Summary
This report presents the U.S. Agricultural Outlook for 2026, detailing expected trends in various agricultural sectors. It outlines the profitability contrasts between proteins and row crops, with elevated input costs for row crops, particularly fertilizer. The report anticipates high global supplies of grains and oilseeds, necessitating increased consumption to match yield increases. Specific forecasts include an abundant corn crop with sustained high domestic supplies, while soybean profitability is expected to improve due to a U.S.–China purchase commitment. Wheat prices are projected to rise, but profitability may remain challenging due to global production factors. The cotton industry is expected to rely heavily on overseas markets, with potential improvements if Chinese tariffs are lifted. The almond and pistachio industries are poised for stability and favorable conditions, respectively, while the apple market faces a down-cycle. The report also discusses the livestock sector, predicting a moderation in cattle prices due to economic factors.
