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.
RFA President and CEO Geoff Cooper joined us to discuss the proposed E15 amendment in the Farm Bill, industry reaction to the legislation, and the outlook for year-round E15 sales.
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Corn export demand remains supportive, but weak pork and rice sales show uneven global demand trends.
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Rising poultry supply is pressuring prices despite steady demand.
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Tasting events in Ghana highlight potential for new export markets
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