USDA announced that eligible farmers will receive additional Supplemental Disaster Relief Program (SDRP) payments in the coming weeks through Farm Service Agency (FSA) offices. The additional payments will essentially double any SDRP payments that farmers received previously. A total of about 16 billion dollars was available for the SDRP program, as part of the farm disaster assistance funds that were allocated by Congress in December of 2024. The SDRP payments were initiated to offset crop losses that producers incurred in both the 2023 and 2024 crop years. The crop losses were calculated separately for each year, so eligible farmers could potentially have received a payment for each year. USDA also announced that sign-up for the SDRP program at local FSA offices will be extended until August 12, 2026, from the current deadline of April 30, 2026.
SDRP “Stage 1” payments were paid to farmers with eligible crops that had a federal crop insurance policy in place in 2023 and 2024, or that had crops enrolled in the Noninsured Disaster Assistance Program (NAP) in 2023 and 2024. To qualify for “Stage 1”, farmers needed to have received a crop insurance indemnity payment or a NAP payment tied to a qualifying crop disaster in 2023 or 2024. Qualifying disasters include floods, wildfires, hurricanes, freezes, excessive moisture, heat, and qualifying drought. Eligibility for drought losses was restricted to farmers in counties that experienced a drought level of “D3” or higher at in 2023 or 2024, or in counties that were at a “D2” drought level for eight or more consecutive weeks, based on the weekly U.S. Drought Monitor.
Stage 2 of the SDRP program was for crop losses from similar qualifying crop disasters in 2023 and 2024 that were required for SDRP Stage 1. SDRP Stage 2 includes assistance for “uncovered” crop losses, crop “quality” losses, and “shallow” crop losses. The “uncovered” crop losses were targeted toward crops that are not covered by federal crop insurance or the NAP program. This could include certain fruit and vegetable crops, tree farms, etc. The crop “quality” losses included losses that resulted in quality discounts in a crop that were not covered by crop insurance, such as may have occurred from flooding. Forage crops that had reduced nutritional value may also be eligible for “quality” losses under Stage 2 of SDRP.
The “shallow” crop losses in Stage 2 were intended to cover did not meet the threshold requirements for Stage 1 SDRP payments. This is the category that most Midwest corn, soybean, and wheat producers fell under for potential Stage 2 SDRP eligibility. The type of eligible losses and the payment formulas and calculations for Stage 2 were different from the calculations that were used for SDRP Stage 1 payments. As a result, a very small percentage of producers were able to qualify for SDRP Stage 2 payments due to “shallow” crop losses in 2023 and 2024., which has limited the total payments that will likely be paid under SDRP Stage 2.
SDRP Stage 1 payments were determined by taking the original crop insurance projected revenue (APH yield times the Spring price for the crop) times an established factor (.95 for 80% or 85% crop insurance coverage, .925 for 75% coverage, etc.) to arrive at the SDRP crop revenue. The actual crop value (final 2024 or 2023 crop insurance yield times the RMA harvest price for 2023 or 2024) and the “net” crop insurance indemnity payment received were subtracted from the SDRP revenue total to calculate the maximum SDRP eligibility. The maximum SDRP eligibility was then multiplied by a factor of 35 percent (.35) to arrive at the net SDRP Stage 1 payment amount. The additional SDRP payment that was just announced will pay an additional 35 percent (.35) of the original calculated SDRP payment eligibility, which will be similar for any Stage 2 payments.
The SDRP payment limit is $125,000 per eligible individual or entity, which increases to $250,000 if at least 75 percent of the reported gross income on the tax returns are derived from eligible farm-related operations. There are potential higher payment limits for certain specialty crops. There will be a separate payment limit for both 2023 and 2024. The first and second SDRP payments will be combined for payment limit purposes for each year. Once farmers hit the payment limit, they are not eligible for any additional SDRP payments for that year.
Eligible farmers that have already received a SDRP payment for 2023 or 2024 do not need to sign-up or complete any additional forms at their FSA office. The additional SDRP payments will be automatically paid electronically from FSA through direct deposit methods, similar to other FSA payments. Farmers that have not completed SDRP Stage 2 applications will still need to complete the appropriate forms and apply at their FSA office by August 12. USDA has a very comprehensive SDRP website available on SDRP payments and application procedures at: https://www.fsa.usda.gov/resources/programs/supplemental-disaster-relief-program-sdrp
 
SDRP Payment Distribution
The USDA SDRP website “dashboard” lists the approved SDRP Stage 1 applications and the total payment amount for the U.S., as well as the approved applications and payment amount for each State. The “dashboard” also lists the total SDRP amounts paid out for each eligible commodity. Based on the SDRP “dashboard” data, as of April 27, 2026, a total of just over $6.7 billion had been paid in total SDRP Stage 1 payments in the U.S. for 473,214 approved applications, which results in an average of $14,165 per approved application. Of the total SDRP payments, just under $2.5 billion has been paid for corn, just under $1.6 billion for soybeans, along with approximately $798 million for wheat, $541 million for cotton, $161 million for sorghum, and just over $80 million for both peanuts and rice., with lesser amounts for all other eligible crops.
