Only Greater Losses, More Socialism Ahead for Trump-Battered Farms

You’re not going to make any money farming, not this year or next, says the Farm Bureau:

Several years of high inflation and low commodity prices, coupled with volatile production costs, are continuing to squeeze farmers financially. These forces are projected to hit farmers with $32 billion in losses for the major row crops in 2027 after a projected loss of $31 billion in 2026. Fruit, vegetable, nut and other specialty crop farmers faced billions of dollars in losses in 2025, with difficult market conditions continuing throughout 2026. American Farm Bureau Federation economists analyzed the losses felt across the farm economy in the latest Farm Bureau Intel.

The Farm Bureau Intel states, “Corn losses are projected to increase from $131 per acre in 2026 to $167 per acre in 2027. Soybean losses are projected to increase from $80 per acre to $138 per acre, wheat losses from $114 per acre to $145 per acre and cotton losses from $342 per acre to $406 per acre. Rice, sorghum, oats, barley and peanuts are also projected to remain below breakeven.”

Specialty crop producers are facing many of the same cost and market pressures. The Farm Bureau Intel outlines six representative specialty crops – almonds, apples, blueberries, lettuce, potatoes and strawberries – with “over $7 billion in estimated 2025 economic losses as labor, input, compliance and capital costs outpaced farm-level returns. Available 2026 market data show that conditions for specialty crop producers have not broadly improved.” These crops account for only about one-quarter of specialty crop receipts [American Farm Bureau Federation, press release, 2026.07.16].

Market expert John Tsitrian says farmers can thank Donald Trump for torpedoing their markets:

First, his still-inexcplicable fixation on tariffs, both during his first and current terms, has basically reset international trade fundamentals for corn and soybean producers. South America’s corn and soybean production and export market shares have grown significantly as a direct result of trade tensions and retaliatory tariffs between the U.S. and China. China heavily shifted its agricultural purchasing to South American nations like Brazil and Argentina to bypass tariffs on American crops.

Second, input costs have risen significantly because of Trump’s international policies, with energy, fertilizer and machinery costs rising because of tariff and shooting wars.

Farmers are getting stuck with high costs and low prices thanks to Trump [John Tsitrian, “Farm Bureau: Farmers Will Lose $32 Billion in ’27. Will It Help Dems in Nov.?” South Dakota Standard, 2026.07.26].

And the only plan anyone has for saving those unprofitable farms is more socialism:

The Trump administration is asking Congress to send another $11 billion to farmers through taxpayer-funded farm subsidies, even though many would-be recipients are wealthy farms that already receive billions through several farm subsidy programs.

If Congress approves the request, it would be on top of the $12 billion currently allotted to farmers through the Farmer Bridge Assistance Program this year.

Farmers also already receive payments from two other categories: commodity programs and the federal Crop Insurance Program, new EWG research finds. According to data in EWG’s recently updated Farm Subsidy Database, farmers last year received a staggering $29.5 billion by “triple dipping” into three categories of farm subsidies.

The administration’s request, combined with these other payouts, would make payments swell to over $50 billion in 2026. This will place an even greater burden on taxpayers whose median income and wealth remain well below those of the average farm household. Total payments would make up a third of farm income this year [Anne Schechinger, “‘Triple Dipping’ Taxpayer Dollars: Trump Eyes Billions More in Subsidies for Wealthy Farms,” Environmental Working Group, 2026.07.16].

Hey, are any of you Republicans going to get back to advocating plain old capitalist reforms for farming?