Profitability, measured as net farm income per acre, peaked in 2011 and has declined every year since. Substantial crop insurance indemnity payments kept profitability above zero for the typical Iowa farm up until 2013. Despite record high yields in 2014 and 2015, lower crop prices and sticky costs of production resulted in negative margins for some producers in 2014, and are likely to result in negative margins for many producers in 2015. Farming on rented land and not fully owned land is the most likely to suffer from negative margins.