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The June 2026 World Agricultural Supply and Demand Estimates (WASDE) report was released on June 11, 2026. It projected lower U.S. wheat production and ending stocks for the 2026/27 marketing year, while its corn outlook was virtually unchanged from May. These are USDA forecasts, not final production or realized-price figures. Use the corrected June 11 repost when consulting the report: USDA revised a sugar-table delivery figure and updated related text.
What is the June WASDE report?
WASDE is the U.S. Department of Agriculture’s monthly outlook for annual supply and use of major U.S. and world agricultural commodities, including crops as well as U.S. livestock and dairy products. It brings together estimates such as production, imports, exports, domestic use, ending stocks, and, for some U.S. commodities, season-average farm prices. The figures describe USDA’s outlook for a marketing or fiscal year; they are not a record of final outcomes.
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The June 2026 edition was WASDE-672, dated June 11, 2026. USDA reposted a corrected version that day. In the U.S. sugar supply-and-use table, 2025/26 fiscal-year deliveries for human consumption were corrected from 12.259 million short tons, raw value (STRV), to 12.385 million STRV; the sugar discussion and Secretary’s briefing were also revised. Readers quoting the report should use the corrected repost.
What changed in the June 2026 outlook?
Month-to-month comparisons are most useful when the commodity, marketing year, and measure stay the same. For selected U.S. wheat and corn figures, the June report’s changes from May were:
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| Commodity and marketing year | June projection | Change from May |
|---|---|---|
| All-wheat production, 2026/27 | 1,543 million bushels | Down 18 million bushels |
| All-wheat yield, 2026/27 | 47.0 bushels per acre | Down 0.5 bushel per acre |
| Wheat exports, 2026/27 | 775 million bushels | Unchanged |
| Wheat ending stocks, 2026/27 | 744 million bushels | Down 18 million bushels |
| Wheat season-average farm price, 2026/27 | $6.00 per bushel | Down $0.50 per bushel |
| Corn season-average farm price, 2026/27 | $4.40 per bushel | Unchanged |
All figures and month-to-month changes in this table are USDA projections in the corrected June 2026 WASDE, not realized results. They are selected examples rather than a summary of the report’s full coverage.
Wheat: smaller projected supplies and stocks
USDA lowered projected 2026/27 all-wheat production by 18 million bushels from May, to 1,543 million. The report attributed the decline largely to lower Hard Red Winter wheat production; the all-wheat yield forecast fell by half a bushel per acre, to 47.0. Exports remained at 775 million bushels. With lower projected supplies, ending stocks fell 18 million bushels to 744 million, which USDA said was 20 percent below the previous year. The season-average farm price projection declined by 50 cents to $6.00 per bushel.
Corn: outlook virtually unchanged
USDA described the 2026/27 U.S. corn outlook as virtually unchanged from May. Fractionally higher beginning and ending stocks reflected mostly offsetting changes to trade and domestic use in the 2025/26 balance sheet. The projected 2026/27 season-average farm price remained $4.40 per bushel. That is an estimate for the marketing year, not a guaranteed price or a current market quote.
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How should you read WASDE figures?
For a meaningful comparison, keep the reporting period and measure aligned. An ending-stocks estimate for one marketing year is not interchangeable with production, a realized result, or an estimate for a different year. For international figures, also identify the country or region and metric rather than treating global totals and individual-country balances as equivalent.
- Check the marketing or fiscal year. The June wheat and corn figures above refer to 2026/27, while the corrected sugar-table figure concerns fiscal year 2025/26.
- Separate a forecast from an outcome. A season-average farm price projection is not the price a particular farmer will receive, nor a spot-market quote.
- Compare like with like. When checking revisions, use the same commodity, year, and measure in both monthly editions.
- Read beyond headline commodities. WASDE covers additional grains, oilseeds, cotton, sugar, livestock, poultry, eggs, and dairy; the wheat and corn examples do not represent every balance sheet in the report.
How does USDA make its WASDE forecasts?
The World Agricultural Outlook Board coordinates the process and chairs Interagency Commodity Estimates Committees. USDA describes the monthly work as consensus-based and says it takes about two weeks. It combines survey data, economic models, statistical analysis, and expert judgment across participating agencies.
Inputs include producer and industry surveys, market and trade information, foreign reporting, satellite imagery, weather analysis, and program data. USDA’s Economic Research Service describes one part of the process this way: “The monthly projections process combines the following: Data—Results of producer and industry surveys conducted by NASS, AMS, and other agencies.” USDA agencies contributing include the Agricultural Marketing Service (AMS), Economic Research Service (ERS), Foreign Agricultural Service (FAS), and Farm Service Agency (FSA). The National Agricultural Statistics Service (NASS) supplies most U.S. crop production forecasts and livestock production data, but does not participate in the interagency committees.
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When is WASDE released?
USDA publishes WASDE monthly, generally between the 8th and 12th of the month at noon Eastern Time. The June 2026 report’s confirmed release date was June 11. Because WASDE is a recurring forecast, later editions can revise the outlook; the USDA WASDE archive lists the June and subsequent 2026 reports.
Where to get the June report
Use the corrected WASDE-672 report for the full set of tables and commodity discussions. USDA ERS also published a June 2026 Wheat Outlook on June 15, which provides a commodity-specific companion analysis.
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