Soaring diesel prices take their toll on US farmers in midwest corn belt
Fuel costs are biting for crop growers, trucking firms and a host of other industries as Iran war stokes record prices Joe Hamilton farms corn and soybeans on 2,500 acres in Indiana’s Delaware county. Next week, when his soybean harvest kicks off, four tractors, two combine harvesters and five semi-trucks will roar to life. And with that, a record bill for about 9,000 gallons of diesel awaits…
Farmers in the Midwest corn belt are feeling the impact of soaring diesel prices, which are exacerbated by the ongoing war in Iran and supply disruptions. Joe Hamilton, a farmer in Indiana, expects to spend about $12,500 on additional fuel costs for his 2,500-acre corn and soybean farm. With an estimated 20 billion bushels of soybeans and corn being harvested in the region by the end of November, the price hike has had ripple effects across industries.
Trucking companies, chemical suppliers, and even school districts facing a potential $157 million budget deficit are all grappling with the increased costs. The midwest's limited number of oil refineries, combined with ongoing disputes between labor unions and oil companies, have contributed to the regional price surge. While some farmers are exploring fuel-efficient farming methods, the reality is that they must still pay the higher prices to meet market demands.
Experts warn that the situation may worsen, as the Strategic Oil Reserve in Texas and Louisiana is at its lowest level in 43 years, leaving little room for price relief when demand increases in the winter.
Written by urgent.news from The Guardian US's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
