US farmers face financial stress as planting season nears
US farmers are heading into the 2026 planting season under serious financial stress, much of it linked to policies from Donald Trump's presidency.
Rising fertilizer costs from the war involving Iran, tariffs making equipment pricier, labor shortages due to deportations, and stalled trade with China have all piled on.
The US Department of Agriculture expects farm income to fall again this year, down $48 billion since 2022.
Bankruptcies hit a 4-year high in 2025
Many producers, particularly in the row-crop sector, are spending more than they make and facing multiyear losses, with expenses exceeding income for many operations and production expenses at record highs—about $473 billion in 2025 (revised) and roughly $478 billion forecast for 2026.
Bankruptcies hit a four-year high in 2025, and debt keeps rising while working capital drops.
Even though banks are giving out more loans and the government has offered some aid, it barely scratches the surface.
Some farmers and observers warn it will be harder for younger people to enter farming or to keep family farms operating.