(COLUMBIA, MO) — The Food and Agricultural Policy Research Institute at the University of Missouri released its 2025 U.S. Agricultural Market Outlook report. The outlook for U.S. farm finances is characterized by two competing story lines.
For producers of many crops, net returns are down sharply from recent peaks as output prices have declined more than input costs. The cattle sector, in contrast, is experiencing record prices and returns to cow-calf producers. At the same time, uncertainty surrounding domestic programs and trade policy is unusually high. Corn prices, which peaked at $6.54 a bushel in 2022-2023, are projected to average $4.23 for the crop harvested in 2025. Soybean prices reached $14.20 per bushel in 2022-2023 and are projected to drop to $10.02 a bushel in 2025-2026.
Prices for cotton, rice, sorghum, and many other crops have also declined sharply from recent peaks. Egg price volatility will continue depending on the prevalence of future HPAI disease outbreaks.
