outlook through 2032/33.
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| Crop | Price in the older stabilization outlook | Context |
|---|---|---|
| Corn | $4.30 per bushel | 2023 baseline projection, after declines through 2026/27. |
| Soybeans | $10.30 per bushel | 2023 baseline projection, after declines in the first half of the projection horizon. |
| Wheat | $5.70 per bushel | 2023 baseline projection, after declines through 2026/27. |
These are historical baseline projections to 2032/33, not current USDA price forecasts. The newer September 2026 WASDE raised its 2026/27 projections for all three crops compared with August. Source: USDA ERS, Agricultural Baseline Projections.
Wheat’s separate farm-price measure
ERS reported that the U.S. farm-level wheat price in August 2026 was 35.1% higher than in August 2025. Its 2026 forecast called for an 18.3% increase in farm-level wheat prices, with a forecast interval of 11.4% to 26.9%. These are a year-over-year observation and a calendar-year forecast, respectively—not the same measure or period as WASDE’s $6.40-per-bushel 2026/27 season-average projection. Source: USDA ERS, Price Spreads from Farm to Consumer.
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How USDA develops the monthly outlook
The World Agricultural Outlook Board coordinates WASDE and chairs interagency commodity committees. USDA describes a two-week consensus process in which analysts draw on information including producer and industry surveys, market news, trade data, foreign reports, satellite imagery, weather, program data, economic models, statistical analysis and expert judgment. The process description is available from USDA ERS.
ERS also publishes a separate season-average price forecast product. Its model uses futures prices and USDA National Agricultural Statistics Service data, is updated monthly after WASDE, and is explicitly an unofficial model forecast that can supplement—but is not—the official WASDE projection. ERS cautions that futures-based forecasts can be biased in the short term under some market conditions. Details: Season-Average Price Forecasts.
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When to check for an update
WASDE is released monthly. USDA’s schedule lists the September 2026 report for September 11 and the October report for October 9, 2026, at 12:00 p.m. Eastern Time. As of October 8, the September report is the latest available; the October release is scheduled for the following day. Check USDA’s WASDE page for the current report and schedule.
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