Scott Stiles and Hunter Biram discuss the latest September 2026 WASDE, where the balance sheet held few surprises but the price changes stood out. Scott opens with a primer on how FSA certified acreage feeds into NASS production estimates and why the numbers firm up once the summer surveys are behind us. 

The conversation then turns to yield, with drought driving USDA's corn yield cut, and to a counter-seasonal rally that led USDA to raise average farm prices for corn, soybeans, and cotton. Hunter and Scott finish with the global factors in play, from strong Chinese soybean demand to a rocky start for Brazil's planting and the smallest French corn crop in 50 years. 

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