WASDE - 675 - 8 September 2026 World and U.S. Supply and Use for Grains 1/ Million Metric Tons ================================================================================ Total Total Ending Commodity Output Supply Trade 2/ Use 3/ Stocks ================================================================================ World Total Grains 4/ 2024/25 2858.49 3653.53 500.26 2877.63 775.90 2025/26 (Est.) 3019.13 3795.03 555.47 2979.14 815.89 2026/27 (Proj.) Aug 2949.58 3758.50 527.82 2985.97 772.53 Sep 2944.15 3760.04 527.85 2981.72 778.32 Wheat 2024/25 799.10 1069.04 210.90 808.45 260.59 2025/26 (Est.) 843.99 1104.58 227.64 823.98 280.60 2026/27 (Proj.) Aug 819.30 1099.52 212.71 826.27 273.25 Sep 822.43 1103.04 211.77 826.75 276.29 Coarse Grains 5/ 2024/25 1517.10 1862.40 227.90 1538.32 324.09 2025/26 (Est.) 1629.23 1953.32 268.20 1620.78 332.54 2026/27 (Proj.) Aug 1593.01 1923.54 252.34 1616.90 306.65 Sep 1587.87 1920.41 253.46 1615.36 305.04 Rice, milled 2024/25 542.30 722.09 61.46 530.87 191.22 2025/26 (Est.) 545.91 737.13 59.64 534.39 202.74 2026/27 (Proj.) Aug 537.27 735.43 62.78 542.80 192.63 Sep 533.85 736.59 62.62 539.61 196.99 United States Total Grains 4/ 2024/25 452.42 528.34 101.10 359.89 67.34 2025/26 (Est.) 508.41 582.80 119.89 384.33 78.58 2026/27 (Proj.) Aug 465.30 551.96 111.31 375.63 65.03 Sep 459.56 545.79 111.05 371.82 62.92 Wheat 2024/25 53.85 76.88 22.56 31.06 23.26 2025/26 (Est.) 54.01 80.67 24.71 30.92 25.04 2026/27 (Proj.) Aug 41.66 70.51 21.09 29.91 19.51 Sep 41.66 70.51 21.09 29.91 19.51 Coarse Grains 5/ 2024/25 391.51 441.58 75.68 323.53 42.37 2025/26 (Est.) 447.83 492.50 92.63 348.19 51.69 2026/27 (Proj.) Aug 418.61 473.14 87.74 341.02 44.38 Sep 412.88 466.82 87.48 337.21 42.13 Rice, milled 2024/25 7.05 9.88 2.87 5.31 1.71 2025/26 (Est.) 6.56 9.63 2.56 5.22 1.86 2026/27 (Proj.) Aug 5.03 8.32 2.48 4.70 1.14 Sep 5.02 8.46 2.48 4.70 1.28 ================================================================================ WASDE - 675 - 9 September 2026 World and U.S. Supply and Use for Grains, Continued 1/ Million Metric Tons ================================================================================ Total Total Ending Commodity Output Supply Trade 2/ Use Stocks ================================================================================ Foreign 3/ Total Grains 4/ 2024/25 2406.08 3125.20 399.16 2517.74 708.56 2025/26 (Est.) 2510.72 3212.23 435.58 2594.81 737.30 2026/27 (Proj.) Aug 2484.28 3206.54 416.52 2610.35 707.50 Sep 2484.59 3214.25 416.80 2609.90 715.40 Wheat 2024/25 745.25 992.17 188.35 777.39 237.33 2025/26 (Est.) 789.98 1023.91 202.93 793.05 255.56 2026/27 (Proj.) Aug 777.65 1029.01 191.62 796.36 253.75 Sep 780.78 1032.53 190.68 796.84 256.79 Coarse Grains 5/ 2024/25 1125.58 1420.83 152.22 1214.78 281.72 2025/26 (Est.) 1181.40 1460.82 175.57 1272.59 280.86 2026/27 (Proj.) Aug 1174.40 1450.41 164.60 1275.88 262.26 Sep 1174.99 1453.59 165.98 1278.16 262.91 Rice, milled 2024/25 535.25 712.20 58.59 525.56 189.51 2025/26 (Est.) 539.34 727.50 57.08 529.17 200.89 2026/27 (Proj.) Aug 532.24 727.12 60.30 538.10 191.49 Sep 528.83 728.13 60.14 534.91 195.70 ================================================================================ World and U.S. Supply and Use for Cotton 1/ Million 480-lb. Bales ================================================================================ Total Total Ending Commodity Output Supply Trade 2/ Use 3/ Stocks ================================================================================ World 2024/25 119.53 193.08 42.40 119.10 74.83 2025/26 (Est.) 121.95 196.78 45.58 121.13 75.31 2026/27 (Proj.) Aug 117.63 192.44 43.82 122.92 69.69 Sep 117.32 192.62 44.22 122.92 69.86 United States 2024/25 14.41 17.56 11.90 1.70 4.00 2025/26 (Est.) 13.90 17.90 12.30 1.50 4.15 2026/27 (Proj.) Aug 13.61 17.81 12.30 1.60 4.00 Sep 13.20 17.36 12.30 1.50 3.60 Foreign 4/ 2024/25 105.12 175.51 30.50 117.40 70.83 2025/26 (Est.) 108.05 178.88 33.28 119.63 71.16 2026/27 (Proj.) Aug 104.02 174.62 31.52 121.32 65.69 Sep 104.11 175.26 31.92 121.42 66.26 ================================================================================ WASDE - 675 - 10 September 2026 World and U.S. Supply and Use for Oilseeds 1/ (Million Metric Tons) ================================================================================ Total Total Ending Commodity Output Supply Trade Use 2/ Stocks ================================================================================ World Oilseeds 2024/25 686.96 822.99 213.34 568.95 144.41 2025/26 (Est.) 701.04 845.45 217.41 591.73 145.86 2026/27 (Proj.) Aug 721.02 866.67 218.63 609.54 146.29 Sep 723.46 869.27 221.16 611.62 146.64 Oilmeals 2024/25 392.51 411.47 114.21 382.57 22.50 2025/26 (Est.) 407.80 430.30 118.78 403.27 24.08 2026/27 (Proj.) Aug 414.53 438.29 120.27 408.20 24.61 Sep 415.83 439.64 120.54 409.50 24.67 Vegetable Oils 2024/25 230.83 261.62 88.47 224.05 30.10 2025/26 (Est.) 239.76 269.86 89.50 230.98 30.48 2026/27 (Proj.) Aug 244.95 275.77 91.65 238.61 30.76 Sep 245.36 275.84 92.13 238.58 30.80 United States Oilseeds 2024/25 128.60 140.71 52.56 70.43 10.23 2025/26 (Est.) 126.17 137.57 42.60 76.15 11.03 2026/27 (Proj.) Aug 132.67 144.75 46.42 79.84 10.37 Sep 132.92 145.16 47.14 79.80 10.22 Oilmeals 2024/25 55.27 60.70 16.60 43.65 0.45 2025/26 (Est.) 59.77 65.67 18.81 46.37 0.49 2026/27 (Proj.) Aug 61.91 67.65 20.69 46.47 0.49 Sep 61.89 67.66 20.69 46.48 0.49 Vegetable Oils 2024/25 14.49 21.45 1.27 19.07 1.10 2025/26 (Est.) 15.42 22.59 0.60 20.83 1.16 2026/27 (Proj.) Aug 16.39 24.89 0.32 23.39 1.18 Sep 16.39 24.89 0.32 23.39 1.18 Foreign 3/ Oilseeds 2024/25 558.36 682.28 160.78 498.52 134.17 2025/26 (Est.) 574.86 707.89 174.81 515.59 134.83 2026/27 (Proj.) Aug 588.35 721.92 172.21 529.71 135.92 Sep 590.54 724.10 174.02 531.82 136.42 Oilmeals 2024/25 337.25 350.77 97.61 338.92 22.06 2025/26 (Est.) 348.04 364.63 99.98 356.90 23.58 2026/27 (Proj.) Aug 352.62 370.63 99.58 361.72 24.12 Sep 353.94 371.98 99.85 363.02 24.18 Vegetable Oils 2024/25 216.34 240.17 87.19 204.98 29.00 2025/26 (Est.) 224.35 247.28 88.90 210.15 29.32 2026/27 (Proj.) Aug 228.56 250.87 91.33 215.22 29.59 Sep 228.97 250.94 91.81 215.18 29.63 ================================================================================ WASDE - 675 - 11 September 2026 U.S. Wheat Supply and Use 1/ ================================================================================ 2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj. Item Aug Sep ================================================================================ Million Acres Area Planted 46.3 45.3 42.7 42.7 Area Harvested 38.6 37.2 32.1 32.1 Bushels Yield per Harvested Acre 51.2 53.3 47.8 47.8 Million Bushels Beginning Stocks 696 855 920 920 Production 1979 1985 1531 1531 Imports 150 125 140 140 Supply, Total 2825 2964 2591 2591 Food 969 959 960 960 Seed 61 58 59 59 Feed and Residual 111 119 80 80 Domestic, Total 1141 1136 1099 1099 Exports 829 908 775 775 Use, Total 1970 2044 1874 1874 Ending Stocks 855 920 717 717 Avg.FarmPrice ($/bu) 2/ 5.52 5.06 6.20 6.40 ================================================================================ U.S. Wheat by Class: Supply and Use ================================================================================ Year begining Hard Red Hard Red Soft Red June 1 Winter Spring Winter White Durum Total ================================================================================ Million Bushels 2025/26 (Est.) Beginning Stocks 402 218 127 80 28 855 Production 804 458 353 283 86 1985 Imports 5 61 4 7 48 125 Supply, Total 3/ 1212 737 483 370 162 2964 Food 382 255 152 83 87 959 Seed 25 14 11 6 3 58 Feed and Residual 47 4 67 -4 6 119 Domestic Use 454 272 230 84 96 1136 Exports 321 233 122 199 33 908 Use, Total 775 505 351 284 129 2044 Ending Stocks, Total 