Continued low commodity prices raise concerns with producers as they start making decisions for the 2026 crop year. Current cash prices are below break-even levels for most producers under average yield scenarios.
Input costs are slightly higher compared to this time last year due to 5-10% increases in fertilizer prices. We have completed approximately 50% of our leases for 2026. So far, we have seen steady lease rates for 2026 on farms that had a 1-year lease in place for 2025. Leases that were in place for the last 2-3 years have seen slight adjustments downward to account for the decrease in gross farm revenue during that period.
