Although uncertainties abound, the outlook for Corn Belt corn and soybean farmers is bright. Demand for corn and soybeans remains high despite cutbacks in corn exports, feed use, and the financial difficulties of the biofuels industry. World supplies have not grown as rapidly as expected because of moderating prices, less-than-ideal growing-season weather around the world, and credit constraints caused by the world financial crises. A comparison of the situation farmers face today with what they faced in April 2006 before the rapid run-up in commodity prices offers some perspective on how the fortunes of corn and soybean farmers have changed over the last three years.