U.S. soybean export forecast rises as projected stocks fall
USDA’s November outlook raises the 2026/27 U.S. soybean export forecast while lowering projected year-end stocks, despite a higher production forecast. The figures are estimates, not final crop or sales results.
| Forecast | October | November | Change |
|---|---|---|---|
| Production | 4.562 billion bushels | 4.574 billion bushels | +12 million bushels |
| Yield | 53.1 bushels per acre | 53.3 bushels per acre | +0.2 |
| Harvested area | 85.9 million acres | 85.9 million acres | Unchanged |
| Exports | 1.695 billion bushels | 1.720 billion bushels | +25 million bushels |
| Ending stocks | 315 million bushels | 300 million bushels | −15 million bushels |
| Season-average farm price | $12.00 per bushel | $12.10 per bushel | +$0.10 |
The export increase is larger than the production increase, while USDA left its soybean crush forecast unchanged. The agency cited higher supplies and a strong early-season export pace for the higher export projection. Even with production revised upward, projected ending stocks fell from October.
These forecasts give soybean producers and agricultural businesses updated estimates for supplies, exports and prices, but do not establish actual harvest totals, completed exports or prices received. USDA lists December 14, 2026, as the next scheduled Oil Crops Outlook release.
Sources
- Oil Crops Outlook: November 2026, U.S. Department of Agriculture, Economic Research Service
- Report Snapshot | USDA pegs corn yield at 179.6 bu. per acre, Pro Farmer
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