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Farmers Are Struggling to Turn a Profit. How Does It Compare to the Farm Crisis in the '80s?

By Hope Kirwan

Corn and soybean growers have seen several years of low commodity prices and increased costs for supplies like fertilizer and fuel. That has many farmers worried about whether they'll turn a profit this year and drawn some comparisons to a dark time in American agriculture.

This story is the first in "Tough Times," a Harvest Public Media series looking at the economic stress that many American farmers are facing in 2026.

Rows of green corn blanket Pat Mullooly's farm in southern Wisconsin.

After months of preparing the ground, planting seeds and adding fertilizers and pesticides, much of his work for the season is already done.

"Now, the crop is a little bit in Mother Nature's hands," said Mullooly, who is the sixth generation of his family to operate the farm just north of the border with Illinois.

He's had strong yields for both his corn and soybeans the past two summers, which has helped offset low prices for the crops.

But Mullooly worries he won't have that to fall back on this year.

"Sitting here today, our crop doesn't appear to be as good as last year," he said. "That's the risk we take."

He's hoping he can bring in enough money for his crop to cover what it cost to grow it.

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