Following are the top 10 States in total SDRP Stage 1 payments received, along with the number of the approved applications and the average payment per application:
1. Minnesota = $726.5 million paid; 48,091 approved applications; $15,106 per application.
2. Kansas = $708.4 million paid; 75,443 approved applications; $9,391 per application
3. Texas = $629.5 million paid; 44,133 approved applications; $14,265 per application
4. Iowa = $598.4 million paid; 52,397 approved applications; $11,421 per application
5. Nebraska = $511.1 million paid; 53,337 approved applications; $9,582 per application
6. South Dakota = $337.4 million paid; 28,335 approved applications; $11,908 per application
7. North Dakota = $333.3 million paid; 24,077 approved applications; $13,841 per application
8. Illinois = $262.1 million paid; 30,819 approved applications; $8,505 per application
9. Missouri = $186.5 million paid; 20,509 approved applications; $9,094 per application
10. California = $185.2 million paid; 5,936 approved applications; $31,192 per application
The SDRP payment amounts for each State will now be essentially doubled. There was no “dashboard” data available for SDRP Stage 2 payments; however, the total Stage 2 payments will be much lower than Stage 1.
 
Summary of the Additional SDRP Payments
On the surface, it appears that there is a wide disparity among States in the total amount of SDRP Stage 1 payments, approved SDRP applications, and the SDRP payment per application; however it is important to remember that these payments were based on average crop yields and national average crop prices in 2023 and 2024, States that had higher crop yields in those years likely had higher levels of farm revenue from crop production. For example, Minnesota had an average corn yield of 174 bushels per acre in 2024, compared to 217 bushels per acre in Illinois., with a 2024 national average corn price of $4.24 per bushel. This would result in a 2024 average gross revenue for corn of $738 per acre in Minnesota, compared to $920 per acre in Illinois, or an advantage of $182 per acre in Illinois. There was also a corn revenue advantage of $95 per acre in Illinois for 2023, compared to Minnesota. Based on average 2023 and 2024 corn acreage in each State, and the doubling of the SDRP payments, Minnesota farmers will receive a total of about $91 per acre in SDRP payments, compared to $24 per acre for Illinois farmers, or an advantage of $67 per acre total for Minnesota farmers for both years.
For additional information contact Kent Thiesse, Farm Management Analyst Phone --- (507) 381-7960; E-mail --- [email protected]

Like the start of a big NASCAR race or the beginning of a Championship game, farmers in portions of the Upper Midwest began full-scale field work during the week of April 13-19. Farm operators in many portions of the western Corn Belt have reported almost ideal soil conditions for planting; however, rainfall and wet soil conditions during the first half of April has delayed the initiation of major fieldwork in some areas of Iowa and Southern Minnesota. It appears that the 2026 planting season may be similar to last year in much of the Upper Midwest, with fairly favorable corn and soybean planting conditions in the last half of April. Having favorable weather and planting conditions in April is important for getting the corn and soybean crop off to a good start. 
Some areas of the Midwest received some much-needed precipitation in late March and early April, including additional rainfall this past week in some areas. Much of eastern Iowa, southeast Minnesota, and southern Wisconsin has received 2-3 inches of precipitation in the past few weeks, with even higher amounts in localized areas, which has delayed planting progress in these areas. Other areas of southern Minnesota, northern and central Iowa, and eastern South Dakota received more moderate amounts of rainfall. Precipitation amounts have been significantly less in much of the Western Corn Belt, where fieldwork progress is more advanced. 
The recent precipitation followed extremely dry conditions during most of the Winter and in much of March. This continued a dryness pattern across the western Corn Belt has existed since last Fall. In the latest USDA weekly crop report, the percentage of topsoil moisture in various States that was listed as “short” or “very short” included: Nebraska at 79%, Kansas at 60%, and South Dakota at 54%. In other Corn Belt States, Illinois was at 26%, Indiana at 25%, and Minnesota at 22%, with Iowa at 14% in the lower moisture categories. Ohio, Wisconsin, and North Dakota were all at less than 10 %. The levels of top soil moisture are below normal for early in the growing season in most areas of the Western Corn Belt and Plains States. 