437 232 132 86 33 920 2026/27 (Proj.) Beginning Stocks 437 232 132 86 33 920 Production 463 434 287 280 66 1531 Imports 20 65 5 5 45 140 Supply, Total 3/ 919 731 424 371 145 2591 Food 370 267 154 83 86 960 Seed 25 14 11 6 3 59 Feed and Residual 10 10 60 -5 5 80 Domestic Use 405 291 225 84 94 1099 Exports 195 235 100 220 25 775 Use, Total 600 526 325 304 119 1874 Ending Stocks, Total Sep 319 205 99 68 26 717 Aug 304 200 99 88 26 717 ================================================================================ WASDE - 675 - 12 September 2026 U.S. Feed Grain and Corn Supply and Use 1/ ================================================================================ 2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj. Item Aug Sep ================================================================================ Million Acres FEED GRAINS Area Planted 101.8 110.1 107.8 107.7 Area Harvested 91.4 100.0 96.7 96.5 Metric Tons Yield per Harvested Acre 4.28 4.48 4.33 4.28 Million Metric Tons Beginning Stocks 47.9 42.3 52.2 51.7 Production 391.1 447.5 418.3 412.6 Imports 2.0 2.1 2.1 2.1 Supply, Total 441.0 492.0 472.6 466.3 Feed and Residual 143.6 165.6 158.1 154.3 Food, Seed & Industrial 179.4 182.1 182.4 182.4 Domestic, Total 322.9 347.7 340.5 336.7 Exports 75.7 92.6 87.7 87.5 Use, Total 398.6 440.3 428.3 424.2 Ending Stocks 42.3 51.7 44.4 42.1 Million Acres CORN Area Planted 90.9 98.8 96.7 96.8 Area Harvested 83.0 91.3 88.6 88.5 Bushels Yield per Harvested Acre 179.3 186.5 180.7 178.5 Million Bushels Beginning Stocks 1763 1551 1945 1922 Production 14892 17021 16013 15800 Imports 22 30 25 25 Supply, Total 16677 18602 17983 17747 Feed and Residual 5438 6350 6100 5950 Food,Seed& Industrial 2/ 6815 6905 6955 6955 Ethanol & by-products 3/ 5436 5550 5600 5600 Domestic, Total 12253 13255 13055 12905 Exports 2873 3425 3275 3275 Use, Total 15126 16680 16330 16180 Ending Stocks 1551 1922 1653 1567 Avg.FarmPrice ($/bu) 4/ 4.24 4.15 4.50 4.80 ================================================================================ WASDE - 675 - 13 September 2026 U.S. Sorghum, Barley, and Oats Supply and Use 1/ ================================================================================ 2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj. Item Aug Sep ================================================================================ Million Bushels SORGHUM AreaPlanted (mil. acres) 6.3 6.6 6.1 6.0 AreaHarvested(mil.acres) 5.6 6.0 5.4 5.2 Yield (bushels/acre) 61.3 72.6 55.4 54.4 Beginning Stocks 33 40 37 37 Production 344 437 296 284 Imports 0 0 0 0 Supply, Total 377 477 333 321 Feed and Residual 140 110 60 60 Food, Seed & Industrial 98 120 80 80 Total Domestic 238 230 140 140 Exports 98 210 170 160 Use, Total 336 440 310 300 Ending Stocks 40 37 23 21 Avg.FarmPrice ($/bu) 2/ 4.07 3.70 4.30 4.60 BARLEY AreaPlanted (mil. acres) 2.4 2.3 2.3 2.3 AreaHarvested(mil.acres) 1.9 1.8 1.8 1.8 Yield (bushels/acre) 76.6 80.0 78.8 78.8 Beginning Stocks 78 69 66 66 Production 144 141 140 140 Imports 9 7 8 8 Supply, Total 232 217 214 214 Feed and Residual 36 25 30 30 Food, Seed & Industrial 118 115 115 115 Total Domestic 154 140 145 145 Exports 9 11 9 9 Use, Total 162 151 154 154 Ending Stocks 69 66 60 60 Avg.FarmPrice ($/bu) 2/ 6.31 5.46 5.60 5.70 OATS AreaPlanted (mil. acres) 2.2 2.4 2.7 2.7 AreaHarvested(mil.acres) 0.9 0.9 0.9 0.9 Yield (bushels/acre) 76.4 73.8 72.0 72.0 Beginning Stocks 36 28 32 32 Production 68 70 68 68 Imports 71 71 72 72 Supply, Total 176 169 172 172 Feed and Residual 64 51 55 55 Food, Seed & Industrial 81 82 83 83 Total Domestic 145 133 138 138 Exports 2 4 2 2 Use, Total 147 137 140 140 Ending Stocks 28 32 32 32 Avg.FarmPrice ($/bu) 2/ 3.35 3.23 3.35 3.35 ================================================================================ WASDE - 675 - 14 September 2026 U.S. Rice Supply and Use 1/ (Rough Equivalent of Rough and Milled Rice) ================================================================================ 2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj. Item Aug Sep ================================================================================ Million Acres TOTAL RICE Area Planted 2.92 2.81 2.11 2.10 Area Harvested 2.87 2.74 2.07 2.06 Pounds Yield per Harvested Acre 7753 7544 7644 7690 Million Hundredweight Beginning Stocks 2/ 39.8 53.9 53.8 58.4 Production 222.6 206.7 158.4 158.2 Imports 49.3 42.8 49.8 49.8 Supply, Total 311.7 303.4 262.0 266.4 Domestic & Residual 3/ 167.5 164.3 148.0 148.0 Exports, Total 4/ 90.3 80.6 78.0 78.0 Rough 28.8 21.8 19.0 19.0 Milled (rough equiv.) 61.5 58.8 59.0 59.0 Use, Total 257.8 244.9 226.0 226.0 Ending Stocks 53.9 58.4 36.0 40.4 Avg.MillingYield (%) 5/ 70.00 70.00 70.00 70.00 Avg.FarmPrice($/cwt) 6/ 15.10 12.40 14.90 14.90 LONG GRAIN RICE Harvested Acres (mil.) 2.26 2.08 Yield (pounds/acre) 7626 7359 Beginning Stocks 19.3 37.3 37.6 41.8 Imports 42.7 36.6 43.0 43.0 Production 172.0 153.3 106.7 103.5 Supply, Total 7/ 234.0 227.3 187.3 188.4 Domestic & Residual 3/ 136.0 131.9 117.0 117.0 Exports 8/ 60.7 53.6 50.0 50.0 Use, Total 196.7 185.4 167.0 167.0 Ending Stocks 37.3 41.8 20.3 21.4 Avg.FarmPrice($/cwt) 6/ 14.00 10.40 13.50 13.50 MEDIUM & SHORT GRAIN RICE Harvested Acres (mil.) 0.62 0.66 Yield (pounds/acre) 8219 8130 Beginning Stocks 18.9 13.7 13.4 14.1 Imports 6.5 6.1 6.8 6.8 Production 50.6 53.4 51.7 54.6 Supply, Total 7/ 74.9 73.6 71.8 75.5 Domestic & Residual 3/ 31.5 32.4 31.0 31.0 Exports 8/ 29.6 27.1 28.0 28.0 Use, Total 61.1 59.5 59.0 59.0 Ending Stocks 13.7 14.1 12.8 16.5 Avg. Farm Price ($/cwt) 1/ 6/ 9/ 18.50 18.30 18.70 18.70 California 10/ 18.70 20.00 20.50 20.50 Other States 1/ 15.00 14.70 15.00 15.00 ================================================================================ WASDE - 675 - 15 September 2026 U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ ================================================================================ 2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj. Item Aug Sep ================================================================================ Million Acres SOYBEANS Area Planted 87.3 81.2 86.8 86.9 Area Harvested 86.2 80.4 85.8 85.9 Bushels Yield per Harvested Acre 50.7 53.0 52.7 52.8 Million Bushels Beginning Stocks 342 325 325 325 Production 4374 4262 4519 4535 Imports 30 25 25 25 Supply, Total 4746 4612 4869 4885 Crushings 2445 2655 2780 2780 Exports 1892 1520 1660 1685 Seed 70 75 73 73 Residual 14 37 37 38 Use, Total 4421 4287 4549 4575 Ending Stocks 325 325 320 310 Avg.FarmPrice ($/bu) 2/ 10.00 10.50 11.40 12.00 Million Pounds SOYBEAN OIL Beginning Stocks 1551 1747 1837 1837 Production 4/ 29218 30970 32945 32945 Imports 362 450 600 600 Supply, Total 31131 33167 35382 35382 Domestic Disappearance 26912 30355 33105 33105 Biofuel 3/ 11758 14800 17800 17800 Food, Feed & other Industrial 15154 15555 15305 15305 Exports 2472 975 400 400 Use, Total 29384 31330 33505 33505 Ending stocks 1747 1837 1877 1877 Avg. Price (c/lb) 2/ 47.59 64.00 70.00 70.00 Thousand Short Tons SOYBEAN MEAL Beginning Stocks 453 398 450 450 Production 4/ 58443 63302 65800 65800 Imports 806 975 875 900 Supply, Total 59703 64675 67125 67150 Domestic Disappearance 41232 43725 43975 44000 Exports 18073 20500 22700 22700 Use, Total 59305 64225 66675 66700 Ending Stocks 398 450 450 450 Avg. Price ($/s.t.) 2/ 299.77 325.00 310.00 340.00 ================================================================================ WASDE - 675 - 16 September 2026 U.S. Sugar Supply and Use 1/ ================================================================================ 2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj. Item Aug Sep ================================================================================ 1000 Short Tons, Raw Value Beginning Stocks 2141 2376 1904 2033 Production 2/ 9397 9265 