Corn Prices Fall 50% Since 2022 While Production Costs Stay High, Says NCGA
Corn farmers are facing serious financial strain as corn prices have dropped dramatically since their 2022 peak, while production costs have barely budged. The National Corn Growers Association (NCGA) has issued a new report highlighting the widening gap between revenues and costs in 2025, raising concerns about the sustainability of U.S. corn production in the current market environment.
“Corn prices have dropped about 50 percent since hitting a peak in 2022. However, the cost of production has declined only modestly, making the production of corn unprofitable.”
This price-to-cost disparity is placing immense pressure on farmers across the country, who are seeing diminishing returns per acre despite record yields.
“This is particularly problematic for farmers trying to cash flow high production costs while the corn price has tanked,” NCGA said in the report.
According to the association, U.S. corn production is on track to hit 16.742 billion bushels with an average yield of 188.8 bushels per acre for the 2025-2026 marketing year. But even with such high output, profitability is out of reach for many.
“The average cost to grow a bushel of corn this year is projected at approximately $4.75 a bushel, and USDA expects farmers to receive about $3.90 per bushel, resulting in an 85-cent per bushel loss.”
This troubling financial outlook is drawing attention from policymakers and industry leaders. With just a 3.3% decrease in production costs since 2022, corn growers are operating well below break-even levels. Fertilizer, fuel, equipment, and land costs remain high, making it difficult for producers to adjust quickly to falling market prices.
The NCGA continues to advocate for federal support and market opportunities to help farmers navigate these challenging times. Trade expansion, biofuel demand, and risk management tools are among the solutions being explored.
As harvest season approaches, all eyes are on market volatility, export demand, and policy developments that could provide much-needed relief for corn producers in 2025.