Farmers across the United States are expected to remain under significant financial pressure as high production costs, persistent inflation and weak commodity prices continue to outpace returns, according to a new American Farm Bureau Federation analysis.

Farm Bureau economists project major row crop producers will face a combined $32 billion in losses in 2027, following an estimated $31 billion in losses in 2026. Specialty crop producers also continue to experience difficult market conditions after sustaining billions of dollars in losses in 2025.

According to the Farm Bureau analysis, projected losses for several major row crops are expected to deepen next year. Corn losses are forecast to increase from $131 per acre in 2026 to $167 per acre in 2027. Soybean losses are projected to rise from $80 per acre to $138 per acre, while wheat losses are expected to increase from $114 per acre to $145 per acre. Cotton losses are forecast to grow from $342 per acre to $406 per acre. Rice, sorghum, oats, barley and peanuts are also projected to remain below breakeven levels.

The report found specialty crop producers face many of the same economic challenges, including rising labor, input, compliance and capital costs. Farm Bureau examined six representative specialty crops including almonds, apples, blueberries, lettuce, potatoes and strawberries, estimating more than $7 billion in economic losses during 2025. Those crops represent about one-quarter of total specialty crop receipts. Available market data indicate conditions have not broadly improved during 2026.

Alongside the report, AFBF President Zippy Duvall urged congressional leaders to provide market relief, noting cumulative uncovered losses across the farm economy now exceed $12 billion. He said continued farm closures threaten rural communities, local economies and the nation's food security.

The federation also called for longer-term policy measures to strengthen the farm economy beyond immediate financial assistance. It identified passage of a modernized farm bill, protection of interstate commerce, expanded risk management options for specialty crop producers and year-round E15 sales as policies that could improve market demand and help reduce the risk of additional farm closures.

Source: American Farm Bureau Federation, "Farmer Losses Projected to Deepen"