South Dakota
Farm revenues fall as Iran war and market concerns rise
LYONS, S.D. – Farmer Jeff Thompson had waited months for soybean prices to rebound, and he was getting a little antsy.
Like many of the roughly 18,000 other crop farmers in South Dakota, Thompson is storing corn and soybeans in giant grain bins on his farm because he can’t sell at a profitable price due to a variety of unfavorable market conditions.
“The market right now is at a loss position and we’re about to plant the most expensive crop in history.” – Scott VanderWal, president of the South Dakota Farm Bureau Federation and vice president of the American Farm Bureau Federation
After several months of waiting – and suddenly seeking an infusion of cash – Thompson made the decision in mid-March to sell off about 15,000 bushels of beans he had been storing since the fall 2025 harvest.
But the day he hoped to sell, a single social media post by President Donald Trump caused the soybean price to fall by 70 cents a bushel, a decline that would have caused Thompson to lose more than $10,000 on the sale.
Trump’s post indicated he would delay scheduled trade talks with President Xi Jinping of China, the world’s largest importer of soybeans and a country in which the U.S. is embroiled in a trade standoff that has hurt American soybean producers.
Thompson held onto his soybeans, and the wait for better prices began anew.
“The whole geopolitical thing keeps you awake at night and you don’t know what’s going to happen next,” Thompson, 64, said on a recent day at his farm in Lyons, an unincorporated hamlet located about 25 miles northwest of Sioux Falls. “Farming is risky enough on its own, fighting Mother Nature and all that, so I’m hoping things will settle down.”
A trifecta of terrible economic headwinds
The Trump tariffs and resulting trade wars that have devastated foreign export markets over the past year are not the only unsettling reality for South Dakota grain producers, who grew 1.1 billion bushels of corn and 238 million bushels of soybeans with a combined value of $6.4 billion in 2025, according to the U.S. Department of Agriculture.
The new U.S. war with Iran has led to the closure of a key global shipping route through the Strait of Hormuz, dramatically driving up prices for fuel and fertilizers. Farmers were already reeling from ongoing inflation that has raised prices for “inputs” required to grow crops, including seeds, water and electricity, rent or loan payments for land, and machinery and parts.
The trade war with China has led the Asian nation to forgo most orders for American soybeans and turn instead to South American producers. Prior to the trade war, about 30% of the soybeans grown annually in South Dakota were exported to China.
All that financial pain has been piled on top of stagnant low prices that have hurt revenues even as South Dakota grain farmers have produced record crops of corn and soybeans over the past couple years.
“The most difficult thing of all is that we’ve had three to four years of depressed prices,” Thompson said. “You can handle one low price year decently. But when they begin to piggy back on each other, it gets tough.”
Seeking new markets and uses
Since Trump took office and imposed tariffs on goods from other countries, cattle ranchers and other livestock producers have benefited from high sale prices and strong markets for their goods, as previously reported by News Watch.
Small local farms growing stronger roots in South Dakota
Consumer demand for organic and locally grown foods continues to rise, but running a small farm isn’t always an easy task for producers.
But almost all other farmers in South Dakota and across the country are feeling the financial pain and emotional stress of an unfavorable global market for agricultural goods, said Scott VanderWal, president of the South Dakota Farm Bureau Federation who also serves as vice president of the American Farm Bureau Federation.
“By nature, farmers are pretty optimistic, but economically it’s pretty tough right now,” said VanderWal, a grain farmer from Volga. “The market right now is at a loss position and we’re about to plant the most expensive crop in history.”
National agricultural leaders are urging President Trump to find new international and domestic markets for agricultural products, VanderWal said. An ongoing hope is that Congress will approve national year-round use of E-15, the gasoline that contains more ethanol and could boost corn prices and markets.
Jerry Schmitz, executive director of the South Dakota Soybean Association, was one of a dozen South Dakota officials and agricultural leaders who spent eight days in March on a trade mission to expand export opportunities in Japan and South Korea.
Schmitz said those two Asian countries — relatively small buyers of South Dakota corn and soybeans compared to China — were welcoming and eager to maintain or expand imports of American grains and goods.
The majority of South Dakota grains sold as exports are used as hog and poultry feed while a smaller percentage is used for human consumption, he said.
