farmdoc Daily

08/21/2026

The latest Illinois Production Cost Report for August 21, 2026, is out. This week's data shows a notable drop in several fertilizer prices, including a $30.50 per ton decrease for Urea and a $25.50 drop for Anhydrous Ammonia. Meanwhile, farm fuels are trending upward, with No. 2 Diesel rising by $0.54 per gallon. Click the link below to watch our full video breakdown of current costs.

In this bi-weekly Illinois Production Cost Report update for August...

08/21/2026

HOW FARMER SENTIMENT COMPARES IN THE UNITED STATES AND ARGENTINA

Despite facing similar pressures on farm finances, such as high input costs and low commodity prices, farmers in the United States and Argentina see the years ahead quite differently. This is one of the key findings from the first direct comparison of two established producer sentiment surveys: the Purdue Center for Commercial Agriculture–CME Group Ag Economy Barometer in the United States and the Austral Ag Barometer in Argentina. Argentine producers expressed a more favorable outlook for the crop sector and were more likely to expect farmland prices to increase, while livestock expectations were positive in both countries. At the same time, producers shared several concerns about farm finances, especially high input costs, low commodity prices, and weather risk.

Read more: https://farmdocdaily.illinois.edu/2026/08/how-farmer-sentiment-compares-in-the-united-states-and-argentina.html

08/20/2026

A PRE- AND POST-REPORT LOOK AT THE 2026 U.S. SOYBEAN YIELD

The USDA’s August Crop Production report, released on August 12, included the first survey-based yield forecast for soybeans of the season — pe***ng the 2026 U.S. soybean yield at 52.7 bushels per acre. This article presents an independently constructed, condition-based forecast of the 2026 U.S. soybean crop that finds soybean yield at 53.5 bushels per acre, about 0.8 bu/ac above USDA’s 52.7. The national gap between the condition-based model and USDA’s August survey is modest, though the consistently weaker fit of the soybean model relative to corn, present in all 15 directly comparable states, is a real and worth-tracking sign that soybeans carry more unresolved late-season weather risk at this point in the calendar.

Read more: https://farmdocdaily.illinois.edu/2026/08/a-pre-and-post-report-look-at-the-2026-u-s-soybean-yield.html

08/19/2026

CAPITAL PURCHASES AND MACHINERY DEPRECIATION ON ILLINOIS GRAIN FARMS

Over the past ten years, average annual capital purchases on Illinois grain farms have exceeded average annual net farm income, with government payments included in income. Generally, income from other sources has been used to fund farm-level capital purchases, much of which has been allocated to machinery. Over time, machinery purchases then have resulted in growing machinery depreciation costs on a per-acre basis. Ways of managing machinery costs exist. Most revolve around maintaining the proper level of machinery inventories relative to acres farmed. Reducing machinery depreciation, in particular, requires careful thought to machinery investment decisions.

Read more: https://farmdocdaily.illinois.edu/2026/08/capital-purchases-and-machinery-depreciation-on-illinois-grain-farms.html

08/18/2026

Recent caused some damage in east-central — seen in these photos from fields between Savoy and Monticello.

📸: Jim Baltz

08/18/2026

WHICH FSA FARM LOAN BORROWERS FILED BANKRUPTCY BETWEEN 2015-2025?

U.S. farm bankruptcy filings rose in both 2024 and 2025, reversing a trend that had been improving since a peak in 2019. Prior years of falling crop prices, higher interest rates and input costs, rising land prices and rental rates, and stress specific to certain crops and livestock sectors have all contributed to the recent increase in bankruptcy filings. The bankruptcy filings of FSA borrowers paint a picture of farm financial distress that is neither random nor evenly spread. Bankruptcies peaked and ebbed in relation to movements in farm income and government payments. Over the past decade, they have tended to cluster in specific states or regions, Wisconsin and Arkansas for example, and in specific sectors, particularly dairy, rice, cotton, and beef cattle. Bankruptcies are more likely to have a greater impact on specific types of borrowers, in particular beginning farmers and those qualifying for limited-resource programs or debt set-aside measures.

Read more: https://farmdocdaily.illinois.edu/2026/08/which-fsa-farm-loan-borrowers-filed-bankruptcy-between-2015-2025.html

08/18/2026

How are your fields looking as we head into late August? 🌽🌱 The latest USDA Crop Progress report is out, and we are seeing a massive moisture divide across the Midwest! Ohio is completely saturated with less than 1 day suitable for fieldwork, while the Dakotas are drying out. Meanwhile, Iowa is boasting 78% Good-to-Excellent crop conditions!

USDA Crop Progress and Condition update for the week ending August ...

08/17/2026

In today's Weekly Roundup Newsletter from farmdoc Daily, we explore the substantial gap in producer sentiment between and in the recent Ag Economy Barometer survey. We also examine how average of and are higher as the fall harvest season approaches compared with the past two years.

Here's a look at last week's work:

Happy Monday and thank you for joining us for another Weekly Roundup from farmdoc daily! This past week, we explored the substantial gap in producer sentiment between crop and livestock producers in the recent Ag Economy Barometer survey. We also examined how average prices of fertilizers and diesel

08/17/2026

COMPARISON OF LONG-RUN RATES OF RETURN FOR CROP AND LIVESTOCK FARMS

Average rates of return for beef, dairy, diversified, and crop farms ranged from 8.1% to 9.3% from 2007 to 2025. Variability in rates of return were lower for the beef and the diversified farms. Financial efficiency, measured using the net farm income ratio, was relatively higher for the diversified and crop farms. In summary, rates of return since 2007 have been relatively strong for both crop and livestock farms. Moreover, the structural shift in global grain markets did not seem to adversely impact one type of farm (e.g., crop farm) over another type of farm (e.g., livestock farm).

Read more: https://farmdocdaily.illinois.edu/2026/08/comparison-of-long-run-rates-of-return-for-crop-and-livestock-farms.html

08/14/2026

Don't miss your opportunity to join University of Illinois Extension, the Illinois Farm Bureau and experts — like farmdoc Daily's Jonathan Coppess and Gary Schnitkey — in Mt. Vernon on Aug. 25 for practical updates for farmers on the current agricultural environment and ways to navigate current financial challenges: