Nebraska Farmers Confront Deep Losses Amid Low Crop Prices and High Inflation

Nebraska farmers are facing significant losses due to high inflation, low commodity prices, and volatile production costs. According to the American Farm Bureau Association, major row crop losses are projected to exceed $31 billion in 2026.

Abygail Petersen, an economist and policy analyst with the Nebraska Farm Bureau, notes that changes in the commodity markets and significant uncertainty will affect farmers for at least the next couple of years. The USDA's current season average price for corn is approximately $4.20 per bushel, translating to a loss of $167 per acre, totaling roughly $1.7 billion in losses for corn alone.

Petersen highlights that 21% of the cost of growing corn goes towards land and rental costs, while 61% of operational costs are just fertilizer alone. Soybeans are facing similar pressure, with losses of around $138 per acre and total losses exceeding $700 million.