The United States Department of Agriculture (USDA) released its November World Agricultural Supply and Demand Estimates (WASDE) report on Friday 14 November.

The report placed wheat and coarse grain production up, oilseed production was down, but rapeseed production was up.

The report had a lapse in funding due to the government shutdown in the US from 1 October to 12 November and there was a note to say that information for the report was limited.

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Markets generally dropped on Friday, but moved back into the green on Monday. Here’s what the report had to say on wheat, maize and oilseeds.

Wheat

The report estimated wheat supplies up, as production was up an estimated 58m bushels to 1.985m. Global supplies for 2025/2026 are estimated to be larger with increased consumption, trade and ending stocks.

The report projected global wheat ending stocks to be up 7.4m tonnes, which it said would be the first year-to-year increase in wheat stocks since 2019/2020.

Maize/corn

Maize supply was increased in the US for 2025/2026. Maize production is forecast at 16.8b bushels. That’s a decrease of 62m bushels since September. Yield was estimated back 0.7bu/ac to 186bu/ac.

The report stated: “With supply rising more than use, corn ending stocks are up 44 million bushels to 2.2 billion. The season-average corn price received by producers is raised 10 cents to $4.00 per bushel.”

Coarse grain production, which includes maize and barley, was also estimated up globally in the report by 3.2m tonnes to 1.576m tonnes.

It stated that: “Foreign barley production is raised reflecting increases for the EU, Russia, Argentina and Ukraine that are partly offset by a cut for the United Kingdom.”

Oilseeds

Global oilseed production for 2025/2026 was lowered for the October report based on lower soybean and sunflower production. This was partly offset by increased rapeseed and cottonseed production.

Global rapeseed production is raised 1.3m tonnes based on higher production in the EU, Australia, Ukraine and the UK.