Wheat

• Wheat has a firmer supply tone right now, all wheat stocks up 8%, acreage up 6%. 
• “Heavy stocks, steady demand, balanced market” 
• Old crop supplies rose 20% to 33.5 million bushels, signaling a noticeably larger carryover in the pipeline. 
• Demand is quietly picking up speed. 
  • March–May disappearance hit 12.3 million bushels (+17%), showing stronger usage helping chew through supplies. 
• Ample supply keeps a lid on rallies, but rising usage is helping support underlying tone. 
• Planted acres are estimated for 2026 at 42.7 million acres, down 6% from 2025. 

Soybeans

• Stocks are only up 5% overall, but on-farm supplies have shrunk 11%, suggesting farmers have been active sellers while commercial inventories continue to build. 
• Acreage up 5% from 2025. 
• Strong crush and export pull. 
• March–May disappearance surged 18% from last year, demonstrating buyers are pulling beans through the pipeline at a much faster pace. 
• Planted acres are estimated 85.4 million acres, up 5% from last year. 

Corn

• Demand is reporting stronger than many expected, corn stocks jumped 14% to 5.29 billion bushels, adding supply pressure. 
• Acreage down 3% from 2025. 
• March–May corn disappearance reaching 3.74 billion bushels, up 7% from last year. 
• Bigger supplies are bearish, but solid demand is helping absorb those bushels. 
• Planted acres are estimated at 95.3 million acres, down 3% from last year.

Read the full June WASDE Report