8950 8839 Beet Sugar 5370 5076 4791 4769 Cane Sugar 4027 4189 4159 4071 Florida 1932 1957 1893 1819 Louisiana 2095 2232 2266 2252 Texas 0 0 0 0 Imports 3393 2964 3582 3396 TRQ 3/ 1534 1313 1419 1391 Other Program 4/ 373 340 300 300 Non-program 1485 1310 1863 1705 Mexico 504 242 1346 1188 High-tier tariff/other 980 1068 517 517 Total Supply 14931 14604 14436 14268 Exports 111 25 25 25 Deliveries 12485 12546 12546 12546 Food 12375 12441 12441 12441 Other 5/ 111 105 105 105 Miscellaneous -41 0 0 0 Total Use 12555 12571 12571 12571 Ending Stocks 2376 2033 1865 1697 Stocks to Use Ratio 18.9 16.2 14.8 13.5 ================================================================================ Mexico Sugar Supply and Use and High Fructose Corn Syrup Consumption 1/ ================================================================================ Supply Use Fiscal Beginning Produc- Imports Domestic Exports Ending Year Stocks tion 2/ Stocks ================================================================================ 1000 Metric Tons, Actual Weight Sugar 2025/26 Est. Aug 1123 5325 42 4250 981 1259 Sep 1123 5325 42 4278 843 1370 2026/27 Proj. Aug 1259 5377 28 4226 1357 1082 Sep 1370 5377 28 4245 1387 1143 ================================================================================ WASDE - 675 - 17 September 2026 U.S. Cotton Supply and Use 1/ ================================================================================ 2024/25 2025/26 Est. 2026/27 Proj. 2026/27 Proj. Item Aug Sep ================================================================================ Million Acres Planted 11.18 9.28 10.47* 10.45** Harvested 7.76 7.83 8.19* 8.16** Pounds Yield per Harvested Acre 892 852 798* 776** Million 480 Pound Bales Beginning Stocks 3.15 4.00 4.20 4.15 Production 14.41 13.90 13.61 13.20 Imports 0.00 0.00 0.01 0.01 Supply, Total 17.56 17.90 17.81 17.36 Domestic Use 1.70 1.50 1.60 1.50 Exports, Total 11.90 12.30 12.30 12.30 Use, Total 13.60 13.80 13.90 13.80 Unaccounted 2/ -0.04 -0.05 -0.09 -0.04 Ending Stocks 4.00 4.15 4.00 3.60 Avg. Farm Price 3/ 63.2 62.0 75.0 78.0 ================================================================================ WASDE - 675 - 18 September 2026 World Wheat Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2024/25 World 3/ 269.94 799.10 201.85 157.28 808.45 210.90 260.59 World Less China 135.42 659.00 197.68 124.28 658.45 209.89 132.82 United States 18.95 53.85 4.07 3.02 31.06 22.56 23.26 Total Foreign 250.99 745.25 197.78 154.26 777.40 188.35 237.33 Major Exporters 4/ 41.37 314.61 11.93 74.01 181.01 152.99 33.92 Argentina 4.54 18.51 0.01 0.25 7.15 13.31 2.60 Australia 2.41 34.11 0.22 5.60 9.10 23.65 3.99 Canada 5.31 35.94 0.61 3.06 8.26 29.35 4.24 European Union 5/ 15.92 121.06 10.72 44.50 108.00 27.92 11.77 Russia 11.69 81.60 0.30 17.00 40.00 43.00 10.59 Ukraine 1.51 23.40 0.07 3.60 8.50 15.75 0.73 Major Importers 6/ 177.58 211.37 121.05 51.60 327.32 16.27 166.41 Bangladesh 1.28 1.10 5.80 0.20 7.40 0.00 0.78 Brazil 1.71 7.89 7.20 0.70 12.20 1.89 2.70 China 134.52 140.10 4.17 33.00 150.00 1.02 127.78 Japan 1.09 1.07 5.57 0.73 6.28 0.34 1.12 N. Africa 7/ 11.51 15.84 31.77 1.35 46.20 2.51 10.41 Nigeria 0.45 0.13 6.23 0.00 5.90 0.38 0.52 Sel. Mideast 8/ 12.51 23.56 17.59 2.99 40.53 0.68 12.44 Southeast Asia 9/ 4.56 0.00 29.17 9.40 28.27 1.45 4.01 Selected Other India 7.50 113.29 0.16 6.00 108.96 0.19 11.80 Kazakhstan 3.45 18.58 0.50 3.90 9.00 10.19 3.33 United Kingdom 3.26 11.15 3.81 6.83 15.03 0.50 2.69 2025/26 Est. World 3/ 260.59 843.99 221.58 168.51 823.98 227.64 280.60 World Less China 132.82 703.92 216.12 135.51 673.98 226.54 158.40 United States 23.26 54.01 3.40 3.24 30.92 24.71 25.04 Total Foreign 237.33 789.98 218.18 165.26 793.05 202.93 255.56 Major Exporters 4/ 33.92 363.97 8.52 82.93 190.68 166.71 49.02 Argentina 2.60 27.89 0.02 0.50 7.60 19.10 3.81 Australia 3.99 35.99 0.23 7.00 10.60 24.00 5.61 Canada 4.24 40.56 0.62 3.63 8.98 29.79 6.65 European Union 5/ 11.77 145.14 7.28 50.00 113.50 31.72 18.97 Russia 10.59 90.30 0.30 18.00 41.20 48.00 11.99 Ukraine 0.73 24.10 0.08 3.80 8.80 14.10 2.00 Major Importers 6/ 166.41 205.53 138.37 53.32 333.02 14.93 162.36 Bangladesh 0.78 1.05 7.35 0.30 7.80 0.00 1.38 Brazil 2.70 7.87 6.40 0.75 12.41 1.84 2.72 China 127.78 140.07 5.46 33.00 150.00 1.10 122.20 Japan 1.12 1.06 5.71 0.78 6.36 0.32 1.22 N. Africa 7/ 10.41 17.42 34.99 1.75 48.05 1.70 13.06 Nigeria 0.52 0.13 5.93 0.00 5.90 0.40 0.28 Sel. Mideast 8/ 12.44 19.35 22.01 2.89 41.23 0.75 11.82 Southeast Asia 9/ 4.01 0.00 33.83 11.15 31.23 1.54 5.07 Selected Other India 11.80 117.95 0.13 6.00 107.84 0.24 21.80 Kazakhstan 3.33 19.33 1.40 4.40 9.55 11.50 3.00 United Kingdom 2.69 11.96 3.36 7.20 15.00 0.42 2.58 ================================================================================ WASDE - 675 - 19 September 2026 World Wheat Supply and Use 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2026/27 Proj. World 3/ Aug 280.22 819.30 208.28 163.83 826.27 212.71 273.25 Sep 280.60 822.43 207.48 164.73 826.75 211.77 276.29 World Less China Aug 158.02 678.30 202.28 132.83 678.27 211.71 153.05 Sep 158.40 681.43 201.48 133.73 678.75 210.77 156.09 United States Aug 25.04 41.66 3.81 2.18 29.91 21.09 19.51 Sep 25.04 41.66 3.81 2.18 29.91 21.09 19.51 Total Foreign Aug 255.18 777.65 204.47 161.65 796.36 191.62 253.75 Sep 255.56 780.78 203.67 162.56 796.84 190.68 256.79 Major Exporters 4/ Aug 48.29 332.10 7.80 81.95 190.10 156.00 42.08 Sep 49.02 336.30 7.80 82.45 190.60 155.50 47.02 Argentina Aug 3.80 21.00 0.01 0.25 7.45 15.00 2.37 Sep 3.81 21.50 0.01 0.25 7.45 15.50 2.37 Australia Aug 5.11 28.00 0.24 5.00 8.65 22.00 2.69 Sep 5.61 31.00 0.24 5.50 9.15 23.50 4.19 Canada Aug 6.31 35.00 0.65 3.50 8.85 28.50 4.61 Sep 6.65 36.00 0.65 3.20 8.55 30.00 4.75 European Union 5/ Aug 19.08 134.20 6.50 51.00 114.75 31.00 14.03 Sep 18.97 133.80 6.50 51.00 114.75 31.00 13.52 Russia Aug 11.99 88.50 0.30 18.00 41.20 46.00 13.59 Sep 11.99 88.00 0.30 18.00 41.20 43.00 16.09 Ukraine Aug 2.00 25.40 0.10 4.20 9.20 13.50 4.80 Sep 2.00 26.00 0.10 4.50 9.50 12.50 6.10 Major Importers 6/ Aug 162.53 220.30 128.19 51.52 333.87 15.25 161.90 Sep 162.36 220.20 126.44 51.52 333.87 14.74 160.39 Bangladesh Aug 1.43 1.05 7.00 0.30 8.00 0.00 1.48 Sep 1.38 1.05 7.00 0.30 8.00 0.00 1.43 Brazil Aug 2.71 6.10 7.50 0.60 12.30 1.90 2.11 Sep 2.72 6.00 7.50 0.60 12.30 1.90 2.02 China Aug 122.20 141.00 6.00 31.00 148.00 1.00 120.20 Sep 122.20 141.00 6.00 31.00 148.00 1.00 120.20 Japan Aug 1.22 1.13 5.55 0.75 6.35 0.34 1.21 Sep 1.22 1.13 5.55 0.75 6.35 0.34 1.21 N. Africa 7/ Aug 13.47 23.10 29.10 1.98 49.13 2.45 14.10 Sep 13.06 23.10 27.55 1.98 48.98 1.95 12.79 Nigeria Aug 0.23 0.14 6.20 0.00 5.80 0.40 0.37 Sep 0.28 0.14 6.20 0.00 5.85 0.40 0.37 Sel. Mideast 8/ Aug 11.69 23.24 19.84 2.95 42.05 0.68 12.05 Sep 11.82 23.24 19.74 2.95 42.20 0.68 11.93 Southeast Asia 9/ Aug 5.02 0.00 31.40 10.50 31.20 1.59 3.63 Sep 5.07 0.00 31.40 10.50 31.25 1.58 3.64 India Aug 21.80 121.00 0.10 7.50 111.40 2.00 29.50 Sep 21.80 121.00 0.10 7.50 111.40 2.00 29.50 Kazakhstan Aug 3.00 16.00 0.70 2.50 7.68 10.00 2.03 Sep 3.00 15.00 1.50 2.80 7.98 9.50 2.03 United Kingdom Aug 2.62 12.00 3.60 7.20 15.20 0.50 2.52 Sep 2.58 12.00 3.60 7.20 15.20 0.50 2.48 ================================================================================ WASDE - 675 - 20 September 2026 World Coarse Grain Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2024/25 World 3/ 345.31 1517.10 226.28 944.49 1538.32 227.90 324.09 World Less China 131.85 1213.63 208.04 694.74 1196.24 227.90 131.00 United States 47.87 391.51 2.19 143.70 323.53 75.68 42.37 Total Foreign 297.44 1125.58 224.09 800.79 1214.79 152.22 281.72 Major Exporters 4/ 21.41 332.41 5.07 141.66 204.97 125.40 28.52 Argentina 3.60 57.46 0.01 15.07 21.28 33.79 5.99 Australia 1.83 17.70 0.00 4.80 