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
Corn growers are turning to ethanol, E15 expansion, and export markets to help absorb record supplies and stabilize prices. Farm leaders discuss low-carbon ethanol demand, flex-fuel vehicle challenges, input costs, and the role of USMCA as producers look for market relief in the year ahead.
From rising trade tensions in Europe to a pending Supreme Court decision on tariffs and shifting demand from China, global trade policy spearheaded by President Donald Trump continues to shape the outlook for U.S. agriculture—adding uncertainty as farmers navigate another volatile year.
The Surface Transportation Board rejects the proposed Norfolk Southern–Union Pacific merger, prompting concerns from agricultural shippers about rail consolidation, service reliability, and higher transportation costs.
Freight volatility and route selection remain critical to soybean export margins and competitiveness.
Strong balance sheets still matter, but liquidity, planning, and lender relationships are critical as ag credit tightens, according to analysis from AgAmerica Lending.
While short-term volatility remains a risk, softer ocean freight rates in 2026 could improve export margins.

LATEST STORIES BY THIS AUTHOR:

The EPA has approved over-the-top dicamba applications for the 2026 and 2027 growing seasons, outlining new rules that impact herbicide use for U.S. crop producers.
Merck’s Gary Tiller discusses new virtual fencing technology and how fence-free livestock management could change the way ranchers manage land and cattle.
At CattleCon 2026 in Nashville, RealAg Radio’s Shaun Haney discusses profitability, consumer demand, and how the integrated U.S.–Canada beef supply chain impacts cattle producers across North America.
Texas cowboy chef and host of RFD Network’s Twisted Skillet, Sean Koehler, shares an elote-style street corn dip just in time for Super Bowl Sunday. This skillet-cooked corn dish combines open-fire cooking and bold regional flavors for a delicious twist on Mexican Street Corn.
The USDA’s February WASDE report looms as the CME Ag Economy Barometer shows declining farmer confidence, and more ag industry groups calling for swift policy action.
San Angelo Stock Show & Rodeo Association’s Trenton Priddy preview this year’s event, which is now streaming on RFD+