Many areas of the Western Midwest and Plains States have remained quite dry in recent weeks. The most recent U.S. Drought Monitor released on April 16 showed that nearly all of Nebraska and the south half of South Dakota were in “severe” to “extreme” drought. Northwest Iowa southern Illinois, southwest and northeast Minnesota, northwest Wisconsin, and much of Kansas were also listed in the “severe” drought category. Portions of central Illinois and Indiana, along with northwest Minnesota, were listed as “abnormally dry”. Most other areas of the Upper Midwest did not register a reading in the latest “U.S. Drought Monitor. 
Soil temperatures during early April have been quite variable in many areas of the Upper Midwest. At the University of Minnesota Research and Outreach Center near Waseca in Southern Minnesota, the 24-hour average soil temperature during the first week of April was near 40 degrees Fahrenheit at the 4-inch level; however, those soil temperatures warmed up to near 55 degrees by April 15, which is a desirable soil temperature for good corn planting and seed germination conditions. Soil temperatures in the Upper Midwest cooled again by April 18, but warmer temperatures are expected in late April. Farmers and agronomists tend to pay close attention to soil temperatures early in the growing season; however, soil temperatures become less of a concern by late April, when date of planting becomes more of a priority. Research has shown that soil conditions at the time of planting may be more critical than soil temperature for getting good germination and early season corn growth. 
Research shows that 50 percent corn emergence will occur in about 20 days at an average soil temperature of 50 degrees Fahrenheit, which is reduced to only 10 days with an average soil temperature of 60 degrees F. The likely enhancement in soil temperatures certainly provides optimism to have favorable conditions for corn germination and seedling growth. The warmer soil temperatures are also favorable for the initiation of soybean planting, which also occurs in late April and May in many areas. Every year is different, and agronomists encourage producers to adjust to soil conditions and weather forecasts when making corn and soybean planting decisions. 
Unless conditions turn very wet in the next few weeks, a large majority of corn in Minnesota could easily be planted before the end of April or early May this year. Corn planting delays can significantly impact final corn yields. In both 2018 and 2019 a majority of the corn was planted from mid-May until early June. According to the USDA Weekly Planting Progress Report, only 2 percent of the corn in Minnesota had been planted at the end of April in 2019, which was about 15 days behind normal. Minnesota’s corn yield declined from record yield levels in 2015, 2016 and 2017 to 182 bushels per acre in 2018 and only 174 bushels per acre in 2019. In 2023, only 5 percent of the corn was planted by May 1 and the final statewide corn yield of 185 bushels per acre. 
Historically, early planting of corn usually leads to higher-than-normal state average corn yields in Minnesota and other Upper Midwest States. In several years when 50 percent or more of the corn acres in Minnesota have been planted in April or the first week of May, the State has usually set or been near a record corn yield. In 2015, corn planting in Minnesota was 83 percent completed by May 3, resulting in a record yield of 188 bushels per acre, which was followed with 89 percent of the corn planted by May 8 in 2016, again resulting in another record statewide corn yield of 193 bushels per acre. In 2020, when 76 percent of the corn was planted by May 3, the statewide corn yield was 192 bushels per acre, just short of the statewide record corn yield. One exception was in 2017, when most of Minnesota’s corn was planted in the first two weeks of May; however, very favorable growing conditions throughout the year in most areas resulted in a statewide record corn yield that year. 
The record corn yields of 201 bushels per acre in 2025 and 195 bushels per acre in 2022 were somewhat exceptions to the trend of April planting, as Minnesota did not achieve 50 percent of the corn planted until after May 10. It should be noted that a much higher percent of the corn in Southern Minnesota had been planted by May 10 in both of those years, and the counties in the southern third of the State were largely responsible for the record statewide corn yields. In addition, both of those years featured very favorable growing conditions following planting. Another exception was in 2021 when 71 percent of the statewide corn acreage was planted by May 3; however, the 2021 average corn yield in Minnesota was only 178 bushels per acre due to drought conditions in many portions of the State that reduced yields. In areas of the State that received adequate rainfall, the 2021 corn yields were above average to near record levels. 
Traditionally, once farmers have completed planting their corn acres, they move directly into soybean planting; however, in recent years some farmers have went to earlier soybean planting in April. Similar to earlier corn planting dates, research does show that with favorable growing conditions there is a yield advantage to planting soybeans in April or early May, as opposed to planting in late May. A majority of soybean producers in the Upper Midwest strive to plant soybeans in late April and early May; however, the ideal window to plant soybeans and still achieve optimum yields is much wider than with corn. Farmers in many areas have planted soybeans in late May, and even early June, and achieved favorable yield results. 
With the addition of the recent rainfall, soil conditions have been described as “almost ideal” for Spring planting by farm operators and agronomists in many areas the Upper Midwest. Significant amounts of precipitation have slowed planting progress in some areas; however, most crop producers in the region should be able to begin full-scale corn planting once soil conditions are fit. The recent precipitation should also provide adequate topsoil moisture for good corn germination and emergence in most of this region; however some rainfall may be needed in the western Corn Belt. Periodic moderate rainfalls during planting season can be beneficial for good seed germination and early season plant growth. 
