Corn growers are navigating economic challenges heading into the 2026 season. With corn prices stubbornly low- projected at $4.10 per bushel despite record demand¹—many operations are looking at another year where, despite high yields, prices won't cover costs. The USDA's January WASDE report confirmed what many suspected: last year's record 17-billion-bushel crop means there's plenty of supply, and prices probably will not bounce back soon².

*F = Forecasts are as of December 15, 2025. Projected costs are based on 2024 production costs and projected changes in 2025 and 2026 indexes of prices paid for farm inputs.“Commercial fertilizer, soil conditioners, and manure.

*Custom operations, technical services, and commercial drying.

“Purchased irrigation water, cotton ginning, and baling straw.

Note: Production cost forecasts are updated and released twice a year.

Source: USDA Cost of Production Forecasts 2025-2026: ers.usda.gov/data-products/commodity-costs-and-returns

In this environment, every dollar counts. That’s where a December 2025 report from the University of Missouri's Ruraland Farm Finance Policy Analysis Center (RaFF) may offer a bit of a silver lining. Researchers compared financing optionsfor corn seed purchases and found that growers can create real cost savings by strategically using retail financingprograms, like those from Nutrien Financial™, alongside traditional bank operating lines.

This comparison breaks down which financing approach delivers better value for seed purchases. Below are the keytakeaways and the most impactful benefits of using retail financing alongside your bank operating note.

Diverse Sources of Capital Create Financial Flexibility

As the RaFF report highlights, there are many ways to pay for operational expenses. There's an assumption that bank operating lines of credit are cheaper than financing offers you'd get from a retailer like Nutrien Financial, but the reality is, many retailers offer competitive, low-rate financing that frees up your bank line of credit for other things.

Maman also points out, it’s a good practice to review any financing offers with financial experts who can help you find the best options for your specific needs.

Most likely, this will include utilizing a few sources of capital, like cash, prepay, bank lines of credit and retail financing, so you can reap the benefits of each. Paying in cash eliminates interest costs entirely, but what if cash preservation is a goal? As the RaFF report indicates, bank lines of credit may carry higher interest, but they also give you complete flexibilityto allocate funds wherever your operation needs them most — having that flexibility is priceless in today’s market.

The bottom line is to be strategic when you consider your options to pay for various expenses. Using your bank note to pay for inputs may not be the most economically advantageous play. Take time to align forms of payment with the right expense category to maximize the value of every dollar you spend.

Pay Attention to the Fine Print

While you consider your capital management strategy, you also need to know your total borrowing costs to make sound financing decisions in early 2026. The RaFF report underscores how important it is to understand the dynamics behind different financing offers because those details could translate to thousands of dollars in savings across your operation.

Many growers zero-in on interest rates and look for those 0% offers, but to create more cost savings, you need to consid the full picture of borrowing costs, which also includes fees, repayment terms, late payment penalties and other more nuanced variables that are easy to overlook when you are comparing costs.

For example, imagine you secure a 0% promotional rate on inputs for four months, but that offer is followed by a trailing rate of 18%. Yes, you'll save during that four-month period with 0% interest, but those savings could be negated when you account for borrowing costs beyond this initial term. You might not sell your crop for eight months after the 0% promotion. With the advertised term of 0% for four months, you may fail to notice the real annualized cost of carrying a balance for the full year, which ends up around 12%. If you need to carry the loan for a longer term than what's offered with the promotional rate, you might consider another loan that better aligns with your financial needs. In this example, a vendor rate of say 2% or 3% for the full term of the borrowing period would cost less even though it’s not a 0% offer.

So, you can see it’s possible to reduce your borrowing costs even with financing offers that come with a higher interest rate. It just comes down to reviewing the terms closely and making sure any financing offer you go with meets your cash flow objectives.

It’s Not Too Early to Plan Ahead

To capitalize on the biggest savings potential, the RaFF report can serve as a reminder that you need to start planning for next year in late summer. In July 2026, start asking what’s gone well, what could have been better, and what can

you change next year to improve your agronomic and economic decisions for 2027. These questions will naturally open up conversations with crop consultants about the value of early input commitments and the various terms, rates and incentives you can lock in to drive additional value and savings.

And in the meantime, Nutrien Financial has several sub-prime seed financing programs for growers. Customers can review these and other offers for crop protection and nutrition, assess the terms and conditions and connect with their local

branch for expert insights on both agronomic and economic decisions using the Nutrien Ag Solutions HUB.

Read the full report from The University of Missouri Rural and Farm Finance Policy Analysis Center (RaFF).