U.S. farmers are entering 2026 with a rare bit of optimism as a beefed-up federal safety net and moderating input costs are finally forecast to push net cash farm income higher, after a decade of widening gaps between what producers spend and what they earn.

Speaking at the 2026 Agricultural Outlook Forum, Justin Ben­avidez, chief economist of the U.S. Department of Agriculture (USDA), described a...