US Farmers Face Record Diesel Costs During Critical Corn and Soybean Harvest
· Business · The Independent, ABC News (AU)
American farmers harvesting corn and soybeans are confronting record-high diesel prices that strain operational budgets during a challenging agricultural year. Global fuel supply disruptions linked to the ongoing military conflict with Iran pushed US diesel to a national average of $6.05 per gallon on Friday, up from $5.85 on September 4. Missouri farmer Jason Kurtz reported that his daily fuel expenses have doubled, requiring 200 gallons of diesel each day to operate his combine across a 30-day harvest. Data from AAA shows that diesel rates have surged by 60 percent since the conflict began in late February, when fuel averaged $3.76 per gallon. Agricultural economists warn that cash-strapped farms are being forced to cut essential operational expenses to absorb the increased hauling and machinery costs.
Why it matters
Spiking diesel prices directly inflate the cost of harvesting and transporting vital crops like corn and soybeans, squeezing profit margins for American agricultural producers.
Read the original report — The Independent
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