But even the most optimistic agricultural experts and producers are concerned the worst is not over yet for American farmers, Schmitz said.
“Things have been difficult, and possibly this could continue for another year or two,” he said. “Farmers are pretty flexible, but when bad news happens three to five years in a row, and with all the things happening in the world, it gets concerning.”
Fewer profitable farms possible this year
While it may be hard for South Dakota farmers to believe, the Rushmore State has fared better than most of the nation during the recent agricultural economic downturn, said Nate Franzen, president of agricultural lending at First Dakota National Bank in Yankton.
In 2025, the state had only one farm bankruptcy that Franzen was aware of, and about 80% of grain producers made a profit, a higher rate of performance than the 65% he predicted.
“There’s a lot of younger guys who love to farm, but it just doesn’t pay.” – farmer Jeff Thompson
Franzen, who has worked in farm lending for three decades, said the best year for farm profitability in South Dakota over the past 20 years was in 2011, when the ethanol market was raging and about 93% of state farmers made money.
In 2025, record yields by producers and a high level of diversification on individual farms put South Dakota in a good position. But 2026 may be more challenging, he said.
“Looking forward, it is troubling,” Franzen said. “We’ve been experiencing inflation on the expense side for the last few years. And this Iran war is not helping because fertilizer is spiking and fuel is spiking.”
Financial and emotional stress the norm
Meanwhile, many farm families are enduring stressful kitchen-table meetings about money and the future of their operations, VanderWal said.
The challenging economic conditions are hardest on young farmers without strong equity or savings, those who recently took over from retiring parents or those who are heavily leveraged with loans for land or equipment.
“We are hearing more stories of bankruptcies increasing, and we’re hearing more incidents of farmer suicides again,” he said. “Farmers and ranchers are very proud people and it’s hard for them to ask for help, so we’re encouraging people to pay attention to family members and neighbors and get help for them if they need it.”
Schmitz said most South Dakota grain farmers are sticking to their planting plans for 2026 even amid great market uncertainty.
He said some farmers may plant more cover crops instead of corn and soybeans to build soil health, and a few may diversify their operations with cattle, hogs or poultry to create new revenue streams and generate manure as a source of low-cost fertilizer. Others may take on new jobs off the farm or expand the hours they spend working outside of agriculture.
Impacts felt beyond South Dakota farms
From a broader perspective, the weakening farm economy is hurting not only farmers but also the communities where they live, VanderWal said.
“Agriculture is what drives the economy of this state and very much so in the small communities,” he said. “These issues could really come home to bite the small communities of South Dakota.”
Ultimately, continued income challenges for American producers could lead to farm consolidation and greater corporate ownership, which could threaten not only American family farms but also the nation’s ability to feed itself, VanderWal said.
“Food security is national security, and if we have to rely on other countries for our food supply, that’s a real problem,” he said.
Thompson, the Minnehaha County grain farmer, said he is hopeful that new trade deals brokered by President Trump will hold up and remain favorable over the long term. He has applied for some of a recent $12 billion farm bailout approved by the president, though he considers that stop-gap program only a “small Band-Aid.”
Thompson hopes that when he retires in a few years, the agricultural economy will be strong enough for someone local to buy his roughly 800 acres and continue to use it for farming.
But he’s no longer sure that will happen.
“We love what we do and look forward to passing things down that we’ve built up over the years,” he said. “There’s a lot of younger guys who love to farm, but it just doesn’t pay.”
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Roberta Anne (Chaboya) Cahill, 82, of Pierre, passed away Friday, May 29, 2026 at Avantara in Pierre. A celebration of life will be held at Isburg Funeral Chapel on Sunday, June 7, 2026 at 4:00pm with the family greeting visitors one hour prior to the service. A graveside service will follow Monday, June 8, 2026 at Greenwood Presbyterian Cemetery in Greenwood, SD at 11:00 AM followed by a small luncheon.
Roberta was born April 1, 1944 in Wagner, SD, the daughter of Sarah St. Pierre and George Chaboya. Family and close friends lovingly called her Berdie or Bea. She grew up in Pierre where she attended McKinley Elementary and Pierre Jr High School and graduated from the Flandreau Indian Vocational High School in 1962 where she was a cheerleader, salutatorian, senior class president and editor-in-chief of the yearbook. She received her Bachelors of Science degree from Northern State College in 1966 and her Masters of Art from the University of South Dakota in 1971. She was an enrolled member of the Yankton Sioux Tribe.