For additional information contact Kent Thiesse, Farm Management Analyst Phone - (507) 381-7960; E-mail - [email protected] 

The April 9 USDA World Supply and Demand Estimates (WASDE) report did not include any significant changes to supply or demand, compared other recent WASDE reports. The 2025-26 projected ending stocks in the April report for corn and soybeans remained the same as the estimates a month earlier, while the wheat ending stocks were increased slightly. The expected 2025-26 market year average (MYA) prices for corn, soybeans and wheat were all increased slightly from the March price projections. This is important because it lowers the estimates for the potential 2025 PLC and ARC-CO payments, which will be paid in October of 2026. These payments are very important this year for cash flow planning purposes. 
CORN
The latest WASDE report estimates the 2025-2026 U.S. corn ending stocks at 2.13 billion bushels, which would be an increase 37 percent from a year earlier. The 2025-26 corn ending stocks compare to a carry-out levels of 1.55 billion bushels in 2024-25, 1.76 billion bushels in 2023-24, 1.36 billion bushels in 2022-23 and 1.38 bushels in 2021-22. The corn stocks-to-use ratio for 2025-26 is estimated at 12.9 percent, which compares to ratios of 10.2 percent in 2024-25, 11.8 percent in 2023-24, 9.9 percent in 2022-23 and 9.2 percent in 2021-22. The current stocks-to-use ratio is still below the high corn stocks-to-use ratios of 14.6 percent for 2018-19, and 14.5 percent in 2017-18. The rather high projected carryout level could limit potential for significant rallies in the cash corn market in the coming months, especially if there are favorable weather conditions in the 2026 growing season. 
USDA is currently estimating the U.S market year average (MYA) corn price for the 2025-2026 marketing year at $4.15 per bushel, which is an increase of $.05 per bushel the March estimate. The projected 2025-26 MYA price compares to recent national average prices of $4.24 per bushel in 2024-25, $4.55 per bushel in 2023-24, $6.54 per bushel in 2022-23, and $6.00 per bushel for 2021-22. The 2025-2026 MYA price estimate for corn and soybeans is the expected average farm-level price from September 1, 2025, through August 31, 2026; however, this does not represent the average price for either the 2025 or the 2026 calendar year. 
SOYBEANS
Soybean ending stocks for the 2025-26 marketing year in the latest WASDE report are estimated at 350 million bushels. The projected 2025-26 carryout level compares to ending stocks of 325 million bushels in 2024-25, 342 million bushels in 2023-24, 264 million bushels in 2022-23, and 274 million bushels for 2021-22. The projected soybean ending stocks for the current year would be highest in the past five years, but would still be considerably lower than the high carryout level of 913 million bushes in 2018-19, which existed during the last U.S. trade war with China. The soybean stocks-to-use ratio for 2025-26 is now estimated at 8.2 percent, which compares to ratios of 7.3 percent in 2024-25, 8.3 percent in 2023-24, and 6.1 percent in both 2022-23 and 2021-22. The projected 2025-26 ratio is still well below the very high soybean stocks-to-use ratios of 23 percent for 2018-19. There has been some improvement in soybean prices in recent weeks; however, further price enhancements will likely be dependent on future crush and export levels, along with 2026 growing conditions in the U.S. 
USDA is projecting the U.S. average farm-level soybean price for the 2025-2026 marketing year at $10.30 per bushel, which is an increase of $.10 per bushel from the March estimate. The estimated 2025-26 market year average soybean price is above the final MYA price of $10,00 per bushel in 2024-25, which was the lowest average price since the 2020-21 marketing year. The 2025-26 price estimate compares to other recent average soybean prices of $12.40 per bushel in 2023-24, $14.20 per bushel in 2022-23, $13.30 per bushel in 2021-22, $10.80 per bushel in 2020-21, and the very low MYA price of $8.57 per bushel for 2019-20. Average cash soybean prices at local grain elevators in Southern Minnesota were $9.70 per bushel in mid-January, but were near $10.75 per bushel at the time of the April WASDE report. Prices at soybean processing plants were somewhat higher. 
WHEAT
The April WASDE report estimated the U.S. wheat ending stocks for 2025-26 at 938 million bushels, which is an increase of 33.7 percent in the past two years. The projected 2025-26 wheat carryout level compares to 855 million bushels in 2024-25, 696 million bushels in 2023-24, and 570 million bushels in 2022-23. The 2025-26 farm-level average wheat price is now projected at $5.00 per bushel, which is an increase of $.05 per bushel from the March estimated price. The 2025-26 wheat price estimate compares to other recent MYA price levels of $5.52 per bushel in 2024-25, $6.96 per bushel in 2023-24, $8.83 in 2022-23, $7.63 per bushel in 2021-22, and $5.05 per bushel in 2020-21. The 2025-26 MYA price for wheat and other small grains is the average farm-level price in the U.S. from June 1, 2025 until May 31, 2026. 
