Markets are already feeling the impact from the tension between Israel and Iran

The conflict between Israel and Iran could cost U.S. farmers when it comes to ordering supplies. Fuel prices are already under pressure, and one economist says the markets have seen some rumbles recently.

“Most recently in the last week, we’ve had, as you know, an escalation of tensions and military conflict. Israel, looking to take out the nuclear capabilities of Iran before they, God forbid, had produced a nuclear weapon. We’ve seen markets gyrate right and left on those energy markets, and oil prices have been moving up,” said Ken Zuckerberg.

Fertilizer could come under pressure, too. Researchers at the University of Illinois say recent action in the Middle East has taken out fertilizer production in Iran. The concern is that it will add to growing uncertainty around Chinese and Russian supplies.

Related Stories
As harvest enters the Corn Belt, Lewis Williamson of HTS Commodities says markets will compare those yields with the Mid-South’s bumper crop.
U.S. cotton prices and demand are showing signs of improvement, but slow marketing remains a concern as the new crop approaches.
China’s sustainable jet fuel exports are growing, which could increase demand for renewable feedstocks such as used cooking oil.
The proposed Union Pacific-Norfolk Southern merger could reduce transportation handoffs, but ag shippers also worry about fewer choices and higher rates.
Refining margins accounted for most of diesel’s price increase since February.
Drought and extreme heat are hurting Oklahoma cotton, with 55% of the crop rated in the worst condition category.

LATEST STORIES BY THIS AUTHOR:

Stronger finished-lumber prices have yet to translate into broad gains for timber owners.
U.S. soybean transportation costs to China climbed 12% from a year earlier.
Paraguay could gain additional U.S. market access through a temporary tariff-free quota.
American dairy producers are no longer subject to Environmental, Social, and Governance (ESG) overregulation.
New systems are moving beyond data analysis to make real-time decisions directly on farm equipment.
New data tool brings modern, streamlined data access to producers nationwide