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Banking leader says profitability pressure is building for 2026 row crop farmers

The senior vice president of agricultural and rural banking policy with the American Bankers Association says the ag economy is a mixed bag heading into 2026.

Ed Elfmann says financial conditions have been favorable for livestock producers.

“Especially beef,” he said. “Poultry is doing pretty well. Dairy, if managing your risk correctly, is in a good spot.”

But he tells Brownfield it’s a different story for row crop farmers.

“What started in the Mid-South and the South as far as low commodity prices and high input prices, it’s started to creep into the Upper Midwest,” Elfmann said. “You’re watching the I-States start to see that the cash rents don’t line up with what your profitability is from a row crops standpoint.”

Elfmann says a squeeze on agricultural profitability is one of his biggest concerns for 2026.

He spoke to Brownfield at the 2025 NAFB Convention in Kansas City.