Second Verse, Same as the First

The above line from Herman’s Hermits’ song, “I’m Henry the Eighth, I Am” can refer to a predictable, unchanged scenario. The line seems appropriate for agriculture entering 2026. Agriculture is in the middle of a pattern of plentiful supplies of feed grains and soybeans, stable but lackluster demand for crops, crop prices stuck at lower levels, tight cattle numbers, higher cattle prices, and input costs creeping higher. It seems crop producers are destined for another year of continued struggles, while cattle producers can expect another year of profits. A recent survey of agricultural economists showed 46% of respondents expected conditions to be unchanged over the next 12 months, 38% expected improvement, and 15% expected conditions to worsen. Mark this agricultural economist down as one expecting conditions to remain unchanged.