Corn vs. Soy: Producers Weigh Inputs and Profit Potential for 2026 Crop Budgets

University of Illinois Ag Economist Gary Schnitker says early projections indicate soybeans will be more profitable than corn in 2026.

DEWEY, Ill. (RFD-TV)Harvest is in full swing, and we are looking at what next year holds for crop budgets, including fertilizer. One agricultural economist with the University of Illinois says prices could be coming down, depending on your crop.

“Looking at crop budgets for 2026 is where we’re at; we’re building in higher fertilizer costs for corn, and that’s being led by both anhydrous ammonia or nitrogen and DAP,” said Gary Schnitker. “Currently, prices are higher for those than they were at this time last year, so we built in a higher projection. Soybean costs are a little bit lower, primarily because, surprisingly, potash isn’t higher, and the tariff situation, even though we rely heavily on Canada, we seem to have an exemption now, so that’s going to flow okay, I suppose.”

Schnitker adds that early projections indicate soybeans will be more profitable than corn in 2026.

“Higher cost for corn is going to make corn relatively less profitable, and soybeans are impacting that relationship,” Schnitker continued. “We’ll see where farmers make their decisions as far as profitability, but right now, we’re predicting soybeans to be more profitable than corn. So, again, that’s been the case for a while, and you’re beginning to think, well, we do a lot of 50-50 corn and soybeans in this state. Maybe we’re going to have to shade more to soybeans, but that doesn’t look the best either if we consider that China hasn’t bought any of our soybeans, so we’ll see where all that goes.”

The Trump Administration is speaking out. Treasury Secretary Scott Bessent says an announcement is slated for Tuesday, promising to assist American soybean growers.

Related Stories
While short-term volatility remains a risk, softer ocean freight rates in 2026 could improve export margins.
Trade volatility and shifting export destinations increase marketing risk for producers heading into 2026.
RFD NEWS Correspondent Frank McCaffrey speaks with Texas’s Sen. Ted Cruz and Rep. Vicente Gonzalez about USMCA renegotiation and its impact on U.S.–Mexico agriculture trade.
Rising rural business confidence supports local ag economies, but taxes and labor shortages remain key constraints.
Farm CPA Paul Neiffer discusses how January’s WASDE report could impact ARC and PLC payments and updates on disaster relief programs as farmers navigate a challenging market environment.
Shaun Haney joined us to discuss Canada’s new trade agreement with China, the potential impact on farmers and exporters, and what it could mean for U.S.–Canada trade relations going forward.

LATEST STORIES BY THIS AUTHOR:

Clear right-to-repair guidance reduces downtime, repair costs, and operational risk.
Tennessee State Veterinarian Dr. Samantha Batey joined us with the latest on biosecurity efforts and the state’s new “Know Before You Show” initiative.
Texas Agriculture Commissioner Sid Miller discusses the state’s latest efforts to prevent the New World screwworm from reaching Texas.
Economists are also closely watching how policy decisions in Washington could influence markets moving forward. Analysts say deferred futures for corn, soybeans, and wheat suggest markets are operating near break-even levels, not at prices that would encourage expanded production.
House Agriculture Committee Chairman “GT” Thompson is pushing a “Farm Bill 2.0.”
University of Nebraska President Dr. Jeffrey Gold joined us with important insights on drug safety and rural health during the winter months.