The Farm Journal September Ag Economists’ Monthly Monitor makes it clear: Working capital is thinning, export markets are shaky and long-term crop margins could get ugly. But for now, one thing is still keeping its strength: Americans’ appetite for beef.
Farm Journal’s September Ag Economists’ Monthly Monitor found nearly half of the ag economists surveyed say the U.S. ag economy is worse off than a month ago and will remain depressed or even worsen over the next 12 months.
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.
NCGA’s Krista Swanson says it would take about 226 bu. of corn to buy a ton of ammonium phosphate, which is up from the 180 bu. it took at the beginning of this year. As fertilizer costs are on the rise, corn prices are now at or below $4, and it’s creating a grim outlook for 2026.
As soybean exports face increasing uncertainty, the United Soybean Board says it’s focused on drumming up more domestic demand.
Economists fear President Trump’s trade/tariff stance could push ag into a deeper recession.
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Tyne Morgan

Tyne Morgan is doing what she calls her dream job. She’s a Missouri girl who has generations of agriculture rooted in her blood. Born and raised in Lexington, Mo., FFA was a big part of her high school career. Her father is an agriculture teacher/FFA Advisory and was her biggest supporter/teacher. Through public speaking and various contest teams, she actually plunged into broadcast at the young age of 16. While in high school, she worked at KMZU radio providing the daily farm market updates, as well as local, state and national agriculture news. Today, Tyne is the first female host of U.S. Farm Report and resides in rural Missouri with her husband and two daughters where she has a passion for helping support her local community.