BELOW SUPERNAV drop zone ⇩

‘It’s going to be very hard’: Record inflation hitting farmers hard

MAIN AREA TOP drop zone ⇩

MAIN AREA TOP drop zone ⇩

Testing widget old system

Lorenzo shared

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

This is the total amount you're borrowing from the bank.
This is the yearly interest rate on your loan.
This is how long you'll take to repay the loan.
This is the yearly tax you pay on your property.
This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

KIRKLAND, Ill. (NewsNation) — Higher costs for fertilizer and fuel amid rising inflation and Russia’s invasion of Ukraine are putting pressure on American farmers to feed the country on top of an already strained food supply chain.

Craig Robertson, Steve Dombrowski and Nick Vowles are all Illinois farmers who said it was the American dream when they got into farming or took over their family business. However, now it’s more of a burden.

“People see high food costs and high grocery prices, and everybody goes them farmers are getting rich, and that’s not necessarily the case,” said Robertson, who farms soy, wheat and corn.

He said he’s never seen it this bad before.

According to AAA, fuel costs are up more than $2/gallon compared to this time last year. In addition, fertilizer has been up 42% since the start of the Russia-Ukraine war, which has forced U.S. farmers to cut costs anywhere they can.

“It’s going to be very hard for us to save fuel, such as maybe changing our farming techniques,” Dombrowski said.

According to Macro Trends, corn has been up 11% and wheat by 13% since the start of the Russia-Ukraine war.

The demand for wheat is exponential amid reports of Russia bombing Ukrainian wheat fields. Russia, also a top supplier of wheat, is now off the table; American farmers are needed now more than ever.

“It’s going to be very hard for the American farmer in the United States to come up with that much more commodity to help out with the losses in Ukraine,” Dombrowski said.

Without action in the Russia-Ukraine war, the United Nations warns more than 40 million worldwide could hit extreme poverty, many of those Americans.

In addition, inflation is at an all-time high, sitting at 8% and climbing

“How far are people going to struggle to be able to afford groceries? It’s going to be very, very hard on us in the United States,” Dombrowski said.

Vowles said once the milk and butter of America, farming is now a dying business to make matters worse.

According to the United States Department of Agriculture, the average age of a U.S. farmer is close to 60 years old. Vowles said that takes the fun out of farming.

“It’s turning more into a job, instead of something that we actually enjoyed doing, you spend 12-16 hours in a tractor, and now it’s about worrying about cutting corners and trying to save costs,” he said.

“This is supposed to be the land of the milk and honey, and it’s just not that way anymore,” Robertson said.

Meanwhile, President Joe Biden will visit Iowa Tuesday, for the first time since taking office, to visit a farming community west of Des Moines to promote his economic plans to help rural communities.

Business

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

Site Settings Survey

 

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Fair

la

71°F Fair Feels like 71°
Wind
8 mph WSW
Humidity
70%
Sunrise
Sunset

Tonight

Partly cloudy skies. Expect mist and reduced visibilities at times. Low 62F. Winds WSW at 5 to 10 mph.
62°F Partly cloudy skies. Expect mist and reduced visibilities at times. Low 62F. Winds WSW at 5 to 10 mph.
Wind
8 mph WSW
Precip
9%
Sunset
Moon Phase
Waning Gibbous