"[The U.S. agricultural economy is] Possibly Already in a Crisis," argues NCGA

According to a survey from the National Corn Growers Association (NCGA), the vast majority of American farmers believe, at least partially, that the U.S. is on the brink of a farm crisis, raising alarms about diminishing confidence in the economy.

American corn, www.farmprogress.com.

The NCGA survey showed that in response to the question, "We asked over 1,000 farmers: Do you think the U.S. is on the brink of a farm crisis?," 46% selected "yes" as their answer, and a similarly large 33% reported "maybe." Only 15% said "no," and 6% stated "Don't Know Enough to Say."

Even worse news from the poll, a whopping 46% of respondents felt "Very Concerned" about the farm economy; 27% were "Moderately Concerned" and 16% were "Somewhat Concerned," with a meager 3% having no concern at all. Then, 65% of respondents stated that they felt more concerned about their farm financials than a year ago, with 31% felling about the same, and a mere 4% feeling less concerned.

In total, the poll surveyed 1,034 farmers conducted by the Farm Journal in the span of August 28th to September 10th.

Illinois farmer and NCGA President Kenneth Hartman Jr. expressed significant fear in the results of the survey. "Farmers are in a lot of economic pain right now... it’s a four-alarm fire in the countryside, and we need members of Congress to act fast to remove barriers to markets. Passing legislation for the year-round, nationwide sale of higher blends of ethanol would be an important first step in addressing this problem," Hartman argued.

Additionally, NCGA Chief Economist Krista Swanson used these results to show the true scale of such an economic downturn. "These findings point to a once-in a generation problem for the agricultural economy... the survey findings suggest that this crisis could have a long reach, affecting every area of the economy, as farmers are less likely to make purchases and will certainly make budget cuts that could affect their local communities," she responded.

It is evident that more farmers are getting concerned with the inflationary impact of President Trump's tariff policies, along with the supply chain barriers they cause. The president campaigned in 2024 partially for reviving American agricultural dominance through tariffs, citing his billion in tariff revenue generated on imported agricultural products during his first term. However, in his second term, inflation metrics like the CPI and PPC have risen, and more Americans are expressing concern over the economic future of the United States.

American farmers, usually holding less financial capital than service businesses, will have to contribute a greater portion of their income to purchasing goods with rising prices, thus threatening their failure to sustain operations. And, the advent of foreign retaliatory tariffs have prevented American products from being exported to foreign markets, impacting farmers first.