While US farmers brace for higher fertilizer and chemical bills tied to turmoil in the Middle East, another expense is already taking a bite out of razor-thin margins: diesel fuel.
Prices for the fuel that powers tractors, combines and grain trucks have surged as the war in Iran disrupted global oil flows, catching many producers who expected lower energy costs this year off guard. In Illinois, the top US soybean-producing state, farm diesel averaged a record $5.41 a gallon at the start of May, nearly double the price a year earlier.
Marty Richardson speaks with USDA Secretary Brooke Rollins at his farm in Kansas City, Missouri, on Sept. 25.
Photographer: Erin Ailworth/Bloomberg
Current costs, which have moderated some in recent ...