INPUTS
Producers report mounting pressure from higher diesel, fertilizer and machinery expenses, alongside trade uncertainty and rural healthcare concerns, as policy impacts and election-year sentiment weigh on the farm economy.
Diesel prices are just 20 cents from a record high, with multiple states already setting new records. Experts warn relief is uncertain as prices could remain elevated through 2026.
Ag Secretary Brooke Rollins says a multi-agency Trump administration effort will target fertilizer costs and boost U.S. production, with a major announcement expected yet this week.
In a candid conversation with Farm Journal, USDA Deputy Secretary Stephen Vaden says USDA’s message to fertilizer companies is simple: “Be part of the solution, don’t be part of the problem.”
As the Iran war drives fertilizer prices up 40%, the Trump administration is warning against price gouging. A new survey shows only 60% of corn farmers have secured their nitrogen needs for 2026.
At a fiery Senate hearing, farmers and lawmakers call out corporate consolidation for driving up input costs, while industry leaders insist global geopolitics, not greed, are to blame.
In the third quarter, farm income and loan repayment rates weakened.
USDA’s Economic Research Service (ERS) will provide an updated 2024 net farm income forecast on Thursday. Economists say the net farm income picture would look even worse it weren’t for improved livestock prices.