In 1922, Wilfred "Wilf" James (Thomas Jane) is a farmer residing in Hemingford Home, Nebraska, alongside his wife, Arlette (Molly Parker), and their teenage son, Henry (Dylan Schmid). The couple is embroiled in a heated disagreement over Arlette’s inherited land; while Arlette is keen to sell and relocate to Omaha, Wilf, valuing his pride above all, vehemently opposes this plan. Driven by desperation to maintain both his land and his bond with Henry, Wilf concocts a sinister plot to murder Arlette, manipulating his son by threatening the relationship with Henry's girlfriend, Shannon (Kaitlyn Bernard).
Feigning support for the sale, Wilf lures Arlette into a false sense of security, leading to a night of celebration where she drinks excessively. After tucking her into bed, the horrific act unfolds as Henry, under his father’s influence, assists in covering her face while Wilf brutally slits her throat with a butcher's knife. The plan to bury her in the cornfield turns disastrous when Henry succumbs to panic, resulting in Wilf disposing of Arlette's remains in a dry well, destined to be feasted upon by rats. To cover their tracks, they drop a cow into the well, presenting it as the cause for its backfilling. However, suspicion looms as Sheriff Jones (Brian d'Arcy James) probes further into Arlette's abrupt vanishing, leading to a tense but ultimately unfruitful investigation.
As time progresses, guilt gnaws at Henry, turning him into a pensive shadow of his former self. Shannon discovers she is pregnant, prompting her parents to send her away to a Catholic institution in Omaha. Driven by a sense of urgency and love, Henry steals Wilf’s car and escapes with Shannon to forge a life together.
However, winter brings a new torment for Wilf, who slowly descends into madness, unable to escape the rats that metaphorically represent his guilt and haunting memories of Arlette. His home falls apart, reflecting his mental state, as he drowns his sorrows in alcohol. His neglect results in collapse—both of the structures around him and within his psyche. An unfortunate rat bite leads to an infection requiring amputation, marking a physical manifestation of his deteriorating existence.
In a climactic confrontation, Wilf is haunted by the ghostly figure of Arlette, surrounded by the ravenous rats. Through her chilling presence, he learns of the fate that befell Henry and Shannon; as they embark on a life of crime, their story echoes the infamous duo, Bonnie and Clyde. Tragedy strikes during a robbery, ending Shannon's life in a violent confrontation. Following her death, consumed by grief and despair, Henry takes his own life, leaving his body in a wretched state, much like his mother after being ravaged by rats.
Wilf's attempts to salvage his legacy lead to rejection from Shannon's father, Harlan Cotterie (Neal McDonough), who drives him away, further isolating him. Eight years later, in 1930, Wilf pens a confession that chillingly states, > "In the end, we all get caught." Surrounded by the remnants of his past—Arlette, Henry, and Shannon—he faces his ultimate reckoning, wielding the very knife that severed his family ties, as the swarms of rats close in, an unending reminder of his transgressions.