Roberta married David Cahill on June 9, 1967 in Deadwood, SD. Together they raised Daniel, born in 1981, and instilled the values and ethics they had inherited from their parents. She was a tremendous wife and mother allowing her family to thrive. They made many trips together as a family, travelling to the Black Hills often and going on multiple road trips built around the family love of baseball. She attended all of her family’s events she could, even keeping score at Dan’s baseball games and filming games and concerts. She was also the primary photographer for family events making sure important moments like holidays, birthdays and trips were documented. Roberta was known among her family as a supporter and protector of all. She looked after everyone, never refusing to help when asked and offering a helping hand when necessary. No one went without if she could help it. She was a great listener and advisor leading to her being the go-to person for her family.
Roberta’s work career can be encapsulated in one word: service. Much like her husband David, each position she took was in service to others. She began her career working for the State of South Dakota as a social worker. She then moved to the federal government in 1968. During this time she worked at the Pierre Indian School as a counselor and dorm parent where David was a social worker. She and David then moved to Sitka, AK where she was the girl’s freshmen and sophomore councilor for two years at Mt. Edgecumbe High School, a boarding school for the Indigenous students from all over Alaska. At both schools, Roberta was a fierce advocate for her students, always fighting for their best interests. They then moved back to South Dakota in 1978 where Roberta worked for the Bureau of Indian Affairs in Aberdeen until moving back to Pierre in 1980 to raise her new family nearer to her family and home. She continued her work with the BIA in Ft. Thompson until 1990 when she transferred to the Indian Health Service as a Community Health Educator, ending her government career in January 2003. Roberta retired for good after a decade working for American Cancer Society in Pierre where she was the Director of SD Community Partnerships, concentrating on outreach and education, while also helping organize events such as the Relay for Life.
Roberta and David loved travelling and meeting new people. They took many trips across the country, mostly by car or van. They travelled across the Central, Southern, and Western United States. They were especially fond of Western Canada and Alaska making multiple road trips beginning in 1976 through 2016. Both were extremely fond of nature and animals. Roberta was a prolific photographer taking hundreds of pictures of nature and animals on these trips. They had two dogs, Sport and Snoopy they loved dearly and spoiled. Later they spent untold hours feeding birds, squirrels and rabbits in their backyard. She was particularly fascinated with eagles and spent hours of time just sitting along the causeway or Capital Lake watching the ducks and geese or driving along the Oahe Dam or the local islands to observe nature. She and David referred to this as their therapy. Roberta was also a philanthropist, donating to many charities including those doing medical research, supporting veterans, and especially supported wildlife and natural resource protection and food insecurity charities.
Remaining to cherish Roberta’s memories and carry on her legacy are son Daniel (Tucson, AZ), her three brothers, Larry Haukaas (Debby) of Pierre and children Paul, Larry and Jennifer, Thurlow Haukaas (Estelle) of Pierre and nine children, Harley Haukaas (Laurie) of Yankton, SD and children Carly, Samantha and Haley, and sister Ellen Bad Moccasin (Paul) of Pierre and children Robert, Derek and Marcus and numerous cousins.
Preceding Roberta in death is her husband David, mother Sarah, brother Greg, sisters Eileen Jo Haukaas and Julie Kay Haukaas and many uncles and aunts.
In lieu of flowers, the family asks you to donate to PAWS or PARS both in the Pierre area.
WASHINGTON — South Dakota’s governor, the speaker of the state House, the state’s lone representative in Congress and a businessman will face off in a competitive Republican primary for governor on Tuesday. Primary voters will also choose nominees for other state and federal offices, while Sioux Falls residents will elect a new mayor.
Gov. Larry Rhoden seeks a full term as the state’s chief executive. He was previously lieutenant governor under then-Gov. Kristi Noem but assumed the top job when Noem stepped down in early 2025 to join President Donald Trump’s Cabinet.
Serving less than half a term as governor was not enough for Rhoden to clear the Republican field. He faces strong challenges from U.S. Rep. Dusty Johnson, state House Speaker Jon Hansen and businessman Toby Doeden.
The winner will face former state Sen. Dan Ahlers in the general election. Ahlers is unopposed for the Democratic nomination.