2025 PLC or ARC-CO Payments Are Reduced 
The final 2025 MYA prices for corn, soybeans, and wheat are used to determine any potential Price Loss Coverage (PLC) or Ag Risk Coverage (ARC-CO) payments for the 2025 crop year. If the MYA price for a crop is lower than the established reference price, there would a PLC payment. The potential ARC-CO payments are based on the MYA price and the final 2025 county average yield, compared to the benchmark (BM) price and county benchmark yield for 2025. For the 2025 crop year only, eligible producers will get the higher of any potential PLC or ARC-CO payments for corn, soybeans, wheat, and other program crops, with payments to be paid in October, 2026. For information on benchmark yields, prices and revenues, and other farm program information, producers should access the USDA ARC-PLC web site at: www.fsa.usda.gov/arc-plc. 
Following is a brief summary of potential 2025 PLC and ARC-CO payments: 
CORN - The 2025 PLC corn reference price is $4.42 per bushel, and the 2025 benchmark price for ARC-CO payments is $5.03 per bushel. Based on the April WASDE report, the estimated 2025 market year average (MYA) corn price is $4.15 per bushel. This is $.27 per bushel below the threshold for 2025 corn PLC payments and is $.88 below the 2025 benchmark price. At a final MYA price of $4.15 per bushel, the estimated 2025 PLC payment would be $30 to $40 per corn base acre, depending on the farm program yield. If the MYA price increases to $4.25 per bushel, the PLC payment estimate would drop to about $20 to $30 per base acre; however, if the MYA price declines to $4.05 per bushel, the PLC estimate would increase to about $40 to $50 per base acre. At the current 2025 MYA price, potential 2025 ARC-CO payments would be initiated with a final 2025 county average corn yield that is about 5-10 percent above the 2025 county benchmark yield. The final 2025 ARC-CO payments will depend on specific county benchmark yields, as well as the final 2025 county average yields. 
SOYBEANS - The 2025 PLC soybean reference price is $10.71 per bushel, and the 2025 soybean benchmark price for ARC-CO payments is $12.17 per bushel. Based on the April WASDE report, the estimated 2025 MYA soybean price is $10.30 per bushel. This is $.41 per bushel below the threshold for 2025 PLC payments and is $1.87 below the 2025 benchmark price. At a final MYA price of $10.30 per bushel, the estimated 2025 PLC payment would be $10 to $20 per soybean base acre. At the current MYA price estimate, 2025 ARC-CO payments would be initiated with a final 2025 county average soybean yield that is about 5 percent above the 2025 county benchmark yield. Similar to corn, final 2025 ARC-CO and PLC payments will vary depending on the final 2025 county yields and benchmark yields (ARC-CO), and on the established farm program yields (PLC). 
WHEAT - The 2025 PLC wheat reference price is $6.35 per bushel, and the 2025 wheat benchmark price for ARC-CO payments is $6.98 per bushel. Based on the April WASDE report, the estimated 2025 MYA wheat price is $5.00 per bushel. This is $1.35 per bushel under the threshold for 2025 wheat PLC payments and is $1.98 below the 2025 benchmark price. At a final MYA price of $5.00 per bushel, the estimated PLC payment would be about $40 to $50 per base ace. At the current MYA price estimate, the 2025 ARC-CO payments would be initiated with a 2025 county wheat yield that is about 25 percent above the 2025 county benchmark yield. It appears highly likely that there will be both a significant PLC or ARC-CO payment on wheat base acres for the 2025 crop year. 
For additional information contact Kent Thiesse, Farm Management Analyst Phone --- (507) 381-7960; E-mail --- [email protected]

The USDA “Prospective Plantings Report” that was released on March 31st projected a 3.4 percent decrease in 2026 U.S. corn acreage compared to a year ago, along with a 4.3 percent increase in 2026 soybean acreage from a year earlier. The USDA planting intentions numbers came in slightly higher than the grain trade expected for corn acreage and slightly lower than trade estimates for soybean acreage. The USDA “Quarterly Grain Stocks Report” was also released on March 31st, which lists the estimated U.S. grain inventory as of March 1, 2026, for both “on-farm” and commercial grain storage. The USDA estimates for U.S. corn and soybean inventories came in near the average stocks estimates of the grain traders. 
