First Bank Hampton hosted its annual ag outlook meeting Friday, with about 35 people in attendance for a look at economic and policy issues affecting Iowa agriculture.
Iowa State University economist Chad Hart discussed grain supply and use, global crop production, export trends, meat production, biodiesel demand and crop price projections, comparing 2025 data with previous years and offering forecasts for 2026 and 2027.
Hart noted that while flooding and issues like southern rust impacted some fields in Iowa, overall production held up well in 2025.
“While we did see some, I think a lot of farmers in this area did experience maybe yields a little bit lighter than what we saw last year. When we look nationwide, it was an incredible crop year. And so, you know, as we look at the national yields for corn and soybeans, both setting records this year nationwide. And most of that record, if you will, came outside of Iowa. Iowa had good growing conditions. A lot of the Great Plains and Southeast had phenomenal growing conditions.”
Hart says abundant supplies in the U.S. and overseas markets are helping push grain prices below the highs seen in recent years.
“You can look back over the past five years for corn and soybeans, and what we’ve had is really strong production nationwide. And so typically when supplies are high, prices tend to go lower. But when you combine our growth in production, along with what we’re seeing outside the U.S., for example, in the soybean market, Brazil continues to grow soybeans at an incredible clip as well. So that’s again, putting downward pressure on prices. And then you gotta look at where are we selling more product to or where can we? You brought up China. The idea is yeah they’re not a big market for us in corn because they grow a lot of corn. On the other hand they’ve traditionally been our biggest market for soybeans but now they’re shifting more of those sales to Brazil because Brazil also has a lot of beans.”
State Representative Shannon Latham of Sheffield also provided an update on the 2026 legislative session during Friday’s meeting, including ongoing discussions on eminent domain and proposed property tax reform measures.
Photo of Chard Hart during Friday’s ag outlook meeting
