By Jason Vance

As farmers move deeper into the winter planning season, U.S. corn growers are taking stock of the 2025 harvest and looking ahead to spring planting under continued financial pressure.

Jed Bower, president of the National Corn Growers Association (NCGA) and a farmer from southwest Ohio, said weather challenges and rising input costs defined the past growing season and continue to weigh heavily on farm profitability as growers prepare for the 2026 crop.

Bower said much of his region experienced a difficult spring with excessive moisture, followed by dry conditions after mid-July. Rain did not return until September. While yields on his own farm ultimately held up better than expected, Bower said national results appear to have fallen short of early projections.

“USDA thought we were going to have a giant, huge crop, and they still think it’s going to be big,” Bower said. “But it seems like everybody I talk to is off a little bit. There aren’t those honey spots like they originally thought.”

As final production numbers continue to be refined early this year, Bower said growers are entering the 2026 planning season with extremely tight margins and little available cash flow.

“There’s just no cash flow out there for growers,” he said. “As we’re looking to plant the 2026 crop, that’s a real concern.”

On the demand side, Bower pointed to record-setting U.S. corn exports. Last year closed with historic export volumes, and the current marketing year is already on pace to set new records. However, those strong demand signals have yet to be reflected in commodity prices.

“That’s what’s so frustrating,” Bower said. “We’re seeing record exports, but the markets aren’t reacting to it.”

NCGA continues to push for year-round approval of E15 ethanol blends as one potential outlet for excess corn supplies. Bower said expanded ethanol use could significantly reduce inventories and provide price support.

“For every 1% increase in corn grind for ethanol, you’re potentially talking about 450 million bushels,” he said. “With E15, we’re talking a couple billion bushels that could get used up.”

Bower said NCGA has been working closely with the administration and Congress, offering a short list of targeted trade opportunities designed to move large volumes of corn quickly. He credited the Secretary of Agriculture with engaging on those recommendations as part of broader efforts to strengthen export demand.

At the same time, NCGA is turning increased attention to the cost side of the farm economy. The organization recently launched an input task force to examine fertilizer, seed and other input prices that remain elevated heading into the 2026 growing season.

“When I look at my fertilizer costs, my seed costs and what I brought in this year, the numbers don’t look good,” Bower said. “We’re hearing concerns that foreign markets may be buying some of these inputs cheaper than we are here, and that’s an issue.”

The task force will work with USDA to analyze pricing dynamics and global competitiveness, with the goal of restoring profitability across rural America.

“When farmers are making money, everything’s good,” Bower said. “But nobody’s making any money right now, and that’s a true problem for rural America.”