The USDA prospective planting acreage is based on survey data collected from about 73,800 surveys sent to crop producers in early March. Total U.S. crop acreage was listed at 223.8 million acres expected to be planted to corn, soybeans, and wheat in 2026, which down from 225.3 million acres in 2025, but is similar to total 2024 crop acreage. The USDA estimates for intended 2026 U.S. corn and soybean acreage was viewed as mainly “nuetral” for “new crop” corn and soybean futures prices on the Chicago Board of Trade (CBOT). After the USDA planting intentions report was released on March 31, December 2026 both CBOT December corn and November soybean futures closed up slightly. 
Typically, these late March USDA Reports are very critical to farm operators and grain traders due to their impact on grain market prices in the Spring and early Summer months. During these months, many farm operators usually sell any remaining grain inventories from the previous growing season, as well as look for opportunities to forward price a portion of the anticipated crop for the current year. In a majority of years, corn and soybean prices usually reach their “peak-price” during the period from April until June, which is why these reports are so important. 
Highlights from the March 31st USDA Planting Intentions Report: 
CORN - The planting intentions report indicated that just over 95.3 million acres of corn are expected to be  planted in the U.S. in 2026, which is a decrease of 3.5 million acres from the 2025 corn acreage of  98.8 million acres. The 2026 U.S. corn acreage would still be above the 2024 corn acreage of 90.9 million acres and the 2023 acreage of 94.6 million acres. The 2025 U.S. corn acreage was the highest in nine decades. The current USDA corn acreage estimate was about 967,000 acres above the grain trade estimates. Based on the USDA report, 2026 planted corn acreage is likely to decrease in most of the major corn production States. Following is the estimated 2026 corn acreage and the expected decrease from 2025: Iowa at 13.1 million acres (-3%); Illinois at 10.9 million acres (-3%); Nebraska 
at 10.3 million acres (-4%); Minnesota at 8.6 million acres (-3%); South Dakota at 6.3 million acres  (-8%); North Dakota at 4.4 million acres (-6%); Missouri at 3.65 million acres (-4%); and Wisconsin at 3.7 million acres (-11%). Indiana at 5.4 million acres and Ohio at 3.4 million acres expected in 2026 were the same as the final 2025 corn acreage. Kansas at 7.1 million acres was the only major corn producing State with an expected increase in 2026 corn acres (+4%). 
SOYBEANS - Based on the estimates in the March 31st Planting Intentions Report, U.S. soybean acreage in 2026 is projected at 84.7 million acres, which represents an increase of 3.5 million acres from a year ago. The 2026 U.S. soybean acreage estimate compares to 81.2 million acres in 2025, 87.2 million acres in 2024, 83.6 million acres in 2023, 87.4 million, acres in 2022, and the record 90.2 million acres in 2017. The highest increase in the estimated 2026 soybean acreage compared to 2025 was in South Dakota with an expected increase of 500,000 acres, followed by Iowa with an increase of 450,000 acres, and Nebraska with an increase of 350,000 acres, along with increases of 300,000 acres in Kansas, 200,000 acres in Illinois, 170,000 acres in Wisconsin, 150,000 acres in Minnesota and North Dakota, and 50,000 acres in Indiana. Ohio and Missouri were the only major producing States to show a slight decrease in anticipated soybean acreage for 2026 (-100,000 acres each). 
WHEAT- The intended U.S. wheat acreage for 2026 is estimated at 43.8 million acres, down 3 percent from 45.3 million acres in 2025, 46.1 million acres in 2024 and 49.6 million acres in 2023. Spring wheat acreage for 2026 was estimated at about 9.4 million acres, which is down 6 percent from nearly 10 million acres a year ago. 2026 Spring wheat acres are expected to decrease by 10 percent in Minnesota, 8 percent in North Dakota, and 4 percent in South Dakota, compared to 2025 acreage. 
Highlights from the March 31st USDA Grain Stocks Report: 
CORN - The total U.S. corn stocks on March 1, 2026, were listed at just over 9.02 billion bushels, which is an increase of 9.7 percent from a year earlier, and was slightly below the average grain trade estimate. The report indicated that farmers were holding 5.43 bushels of corn inventory in on-farm storage, which represents about 61 percent of the total corn stocks, and is up 21 percent from a year ago. One positive in the USDA grain stocks report was that the implied corn usage from December, 2025 through February, 2026 was 4.28 billion bushels, which was up about 8.4 percent compared to the same quarter a year ago. The improved corn usage numbers are a reflection of strong corn demand for ethanol production and solid corn export levels. The overall corn stocks level remains relatively high, which may limit potential for significant price rallies for the 2025 unpriced corn that is still in storage. 
