CHICAGO, Feb 25 (Reuters) - The following are analysts' forecasts of U.S. plantings, yield, production and ending stocks of corn, soybeans, wheat and cotton for the 2025-26 marketing year, ahead of the U.S. Department of Agriculture's annual outlook forum on February 27-28.
The USDA will publish its estimates at 7 a.m. EST (1200 GMT) on Thursday, February 27.
Planted area is shown in millions of acres. Grain and soy yields are shown in bushels per acre, while production and ending stocks figures are shown in billions of bushels. Cotton production and ending stocks figures are shown in millions of bales.
CORN
Planted acres | Yield | Production | 2025-26 end-stocks | |
Average trade estimate | 93.6 | 181.4 | 15.401 | 1.910 |
Highest trade estimate | 95.0 | 183.0 | 15.823 | 2.180 |
Lowest trade estimate | 92.0 | 180.0 | 13.305 | 1.621 |
USDA 2025 Long-term f'cast | 92.0 | 182.0 | 15.305 | 2.269 |
USDA final 2024-25 figures | 90.6 | 179.3 | 14.867 | 1.540 |
USDA 2024 outlook forum for 2024-25 | 91.0 | 181.0 | 15.040 | 2.532 |
Number of forecasts | 17 | 14 | 16 | 16 |
ADM Investor Services | 93.0 | 182.0 | 15.486 | 1.991 |
Advanced Economic Solutions | 93.5 | 181.0 | 15.500 | 2.000 |
Allendale Inc | 93.7 | na | 15.588 | 2.038 |
Brock Associates | 95.0 | 180.0 | 15.595 | 1.784 |
Brugler Marketing & Management | 94.0 | 182.0 | 15.560 | 2.000 |
CoBank | 94.6 | na | na | na |
Doane Advisory Services | 92.0 | 181.0 | 15.200 | 1.820 |
Grain Cycles | 93.5 | 181.0 | 15.530 | 2.180 |
Linn & Associates | 93.6 | 182.0 | 15.536 | 1.856 |
Marex Capital | 93.0 | 181.0 | 15.421 | 1.811 |
Midland Research | 93.7 | 180.5 | 15.465 | 1.970 |
Northstar Commodity | 95.0 | 181.1 | 15.823 | 2.070 |
Risk Management Commodities | 92.7 | 181.0 | 15.436 | 1.621 |
Sid Love Consulting | 92.0 | 182.0 | 13.305 | 1.635 |
Steve Freed Consulting | 94.0 | na | 15.686 | 1.900 |
StoneX | 93.5 | 183.0 | 15.612 | 1.867 |
Zaner Ag Hedge | 94.2 | 182.0 | 15.672 | 2.014 |
SOYBEANS
Planted acres | Yield | Production | 2025-26 end-stocks | |
Average trade estimate | 84.4 | 52.1 | 4.355 | 0.380 |
Highest trade estimate | 86.5 | 53.0 | 4.455 | 0.434 |
Lowest trade estimate | 83.1 | 51.0 | 4.244 | 0.282 |
USDA 2025 Long-term f'cast | 85.0 | 52.5 | 4.420 | 0.515 |
USDA final 2024-25 figures | 87.1 | 50.7 | 4.366 | 0.380 |
USDA 2024 outlook forum for 2024-25 | 87.5 | 52.0 | 4.505 | 0.435 |
Number of forecasts | 17 | 14 | 16 | 16 |
ADM Investor Services | 84.5 | 52.5 | 4.388 | 0.313 |
Advanced Economic Solutions | 84.0 | 53.0 | 4.400 | 0.340 |
Allendale Inc | 83.5 | na | 4.348 | 0.368 |
Brock Associates | 83.5 | 51.5 | 4.244 | 0.282 |
Brugler Marketing & Management | 84.5 | 52.5 | 4.377 | 0.420 |
CoBank | 84.0 | na | na | na |
Doane Advisory Services | 86.5 | 52.0 | 4.455 | 0.350 |
Grain Cycles | 83.1 | 52.0 | 4.280 | 0.410 |
