The U.S. Department of Agriculture projects that net farm income will total $158.4 billion in 2026, down an inflation-adjusted 5.5% from 2025, according to the American Farm Bureau Federation. Production expenses are projected to rise, with fuel, oil, and fertilizer expenses increasing 28.8% (fuel and oil) and 15.3% (fertilizer, lime, and soil conditioner) year-over-year, amid renewed conflict in the Middle East.