U.S. Farm Report

A growing crisis is silently unfolding in agriculture. Farmers are 3.5 times more likely to die by suicide than the general population. With mounting financial stress, that number could be on the rise this year.

Fifty-three percent of agricultural economists surveyed in the July Ag Economists’ Monthly Monitor say the row crops side of agriculture is currently in a recession, which is down from the 72% who responded that way in May.

With 259 farm bankruptcies filed between April 2024 and March 2025, it’s clear the financial stress on farms is only growing more severe this year. But there’s been another troubling trend happening in the midst of the downturn.

According to Machinery Pete, the price of used high-horsepower tractors fell between 18% and 23% from 2023/24 levels, while regional auctions report used equipment values fell by as much as 40%. So far in 2025, used equipment values found footing, a trend on the verge of reversing due to growing strains in the farm economy.

Despite USDA’s strong corn condition ratings, more agronomists and farmers are reporting pollination problems from what’s being called ‘overly tight tassel wrap,’ an issue that can’t be seen until you walk into your fields.

As big yield estimates are being thrown around so early, it’s stoking an intense debate. However, that’s not stopping the trade chatter. With talk of a new national corn yield record, it’s pressuring prices, with many farmers staring at cash corn with a $3 handle.

While USDA’s crop condition ratings don’t translate to a specific yield, with strong conditions, analysts say it’s possible the U.S. will see a national record corn yield this year. Current market chatter is a national corn yield anywhere from 185 bu. to 200 bu. per acre.

The on-again, off-again reports regarding ICE raids is sowing confusion for those who rely on immigrant labor and causing labor shortages because employees aren’t showing up for work.

It’s not just planting cotton farmers are battling this year. Soybeans are also struggling in the ground, and the corn is wind whipped or battered by hail and sand. With farmers staring at financial losses already this year, some worry this could push a growing number of them out of business.

The start of June could bring high heat and drier weather, which is a stark contrast from the forecast for the last week of May.