October 02, 2026 

Rural Mainstreet Index Falls on Farm Cost Concerns

Rural bankers are growing more concerned about the farm economy as higher fuel and fertilizer costs weigh on producers. Creighton University’s September Rural Mainstreet Index fell to 44.7, down from 50.3 in August. Readings below 50 indicate economic contraction. Ernie Goss (GAHS), regional economist at Creighton University, says pessimism over higher input costs outweighed optimism about improving grain prices. Bankers identified fertilizer and fuel as the biggest financial pressures facing agricultural customers. About 53 percent cited higher fertilizer costs, while 47 percent pointed to soaring fuel prices. Farm equipment sales also remain weak. The September index came in at just 25, marking the 37th consecutive month below growth-neutral. Meanwhile, 79 percent of bankers said tariffs are negatively affecting their local agriculture and livestock economies. Goss says rural bankers remain pessimistic about the next six months, with the economic confidence index falling to 26.3 in September.

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Corn Stocks Jump 35 Percent From Last Year

U.S. corn stocks heading into the new marketing year were substantially higher than a year ago, according to the latest USDA Grain Stocks report. Old-crop corn stored on farms and at commercial facilities totaled 2.10 billion bushels as of September 1, up 35 percent from a year earlier. USDA says 787 million bushels were stored on farms, a 22 percent increase from last September, while off-farm stocks totaled 1.31 billion bushels, up 44 percent. Corn disappearance from June through August totaled 3.20 billion bushels, compared with 3.09 billion during the same period in 2025. Soybean stocks were down three percent from a year earlier, while all-wheat stocks fell 14 percent to 1.85 billion bushels. USDA also revised its 2025 production estimates slightly, reducing corn production by less than one percent and soybean production by a small amount. The report comes as harvest gets underway, with larger old-crop corn supplies adding another factor for farmers watching prices this fall.

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Michigan Farmer Takes Over as NCGA President

Michigan farmer Matt Frostic began his term Wednesday as president of the National Corn Growers Association. Frostic farms 1,000 acres of corn, soybeans, edible beans, and sugar beets near Applegate, Michigan. He says his priorities include securing year-round sales of E15, passing a new farm bill, and diversifying demand for corn. Frostic says those goals may seem ambitious, but the organization will do everything possible to make them a reality. “Farmers work day and night, at times through difficult conditions, to produce a crop that feeds and fuels America and the world,” Frostic said. “We deliver, and we expect our representatives in Washington to work hard and deliver as well.” Frostic previously chaired NCGA’s Input Cost Task Force, working on ways to bring farm input costs more in line with commodity prices. He also served as NCGA vice president and previously led the Michigan Corn Growers Association. NCGA presidents serve one-year terms beginning October 1.

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Sheep IQ Workshops to Focus on Productivity and Profitability

Sheep producers still have opportunities this fall to attend American Lamb Board Sheep IQ Workshops focused on improving productivity, management, and profitability. Three producer-focused workshops are scheduled: October 16th and 17th in Cedar City, Utah; October 30th and 31st in Columbia, Missouri; and November 6th and 7th in Morgantown, West Virginia. The two-day workshops combine practical education, hands-on learning, and discussion among sheep producers. Topics include benchmarking and record keeping, marketing, breeding and genetics, animal health, nutrition, pasture and forage management, and production practices. Organizers say profitability in the sheep business is influenced by decisions throughout the production cycle, and small improvements can add up to meaningful gains in flock performance and returns. The workshops encourage producers to evaluate their operations, identify opportunities for improvement, and make informed management decisions. Programming will feature industry experts along with opportunities for producers to ask questions and exchange ideas. Registration remains open for all three fall workshops.

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NFU Opposes Proposed Rail Merger

The National Farmers Union is opposing the proposed merger of Union Pacific and Norfolk Southern railroads, saying further rail consolidation could reduce transportation options for farmers. NFU President Rob Larew says decades of railroad mergers have left farmers with fewer options, higher rates, and less reliable service. He called on the Surface Transportation Board to prioritize rail competition as it reviews the proposed merger. The STB says the transaction would combine the two rail systems into a single network covering about 50,000 miles across 43 states. The Board is currently reviewing the revised merger application. NFU is also calling for reforms addressing captive shippers, reciprocal switching, maximum rates for captive movements, and accountability for delayed rail deliveries. The STB most recently denied motions seeking summary rejection of the merger application, while noting that decision did not address the merits of the proposed transaction.

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USDA Expands Regenerative Agriculture Pilot   

The U.S. Department of Agriculture is expanding its Regenerative Agriculture Pilot Program for fiscal year 2027, providing $1 billion in financial assistance to producers. USDA says $650 million will be provided through the Environmental Quality Incentives Program, while another $350 million will come through the Conservation Stewardship Program. The funding supports voluntary conservation practices designed to address whole-farm resource concerns. Members of the Food and Agriculture Climate Alliance welcomed the expanded program and USDA’s plans to increase locally led input in selecting eligible conservation practices. The agency is also expanding technical assistance options for producers and maintaining whole-farm planning as the program enters its second year. USDA says producers can bundle multiple regenerative practices into a single application, while the program will support operations ranging from beginning producers to those with more experience. The Regenerative Pilot Program began in fiscal year 2026 with $700 million in funding.

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