The U.S. Department of Agriculture’s 2026 annual acreage report showed that U.S. corn planting slipped to 95.343 million acres, down from 98.788 million acres in 2025, yet still above the average analyst forecast of 94.992 million acres. Corn stocks as of June 1 were reported at 5.295 billion bushels, falling short of the consensus estimate of 5.408 billion bushels, indicating tighter supply conditions.
Soybean planting was recorded at 85.365 million acres, an increase from 81.215 million acres in 2025 and exactly in line with market expectations. Wheat planting came in at 42.740 million acres, missing the average pre‑report estimate of 43.858 million acres.
Following the USDA release, Chicago Board of Trade (CBOT) corn futures (ticker ZC) rose 1.51%, while wheat futures (ZW) gained 1.31% and soybean futures (ZS) advanced 0.40%. Most corn contracts on the CBOT had reached contract lows ahead of the report, reflecting the market’s anticipation of tighter supplies.
The price moves occurred alongside a favorable start to the U.S. Midwest growing season, a strengthening U.S. dollar, and declining crude oil prices after a de‑escalation in the Iran conflict, which together exerted downward pressure on corn and soybean prices. Oil futures also fell, with Brent crude (LCO) down 0.87% and West Texas Intermediate (CL) down 1.16%.
Overall, the USDA’s lower‑than‑expected corn planting and reduced stock levels prompted a notable rally in corn futures, with spill‑over gains in wheat and soybean contracts, underscoring the sensitivity of grain markets to USDA planting and stock reports.