(Washington) The USDA released a bearish grain report at 11:00 a.m. on Monday. Grain prices plummeted following the report. Nearby corn futures dropped 17 cents to a dime for new crop corn. Soybeans fell 12 cents for January and three cents for the new crop.
Mitch Rupiper from Elite Octane in Atlantic breaks down the report.
Shayle Stewart of DTN Livestock Analyst says Monday’s WASDE report shared mostly supportive news for the cattle and beef markets for 2026.
“Beef production for 2026 was increased by 10 million pounds as carcass weights continue to grow. Quarterly steer prices are mostly increased from last month’s estimate, as steers in the first quarter are expected to average $232 (up $2 from December), steers in the second quarter are expected to average $234 (unchanged from December), steers in the third quarter are expected to average $237 (up $1 from December) and steers in the fourth quarter are expected to average $240. Beef imports for 2026 were increased by 75 million pounds, as shipments from Oceania and South America are expected to continue. Beef exports for 2026 were decreased by 60 million pounds as the price of beef remains a limiting export factor,” Stewart said.
Monday’s WASDE report shared mixed news for the hog and pork industry of 2026, Stewart said.
“Pork production for 2026 was increased by 740 million pounds, as the Quarterly Hogs and Pigs report in December shared that there are more hogs in the countryside than originally assumed. The quarterly price projections didn’t change from December, as hogs in the first quarter are anticipated to average $64, hogs in the second quarter are expected to average $70, hogs in the third quarter are expected to average $72 and hogs in the fourth quarter are expected to average $61. Pork imports for 2026 increased by 15 million pounds, and pork exports for 2026 increased by 60 million pounds.”
