USDA raised Brazil's corn crop and kept soybeans at 186 million tons
In the November report, Brazilian corn rose to 141 million tons. Global soybean and corn stocks were cut.
To save you time3
- What did USDA change for Brazil?
- 2026/27 corn rose from 139 to 141 million tons; soybeans stayed at 186 million, with exports of 118 million.
- And globally?
- The report cut 2026/27 global soybean and corn stocks.
- How's planting in Brazil?
- Conab showed 66.8% of soybean area and 51.2% of summer corn planted as of November 9.
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The November WASDE: the US Department of Agriculture's monthly supply and demand report, is out. For Brazil, the message was simple: more corn, same soybeans.
Brazil's numbers
- 2026/27 soybeans: 186 million tons, unchanged; exports of 118 million.
- 2026/27 corn: from 139 to 141 million tons, on more first-crop area. Exports of 43 million and domestic use of 104 million.
- 2025/26 corn revised to 144.5 million tons.
Globally
Global soybean and corn stocks were cut for 2026/27.
On the ground
Conab showed 66.8% of soybean area and 51.2% of summer corn planted as of November 9.
What it does to prices
Smaller global stocks put a floor under Chicago, even with Brazil harvesting a record. And more corn here means more feedstock for corn ethanol and feed, and more pressure on ports and railways in the first half.
