With harvest nearly wrapped up, the numbers are in, and the story is a big crop, softer prices, and farmers watching every dollar of cost.
A large crop is pressuring prices. USDA’s October report raised its corn yield estimate to 181.2 bushels per acre, putting production at about 16 billion bushels. That would be the second-largest corn crop on record. USDA now projects a season-average corn price of $4.70, down from $4.80 a month ago. Soybean production is also forecast above expectations at 4.56 billion bushels, and soybean futures recently hit their lowest level in about seven weeks. Chinese buyers are still booking US soybeans, which gives the market some support.
Harvest is wrapping up, a little behind pace. As of October 25, about 72% of corn and 83% of soybeans were harvested, slightly behind what analysts expected after a wet September.
Equipment buying remains cautious. The Association of Equipment Manufacturers reports US tractor sales were down 16.4% in September from a year earlier, and combine sales were down 10.9%. Farmers are being selective about what they buy.
What it means for your operation. When prices soften, farm margins depend on controlling costs: fuel, labor, and time in the field. That’s where the right equipment pays off, with fewer passes, less downtime, and more acres covered per day. As we say at Summers, it’s up to you to fuel and feed the world, and it’s up to us to create efficiencies.
What we’re watching: USDA’s November 10 report, which could revise yields again, plus Chinese soybean purchases and early signals on 2027 planting plans.
Questions about your tillage or application setup heading into next season? Talk to your Summers dealer or reach out to us directly!