6.67 11.37 1.48 Brazil 8.09 143.59 2.83 72.00 100.93 42.14 11.44 Canada 3.91 27.52 1.87 14.85 22.92 6.90 3.48 Russia 1.71 34.78 0.10 20.43 28.40 6.77 1.41 Ukraine 1.27 33.47 0.02 8.23 11.06 22.35 1.35 Major Importers 5/ 38.44 228.36 155.15 285.52 375.11 11.29 35.56 European Union 6/ 15.19 137.22 20.18 109.85 149.59 9.16 13.83 Japan 1.45 0.20 16.72 13.16 16.85 0.00 1.52 Mexico 6.28 28.23 27.06 32.55 55.48 0.03 6.07 N. Afr & Mideast 7/ 8.35 30.98 45.50 67.40 76.30 1.56 6.96 Saudi Arabia 1.41 0.27 8.44 8.37 8.71 0.00 1.41 Southeast Asia 8/ 3.18 31.18 21.27 40.52 51.92 0.54 3.17 South Korea 2.06 0.16 11.56 9.30 11.64 0.00 2.15 Selected Other China 213.46 303.47 18.24 249.75 342.08 0.01 193.09 2025/26 Est. World 3/ 324.09 1629.23 244.13 992.98 1620.78 268.20 332.54 World Less China 131.00 1319.04 218.36 734.38 1269.86 268.17 154.44 United States 42.37 447.83 2.30 165.60 348.19 92.63 51.69 Total Foreign 281.72 1181.40 241.83 827.38 1272.59 175.57 280.86 Major Exporters 4/ 28.52 368.19 5.20 146.41 217.91 147.64 36.35 Argentina 5.99 72.42 0.01 16.68 23.07 49.80 5.55 Australia 1.48 21.25 0.00 4.29 6.16 14.73 1.84 Brazil 11.44 149.90 2.66 72.53 107.91 40.51 15.59 Canada 3.48 29.41 2.27 16.50 24.87 6.42 3.88 Russia 1.41 39.35 0.10 22.03 30.60 8.82 1.44 Ukraine 1.35 37.22 0.02 6.85 10.01 23.95 4.63 Major Importers 5/ 35.56 233.93 165.34 294.69 383.68 13.26 37.88 European Union 6/ 13.83 143.48 20.22 111.03 150.09 11.87 15.56 Japan 1.52 0.25 16.87 13.41 17.12 0.00 1.51 Mexico 6.07 28.99 27.66 33.32 56.50 0.03 6.19 N. Afr & Mideast 7/ 6.96 29.73 51.48 70.61 79.50 0.80 7.87 Saudi Arabia 1.41 0.27 10.07 10.03 10.37 0.00 1.39 Southeast Asia 8/ 3.17 30.95 22.69 42.23 53.43 0.56 2.81 South Korea 2.15 0.16 11.62 9.45 11.79 0.00 2.14 Selected Other China 193.09 310.19 25.78 258.60 350.93 0.03 178.10 ================================================================================ WASDE - 675 - 21 September 2026 World Coarse Grain Supply and Use 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2026/27 Proj. World 3/ Aug 330.53 1593.01 243.43 998.19 1616.90 252.34 306.65 Sep 332.54 1587.87 244.32 994.77 1615.36 253.46 305.04 World Less China Aug 152.43 1277.06 219.93 738.84 1265.22 252.31 140.80 Sep 154.44 1271.92 219.30 733.92 1262.19 253.44 139.17 United States Aug 52.27 418.61 2.25 158.16 341.02 87.74 44.38 Sep 51.69 412.88 2.25 154.35 337.21 87.48 42.13 Total Foreign Aug 278.26 1174.40 241.17 840.03 1275.88 164.60 262.26 Sep 280.86 1174.99 242.07 840.42 1278.16 165.98 262.91 Major Exporters 4/ Aug 34.48 357.42 5.27 149.46 222.86 139.85 34.47 Sep 36.35 360.02 5.15 148.74 223.92 140.67 36.94 Argentina Aug 5.55 64.22 0.01 15.03 21.57 43.40 4.81 Sep 5.55 64.22 0.01 15.03 21.62 43.30 4.86 Australia Aug 1.84 18.45 0.00 5.80 7.68 10.51 2.11 Sep 1.84 21.49 0.00 5.94 7.81 12.83 2.69 Brazil Aug 14.18 147.21 2.90 72.25 109.28 44.11 10.90 Sep 15.59 147.21 2.80 72.05 110.98 43.41 11.21 Canada Aug 4.05 30.65 2.14 16.67 25.00 7.78 4.07 Sep 3.88 30.95 2.14 16.82 25.15 7.78 4.04 Russia Aug 1.44 41.27 0.10 24.30 32.72 7.58 2.52 Sep 1.44 39.97 0.10 23.37 31.62 7.38 2.52 Ukraine Aug 4.03 38.59 0.01 7.88 11.24 24.27 7.13 Sep 4.63 39.09 0.01 7.98 11.34 23.77 8.63 Major Importers 5/ Aug 38.02 230.25 167.36 298.90 388.72 10.51 36.40 Sep 37.88 230.65 165.88 298.10 387.93 10.31 36.17 European Union 6/ Aug 15.65 130.63 24.42 108.35 147.27 9.26 14.16 Sep 15.56 131.03 24.42 108.95 147.87 9.06 14.07 Japan Aug 1.51 0.25 16.76 13.26 16.95 0.00 1.58 Sep 1.51 0.25 16.76 13.26 16.95 0.00 1.58 Mexico Aug 6.43 29.70 28.70 35.85 59.48 0.02 5.32 Sep 6.19 29.70 28.20 35.14 58.77 0.02 5.30 N. Afr & Mideast 7/ Aug 7.69 37.88 47.21 74.09 83.34 0.66 8.78 Sep 7.87 37.88 45.91 73.09 82.34 0.66 8.67 Saudi Arabia Aug 1.39 0.27 9.01 8.96 9.30 0.00 1.36 Sep 1.39 0.27 9.31 9.26 9.60 0.00 1.36 Southeast Asia 8/ Aug 2.81 31.25 25.03 44.48 55.88 0.57 2.65 Sep 2.81 31.25 25.03 44.48 55.88 0.57 2.65 South Korea Aug 2.14 0.16 11.61 9.39 11.73 0.00 2.18 Sep 2.14 0.16 11.62 9.40 11.74 0.00 2.18 China Aug 178.10 315.95 23.50 259.35 351.68 0.03 165.85 Sep 178.10 315.95 25.03 260.85 353.18 0.03 165.88 ================================================================================ WASDE - 675 - 22 September 2026 World Corn Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2024/25 World 3/ 313.84 1235.03 186.55 785.80 1253.17 187.58 295.70 World Less China 102.65 940.12 184.73 551.80 937.17 187.58 103.77 United States 44.79 378.27 0.55 138.12 311.24 72.97 39.40 Total Foreign 269.05 856.77 186.00 647.68 941.93 114.62 256.30 Major Exporters 4/ 11.77 243.15 1.94 99.03 140.13 96.15 20.58 Argentina 2.46 49.00 0.01 12.70 17.10 29.07 5.30 Brazil 7.35 136.00 1.76 65.00 92.50 42.01 10.60 Russia 0.76 14.00 0.05 9.80 10.90 3.00 0.91 South Africa 0.65 17.35 0.11 6.23 13.13 2.05 2.93 Ukraine 0.54 26.80 0.02 5.30 6.50 20.02 0.84 Major Importers 5/ 21.36 121.05 107.30 163.95 225.90 3.33 20.48 Egypt 1.43 7.00 10.56 14.70 17.30 0.00 1.69 European Union 6/ 7.26 59.59 18.76 55.80 76.70 2.76 6.15 Japan 1.30 0.02 15.46 12.10 15.40 0.00 1.37 Mexico 5.63 23.10 25.93 27.50 49.10 0.03 5.53 Southeast Asia 7/ 3.17 31.13 20.80 40.25 51.40 0.54 3.16 South Korea 2.04 0.09 11.44 9.25 11.45 0.00 2.13 Selected Other Canada 2.00 15.35 1.69 8.58 14.44 3.00 1.58 China 211.19 294.92 1.82 234.00 316.00 0.00 191.93 2025/26 Est. World 3/ 295.70 1330.81 196.33 826.12 1325.13 218.21 301.38 World Less China 103.77 1029.57 192.33 588.12 1005.13 218.19 124.23 United States 39.40 432.34 0.76 161.30 336.69 87.00 48.82 Total Foreign 256.30 898.47 195.56 664.82 988.44 131.21 252.56 Major Exporters 4/ 20.58 267.80 1.80 101.40 149.30 114.80 26.07 Argentina 5.30 63.00 0.01 14.00 18.60 45.00 4.71 Brazil 10.60 141.00 1.70 65.00 98.50 40.00 14.80 Russia 0.91 14.80 0.05 10.00 11.10 4.00 0.66 South Africa 2.93 18.10 0.03 7.40 14.60 3.40 3.06 Ukraine 0.84 30.90 0.01 5.00 6.50 22.40 2.85 Major Importers 5/ 20.48 119.31 111.91 167.30 228.55 2.79 20.36 Egypt 1.69 6.70 12.50 16.20 18.90 0.00 1.99 European Union 6/ 6.15 56.80 19.00 53.70 73.80 2.20 5.95 Japan 1.37 0.02 15.50 12.20 15.50 0.00 1.39 Mexico 5.53 24.70 26.50 29.20 51.00 0.03 5.70 Southeast Asia 7/ 3.16 30.90 22.26 42.00 52.95 0.56 2.81 South Korea 2.13 0.09 11.50 9.40 11.60 0.00 2.12 Selected Other Canada 1.58 14.87 2.10 9.30 15.30 1.25 2.00 China 191.93 301.24 4.00 238.00 320.00 0.02 177.15 ================================================================================ WASDE - 675 - 23 September 2026 World Corn Supply and Use 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic 2/ Ending Stocks tion Imports Feed Total Exports Stocks ================================================================================ 2026/27 Proj. World 3/ Aug 298.83 1298.88 203.73 832.46 1323.05 210.48 274.66 Sep 301.38 1290.95 203.11 827.40 1320.23 210.08 272.10 World Less China Aug 121.68 991.88 198.73 590.46 999.05 210.46 109.53 Sep 124.23 983.95 198.11 585.40 996.23 210.06 106.97 United States Aug 49.40 406.75 0.64 154.95 331.61 83.19 41.98 Sep 48.82 401.33 0.64 151.14 327.80 83.19 39.79 Total Foreign Aug 249.43 892.13 203.09 677.51 991.44 127.30 232.68 Sep 252.56 889.62 202.47 676.26 992.43 126.90 232.31 Major Exporters 4/ Aug 23.94 259.50 1.87 102.40 152.30 110.00 23.01 Sep 26.07 258.80 1.87 101.90 153.80 108.90 24.04 Argentina Aug 4.71 55.00 0.01 13.00 17.70 38.00 4.01 Sep 4.71 55.00 0.01 13.00 17.70 38.00 4.01 Brazil Aug 13.30 139.00 1.80 65.00 100.00 44.00 10.10 Sep 14.80 139.00 1.80 65.00 102.00 43.00 10.60 Russia Aug 0.66 17.20 0.05 11.50 12.70 3.80 1.41 Sep 0.66 16.50 0.05 11.00 12.20 3.70 1.31 South Africa Aug 3.03 16.50 0.00 7.40 14.70 2.20 2.63 Sep 3.06 16.50 0.00 7.40 14.70 2.20 2.66 Ukraine Aug 2.25 31.80 0.01 5.50 7.20 22.00 4.86 Sep 2.85 31.80 0.01 5.50 7.20 22.00 5.46 Major Importers 5/ Aug 20.56 113.22 120.50 171.85 233.60 2.19 18.50 