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7 Smart Steps Iowa Farmers Should Take Before January to Prepare for the 2026 Crop Year

As harvest winds down across Iowa, farmers shift from long days in the field to long-term planning at the kitchen table. At Bank Plus, we know that post-harvest isn’t a time to slow down; it’s a time to set the foundation for next year’s success.

The decisions you make between now and January can shape your operation’s performance in 2026. Whether it’s tax strategy, equipment financing, or cash flow planning, now is the time to act.

Here are 7 smart steps to help you prepare for the 2026 crop year with confidence.

1. Review Your Harvest Data While It’s Fresh

Before the dust settles, take time to:

  • Walk your fields
  • Review yield maps and monitor data
  • Look for patterns in productivity, pest pressure, or disease

Ask yourself:

  • Did your nutrient program perform well?
  • Were there areas where weed or pest control fell short?
  • Should you rethink your crop rotation or seed selection?

 

Don’t let good data sit on a USB drive. Talk with your agronomist or precision ag advisor and turn insights into action for the year ahead.

2. Meet with Your Tax Advisor Early

High-income years can bring high tax bills, but smart planning can help you keep more of what you’ve earned. Before December 31, talk with your tax advisor about:

  • Prepaying seed, fertilizer, or fuel
  • Taking advantage of Section 179 or bonus depreciation on new equipment
  • Deferring income or crop insurance proceeds
  • Using farm income averaging to reduce your tax burden

 

Reminder: Don’t buy equipment just to reduce your taxes. Make sure each purchase supports your long-term business goals.

3. Evaluate Equipment Needs and Financing Options

If your machinery struggled this season, or if you’re expanding acres, it may be time to upgrade. Don’t wait until spring to start shopping. Equipment prices can vary throughout the year, but fall is often the best time to:

  • Compare quotes
  • Look into leasing options
  • Plan for delivery and setup well ahead of spring

 

Financing options may include:

Bank Plus Tip: We offer competitive ag equipment loan rates and farm-friendly terms designed for Iowa farmers. Talk to your lender now to lock in financing before year-end.

4. Build a Cash Flow Budget for 2026

Cash flow is king, especially in farming. It's one of the most important tools in your financial toolbox, and now is the time to build your 2026 cash flow plan.

Include:

  • Expected income from grain sales or livestock
  • Seed, input, fuel, and labor expenses
  • Equipment payments and debt servicing
  • Contingencies for weather, market, or equipment surprises

A solid cash flow plan helps you:

  • Anticipate financing needs
  • Time input purchases more strategically
  • Avoid tight spots during planting or harvest

 

Helpful Resource: Iowa State Extension’s cash flow budgeting resources are a great place to start.

5. Plan for Conservation and Soil Health

Fall is a great time to invest in your soil. From cover crops to conservation tillage, post-harvest is the ideal time to:

  • Improve erosion control
  • Boost organic matter
  • Set the stage for healthier spring planting

 

Benefits of conservation practices include:

  • Improved drought resilience
  • Lower fertilizer costs
  • Potential NRCS and state cost-share incentives

Many conservation grants require pre-approval. Talk to your local NRCS office now.

6. Revisit Your Risk Management Strategy

Crop insurance, marketing loans, and forward contracts are essential tools, but they only work if they’re part of a bigger plan. Review your coverage levels, marketing goals, and breakeven prices now, while there’s still time to adjust.

Watch Out: With government programs temporarily disrupted, some cash flow tools may be unavailable. Stay in close contact with your lender and insurance agent.

7. Set Clear Goals for 2026

Yield is important, but it’s just one piece of the puzzle. Set broader goals that reflect your full operation, such as:

  • Boosting ROI (return on investment)
  • Improving soil health or reducing input use
  • Increasing labor efficiency
  • Strengthening financial resilience

 

Our Recommendation: Write your goals down and revisit them throughout the season. Better yet, share them with your team or ag partners. A clear plan brings better focus and accountability.

Ready to Plan Ahead? Bank Plus Is Here to Help.

From buying new equipment to building a winter cash flow plan, Bank Plus is proud to support Iowa farmers at every step of the journey. As your local ag lender, we offer:

  • Flexible equipment and operating loans
  • Budgeting support
  • Trusted advice from people who live and work in your communities

 

Let’s work together to make 2026 your most successful crop year yet! Stop by your nearest Bank Plus branch or visit bankplusiowa.com to connect with a lender today.