South Dakota farmers are facing some of the toughest economic conditions in years as low crop prices, global conflict, and rising costs squeeze operations across the state. Many producers, including grain farmer Jeff Thompson, are storing corn and soybeans because selling now would mean taking a loss. Thompson says, “The whole geopolitical thing keeps you awake at night.”
A combination of factors is driving the downturn — from tariffs and the ongoing trade war with China to the U.S. conflict with Iran, which has pushed fertilizer and fuel prices sharply higher. Farm leaders warn that 2026 could bring fewer profitable farms and more financial stress. As one official put it, “The market right now is at a loss position and we’re about to plant the most expensive crop in history.”
Experts say the strain is spreading beyond farms and into rural communities as producers brace for another uncertain year.
