Only Modest Adjustments for Old-, New-Crop U.S. Corn

The USDA left its 2026-27 U.S. corn outlook virtually unchanged this month, with the only supply-side change a 3 million-bu increase tied to a higher import forecast carried in from the old-crop balance sheet. In its June supply-demand update on Thursday, USDA left 2026-27 U.S. corn production unchanged at 15.995 billion bu, while all major demand categories were also steady. Feed and residual use was held at 6.1 billion bu, food, seed and industrial use at 6.955 billion, including 5.6 billion f