SOYBEANS - Soybean stocks on March 1, 2026, were listed at just over 2.10 billion bushels, which is up 9.2 percent from a year ago, and was comparable to the pre-report estimates by grain trade analysts. Just over 1.2 billion bushels, or 58 percent of the total soybean stocks, were held in on-farm storage. The total U.S. soybean usage from December, 2025 through February, 2026 was estimated at 1.18 billion bushels, which was nearly the same as a year earlier. Soybean usage  numbers have been bolstered by improved soybean crush numbers; however, that has been offset by lower levels of soybean exports. There has been more optimism in the soybean export market in recent months, which has resulted in some improvement in the soybean prices in recent weeks. 
WHEAT- Total wheat stocks on March 1, 2026, were listed at about 1.3 billion bushels, which is up approximately 4.9 percent from March 1, 2025. This was the third year in a row that the level of wheat stocks have shown an increase on a year-over-year basis. The implied U.S. wheat usage in the past quarter was 4.28 million bushels, which was up about 10.4 percent from the same quarter a year ago. The stronger wheat usage numbers, together with the anticipated lower wheat acreage in 2026, has created some optimism for improved wheat prices in the coming months. 
Corn market prices on the Chicago Board of Trade (CBOT) did not show much movement in either direction following the release of the USDA reports. Nearby CBOT corn futures closed at $4.58 per bushel on March 31, which compares to $4.57 per bushel in 2025, $4.42 per bushel in 2024 and $6.60 per bushel in 2023. New crop CBOT December corn futures on March 31 closed at $4.82 per bushel, compared to $4.42 per bushel in 2025, $4.76 per bushel in 2024 and $5.66 per bushel in 2023. Nearby CBOT soybean futures closed at $11.71 per bushel following the USDA report on March 31, compared to $10.15 per bushel in 2025, $11.91 per bushel in 2024 and $15.05 per bushel in 2023. New crop CBOT November futures closed at $11.57 per bushel on March 31, compared to $10.19 per bushel in 2025, $11.86 per bushel in 2024 and $13.20 per bushel in 2023. 
The March 31st USDA report was based on producer surveys of planting intentions in early March; however, there is potential for these planting expectations to be adjusted slightly when final crop planting numbers are released later this year. The war in Iran began at the end of February, and most of the impacts on fertilizer supplies and prices have taken place since the survey data was collected. These impacts may cause some changes in final crop acres in some portions of the U.S. In the 2025 Planting Intentions Report, USDA estimated total corn acreage at 95.3 million acres on March 31; however, the final 2025 corn acreage was 98.8 million acres, or an increase of 3.5 million acres. 
For additional information contact Kent Thiesse, Farm Management Analyst, Green Solutions Group Phone --- (507) 381-7960; E-mail --- [email protected]

Due to the high cost of investment in farm machinery, an ever-increasing number of farm operations are hiring other farm operators to provide some or all of their machinery resources for their farm operation. This is especially true with new and younger farm operators, as well as with children that decide to start farming with their parents. In addition, some land investors are choosing to operate a farm themselves rather than cash renting the land to someone else, thus hiring another farm operator under a custom farming agreement for farming practices.
Custom farming agreements usually include tillage, planting, some weed control, harvesting, and delivering grain to a specified location. Some farm operators also hire custom work for specific farm operations with another farm operator, such as planting, combining, or tillage. Many farm operators negotiate these types of custom rate and custom farming arrangements prior to planting each year, while others wait until harvest is completed.
One of the best resources for average custom rates is the annual “Iowa Farm Custom Rate Survey” that is coordinated and analyzed by Iowa State University. Earlier this year, 205 custom operators and farm managers responded to the 2026 survey, submitting nearly 4,700 expected custom farm rates for various farm operations in 2026. The survey summary lists the “average” and “median” custom rate, as well as a range, for various tillage, planting, fertilizer and chemical application, grain harvesting, and forage harvesting functions on the farm. The “median” rate, which is most commonly used in custom rate negotiations, means that half of the reported rates were higher and half were lower than the listed rate. The survey also includes custom farming rates for corn and soybeans, as well as many miscellaneous farming practices, average per hour farm labor rates, and includes a formula for calculating rental rates. The average custom rates for farm operations in most areas of the Upper Midwest tend to be very close to the Iowa rates.
Average 2026 farm custom rates for some typical tillage, planting, and harvesting practices, as well as custom farming rates, are listed in the adjoining Table. The complete 2026 “Iowa Farm Custom Rate Survey” for all farming practices is available on-line at the following Iowa State University web site: https://www.extension.iastate.edu/agdm/crops/html/a3-10.html
Based on the survey, the average custom rates for harvest operations in 2026 were expected to increase by nearly 6 5 percent, compared to the rates in 2025, while average custom rates for tillage, planting, and other pre-harvest operations are expected to increase by about 8.5 percent. The 2026 custom farming rates for corn and soybean production are expected to increase slightly compared to a year earlier, following an increase of nearly 20 percent in recent years. The cost for new and used machinery increased in 2025, along with continued high repair costs, labor charges, and interest rates. It should be noted that custom rate survey was completed prior to the initiation of the conflict in Iran, which may result in custom operators adjusting their final custom rates by year-end, in order to more fully reflect any changes in fuel costs and other expenses for custom operations.