Sep 20.36 113.62 120.00 171.55 233.30 2.19 18.50 Egypt Aug 1.99 7.00 13.20 17.40 20.10 0.00 2.09 Sep 1.99 7.00 13.20 17.40 20.10 0.00 2.09 European Union 6/ Aug 5.95 50.20 23.50 53.00 73.00 1.60 5.05 Sep 5.95 50.60 23.50 53.40 73.40 1.60 5.05 Japan Aug 1.39 0.02 15.50 12.20 15.50 0.00 1.41 Sep 1.39 0.02 15.50 12.20 15.50 0.00 1.41 Mexico Aug 5.90 24.60 27.70 31.20 53.40 0.02 4.78 Sep 5.70 24.60 27.20 30.50 52.70 0.02 4.78 Southeast Asia 7/ Aug 2.81 31.20 24.55 44.20 55.35 0.57 2.64 Sep 2.81 31.20 24.55 44.20 55.35 0.57 2.64 South Korea Aug 2.12 0.09 11.50 9.35 11.55 0.00 2.17 Sep 2.12 0.09 11.50 9.35 11.55 0.00 2.17 Canada Aug 1.85 16.50 2.00 9.40 15.40 3.00 1.95 Sep 2.00 16.80 2.00 9.70 15.70 3.00 2.10 China Aug 177.15 307.00 5.00 242.00 324.00 0.02 165.13 Sep 177.15 307.00 5.00 242.00 324.00 0.02 165.13 ================================================================================ WASDE - 675 - 24 September 2026 World Rice Supply and Use (Milled Basis) 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Total 2/ Ending Stocks tion Imports Domestic Exports Stocks ================================================================================ 2024/25 World 3/ 179.79 542.30 58.03 530.87 61.46 191.22 World Less China 76.79 397.02 55.70 385.91 60.31 86.72 United States 1.27 7.05 1.56 5.30 2.87 1.71 Total Foreign 178.52 535.25 56.47 525.56 58.59 189.51 Major Exporters 4/ 49.98 219.50 3.60 169.96 46.41 56.71 Burma 1.22 11.90 0.01 9.60 2.53 1.00 India 42.00 150.18 0.00 121.36 22.83 48.00 Pakistan 1.22 9.72 0.02 4.20 5.13 1.63 Thailand 2.21 20.84 0.05 12.50 7.86 2.75 Vietnam 3.34 26.85 3.53 22.30 8.06 3.35 Major Importers 5/ 118.08 239.52 23.22 257.91 1.51 121.40 China 103.00 145.28 2.34 144.96 1.15 104.50 European Union 6/ 0.60 1.60 2.53 3.50 0.34 0.89 Indonesia 6.17 34.10 0.81 35.50 0.00 5.58 Nigeria 1.41 5.75 3.30 8.30 0.00 2.16 Philippines 3.40 12.37 5.43 17.50 0.00 3.70 Sel. Mideast 7/ 1.41 2.28 5.57 7.05 0.00 2.21 Selected Other Brazil 0.34 8.68 0.95 7.40 1.37 1.19 C. Amer & Carib 8/ 0.57 1.41 1.95 3.21 0.09 0.64 Egypt 0.46 3.90 0.16 4.05 0.15 0.31 Japan 1.60 7.29 0.84 8.05 0.05 1.63 Mexico 0.12 0.17 0.89 1.00 0.03 0.15 South Korea 1.21 3.59 0.33 4.25 0.19 0.68 2025/26 Est. World 3/ 191.22 545.91 56.37 534.39 59.64 202.74 World Less China 86.72 399.58 52.29 387.04 57.58 97.24 United States 1.71 6.56 1.36 5.22 2.56 1.86 Total Foreign 189.51 539.34 55.01 529.17 57.08 200.89 Major Exporters 4/ 56.71 222.92 3.18 169.27 44.90 68.64 Burma 1.00 12.00 0.01 9.30 2.30 1.40 India 48.00 154.02 0.00 120.52 23.00 58.50 Pakistan 1.63 10.00 0.02 4.50 4.50 2.64 Thailand 2.75 20.70 0.05 12.70 7.00 3.80 Vietnam 3.35 26.20 3.10 22.25 8.10 2.30 Major Importers 5/ 121.40 241.71 21.42 261.48 2.51 120.54 China 104.50 146.33 4.08 147.35 2.06 105.50 European Union 6/ 0.89 1.77 2.30 3.60 0.40 0.96 Indonesia 5.58 33.80 0.50 35.30 0.00 4.58 Nigeria 2.16 5.90 2.80 8.60 0.00 2.27 Philippines 3.70 12.35 4.35 17.70 0.00 2.70 Sel. Mideast 7/ 2.21 2.23 4.18 6.98 0.00 1.63 Selected Other Brazil 1.19 7.60 0.93 7.35 1.40 0.96 C. Amer & Carib 8/ 0.64 1.31 1.98 3.32 0.08 0.53 Egypt 0.31 4.20 0.23 4.15 0.15 0.44 Japan 1.63 7.48 0.75 7.95 0.07 1.85 Mexico 0.15 0.18 0.80 1.01 0.01 0.12 South Korea 0.68 3.54 0.41 3.85 0.18 0.60 ================================================================================ WASDE - 675 - 25 September 2026 World Rice Supply and Use (Milled Basis) 1/ (Contd.) (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Total 2/ Ending Stocks tion Imports Domestic Exports Stocks ================================================================================ 2026/27 Proj. World 3/ Aug 198.17 537.27 60.24 542.80 62.78 192.63 Sep 202.74 533.85 59.83 539.61 62.62 196.99 World Less China Aug 92.67 390.27 56.24 395.50 60.58 85.63 Sep 97.24 386.85 55.83 392.31 60.42 89.99 United States Aug 1.71 5.03 1.58 4.70 2.48 1.14 Sep 1.86 5.02 1.58 4.70 2.48 1.28 Total Foreign Aug 196.46 532.24 58.66 538.11 60.30 191.49 Sep 200.89 528.83 58.24 534.91 60.14 195.70 Major Exporters 4/ Aug 64.34 217.00 3.88 176.80 47.70 60.71 Sep 68.64 214.00 3.68 173.70 47.70 64.91 Burma Aug 1.40 11.00 0.01 9.10 2.10 1.21 Sep 1.40 11.00 0.01 9.10 2.10 1.21 India Aug 54.00 150.00 0.00 128.00 25.00 51.00 Sep 58.50 147.00 0.00 125.00 25.00 55.50 Pakistan Aug 2.64 9.60 0.02 4.70 5.00 2.56 Sep 2.64 9.60 0.02 4.70 5.00 2.56 Thailand Aug 3.80 20.30 0.05 12.80 7.50 3.85 Sep 3.80 20.30 0.05 12.80 7.50 3.85 Vietnam Aug 2.50 26.10 3.80 22.20 8.10 2.10 Sep 2.30 26.10 3.60 22.10 8.10 1.80 Major Importers 5/ Aug 120.79 241.78 23.35 262.45 2.65 120.82 Sep 120.54 241.28 23.25 262.20 2.65 120.22 China Aug 105.50 147.00 4.00 147.30 2.20 107.00 Sep 105.50 147.00 4.00 147.30 2.20 107.00 European Union 6/ Aug 0.96 1.73 2.35 3.70 0.41 0.93 Sep 0.96 1.73 2.35 3.70 0.41 0.93 Indonesia Aug 4.58 33.60 0.50 35.00 0.00 3.68 Sep 4.58 33.60 0.50 35.00 0.00 3.68 Nigeria Aug 2.27 5.67 2.90 8.80 0.00 2.04 Sep 2.27 5.67 2.90 8.80 0.00 2.04 Philippines Aug 2.70 12.40 5.60 17.90 0.00 2.80 Sep 2.70 12.40 5.60 17.90 0.00 2.80 Sel. Mideast 7/ Aug 1.88 2.23 4.70 7.25 0.00 1.56 Sep 1.63 2.23 4.60 7.00 0.00 1.46 Brazil Aug 0.96 7.40 0.95 7.30 1.40 0.61 Sep 0.96 7.40 0.95 7.30 1.40 0.61 C. Amer & Carib 8/ Aug 0.55 1.33 2.09 3.35 0.08 0.55 Sep 0.53 1.33 2.02 3.33 0.06 0.49 Egypt Aug 0.44 4.20 0.20 4.18 0.20 0.46 Sep 0.44 4.20 0.20 4.18 0.20 0.46 Japan Aug 1.90 7.38 0.70 8.05 0.08 1.85 Sep 1.85 7.38 0.70 8.00 0.08 1.85 Mexico Aug 0.12 0.19 0.83 1.02 0.01 0.10 Sep 0.12 0.19 0.83 1.02 0.01 0.10 South Korea Aug 0.60 3.49 0.41 3.78 0.18 0.55 Sep 0.60 3.49 0.41 3.78 0.18 0.55 ================================================================================ WASDE - 675 - 26 September 2026 World Cotton Supply and Use 1/ (Million 480-Pound Bales) ================================================================================ Supply Use Region Beginning Produc- Loss Ending Stocks tion Imports Domestic Exports 2/ Stocks ================================================================================ 2024/25 World 73.54 119.53 43.03 119.10 42.40 -0.23 74.83 World Less China 36.83 87.53 37.84 80.10 42.34 -0.23 39.99 United States 3.15 14.41 3/ 1.70 11.90 -0.04 4.00 Total Foreign 70.39 105.12 43.03 117.40 30.50 -0.19 70.83 Major Exporters 4/ 24.29 58.94 4.29 35.07 26.52 -0.19 26.12 Central Asia 5/ 3.15 5.22 0.10 3.94 1.47 0.00 3.06 Afr. Fr. Zone 6/ 1.29 4.44 3/ 0.10 4.27 0.00 1.37 S. Hemis. 7/ 10.19 24.70 0.15 4.36 19.13 -0.19 11.73 Australia 4.22 5.60 3/ 0.00 5.21 -0.19 4.80 Brazil 2.97 17.00 3/ 3.26 13.02 0.00 3.70 India 9.30 24.00 3.04 25.50 1.33 0.00 9.52 Major Importers 8/ 43.92 43.41 35.91 77.80 3.01 0.00 42.42 Mexico 0.24 1.00 0.60 1.35 0.18 0.00 0.31 China 36.71 32.00 5.19 39.00 0.06 0.00 34.84 European Union 9/ 0.32 1.30 0.41 0.46 1.27 0.00 0.30 Turkey 1.40 3.95 4.46 7.10 1.43 0.00 1.28 Pakistan 1.85 5.00 6.10 10.60 0.05 0.00 2.30 Indonesia 0.40 3/ 1.98 1.95 0.02 0.00 0.41 Thailand 0.09 3/ 0.51 0.50 0.00 0.00 0.11 Bangladesh 1.71 0.15 8.05 8.20 0.00 0.00 1.71 Vietnam 1.03 3/ 7.98 8.00 0.00 0.00 1.02 2025/26 Est. World 74.83 121.95 45.05 121.13 45.58 -0.19 75.31 World Less China 39.99 86.15 37.80 79.53 45.54 -0.19 39.06 United States 4.00 13.90 3/ 1.50 12.30 -0.05 4.15 Total Foreign 70.83 108.05 45.05 119.63 33.28 -0.14 71.16 Major Exporters 4/ 26.12 59.04 6.45 36.64 29.63 -0.16 25.50 Central Asia 5/ 3.06 5.76 0.25 4.93 1.79 0.00 2.35 Afr. Fr. Zone 6/ 1.37 4.03 3/ 0.11 4.13 0.00 1.17 S. Hemis. 