The storyline for 2026 has been about a farm economy that is in a near-crisis situation. According to Federal Reserve Bank of Kansas City Senior Vice President Nathan Kauffman, that narrative is too negative. The reasons cited includes the strength of the overall U.S. economy, the profitability seen on the farm earlier this decade and government support. “I don’t want to diminish the idea that there’s been some amount of increase (in financial stress), and that’s to be expected in an environment when profits are low, and costs still quite high,” said Kauffman. Loan delinquency rates they’ve inched up, but only slightly. “It does give you a snapshot of what the picture of financial stress looks like.” Despite economic pressures, Kauffman doesn’t believe it is worthy of being described as a farm crisis.
