USDA released its July 2026 World Agricultural Supply and Demand Estimates (WASDE) report on July 10 at noon Eastern, alongside the July Crop Production report. The July estimates are now historical: as of October 8, USDA’s calendar listed the next WASDE for October 9 at noon Eastern. For farmers reviewing the July edition, the key signal was a slightly tighter projected U.S. corn balance than in June—not a guarantee about local cash prices.
What is the WASDE report?
USDA’s World Agricultural Supply and Demand Estimates (WASDE) is a monthly forecast prepared by the World Agricultural Outlook Board. It provides annual supply-and-use projections for U.S. and world wheat, rice, coarse grains, oilseeds, and cotton. It also covers U.S. sugar, meat, poultry, eggs, and milk, plus Mexico’s sugar balance. USDA’s WASDE page provides report access and background.
USDA’s Economic Research Service describes the forecast process as drawing on producer and industry surveys, models, statistical analysis, and expert judgment. The Outlook Board coordinates a two-week, consensus-based interagency process involving agencies such as AMS, ERS, FAS, and FSA. NASS supplies much of the U.S. crop production forecast data but does not participate in those interagency committees. USDA describes WASDE forecasts as marketplace benchmarks that can inform decisions by farmers, ranchers, businesses, and governments. USDA ERS: Commodity Outlook
When was the July 2026 WASDE released?
The July 2026 report came out July 10 at noon Eastern Time, on the same day as NASS’s July Crop Production report. That companion report matters as context because NASS supplies much of the U.S. crop production forecast data used in WASDE. USDA’s WASDE release calendar and archive
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Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →As of October 8, 2026, USDA listed the next WASDE for October 9 at noon Eastern. That schedule is time-sensitive; check the USDA calendar for the current release date if you are reading this later. USDA WASDE calendar
How to read a WASDE balance sheet
Start with a single commodity, geography, and marketing year. A balance sheet links the amount available to the amount expected to be used:
- Supply: beginning stocks, production, and imports.
- Use: domestic use and exports.
- Ending stocks: the projected amount remaining after use, given the forecast assumptions.
Read the lines together. For example, higher projected exports can reduce ending stocks even if production barely changes. WASDE also publishes season-average farm-price projections for most commodities; these are marketing-year estimates, not a quote for a particular farm.
What changed in the July 2026 estimates?
The values below are USDA World Agricultural Outlook Board projections for the 2026/27 marketing year in the July 2026 edition. They are not necessarily the latest estimates as of October.
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1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errors| Measure | July 2026 projection | Comparison or context |
|---|---|---|
| U.S. corn production | 16.000 billion bushels | 15.995 billion bushels in June |
| U.S. corn exports | 3.200 billion bushels | 3.150 billion bushels in June |
| U.S. corn ending stocks | 1.790 billion bushels | 1.960 billion bushels in June |
| U.S. corn season-average farm price | $4.40 per bushel | July projection |
| U.S. wheat production | 1.536 billion bushels | July projection |
| U.S. wheat ending stocks | 722 million bushels | July projection |
| U.S. wheat season-average farm price | $6.00 per bushel | July projection |
| World total-grain ending stocks | 771.62 million metric tons | 780.59 million metric tons in June |
For corn, the July table paired nearly unchanged production with higher exports and lower projected ending stocks than June. That is a tighter projected balance, all else equal. It is a change in the forecast—not a prediction of the cash price or basis available to an individual operation.
The July wheat table showed 1.536 billion bushels of projected U.S. production and 722 million bushels of ending stocks. Interpret those figures alongside the balance-sheet assumptions for supply and use; a stocks figure alone does not describe a farm’s marketing outcome. The world total-grain stocks projection also fell from June, offering broader context rather than a direct price forecast for a particular crop or location.
How farmers can use the report
- Choose the relevant table. Confirm the commodity, geography, and marketing year before comparing any figures.
- Compare editions line by line. Put July beside June and identify whether production, imports, domestic use, exports, or ending stocks changed. A headline number alone may not show what drove the revision.
- Check the world balance sheet too. WASDE publishes U.S. and world estimates; foreign stocks, import demand, and export competition help frame the market context for U.S. production.
- Keep the price estimate in perspective. USDA’s season-average farm-price projection is not a local cash bid or an individualized marketing recommendation. The report does not account for a specific farm’s basis, storage costs, delivery terms, or risk tolerance.
- Update your view as estimates change. Later WASDE releases and other USDA data can incorporate new information, so a July projection should not be treated as a current forecast indefinitely.
Can WASDE affect grain prices?
WASDE can influence market expectations because its supply-and-use forecasts are widely used as benchmarks. A change in expected production, exports, use, or ending stocks may affect how market participants assess supply and demand. But WASDE does not set an individual farm’s local cash price: local bids also depend on factors the report does not specify for a given operation, including basis, delivery terms, and storage costs. USDA ERS: Commodity Outlook
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Where to find the July report
USDA’s WASDE archive provides the July report in PDF, text, spreadsheet, and XML formats. Use the format that suits the task: the PDF is convenient for reading, while spreadsheet or XML data can help with extracting and comparing table values. USDA WASDE reports and archive
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