7/ 11.73 24.97 0.15 4.46 22.20 -0.16 10.34 Australia 4.80 4.50 3/ 0.00 5.59 -0.16 3.87 Brazil 3.70 18.75 3/ 3.35 15.50 0.00 3.60 India 9.52 23.80 5.10 26.00 1.10 0.00 11.32 Major Importers 8/ 42.42 46.11 35.87 78.54 2.60 0.02 43.24 Mexico 0.31 0.57 0.62 1.20 0.10 0.02 0.18 China 34.84 35.80 7.25 41.60 0.04 0.00 36.24 European Union 9/ 0.30 1.23 0.43 0.47 1.27 0.00 0.23 Turkey 1.28 3.05 4.73 6.80 1.10 0.00 1.15 Pakistan 2.30 5.30 4.40 9.90 0.05 0.00 2.05 Indonesia 0.41 3/ 2.12 2.05 0.02 0.00 0.46 Thailand 0.11 3/ 0.41 0.43 0.00 0.00 0.10 Bangladesh 1.71 0.15 7.20 7.40 0.00 0.00 1.67 Vietnam 1.02 3/ 8.16 8.15 0.00 0.00 1.02 ================================================================================ WASDE - 675 - 27 September 2026 World Cotton Supply and Use 1/ (Million 480-Pound Bales) ================================================================================ Supply Use Region Beginning Produc- Loss Ending Stocks tion Imports Domestic Exports 2/ Stocks ================================================================================ 2026/27 Proj. World Aug 74.80 117.63 43.80 122.92 43.82 -0.19 69.69 Sep 75.31 117.32 44.24 122.92 44.22 -0.14 69.86 World Less China Aug 38.54 84.13 36.80 80.92 43.74 -0.19 35.00 Sep 39.06 83.82 37.24 80.92 44.15 -0.14 35.19 United States Aug 4.20 13.61 0.01 1.60 12.30 -0.09 4.00 Sep 4.15 13.20 0.01 1.50 12.30 -0.04 3.60 Total Foreign Aug 70.60 104.02 43.80 121.32 31.52 -0.10 65.69 Sep 71.16 104.11 44.23 121.42 31.92 -0.10 66.26 Major Exporters 4/ Aug 25.16 57.72 4.50 37.29 28.30 -0.10 21.88 Sep 25.50 58.19 4.50 37.29 28.73 -0.10 22.27 Central Asia 5/ Aug 2.37 5.70 0.25 4.93 1.50 0.00 1.90 Sep 2.35 5.82 0.25 4.93 1.55 0.00 1.95 Afr. Fr. Zone 6/ Aug 1.17 4.20 3/ 0.11 4.14 0.00 1.13 Sep 1.17 4.30 3/ 0.11 4.32 0.00 1.04 S. Hemis. 7/ Aug 10.27 23.35 0.15 4.51 20.84 -0.10 8.52 Sep 10.34 23.60 0.15 4.51 21.04 -0.10 8.64 Australia Aug 3.76 3.00 3/ 0.00 4.50 -0.10 2.36 Sep 3.87 3.00 3/ 0.00 4.50 -0.10 2.47 Brazil Aug 3.60 18.25 0.01 3.40 15.30 0.00 3.16 Sep 3.60 18.50 0.01 3.40 15.50 0.00 3.21 India Aug 11.02 24.00 3.00 26.50 1.50 0.00 10.02 Sep 11.32 24.00 3.00 26.50 1.50 0.00 10.32 Major Importers 8/ Aug 43.13 43.36 36.50 79.48 2.02 0.00 41.48 Sep 43.24 42.98 36.91 79.58 2.02 0.00 41.52 Mexico Aug 0.18 0.65 0.65 1.20 0.10 0.00 0.18 Sep 0.18 0.67 0.65 1.20 0.10 0.00 0.20 China Aug 36.26 33.50 7.00 42.00 0.08 0.00 34.69 Sep 36.24 33.50 7.00 42.00 0.08 0.00 34.67 European Union 9/ Aug 0.23 1.25 0.43 0.46 1.17 0.00 0.28 Sep 0.23 1.25 0.43 0.46 1.17 0.00 0.28 Turkey Aug 1.08 2.70 4.80 6.80 0.60 0.00 1.18 Sep 1.15 2.40 5.00 6.80 0.60 0.00 1.15 Pakistan Aug 2.05 5.10 5.00 10.20 0.05 0.00 1.90 Sep 2.05 5.00 5.10 10.20 0.05 0.00 1.90 Indonesia Aug 0.40 3/ 2.00 2.00 0.02 0.00 0.38 Sep 0.46 3/ 2.10 2.10 0.02 0.00 0.45 Thailand Aug 0.11 3/ 0.45 0.45 0.00 0.00 0.11 Sep 0.10 3/ 0.45 0.45 0.00 0.00 0.10 Bangladesh Aug 1.67 0.15 7.40 7.60 0.00 0.00 1.62 Sep 1.67 0.15 7.40 7.60 0.00 0.00 1.62 Vietnam Aug 1.02 3/ 8.20 8.20 0.00 0.00 1.03 Sep 1.02 3/ 8.20 8.20 0.00 0.00 1.03 ================================================================================ WASDE - 675 - 28 September 2026 World Soybean Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Region Beginning Produc- Domestic Ending Stocks tion Imports Crush Total Exports Stocks ================================================================================ 2024/25 World 2/ 115.10 428.11 179.15 359.16 412.08 184.33 125.95 World Less China 71.79 407.46 71.15 255.66 284.68 184.26 81.46 United States 9.32 119.05 0.81 66.55 68.84 51.50 8.84 Total Foreign 105.78 309.07 178.34 292.62 343.24 132.84 117.11 Major Exporters 3/ 54.47 238.05 7.06 105.35 115.35 121.02 63.22 Argentina 24.05 51.11 6.32 43.24 48.94 7.87 24.67 Brazil 29.76 172.50 0.73 58.16 62.16 103.14 37.69 Paraguay 0.29 10.20 0.00 3.70 3.80 6.41 0.29 Major Importers 4/ 46.21 24.54 142.49 133.17 164.84 0.42 47.98 China 43.31 20.65 108.00 103.50 127.40 0.07 44.49 European Union 1.30 2.91 14.71 15.40 17.02 0.33 1.56 Southeast Asia 5/ 0.83 0.45 10.10 5.11 10.18 0.01 1.18 Mexico 0.61 0.28 6.43 6.65 6.74 0.00 0.59 2025/26 Est. World 2/ 125.95 429.41 187.78 374.31 430.64 187.23 125.27 World Less China 81.46 408.51 74.78 265.31 296.74 187.10 80.91 United States 8.84 115.99 0.68 72.26 75.30 41.37 8.85 Total Foreign 117.11 313.42 187.10 302.05 355.34 145.86 116.42 Major Exporters 3/ 63.22 244.20 8.23 107.90 118.96 134.30 62.39 Argentina 24.67 49.50 7.30 42.00 48.40 9.00 24.07 Brazil 37.69 180.50 0.90 62.00 66.40 115.00 37.69 Paraguay 0.29 12.10 0.02 3.80 3.91 8.20 0.30 Major Importers 4/ 47.98 24.70 147.87 139.03 172.05 0.48 48.03 China 44.49 20.90 113.00 109.00 133.90 0.13 44.36 European Union 1.56 2.85 14.00 15.00 16.57 0.33 1.52 Southeast Asia 5/ 1.18 0.41 10.97 5.73 11.19 0.01 1.36 Mexico 0.59 0.30 6.70 6.85 6.95 0.01 0.63 2026/27 Proj. World 2/ Aug 125.12 442.25 189.27 384.76 442.02 190.41 124.21 Sep 125.27 442.35 190.42 385.22 442.44 191.58 124.02 World Less China Aug 80.76 421.25 74.27 273.76 306.02 190.31 79.95 Sep 80.91 421.35 75.42 274.22 306.44 191.48 79.76 United States Aug 8.85 122.99 0.68 75.66 78.63 45.18 8.71 Sep 8.85 123.42 0.68 75.66 78.66 45.86 8.43 Total Foreign Aug 116.28 319.27 188.59 309.11 363.40 145.23 115.50 Sep 116.42 318.92 189.74 309.57 363.79 145.72 115.58 Major Exporters 3/ Aug 62.14 250.20 7.33 111.75 123.26 134.70 61.71 Sep 62.39 250.20 7.33 111.75 123.26 134.70 61.96 Argentina Aug 23.82 50.00 6.50 43.00 49.65 6.45 24.22 Sep 24.07 50.00 6.50 43.00 49.65 6.45 24.47 Brazil Aug 37.69 186.00 0.80 65.00 69.60 118.00 36.89 Sep 37.69 186.00 0.80 65.00 69.60 118.00 36.89 Paraguay Aug 0.30 11.10 0.02 3.60 3.71 7.35 0.36 Sep 0.30 11.10 0.02 3.60 3.71 7.35 0.36 Major Importers 4/ Aug 48.02 24.89 149.66 141.12 174.31 0.38 47.89 Sep 48.03 24.74 150.34 141.57 174.83 0.38 47.90 China Aug 44.36 21.00 115.00 111.00 136.00 0.10 44.26 Sep 44.36 21.00 115.00 111.00 136.00 0.10 44.26 European Union Aug 1.53 2.95 13.20 14.50 16.02 0.25 1.41 Sep 1.52 2.80 13.70 14.85 16.37 0.25 1.40 Southeast Asia 5/ Aug 1.34 0.38 11.56 6.27 11.85 0.02 1.41 Sep 1.36 0.38 11.64 6.27 11.92 0.02 1.44 Mexico Aug 0.64 0.32 6.75 6.95 7.05 0.01 0.65 Sep 0.63 0.32 6.75 6.95 7.05 0.01 0.64 ================================================================================ WASDE - 675 - 29 September 2026 World Soybean Meal Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Stocks tion Imports Domestic Exports Stocks Region Beginning Produc- Total Exports Ending ================================================================================ 2024/25 World 2/ 14.32 281.75 77.88 273.12 82.89 17.94 World Less China 13.52 199.78 77.84 192.27 81.87 17.00 United States 0.41 53.02 0.73 37.41 16.40 0.36 Total Foreign 13.91 228.74 77.15 235.72 66.49 17.58 Major Exporters 3/ 5.45 86.93 0.29 31.21 54.95 6.51 Argentina 2.26 33.51 0.28 3.53 29.78 2.74 Brazil 2.97 44.38 0.01 20.50 23.39 3.47 India 0.22 9.04 0.01 7.19 1.78 0.30 Major Importers 4/ 2.30 23.31 44.01 65.11 1.05 3.46 European Union 0.84 12.17 20.61 31.24 0.65 1.72 Mexico 0.16 5.26 2.35 7.45 0.00 0.31 Southeast Asia 5/ 1.19 3.99 19.44 22.91 0.40 1.31 China 0.79 81.97 0.05 80.85 1.02 0.94 2025/26 Est. World 2/ 17.94 292.92 83.00 288.71 85.88 19.27 World Less China 17.00 207.25 82.85 204.16 84.88 18.05 United States 0.36 57.43 0.89 39.67 18.60 0.41 Total Foreign 17.58 235.49 82.11 249.04 67.29 18.86 Major Exporters 3/ 6.51 87.81 0.41 32.53 55.25 6.95 Argentina 2.74 32.34 0.35 3.60 29.00 2.83 Brazil 3.47 47.49 0.01 21.80 25.25 3.92 India 0.30 7.98 0.05 7.13 1.00 0.20 Major Importers 4/ 3.46 23.54 46.05 68.44 0.97 3.64 European Union 1.72 11.85 20.30 31.54 0.70 1.63 Mexico 0.31 5.41 2.95 8.30 0.00 0.37 Southeast Asia 5/ 1.31 4.51 21.20 25.20 0.27 1.55 China 0.94 85.67 0.15 84.55 1.00 1.22 2026/27 Proj. World 2/ Aug 19.24 301.55 85.42 297.08 89.44 19.69 Sep 19.27 301.94 85.45 297.57 89.44 19.65 World Less China Aug 17.97 213.64 85.32 210.33 88.34 18.26 Sep 18.05 214.03 85.35 210.72 88.34 18.37 United States Aug 0.41 59.69 0.79 39.89 20.59 0.41 Sep 0.41 59.69 0.82 39.92 20.59 0.41 Total Foreign Aug 18.83 241.85 84.63 257.18 68.85 19.28 Sep 18.86 242.25 84.64 257.65 68.85 19.24 Major Exporters 3/ Aug 6.90 