Financial Times reports US corn-belt farmers face their worst crisis in 40 years
as diesel and fertilizer costs have spiked after Trump’s war on Iran, squeezing
margins. An American Farm Bureau Federation study warns that without government
aid growers of nine major crops, including corn, would incur combined losses of
about $31bn this year and $32bn in 2027. AFBF economist Faith Parum estimates
corn growers will lose $131/acre this year and $167/acre in 2027; soybean
growers are projected to lose $80/acre this year and $138/acre next year. 2027
would mark the sixth consecutive year of negative returns for most major row
crops. The report says the sixth month of Middle East conflict is transmitting
cost shocks to the US heartland and that these economic pressures are
influencing voter sentiment in agricultural states ahead of the midterm
elections.
