The conflict’s direct impact on farm profitability in the 2026 crop year is likely to be modest and uneven. A more significant farm-level reckoning is coming in 2027 if Strait of Hormuz restrictions persist into the fall 2026 input purchasing and spring 2027 planting cycles.
Hubbell and Balagtas examine data from 2025 and explain the factors that drove changes to food prices. Looking forward, they discuss projections for food prices in 2026 and the policies and events that will affect them.
