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The Finance Base
Agriculture

What Farmers Need to Know Before the November 2026 WASDE Report

The November 2026 WASDE is scheduled for November 10 at noon Eastern Time. Here is what it covers and how to assess its estimates alongside your farm’s marketing assumptions.

By TheFinanceBase Team 3 min read
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The November 2026 World Agricultural Supply and Demand Estimates (WASDE) report is scheduled for November 10 at 12:00 p.m. Eastern Time. As of October 4, 2026, USDA has not published its November estimates, so there are no report figures or price reactions to evaluate yet. Farmers can prepare by identifying the relevant commodity and marketing year, then comparing the report’s updated supply, use, trade and ending-stock estimates with their own marketing and cash-flow assumptions.

When the November WASDE report comes out

USDA’s current 2026 schedule lists the November WASDE release for November 10 at noon Eastern Time. The agency publishes WASDE monthly; confirm the official schedule again near publication and on release day, since calendars can change.

The November 2026 estimates were not available as of October 4, 2026. Until USDA posts the report, avoid treating a forecast, private expectation or earlier-month estimate as the November result.

What WASDE covers—and what it does not

WASDE is USDA’s supply-and-use forecast. It provides annual U.S. and world estimates for wheat, rice, coarse grains, oilseeds and cotton. USDA’s statistical products guide also describes coverage of soybean products, U.S. sugar and livestock. The geographic scope and detail vary by commodity, so use the current report’s relevant tables rather than assuming each commodity has matching U.S. and world estimates.

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The report is an interagency consensus product, not a farm-specific price target or marketing recommendation. USDA’s outlook-process description says the forecast draws on a two-week process involving survey data, economic models and statistical analysis, and expert judgment. Inputs include NASS surveys, Agricultural Marketing Service market news, trade information, foreign reporting and satellite imagery, recent weather analysis, and Farm Service Agency program information.

How to read the new estimates for your crop

When the report is released, compare the new balance sheet with the previous month’s for the same commodity. Keep geography, marketing year and units consistent. Then identify whether the change comes from supply, use, trade or ending stocks; attribute a reason to USDA only when the report itself provides one.

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  1. Find the right line and period. Confirm whether the figure is U.S. or world, which marketing year it covers, and the units and table notes.
  2. Compare the balance sheet month to month. Check revisions to production and other supply, domestic use, exports or imports, and ending stocks. Separate USDA’s forecast from observed outcomes and private analysts’ expectations.
  3. Look for USDA’s stated explanation. A revision may reflect new survey results, trade information, weather or foreign production information, or expected use. Do not infer a cause that USDA does not give.
  4. Relate the estimate to your farm’s position. Consider your own yield and quality outlook, storage and carrying costs, basis, delivery commitments, sales already made, and cash-flow needs.
  5. Check other relevant USDA data separately. Use the NASS reports calendar for NASS release dates and identify other data that matter to your crop and marketing year.

For a crop such as corn, soybean or wheat, the useful question is not simply whether ending stocks rose or fell. Ask what changed in the full balance sheet, which period and geography the stocks estimate represents, and how that information compares with your own assumptions. Avoid calling stocks “tight” or “ample” without specifying the comparison and the underlying figures.

What the report may mean for farm prices

A WASDE revision can add market context, but a national or world estimate does not translate directly into a local cash-price forecast. Local bids also reflect factors such as basis, delivery location and timing, storage costs and your farm’s obligations. Nor does a single balance-sheet change establish what the market will do: traders may have anticipated the estimate, and other information can matter.

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Use the report as one input to a marketing decision, alongside local cash bids and your farm’s costs and cash-flow requirements. Do not treat USDA’s forecast as an instruction to sell, store or wait.

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Do not confuse November WASDE with other USDA updates

WASDE is distinct from NASS reports, which have their own release calendar. USDA’s Economic Research Service also describes an annual agricultural baseline projection cycle: after the October WASDE, November updates add a projection year for major U.S. field crops and livestock. That baseline is a separate projection product, not the November WASDE report. See ERS’s Agricultural Baseline page for its description.

The USDA WASDE page links to published reports and historical data. Once the November report is available, use the actual report tables for estimates and revisions rather than relying on pre-release expectations.

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