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Contact:
Heidi Gant
317-692-7828 (office)
HGant@infb.org

(Indianapolis) – Aug. 12, 2025 – Indiana Farm Bureau’s Chief Economist Dr. Todd Davis is offering up his insights on the latest World Agricultural Supply and Demand Estimates (WASDE) report released earlier this afternoon by the U.S. Department of Agriculture (USDA).

“The August WASDE is the first report that combines input from farmers along with their data predictions for this year’s crop outlook,” said Davis. “Those predictions are showing a record corn crop with the largest inventory we’ve seen since 2019.”

According to Davis, the corn yield and harvested area are both higher than last year, but soybean acreage will be down slightly.

“Because of the smaller soybean crop, we’re looking at reducing ending stocks by 12% from the previous marketing year,” added Davis. “However, the notable story for soybeans is on the demand side. Soybean exports are projected to be down 9% from last year – which can be attributed to our trade relationship with China – and crush demand is projected to be up 5% because of the anticipation of more biofuels use.”

“Ultimately, profit margins continue to be squeezed, and farmers may need to use working capital or increase operating debt to meet liquidity problems.”

Read Dr. Davis’s full insights here.

The WASDE report is released monthly and provides annual forecasts for supply and use of U.S. and world wheat, rice, coarse grains, oilseeds and cotton. For more information about the report process and data, visit the USDA’s publications page.

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About Indiana Farm Bureau: For more than 100 years, Indiana Farm Bureau (INFB) has protected and enhanced the future of agriculture and our communities. As the state’s largest general farm organization, INFB works diligently to cultivate a thriving agricultural ecosystem to strengthen the viability of Indiana agriculture. Learn more at INFB.org.