Linn & Associates | 85.1 | 51.0 | 4.289 | 0.421 |
Marex Capital | 85.6 | 51.5 | 4.399 | 0.434 |
Midland Research | 83.9 | 51.5 | 4.267 | 0.404 |
Northstar Commodity | 84.3 | 52.0 | 4.317 | 0.420 |
Risk Management Commodities | 85.1 | 52.0 | 4.359 | 0.418 |
Sid Love Consulting | 85.0 | 52.5 | 4.421 | 0.351 |
Steve Freed Consulting | 83.5 | na | 4.370 | 0.350 |
StoneX | 85.0 | 52.5 | 4.410 | 0.390 |
Zaner Ag Hedge | 83.8 | 52.5 | 4.358 | 0.408 |
WHEAT
Planted acres | Yield | Production | 2025-26 end-stocks | |
Average trade estimate | 46.7 | 50.3 | 1.922 | 0.830 |
Highest trade estimate | 47.9 | 51.0 | 2.020 | 0.890 |
Lowest trade estimate | 46.0 | 48.8 | 1.850 | 0.802 |
USDA 2025 Long-term f'cast | 46.0 | 50.1 | 1.884 | 0.828 |
USDA final 2024-25 figures | 46.1 | 51.2 | 1.971 | 0.794 |
USDA 2024 outlook forum for 2024-25 | 47.0 | 49.5 | 1.900 | 0.769 |
Number of forecasts | 16 | 14 | 16 | 16 |
ADM Investor Services | 46.6 | 51.0 | 1.915 | 0.810 |
Advanced Economic Solutions | 47.0 | 48.8 | 1.850 | 0.840 |
Allendale Inc | 46.2 | na | 1.893 | 0.816 |
Brock Associates | 46.7 | 50.6 | 1.933 | 0.815 |
Brugler Marketing & Management | 47.0 | 50.5 | 1.953 | 0.820 |
Doane Advisory Services | 46.3 | 50.0 | 1.900 | 0.820 |
Grain Cycles | 47.9 | 49.8 | 1.907 | 0.806 |
Linn & Associates | 46.1 | 50.8 | 1.941 | 0.802 |
Marex Capital | 46.3 | 50.0 | 1.954 | 0.856 |
Midland Research | 47.0 | 49.4 | 1.881 | 0.826 |
Northstar Commodity | 46.5 | 51.0 | 2.020 | 0.810 |
Risk Management Commodities | 46.5 | 51.0 | 1.945 | 0.864 |
Sid Love Consulting | 46.0 | 50.1 | 1.884 | 0.890 |
Steve Freed Consulting | 47.1 | na | 1.936 | 0.835 |
StoneX | 46.8 | 50.4 | 1.939 | 0.872 |
Zaner Ag Hedge | 46.4 | 50.1 | 1.9 | 0.802 |
COTTON
Planted acres | All-cotton production | 2025-26 end-stocks | |
Average trade estimate | 10.2 | 13.61 | 4.197 |
Highest trade estimate | 11.0 | 15.52 | 4.750 |
Lowest trade estimate | 8.8 | 11.58 | 3.500 |
USDA 2025 Long-term f'cast* | 10.8* | 15.3* | 4.38* |
USDA final 2024-25 figures | 11.2 | 14.41 | 4.90 |
USDA 2024 outlook forum for 2024-25 | 11.0 | 16.0 | 3.5 |
Number of forecasts | 10 | 9 | 9 |
Brock Associates | 8.800 | 13.210 | 4.020 |
Brugler Marketing & Management | 9.750 | 13.300 | 4.500 |
CoBank | 10.300 | na | na |
Doane Advisory Services | 10.400 | 14.260 | 4.750 |
Linn & Associates | 10.000 | 12.400 | 3.500 |
Marex Capital | 10.400 | 13.900 | 4.100 |
Northstar Commodity | 10.300 | 11.580 | 4.700 |
Risk Management Commodities | 10.700 | 15.520 | 3.700 |
Sid Love Consulting | 11.000 | 15.300 | 4.400 |
StoneX | 10.700 | 13.010 | 4.100 |
*USDA's long-term cotton projections include only upland cotton, excluding Pima cotton.
(Reporting by Julie Ingwersen; Editing by Varun H K)
((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))
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