Takeaway

The presenter notes the September WASDE report contained no surprises, largely aligning with trader expectations for a slightly lower 2026 corn yield and a marginally higher soybean yield. With the report viewed as a non-event, attention may turn to rising producer costs, with national on-road diesel prices hitting a record above $6/gallon, and legislative progress as the Senate resumes work on the Farm Bill.

What the presenter said

• The September WASDE report was in line with expectations and offered no surprises. [00:04]
• The 2026 corn yield was revised down to 178.5 bushels per acre, from 180.7 in August, which the presenter states was exactly what traders anticipated. [00:07]
• Total 2026 corn production is now estimated at 15.80 billion bushels, down from 16.013 billion bushels in August. [00:17]
• The 2026 soybean yield was increased slightly to 52.8 bushels per acre, up from 52.7 bushels per acre in August. [00:22]
• Total 2026 soybean production is now seen at 4.535 billion bushels, up from 4.519 billion. [00:26]
• The presenter highlights that the Senate Ag Committee will resume work on the Farm Bill. [00:38]
• The national average price for on-road diesel surpassed $6 per gallon for the first time in history, according to AAA data. [00:53]

Trade ideas

• None stated. The presenter's focus was on summarising the market view following the WASDE report.

Levels and data cited

WASDE Report (Sep 2026 vs. Aug 2026): * Corn Yield: 178.5 bpa (vs. 180.7 bpa) * Corn Production: 15.80B bu (vs. 16.013B bu) * Soybean Yield: 52.8 bpa (vs. 52.7 bpa) * Soybean Production: 4.535B bu (vs. 4.519B bu)

AAA Diesel Price Data: * National Average (On-road): Over $6.00 per gallon (this week) * National Average (On-road): Around $3.70 per gallon (a year ago)