February 26, 2026

 

More soybeans, less corn expected to be planted in US this year

 

 

US farmers will plant more soybeans and less corn in 2026 than last year, although both harvests were expected to be the second-largest on record, the US Department of Agriculture (USDA) said on February 19.

 

The agency projected corn plantings at 94 million acres this year, down from an 89-year high of 98.8 million acres in 2025. Soybean seedings were expected to rise to 85 million acres, from 81.2 million acres last year.

 

Growers face difficult decisions this year due to a global supply glut, weak crop prices and rising costs for inputs such as seeds and fertiliser. US farm income is projected to drop 0.7% despite near-record government payments, which are expected to account for nearly 29% of producers' revenue.

 

Most US Midwest farmers grow both crops, alternating what is planted on each field every year to preserve soil health. But some acres can break from the traditional rotation if growers see an opportunity to turn a better profit.

 

The USDA's corn acreage forecast, released at the start of its annual Ag Outlook Forum, was below the average estimate of 94.9 million acres in a Reuters analyst poll. Soybean seedings topped the average estimate of 84.9 million acres.

 

Low corn prices and ample supplies following a record US crop in 2025 were expected to discourage growers from expanding plantings this year, although good demand from exporters and ethanol biofuel makers will likely limit a steeper decline, analysts said.

 

Soybean acres, meanwhile, were seen rising despite ongoing trade tensions with top importer China and stiff export competition from top supplier Brazil, where farmers have been harvesting a likely record crop.

 

Rising domestic demand for soybean oil from renewable fuel makers has kept a firm floor under prices.

 

Assuming normal weather, the USDA forecast the 2026 US corn harvest at 15.755 billion bushels and a soybean harvest of 4.450 billion bushels.

 

After demand from exporters, livestock feeders and biofuel makers is met, the US will have 1.837 billion bushels of corn left at the end of the 2026/27 marketing year on August 31, 2027, the USDA projected, down from a seven-year high of 2.127 billion bushels a year earlier.

 

Soybean stocks at the end of the 2026/27 season were projected to rise slightly to 355 million bushels from 350 million bushels at the end of 2025/26.

The USDA forecast 2026/27 corn exports at 3.1 billion bushels, down 200 million bushels from 2025/26 due to rising competition from South American suppliers, while soybean exports were seen rising by 125 million bushels to a two-year high of 1.7 billion bushels.

 

Demand from US soybean processors that crush beans into soymeal for livestock feed and soyoil for food and biofuel was projected at a record 2.655 billion bushels.

 

US wheat stocks were forecast at 933 million bushels by the end of the 2026/27 marketing year, nearly unchanged from a year earlier as lower exports following bumper crops in rival suppliers Argentina and Australia offset a drop in US production.

 

- Reuters