Introduction

The USDA released its updated WASDE report on March 11, 2025. 

March adjustments to USDA’s supply and demand estimates were minimal, which is customary for this time of year. US corn, soybean, and wheat ending stocks remain unchanged for the 2023/2024 marketing year. Corn, soybean, and wheat production and yield estimates also stayed constant from February to March for the 2024/2025 marketing year. US wheat ending stocks increased by 25 million bushels (mb) to 819 mb while US corn and soybeans ending stocks remained unchanged. In the 2023/2024 marketing year, world corn ending...