91.12 0.36 33.75 57.70 6.93 Sep 6.95 91.12 0.41 33.75 57.70 7.03 Argentina Aug 2.78 33.11 0.25 3.65 29.60 2.89 Sep 2.83 33.11 0.30 3.65 29.60 2.99 Brazil Aug 3.92 50.01 0.01 23.00 27.10 3.84 Sep 3.92 50.01 0.01 23.00 27.10 3.84 India Aug 0.20 8.00 0.10 7.10 1.00 0.20 Sep 0.20 8.00 0.10 7.10 1.00 0.20 Major Importers 4/ Aug 3.54 23.65 47.38 70.03 0.89 3.65 Sep 3.64 24.00 47.38 70.39 0.89 3.74 European Union Aug 1.57 11.46 20.40 31.34 0.60 1.48 Sep 1.63 11.73 20.40 31.57 0.60 1.59 Mexico Aug 0.33 5.49 3.15 8.60 0.00 0.37 Sep 0.37 5.49 3.15 8.68 0.00 0.33 Southeast Asia 5/ Aug 1.55 4.90 22.20 26.65 0.29 1.72 Sep 1.55 4.90 22.20 26.65 0.29 1.72 China Aug 1.27 87.91 0.10 86.75 1.10 1.43 Sep 1.22 87.91 0.10 86.85 1.10 1.28 ================================================================================ WASDE - 675 - 30 September 2026 World Soybean Oil Supply and Use 1/ (Million Metric Tons) ================================================================================ Supply Use Stocks tion Imports Domestic Exports Stocks Region Beginning Produc- Total Exports Ending ================================================================================ 2024/25 World 2/ 5.71 70.07 14.18 68.27 15.26 6.44 World Less China 4.55 49.97 13.89 47.77 14.94 5.69 United States 0.70 13.25 0.16 12.21 1.12 0.79 Total Foreign 5.01 56.81 14.02 56.06 14.14 5.64 Major Exporters 3/ 1.59 24.10 0.95 15.47 9.92 1.25 Argentina 0.67 8.63 0.11 1.98 7.10 0.32 Brazil 0.18 11.84 0.09 10.41 1.49 0.21 European Union 0.66 2.93 0.76 3.01 0.71 0.63 Major Importers 4/ 2.18 23.68 8.00 30.59 0.51 2.75 China 1.17 20.10 0.30 20.50 0.32 0.75 India 0.75 2.03 5.47 6.65 0.03 1.58 North Africa 5/ 0.24 1.21 1.29 2.24 0.17 0.33 2025/26 Est. World 2/ 6.44 73.36 13.50 71.97 14.82 6.51 World Less China 5.69 51.56 13.30 51.07 13.77 5.71 United States 0.79 14.05 0.20 13.77 0.44 0.83 Total Foreign 5.64 59.31 13.30 58.20 14.38 5.67 Major Exporters 3/ 1.25 24.59 1.00 15.92 9.65 1.28 Argentina 0.32 8.38 0.15 1.98 6.45 0.42 Brazil 0.21 12.64 0.10 10.95 1.80 0.20 European Union 0.63 2.85 0.75 2.91 0.75 0.57 Major Importers 4/ 2.75 25.40 7.53 31.58 1.29 2.81 China 0.75 21.80 0.20 20.90 1.05 0.80 India 1.58 1.80 5.30 7.09 0.04 1.55 North Africa 5/ 0.33 1.38 1.42 2.49 0.20 0.44 2026/27 Proj. World 2/ Aug 6.44 75.03 13.31 73.20 14.64 6.94 Sep 6.51 75.12 13.43 73.38 14.75 6.92 World Less China Aug 5.63 53.47 13.01 52.40 13.74 5.97 Sep 5.71 53.57 13.23 52.58 13.75 6.17 United States Aug 0.83 14.94 0.27 15.02 0.18 0.85 Sep 0.83 14.94 0.27 15.02 0.18 0.85 Total Foreign Aug 5.61 60.08 13.04 58.18 14.46 6.09 Sep 5.67 60.18 13.16 58.37 14.57 6.07 Major Exporters 3/ Aug 1.23 25.28 0.84 16.04 9.75 1.57 Sep 1.28 25.34 0.84 16.09 9.75 1.63 Argentina Aug 0.41 8.58 0.14 1.99 6.65 0.49 Sep 0.42 8.58 0.14 1.99 6.65 0.50 Brazil Aug 0.20 13.26 0.10 11.40 1.70 0.46 Sep 0.20 13.26 0.10 11.40 1.70 0.46 European Union Aug 0.54 2.76 0.60 2.56 0.80 0.54 Sep 0.57 2.82 0.60 2.61 0.80 0.59 Major Importers 4/ Aug 2.83 25.26 7.25 31.23 1.09 3.02 Sep 2.81 25.26 7.35 31.34 1.19 2.89 China Aug 0.81 21.56 0.30 20.80 0.90 0.97 Sep 0.80 21.56 0.20 20.80 1.00 0.75 India Aug 1.55 1.80 4.80 6.54 0.02 1.60 Sep 1.55 1.80 5.00 6.65 0.02 1.69 North Africa 5/ Aug 0.44 1.46 1.35 2.65 0.18 0.42 Sep 0.44 1.46 1.35 2.65 0.18 0.42 ================================================================================ WASDE - 675 - 31 September 2026 U.S. Quarterly Animal Product Production 1/ ================================================================================ Year Red Total Red and meat poultry meat & quarter Beef Pork 2/ Broiler Turkey 3/ poultry Egg Milk ================================================================================ Million Pounds Mil doz Bil lbs 2025 III 6360 6614 13012 12432 1275 13850 26861 2217 58.2 IV 6647 7301 13986 12118 1242 13482 27469 2248 57.8 Annual 26003 27578 53740 48006 4844 53359 107099 8765 231.7 2026 I 6148 7050 13236 12002 1231 13368 26604 2232 58.6 II 6154 6755 12944 12419 1269 13839 26783 2253 60.3 III* 6140 6620 12797 12800 1300 14250 27047 2315 59.4 IV* 6435 7345 13818 12400 1300 13835 27653 2340 58.9 AugProj. 24967 27876 52990 49623 5100 55291 108281 9109 236.6 SepProj. 24877 27771 52795 49620 5099 55292 108087 9140 237.2 2027 I* 6165 7010 13213 12150 1250 13535 26748 2300 59.3 II* 6110 6765 12913 12500 1275 13915 26828 2315 60.7 AugProj. 24980 28135 53265 49900 5125 55580 108845 9320 238.0 SepProj. 24835 28070 53055 50000 5125 55680 108735 9320 238.6 ================================================================================ U.S. Quarterly Prices for Animal Products ================================================================================ Year Barrows and Streers and gilts Broilers Turkeys Eggs Milk quarter 2/ 3/ 4/ 5/ 6/ 7/ ================================================================================ Dol./cwt Dol./cwt Cents/lb. Cents/lb. Cents/doz. Dol./cwt 2025 III 239.62 77.05 121.9 156.8 283.0 20.70 IV 227.62 64.87 110.5 172.2 192.0 19.50 Annual 224.37 68.80 124.8 135.8 373.7 21.18 2026 I 238.65 64.50 119.5 169.9 125.2 18.50 II 255.76 67.79 122.6 176.3 67.0 21.07 III* 230.00 69.00 116.0 182.0 104.0 19.70 IV* 225.00 58.00 117.0 170.0 130.0 20.40 AugProj. 245.35 65.32 119.0 170.3 110.6 19.85 SepProj. 237.35 64.82 118.8 174.6 106.6 19.90 2027 I* 235.00 61.00 120.0 140.0 120.0 20.00 II* 235.00 67.00 123.0 135.0 100.0 19.40 AugProj. 249 65 122 130 111 19.80 SepProj. 238 64 122 140 111 19.80 ================================================================================ WASDE - 675 - 32 September 2026 U.S. Meats Supply and Use ================================================================================ Disappearance Beg- Produc- Per Item inning tion Total Ending capita stocks 1/ Imports Supply Exports stocks Total 2/ 3/ ================================================================================ Million Pounds 4/ Beef 2025 602 26071 5388 32061 2579 577 28905 59.2 2026 Proj. Aug 577 25035 6132 31744 2333 565 28846 58.9 Sep 577 24945 6262 31784 2343 565 28876 59.0 2027 Proj. Aug 565 25048 6050 31663 2315 555 28793 58.7 Sep 565 24903 6050 31518 2325 575 28618 58.3 Pork 2025 435 27593 1117 29145 6972 430 21744 49.3 2026 Proj. Aug 430 27892 1174 29496 7175 445 21875 49.5 Sep 430 27787 1164 29381 7110 445 21825 49.4 2027 Proj. Aug 445 28151 1185 29781 7340 435 22006 49.7 Sep 445 28086 1165 29696 7190 435 22071 49.9 TotalRed Meat5/ 2025 1058 53833 6853 61744 9557 1024 51163 109.8 2026 Proj. Aug 1024 53084 7708 61816 9515 1027 51273 109.8 Sep 1024 52889 7790 61703 9460 1027 51216 109.7 2027 Proj. Aug 1027 53359 7630 62016 9662 1008 51346 109.8 Sep 1027 53149 7585 61761 9522 1028 51211 109.5 Broiler 2025 761 47493 152 48406 6665 786 40955 102.9 2026 Proj. Aug 786 49092 134 50013 6593 790 42629 106.8 Sep 786 49090 136 50012 6593 780 42639 106.8 2027 Proj. Aug 790 49366 132 50288 6575 790 42923 107.3 Sep 780 49465 136 50381 6500 790 43091 107.7 Turkey 2025 219 4844 38 5101 420 175 4507 13.2 2026 Proj. Aug 175 5100 37 5312 426 200 4686 13.7 Sep 175 5099 37 5311 441 190 4679 13.6 2027 Proj. Aug 200 5125 36 5361 415 190 4756 13.8 Sep 190 5125 36 5351 415 190 4746 13.8 Total Poultry6/ 2025 985 52845 193 54023 7131 973 45919 117.4 2026 Proj. Aug 973 54759 173 55905 7061 1002 47843 122.0 Sep 973 54760 176 55909 7076 982 47851 122.0 2027 Proj. Aug 1002 55045 170 56217 7034 991 48192 122.6 Sep 982 55144 174 56300 6959 991 48350 123.1 RedMeat& Poultry 2025 2043 106679 7046 115767 16688 1997 97082 227.3 2026 Proj. Aug 1997 107843 7881 117721 16576 2029 99116 231.8 Sep 1997 107649 7966 117612 16536 2009 99067 231.7 2027 Proj. Aug 2029 108404 7800 118234 16696 1999 99538 232.4 Sep 2009 108293 7759 118062 16481 2019 99561 232.6 ================================================================================ WASDE - 675 - 33 September 