Farmers Reel as Iran War Spurs Costs Surge in US
US farmers are facing their worst financial crisis in decades due to rising costs and falling incomes. The conflict in the Middle East has led to a surge in prices for fuel, fertilizer, and other inputs, making it difficult for farmers to budget for expenses. Matt Bailey, a corn and soybeans grower in Eastern Nebraska, said that the price of 11-52-0 fertilizer, which was $US470 per ton 10 years ago, has risen to over $US900.
The war against Iran has had a significant impact on farmers' businesses, with many seeing themselves as casualties of Trump's trade wars. A recent study by the American Farm Bureau Federation found that without government assistance, farmers growing nine principal crops will lose $US31 billion this year and $US32 billion in 2027.
The struggles for Midwestern farmers are affecting not only their businesses but also the broader US population. A recent poll found that over 53% of registered voters said their finances had deteriorated since Trump returned to the White House, which could spell trouble for Republican hopes of retaining control of Congress.