At the top of the ballot is the race for the U.S. Senate, in which Republican Mike Rounds seeks a third term. His opponent in the primary is Justin McNeal, a U.S. Navy veteran who ran as an independent in 2024 against Johnson for his U.S. House seat but was kept off the ballot over invalid signatures on his nominating petition.
Nonprofit executive and former state trooper Julian Beaudion is unopposed for the Democratic nomination. Attorney and military veteran Brian Bengs is running in the general election as an independent. Bengs previously ran for the U.S. Senate in 2022 and received 26% of the vote against Republican Senate Majority Leader John Thune.
State Attorney General Marty Jackley is running to replace Johnson in the U.S. House. He faces Republican James Bialota in the primary.
Trump has endorsed Rounds for U.S. Senate and Jackley for U.S. House. He did not endorse a candidate for governor.
In South Dakota primaries for governor, U.S. Senate and U.S. House, candidates must receive at least 35% of the vote to win the nomination. If no candidate reaches that threshold, the top two vote-getters advance to a June 23 runoff.
In Sioux Falls, the state’s most populous city, five candidates are competing to replace term-limited Mayor Paul TenHaken. If no candidate receives a vote majority, the top two finishers will advance to the runoff.
The key counties to watch on primary night are on opposite ends of the state. Minnehaha County on the eastern border is home to Sioux Falls. Pennington County on the western border is home to Rapid City.
South Dakota is one of the most reliably Republican-voting states in general elections, so the winners in Tuesday’s GOP primaries should enter the general election campaign with a considerable advantage.
Here are some of the key facts about the election and data points the AP Decision Team will monitor as the votes are tallied:
When do polls close?
Polls close at 7 p.m. local time, which is 8 p.m. and 9 p.m. ET. Polls in most of the state are in Central time and close at 8 p.m. ET, but some polls are in Mountain time and close at 9 p.m. ET.
What’s on the ballot?
The Associated Press will provide vote results and declare winners in contested primaries for U.S. Senate, U.S. House, governor, state Senate, state House and mayor of Sioux Falls.
Who gets to vote?
Registered party members may vote only in their own party’s primary. In other words, Democrats can’t vote in the Republican primary or vice versa. Independent voters or those with no party affiliation may participate in the Democratic primary but not the Republican primary.
How many voters are there?
As of April 1, there were about 674,000 registered voters in South Dakota, including about 318,000 registered Republicans, about 138,000 registered Democrats and about 157,000 independents or voters with no political affiliation.
How many people actually vote?
Nearly 119,000 votes were cast in the Republican U.S. Senate primary in 2022.
How much of the vote is cast early or by absentee ballot?
About 19% of the 2024 primary vote and about 20% of the 2022 primary vote was cast before primary day.
As of May 26, about 17,000 ballots had already been cast in Tuesday’s election, roughly 79% in the Republican primary and roughly 15% in the Democratic primary.
When are early and absentee votes released?
In South Dakota, results from mail and in-person early voting are usually released together with results from in-person Election Day voting. More than a third of the state’s 66 counties tend to release most or all of their results, including in-person Election Day results, in the first vote update.
How long does vote-counting usually take?
Although South Dakota spans two time zones, state law requires that no results are released until the final polls have closed at 9 p.m. ET.
In the state’s most recent U.S. Senate primary in 2022, the AP first reported results at 9:02 p.m. ET, or two minutes after the last polls closed. The final vote update of the night was at 3:22 a.m. ET, with more than 99% of total votes counted.
When will the AP declare a winner?
The AP does not make projections and will declare a winner only when it’s determined there is no scenario that would allow a trailing candidate to close the gap. If a race has not been called, the AP will continue to cover any newsworthy developments, such as candidate concessions or declarations of victory. In doing so, the AP will make clear that it has not yet declared a winner and explain why.
How do recounts work?
Recounts in South Dakota are automatic only in cases of tie votes. Losing candidates for statewide office may request a recount if the vote margin is 0.25% or less of the total votes cast. Candidates for state legislative and local offices have a higher threshold: 2% of the total votes cast. The AP may declare a winner in a race that is subject to a recount if it can determine the lead is too large for a recount or legal challenge to change the outcome.
Are we there yet?
As of Tuesday, there will be 154 days until the 2026 midterm elections.
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