2026 U.S. Egg Supply and Use ================================================================================ 2024 2025 2026Proj. 2026Proj. 2027Proj. 2027Proj. Commodity Aug Sep Aug Sep ================================================================================ Million Dozen Eggs Supply BeginningStocks 23.1 14.2 17.1 17.1 22.0 22.0 Production 9076.2 8765.0 9108.7 9140.0 9320.0 9320.0 Imports 30.1 120.9 17.7 17.7 12.0 12.0 Total Supply 9129.4 8900.1 9143.5 9174.7 9354.0 9354.0 Use Exports 235.7 203.5 251.8 271.8 300.0 300.0 Hatching Use 1148.2 1163.8 1181.6 1181.1 1180.0 1180.0 Ending Stocks 14.2 17.1 22.0 22.0 22.0 22.0 Disappearance Total 7731.3 7515.8 7688.1 7699.9 7852.0 7852.0 Per Capita (number) 272.8 263.8 269.0 269.5 274.2 274.3 ================================================================================ U.S. Milk Supply and Use ================================================================================ 2024 2025 2026Proj. 2026Proj. 2027Proj. 2027Proj. Commodity Aug Sep Aug Sep ================================================================================ Billion Pounds Milk Production 225.9 231.7 236.6 237.2 238.0 238.6 Farm Use 1.0 1.0 1.0 1.0 1.0 1.0 FatBasisSupply BeginningStocks 13.8 13.1 12.6 12.6 12.5 12.8 Marketings 224.9 230.7 235.6 236.2 237.0 237.6 Imports 9.1 7.4 8.6 8.8 8.3 8.5 Total Supply 247.8 251.1 256.8 257.6 257.8 258.9 FatBasisUse Exports 11.8 16.7 20.7 20.5 21.3 20.3 Ending Stocks 13.1 12.6 12.5 12.8 12.0 12.2 Domestic Use 222.9 221.7 223.6 224.3 224.5 226.5 Skim-solidBasisSupply BeginningStocks 9.8 9.1 9.2 9.2 9.2 9.5 Marketings 224.9 230.7 235.6 236.2 237.0 237.6 Imports 6.8 6.9 6.9 6.7 7.0 6.8 Total Supply 241.5 246.6 251.7 252.1 253.2 253.9 Skim-solidBasisUse Exports 48.5 47.9 49.3 49.1 49.5 49.3 Ending Stocks 9.1 9.2 9.2 9.5 8.9 9.1 Domestic Use 183.9 189.5 193.2 193.5 194.8 195.5 ================================================================================ WASDE - 675 - 34 September 2026 U.S. Dairy Prices ================================================================================ Commod- 2024 2025 2026 Proj. 2026 Proj. 2027 Proj. 2027 Proj. ity Aug Sep Aug Sep ================================================================================ Dollars Per Pound Product Prices 1/ Cheese 1.8634 1.7878 1.575 1.570 1.665 1.645 Butter 2.8870 2.2202 1.645 1.595 1.705 1.625 Nonfat Dry Milk 1.2420 1.2348 1.605 1.670 1.470 1.550 Dry Whey 0.4913 0.5956 0.670 0.670 0.680 0.690 Milk Prices 2/ Dollars Per Cwt ClassIII 18.89 18.01 16.25 16.20 17.25 17.10 Class IV 20.75 17.38 18.15 18.55 17.20 17.55 All Milk 3/ 22.55 21.18 19.85 19.90 19.80 19.80 ================================================================================ WASDE - 675 - 35 September 2026 Reliability of September Projections 1/ ================================================================================ Differences between forecast and final estimate 90 percent Years Commodity and Root mean Confidence Below Above Region square error interval Average Smallest Largest Final Final ================================================================================ Million Metric Tons WHEAT Production World 1.9 3.2 8.6 0.9 30.7 30 15 U.S. 2.3 3.9 1.0 0.0 3.6 18 27 Foreign 2.1 3.6 8.6 0.2 30.9 33 12 Exports World 5.8 9.7 6.9 0.3 22.0 35 10 U.S. 9.7 16.4 2.3 0.0 10.0 21 24 Foreign 7.1 11.9 6.6 0.2 21.4 34 11 Domestic Use World 1.7 2.8 7.4 0.2 33.8 27 18 U.S. 7.0 11.7 1.8 0.0 5.5 15 30 Foreign 1.7 2.8 7.4 0.1 33.6 31 14 Ending Stocks World 7.7 13.0 10.1 0.3 30.5 34 11 U.S. 13.7 23.0 2.6 0.5 12.4 27 18 Foreign 8.4 14.2 8.9 0.5 28.3 34 11 COARSE GRAINS 2/ Production World 2.1 3.6 17.8 0.2 55.1 34 11 U.S. 4.0 6.7 7.7 0.2 26.0 28 17 Foreign 2.5 4.2 15.9 1.0 59.9 32 13 Exports World 6.8 11.4 7.0 0.1 25.2 32 13 U.S. 19.7 33.1 7.6 0.4 19.1 20 25 Foreign 12.8 21.6 7.9 0.7 20.9 30 15 Domestic Use World 1.6 2.6 13.1 0.4 46.2 26 19 U.S. 3.5 5.9 6.0 0.1 15.8 29 16 Foreign 1.8 3.0 11.9 0.4 40.8 29 16 Ending Stocks World 13.4 22.6 18.9 1.7 170.3 32 13 U.S. 28.9 48.7 8.9 0.1 35.8 19 26 Foreign 15.4 25.9 14.9 0.7 155.3 36 9 RICE, milled Production World 2.2 3.7 6.2 0.4 24.1 36 9 U.S. 4.1 6.9 0.2 0.0 0.5 24 20 Foreign 2.2 3.7 6.3 0.3 24.4 36 9 Exports World 9.0 15.2 2.0 0.1 7.6 32 13 U.S. 11.6 19.5 0.2 0.0 0.9 20 23 Foreign 10.1 17.0 2.0 0.1 7.9 32 13 Domestic Use World 1.7 2.9 4.2 0.4 22.7 35 10 U.S. 6.6 11.1 0.2 0.0 0.5 23 21 Foreign 1.7 2.9 4.2 0.2 23.1 35 10 Ending Stocks World 11.6 19.5 6.5 0.2 26.9 38 7 U.S. 21.7 36.6 0.2 0.0 0.9 24 21 Foreign 12.6 21.2 6.5 0.2 26.7 38 7 ================================================================================ WASDE - 675 - 36 September 2026 Reliability of September Projections (Continued) 1/ ================================================================================ Differences between forecast and final estimate 90 percent Years Commodity and Root mean Confidence Below Above Region square error interval Average Smallest Largest Final Final ================================================================================ Million Metric Tons SOYBEANS Production World 4.5 7.6 7.8 0.4 31.7 24 21 U.S. 4.8 8.1 3.0 0.2 10.4 23 22 Foreign 7.3 12.3 7.2 0.7 33.3 20 25 Exports World 7.2 12.1 4.0 0.1 19.9 29 16 U.S. 11.7 19.7 3.0 0.1 9.8 26 19 Foreign 16.9 28.4 3.8 0.0 21.8 21 24 Domestic Use World 3.2 5.4 5.1 0.0 15.3 27 18 U.S. 4.2 7.1 1.6 0.1 4.5 27 18 Foreign 3.9 6.6 4.9 0.0 16.0 27 18 Ending Stocks World 16.6 27.9 5.3 0.2 24.8 24 21 U.S. 46.6 78.5 2.4 0.1 8.2 16 29 Foreign 18.4 31.1 4.8 0.0 24.7 26 18 COTTON Production World 4.5 7.5 3.1 0.1 12.6 26 19 U.S. 6.6 11.1 0.9 0.0 2.5 21 23 Foreign 5.0 8.4 2.8 0.0 11.3 28 17 Exports World 9.4 15.9 2.5 0.0 10.1 26 19 U.S. 19.3 32.5 1.1 0.1 3.4 25 20 Foreign 12.4 20.9 2.0 0.1 8.8 24 21 Domestic Use World 4.9 8.2 3.6 0.1 19.3 18 27 U.S. 10.3 17.3 0.4 0.0 1.3 18 25 Foreign 4.9 8.3 3.5 0.0 18.5 19 25 Ending Stocks World 13.9 23.3 5.8 0.2 16.8 29 16 U.S. 38.2 64.3 1.3 0.0 5.1 19 24 Foreign 14.2 23.9 5.3 0.2 16.8 29 16 ================================================================================ WASDE - 675 - 37 September 2026 Reliability of United States September Projections 1/ ================================================================================ Differences between forecast and final estimate 90 percent Years Commodity and Root mean Confidence Below Above Region square error interval Average Smallest Largest Final Final ================================================================================ Million Bushels CORN Production 4.2 7.0 291 15 885 28 17 Exports 20.4 34.3 280 25 725 20 25 Domestic Use 3.8 6.4 237 0 575 28 16 Ending Stocks 32.2 54.1 339 2 1386 19 26 SORGHUM Production 8.5 14.2 25 0 81 19 25 Exports 38.5 64.9 43 0 150 21 23 Domestic Use 27.0 45.4 41 0 145 23 20 Ending Stocks 47.7 80.3 29 1 155 15 30 BARLEY Production 5.1 8.5 10 0 36 18 26 Exports 72.4 121.9 11 0 82 20 20 Domestic Use 10.0 16.9 21 0 72 16 27 Ending Stocks 17.5 29.5 17 0 70 22 22 OATS Production 9.5 15.9 10 0 44 9 33 Exports 90.4 152.2 1 0 8 13 14 Domestic Use 6.3 10.6 12 0 39 13 31 Ending Stocks 22.3 37.6 13 0 47 22 22 Thousand Short Tons SOYBEAN MEAL Production 4.1 6.9 1247 29 4200 31 14 Exports 13.4 22.6 861 34 4100 27 18 Domestic Use 3.5 6.0 799 26 3200 27 18 Ending Stocks 37.3 62.7 51 0 368 15 17 Million Pounds SOYBEAN OIL Production 4.3 7.2 582 26 2635 30 15 Exports 51.8 87.2 493 0 1950 25 19 Domestic Use 4.1 6.9 528 86 2150 28 17 Ending Stocks 29.0 48.8 410 55 1357 25 20 ANIMAL PROD. 3/ Million Pounds Beef 3.9 6.6 799 32 2486 31 13 Pork 2.9 4.9 426 5 1356 23 21 Broilers 2.0 3.4 517 23 1379 27 17 Turkeys 4.2 7.1 162 2 535 22 22 Million Dozen Eggs 2.5 4.3 143 4 858 25 19 Billion Pounds Milk 1.6 2.8 2.2 0.1 7.2 24 20 ================================================================================