All listed custom rates in the Iowa Survey results include fuel, labor, repairs, depreciation, insurance, and interest, unless listed as rental rates or otherwise specified. The average price for diesel fuel was assumed to be $2.89 per gallon. A fuel price increase of $.50 per gallon would likely cause most custom rates to increase by approximately five percent. These average or median rates are only meant to be a guide for custom rates, as actual custom rates charged may vary depending on changes in fuel costs, availability of custom operators, timeliness, field size, etc. There are also many other specific situations among farmers and family members that share farm machinery that could also lead to adjustments in final custom rates.
Note --- For additional information contact Kent Thiesse, Farm Management Analyst, Green Solutions Phone --- (507) 381-7960; E-mail --- [email protected]
 
SELECTED 2026 FARM CUSTOM RATES
Following are the “Median” custom rates for some common farming practices for 2026, as well as the (range) of custom rates listed, based on the “Iowa Farm Custom Rate Survey” ……
Note --- “Median” means that half of the reported rates were higher, and half were lower than the listed rate.
Custom Farming Rates (includes tillage, planting and harvesting costs):
· Corn ------------ $165.00 per acre (Range = $75 - $375 per acre)
· Soybeans ------- $155.00 per acre (Range = $65- $353 per acre)
· Small Grain ---- $167.00 per acre (Range = $70 - $290 per acre)
Tillage:
· Moldboard Plow ---------- $21.00 per acre ($14 - $24 per acre)
· Disk/Chisel ---------------- $23.00 per acre ($10 - $34 per acre)
· V-Ripper (deep tillage) --- $27.25 per acre ($15 - $40 per acre)
· Field Cultivator ------------ $19.00 per acre ($7.60 - $32 per acre)
· Tandem Disk --------------- $20.00 per acre ($10 - $30 per acre)
· Strip Tillage ---------------- $23.50 per acre ($15 - $30 per acre) (add $6/A. for anhydrous application)
· Chopping Cornstalks ----- $15 per acre ($8 - $20 per acre)
Planting and Spraying:
· Planter With Attachments ------- $27.50 per acre ($16 - $50 per acre)
· Planter Without Attachments --- $26 per acre ($15 - $38 per acre)
· No-Till Planter -------------------- $28.30 per acre ($15 - $46 per acre)
· Soybean Drill --------------------- $21.00 per acre ($14 - $28 per acre) ($25 per acre for no-till drilling)
· Cover Crop Drill ------------------ $19.25 per acre ($9 - $25 per acre)
· Crop Spraying (broadcast) ------- $10.50 per acre ($6 - $20 per acre) (self-propelled sprayer)
Harvesting Grain:
· Corn Combine ------------------ $45.00 per acre ($25 - $80 per acre) ($75/A. or more with grain cart and truck)
$50.00 per acre (with chopper head) (add $11/A. for downed corn)
· Soybean Combine -------------- $42.00 per acre ($24 - $70 per acre) ($70/A. or more with grain cart and truck)
$45.50 per acre with draper head) (add $4/A. for GPS mapping)
· Small Grain Combine ---------- $45.00 per acre ($35 - $65 per acre)
· Corn Grain Cart (in field) ------- $8.75 per acre ($3 - $22 per acre)
· Soybean Grain Cart (in field) --- $8.00 per acre ($2 - $19 per acre)
· Hauling Grain (5 mi. or less) --- $.12 per bushel ($.06 - $.50 per bushel)
· Hauling Grain (5-25 mi.) -------- $0.20 per bushel ($.09 - $.35 per bushel)
· Grain Drying (cont. flow) ------- $0.06 per point per bushel (incl. fuel, electricity and labor)
· Farm Bin Rental ----------------- $0.15 per bu. per year ($.10 - $.45/bu./year) (or $.03/bu./month)
Harvesting Forages:
· Mowing/Conditioning Hay ---------- $17.00 per acre ($10 - $25 per acre)
· Hay Baling (large round bales) ----- $12 per bale ($11 - $19 per bale) ($16 per bale with wrap)
· Corn Stalk Baling (large bales) ----- $14 per bale ($10 - $20 per bale) ($16 per bale with wrap)
· Silage Chopping ---------------------- $9.50 per ton ($7 - $12 per ton) (or $77 per hour per head row)
Farm Labor Rates:
· General Farm Labor ---------------- $22.00 per hour ($15 - $40 per hour)
· Spraying & Harvesting Labor ----- $25.00 per hour ($15 - $40 per hour)
Table prepared by Kent Thiesse, Farm Management Analyst