Nebraska Farmers Face Over $30 Billion in Projected Crop Losses

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

Abygail Petersen, an economist with the Nebraska Farm Bureau, said that input prices, such as land and rental costs, fertilizer, and other operational expenses, are contributing to the financial burden. She noted that for corn, 21% of the cost is attributed to land and rental expenses, while 61% of operational costs are dedicated to fertilizer alone.

The current season average price for corn is approximately $4.20 per bushel, resulting in a loss of $167 per acre, totaling around $1.7 billion in losses for corn alone. Soybeans are facing similar pressure, with losses exceeding $700 million and an estimated $138 per acre.

Petersen emphasized that government payments can help alleviate the financial strain on farmers in the short term but stressed the need for greater certainty around year-round E-15 fuel sales and trade policy to stabilize crop prices. She predicts one or two more years of crop losses, advising Nebraska farmers to be patient until conditions improve.