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Hops, cherries and maple syrup lower or mixed; rice, corn and oilseeds see modest adjustments
Summary
NASS and the global outlook board reported lower hops acreage, sizable year-on-year declines for cherries (sweet and tart), higher maple syrup production (5.9 million gallons), and modest global adjustments to rice, corn, soy, cotton, sugar and livestock balances.
Anthony Pryleman presented NASS first forecasts for hops, cherries and maple syrup: hops acres strung for harvest at 41,600 (slightly down and the lowest since 2014 for the three-state total Idaho/Oregon/Washington); sweet cherry production forecast 311,000 tons (down ~17% year-on-year; Washington down ~23%); tart cherries forecast at about 91 million pounds (down ~36%; frost damage cited in Michigan and Utah). Maple syrup production was estimated at nearly 5.9 million gallons (up 3.1% from last season), with Vermont supplying roughly 47% (~3.1 million gallons) and New York at a record high.
Dr. Mark Jakenowski summarized smaller monthly adjustments across many other commodity balance sheets. For rice, he cited a 2-million-ton upward revision for India based on official data, with modest U.S. import and export trims that raised U.S. ending stocks. Corn adjustments reflected southern-hemisphere harvest changes (Argentina +2 mt, Brazil +3 mt, Mexico −0.7 mt) and a large India production increase affecting carry-in stocks; U.S. corn exports were raised and ethanol use trimmed slightly. Soybean changes were generally small (Argentina back-year +2 mt; small reductions in Uruguay and Russia in some forecasts). The EU rapeseed crop was described as tricky — early dryness followed by May rains — producing a small reduction in EU rapeseed output.
Mark also reported modest cotton and sugar adjustments (beet production +217,000 short tons; cane +37,000 short tons) and reviewed livestock/dairy motions: lower 2026 beef production (slower slaughter), broiler production up ~230 million pounds for 2026, and an all-milk price reduction for 2026 (about $0.55 per hundredweight) tied to product price shifts.
These observations were presented as agency forecasts and technical balance-sheet updates; NASS and the board pointed users to the published tables for the official record.
